IRVINE, Calif., Jan. 23, 2021 (GLOBE NEWSWIRE) -- Plutos Sama Holdings, Inc. (PSH), is proud to announce the nomination of its Chief Executive Officer, Matthew Browndorf, to receive the 2021 award for Excellence in Entrepreneurship from the Orange County Business Journal.
2020 was an extremely difficult year- not only for the world, but especially for small to mid-sized businesses in the United States and especially in California. As a privately owned and funded private equity company focused on distressed assets – most notably in the United States, Central and Eastern Europe and China -- and highly contested takeovers and turnarounds, 2019 was already a difficult year for PSH in general as the economy was peaking its economic cycle and it was forced to eliminate some of the holdings in its portfolio due to hostile purchases and previous portfolio purchases with representation and warranty breaches--writing off almost eight million ($8,000,000) in assets and fourteen million ($14,000,000) in income for 2020.
PSH has backed up its purchases and affiliates even when they go wrong by funding reasonable liabilities for the operating companies even after it had to close them. This can be extremely difficult when the world is facing a global pandemic the likes of COVID19. Even Richard Branson had to sit and watch one of his babies, Virgin Australia, head into insolvency and he held his chin high, said they would be back and stronger then ever, and within the year his team was able to turn it around and get it ready for the 2021 COVID19 recovery. “We have about a 50 percent batting average on our picks which in the Major Leagues would be great, but we welcome the chance to improve that to 70 or 80 percent or progressively selecting higher risk appetite on the winners and lower risk appetite on the losers.”
From the #1 fastest growing company in 2017 to one of the Top Places to Work in 2018, PSH saw a massive decline in quality deal flow, work force and operations related to the lack of distressed arbitraged and non-performing portfolio company purchases that hit home in 2019; only to be followed by the complete “shelter in place” COVID19 world of the remote working environment in 2020.
2021 is going to be a great year for those general partners that are in distressed assets, so we are proud we made the turn, and we look forward to rebuilding America and the world one asset at a time.
FOR MEDIA CONTACT: info@plutossama.com
Plutos Sama Holdings, Inc.
Plutos Sama Holdings, Inc. is a private equity company in the business of taking control positions in domestic and international distressed and contentious residential and commercial real estate ventures, micro-lending, securitizations, law firms, restaurants, mortgage servicing platforms, and eSports.
For more information, visit www.plutosholdings.com.
Certain information set forth in this presentation contains “forward-looking information”, including “future oriented financial information” and “financial outlook”, under applicable securities laws (collectively referred to herein as forward-looking statements). Except for statements of historical fact, information contained herein constitutes forward-looking statements of the Company including with respect to future M&A activity and global growth and completion of the Company’s and its partners projects including any required approvals from the regulatory bodies governing sale and shareholder ratification that are currently underway, in development or otherwise under consideration. Forward-looking statements are provided to allow potential investors the opportunity to understand management’s beliefs and opinions in respect of the future so that they may use such beliefs and opinions as one factor in evaluating an investment. These statements are not guarantees of future performance and undue reliance should not be placed on them.