Mango Capital, Inc. Announces Litigation Settlement, Substantial Real Estate Acquisition, New Manage
FAR HILLS, N.J., Feb. 22, 2016 /PRNewswire/ — Mango Capital, Inc. (OTC: MCAP) today announces the completion of the acquisition of more than 400 real estate properties in Colorado, Arizona, Texas and New Mexico. Mango is now a real estate holding company specializing in acquiring undervalued American land in promising markets.
As a result of the transactions, all litigation against Mango has been completely settled. The company now has an asset rich balance sheet with no senior securities or preferred stock.
Mango is also pleased to announce a new management team. Heading up the company is Rick J. Makoujy, Jr., Wall Street expert and author of Accounting In An Hour as well as McGraw Hill’s How to Read a Balance Sheet. Makoujy has spent the last several years growing Land Ho, Inc. into America’s Premier Land Wholesaler (www.LandHo.TV). He has agreed to run the company for zero salary, instead receiving a share of any dividends that will be paid pro rata to every shareholder.
The advisory board includes representation from Englander Capital Corporation (“Englander”), run by hedge fund billionaire, Israel “Izzy” Englander. Englander has taken a 7.5% stake in Mango Capital, Inc.
According to Makoujy, “we have assembled a terrific and motivated team and are thrilled at the opportunity to efficiently grow Mango into a major domestic land owner. This will be a great way for investors to diversify their portfolios with land in the United States without the hassles and expense of evaluating properties and paying taxes. Mango plans to acquire promising real property efficiently utilizing company shares as currency and intends to opportunistically sell properties for cash and/or notes. The company will have broad discretion but a single ultimate purpose: Maximizing Shareholder Value.” Mango Capital expects to start paying dividends in 2016.
For additional information, contact Jacqueline Palumbo, Communications Director, Mango Capital, Inc., at (845) 270-5792 or info@LandHo.TV.
This release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. The matters discussed in this news release involve goals, forecasts, assumptions, risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements.
SOURCE Mango Capital, Inc.