DALLAS, Jan. 17, 2012 /PRNewswire/ -- BUYER GROUP
INTERNATIONAL INC. (BYRG.PK) – citing a third party formal legal
opinion submitted application to DTCC requesting that BYRG.PK
shares be noted as eligible for deposit into DRS, ACAT, or other
book entry system fulfillment. Buyer Group International Inc.
expects approval to better facilitate liquidity and transparency in
share exchanges and transfers by increasing the speed by which
exchanges and transfers take place and lowering the overall cost of
facilitating share transfers for shareholders and Buyer Group
alike.
In addition to the DTCC application, Buyer Group International
Inc. has submitted an application to the Texas Film Commission for
the Texas Moving Image Industry Incentive Program. The incentives,
when calculated on in-state labor spending should generate an
estimated $2 million in revenue from
State of Texas guaranteed credits
on in-state spending approximating $7
million, upon acceptance. Credits are regulated and
administered by the Office of the Governor of the State of Texas and allocated by the Film
Commission, and as such carry an 'AA+' credit rating by
S&P. Final adjustments to the itemized Texas spending budget are being made and will
be submitted by week's end. Once, this final item is cleared
by the State the application is expected to be approved
quickly.
David Bryant, Buyer Group
International CEO, states "Texas
has long been a great place to do business. With the Film
Commission's anticipated approval of these credits, we expect to
add $2 million to the production
value of the feature film upon establishing principal
filming. The incentivized revenues are crucial to retaining
productions and jobs for the state and every state should look at
every way possible to create jobs for its citizens. We are happy to
be a part of this process."
Buyer Group International, Inc. (BYRG.PK) in connection with its
capital fund partners will expect to grow its operating holdings in
the entertainment industry to a total of $100 million within 5 years. By managing
high net worth assets Buyer Group International Inc. continues to
grow its capital base while generating capital returns to investors
exceeding traditional funds.
Information may be found at www.buyergroupint.com as it is
released to the public.
Company Contact:
David Bryant
214-810-1317
info@buyergroupint.com
News for BYRG is located at
http://www.buyergroupint.com/news.html
Safe Harbor Statement - This release includes forward-looking
statements within the meaning of Section 27A & 27E of the
Securities Act of 1933, 1934. Statements herein that are not
historical facts are deemed forward-looking statements based upon
management's current expectations. Investors are cautioned that
forward-looking statements are inherently uncertain and subject to
risks and uncertainties that could cause actual results to differ
materially from those set forth and management undertakes no
obligation to update or revise such statements. Actual performance
results may differ materially from those suggested herein due to
uncertainties including, without limitation, ability to obtain
financing, regulatory and shareholder approval, and the ability to
attract or retain key management personnel.
SOURCE Buyer Group International Inc.