21st Century Technologies Enters into Additional $2.5 Million Private Placement with Compass Capital Group, Brings Total to $7.5 Million.Business Editors/High-Tech Writers LAS VEGAS--(BUSINESS WIRE)--Nov. 13, 2003 Today, 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 ) and Compass Capital Group of New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. have entered into a restricted stock purchase agreement for up to $ 2.5 million dollars in additional financing. "The agreement calls for Compass Capital to purchase 10,000,000 shares of restricted stock at a fixed price of $0.25 per share over the next 3 months. This is a 200% premium over our current market price. Compass Capital shall have no registration rights to these shares. This is a testament to Compass' long-term commitment to our company, and value in our stock. This agreement will add value for our shareholders," stated Arland D. Dunn, 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. of 21st Century Technologies. Mark Lefkowitz, investment banker Investment Banker A person representing a financial institution that is in the business of raising capital for corporations and municipalities. Notes: An investment banker may not accept deposits or make commercial loans. for the Compass Capital Group said, "This investment will bring our overall commitment to $7.5 million dollars. Compass Capital is making this investment to secure the capital necessary for 21st Century Technologies to make new acquisitions and ramp up Ramp Up To increase a company's operations in anticipation of increased demand. Notes: A company might 'ramp up' operations if they just signed a contract creating substantially more demand for their product. See also: Demand, Economies of Scale production for ProMag and SeaPatch. In addition, Compass Capital will be appointing a board member to the 21st Century Technologies investment committee, to oversee the investment and to bring new acquisitions to the company. The premium Compass Capital is paying reflects the long-term value we see in the company, as 21st Century implements its business plan for 2004 and beyond." 21st Century is a business development company which currently operates three wholly-owned subsidiaries, Trident Technologies, Inc., Innovative Weaponry, Inc. 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 . Trident manufactures ProMag and SeaPatch, rare-earth permanent magnet-powered leak and rupture sealing systems, especially effective in HAZMAT applications. 21st Century is seeking funding 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 to provide ProMag/SeaPatch to the nation's 31,000 fire departments. Trident and Miniature Machine manufacture low- and no-light gunsights and precision engineered and built adjustable gunsights, respectively. The company is acquiring Credit Card Financial Corporation, which will deal in the buying and selling of credit card consumer debt and will develop that business into a major profit center. 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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