World Assurance Group Commences Process to Become Fully Reporting With SEC - New Website to Communicate New Business Direction Underway
March 25, 2014 --
NEW YORK, March 25, 2014 /PRNewswire/ -- World Assurance Group Inc. (www.worldassurancegroup.com) (OTC Pink: WDAS) today announces that it has commenced the process to become fully reporting with the Securities and Exchange Commission ("SEC"), with a view to having the requisite annual audits for years ending December 31, 2013 and 2012 completed within 3 months. It is anticipated that the entire process will take approximately three months, but will be driven by the audit timelines for the previous periods.
In addition, following a number of enquiries via the Company's investor relations email and links, management have decided that the current corporate website, www.worldassurancegroup.com, will be redesigned and re-launched with new branding and clearly setting out the new business direction, in conjunction with other news items that are pending, on Monday, April 1, 2014 at 20:00 EDT. Until that time, the current website will be unavailable and will display our countdown to launch and a link to investor information at OTC markets.
Mr. Fabio Galdi, CEO of World Assurance Group, said, "Moving to fully reporting status with the SEC is a personal mission of mine as it shows our shareholders and the international investment community that we are serious in building a truly market leading company and that we believe in full transparency and creditability in how we operate WDAS. This should also provide for greater shareholder value going forward in line with the exciting business opportunities and profitable operations within WDAS. In addition, we have started the process of rebranding the business to better reflect the current and future direction and have a number of exciting developments that we want to share with everyone at the same time. Therefore, we will shortly suspend the current Company website to make way for a new era in the business that will be made clear by way of a webcast from the kickoff of the Wor(l)d Global Networks Event from the Dominican republic next Monday, April 1st, at 20:00 EDT. We very much look forward to sharing our new vision and direction for the business at that time."
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About World Assurance Group
World Assurance Group Inc. is a holding company that currently operates through two wholly owned subsidiaries: Cellad Inc., a digital media company based in Ireland operating in the global mobile advertising industry and World Global Group Inc. (WGG), an intellectual property licensing company based in Miami, Florida. Cellad's Adkash smartphone app is revolutionary new cloud advertising platform that allows advertisers and brands to deliver high definition, full screen adverts, coupons and click-through offers to subscribers via smartphone applications. When Adkash is installed on the user phone, every time they receive an inbound call or text message, Adkash will pay the subscriber a fee in the form of cash or other agreed medium. WGG develops, acquires innovative technologies that are disruptive to existing processes. Additional information may be found at www.worldassurancegroup.com.
This press release contains forward-looking statements. Words such as "expects", "intends'', "believes'', and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products and technologies, the ability to secure additional sources of finance, the ability to reduce operating expenses, and other factors described in the Company's filings with the OTC Markets Group. The actual results that the Company achieves may differ materially from any forward-looking statement due to such risks and uncertainties. The Company undertakes no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
SOURCE World Assurance Group Inc.
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