Everlert Inc. Reports Improved Balance Sheet in Its 2014 Annual Report
24 März 2015 - 2:00PM
Everlert, Inc. (the "Company") (OTC:EVLI), is pleased to announce
that it has filed its annual report and corresponding financial
statements for the year ended December 31, 2014 with the OTC
Markets.
Mark Blankenship, President and CEO of the Company, stated, "The
2014 annual financials reflect significant steps in the
transformation of Everlert from a single business operation to a
diversified company that is active in both Real Estate and
Entertainment. We have retired most of the legacy debt inherited or
created by the Company from previous operations, allowing the
Company the financial flexibility to be free from the burden of a
stale balance sheet and marginally profitable operations.
Management will now be able to aggressively build its portfolio of
intellectual properties and focus on Southern California real
estate opportunities. With the Company's stronger corporate
structure, new management team, focused operations and business
plan, we are very optimistic about the outlook for 2015."
In October of 2014, the Company's board of directors agreed to
take steps to reduce debt and to diversify Company operations by
pursuing new business opportunities in Entertainment and Real
Estate. In order to satisfy these objectives, Everlert
Entertainment, Inc. was formed on January 6, 2015, as a Nevada
Corporation. Everlert Entertainment Inc. is provider of strategic
management services for entertainment related projects based on
intellectual properties licensed to the Company. Projects include
films, TV, music and digital media.
Everlert Properties Inc. was formed on December 29, 2014, as a
Nevada Corporation. Everlert Properties Inc. consults with property
owners to evaluate and propose development strategies, as well as
evaluate possible sources of project financing in the form of
structured financing.
To reduce debt and financial obligations, on February 20, 2015,
management sold its debt laden subsidiary, Totalpost Services,
Inc., in exchange for 100,000,000 shares of Everlert Preferred
Stock, Class "D", par value $0.001, which are being canceled by the
Company. The price paid by the purchaser included the assumption of
all debt and financial obligations of Totalpost Services Inc.,
totaling $1,708,187 at the time of the closing. This transaction
resulted in the reduction of the Company's overall debt by
$858,000, as well as the termination of any ongoing costs such as
licensing fees and other obligations.
The Company was also successful in working with convertible note
holders to convert their debt of $423,170 to common stock, thereby
eliminating $423,170 of liabilities.
During the fourth quarter, the Company engaged Sadler, Gibb
& Associates, LLC, as the independent PCAOB auditor to complete
the required SEC audit procedures as part of the process of
qualifying Everlert as a "Reporting Public Company" under the
Securities Act of 1943 and allowing for the listing of Everlert's
common stock on a more senior quotation service.
The 2014 annual report is available on the OTC Markets web site
at:
http://www.otcmarkets.com/financialReportViewer?symbol=EVLI&id=134362
Forward-Looking Statements
You should not place undue reliance on forward-looking
statements in this press release. This press release contains
forward-looking statements that involve risks and uncertainties.
Words such as "will," "anticipates," "believes," "plans," "goal,"
"expects," "future," "intends," and similar expressions are used to
identify these forward-looking statements. Actual results could
differ materially from those anticipated in these forward-looking
statements for many reasons, including the risks we face as
described in this press release. The 2014 Annual report referenced
herein and filed with OTC-Markets on their web site was prepared by
management and reflects the financial results of the company on an
unaudited basis. All information furnished in the Annual Report was
prepared from the books and records of Everlert Inc. in accordance
with Rule 15c-211 under the Securities Act of 1943 as Amended.
Company Web Site: www.everlertinc.com
Mark Blankenship, President & CEO
CONTACT: Hayden Financial, Shareholder Relations
ir@everlertinc.com
1-877-658-0376
Everlert (CE) (USOTC:EVLI)
Historical Stock Chart
Von Aug 2024 bis Sep 2024
Everlert (CE) (USOTC:EVLI)
Historical Stock Chart
Von Sep 2023 bis Sep 2024