CHICAGO--(BUSINESS WIRE)--Ulysses Diversified Holdings Corporation (PINKSHEETS: UDHC) announced today that it has completed its second acquisition, S&H Leasing, Inc. via a cash & stock deal. UDHC will pay $100,000 dollars in cash via a note payable over the next twelve months and 4.8 million restricted (for one year) shares. S&H Leasing is a small boutique Company domiciled in Illinois that has been in business since 2002. The Company will continue with its current operations and are planning to utilize UDHC’s existing operations and expertise to expand their revenue stream as well as product offerings.
S&H Leasing, Inc. which had a minimum amount of revenues ($76,135) during 2009 included net profits of ($26,892 or 35%) and assets valued at ($108,671) currently 2010 year-end financial information is in review with our accountants and those numbers will be released when they have completed the 1120S tax return however revenues for 2010 had an increase of (20%) for that period.
In other matters the Company has closely reviewed their current NOBO, OBO & Corporate Stock Transfer shareholder lists. The Company has been able to identify one shareholder of which owned nearly five million shares and over the past few months has sold nearly all of their shares. This person is not affiliated with the Company nor has the Company had any contact with this individual and have no idea what their reasons for selling are. Also the OBO (Shares held in brokerage accounts) list which had just over seven million shares has also dropped about (30%). Between the NOBO & OBO lists, insiders’ shares and the restricted certificates there are only approximately twenty-four million shares actually being traded in the market. The rest are held in accounts which have not bought or sold shares in over six months. The Company remains committed to creating shareholder value while growing the business through internal growth and acquisitions with the limited or non use of any free trading shares.
"The completion of this transaction although not significant in terms of revenue at this time the established infrastructure that is being acquired will enable us to offer additional financial and product alternatives to existing and potential new clientele while creating revenue growth to our current business. We see this acquisition as an important strategic move towards achieving the goals we have set out for our company of being able to provide as many reasons to do business with us as possible thus increasing overall revenue for UDHC and its subsidiaries," Jean Howe, President & Chief Executive Officer stated.
This press release does not constitute an offer of any securities for sale. This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ. All forward-looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.