HOUSTON, TX – (via BUSINESS WIRE) – Baltic International USA, Inc. (Pink Sheets: BISA) announced today that the Company signed a letter of intent with Rhodes Holdings LLC to implement a business plan providing bridge capital and consulting to small-cap publicly traded companies.
The new joint venture will be managed by Rhodes Holdings LLC’s managing member, Robert C. Rhodes, whose experience working with publicly traded companies as CEO, board member, investor and consultant provides the basis for the joint venture’s business plan. The business plan focuses on the following bridge events: Pink Sheet, non-reporting public companies transitioning to financial audits and disclosure; OTC:BB public companies, with no burn rate and profitable operations, that have specific projects with a high operational return; and private companies filing SEC registration statements to become reporting public companies.
David Grossman, Baltic’s Chief Executive Officer said, “Although Baltic has just recently negotiated with Mr. Rhodes, I have personally worked in conjunction with Mr. Rhodes in various capacities since 2005. Mr. Rhodes’ attention to detail, ability to raise funds, and implement a bridge transaction is very important to the future success of our joint venture.”
About Baltic International USA, Inc.
Baltic International USA, Inc. (www.baltic-intl.com) is a Texas corporation that has provided capital, management, and technical services to start-up and established private companies. In most instances, we are directly involved in management and in all instances assist in allocation of capital either directly from us or through the investment of third parties.
About Rhodes Holdings LLC
Rhodes Holdings LLC (www.rhodes-holdings.com, “RHL”) provides management consulting services that allow its clients to seek financing through the public markets, either through mezzanine debt, equity, or bank debt. RHL management consulting is provided within the framework of its copyrighted and RHL Methodology documented.
Safe Harbor Statement
The statements in this presentation that relate to the Company’s expectations with regard to the future impact on the Company’s results from new products in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The results anticipated by any or all of these forward-looking statements may not occur. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company’s plans or expectations.
Baltic International USA, Inc.
David Grossman, 713-961-9299
Chief Executive Officer
Copyright © 2010 by Rhodes Holdings LLC
Originally published via Business Wire (original posting)