SOURCE: Wyncrest

February 21, 2011 18:12 ET

Wyncrest Group, Inc. Expands Board of Directors

PALOS PARK, IL--(Marketwire - February 21, 2011) - Wyncrest Group, Inc. (PINKSHEETS: WNCG), a growing financial services organization, is expanding its Board of Directors. New Board members include Messrs. Stephen Vlahos and Kevin Jasper.

Stephen Vlahos has over thirty (30) years' experience in the securities business and has held NASD series licenses 7, 8, 24, 53 and 65 licenses. He is currently President of Performance Plus Advisors, Inc., a distressed debt money management and research firm.

Kevin Jasper has spent most of his career in the private sector as CEO and Director for small corporations in the Commercial Recording, Real Estate and International Entertainment Distribution industries. Mr. Jasper is currently President of a Manhattan, NY real estate and property management company and also a partner in Groove Capital Entertainment Group, LLC.

The past few months Wyncrest Group, Inc. has encountered shifting governmental and regulatory challenges requiring their full attention to ensure the proper people and procedures were in place. During this time, the executive management reevaluated the strategic direction of the company while waiting for the right economic, political and business climate to fully launch its aggressive going forward plans. These measures were felt to be necessary to ensure the company is setting out on the absolute best path for the long-term benefit of all its stakeholders, which includes clients, employees and shareholders. Wyncrest Group, Inc.'s plans are to now actively and diligently pursue the charted course with the complete commitment of the new Board of Directors and the Executive Team.

Mr. William McFarland, Chairman of the Board of Wyncrest Group, Inc., commented: "First and foremost I appreciate the patience and continued support of our shareholders. While we felt good about our direction this past year, it became apparent to us that we must be selective on initiating our comprehensive plan as to compliance, timing and strategy. We take our responsibility to our clients, employees, and shareholders very seriously and the hard work we have put in the past few months will pay off for everyone as we now fully launch into 2011."

About Wyncrest Group, Inc. (PINKSHEETS: WNCG)

Wyncrest Group, Inc. is a growing financial services organization. Wholly owned subsidiary Southwest Financial Group has been delivering insurance products and financial services since 1994, serving more than 22,000 clients throughout the United States. By developing the growth potential from within its existing businesses and acquiring companies with market share in lucrative financial segments, Wyncrest Group, Inc. is committed to increasing value for shareholders.

Forward-Looking Statements -- Safe Harbor

This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Wyncrest Group, Inc., its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. 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 Wyncrest Group, Inc.'s ability to control, and actual results may differ materially from those projected in the forward-looking statements as a result of various factors.

Contact Information

  • Contact:
    Wyncrest Group, Inc.
    9654 West 131st Street, Suite 215
    Palos Park, IL 60464 USA

    Investor Relations
    investor@wyncrestinc.com