CORAL SPRINGS, Fla., Sept. 22, 2005 (PRIMEZONE) -- Presidential Holdings Inc. announced today that it has acquired the controlling interest in Discover Capital Holdings Corp. (Pink Sheets:DSCH).
The controlling shares were acquired through a private transaction, the terms of which will be further disclosed in a proxy notification to Discover shareholders along with other terms and conditions of the acquisition and merger.
Presidential Holdings Inc. is a privately held Florida corporation with its offices located in Coral Springs, Florida. Presidential provides business development and consulting services to private and public companies. Presidential Holdings intends to merge FSBO TV Inc. into Discover Capital Holdings Corp. The merger will be subject to shareholder approval.
Presidential has incubated FSBO TV Inc., a media company. FSBO TV's mission is to advertise real estate listings and sales, and other associated products and services, via the Internet. Consumers can buy and sell their property on a flat-fee basis through its video-driven Web sites (www.forsalebyownerwebtv.com or www.fsbowebtv.com). Individuals who want to sell their home on their own could save thousands of dollars in real estate commissions. FSBO TV also utilizes conventional forms of media advertisement such as TV, print, and radio. Other service providers will be able to advertise services and products through the FSBO TV network of affiliates.
The mission of FSBO TV Inc. is to provide the consumer with a means of selling their home or property on a flat-fee bases via FSBO Web-TV format. The services to be provided to the home seller will be supported by a team of established real estate agents, mortgage loan officers, title agents, attorneys and other professionals involved in the real estate industry throughout the nation via FSBO Web-TV format and combined with other traditional forms of media.
This media release may contain forward-looking statements regarding but not limited to management, market potential, distributor success, market size, international sales, uncertainties that could materially affect actual results. Investors should refer to documents that the company intends to file with the SEC for a description of certain factors that could change actual results. Investors should refer to factors that could cause actual results to vary from current expectations and the forward looking statements contained in this media release.