Franchise Capital Corporation Amends Its Offering Circular with the Securities and Exchange Commission.SCOTTSDALE, Ariz. -- Franchise Capital Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :FCCN FCCN Fundacao para a Computacao Cientifica Nacional ) announced today that they have amended their Offering Circular Offering Circular An abbreviated prospectus for a new security listing. Delivered to individuals and brokerage houses, these documents are issued to arouse interest in the new issue. Notes: An offering circular allows investors to access information regarding a new issue. under Regulation E with the Securities and Exchange Commission. The original Offering Circular for $5 million was filed in December of 2004. The amended Offering has been reduced to $500,000. The reduction is a result of the current forecast of the Company's capital needs. The amended Offering Circular also includes certain revisions made in response to a review by the Securities and Exchange Commission in March of this year. All corporations operating under the Securities Act of 1940 are subjected to a review by the Commission every two years. The Commission's audit of FCCN revealed several areas in the Offering Circular that needed augmentation AUGMENTATION, old English law. The name of a court erected by Henry VIII., which was invested with the power of determining suits and controversies relating to monasteries and abbey lands. and clarification, most notably dealing with the Company's use of convertible debentures Convertible Debenture Any type of debenture that can be converted into some other security. Notes: For example, a convertible bond can be converted into stock. . The Commission's auditor determined that the convertible debentures issued by FCCN prior to becoming an investment company were senior securities and should have been approved by a vote of shareholders. Other changes to the offering circular clarify the Company's investment objectives and identify the Company's affiliates. It is Franchise Capital Corporation's mission to build a strong investment company with a solid and growing Investment Portfolio and to operate within the guidelines set forth by the Securities and Exchange Commission, all of which will promote increased shareholder value. About Franchise Capital Corporation: Franchise Capital Corporation is a Business Development Company pursuant to Section 54 of the Investment Company Act of 1940 whose goal is seek out various emerging and undervalued companies undervalued company A firm whose assets and potential earning power are not adequately reflected in its stock price. Although such firms are more likely to be subject to takeover attempts than others, determining whether a particular firm is actually that are in need of capital and support and invite them to be an Investment Portfolio Company of Franchise Capital Corporation. Using a skilled team of experienced professionals, Franchise Capital Corporation primarily concentrates on startup restaurant and other franchise concepts. Franchise Capital Corporation is not opposed to investing in non franchise related companies. Franchise Capital Corporation currently holds a 9% interest in Creative Eateries Corporation with over 3.5 million shares. Creative Eateries Corporation is a developer and operator of eight different restaurant franchising companies: Don Allio's Franchise Company, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control ; Q's House of Barbecue Franchise Company, LLC; Fit-n-Healthy Franchise Company, LLC; Pasta Pranzo Franchise Company, LLC; Kokopelli's Mexican Grill Franchise Company, LLC; Cousin Vinnie's Franchise Company, LLC; Kirby Foo's Asian Grill Franchise Company, LLC; and Comstock Jake's Franchise Company, LLC. 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: The statements in this release that relate to future plans, expectations, events, performance, and the like are 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 and the Securities Exchange Act of 1934. Actual results or events could differ materially from those described in the forward-looking statements due to a variety of factors, including those set forth in the company's report on Form 10-KSB for fiscal year 2005 filed with the Securities and Exchange Commission. |
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