NEW YORK, NY — (Marketwired) — 11/14/13 — Worldwide Internet, Inc. (OTC Pink: WNTR) announced today that it is evaluating investment opportunities in the employee leasing industry in the United States and Europe. The potential opportunities would provide in excess of $100m in revenue and provide earnings of least $5m in 2014.
An employee leasing company is responsible for employing the worker, paying the wages, handling taxes, and managing benefits for that employee. It is dedicated to providing tax efficient services for consultants, contractors and employees.
The company also provided a further update for shareholders as it changes its profile to a diversified holding company.
The transaction to acquire the assets of Ludvik Holdings, Inc. has been completed, subject to the retirement of the outstanding debt by December 31, 2013. The company has received a commitment to retire the debt by December 31, 2013. This will provide the company with more than $20 million in assets to company with no debt in 2014.
The next steps have been taken in the development of the Five MegaWatt (5MW) Solar Energy Park based in Camden County, North Carolina. The $10 million project will be 65% financed by Federal and State Credits and the balance from a twenty five year power purchase agreement from an A rated energy company. It will provide a significant asset and cash flow for shareholders for the next twenty five years commencing in 2014.
The company is currently completing the financing of a $100m oil and gas transaction based in the Gulf of Mexico. The transaction is expected to close in the fourth quarter.
The company has retained Micro News Report, who specializes in bringing news and relevant information about small-cap, mid-cap and generally undervalued companies to the attention of potential new investors. These reports lead to additional investments and market opportunities for growth capital and financing.
Frank Kristan, President of Worldwide Internet, Inc., stated that:
“We are executing on our business plan to develop a diversified holding company and look forward to retiring our debt and significantly expanding our assets and revenue in 2014. This will provide increased shareholder value and distributions to shareholders.”
Worldwide Internet, Inc. is currently trading on the OTC Markets () under the trading symbol WNTR.
Worldwide Internet, Inc. (OTC Pink: WNTR) () is in the business of developing technology for internet datacenter services and emergency notifications to the public. The company is focused on making investments to diversify its business operations and holdings.
This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those expressed or implied in the forward-looking statements as a result of a number of factors, including those described from time to time in filings with the OTC Markets and. undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.
Contact:
Frank Kristan
Phone/Fax: (206) 984-3470
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