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efchamp
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Atlantis Business Development Corporation Inc. Announces Status Update on Sale of Its Subsidiary EFTAS, to Nettel Holdings, Inc.
9:30a ET February 28, 2007 (Market Wire)
Atlantis Business Development Corporation, Inc. (OTCBB: ABSD) is pleased to announce that it is rapidly moving forward to a definitive agreement to complete the deal with Nettel Holdings, Inc.

All the parties to the transaction, under which Nettel Holdings, Inc. will acquire the majority interest in the EFTAS Employment Program, have agreed to the terms outlined in the Letter of Intent, previously announced February 23, 2007.

Nettel Holdings, Inc. is a fast growing technology holding company, developing one of a kind technology solutions, which are primarily focused on the VoIP Industry. Nettel Holdings is known for turning innovative ideas into thriving companies. A public company since 2003, it is only natural for such a forward thinking technology innovator to want to help our soldiers.

EFTAS (Employment for the Armed Services) supports our military men and women, seeking civilian employment, as they return to their local communities at the conclusion of their military service. EFTAS, with the help of its broad community and business partner support, will make a difference for our soldiers.

Atlantis President and Director, Tim DeHerrera commented that, "We are pleased to have reached the agreement to move forward with Nettel Holdings, Inc. to complete the transaction in such a timely manner."

About Nettel Holdings, Inc:

Nettel Holdings, Inc. is a business incubator that creates small companies with a unique technology and supplies them with the necessary technical support, and finances needed to grow. The Company's main revenue producing product is called Advanced Voice Order Processing (AVOP). This product provides international long distance phone companies a single point of contact. The solution creates a mechanism to negotiate and manage call termination point agreements, with local phone companies, in countries around the globe.

Part of Nettel's success is its technical support which comes from a wholly owned subsidiary in Vietnam with more than 50 engineers, called Entec Software. This offshore operation provides a tremendous competitive edge for Nettel, and each subsidiary, keeping its software development costs extremely competitive.

About EFTAS:

EFTAS (Employment for the Armed Services) is an organization (www.eftas.org) dedicated to helping active duty military personnel find employment, prior to and on the heels of their return home from active duty. The site will be useful for all Veterans, as well. EFTAS is in the planning stages of developing its unique website that will provide the functionality of the leading electronic job posting websites, such as www.hotjobs.com, but for military personnel only.

In addition, EFTAS, a wholly owned subsidiary of Atlantis, is in the process of exploring other avenues for supporting the employment needs of our returning military personnel, such as collaborating with career fair operators, job training organizations, direct hiring employers, and executive search firms.

In sponsoring and supporting EFTAS, organizations and companies can gain a valued and focused benefit. Involvement with EFTAS, can position a firm as a leader in Local Community support and involvement, Military, and Military Veteran issues, and indicating a desire to attract these loyal customer bases.

About Atlantis Business Development Corporation Inc. (OTCBB: ABSD):

The Company (http://www.atlantisbdc.com) has elected to be regulated as a business development company in accordance with the provisions of the Investment Company Act of 1940, as amended. The business development company form of business is a vehicle established by Congress to allow smaller, retail investors to participate in and benefit from investing in small private businesses as well as the revitalization of larger private companies. As a business development company, ABSD is engaged in providing debt and equity financing to public and private companies. In addition, we provide access to private equity funds, for working capital, acquisitions, management buyouts, projects and special situations. ABSD offers its clients a "one stop shop" of equity and senior, subordinated, structured and mezzanine debt to realize their business development objectives.

ABSD plans to achieve the level of success and implement a growth strategy similar to other established business development companies, such as American Capital Strategies, Ltd. On the NASDAQ, a publicly traded business development company with capital resources of approximately $8.4 billion (http://www.americancapital.com).

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Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this news release include certain predictions and projections that may be considered forward-looking statements under securities law. These statements involve a number of important risks and uncertainties that could cause actual results to differ materially including, but not limited to, the performance of joint venture partners, as well as other economic, competitive and technological factors involving the Company's operations, markets, services, products and prices.

With respect to Atlantis Business Development Corp. (ABSD), except for the historical information contained herein, the matters discussed in this news release are forward-looking statements involving risks and uncertainties that could cause actual results to differ materially from those in such forward looking statements. Potential risks and uncertainties include, but are not limited to, ABSD's extremely limited operating history. Further, there are uncertainties that exist related to the Company's access to additional capital, competition, and dependence on key management.

Contact: Additional Information: Atlantis Business Development 305-446-1150 Investor Relations 503-336-5098

SOURCE: Atlantis Business Development Corp.

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Hope this works

Posts: 43 | From: Michigan | Registered: Jan 2007  |  IP: Logged | Report this post to a Moderator
netguy81
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Any particular reason why the stock went down so much ... i could not find any particular bad PR's except reaching a deal with Nettel Holdings, Inc ... this might be a good spot to come in and make some good bucks

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Market Correction - The value of the stock always decreases after i buy it

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The Stocker
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There is nothing wrong with this stock. They also have a stock dividend plan that will be completed soon. This will be back at .40 - .50 in no time. It loves the $1 range. It's so thinly traded that it jumps .10-.50 in any given day.
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netguy81
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that's what i thought but i just wanted to check that with others in case i'm missing something ...

about the dividend, one of there PR's mentioned that for every share of ABSD there will be a dividend of 1 share of EFTAS ... but is EFTAS a public limited company ... i mean is it traded because i could find its stock symbol or its price.

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Market Correction - The value of the stock always decreases after i buy it

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stocktrader22
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its call 10 mill dilution on a previous 9 mill O/S

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Disclaimer: Not accountable for anything I say

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netguy81
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dammmm ... this one went down 0.21 and ended at .10 ... good thing i didn't buy this ... though i have no idea why it went down so much !!

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Market Correction - The value of the stock always decreases after i buy it

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Ramius
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Wow, now seems like a good time to buy.
Posts: 722 | From: Richmond, Va , USA | Registered: Mar 2004  |  IP: Logged | Report this post to a Moderator
The Stocker
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ST22, So now they have 19mil O/S??? Isn't that still pretty low? Did that come from the 1 for 2 stock dividend back on feb 16?

At these levels, I just thought it was worth the gamble. But all I saw today was bright RED....

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netguy81
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stocker ... the drop could be some inside selling and in the next few days it may bounce back to 0.50 - 1.00 range ... given that there aren't any bad news out and the EFTAS sale to Nettel is completed

this is what i feel but i have been wrong before !!

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Market Correction - The value of the stock always decreases after i buy it

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The Stocker
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I was thinking close to the same thing. You would think the free shares of EFTAS would be great news... The float is so low, even another 10 mil should not hurt us. I'm not jumping ship. I still think this will run back up very nice. With that kind of volume today (something was up).
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terence
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imo the trick is in the dividend may encouver
a liquidation,be care here,old investors has take the dividend and its all perhaps a 99,99%.
is only my suspect i dont know

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terence

Posts: 365 | From: marbella | Registered: Sep 2006  |  IP: Logged | Report this post to a Moderator
   

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