SIBE News: Sibling Group Updates on Blendedschools
Post# of 44842
Posted On: 05/19/2014 2:59:37 PM
SIBE News: Sibling Group Updates on Blendedschools.net Acquisition
http://finance.yahoo.com/news/sibling-group-u...00899.html
ATLANTA, GA--(Marketwired - May 19, 2014) - Sibling Group Holdings, Inc. (OTCQB: SIBE) (www.siblinggroup.com) (the "Company"
updated stakeholders today on the status of the Blendedschools.net transaction.
"The Blendedschools.net transaction cleared all regulatory approvals in late March, with the signature of a judge on a court order which grants a petition for the sale of the assets to Sibling, as is required in all sale of assets from a not-for-profit entity, like Blendedschools.net," said Maurine Findley, Chief Financial Officer of Sibling. "Following the issuance of the order, we began gathering the necessary documents to complete the sale, and final accounting for the transaction. We believe we are within days of having a final document set together, and expect that a formal closing will occur within a week after the completion of the accounting." Sibling has been working closely with the staff and auditors for Blendedschools.net to insure accuracy, as well as its own auditors to make sure its post-closing financials properly represent the transaction.
Dave Saba, President of Sibling, offered this observation of the marketplace for Blendedschools.net product and services, "We actually began exploring the potential for a significantly expanded marketing and sales effort shortly after the beginning of the year, and as a result of that effort, we now have a sizable number of new opportunities, generally outside the traditional service area for Blendedschools.net, including the Southeast and Southwest regions of the US. Furthermore, we expect to sign a joint marketing initiatives shortly that could provide extensive sales coverage coast to coast."
With regard to further acquisition activity, Saba said, "We continue to see a high level of activity in the educational space, and are considering a number of situations, both in educational technology, and educational management. We expect to participate in both areas, through the delivery of services to schools, public and private, and direct to the students ourselves, both in the corporate education and K-12 levels."
http://finance.yahoo.com/news/sibling-group-u...00899.html
ATLANTA, GA--(Marketwired - May 19, 2014) - Sibling Group Holdings, Inc. (OTCQB: SIBE) (www.siblinggroup.com) (the "Company"
updated stakeholders today on the status of the Blendedschools.net transaction. "The Blendedschools.net transaction cleared all regulatory approvals in late March, with the signature of a judge on a court order which grants a petition for the sale of the assets to Sibling, as is required in all sale of assets from a not-for-profit entity, like Blendedschools.net," said Maurine Findley, Chief Financial Officer of Sibling. "Following the issuance of the order, we began gathering the necessary documents to complete the sale, and final accounting for the transaction. We believe we are within days of having a final document set together, and expect that a formal closing will occur within a week after the completion of the accounting." Sibling has been working closely with the staff and auditors for Blendedschools.net to insure accuracy, as well as its own auditors to make sure its post-closing financials properly represent the transaction.
Dave Saba, President of Sibling, offered this observation of the marketplace for Blendedschools.net product and services, "We actually began exploring the potential for a significantly expanded marketing and sales effort shortly after the beginning of the year, and as a result of that effort, we now have a sizable number of new opportunities, generally outside the traditional service area for Blendedschools.net, including the Southeast and Southwest regions of the US. Furthermore, we expect to sign a joint marketing initiatives shortly that could provide extensive sales coverage coast to coast."
With regard to further acquisition activity, Saba said, "We continue to see a high level of activity in the educational space, and are considering a number of situations, both in educational technology, and educational management. We expect to participate in both areas, through the delivery of services to schools, public and private, and direct to the students ourselves, both in the corporate education and K-12 levels."
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