ATLANTA, GA / ACCESSWIRE / May 22, 2014 / Dutch Gold Resources, Inc. (DGRI.OTC) (the "Company") (http://dutchgoldinc.com) today provided a summary of business activity covering the last six weeks.
Since its’ last press release the Company has been active in all three of its major business segments, Merchant Services, Financial Services and Merchant Banking. Based on current activities, DGRI expects to begin generating revenue early Q3 2014. The Company expects that it will generate revenue from each of its business segments during third quarter, with growth in each segment Q4 2014 and thereafter.
The Company has been aggressive in its’ efforts to strengthen its’ balance sheet and expects to have significantly mitigated existing liabilities by the end of Q3 2014.
DGRI has begun recruiting new directors to its Board and expects to have a Board of Directors that is meets the qualification standards for a National Market Listing by the end of Q3 2014.
Special counsel has been retained and is interacting with the Depository Trust Corporation. We have filed approximately one thousand pages of documentation as to the matter of the "Chill" and expect some movement on this matter over the next six weeks.
The Company has retained inside accounting services who are coordinating with the former auditors of the Company to bring the Company current in its reporting with the Securities and Exchange Commission. We expect to file an 8K appointing new auditors prior to month end, with the submission of our accounting and audit books to them prior to the end of Q2 2014.
DGRI has expanded its outreach to the MMJ sector in the Financial Services and Merchant Banking. These business segments are receiving multiple inquiries from companies looking for financing every week. We are currently evaluating a dozen such opportunities and believe that two transactions will be consummated between June and July of 2014, with generating both fee income and equity build up to DGRI. One of the transactions will provide the basis for a dividend announcement prior to the end of Q2.
Daniel Hollis, CEO of the Company noted, "We appreciate the trust that our shareholders have placed in DGRI. We are moving from concept stage to implementation and are enthusiastic about our near term prospects. To better inform our constituencies, we are retaining CannabisFN (www.CannabisFN.com) to build out a new website, to develop and manage our communications in the MMJ sector, and to advise us as to strategic development."
This press release contains forward-looking statements that reflect the Company's current expectation regarding future events. Actual events could differ materially and substantially from those projected herein and depend on a number of factors. Certain statements in this release, and other written or oral statements made by Dutch Gold Resources, Inc. are "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. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors, which are, in some cases, beyond the Company's control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Important factors that could cause actual results to differ materially from the company's expectations include, but are not limited to, those factors that are disclosed under the heading "Risk Factors" and elsewhere in documents filed by the company from time to time with the United States Securities and Exchange Commission and other regulatory authorities.
For further information, please see www.DutchGoldInc.com or please contact Daniel Hollis, CEO of Dutch Gold Resources, Inc. at 404-981-7424.
SOURCE: Dutch Gold Resources, Inc.