STL Marketing Group completes audit of acquisition
Monday, October 05, 2009
Press release from the issuing company
CHICAGO, IL - STL Marketing Group has completed the audit of its acquisition, St. Louis Packaging, Inc. and STL Graphics Group. The voluntary audit was completed by Veraja-Snelling and Company, headquartered in Illinois with over 20 years of audit and fraud prevention experience. The purpose of the audit was to verify the 2008 revenues and profits for St. Louis Packaging and STL Graphics Group prior to the acquisition that was completed on Feb 1, 2009.
The audit results showed $5,952,051 in revenues, $1,074,280 in total gross profit and $188,436 in Net Income for St. Louis Packaging and STL Graphics Group in 2008 prior to the acquisition, which took place on Feb 1, 2009. IMAGE Worldwide, Inc. had total revenues of $1,975,191 with a loss of $367,387 in 2008 prior to the acquisition.
During the last few months the company has been restructuring its divisions, operating model, and future business plans along with a new mission, vision, and budget for the company. Certain products, services, and expenses have been eliminated and others adjusted to become more competitive and to create the best synergy with the remaining divisions.
The new mission for STL Marketing Group is a commitment to brand movement through four distinct vehicles: creative and design services, packaging and supply solutions, printing and mailing, and event production and promotion. These core business units allow for supply chain synergy and a one-stop shop approach for clients to achieve their strategic communications objectives. Vertical integration and cross promotion between company sectors allows STL Marketing Group the ability to share key resources, maximize efficiencies, and utilize economies of scale. These components improve buying power for the corporation and increase value for clients and shareholders.
The new STL Marketing Group will utilize a blend of products, services, and relationships to create an extraordinary customer experience and foster unbounded company growth. The new and improved company will still produce the lifestyle and fashion magazine, IMAGE Chicago, but is no longer involved with Club Oasis or All Pro Networks.
CEO Steve St. Louis said, "We are very excited about completing this audit and our internal restructuring. We consolidated many of our expenses and are looking forward to executing our business plans. We are also actively seeking acquisitions of businesses that are synergistic with our business plan to help utilize the economies of scales and improve the bottom-line; we will explore all ways that can help us build our Company and maximize its shareholders' value for the future."