Southport, NC (PRWEB) February 01, 2012
Bullzi Holdings closed 2011 with $908,214 in revenue, which represents a 5% increase over the same period last year. More importantly, net income for this period was $265,107, as compared to a gain of $76,014 for the same period in 2010. Michael Welch, co-founder and CEO of Bullzi Holdings and president of Bullzi Security, now a wholly-owned subsidiary of Bullzi Holdings, stated, “While economic conditions have continued to stay stagnant, the company continued to have an increase in both revenue and profits.”
Mr. Welch went on to say, “The challenge for our company has not been in operations; it has been the lackluster performance of the stock and low trading volume. Because of this, management chose not to renew its subscription with the Pink Sheets until a new strategy could be adopted. As such, the company currently has 'OTC Pink No Information' status with the OTC. This will be remedied in the coming weeks, when we post our Annual Report.”
Mr. Welch continued by saying, “Over the past five years, the company has shown linear growth and has been profitable for the past two years. During this period, the company has continued to expand its client base, as well as its product offering. As the economy started to falter, we conducted business using very conservative strategies. While this resulted in continued, albeit slow, growth, it didn't have the impact that the public anticipated. To counter this, management has decided to change the company structure. This will be both beneficial to our current shareholders and exciting for potential new shareholders.”
On January 30, 2012, the company is changing its name to Bullzi Holdings, Inc. The name change corresponds to a shift to the “holding company” status, which will provide the flexibility needed to enter into new markets. As a holding company, Bullzi Holdings plans to acquire other companies providing for both growth and diversity.
The diversity of being in multiple industry sectors will provide three primary benefits: a greater selection of companies to acquire, a reduction of risk as the Company’s assets will be spread throughout multiple industries or sectors, and a wider population of potential shareholders, whose interest may be in one of the new sectors that we enter. The company did retain its current stock symbol (BLLZ).
Mr. Welch went on to say, “During the past two months, company management has considered incorporating two closely held companies into Bullzi Holdings. In addition, we have also been actively engaged in the review of a number of companies for potential acquisition. We believe that this new strategy will not only result in greater revenues and profits for the company, but it will also provide greater diversity and risk reduction for our shareholders, as well as a heightened level of interest for the public stock.”
Bullzi Holdings currently has three, wholly-owned subsidiaries: Bullzi Security, LLC (Information Security), Creative Forecast, LLC (Web Application Design and Development) and WISE Learning Solutions, LLC (On-line Education). As the company brings on new subsidiary's it will also add to its management team; this includes potential new Board positions, as well as key executive roles. Bullzi Holdings will also be creating a Advisory Board to help the company enter new markets and identify potential candidates for acquisition.
While the primary goal of any acquisition will be the purchase of profitable firms, the company will also consider emerging or fast-growth companies as part of the acquisition selection process. Additionally, the company may choose to serve as a business incubator, which will help to accelerate the successful development of entrepreneurial companies through an array of business support resources and services, developed and orchestrated by company management.
Once this is completed, the company will be posting a series of press releases that will advise on the status of any planned acquisitions. As revenues approach $5M, the company will have its financials audited, as a precursor to moving to the OTC-BB.
About Bullzi Holding Company Inc.
Bullzi Holdings, Inc. is a publicly-based holding company that does business in multiple industry sectors. While the Company has its roots in the Information Security and Education sector, it now will serve as the parent company of a wide variety of leading edge and profitable firms.
The Bullzi Holdings, Inc. trading symbol is (BLLZ.pk).