21st Century Technologies Outlines Succession Strategy after Passing of Chairman/CEO.Business Editors LAS VEGAS--(BUSINESS WIRE)--April 21, 2004 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 ) today announced the Company's succession strategy after the passing of Chairman and Chief Executive Arland Dunn, who died on April 19 at the age of 65 following a prolonged illness. The Board of Directors has appointed Larry Bach, a director and the corporate secretary, to serve as the company's acting chairman, and Kevin Romney, who had been serving as the general manager, to serve as the Company's new chief executive officer. The Company also announced the addition of John Dumble, vice president of Business Development, to fill the vacant position on 21st Century's Board of Directors. Detailed information regarding the changes in management will be set forth in a Current Report on Form 8-K Form 8-K The form required by the SEC when a publicly held company incurs any event that might affect its financial situation or the share value of its stock. Form 8-K See 8-K. filed with the SEC. On the changes, the Board issued a joint statement reading, "Mr. Dunn was an outstanding leader, businessman and friend who will be dearly missed by everyone associated with 21st Century Technologies. Our thoughts and sympathies go out to his family at this difficult time. Mr. Dunn successfully navigated the Company through its transition to a Business Development Company, the infusion of over $5 million of private placement financing, and the recently announced net profit for fiscal 2003. He made a lasting mark on 21st Century Technologies, and his leadership was an integral part of the Company's recent growth." The Board's statement continued, "We are confident in the abilities of Messer's Bach, Romney and Dumble to continue Arland's legacy with a successful transition and even greater performance in the future. Mr. Bach, who received his Bachelor of Arts degree from the University of North Texas and Juris Doctor The degree awarded to an individual upon the successful completion of law school. Juris doctor, or doctor of Jurisprudence, commonly abbreviated J.D., is the degree commonly conferred by law schools. from Southern Methodist University Southern Methodist University, at Dallas, Tex.; United Methodist; coeducational; chartered 1911. The school's facilities include laboratories for electron microscopy and stable isotopes, a museum of paleontology, and a graduate research center. , has been the Company's secretary since May 2002, and business advisor and consultant to Mr. Dunn since 1995. Mr. Romney, a certified public accountant Certified Public Accountant (CPA) An accountant who has met certain standards, including experience, age, and licensing, and passed exams in a particular state. who previously worked for Ernst & Young, is an experienced entrepreneur who has been the Company's general manager for the past two years. Mr. Dumble is a seasoned investor and business man who has been the Company's v.p. of Business Development for the past 18 months." 21st Century Technologies is a Business Development Company pursuant to the Investment Company Act of 1940. 21st Century has ownership in several investment portfolio companies, including Trident Technologies, Inc., which manufactures high-technology magnet-powered patching and sealing systems; Innovative Weaponry, Inc., maker of low-light and no-light tritium-powered gun sights; the 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 , manufacturer of precision adjustable gun sights; Paramount Multiservices, Inc., a telemarketing telemarketing, the practice of selling goods or services to customers by means of the telephone or of surveying consumer preferences in telephone conversations. firm; and PrizeWise, Inc., a Web-based marketing system which is being readied for a near future launch. 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. Statement Under the Private Securities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Reform Act of 1995: The statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties, including, but not limited to, risks associated with the uncertainty of future financial results, regulatory approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties as may be detailed in the Company's filings with the Securities and Exchange Commission. |
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