RELM Holdings Inc. Executes Investment Banking Agreement

WILMINGTON, DE--(Marketwire - 11/11/09) - RELM Holdings Inc. (Pinksheets:RELM - News) executed an agreement with a west coast investment banking firm to assist the company with placement of Senior and Mezzanine Debt to fund its previously announced strategic acquisitions. In addition to funding activities, the firm will advise management on strategic funding decisions and financial structuring of each planned acquisition. "We are pleased with the experience, talent and contacts that this firm brings. This relationship will open many doors to us and provide us with opportunities beyond the funding that we are seeking. We are excited to have finalized the first Letter of Intent this past week and will continue to pursue all other opportunities that we have identified. We are seeking the funding necessary to acquire our entire target list, should we successfully negotiate definitive Purchase Agreements with the various organizations," said RELM's President, Randall Burton.According to Marc Greenberg, RELM's EVP, "Specifically, we are targeting the acquisition of a diverse group of technology related service companies that share a common vertical reach or that will allow us to benefit from multiple inherent operational synergies. Our target group includes traditional IT services, information security, electronic document management, software services, and business process firms. We are particularly excited by the opportunity to cross-sell a comprehensive solution to a premier client base."Management plans to consolidate ...
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RELM Holdings Inc. Posts its Nine Month Financial Statements

WILMINGTON, DE, Oct. 21 /PRNewswire-FirstCall/ - RELM HOLDINGS INC. (RELM: OTC.PK), posted its Nine Month Financial Statements ending September 30, 2009, on two websites: www.relmholdingsinc.com and www.pinksheets.com. RELM has consolidated Access Versalign Inc. (AVI) and RELM Real Estate Holdings Inc. and management has made consolidation adjustments as RELM financials reflect the acquisition of a majority interest in AVI.The Nine Month, September 30, 2009 results were primarily driven by government and private sector contracts for services and product sales in the information technology area that produced total revenue of $1.55 million through September 30, 2009. These transactions allowed the company to finish the nine months with an adjusted EBITDA of $176,816, and a pretax income of ($7,024).About RELMRELM was incorporated to acquire operating businesses and is now a holding company with a primary focus on financial and information technology services along with real estate. The Company bases its business model on the acquisition of synergistic businesses with the capability to support and compliment its financial and technology products. RELM intends to lead a vertically integrated family of companies that will provide full solutions for its affiliates and clients, such as underwriting, servicing, raising capital, and commercialization, while securitizing and guaranteeing its products in the marketplace. Since 1994...
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RELM Holdings Inc. Has Purchased 76% of Access Versalign Inc.

WILMINGTON, DE--(Marketwire - 10/05/09) - RELM HOLDINGS INC. (Pinksheets:RELM - News) announces the restructuring of the purchase of Access Versalign Inc. (AVI) and rescinds the planned merger that was announced on May 5, 2009. Previously, both AVI and RELM agreed to merge through a share exchange; however, it was later determined that the acquisition of a 76% majority interest in AVI would better suit the relationship and planned future acquisitions. AVI shareholders will receive 14.02 shares of RELM in this transaction as was previously announced. AVI is a consolidated subsidiary of RELM and the senior management team of AVI will also continue to oversee the day to day operations of RELM.As announced earlier, this acquisition will give RELM access to cash flows and expanded business opportunities in the information technology industry. In 2008, on a pro-forma basis, AVI had over $9 million in assets as a consolidated company and generated $2.5 million in revenue with $319,680 in EBITDA. Through the second quarter of 2009 AVI's wholly-owned subsidiary, Versalign Inc., produced total revenue of $1.1 million with an EBITDA of $142,680 and pretax income of $24,245. RELM valued 100% of AVI at $3,196,800 at the end of 2008.AVI was organized in 2008 and acquired 100% of Versalign on February 20, 2009. Versalign was founded in 1985 and currently provides targeted information technology solutions for corporate, professional and governmental clients in the Mid-Atlantic region. The proprietary BCLOC financing product of $6 mi...
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RELM Holdings Gets Bank Approval to Complete Acquisition of Access Versalign in Share Exchange

WILMINGTON, DE--(Marketwire - 07/08/09) - RELM Holdings Inc. (Pinksheets:RELM - News) announces the completion of the acquisition of Access Versalign Inc. (AVI) in a share exchange. AVI completed the acquisition of Versalign Inc. on February 20, 2009, and involved the restructuring of Versalign's current Bank debt using Protective Capital Structures Corp's proprietary BCLOC product as collateral. Once the collateral is liquidated, the BCLOC will be fully funded and expected to pay off the AVI / Versalign bank debt, reduce the AVI borrowing costs, and provide more liquidity for AVI.The controlling shareholders of RELM and AVI have exchanged their shares, giving RELM the majority interest in AVI. In compliance with the acquisition agreement, the balance of the AVI minority shareholders are expected to receive their RELM shares after August 20, 2009, but before the end of the third quarter ending September 30, 2009. Each AVI shareholder will receive 14.02 shares of RELM for each share of AVI.This acquisition by RELM marks the second of several acquisitions that are expected to be completed in 2009. Other acquisitions are planned as RELM continues to streamline its operating structure to provide improved visibility into its operational and financial performance.About AVIAVI was organized in 2008 and in 2009 acquired Versalign Inc., which was founded in 1985 and currently provides targeted Information Technology solutions for corporate, professional and governmental clients in the Mid-Atlantic region. AVI p...
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