Global Equity International, Inc. and Its Subsidiaries Proving, Once Again, Continual Growth Quarter Over Quarter
Date : 08/11/2016 @ 12:43PM
Source : InvestorsHub NewsWire
Stock : Global Equity International (QB) (GEQU)
Quote : 0.016 0.0 (0.00%) @ 7:48AM
Global Equity International, Inc. and Its Subsidiaries Proving, Once Again, Continual Growth Quarter Over Quarter
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SOURCE: Global Equity International Inc.
Global Equity International Inc.
DUBAI, UNITED ARAB EMIRATES--(NewMediaWire - Aug 11, 2016) - Global Equity International, Inc. (OTCQB: GEQU) and its fully-owned subsidiary Global Equity Partners Plc. ("GEP" - www.gepartnersplc.com), a specialist consultancy firm with offices located in Dubai and London, are pleased to announce that today the Company filed their Q2 2016 form 10Q.
Business Overview
Located in London (UK) and Dubai (UAE), Global Equity International Inc. and its subsidiaries is a Company that consults to businesses located around the global. To date, we have 21 clients under contract that we deem to be active and our mandate with these clients varies from:
1. General business consulting.
2. Corporate restructuring advice and implementation.
3. Acting as a liaison between the client and their appointed auditors.
4. Assistance with general compliance and related matters.
5. Assistance in the entire process of listing a client´s common shares on a Stock Exchange or an Over the Counter Bulletin Board by way of liaising with attorneys, accountants and other professionals involved in the process.
6. Introducing clients to potential capital funding sources, mainly located in Western and Eastern Europe, the Middle East and South East Asia.
7. Placement of key management through our Human Resources department.
Global Equity International Inc. trades on the NASDAQ OTCQB under the trading symbol GEQU. The Company has consistently reported to the SEC since the later part of 2012.
Financial Overview based on our most recent June 30, 2016 - 10Q filing
1) Balance sheet: Analytical comparison between June 30, 2016 and December 31, 2015.
Current assets increased by 4% from $136,543 to $142,351.
Long-term investments increased by 16% from $2,650,471 to $3,085,322.
Total assets increased by 16% from $2,807,095 to $3,242,491.
Current liabilities decreased by 12% from $2,283,652 to $2,016,358.
Stockholders' equity increased by 134% from $523,443 to $1,226,133.
2) Income statement: Analytical comparison between the six months ended June 30, 2016 and June 30, 2015.
Revenue decreased by 4% from $1,155,500 to $1,105,521 but still shows signs of quarter over quarter consistency.
Operating expenses decreased by 19% from $840,078 to $677,266.
Operational profit increased by 36% from $315,422 to $427,985.
Other expenses decreased by 86% from $738,438 to $101,049.
Net profit increased by 177% from a net loss amounting to $(423,016) to a net profit amounting to $326,936.
3) Convertible Debt:
As of August 2015, the Company has had no further "toxic" convertible debts.
4) Current Share Structure:
During the six months ended June 30, 2016 the Company's officers and directors converted a total of $305,000 of accrued salaries into common restricted shares between $ 0.0201 and $0.0248 per share.
The Company's total shares issued and outstanding (IOS) at June 30, 2016 and also at August 11, 2016 was, and still is, 795,015,973 of which almost 72.58% are restricted under SEC rule 144 and in the hands of management and employees.
The Company's trading float at June 30, 2016 and also at August 11, 2016 was, and still is, 207,698,715 which represents 26.13% of the Company´s IOS. The other 1.29% of the Company IOS are shares in the hands of historical shareholders that are still in certificate form.
Progress report regarding certain current client engagements
Quartal Financial Solutions: QFS are working hard with our Company in order to finalize and fill their first Private Placement Memorandum (PPM) ahead of more advanced corporate activities. QFS are currently being considered for a substantial investment by two Middle Eastern groups and in addition we have sourced a number of smaller groups to support the shorter term cash flow.
United Global: We are introducing this client to a number of small banking institutions to assist operationally in addition to investigating the financing options for the company´s 2016/17 growth plans. We are also exploring a route to a possible significant Chinese bank for Unite Global to work with and have exposed the company´s platform to a major Middle Eastern Bank.
Granite Power: We have had interest from a number of sources in both the Middle East and South East Asia, we are now exploring the suitability of the possible investors to ascertain the most complimentary and suitable partner to help the company with its ambitions to grow and expand over the next months and years.
VT Hydrocarbons: All parties are now finalizing various elements of a Share Purchase Agreement for the asset in Jordan. The negotiations have been ongoing for months and are now finally drawing to conclusion with all related parties working on a time line and final structure for the closing and subsequent handover of the approximate US$100 million of debt and equity financing.
Primesite Developments: Negotiations are currently taking place with a significant investor which will allow the Company to take a quantum leap in their business plan. The regulated documents (PPM) have been prepared and are being verified for suitability prior to presenting to the investment team who have significant interest in this Company. The Company's required audits are now nearing completion.
About Global Equity International Inc.
Global Equity International Inc., through its wholly-owned subsidiary Global Equity Partners Plc., advises worldwide business leaders with their most critical decisions and opportunities pertaining to growth, capital needs, structure and the development of a global presence. With offices in Dubai and London, Global Equity has developed significant relationships in the US, UK, Central Europe, the Middle East and South East Asia to assist clients in realizing their full value and potential by bringing them to external capital and resources that place an emphasis on collaborative thinking. Furthermore, because Global Equity has offices in key financial centres of the world, they are able to introduce their clients to a unique opportunity of listing their shares on any one of the many stock exchanges worldwide. Global Equity International Inc., through its wholly-owned subsidiary Global Equity Partners Plc., holds long-term equity positions in most of the companies that it represents.
Safe Harbour Statement
This press release may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements related to anticipated revenues, expenses, earnings, operating cash flows, the outlook for markets and the demand for products. Forward-looking statements are no guarantees of future performance and are inherently subject to uncertainties and other factors which could cause actual results to differ materially from the forward-looking statements. Such statements are based upon, among other things, assumptions made by, and information currently available to, management, including management's own knowledge and assessment of the Company's industry and competition. The Company refers interested persons to its most recent Annual Report on Form 10-K and its other SEC filings for a description of additional uncertainties and factors, which may affect forward-looking statements. The company assumes no duty to update its forward-looking statements.
CONTACT INFORMATION
Mr. Peter J. Smith
Director & CEO
Global Equity International Inc.
Tel. (UAE) + (971) 42 767 576
Email: peter@gepartnersplc.com
Mr. Enzo Taddei
Director & CFO
Global Equity International Inc.
Tel. (US) 321 200 0142
Email: enzo@gepartnersplc.com
Mr. Patrick V. Dolan
Managing Director
Global Equity International Inc.
Tel. (UK) + (44) 7917 838762
Email: patrick@gepartnersplc.com
Corporate website: www.gepartnersplc.com
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