August 3, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — VHGI Holdings, Inc. (OTCBB: VHGI) said that it has sold the assets of its medical practice management subsidiary, Medical Office Software, Inc., to a private company for a purchase price of between $1.2 million and $1.3 million, and a warrant to purchase 1% of the common stock in the new company.

Of the purchase price, $400,000 has been paid in cash, with the remaining being payable prior to September 30, pursuant to a promissory note.

Jim Renfro, president of VHGI Holdings, said, "The sale of these assets will allow the company to focus 100% on its main two divisions, VHGI Gold and VHGI Energy."

He said that the balance of the company's remaining healthcare assets, which basically consist of stock ownership, royalties and receivables, will give the company additional future cash flow.

Kentucky-based VHGI has assets and interests focusing on opportunities within the precious metals and energy markets as well as some healthcare-related assets.

VHGI Gold, a wholly owned subsidiary of VHGI, has recently initiated steps to leverage the company's operating history and corporate resources within the gold mining industry and plans to pursue these opportunities through lease-purchase opportunities, acquisitions and joint ventures.

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