SOURCE: World Assurance Group Inc.

February 01, 2010 08:15 ET

World Assurance Group (WDAS.OTC) Subsidiary ANAV Holdings to Launch New Subsidiary to Focus on Purchase Order Financing

WDAS to Provide Short-Term Credit to Small and Midsize Companies That Sell Everything and Anything Even if the Loans Are Vastly More Expensive Than Traditional Ones From Banks

NEW YORK, NY--(Marketwire - February 1, 2010) - World Assurance Group (PINKSHEETS: WDAS) announced today that its subsidiary ANAV Holdings Corporation is launching a new subsidiary to focus on the Purchase Order Financing.

Purchase order financing (or PO Funding) is a short-term commercial finance option that provides capital to pay suppliers upfront so companies don't have to deplete cash reserves. Purchase order financing is designed for growing businesses with little access to working capital and/or poor cash flow. The type of business that qualifies is usually a producer, distributor, wholesaler or reseller of manufactured products.

Jonathan B. Morgan, President of WDAS, stated, "With the lack of financing currently available for small and medium sized business, with lines of credit and bank loans not filtering to those companies that need it, we stand prepared to start offering these services to keep small business in order and to allow companies to recapitalize effectively with the right amount of working capital."

About World Assurance Group Inc (PINKSHEETS: WDAS)

World Assurance Group through its wholly owned subsidiary ANAV Holdings Corporation intends to participate in all areas of real estate transactions, including direct ownership, co-investment with other institutions or developers, as well as indirect participation through the acquisition of distressed debt and/or non-performing loans with the eventual goal of control of the underlying assets. For more information please visit www.anavholdings.com

Forward-Looking Statements

This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended and such Forward Looking Statements are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to the viability of the company's business plans, the effect of acquisitions on our profitability, the effectiveness, profitability, and the marketability of the Company's products; the Company's ability to protect its proprietary information; general economic and business conditions; the volatility of the company's operating results and financial condition; and other risks detailed in the Company's filings with the Securities and Exchange Commission. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the company and the industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the company believes that the expectations expressed in these forward-looking statements are reasonable, management cannot assure the public that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.

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