Message #21 From:
NewsBot Date: March 6, 2007 11:29:00 AM
LFDG News LitFunding Corp Appoints New Director
LAS VEGAS--(BUSINESS WIRE)--Mr. Morton Reed, Board Chairman of LitFunding Corp (OTCBB:LFDG), announced today that as the Company continues its ongoing restructuring and evaluation of additional opportunities, the company is pleased to advise that Mr. Dennis H. Johnston has accepted an appointment to the Board of Directors of LitFunding Corp.
Mr. Johnston has extensive experience in the areas of corporate governance and finance, deal structuring, inception and development of venture capital pools, and has successfully completed over $3 billion worth of mergers and acquisitions. Mr. Johnston has consulted to and represented over 150 public companies as their legal counsel and has lectured extensively at the executive level, on regulatory compliance, business development as well as project management. In addition to his legal practice, he has been directly involved in management, acting as CEO and Chairman of the Board of several companies over the past 10 years. Through Mr. Johnston’s vast experience and participation in workshops and training courses with the NASD and the Bulletin Board Exchange, he brings to the Corporation current and in-depth knowledge of regulatory issues faced by listed companies on the U.S. stock exchanges.
About LitFunding Corp
LitFunding, until recently, has been specializing in the funding of litigation, through its wholly owned subsidiary LitFunding USA. Recently LFDG acquired 100 percent of Easy Money Express, a startup in the payday loan advance business, to provide an additional business model in the money lending business. Mr. Reed has indicated that since the company's exit from bankruptcy, it was important for the company to establish some additional lines of business which complement their lending money to litigants. Additionally, LitFunding recently acquired Global Universal through a merger with one of LitFunding's subsidiaries, Silver Dollar Productions. Global Universal's goal is to film back-to-back low-budget films for movie, television and DVD releases.
Forward-Looking Statements
This news release may contain forward-looking statements concerning the company’s business and future prospects and other similar statements that do not concern matters of historical fact. Forward-looking statements relating to product development, business prospects and development of a commercial market for our products and services are based on the company’s current expectations. The company’s current expectations are subject to all of the uncertainties and risks customarily associated with developing business ventures including, but not limited to, risks associated with new product development, risks to marketed products and services and availability of financing and other sources of income. The company’s actual results may differ materially from current expectations. Readers are cautioned not to put undue reliance on forward-looking statements contained in this release. The company disclaims any intent or obligation to update publicly these forward-looking statements, whether as a result of new information, future events or for any other reason. Certain statements in this news release may contain “forward-looking” information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Act of 1934 and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release may include forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will be accurate and actual results and future events could differ materially from those anticipated in such statements.
All statements in this news release that are other than statements of historical facts are forward-looking statements, which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates," "believes," "could," "expects," "intends," "may," "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.
A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions.
