Parliament Holdings Inc 20M Merger transition
7M in annual revenues
November 13, 2017 08:30 ET
Kenergy Scientific, Inc. Announces Definitive Agreement Completed with Parliament Holdings Inc.
MIAMI, FL--(Marketwired - Nov 13, 2017) -Kenergy Scientific, Inc. (OTC: KNSC) today announces that it has completed a major milestone in the acquisition of Parliament Holdings Inc. a company that owns and operates Parliament House, a 40-year-old established Resort located in Orlando Florida with $ 6.0 million in annual revenues projected for 2017, In the next 30 days, the company will transition in the new management, file their notice for a symbol and name change. The new company plans to expand their existing operations and begin construction on additional buildings to the resort.
KNSC will appoint Don Granastein, as the new CEO, who has been the owner and president of Parliament Holdings for the past 18 years.
M. Donald Granatstein - CEO of Parliament House Resort and The Gardens Timeshare Resort since 1999. Increasing revenue from $4.0 million to $6.0 million and generating $7.0 million in timeshare sales. Previously, Mr. Granatstein managed a number of resort and timeshare operations, consulted to hotel chains, and managed the public company of Debbie Reynolds Resort, Inc.
Susan Unger - COO of Parliament Partners, Inc. responsible for all operational aspects of the properties, their maintenance and personnel. She has held comparable positions with various resorts and timeshare properties.
"We are very excited for this opportunity, and are prepared to execute our expansion plans for the Parliament House, and create what will be a world premier resort for the LGBT community," said Don Granastein New CEO of KNSC. "We will create a lifestyle that will bring together the necessary infrastructure and resources needed for the Resort community." To date, no one has created the necessary infrastructure to capture all phases of this resort:
Entered into first of its kind agreement with RCI where they have assigned significant points to every hotel room under Parliament Partners management for specific use by the gay community.
In discussions with major hotel chain for construction of the world's first gay branded hotel featuring an additional 150 units on the Company's Orlando properties.
Acquisition of additional resort and entertainment facilities.
Licensing of Parliament House brand and operational structure to other resort locations.
About Parliament Holdings:
As the world's premier, and only iconic brand in the Gay community for 40 years, the Parliament House name and reputation is a significant competitive advantage. To date, no one has created the necessary infrastructure to capture all phases of the gay lifestyle -- until now.
Parliament Partners Holdings, Inc. will bring together the resources needed to engage the gay community on all levels, and in every phase of their life -- relaxation and fitness, banking and, insurance, and senior care, all dedicated to the unique needs of the gay community.
Added to these is the overall management and operations processes that have been put in place by Parliament Partners Holdings' management which set apart the overall experience of its guests. These processes assure that each customer experiences a secure, relaxing, and enjoyable visit.
Parliament Partners social media receives 5,000 unique visitors per day making it the place others come in their attempts to reach the gay community.
While there are no definitive studies completed to date, those that have been undertaken indicate that the Lesbian, Gay, Bisexual, and Transgender (LGBT) Market in the United States consists of between 4% and 10% of the general population. This puts the estimated adult population at between 14 million and 30 million adults in the US alone.
Parliament Partners, through its various operating units and future affiliations, intends to address the ongoing and unique needs of the Gay Community by providing destination tourist locations where they can feel secure and accepted, as well as the goods and services specifically designed to meet their needs.
Safe Harbor Statement: The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words "may," "will," "should," "plans," "explores," "expects," "anticipates," "continue," "estimate," "project," "intend," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, and various other factors beyond the Company's control.
Kenergy Scientific, Inc.