RENO, NV--(Marketwired - Mar 14, 2016) - WGE Holdings today announces its corporate restructure plan.
Restructure of the Company
a. Board Member Election:
1. Chairman of the Board: Christopher James McKenna
b. Officer Elections:
2. Chief Executive Officer- Christopher James McKenna
3. Chief Operations Officer- Gerry Martin
Election of Officers
Chief Executive Officer: Christopher James McKenna:
Mr. McKenna joined the United States Navy in 1990 at the age of 17 where he attended Great Lakes Naval Gunnery School and Electronic Engineering Training before being deployed to the Middle East. Mr. McKenna served with distinction and honor receiving awards and accommodations including battle effectiveness, national defense award, physical fitness, and Sailor of the Month three times in a seven month period. Mr. McKenna was wounded in June of 1992 and discharged from the Navy in October 1992. Mr. McKenna started his second company (Public Investment Holdings Corporation PIHC) in 1992, which he still is a share holder in today.
After two years of physical therapy, Mr. McKenna went on to study Chemistry at Purdue University. Mr. McKenna has achieved and participated on patents, copy rights and trademarks as part of his portfolio along with numerous awards and certificates including Congressional Letters, Awards and a Presidential Recognition for work in the Fire Arms Industry. Mr. McKenna combines real-life experience with a willingness to think outside the box and bring solutions to complex problems in the work place.
For over 25 years, Mr. McKenna has been building businesses and charity organizations related to entertainment and manufacturing.
Currently Mr. McKenna sits on the board of the Army Navy Union, Am Vets, Veterans of Foreign Wars (VFW), Happy Panda Manufacturing USA, Happy Panda EU, and 4 other manufacturing companies located in Fort Wayne, Indiana. Mr. McKenna brings a raw and natural ability of communication and connections to the project that will open doors and bring to bear resources not available to competition.
- Over 25 years of business experience
- 7 Years NASCAR experience
- 3 NFL experience
- Former CEO of a business incubator
- Creator of Concept
- Vision of Corporation
Chief Operations Officer: Gerry Martin
Mr. Martin is owner of The Martin Group, a Multi-Faceted Hospitality consulting firm. Focusing on theme parks, fairs, and Concessions along with restaurants & nightclubs. Gerry Martin is also Vice-President of Martin's Concessions, where they have done 25-30 fairs in Indiana, Northwest Ohio & Southern Michigan. Martin & Martin's Concessions have several patents pending on concession related products. Gerry Martin owned and operated Pier 32, a premier destination restaurant on Hamilton Lake, Indiana, with revenues over $2 Million in annual sales. Pier 32 was responsible for the beginning of the Gastronomy movement in Northeast Indiana, Northwest Ohio & Southern Michigan. Pier 32 was a destination for dignitaries from around the state to make a pilgrimage to, including President Obama.
Mr. Martin was Vice-President of Martin's Amusements. Martin's Amusements owned & operated roller coasters, ferris wheels, merry-go-rounds, swing rides & other various attractions. Mr. Gerry Martin enjoys volunteer work with the University of Saint Francis in Fort Wayne, Indiana, where he runs their Men's Basketball Sixth Man Club. He also volunteers with the Hamilton Fish & Game club, which is a conservation group in Hamilton Lake, Indiana. Mr. Martin has a special place in his heart for helping coach youth basketball teams and run youth basketball camps. With over twenty years of amusement park and hospitality experience as an Owner and operator, Mr. Martin is a key man of the overall corporate strategic vision and operation of WGE Holdings.
- Studied Political Science Purdue University
- 25 years of business experience
- Former CEO of a Hospitality and Entertainment Corporation
- Creating, communicating, and implementing the organization's vision, mission, and overall direction. Leading the development and implementation of the overall organization's strategy.
- Leading, guiding, directing, and evaluating the work of other executive leaders including presidents, vice presidents, and directors, depending on the organization's reporting structure.
- Soliciting advice and guidance, when appropriate, from a Board of Directors.
- Formulating and implementing the strategic plan that guides the direction of the business or organization.
