MIT Associates, Inc., a major International Financial Organization, announced today that the Company has completed US $100 Million financing secured by Standby Letter of Credit to acquire several non-performing shell corporations including Masterseek Inc.
Online PR News – 21-December-2009 – – SEATTLE, Washington – MIT Associates Inc., the global leader in tax minimization, asset management and securities servicing, today announced that they, completed US $100 Million financing secured by Standby Letter of Credit.
The client is a multi-national corporation with offices in Germany, Malaysia, China, Taiwan, United Kingdom and United States.
The US $100 Million financing will provide the client with initial funding required for its 2010 Business Plans to acquire non-performing shell corporations, some of which are listed below:
Masterseek Inc. (Jan 31, 2010 Finalization)
Anagram Plus, Inc. (Jan 31, 2010 Finalization)
The following to be finalized in February 2010:
Remington Ventures Inc.
Hunt Gold Corporation (Formerly Prime Time Group)
Dialog Group Inc.
Amerossi (Now Nanotechnology)
Trans Global Oil Corp.
Sustainable Energy Corp.
Green Machine Development Corp.
Mobilstream Oil Inc.
Savior Energy Corp.
Logistical Support group
Global SDR Communications
Global Media productions Inc.
And several other companies currently classified as under-performing or non-performing.
The client stated: "We are very thankful that MIT Associates, Inc. has been able to construct a viable method for our liquidity needs at the time when traditional lenders are increasingly cautions in extending financing.
This financing structure will immediately reflect our true valuation and more importantly, provide timely liquidity to our Company".
The US $ 100 Million financing completed by MIT Associates, Inc. in this financial climate are indicative of the strength of MIT Associates, Inc. and validate our position as one of the leaders in the industry.
About the Company:
MIT Associates is a leading provider of financial products and services suited for multi-national corporations, institutions, government entities and entrepreneurs.
Additional information is available at:
The information presented in this press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.
These statements, which may be expressed in a variety of ways, including the use of future or present tense language, relate to, among other things, the Company’s expectations with respect to the after-tax charge and the repurchase of the warrants.
These statements are based upon current beliefs and expectations and are subject to significant risks and uncertainties (some of which are beyond the Company’s control).
Factors that could cause the Company’s results to differ materially can be found in the risk factors set forth in the Company’s Annual Report on Form 10-K for the year ended December 31, 2008, the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2009 and the Company’s other filings with the Securities and Exchange Commission.