NEW YORK--(BUSINESS WIRE)--GNCC Capital, Inc. (OTC:GNCP) (“The Company”) has today published a “Management Discussion” pertaining to its recently acquired Gold Coast Gaming Corp (“Gold Coast”).
This was filed on the OTC Disclosure Service; a link to this filing: http://www.otcmarkets.com/financialReportViewer?symbol=GNCP&id=125120
This Management Discussion paper solely deals with and refutes a number of allegations posted on Internet Stock Chat Forums that the businesses owned by Gold Coast are not operating within the Statutes as laid down by the State of Florida.
Such allegations are damaging and harmful to our stockholders and are completely without foundation and have no legal validity whatsoever.
It has become very clear that since our announcement of this particular acquisition on August 12, 2014, that a lot of confusion has been created amongst our stockholders through these questionable postings on various Internet Stock Chat Forums.
The rationale for this acquisition was for Gold Coast to acquire a number of similar operations in South Florida to create a sizeable group of these Arcades and for Gold Coast’s Management to utilize their experience and skill to improve those operations acquired so as to achieve maximum profitability.
Gold Coast and GNCC consider this business model to be very sound and financially viable. The existing Gold Coast Operations are well established, profitable and extremely well managed. GNCC did extensive due diligence into these operations prior to this acquisition and remain very satisfied with this acquisition and with Gold Coast’s prospects.
The Company’s recently appointed Chief Executive Officer, Peter Voss, will be publishing an in depth report on the business of Gold Coast, its acquisition/growth strategy and its prospects in South Florida and very possibly, abroad.
Gold Coast is expected to contribute substantial profits to the Company over a long period of time. It is expected that over time, the business of Gold Coast could become as important to us as are our Mining Exploration Properties.
About GNCC Capital, Inc.:
GNCC Capital, Inc. is a Holding Company which at present has a number of subsidiary companies which are engaged in Adult Social Gaming Arcades in South Florida and in Mining Exploration.
The Company’s Gold & Silver Mining Exploration properties are located in Arizona and consist of “McCracken, Alamo, North Rawhide, White Hills, Esther Basin, Burnt Well, Clara, Kit Carson, Silverfields and Potts Mountain."
The Company intends to continue to diversify into other Industry Sectors through acquisitions.
This press release may contain forward-looking statements. The words "believe," "expect," "should," "intend," "estimate," "projects," variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company's current expectations and are subject to a number of risks, uncertainties and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed in the Company's filings, which are on file with the OTC Markets Group.