SOURCE: Trans Global Group, Inc.

August 20, 2010 08:00 ET

Trans Global Group Releases Business Clarification

FORT LAUDERDALE, FL--(Marketwire - August 20, 2010) -  Trans Global Group, Inc. (PINKSHEETS: TGGI) would like to take a moment and clarify some concerns shareholders of the Company may have.

TGGI has 3 subsidiaries at the moment, Kazore Holdings, Inc d/b/a Full Spectrum Media ("FSM"), All Weather Insulation ("AWI") and Energsave Insulation of FL, LLC. ("ENERG"). Two of its subsidiaries are producing revenue, FSM and AWI. The third subsidiary ENERG, formerly Ecosafe, is being closed down as of August 31, 2010. This division was set up to do installations and training. Unfortunately ENERG has produced very little revenue in the past year and has been a financial drain on the Company. Since the acquisition of AWI, ENERG is no longer viewed as an asset and with its closing will save the Company from having to borrow money to keep it afloat.

TGGI has signed a letter of Intent to sell Kazore Holdings, Inc to American Life Holding Co. ("ALFE") in an all stock transaction. The transaction has not yet been completed, but will be completed in the near future. FSM needs to be audited before the transaction can take place. They have been compiling information for the auditors of ALFE and will be sending that information to them prior to the end of the month. The audit is taking a lot longer than first anticipated because FSM is going through a growth spurt and recently moved into their new 10,000 square foot office. Once the initial information has been delivered the remaining time to complete the audit is usually 60-75 days. TGGI cannot declare a dividend date for shareholders yet because we do not know the true value of FSM or how much stock ALFE will be paying TGGI to complete the transaction. Once the audit has been completed and the price has been determined a dividend record date will be declared.

AWI recently entered into an independent sales representative agreement with Gary Gray to sell rigs and foam for AWI. This agreement should help push the revenues of AWI to over $2 million annually. Gary Gray resigned from American Green Group prior to entering into this agreement. Neither TGGI or AWI have any affiliation with AMNE. TGGI has not and has no intention of offering employment to any other members or former members of AMNE.

On July 8, 2010 the Company announced it was returning 500 million shares of its common stock back to the Company. The Company would like to apologize for a misprint in that release that stated the shares were being returned to reduce the Authorized when the Company meant to state the Outstanding was being reduced. Recently the Company has increased its Authorized shares from 1.5 billion to 5 billion which has made some investors nervous. The Company borrows money to sustain operations for the parent Company TGGI and ENERG and has been since last year. With the closing of ENERG and the projected increase in revenue from AWI this practice should come to an end in the future. 

The Company would like to go on record as stating the reason for the increase in the Authorized was not so the current officers of the Company could issue shares to themselves enabling them to receive most of the shares from the ALFE dividend, which has been a concern of shareholders contacting the Company.

Trans Global Group will be focusing solely on the Green energy sector -- all future acquisitions will be within this industry to complement AWI. TGGI is exploring several exciting opportunities that it believes will help build shareholder value and increase future revenue of the Company. One of the reasons for the share increase was to enhance the opportunities of acquisition.

The Company would also like to state that it does not plan on doing a restructuring now with the planned name change or prior to the transaction with ALFE.

The Company would like to go on record as saying it has never placed a gag order on the transfer agent and it has never asked the transfer agent to withhold any request from its shareholders. The decision not to speak to anyone or share information was made by the transfer agent directly.

The foregoing press announcement contains forward-looking statements that can be identified by such terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. In particular, management's expectations could be affected by, among other things, uncertainties relating to our success in completing acquisitions, financing our operations, entering into strategic partnerships, engaging management and other matters disclosed by us in our public filings from time to time. Forward-looking statements speak only as to the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.

Contact Information

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