SAN DIEGO, Sept. 24, 2013 /PRNewswire via COMTEX/ — Earth Dragon Resources, Inc. (OTC: EARH) today announced that it has completed the acquisition of X-Fire, Inc., a privately-held company in the telecommunications industry. This company is licensed to establish and operate communication infrastructure services, digital microwave and fiber optical long-distance transmission networks, broadband wireless last-mile access networks, switched and non-switched data communication services, Internet and related services and satellite earth station for international data communications and global internet access. Year to date gross revenues were approximately $1,100,000 and operating cash flow positive YTD. This acquisition was made by exchanging 12,000,000 shares of EARH common stock. X-Fire, Inc. is now a wholly-owned subsidiary.
Mike Johnson, CEO of Earth Dragon Resources, Inc., states, “We are very excited to complete this acquisition. We will work with X-Fire, Inc.’s skilled management team to support the growing business. The telecom space brings great opportunities in a very fast growing industry. We are also moving forward with our marine salvage division and will provide shareholder updates in the near future.”
Earth Dragon Resources, Inc. further announces that is has hired a controller. She will be working to consolidate operations from X-Fire’s domestic offices in Michigan and Florida, as well as international co-locations in Antigua and Jamaica. She will also be assisting management to consolidate revenues, expenses and cash flow, as the Company anticipates increased revenues in 2014.
About Earth Dragon Resources, Inc: Earth Dragon Resources, Inc. identifies opportunities globally in the recovery of precious metals on both land and sea. Earth Dragon Resources, Inc. primary focus is to identify, perform due diligence, structure and fund opportunities that have potential to enhance shareholder value. Earth Dragon Resources, Inc. wholly owned subsidiary, Project X, Inc., is the marine salvage division. Project X, Inc. maintains a $5,000,000 upside from our previous JV and is in the planning stage of 4 WW2 wrecks (CARRIBEAN 4 Project) that research shows contain gold and other precious metals.
Forward-looking Statements: Statements about our future expectations are “forward-looking statements”, which are not guarantees of future performance. When used herein, the words “may,” “will,” “should,” “anticipate,” “believe,” “appear,” “intend,” “plan,” “expect,” “estimate,” “approximate,” “potential” and similar expressions are intended to identify such forward-looking statements. These statements involve risks and uncertainties inherent in our business, including those set forth in our filings with the Securities and Exchange Commission (SEC), and are subject to change at any time. Our actual results could differ materially from these forward-looking statements. We undertake no obligation to update publicly any forward-looking statement.
CONTACT: J. Michael Johnson
President and CEO Office: 619-321-6882 Direct: 808-269-5549 Email: email@example.com Corporate Address: Earth Dragon Resources, Inc. 402 West Broadway Suite 400 San Diego, CA 92101
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