- Overseeing the complete operation of an organization in accordance with the direction established in the strategic plans.
- Evaluating the success of the organization.
- Maintaining awareness of both the external and internal competitive landscape, opportunities for expansion, customers, markets, new industry developments and standards, and so forth.
- Representing the organization for civic and professional association responsibilities and activities in the local community, the state, and at the national level. (Other executive leaders bear responsibility for these ventures as interested or assigned as well.)
- Demonstrating the leadership necessary to make the organization's mission a success. This leadership includes providing leadership vision, leadership that attracts followers, and all other aspects of successful leadership.
State of the Corporation
Personnel: First and foremost, we recognize that we are in the people business. All of this is people working with people, and on a human level our personnel are very skilled in interpersonal human relations.
Our team will be concentrating on growth through acquisition of businesses in the one to five million dollar ($1,000,000 - $5,000,000) range with strong track records and then applying our formula for growth and duplication to reduce entry barrier obstacles and replicate existing revenue positive business into new demographically and fiscally viable markets under our umbrella.
Acknowledgements
The corporation would like to acknowledge Mr. John Durocher (DBA: John Parker) for his contributions to the development of the company. The Corporation would like to clarify that Mr. John Durocher (DBA: John Parker) is not an officer or director of the company. Instead he works as an independent contractor specializing in Mergers and Acquisitions and WGEE may utilize his services on an "as needed" basis. We would like to wish Mr. John Durocher luck in any and all new ventures.
The corporation would like to thank Mr. Scott Lawler for all of his early contributions to the development of the company and recognizes his contribution. The Corporation has severed ties with him and we would like to wish him all the best in his new endeavors.
The corporation would like to thank Mr. Robert Stephens for all of his early contributions to the development of the company and recognizes his contribution.
Organization
The company will be launching three separate divisions under new management:
1. The Holdings Division, where all assets with be held.
2. The Development Division, where developmental business units will be held.
3. The Administration Division that will be responsible for managing all units under the corporate umbrella.
Legal
The company has retained L.A.R. Law Group, New York for its regulatory needs: www.larlawgroup.com.
Specializing in Securities Law, L.A.R. Law Group provides a wide variety of services to our local community, as well as nationally and internationally. L.A.R. Law Group was founded by Lorin A. Rosen in late 2010 after a long and diverse career in the legal field. Lorin's experience ranges from securities law to being in-house counsel for public companies to general contract law.
L.A.R. Law Group does not focus on litigation. Ms. Rosen provides legal services including but not limited to preparing documentation on all levels for public companies, establishing corporate entities, residential real estate representation, and a wide variety of unique, corporate legal issues that are presented to a Company, whether public or privately owned.
Financial
- Accountants: WGE Holdings has prepared financial statements in accordance with US-GAP and is in the process of having them audited to file and meet the OTC regulations to move to the OTC: QB. Further updates on moving to the OTC.QB will be provided in the future.
- Financial Advisors: WGE Holdings will engage financial advisors to manage corporate monies both pre and post tax in an effort to maximize corporate profits. WGE Holdings is actively interviewing financial advising firms and has narrowed the selection; further updates on Financial Advisor Selection will be provided in the future as well.
- Transfer Agent: WGE Holdings has paid over $8,000 to the Transfer Agent for the previous Officers/ Owners' mishandlings of company business and failures to meet business practice standards. Transparency is key to the success of the corporation and execution of direction by Officers. We anticipate no further issues with the transfer agent and have worked diligently to resolve all issues from previous management.
WGE Holdings Officers and Directors have never been more committed to success after spending over $450,000 to ensure future operations and execution of corporate direction and core principles.
Software
WGE Holdings will be adopting and integrating a number of software solutions into the corporation for efficiency and profitability.
