eCom eCom.com Announces 1st Spin-Off Complete; USASN Acquires American Capital Holdings.Business Editors/High-Tech Writers PALM BEACH GARDENS, Fla.--(BUSINESS WIRE)--Dec. 22, 2003 eCom eCom.com, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ECEC ECEC Electrochemical Engine Center ECEC European Center for Environmental Communication ) today announced that it has completed the spin-off of its subsidiary USA SportsNet Company (USASN). In a separate matter, the Board of Directors of USASN recently agreed to acquire the assets of American Capital Holdings, Inc., http://www.achinc.net. Final terms and conditions are being prepared and closing documents will be forth coming on or before January 5, 2004. American Capital Holdings (ACH) is a privately held merchant-banking corporation located in Orlando, Florida The city of Orlando is a major city in central Florida and is the county seat of Orange County, Florida. According to the 2000 census, the city population was 185,951. A 2006 U.S. . ACH offers a unique investment opportunity to investors in its Guaranteed Principal Insured Convertible Securities - "GPICS." ECEC Chairman David J David J. Haskins (b. April 24, 1957, in Northampton, England) is a British alternative rock musician. He was the bassist for the seminal gothic rock band Bauhaus. Life and work . Panaia stated: "GPICS is one of the most interesting investment programs ever developed. It is a way for investors to continue to invest in buyouts, venture funds, mezzanine funds and emerging growth companies, seeking high yield upside possibilities without ever jeopardizing their principal investment." Upon completion of the acquisition, the newly organized company will operate under the name of American Capital Holdings, Inc. with offices in both Palm Beach County and Orange County, Florida Orange County is a county located in the U.S. state of Florida and is part of the Orlando-Kissimmee Metropolitan Statistical Area (MSA). As of 2006 Census Bureau estimates, the population is 1,043,500. [1] The county seat is Orlando. . ACH is in the process of executing a private placement offering for $250,000,000 to be used for ten targeted investments. It also plans to apply for listing on the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. . ECEC recently revised its business plan calling for the spin-off of its subsidiaries. Shareholders will benefit in all spin-offs but must maintain a position in ECEC to receive future pro-rata distributions of all spin-offs. ECEC is presently evaluating five other proposals for spin-offs. This press release contains certain 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. Actual events or results may differ materially from those discussed in such forward-looking statements. |
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