21st Century's 4th Quarter Generates Profit for 2003.Business Editors LAS VEGAS--(BUSINESS WIRE)--April 1, 2004 21st Century Technologies, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :BB TFCT TFCT Thorium Fuel Cycle Technology TFCT Task Force on Combating Terrorism TFCT Transverse Folded Cabinet Technology .OB-News) reported that net operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. for 2003 was $105,535. After cumulative effect of accounting adjustments required by the Company's conversion to a Business Development Company profit for 2003 was $337,531. This is the Company's first annual profit since 1998, according to Alvin L. Dahl, the Company's chief financial officer. The conversion to a BDC (Backup Domain Controller) In a Windows NT server, a copy of the Primary Domain Controller (PDC). The BDC is periodically synchronized with the PDC. See PDC. BDC - Backup Domain Controller by the Company became effective for accounting purposes on October 1, 2003. As a result of the conversion, the Company was able to charge management fees, loan origination fees and investment advisory fees to its portfolio companies and other firms with which it did business. Effective September 30, 2003 and December 31, 2003, all of the Company's portfolio companies and significant acquisitions were evaluated by independent business appraisers by several industry-accepted valuation methods, providing a strong foundation for building asset and shareholder value in the Company. As a BDC, the Company holds several portfolio companies, including Trident Technologies, Inc., Innovative Weaponry, Inc., Miniature Machine Corporation Miniature Machine Corporation (MMC) is a Nevada based corporation specializing in the design and manufacture of tactical weapons and weapon accessories. Founded in 1959, the company is best known for their line of adjustable tactical sights used by military and law enforcement , Paramount Multiservices, Inc. and Prizewise, Inc. Other acquisitions are being actively pursued. Safe Harbor Statement Under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: The statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future financial results, regulatory approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties as may be detailed in the Company's filings with the Securities and Exchange Commission. |
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