NEW YORK, NY / ACCESSWIRE / June 1, 2020 / GoIP Global Inc (OTC PINK:GOIG) announced today, the signing of a letter of intent to acquire a transportation company that operates FedEx home and ground routes in the NYC area. The acquisition is subject to approval by FedEx, an overlap of an additional acquisition, which the Company expect to sign in the near term, and customary due diligence. The purchase will be paid in cash and will not be dilutive to shareholders. The Company expects the acquisition to be immediately accretive.
The acquisition is part of GoIP's (to be renamed TransWorld) strategy to build a transportation division that will be profitable, provide strong and consistent cash-flow. The Company sees FedEx routes as opportunistic in today's changing "immediate" e-commerce economy. It is the Company's intention to acquire additional FedEx routes as it builds its transportation unit.
TransWorld's mission is to operate as a profitable holding company operating in a number of business segments, initially including transportation, simple technology services, consumer goods and active investments. TransWorld primary focus is to bring value to its shareholders.
As previously announced, GoIP/TransWorld closed on an institutional funding. GoIP/TransWorld expects to update its financial filings and become a fully reporting company in short order. The TransWorld website can be found at www.transworldenterprises.com.
About FedEx Routes
Many FedEx delivery routes are not actually owned by FedEx, but rather by small independent businesses. These businesses maintain a contract with FedEx which outlines the services to be provided by the contractor, standards required by FedEx, and the area the contractor is assigned (the zip code/route). FedEx pays these contractors on a weekly basis. These routes are divided between Line Haul, Ground and Home delivery services.
About GoIP Global/ TransWorld Holdings Inc.
TransWorld will focus on acquiring controlling interests in profitable basic businesses. Initially, TransWorld will focus on acquiring transportation companies, simple technology service businesses and or consumer products businesses as well as making active investments. GoIP is in the process of changing its name to TransWorld Holdings Inc. www.transworldenterprises.com and will apply for a new symbol.
Safe Harbor Statement Information in this news release may contain statements about future expectations, plans, prospects or performance of GoIP Global, Inc. that constitute forward-looking statements for purposes of the safe harbor Provisions under the Private Securities Litigation Reform Act of 1995. The words or phrases "can be," "expects," "may affect," "believed," "estimate," "project," and similar words and phrases are intended to identify such forward-looking statements. GoIP Global, Inc. cautions you that any forward-looking information provided by or on behalf of GoIP Global, Inc. is not a guarantee of future performance. None of the information in this press release constitutes or is intended as an offer to sell securities or investment advice of any kind. GoIP Global, Inc.'s actual results may differ materially from those anticipated in such forward-looking statements as a result of various important factors, some of which are beyond GoIP Global, Inc.'s control. In addition to those discussed in GoIP Global, Inc.'s press releases, public filings, and statements by GoIP Global, Inc.'s management, including, but not limited to, GoIP Global, Inc.'s estimate of the sufficiency of its existing capital resources, GoIP Global, Inc.'s ability to raise additional capital to fund future operations, GoIP Global, Inc.'s ability to repay its existing indebtedness, the uncertainties involved in estimating market opportunities and, in identifying contracts which match GoIP Global, Inc.'s capability to be awarded contracts. All such forward-looking statements are current only as of the date on which such statements were made. GoIP Global, Inc. does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.
GoIP Global Incko@transworldenterprises.com1-917-268-0660
SOURCE: GoIP Global Inc
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