21st Century Technologies Inc. Sells Paramount MultiServices Inc.LAS VEGAS -- 21st Century Technologies Inc. (the "Company") (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : TFCY) today announced that it has sold one of the wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. companies in its portfolio, Paramount MultiServices Inc. ("Paramount"). The sale of Paramount was made to The Romney Group Inc. ("Romney Group"), a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. . The Romney Group is controlled by Kevin Romney, the former president, chief executive officer and director of the company. The company is a business development company operated pursuant to the Investment Company Act of 1940. It holds various enterprises as investments and seeks to grow companies in which it has an interest. The company's current investment portfolio includes Jane Butel Corp., prizeWise Inc., TransOne Inc., Innovative Weaponry Inc., Trident Technologies Inc., DLC (1) (Data Link Control) See data link and OSI. (2) (Data Link Control) The data link layer protocol (layer 2) that is used in IBM's SNA networking. See SNA, data link protocol and Microsoft DLC. General Contracting Inc. and MMC See MultiMediaCard and Microsoft Management Console. Entertainment Group Inc. The company's investment ownership in these enterprises ranges from approximately 9% to 100%. Forward-Looking Statements This press release contains "forward-looking statements" within the meaning of 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, which are intended to qualify for the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. from liability provided thereunder. All statements which are not historical statements of fact are "forward-looking statements" for purposes of these provisions and are subject to numerous risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements. The company may experience significant fluctuations in operating results due to the impact of a number of uncertainties including, but not limited to, economic conditions, competitive products or pricing, technological changes and other factors. These uncertainties could cause operating results to vary significantly from those in prior periods and those projected in forward-looking statements. Additional information concerning potential risk factors that could affect the company's future performance are described from time to time in the company's reports filed with the Securities and Exchange Commission. |
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