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FBC Holding Inc. Announces Shareholder Update on Company Acquisitions and Projects
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Dutch Gold Resources, Inc. (PL) (USOTC:DGRI)
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1 Year : From Mar 2013 to Mar 2014
(OTCQB: FBCD) -- FBC Holding, Inc. is proceeding with its due diligence investigations of two companies with which Letters of Intent have been previously announced, and would like to update its shareholders on the status of its endeavors to bring these operating businesses into the company.
The first company is FortuneTech, Inc. which has been operating for 14 years and last year generated $1.3 million in revenue and had an adjusted EBITDA close to $200,000. The company's best year occurred in 2005 when total revenues exceeded $3.2 million. The company is a re-seller of used and refurbished machinery in the PCB (Printed Circuit Board) and SMT (Surface Mount Technology) industry. The PCB and SMT market combined is a $2.17 trillion global electronics industry. The most attractive characteristic of this transaction is that the company is profitable. Additionally, as with all other potential acquisitions, it is revenue producing and has high gross margins and low DSO and CapEx.
FBC Holding is also proceeding with its evaluation of a project introduced by Dutch Gold Resources, Inc. (PINKSHEETS: DGRI). FBC Holding and Dutch Gold will investigate several opportunities which DGRI has identified and developed preliminary business plans. These opportunities are all related to gold mining and gold mining services in Nicaragua. FBC is gathering industry experts and will schedule a due diligence trip to the sites in the near future.
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