Minneapolis, MN (PRWEB) May 03, 2012
WHY USA Financial Group, Inc. (Pink Sheets: WUFG), a publicly traded financial services company headquartered in Minneapolis, MN (the ?Company?), in conjunction with White Russian, LLC, headed by Ms. Kachina Krafchow and her management team are executing on a well thought out plan of reorganization for existing shareholders and debt-holders. White Russian along with current management have established a path for positioning the Company?s capital structure for further investment and achieving a clean balance sheet moving forward. Further details of this arrangement are included in the Company?s Form 8-K filed on April 4, 2012 with the Securities Exchange Commission (the ?Commission?).
The restructuring plan includes seeking the conversion of approximately $ 6.0 million in debt of the Company into equity, and resetting the issued and authorized stock of the Company in line with being a publicly traded company and being more favorable with institutional financing sources and the broader investment community. In addition, the Company is incorporating a profitable and growing business operation in the residential rehabilitation and resale in the southern California marketplace. Furthermore, as part of a staged $ 3.25 million growth financing plan, the Company has closed on the first $ 250,000 in equity capital from private investors. White Russian and the Company seek to raise an additional $ 3.0 million to further expand its residential rehabilitation and resale operations in the next 6 to 12 months to take advantage of the current trend for these types of properties, and to meet increasing demand in the southern California market. The note and loan conversion to equity, the resetting of the issue and authorized common stock, as well as the additional financing are subject to the approval and acceptance of the board of directors, due diligence, filing an information statement with the Commission, as well as the approval and acceptance by a majority of shareholders of the Company. The Company as of this date has closed on the purchase of its first residential rehab property as well as received the confirmation of more than 75% of the debt to be converted into equity.
About WHY USA Financial Group, Inc.
WHY USA under the management of White Russian, LLC serves as a holding company which provided mortgage banking and real estate services through its wholly owned subsidiaries; Discover Mortgage, TCS Mortgage, TCS Realty and WHY USA North America, Inc. a national real estate franchise company. These subsidiaries provided services to homebuyers, home sellers, real estate brokers and their agents, as well as homebuilders. We currently offer real estate franchise sales, support and training for the owners and agents of the franchisee network. For additional information on WHY USA, please visit the Company?s website at http://www.whyusa.com/.
Safe Harbor
Statements made about our future expectations are forward-looking statements and subject to risks and uncertainties as described in our most recent filings made with the US Securities and Exchange Commission, and are subject to change at any time. Our actual results could differ materially from these forward-looking statements. We undertake no obligation to update publicly any forward-looking statement.
SOURCE:WHY USA Financial Group, Inc.
CONTACT: Kenneth Yonika, CPA 760-579-1088
WHY USA Financial Group, Inc.
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JACKSONVILLE, Fla. (PRWEB) April 27, 2012
A team of employees from Foundation Financial Group?s Jacksonville regional center, located at 225 Water St., Suite 2100, participated in a Walk to Defeat ALS event benefiting the ALS Association, Florida Chapter. Foundation Financial Group employees volunteered their time at the event and made a monetary donation to the organization.
?Amyotrophic Lateral Sclerosis is a horrible disease that can strike anyone,? said Senior Loan officer Amber J. Altman. ?The ALS Association is a fantastic organization committed to finding a cure, and it?s an honor for Foundation Financial Group to support it.?
About the ALS Association
Established in 1985, the ALS (Amyotrophic Lateral Sclerosis) Association is the only non-profit organization fighting Lou Gehrig?s Disease on every front. By leading the way in global research, providing assistance for people with ALS through a nationwide network of chapters, coordinating multidisciplinary care through certified clinical care centers, and fostering government partnerships, the Association builds hope and enhances quality of life while aggressively searching for new treatments and a cure. As the preeminent ALS organization, the association leads the way in research, patient and community services, public education, and advocacy. The organization gives help and hope to those facing the disease. The Association?s nationwide network of chapters provides comprehensive patient services and support to the ALS community. The mission of the ALS Association is to lead the fight to cure and treat ALS through global cutting-edge research, and to empower people with Lou Gehrig?s Disease and their families to live fuller lives by providing them with compassionate care and support.
About Foundation Financial Group
Foundation Financial Group, one of the nation?s fastest-growing financial services companies, specializes in mortgage lending, property and casualty insurance, life insurance, retirement services, personal taxes and corporate tax services. Foundation Financial Group operates seven regional centers as well as a branch network of retail storefronts across the Midwest. Foundation Financial Group offers mortgage refinancing and first-time buyer lending through traditional financing, as well as Federal Housing Administration and other government-backed home loan programs. Foundation Financial Group enjoys an A+ rating from the Better Business Bureau, the highest accreditation the BBB gives, and an industry-leading Federal Housing Administration compare ratio. For more information, call 866-334-1001 or visit ffg.com.
For additional information, interview and image requests, contact The AXIA Public Relations Firm at 866-999-2942, ext. 700.
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