JACKSONVILLE, FL -- (Marketwired) -- 07/14/14 -- California Gold Corp. (PINKSHEETS: CLGL) DBA MV Portfolios, Inc. ("MVP"), a Jacksonville based intellectual property (IP) development and licensing company, today announced its strategy to partner with U.S. and international universities, and certain inventors, in funding development and commercialization of carefully selected patent portfolios. At the same time, MVP will offer its partners licenses on selected patents that the Company owns.
MVP is now evaluating university IP that relates to smartphone, smart object, field device and location based technologies for global commercialization and development. The Company is leveraging its expertise in information systems to package, bundle and enhance the innovation and facilitate its entry into the market.
William Meadow, Founder and CEO of MVP stated, "Professors and their grad students are creating thousands of innovations across the globe -- where people live, work and play. We will apply a foundation of field innovation methods, practices and technologies to enable selected inventions to be productized and deployed via large distribution channel(s). We look forward to updating our shareholders as we implement our strategic initiatives."
About California Gold Corp.:
On February 7, 2014, California Gold Corp. completed a securities exchange pursuant to which the members of MVP Portfolio, LLC, a Florida limited liability company n/k/a Visual Real Estate, Inc. a Florida corporation ("MVP"), exchanged 100% of the membership interests in MVP for 9,385,000 to-be-issued, post-1 for 100 reverse split shares of common stock, $0.001 par value per share, of the Company. As a result of the securities exchange, the Company will continue the existing business operations of MVP. With the acquisition of MVP, the Company will be expanding its business focus on patent licensing and commercialization.
Safe Harbor Statement:
This press release contains certain forward-looking statements that are based upon current expectations and involve certain risks and uncertainties within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Words or expressions such as "anticipate," "plan," "will," "intend," "believe" or "expect'" or variations of such words and similar expressions are intended to identify such forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements, including, without limitation, statements made with respect to expectations with respect to our lack of profitable operating history, changes in our business, potential need for additional capital, fluctuations in demand; changes to economic growth in the U.S. economy; and government policies and regulations, including, but not limited to those affecting the Internet and our patents, all as set forth in our Annual Report on Form 10-K and most recent Form 10-Q. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, many of which are generally outside the control of California Gold Corp. and are difficult to predict. California Gold Corp. undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.
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Source: California Gold Corp. DBA MV Portfolios, Inc.