Encompass Holdings announces material event - business change and $6.4 Million asset acquisition via LOI
Minneapolis, Minnesota--(Newsfile Corp. - November 9, 2017) - Encompass Holdings, Inc. (OTC Pink: ECMH) (The Company) announces a material event today, November 9, 2017.
This material event describes the change in business industry (SIC code), asset increase, revenue model, and aggressive business plan execution. It applies for SIC code 6798.
This material event is invoked by a Letter of Intent with DDG Properties effective as of November 7, 2017.
ECMH has signed the LOI that assumes DDG properties' holdings estimated at $6.4 Million.
The DDG properties are physical assets of residential property, commercial property, real estate lots, vacant land, and acreage suitable for development. DDG has been in business for 8 years. DDG is in good standing and aspires to be the major business interest of ECMH.
The material event updates ECMH's business plan to be a conservative land development company. DDG's strategy will have, all assets/properties owned with less than 30% debt leveraging. DDG has a debt service ratio of only 1.75%.
Gross revenues of DDG is currently $534,000 (five hundred thirty four thousand USD) and is expected to be assumed by ECMH.
"ECMH will utilize DDG properties' holdings and business for rapid expansion using low risk tolerance decisions."
The business model will utilize low risk purchase/acquisition and/or large scale properties. This explains that this is a significant increase business revenue stream via the LOI. "The company emphasizes that this bilateral business venture is significant to ECMH and it may positively increase the valuation the Company once it consummates the agreement. Auditing and accounting may be necessary to account for the large holdings. The OTC Markets profile of ECMH shows the market cap as $11,882 (eleven thousand eight hundred eighty-two USD) as at November 8, 2017.", says Mark Miller President of ECMH.
About Encompass Holdings, Inc.
Encompass Holdings, Inc. is a publicly traded diversified holding company, which invests in commercial and residential opportunities with the highest possible ROI and cash flow rate to benefit the corporation and its stakeholders.
Forward-Looking Statements Certain statements in this news release may contain forward-looking information within the meaning of Rule 175under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above. The Company undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.
Encompass Holdings, Inc.