|By Marketwired .||
|February 7, 2014 05:42 AM EST||
IRVINE, CA -- (Marketwired) -- 02/07/14 -- Global Vision Holdings, Inc. (OTCQB: GVHIB), a diversified holding company focusing on environmentally responsible, profitable and growing companies, announced today that they have signed a letter of intent to purchase 100 percent of Art Masters, Inc.
About Art Masters, Inc.
Formed over 25 years ago, Art Masters, Inc. has served as the premier provider in interactive, multi-media Art education to elementary school students worldwide. As California's leading art program, Art Masters, Inc. has introduced Monet, Picasso, Van Gogh and a total of 35 master Artists to more than 2 million Kindergarten thru 8th graders. In 1985, Bonnie Steele began Art Masters, Inc. as a volunteer project for her daughter's sixth grade class at Del Lago School in Mission Viejo, CA. The program's popularity spread quickly, and today Art Masters, Inc. employs over 45 teachers. The program continues to grow with the help of thousands of volunteers. Though its roots are in California, Art Masters, Inc. has spread to every region of the U.S. and internationally. Several years ago, Mr. Stuart Groman, President of Art Masters, Inc. took on this role wanting to continue on with his late wife's legacy. Primarily focused on teaching young students the relevance of Art and the importance of keeping this tradition alive; Art Masters, Inc. contracts teachers who serve over 250 schools. The teachers work one on one with the students and the students look forward to these teachers coming to their schools. With all of the budget cuts, Art Masters, Inc. has been able to establish long term relationships with these schools and does not rely on government funding for continued success. The schools, parents and other charitable foundations provide all of the funding, making Art Masters, Inc. a very profitable and niche organization.
Glen Carnes, CEO of Global Vision Holdings, Inc., states: "Art Masters, Inc. is one of many companies we have pursued over the last 6 months based on its strong fundamentals and we look forward to the continued success of the company. Art Masters, Inc. fits right into our current portfolio of companies with strong cash flows and tremendous amounts of room for growth and profitability. We look forward to growing their presence in this marketplace, increasing the amount of schools they can service state wide and nationally, and moreover, continuing on with the legacy that Mr. Groman's wife established over 20 years ago. In addition, our current strategic plan for the next 6 months is to raise 3-5 million dollars in additional capital to continue to add to our growing portfolio of successful companies and increasing shareholder value."
About Global Vision Holdings, Inc.
Headquartered in Irvine, California, Global Vision Holdings, Inc. is a diversified financial holding company that evaluates acquisition and investment opportunities with a focus on up-and-coming and growing businesses. Global Vision Holdings, Inc. uses a superior team of financial research experts and an in-house responsibility analysis to make recommendations for strategic acquisitions. For more information, please visit our website at www.globalvisionholdings.net.
Cautionary Statement Regarding Forward-Looking Statements
This release may include forward-looking statements. These forward-looking statements are based on current expectations that involve risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual results may differ materially. These risks include: changes in business or other market conditions; the challenge of managing asset/liability levels; the difficulty of keeping expense growth at modest levels while increasing revenues; unforeseen challenges with respect to product development and the timing thereof; integration efforts relating to our acquisition activities; uncertainties regarding financing efforts which may be undertaken by the Company; and other risks detailed from time to time in the Company's Securities and Exchange Commission reports, including but not limited to the Annual Report on Form 10-K for the most recent year ended. Pursuant to the Private Securities Litigation Reform Act of 1995, the Company does not undertake to update forward-looking statements contained within this news release.
Chairman and CEO
Global Vision Holdings, Inc.