Sibling Group Holdings, Inc. (OTCQB: SIBE) (www.siblinggroup.com) (the "Company") updated stakeholders today on the status of the Blendedschools.net transaction.
"The Blendedschools.net transaction cleared all regulatory approvals in late March, with the signature of a judge on a court order which grants a petition for the sale of the assets to Sibling, as is required in all sale of assets from a not-for-profit entity, like Blendedschools.net," said Maurine Findley, Chief Financial Officer of Sibling. "Following the issuance of the order, we began gathering the necessary documents to complete the sale, and final accounting for the transaction. We believe we are within days of having a final document set together, and expect that a formal closing will occur within a week after the completion of the accounting." Sibling has been working closely with the staff and auditors for Blendedschools.net to insure accuracy, as well as its own auditors to make sure its post-closing financials properly represent the transaction.
Dave Saba, President of Sibling, offered this observation of the marketplace for Blendedschools.net product and services, "We actually began exploring the potential for a significantly expanded marketing and sales effort shortly after the beginning of the year, and as a result of that effort, we now have a sizable number of new opportunities, generally outside the traditional service area for Blendedschools.net, including the Southeast and Southwest regions of the US. Furthermore, we expect to sign a joint marketing initiatives shortly that could provide extensive sales coverage coast to coast."
With regard to further acquisition activity, Saba said, "We continue to see a high level of activity in the educational space, and are considering a number of situations, both in educational technology, and educational management. We expect to participate in both areas, through the delivery of services to schools, public and private, and direct to the students ourselves, both in the corporate education and K-12 levels."
About Sibling Group, Inc.:
Sibling Group Holdings, Inc. (OTCQB: SIBE) (www.siblinggroup.com) intends to acquire, on a global basis, advanced technology and education management operations in order to enhance and accelerate the delivery of 21st century learning. By accessing funding from the public capital markets and melding them into a unified strategy, Sibling seeks to accelerate the improvement of education across the globe. The results: better educated children and adults, a sustainable and cost effective instructional model and reduced dependence on governmental funding. Our current operations include professional development for the teaching profession and educational technology offerings including classroom management tools. The Company's executive offices are in Atlanta, Georgia.
Blended Schools Network will be an independent business unit of Sibling Group Holdings, Inc., and will continue to operate providing online curriculum with 192 master courses for the K-12 marketplace, all Common Core compatible; a complete hosted course authoring and learning management system (LMS) environment featuring both Blackboard and Canvas; the new Language Institute, with online courses in Arabic, Chinese, Spanish, French, Japanese, Latin, Russian, German and Hindi, all oriented to meet today's ESL requirements. The Blendedschools.net staff provides online, and on-site training for Blended Learning training methods, conversion planning, and implementation. For more information, go to www.blendedschools.net, or call Sheri Border, at 814-542-2501 x181, or by email at firstname.lastname@example.org.
This press release may contain forward-looking statements that involve a number of risks and uncertainties and are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Sibling Group Holdings, Inc. is subject to risks detailed from time to time in its publicly filed documents available at www.sec.gov. Sibling Group Holdings, Inc. does not undertake to update any forward-looking statements that it may make to conform to actual results. All current and potential shareholders are asked to read all filings for the Company at the Securities and Exchange Commission web site, www.SEC.gov.
Phone: (201) 355-6946
SOURCE: Sibling Group Holdings, Inc.