AndhraNews.net
Home » Business News » 2011 » April » April 13, 2011

Exit Only, Inc. Signs Binding Letter of Intent to Acquire a Multi-Million Dollar Trading Company; Transaction Is Accretive to Earnings


April 13, 2011 - Santa Monica, CA

Exit Only, Inc. (PINKSHEETS: EXTO) announced that it has executed a binding Letter of Intent to acquire Trans Atlantic Capital Group, Inc., a dynamic trading company principally involved in brokering wholesale lots and closeouts. President Diana Shats previously commented that she retired 1.2 billion personal shares of her common stock in the Company in preparation of this acquisition. By reducing the outstanding shares, the Company was able to negotiate the LOI quickly. Further details will be announced with the definitive agreement expected to be completed no later than April 29, 2011.

Trans Atlantic Capital Group, Inc. achieved top line revenue in excess of $8,300,000 in 2010. The company has confirmed record revenue numbers for the first quarter of 2011 which will be released at such time of the announced definitive agreement. Trans Atlantic Capital Group, Inc. is comprised of an experienced and dynamic management team led by Mirhan Stepanyan. Mr. Stepanyan will continue to manage the business operation of Trans Atlantic Capital Group, Inc. upon completion of the merger and will be added as a Director of EXTO. Mr. Stepanyan stated, "We are very excited about this LOI and look forward to growing our business on the public company platform provided together with EXTO's management."

Diana Shats remarked, "Management is laser focused on driving shareholder value by acquiring strong companies that will be accretive to our earnings. We are excited that this LOI was negotiated quickly and it validates our business model of utilizing a progressive acquisition strategy." Ms. Shats continued, "Each acquisition makes the Company stronger and ultimately will be reflected in our market price."

About Shats International Holdings, Inc.

Shats International Holdings, Inc., a wholly owned subsidary of Exit Only Inc., business model is centered around an array of subsidiary acquisitions with its primary focus to identify strategic growth companies, intellectual properties, and assets within the US and abroad that will bring significantly enhanced valuation to its shareholders through a vast and diverse field of industries. Additional information will be available shortly at both Pinksheets.com and the company's website. http://www.shatsholdings.com/

Cautionary Note Regarding Forward Looking Statements

This press release and the statements of representatives of Exit Only, Inc. (the "Company") related thereto contain, or may contain, among other things, "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact included herein are "forward-looking statements," including any other statements of non-historical information. These forward-looking statements are subject to significant known and unknown risks and uncertainties and are often identified by the use of forward-looking terminology such as "guidance," "projects," "may," "could," "would," "should," "believes," "expects," "anticipates," "estimates," "intends," "plans," "ultimately" or similar expressions. All forward-looking statements involve material assumptions, risks and uncertainties, and the expectations contained in such statements may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results (including, without limitation, SIH's ability to advance its business, generate revenue and profit and operate as a public company) could differ materially from those stated or anticipated in these forward-looking statements as a result of a variety of factors, including factors and risks discussed in the periodic reports that the Company files with OTC Markets (PinkSheets). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. The Company undertakes no duty to update these forward-looking statements except as required by law.

CONTACT:
Investor Relations
Briggs Smith
813-438-5225
Email Contact

Shats International Holdings, Inc.
800-406-7906
Email Contact

MarketWire

Comment on this story

Share