ACS Holdings, Inc. Announces Corporate Restructuring.ORLANDO, Fla. -- ACS (Asynchronous Communications Server) See network access server. Holdings, Inc. ("Company" or "ACSH ACSH American Council on Science and Health, Inc. ACSH Avionic and Control System Hardware ") (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ACSJ), announced today that on November 11, 2004, KMA KMA Kiss My Ass KMA Korea Meteorological Administration KMA Koninklijke Militaire Academie (Royal Military Academy; Netherlands) KMA Knoxville Museum of Art KMA Kentucky Medical Association KMA Korean Medical Association Capital Partners, LTD LTD 1 Laron-type dwarfism 2 Leukotriene D 3 Long-term depression, see there 4. Long-term disability . of Orlando, Florida was engaged to reorganize the Company. As part of the transaction KMA has acquired a controlling interest controlling interest The ownership of a quantity of outstanding corporate stock sufficient to control the actions of the firm. Controlling interest often involves ownership of significantly less than 51% of a firm's outstanding stock because many owners fail in the Company. KMA stated that the reorganization is proceeding and that it is the Company's intention to remain a Business Development Company regulated under the Investment Act of 1940. The Company has discontinued the debit card business and at present has no operations. It cannot be ruled out that the Company may need to seek Bankruptcy protection. However, KMA has been working diligently with creditors and investors to effectuate a settlement outside of bankruptcy. KMA and its consultants are taking all the required steps to keep the Company current in its SEC filings, as well as compliance as a Business Development Company. KMA plans a series of press releases to keep the investing public aware of the progression of the reorganization plan. About ACS Holdings Inc. ACS Holdings Inc., is a Business Development Company under the Investment Act of 1940 and upon the completion of the reorganization will aggressively seek opportunities in emerging and fast growth industries. Safe Harbor The statements made in this release constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project," "expect," or similar expressions. These statements are made pursuant to the safe harbor provisions 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. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, changing economic conditions, interest rates trends, continued acceptance of the Company's products in the marketplace, competitive factors and other risks detailed in the Company's periodic report Filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release. |
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