Global Entertainment Holdings Completes Share Exchange Merger with Mesa Garage Doors
Global Entertainment Holdings, Inc. (OTC: GBHL) announced the completion of a share exchange transaction with DCE Construction, Inc., known as Mesa Garage Doors. This strategic move follows Mesa's acquisition of a controlling interest in GBHL through Series C Convertible Preferred Stock. Both companies are undergoing audits expected to conclude soon, positioning GBHL to become a fully reporting company with the SEC. With 2022 revenues exceeding $21.5 million and minimal debt, Mesa aims to expand its services and market share, targeting Southern California and beyond. New leadership has been appointed as part of the transition, focusing on growth and future corporate actions.
- Completion of share exchange with DCE Construction, enhancing market position.
- 2022 revenues reported over $21.5 million, indicating strong financial performance.
- New leadership from Mesa aims for aggressive growth and expansion strategies.
- Existing officers and directors resigned, indicating potential instability during transition.
- Future audits and regulatory filings pose uncertainties for the business.
LOS ANGELES, Feb. 09, 2023 (GLOBE NEWSWIRE) -- Global Entertainment Holdings, Inc. (OTC: GBHL) (the "Company" or "Global"), an independent global entertainment content production and OTT streaming distribution company, today announced the completion of a share exchange transaction with DCE Construction, Inc., d/b/a Mesa Garage Doors (“Mesa”), a Southern California-based leader in home improvement solutions focused on selling, servicing and installing garage and entry doors as well as custom gates. This transaction follows an initial transaction which closed on January 9, 2023 where the founders of Mesa purchased a controlling interest in the Company through the acquisition of the substantial majority of Global’s Series C Convertible Preferred Stock.
The transaction was effected through a Share Exchange and Reorganization Agreement. Both Mesa and Global are currently undergoing a two year audit by PCOAB registered audit firms that is expected to be complete in the next two months. The completion of the audits will position the Company to become a fully reporting company with the Securities and Exchange Commission (“SEC”). The Company has minimal debt together with gross revenues of over
Mesa is led by Dwight Esnard and Michael Layman. Mr. Esnard started the company over 30 years ago and Mr. Layman joined the company more than 20 years ago. Concurrently with the closing of the transaction, Messrs. Esnard and Layman were appointed as the Chief Executive Officer and President of the Company and will serve on the Company’s Board of Directors along with a third, independent director. The existing officers and directors of Global resigned at the closing and they have been appointed to similar positions with the Company’s subsidiary, Global Universal Film Group Inc. The Company plans to divest and “spin-out” all of its entertainment operations and subsidiaries, and will be providing updates soon on the future of the entertainment division of the Company.
Dwight Esnard, the Chief Executive Officer of the Company and founder of Mesa commented, “Going public is the beginning of an exciting new chapter for Mesa to continue our trajectory for growth with an increased focus in Los Angeles, San Diego, Ventura, and Riverside Counties, as well as through expanding our product and service offerings to other areas of home and property improvement. We plan to roll out an aggressive growth strategy in the near future to expand our reach to new locations as well as acquiring strategically aligned companies to expand our market share. This transaction, which makes Mesa a publicly-traded company, is integral to achieving those strategic goals.”
The Company plans on filing various corporate actions with FINRA to ensure the Company’s name and ticker symbol are aligned with Mesa’s business in addition to satisfying the uplisting requirements for a major US stock exchange. The Company plans on filing a registration statement to become a reporting company with SEC upon the audits being completed.
About Mesa Garage Doors, Inc.
Founded over 30 years ago, Mesa Garage Doors, Inc, (www.mesagaragedoors.com) (“MESA”) is the clear Southern California leader in the otherwise highly fragmented business of sales, installation, and service for garage doors. Over these 30 years, Mesa has serviced well over a half million customers utilizing its own staff of installers, technicians, and repair employees. With a strong reputation and extensive customer base, Mesa has leveraged its financial strength, scalability, operations & service call center and professional management to arguably become the single largest garage door specialty company in the United States. While Mesa’s current corporate name certainly implies garage doors, the Company has expanded over the years to include other related installations and services for entry doors, custom wood gates, and garage door openers and is planning additional expansion over the coming months.
About Global Entertainment Holdings, Inc.
Global Entertainment Holdings, Inc, (the "Company," "Global," "we" or "our") an independent global entertainment content production and OTT streaming distribution company that connects with audiences through compelling motion picture content and social media websites. The Company operates through its subsidiaries, affiliates and/or joint venture partners engaged in various aspects of the media and entertainment businesses. The company, through its subsidiaries, plans to become a premier provider of Film & Entertainment by producing and streaming motion picture films, specialty DVD sets of classic films and TV series from its Hollywood Classic library (www.GlobalClassicMovies.com), and development of its unique streaming channels, Crimes & Capers (www.CrimesnCapers.com) and Final Chance Films (www.FinalChanceFilms.com). The company intends to retain a majority of the rights to projects developed. For more information, please visit www.Global-GBHL.com.
Risk Factors and Forward-Looking Statements
This release, as well as other information provided from time to time by the Company or its employees, may contain forward-looking statements that involve a number of risks and uncertainties that could cause actual results to differ materially from those anticipated in the forward-looking statements. Forward-looking statements, including but not limited to those regarding potential acquisitions and anticipated amendment to the Articles of Incorporation, provide the Company's current beliefs, expectations and intentions regarding future events and involve risks, uncertainties (some of which are beyond the Company's control) and assumptions. For those statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "plan," "potential," "should," "will" and "would" and similar expressions (including the negative of these terms). Although we believe that expectations reflected in the forward- looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. The Company intends these forward-looking statements to speak only at the time they are published on or as otherwise specified and does not undertake to update or revise these statements as more information becomes available, except as required under federal securities laws and the rules and regulations of the Securities Exchange Commission ("SEC"). Please refer to the disclosures and cautionary statements provided in the Company's Annual Report for the fiscal year ended December 31, 2021, the quarterly report for the three months ended September 30, 2022, as well as additional documents and reports filed with OTC Markets (each of which can be found at https://www.otcmarkets.com/stock/GBHL/disclosure).
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation, or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
Company Contact
Gary Rasmussen
877-807-8880
info@Global-GBHL.com
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