21st Century Technologies, Inc. Accomplishes 100:1 Reverse Split: TFCT Is The Symbol.Business Editors/High-Tech Writers FORT WORTH, Texas--(BUSINESS WIRE)--Feb. 26, 2003 Arland D. Dunn, Chairman and Chief Executive Officer of 21st Century Technologies, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :TFCT TFCT Thorium Fuel Cycle Technology TFCT Task Force on Combating Terrorism TFCT Transverse Folded Cabinet Technology ) announced that the Company has accomplished a 100:1 reverse split of its common stock (par value $.001), effective February 20, 2003. The Company did not change its domicile domicile (dŏm`əsīl'), one's legal residence. This may or may not be the place where one actually resides at any one time. The domicile is the permanent home to which one is presumed to have the intention of returning whenever the purpose . Mr. Dunn said, "In my opinion, this reverse split wil1 prove to be of great benefit to the Company and its shareholders. I believe that it will add value to our enterprise and create opportunities for expansion in the future." The Company had originally made plans for a shift of domicile to Delaware. "Upon thorough review the benefits offered by either state, together with the needs of the Company, it was decided that remaining domiciled in Nevada would be in best interest of all concerned." The recapitalization Recapitalization Restructuring a company's debt and equity mixture often with the aim of making a company's capital structure more stable. Notes: Companies often want to diversify their debt-to-equity ratio to improve liquidity. of the Company requires that NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on issue a new trading symbol Trading symbol See: Ticker symbol for the Company's stock. TEXN has been retired in favor of the Company's new trading symbol, TFCT. Mr. Dunn said, "TEXN was a nice trading symbol. TFCT is better. This Company can be bigger than Texas. TFCT, our initials, is appropriate for a Company which we intend to have a world-wide reach." Mr. Dunn also advised that the previously announced recapitalization raising authorized common shares to 300,000,000 plus the addition of 50,000,000 shares of two new classes of preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. has been accomplished effective February 20, 2003. "This additional capital authorization will make it easier for the Company to take advantage of business opportunities as they appear," Mr. Dunn stated All statements other than statements of historical fact included in this report are "forward-looking statements." The forward-looking statements, including statements about the company's future expectations, including future revenues and earnings, and all other forward-looking statements (i.e., future operational results and sales) are subject to assumptions and beliefs based on current information known to the company and factors that are subject to uncertainties, risk and other influences, which are outside the company's control, and may yield results differing materially from those anticipated. |
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