Wyncrest Group, Inc. Expands Board of Directors
February 21 2011 - 5:12PM
Marketwired
Wyncrest Group, Inc. (PINKSHEETS: WNCG), a growing financial
services organization, is expanding its Board of Directors. New
Board members include Messrs. Stephen Vlahos and Kevin Jasper.
Stephen Vlahos has over thirty (30) years' experience in the
securities business and has held NASD series licenses 7, 8, 24, 53
and 65 licenses. He is currently President of Performance Plus
Advisors, Inc., a distressed debt money management and research
firm.
Kevin Jasper has spent most of his career in the private sector
as CEO and Director for small corporations in the Commercial
Recording, Real Estate and International Entertainment Distribution
industries. Mr. Jasper is currently President of a Manhattan, NY
real estate and property management company and also a partner in
Groove Capital Entertainment Group, LLC.
The past few months Wyncrest Group, Inc. has encountered
shifting governmental and regulatory challenges requiring their
full attention to ensure the proper people and procedures were in
place. During this time, the executive management reevaluated the
strategic direction of the company while waiting for the right
economic, political and business climate to fully launch its
aggressive going forward plans. These measures were felt to be
necessary to ensure the company is setting out on the absolute best
path for the long-term benefit of all its stakeholders, which
includes clients, employees and shareholders. Wyncrest Group,
Inc.'s plans are to now actively and diligently pursue the charted
course with the complete commitment of the new Board of Directors
and the Executive Team.
Mr. William McFarland, Chairman of the Board of Wyncrest Group,
Inc., commented: "First and foremost I appreciate the patience and
continued support of our shareholders. While we felt good about our
direction this past year, it became apparent to us that we must be
selective on initiating our comprehensive plan as to compliance,
timing and strategy. We take our responsibility to our clients,
employees, and shareholders very seriously and the hard work we
have put in the past few months will pay off for everyone as we now
fully launch into 2011."
About Wyncrest Group, Inc. (PINKSHEETS:
WNCG)
Wyncrest Group, Inc. is a growing financial services
organization. Wholly owned subsidiary Southwest Financial Group has
been delivering insurance products and financial services since
1994, serving more than 22,000 clients throughout the United
States. By developing the growth potential from within its existing
businesses and acquiring companies with market share in lucrative
financial segments, Wyncrest Group, Inc. is committed to increasing
value for shareholders.
Forward-Looking Statements -- Safe Harbor
This release contains statements that constitute forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. These statements appear in a number of places
in this release and include all statements that are not statements
of historical fact regarding the intent, belief or current
expectations of Wyncrest Group, Inc., its directors or its officers
with respect to, among other things: (i) financing plans; (ii)
trends affecting its financial condition or results of operations;
(iii) growth strategy and operating strategy. The words "may,"
"would," "will," "expect," "estimate," "can," "believe,"
"potential" and similar expressions and variations thereof are
intended to identify forward-looking statements. Investors are
cautioned that any such forward-looking statements are not
guarantees of future performance and involve risks and
uncertainties, many of which are beyond Wyncrest Group, Inc.'s
ability to control, and actual results may differ materially from
those projected in the forward-looking statements as a result of
various factors.
Contact: Wyncrest Group, Inc. 9654 West 131st Street,
Suite 215 Palos Park, IL 60464 USA Investor Relations
investor@wyncrestinc.com
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