Sibling Entertainment Group Holdings, Inc. announced earlier this month that their intention is to change the name of the public company to Sibling Group Holdings, Inc. This indicates a completed transition from the Company’s previous business in the entertainment area. They will now focus, as previously disclosed, on educational technologies and management. Sibling has their corporate headquarters in Duluth, Georgia.
For the nine months ended September 30, 2011, Sibling’s operations included satisfying continuous public disclosure requirements and the continued focus on the development and deployment of software, systems, and procedures to enhance the rate of learning in both primary and secondary education. NEWCO is a wholly owned subsidiary of Sibling – acquired in a December 2010 transaction.
NEWCO has a well-defined plan to enter the education industry with a combination of educational management operations (EMO) and a set of technology-based offerings targeted at improving education. NEWCO has been established to take advantage of the growing popularity and exemplary results that charter schools across America have created. NEWCO’s intention is to grow (mainly through acquisition) a large-scale business involving the formation of an education management organization (EMO), who will operate charter schools. A charter school is funded by the Board of Education just like public schools, typically on a per student basis, plus some additional support from federal programs.
NEWCO’s intention is also to grow a second division focused on the technology and services. This includes the procedures, related computer based education (CBE) and intellectual properties, required to operate charter schools and other schools, more effectively, and with productive educational results.
Earlier in November, Sibling announced that they completed their audits for FY2009 and FY2010, and that the Company’s Form 10k for each period has undergone filing on the SEC Edgar web site (www.sec.gov), as well as the interim reports on Form 10Q through September 30, 2011. The Company believes they are now fully reporting and compliant with their responsibilities as a reporting company.
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