Fresno, CA (PRWEB) June 22, 2005
General Ventures, Inc. (GVSI Â OP) announced today that effective June 24, 2005, its Board of Directors has accepted the second engagement of Mendoza Berger Company, LLP to add another acquisition to its current audit.
"We are pleased with the work provided by Mendoza Berger and are adding an additional transaction to be included in the audit," stated Tariq Faridi, the Company's Chief Executive Officer. "We believe that the inclusion of the related party transactions in our audit will set the stage for converting our Letter Of Interest for the acquisition of 100 % of the Membership Interests of Kettlemen City Commercial, LLC. The audit is the next step in our ability to obtain board approval to enter into an acquisition agreement with Kettlemen City Commercial, LLC. If the acquisition is perfected, we will then be able to proceed to file our Registration Statements, and subject to meeting listing requirements, also file an application for listing on the AMEX." Faridi further stated that, "while a Pinksheets Company, we wish to have our financials audited and filed, and also aggressively pursue acquisitions, to meet AMEX listing requirements. Our primary business model is acquisition of under valued Real Estate and related business ventures, and having available the personal service and immediate availability of auditing services from Mendoza Berger will enable us to complete due diligence and close transactions quickly."
If General Ventures is successful in converting the LOI into an acquisition agreement, it will then proceed with other acquisitions of firms it has LOIs with, and Mendoza Berger's services are an essential component to complete our due diligence and convert LOIs to acquisitions. The Company also intends to retain Iwona Alami of Newport Beach as its SEC counsel by month end, and to retain her services to file a Registration Statement and prepare application for AMEX listing.
General Ventures has also retained Mendoza Berger's services so as to be able to file a registration statement, and make application for AMEX listing.
General Ventures announced its intentions, on May 10, 2005 to change its business model to a holding company operating Real Estate Ventures and related businesses directly or through companies in which it will have a majority or other substantial interest. Institutional Investors and Risk Capital Advisors may obtain more information about General Ventures by contacting the CEO, Tariq Faridi at e-mail protected from spam bots.
Forward looking statement Â The statements which are not historical facts contained in this release such as the CompanyÂs beliefs and expectations regarding the Travelers Haven, are forward looking statements that involve risks and uncertainties, which could cause actual results to be different than such forward looking statement including, but not limited, to unexpected changes in the Travelers traveling habits, unexpected changes in demand for the products and services Travelers Haven intends to offer, and risks that will be detailed in the CompanyÂs Securities and Exchange Commission filings. All forward-looking statements are made as of today, and the Company assumes no obligation to update this information. For more details relating to risk and uncertainties that could cause actual results to differ materially from those anticipated in our forward-looking statements, and risks to our business in general, please refer to our future SEC filings. The company has no requirements since its shares are currently traded on the pinksheets, including our future anticipated Report on Form 10-K for the year ended December 31, 2004. and Form 10-Q for the period ending, March 31. 2005.
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