SOURCE: Equus Resources, Inc.

March 30, 2007 08:00 ET

Equus Resources Announces Plans for Annual Meeting and Completion of Spin-Off

ATLANTA, GA -- (MARKET WIRE) -- March 30, 2007 -- Equus Resources, Inc. (PINKSHEETS: EQUR) ("Equus") announced today that it intends to call an annual meeting of its stockholders as soon as possible. The Company is actively seeking nominations for directors. It wants to expand the Equus Board of Directors to a minimum of 5 and a maximum of 7 directors and plans for the majority of the new Board to be independent directors. Notice of the date and place of the annual meeting will be sent to all stockholders.

In other news, Equus announced that management's draft of the Company's financial statements are currently being reviewed and revised by its CPA firm and a financial consultant. As soon as this process has been completed, the Company will release the statements publicly.

The Company also announced that it is preparing an annual report to stockholders which it will release publicly and make available to all stockholders.

In further news, Equus announced the completion of the spin-off of its education business, along with the Garfield® Early Learning business of Best Practice Network, Inc. ("BPN"), into Education Partners International, Inc. ("EPI"), formerly World Education Partners, Inc.

Equus also announced today that it has engaged the services of a real estate professional with 30+ years' experience and expertise in real estate development, acquisition, management, finance, taxation, and law to assist the Company in refining and implementing its previously announced real estate acquisition strategy. The Company believes this strategy will advance and add to its original mission of creating a financial services "one stop shop" for middle America.

In other news, the Company announced that Equus Realty Group, Inc., its Florida and Georgia licensed real estate broker, has commenced business in north Georgia.

In making these announcements, Randy Harris, President of Equus, stated: "A major focus of 2007 and beyond will be much better communication with our stockholders. We recognize that major improvement in this area is needed and we are committed to making this happen. We believe the spin-off of our education operations into EPI will facilitate the focus of current Equus management on Equus and its financial services and real estate operations, and will enable the education professionals in charge of EPI to concentrate 100% of their time and effort to building a premier education company."

Forward-Looking Statements:

Any statements made herein which are not historical facts contain certain "forward-looking statements," as such term is defined in the Private Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the Company to which this release pertains. The actual results of the specific items described in this release, and the Company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgment of management of the Company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties, including, without limitation, the Company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, the receipt of revenues, and other factors, many of which are beyond the Company's control.

Contact Information

  • Contact:

    Randy Harris