Sunset Brands, Inc., (SSBN), a Nevada corporation, trading on the Over the Counter (OTC) markets “pink sheets” as SSBN, announced today that it has completed the acquisition of HAF Investment Holdings, LLC, a Delaware limited liability company, originally announced on January 18, 2012.
Sunset is pleased to report that the portfolio of assets owned by the company and its subsidiaries have been recently appraised over $2 billion replacement value during the first quarter--a significant increase over the past three months. The company is currently working with its team of auditors and appraisers to determine the fair market value and the impact to the balance sheet that will be reflected in the company’s March 31, 2012 filings.
CEO Alan L. Speck stated, “We are very pleased with the successful completion of the acquisition of HAF and its impressive asset growth in Q1. This is a major milestone in our business plan and leveraging these assets will allow us to secure additional capital to continue to move forward with other acquisitions.”
The company also announced that it had filed for dba as Sunset Capital Assets. Company President Jeff Betros stated, “This is to highlight the continuing evolution of our business and our focus on acquisition and investment. SCA or Sunset Capital Assets is a name that accurately identifies our core business as a diverse financial services holding company. The new name is a clear sign to investors of the company’s direction and will be the foundation of our new corporate identity.”
CEO Speck also stated ”In addition to the HAF acquisition, we finalized the merger of US Financial Assets, Inc. and additional announcements will be forthcoming as the execution of our company’s business plan progresses. We believe these are important steps forward while we continue to grow our diverse and profitable businesses as we strive to enhance value for our shareholders.”
Sunset Brands, Inc. dba Sunset Capital Assets is a diversified financial services firm focusing on acquisition and investment in federally insured banks, mortgage companies, real estate, title insurance, insurance, and management and consulting service primarily in the Southeast United States.
Sunset Brands, Inc. is headquartered in Jacksonville, Florida.
This press release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. Our forward-looking statements express our current expectations or forecasts of possible future results or events, including projections of future performance, statements of management's plans and objectives, future contracts, and forecasts of trends and other matters. Forward-looking statements speak only as of the date of this filing, and we undertake no obligation to update or revise such statements to reflect new circumstances or unanticipated events as they occur. You can identify these statements by the fact that they do not relate strictly to historic or current facts and often use words such as "anticipate", "estimate", "expect", "believe," "will likely result," "outlook," "project" and other words and expressions of similar meaning. No assurance can be given that the results in any forward-looking statements will be achieved and actual results could be affected by one or more factors, which could cause them to differ materially. For these statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act.
Sunset Brands, Inc
Jeffrey S. Betros, 904-436-6217