SOUTHPORT, N.C., Feb. 1, 2012 /PRNewswire/ -- Bullzi Holdings,
Inc. (Pink sheets: BLLZ), formally Bullzi Security, Inc., a leading
security consulting and education provider, releases preliminary
2011 year-end financials and announces changes to the company
structure.
Bullzi Holdings closed 2011 with $
908,214 in revenue, which represents a 5% increase over the
same period last year. More importantly, net income for this
period was $265,107, as compared to a
gain of $76,014 for the same period
in 2010. Michael Welch,
co-founder and CEO of Bullzi Holdings and president of Bullzi
Security, now a wholly-owned subsidiary of Bullzi Holdings, stated,
"While economic conditions have continued to stay stagnant, the
company continued to have an increase in, both, revenue and
profits."
Mr. Welch went on to say, "The challenge for our company has not
been in operations; it has been the lackluster performance of the
stock and low trading volume. Because of this, management
chose not to renew its subscription with the Pink Sheets until a
new strategy could be adopted. As such, the company currently
has 'OTC Pink No Information' status with the OTC. This will
be remedied in the coming weeks, when we post our Annual
Report."
Mr. Welch continued by saying, "Over the past five years, the
company has shown linear growth and has been profitable for the
past two years. During this period, the company has
continued to expand its client base, as well as its product
offering. As the economy started to falter, we conducted
business using very conservative strategies. While this
resulted in continued, albeit slow, growth, it didn't have the
impact that the public anticipated. To counter this,
management has decided to change the company structure. This
will be both beneficial to our current shareholders and exciting
for potential new shareholders."
On January 30, 2012, the company
is changing its name to Bullzi Holdings, Inc. The name change
corresponds to a shift to the "holding company" status, which will
provide the flexibility needed to enter into new markets. As
a holding company, Bullzi Holdings plans to acquire other companies
providing for both growth and diversity.
The diversity of being in multiple industry sectors will provide
three primary benefits: a greater selection of companies to
acquire, a reduction of risk as the Company's assets will be spread
throughout multiple industries or sectors, and a wider
population of potential shareholders, whose interest may be in one
of the new sectors that we enter. The company did retain its
current stock symbol (BLLZ).
Mr. Welch went on to say, "During the past two months, company
management has considered incorporating two closely held companies
into Bullzi Holdings. In addition, we have also been actively
engaged in the review of a number of companies for potential
acquisition. We believe that this new strategy will not
only result in greater revenues and profits for the company, but it
will also provide greater diversity and risk reduction for our
shareholders, as well as a heightened level of interest for the
public stock."
Bullzi Holdings currently has three, wholly-owned subsidiaries:
Bullzi Security, LLC (Information Security), Creative Forecast, LLC
(Web Application Design and Development) and WISE Learning
Solutions, LLC (On-line Education). As the company
brings on new subsidiary's it will also add to its management team;
this includes potential new Board positions, as well as key
executive roles. Bullzi Holdings will also be creating a
Advisory Board to help the company enter new markets and identify
potential candidates for acquisition.
While the primary goal of any acquisition will be the purchase
of profitable firms, the company will also consider emerging or
fast-growth companies as part of the acquisition selection
process. Additionally, the company may choose to serve as a
business incubator, which will help to accelerate the successful
development of entrepreneurial companies through an array of
business support resources and services, developed and orchestrated
by company management.
Once this is completed, the company will be posting a series of
press releases that will advise on the status of any planned
acquisitions. As revenues approach $5M, the company will have its financials
audited, as a precursor to moving to the OTC-BB.
About Bullzi Holding Company Inc.
Bullzi Holdings, Inc. is a publicly-based holding company that
does business in multiple industry sectors. While the Company
has its roots in the Information Security and Education sector, it
now will serve as the parent company of a wide variety of leading
edge and profitable firms.
The Bullzi Holdings, Inc. trading symbol is (BLLZ.pk).
CONTACT:
Michael Welch
Bullzi Holdings, Inc.
1-800-279-8850
mdwelch@bullzisecurity.com
www.bullzisecurity.com
SOURCE Bullzi Holdings, Inc.