Embarr Downs Announces That It Has Closed On The Acquisition of W+B Partners & Expects Revenue For the Quarter to Exceed $500...
2014年8月29日 - 9:00PM
ビジネスワイヤ（英語）
Embarr Downs, Inc. (OTCQB: EMBR) announced that the acquisition
of W+B Partners closed on August 29, 2014. The Company previously
expected to close on the acquisition after September 1. However,
after discussions with our auditors the Company decided to close
prior to September 1.
The Company’s financials will be consolidated with the
financials of its operating subsidiaries: W+B Partners, SouthCorp
Capital and Tren TV. The Company expects the consolidated non-gaap
revenue for the quarter ending August 31, 2014 to be between
$500,000 and $600,000.
As part of the merger Embarr Downs will have 4 operating
divisions. The operating divisions are: (1) W+B Partners, (2)
SouthCorp Capital (3) TREN TV and (4) Embarr Downs of
California.
W+B Partners:
The division assists companies to go public.
SouthCorp
Capital: This division acquires properties for sale and
rent. SouthCorp Capital is currently traded under the symbol of
STHC
TREN TV: The
Company recently acquired Torrent Energy, which trades under TREN.
Torrent Energy will change its name to TREN TV and will operate as
an online television network. The Company intends to have 10-15
channels within the network. The initial channel will be the Poker
Network. This channel shall operate The Poker Tour (TPT). TPT will
operate as a poker tour similar to WSOP and WPT but will air its
tour online. The goal with TPT will be to create the first actual
poker tour that does not require a buy-in and limits the fields
based on rankings similar to golf and tennis. Once a base of web
traffic and viewers has been established, the Company intends to
expand to include additional channels.
Embarr Downs of
California: The Company will maintain its presence in
thoroughbred racing but will reduce its risk and exposure by
acquiring up to 10% of thoroughbreds. Previously, the Company was
required to acquire 100% of its thoroughbreds due to the Investment
Company Act of 1940.
Publically Traded Subsidiaries.
SouthCorp and The Poker Tour are both publically traded.
However, W+B Partners owns over 80% and as such they are deemed
substantially wholly owned and would be subject to consolidated
reporting, which means, the financials of W+B Partners, SouthCorp
Capital and TREN TV will be included in Embarr Downs filings and
will also be filed separately in their own filings to the SEC.
About Embarr Downs. The
Company is a holding company that operates through its
subsidiaries, Embarr Downs of California, SouthCorp Capital and
TREN TV.
Notice Regarding Forward-Looking
Statements in this press release which are not purely
historical are forward-looking statements and include any
statements regarding beliefs, plans, expectations or intentions
regarding the future. Actual results could differ from those
projected in any forward-looking statements due to numerous
factors. These forward-looking statements are made as of the date
of this news release, and we assume no obligation to update the
forward-looking statements, or to update the reasons why actual
results could differ from those projected in the forward-looking
statements. Although we believe that any beliefs, plans,
expectations and intentions contained in this press release are
reasonable, there can be no assurance that any such beliefs, plans,
expectations or intentions will prove to be accurate.
Contacts:Embarr Downs, Inc.Joseph Wade(949)
461-1471info@embarrdowns.comwww.embarrdowns.com
Embarr Downs, Inc.Joseph Wade(949)
461-1471info@embarrdowns.comwww.embarrdowns.com
Embarr Downs (PK) (USOTC:EMBR)
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