1. Adoption of universal office software with cloud based solutions
2. Adoption of financial software with cloud based solutions
3. Adoption of CME software with cloud based solutions
4. Creation of secure electronic signatures:
Website
WGE Holdings Corporation has contracted Dream-Team Network's Web design team for the completion of the corporate web site and paid all expenses up-front via contribution from the management team. We anticipate completion of the Website by April 15th 2016. WGE Holdings will publish regular updates and content changes as the execution of our corporate mission and plan comes to fruition. To view the website in its current form, visit www.wgeholdings.com
Social Media
WGE Holdings Corporation will be deploying an active social media campaign to increase brand recognition, improve brand loyalty, engage more opportunities to convert, increase conversion rates, create a higher brand authority, increase inbound traffic, decrease marketing costs, improve search engine rankings, enrich customer experience, and improve customer insight into our operations. We anticipate deployment in early second quarter 2016.
Next Steps
During the second quarter of 2015 WGE Holdings Corporation will be:
1. Implementing a Standard Operating Procedure (S.O.P)
2. Updating its website to include active SEO
3. Producing and publishing to our investors a marketing plan
4. Producing and releasing to our investors a business plan
5. Launching a green initiative
6. Producing marketing and collateral material,
7. Launching an investor relation campaign
8. Implementing universal software solution
9. Actively engaging in acquisitions,
10. Updating shareholders and clients through social media
11. Participating in road shows.
Acquisitions
There are several acquisitions on the table currently. Due diligence has commenced and the selection process of our first acquisition is estimated to occur the first (Q2) of 2016.
We will be conducting several million dollar acquisitions before perusing opportunities to the tens of millions of dollars as we continue to refine our process and selection methodology. Utilizing Principles of Six Sigma and other "Lean" methodology, we will be evolving the acquisition and integration process to maximize profits and reduce expenses while improving the quality of companies we select and acquire.
- The company entered into Escrow for Acquisition of Master Engines
Business Summary of Master Engines (ME) an Arizona Corporation has entered into an agreement to be purchased by WGE Holdings Corporation.
Christopher James McKenna commented: "Master Engines (ME) is presently and has been an extremely successful and profitable automobile engine rebuilding business with pre-tax profits exceeding $700,000 annually and a growth rate of 35% each year. Our plan with the acquisition is to expand into larger facility in order to double profits to $1,500,000 in the next year. There is currently a month long wait list for the company and they are actively turning away business with current facility restrictions. The business has a fantastic net profit of 50% of gross sales."
With a larger facility under negotiations currently, the business will expand to include, but is not limited to, other auto related vertical market business units such as collision repair, auto body repair, auto restoration, tire sales and installation, used car sales/ and rent-to-own programs involving pre owned high end luxury vehicles.
The present facility being negotiated consists of 6.4 acres of prime real estate, with a 12,200 square foot showroom, 12.950 square foot service area, ten (10) two service vehicle bays and a 3,000 square foot steel building for body shop operation.
The company has built a 5 year plan designed to sell outright to either a managing partner or third-party buyer.
Shareholder Communications
WGE Holdings will handle its own corporate communications to share holders and will schedule regular quarterly conference calls to discuss its recent public merger, current business operations, and 2016 financial projections.
WGE Holdings is working to develop a more established shareholder communication department, and will work on providing an up-to-date website for easier communication between the market and our company.
Shareholders wishing to request more information about our new operations are invited to contact the company at 888-427-5380.
Investor Relations
In addition to updating our web page with investor relations material on a scheduled basis, WGE Holdings Corporation will be publishing reports (annual and quarterly) in a downloadable PDF format. We will also be publishing a new business plan downloadable in PDF format for investors, along with collateral and marketing material that will be used by staff as part of our overall sales strategy. Investors will have access to these PDF's and be kept up to date with real time updates on products and services.
Forward-Looking Statements
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future development activities, and are thus prospective. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of the Company, its directors or its officers. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the factors that could cause actual results to differ materially from those indicated in the forward-looking statements are risks and uncertainties associated with the Company's business and finances in general, including the ability to continue and manage its growth, competition, global economic conditions and other factors discussed in detail in the Company's periodic filings with the Security and Exchange Commission. The Company undertakes no obligation to update any forward-looking statements.