21st Century Technologies Approved as a Business Development Corporation - Initial Funding is Underway.Business Editors/High-Tech Writers LAS VEGAS--(BUSINESS WIRE)--Sept. 16, 2003 Arland D. Dunn, Chairman 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. 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 effective September 12, 2003, 21st Century Technologies Inc. has qualified as a Business Development Company pursuant to the Investment Company Act of 1940. Simultaneous with that approval, 21st Century Technologies Inc. has received the first round of funding from its previously announced financing deal with Compass Capital Group. "We are pleased that our filings met with the approval of the Securities and Exchange Commission. We are also pleased to see the immediate capital infusion Capital infusion Often refers to the cross-subsidization of divisions within a firm. When one division is not doing well, it might benefit from an infusion of new funds from the more successful divisions. from Compass Capital, our investment bankers, as a result of this change in operations. These new funds will provide the necessary seed capital for the many projects that for 21st Century is now committed to, including several possible acquisitions. We are also taking a look at the possibilities of a spin off at some point in the future, as a means of increasing shareholder value" "With the SEC approval of our 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 status and the first round of financing completed, we believe we have proven to the investment community that we have overcome two important obstacles on the way to obtaining the $34 million dollar Federal grant from the Department of Homeland Security Noun 1. Department of Homeland Security - the federal department that administers all matters relating to homeland security Homeland Security executive department - a federal department in the executive branch of the government of the United States . In addition, we believe we will be in line for a longer-term 5 year 180 million dollar per annum Federal grant from the Department of Homeland Security." 21st Century Technologies, Inc. operates three wholly owned subsidiaries. They are Innovative Weaponry, Inc., which manufactures Tritium-powered low-light and no-light gunsights; 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 precision adjustable gun sights and Trident Technologies Inc. which manufactures ProMag and SeaPatch, sophisticated permanent magnet-power leak and rupture sealing systems for use on land (ProMag) and at sea (SeaPatch). These quick sealing devices greatly enhance protection against HAZMAT leaks, no matter the cause. Large corporations, such as EXXONMOBIL (NYSE NYSE See: New York Stock Exchange :XOM XOM Exxon Mobil Corporation (stock symbol) XOM X/Open Object Management XOM OSI-Abstract-Data Manipulation API XOM Xml Object Model XOM X/Open Osi Abstract Data Manipulation ) and DOW CHEMICAL (NYSE:DOW) are equipped with ProMag, as are numerous fire departments across the country. The company is working closely with Congressional Staff to secure Department of Homeland Security funding and other funding sources for wider distribution of ProMags through the nation's fire departments. 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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