21st Century Technologies, Inc.'s Investment Committee Recommends Credit Card Financial Acquisition to Board of Directors.Business Editors/High-Tech Writers LAS VEGAS--(BUSINESS WIRE)--Oct. 20, 2003 Christian Crespo, a member of 21st Century Technologies' (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :TFCT TFCT Thorium Fuel Cycle Technology TFCT Task Force on Combating Terrorism TFCT Transverse Folded Cabinet Technology ) Investment Committee, has communicated approval of the acquisition of Credit Card Financial Corporation ("CCFC CCFC Campaign for a Commercial-Free Childhood (formerly Stop Commercial Exploitation of Children) CCFC Crohn's and Colitis Foundation of Canada CCFC Coventry City Football Club CCFC California Cut Flower Commission ") by the Company to Arland D. Dunn, Chairman of the Board. Mr. Dunn said, "We are very pleased that our Investment Committee agrees with the action taken last week entering into a Letter of Intent to acquire CCFC. The Investment Committee is made up of independent directors, as required by the law, rules and regulations controlling corporate governance of Business Development Companies ("BDC's")." As a BCD (Binary Coded Decimal) The storage of numbers in which each decimal digit is converted into binary and is stored in a single character or byte. For example, a 12-digit number would take 12 bytes. See binary numbers. , we must not only maintain a majority of independent directors on our board, but we must also pass acquisitions or other investments through them first, as an Investment Committee. Although we had high confidence in the CCFC transaction, approval is always welcome." Mr. Crespo stated that, "The CCFC proposition gives 21st a terrific opportunity with which to not only increase shareholder value, but to add substantially to the net worth of 21st Century. It is an interesting and exciting business to add to 21st inventory." 21st Century Technologies, Inc., is a Business Development Company, which operates 3 wholly-owned subsidiaries - Trident Technologies, Inc., which manufactures high-technology rare earth permanent magnet powered leak and rupture sealing systems; Innovate Weaponry, Inc., which manufacture tritium-powered low and no light gun sights under the PT-Night Sights brand; and, 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 , which manufactures adjustable gunsights to a fine precision standard, sold under the "MMC See MultiMediaCard and Microsoft Management Console. " label. Acquisition of CCFC, which will buy and sell consumer credit card debt Credit card debt is an example of unsecured consumer debt, accessed through ISO 7810 plastic credit cards. Debt results when a client of a credit card company purchases an item or service through the card system. , is the Company's initial entry into the world of financial activity; however, many of 21st Century's upper management, including President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Arland D. Dunn, have extensive successful experience in the consumer debt industry. Safe Harbor Statement The statements made by 21st Century Technologies Inc. (the "Company") may be forward-looking in nature and are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements are based on assumptions and involve a number of risks and uncertainties, many of which are beyond the control of the Company. Actual results could differ materially from those projected due to risks such as changes in interest rates, market competition, our ability to generate orders and various other business risks. |
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