TEAM Nation Announces Establishment of TSS Escrow, Inc. Projections Indicate TSSE Will Contribute $1.2M to 3M in Additional Reve
22 3월 2011 - 10:00PM
Marketwired
TEAM Nation Holdings Corporation ("TEAM") (OTCBB: TEMN)
(PINKSHEETS: TEMN) is pleased to announce that on February 9, 2011
they filed Articles of Incorporation with the Secretary of State of
California to establish TSS Escrow, Inc. ("TSSE"). TSSE will
operate as a wholly owned subsidiary of TEAM Settlement Solutions
("TSS") and will become licensed by the Department of Corporations
as an escrow agent in the state of California. TSSE will provide
settlement solutions for California real estate transactions,
including resident resale, refinance, REO, short-sale, bulk sale
and commercial transactions. California represents approximately
15% of the $350,000,000 national Settlement Services market. The
company projects that TSSE will contribute $1.2M to 3M in
additional revenue within 24 months of its licensure. TSSE expects
to file its license application by April 15, 2011 and anticipates
approval within 120 days of the application.
Dennis R. Duffy, Cofounder and Board member of TEAM, stated,
"California is a critical piece of our long term strategy to
provide title and settlement solutions nationwide. We expect to
obtain and pass along significant revenues to our newest division,
TSS Escrow, as soon as it is granted license to operate in
California."
About TEAM Nation Holdings Corporation
TEAM Nation Holdings Corporation, a Nevada corporation ("TEAM"), is
a management and services company specializing in title insurance
and escrow services through our affiliate title agency(ies). TEAM
Nations Holdings Corporation also services the provision of
management, production services, HR administration, IT support, and
accounting administration for title insurance companies and related
real estate ventures. For more information please visit:
http://www.teamnationholdings.com/
TEAM Nation Holdings, a Nevada Corporation ("TEAM"), is also a
holding Corporation for TEAM Settlement Solutions, (fka TEAM Nation
Holding Corporation, a California corporation) ("TSS") along with
TSS Escrow, Inc., a California Corporation. TEAM Nation Holdings
Corporation also includes Mortgage Nation, Inc., a California
Corporation, and TEAM Title, Inc., a national settlement services
agency as part of their company.
This news release contains forward-looking
statements. The company undertakes no obligation to publicly update
or revise any forward-looking statements, whether because of new
information, future events or otherwise. Forward-looking statements
are inherently subject to risks and uncertainties, some of which
cannot be predicted, or quantified. Future events and actual
results could differ materially from those set forth in,
contemplated by, or underlying the forward-looking statements. The
risks and uncertainties to which forward-looking statements are
subject include, but are not limited to, the effect of government
regulation, competition and other material risks described in the
company's filings with the SEC.
For more information contact Violet Shockley 713-444-0924
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