Cleveland, OH – February 8, 2012
SearchPath HCS, Inc. (Pink Sheets: SRCP), announced today a major restructuring of the company and that our active offices, year over year, have seen a 30% increase in revenue.
Founded in 2005, the company has evolved and adapted its service offering to reflect the changing market conditions. “The difficult financial markets that we have experienced over the last several years forced us to reevaluate and restructure our franchising operations,” stated, Thomas Johnston, President and CEO of SearchPath HCS. “Due to the strengthening market, as reflected by the substantial increase (30%) in revenue in our active offices, and because of increased demand for a low cost, highly profitable, professional services franchise offering focused on helping top companies identify and recruit top talent, we felt that we needed a complete overhaul of our original platform. We have a significant number of our SearchPath International franchises that have failed to meet our stringent performance and compliance criteria. Over the next couple of quarters, we will be working closely with each of our underperforming units to either improve performance or, if they do not become compliant, to terminate their franchise agreements.”
Johnston continued, “In an effort to best prepare our organization for continued growth and to build a platform to capture market share and leverage the increasing demand for top performing talent, we will build on the SearchPath brand and leverage our reputation of being one of the most aggressive and successful headhunting organizations in the industry.”
About Search Path HCS, Inc.
SearchPath HCS, Inc. is a diversified human capital solutions firm and the parent company of SearchPath International, Inc. www.searchpath.com.
SearchPath is a one of the premier, vertically-integrated providers of Headhunting Services in the world. SearchPath International has redefined the way clients do business with Headhunters by implementing a client-centric approach that combines proven industry best practices and revolutionary concepts.
Safe Harbor Statement
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of1934. All statements, other than statements of historical fact, including, without limitation, those with respect to the objectives, plans and strategies of the Company and SPI set forth herein and those preceded by or that include the words “believes,” “expects,” “given,” “targets,” “intends,” “anticipates,” “plans,” “projects,” “forecasts” or similar expressions, are “forward-looking statements”. Although the Company’s management believes that such forward-looking statements are reasonable, it cannot guarantee that such expectations are, or will be, correct. These forward-looking statements involve a number of risks and uncertainties, which could cause the Company’s future results to differ materially from those anticipated. The Company assumes no obligation to update any of the information contained or referenced in this press release.
Source: SearchPath HCS, Inc.