ORLANDO, Fla., March 15, 2004 (PRIMEZONE) -- TS&B Holdings, Inc. ("Company" or "TS&B") (OTCBB:TSBB): The CEO of TS&B Holdings Inc., James E. Jenkins, announced that to date the Company has received a total of $500,000 in equity financing from Compass Capital Group. This is in accordance with the $5 Million equity financing currently in place.
TS&B Holdings CEO James E. Jenkins stated, "We are very pleased to have Compass Capital as our Investment Banker. Compass has shown great confidence moving forward with our management's current acquisition portfolio. The Company believes that with the current acquisitions as well as future acquisitions, based on being fully funded, should produce revenues of approximately $25 million over the next twenty-four months on a pro-forma basis. The financing that Compass Capital is providing will ensure that Company will begin to reach its goals and increase shareholder value. We are very fortunate to have engaged Compass Capital Group as our investment banking firm. Their excellent performance will help assure our success." The Company's objective is to provide services, including consulting services to micro-, small- and mid-cap businesses primarily in the $1 million to $150 million revenues range. The financing commitment over the next 12 months will allow the Company to drive an aggressive acquisition campaign in which Compass Capital Group will play a key role as investment banker and advisor. The financing will allow the Company to implement new strategic corporate initiatives and finalize acquisitions that will directly impact shareholders. The Company intends to announce acquisitions and strategic relationships in the near future.
This press release contains certain forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Expressions of future goals and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those currently anticipated. Factors that could cause or contribute to such differences include, but are not limited to, market acceptance of products, services and technologies; changes in local currency valuations; the Company's ability to continue to secure sources of financing; and other factors as described in the Company's filings with Securities and Exchange Commission. The Company undertakes no obligations to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this press release.