ENGLEWOOD, N.J., Sept. 3, 2015 (GLOBE NEWSWIRE) -- Point Capital Inc. (OTCQB:PTCI),
"We produced a net increase in net assets resulting from operations for the second consecutive quarter after growing 25.6% in 2014. The companies in our portfolio have great opportunities and we've attempted to buy right," said Richard Brand, CEO.
In Q2 we made four new investments. These are as follows:
ID Global Solution Corp. (IDGS) On June 25, 2015, we completed an investment in ID Global Solutions Corp., an OTC BB listed company, that is an international biometrics and payment processing company with a unique technology platform that provides valuable, secure payment processing for consumers as well as for merchants.
Provectus BioPharmaceuticals Inc. (PVCT) On June 22, 2015, we completed an investment in Provectus BioPharmaceuticals Inc., an NYSE listed company, that is a development-stage biopharmaceutical company primarily engaged in developing ethical pharmaceuticals for oncology and dermatology indications. The company's goal is to develop alternative treatments that are safer, more effective, less invasive and more economical than conventional therapies.
Pershing Gold Corp. (PGLC) On April 10, 2015, we completed an investment in Pershing Gold Corp., a Nasdaq listed company, which operates as a gold exploration company. The company seeks out and develops significant gold exploration and development properties in the state of Nevada.
MabVax Therapeutics Holdings Inc. (MBVX) On April 6, 2015, we completed an investment in MabVax Therapeutics Holdings Inc., an OTC BB listed company, that is a biopharmaceutical company that discovers, develops, and commercializes small molecule drugs to treat serious diseases. The company's most advanced product development programs are for the treatment of cancer and diabetes.
As of June 30, 2015, we held eighteen portfolio companies all of which are non-controlled and non-affiliated.
Investment activities subsequent to the end of Q2 are the following.
On July 6, 2015, the Company invested in Multimedia Platforms, Inc. (MMPW) a multimedia technology and publishing company that integrates print media with social media and related online platforms.
On August 7, 2015, the Company invested in Home Bistro, Inc. (private company) 15% senior secured Convertible Debentures. The company provides delivered prepared meals across the U.S. Perfect meals at your door ready to serve.
About Point Capital Inc.
Point Capital Inc. is an internally-managed business development company whose investment objective is to generate current income and long-term capital appreciation from debt and equity investments.
For more information, please see the Company's website at www.pointcapitalinc.com.
Safe Harbor Statement: A number of statements contained in this press release are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Act of 1995. These forward-looking statements involve a number of risks and uncertainties, including without limitation, our ability to locate suitable candidates to invest, competitive market conditions, and the ability to secure sufficient sources of financing. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Point Capital encourages the public to read the information provided here in conjunction with its most recent filings on Form 10-K and Form 10-Q. Point Capital's public filings may be viewed at www.sec.gov or at our website PointCapitalInc.com.
CONTACT: Rich Brand, CEO (201) 408-5126Source:Point Capital Inc.