October 31, 2020

NBA legend John Salley joins INSCOR team


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John SalleyFrom Wall Street PR

The athlete, actor, TV personality and humanitarian to create inroads to affluent community

John Salley was the first player in NBA history to play on three different championship-winning franchises, while winning a total of four championship rings in 15 years as a pro.  His college alma mater, Georgia Tech, retired his number 22 jersey, an extremely rare honor in college basketball.  Salley has also established himself in Hollywood with rolls in Bad Boys 1 & 2 and grew a cult-like following as the host of the wildly popular Fox Sports Net show “The Best Damn Sports Show Period.”  Safe to say, John Salley knows a winning team when he sees it.

The team that Salley has now joined is INSCOR, Inc. (IOGA), a firm specializing in providing flexible and effective insurance solutions for organizations serving people worldwide.  In the U.S., INSCOR markets its FIT OPEB (acronyms for Financed Insurance Trust and Other Post-Employment Benefits) plan to municipalities and corporations as a low-cost solution to funding retiree and other employee benefits. A FIT plan variation works to preserve wealth for affluent individuals, entertainers and professional athletes, falling right into Salley’s wheelhouse, whether for estate planning or funding cash flow needs.  In many cases, the plans are tailored with little or no out-of-pocket costs, making them particularly appealing.

Salley will serves as President of INSCOR’s sports division, where he will present the company’s FIT plans to professional athletes and other high net worth individuals, while promoting the INSCOR brand and products.  Salley’s established connections and word-of-mouth alone should be a significant driver of long-term growth for INSCOR.

The target population is large and in great need of awareness for strategies to efficiently manage wealth.  Exemplifying the dire need, Sports Illustrated reported that 80 percent of NFL players flirt with bankruptcy within two years of retirement and 60 percent of all NBA players go broke within five years of leaving the game.  Salley has a strong reputation as an active advocate for education on several fronts (involved in PETA and diabetes programs, amongst other things), so this new position dovetails nicely to try and make an impact on the high bankruptcy rates while generating substantial revenue for INSCOR.

From a broader corporate perspective, INSCOR’s recent contract with Ghana’s National Mass Social Welfare Scheme is expected to eventually generate in excess of $200 million in revenue, forming a strong cornerstone of growth for the government arm of the business. Registration within the various municipalities selected to have their residents participate in the Mass Social Welfare Scheme program have already began and five of the major areas have been completed. The sports division now has a sturdy building block, firmly positioning INSCOR for meaningful revenue in the fourth quarter and going forward.

Since hitting 76 cents in August, shares of IOGA have been effectively channeling between 45 and 51 cents since, but this latest development could be the catalyst that starts to drive shares back towards those highs once the first Salley-related deal is inked.

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