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FCCN (.0211) Franchise Capital Corporation Files Annual Report for the 2007 Fiscal Year
Monday, October 01 2007 5:46 PM, EST Market Wire "US Press Releases " MURRIETA, CA -- (MARKET WIRE) -- 10/01/07 -- Franchise Capital Corporation (PINKSHEETS: FCCN) today filed its annual report for fiscal year 2007, which ended on June 30, 2007 . The 10-KSB filing maintains Franchise Capital's fully reporting status as it prepares to close its acquisition of Aero Exhaust, Inc. The annual report can be viewed through a link on the home page of the company's website, www.franchisecapitalcorp.net. Aero Exhaust (www.aeroexhaust.com) is a leader in performance exhaust airflow technology and NASCAR Performance Partner. Franchise Capital has been positioned to serve as the public vehicle for Aero Exhaust and has provided $1.9 million in financing in the form of a commercial loan to Aero as part of the transaction. The value of the loan and any accrued interest are convertible into Aero Exhaust common stock at the time the share exchange closes. Included in the annual report is the status of the escrow account set up as part of the settlement of a Franchise Capital debt obligation that dated back to June 25, 2004 . The settlement included the pay down of a convertible debenture through the issuance of restricted common stock. The balance remaining on the debenture as of the September 25, 2007 record date of the annual report was $35,694 and 443,531,005 shares of common stock remained in escrow as of that date. As of October 1, 2007 , the balance remaining on the debenture is $27,539 and 430,871,055 shares of common stock remained in escrow. Once the entire debenture has been redeemed, any shares remaining in the escrow will be returned to the company's treasury and cancelled. "We are pleased to have the annual report completed and filed in advance of the close of our acquisition of Aero Exhaust," stated chief executive officer Steven R. Peacock. "As previously announced, we expect to close the acquisition this week and to file the required Form 8-K detailing the transaction four business days after the close. The 8-K will be a comprehensive document that requires legal review, so we anticipate making use of the entire four-day period to complete and file the required documents. "Under terms of the close of Franchise Capital's acquisition of Aero Exhaust, any remaining amount on the convertible debenture to Golden Gate Investors will be settled before the acquisition is consummated, and the escrow account will be closed. The details of the final settlement of the amount remaining on the convertible debenture will be included in the Form 8-K filed subsequent to the close of the acquisition," Mr. Peacock said. "We very much look forward to the events of the next several weeks, and we believe that through the final terms of the acquisition of Aero Exhaust, we will deliver long-term value to Franchise Capital shareholders," Mr. Peacock added. To sign up to receive information by email directly from Franchise Capital Corporation , including notices when the company issues future investor newsletters, please visit http://www.franchisecapitalcorp.net. About Aero Exhaust: Aero Exhaust is a world leader in performance exhaust airflow technology, manufacturing and distributing the most technologically advanced muffler on the market. Its product lines are built to the highest industry standards and offer the consumer a lifetime warranty. Aero Exhaust has been issued U.S. and Australian patents on its innovations and development in the exhaust industry, and its mufflers are available worldwide through major retailers, mass merchant centers, automotive aftermarket supply stores and wholesalers. Aero Exhaust mufflers are an exclusive National Association for Stock Car Auto Racing (NASCAR) Performance product and carry the prestigious NASCAR brand on product, packaging and related media. NASCAR legend Rusty Wallace is the official spokesperson for Aero Exhaust products. Additional information on Aero Exhaust's products, race team, and motorsports ventures can be found on its corporate website, www.aeroexhaust.com. Safe Harbor 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 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 the lack of funding, inability to complete required SEC filings, and others set forth in the Company's report on Form 10-K/A for fiscal year 2006 filed with the Securities and Exchange Commission . CONTACT: Gemini Financial Communications, Inc. A. Beyer 951-677-8073 Email Contact
-------------------- A Few Facts Are Better Than None At All Posts: 122 | From: East Tn | Registered: Apr 2007
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As i posted in the under .10 forum...I don't like this part...
"The details of the final settlement of the amount remaining on the convertible debenture will be included in the Form 8-K filed subsequent to the close of the acquisition,"
I hope all do really well on it...it has been great for flipping!
-------------------- #1 Rule: Protect your capital! #2 Rule: Never fall for the BS on the boards! Posts: 8890 | Registered: Jan 2006
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FCCN ( .028 )Franchise Capital Corporation Announces Resignation of Directors in Advance of Aero Exhaust Acquisition Market Wire "US Press Releases " MURRIETA, CA -- (MARKET WIRE) -- 10/02/07 -- Franchise Capital Corporation (PINKSHEETS: FCCN) today announced that two of the company's directors have submitted their resignations to the Board as part of the management transition in advance of the close of Franchise Capital's pending acquisition of Aero Exhaust. The resignations will be included in an upcoming Current Report on Form 8-K filed with the Securities and Exchange Commission . Directors Jim Bickel and Gary Nerison have tendered their resignations, which have been accepted by Robert McCoy, the chairman and sole remaining member of the Board. New directors are expected to be named within the next several days. Mr. Bickel and Mr. Nerison have served Franchise Capital as independent directors since January 2, 2007 , when they were appointed to assist with the management and oversight of the company as it executed its acquisition of Aero Exhaust. In addition to serving as directors, Mr. Bickel served as chairman of the investment committee and as a member of the audit committee, and Mr. Nerison served as chairman of the audit committee and as a member of the investment committee. "Mr. Bickel and Mr. Nerison served the company and its shareholders very well during the transition period from 'shell' company up to the point that we are preparing for the close of our acquisition of Aero Exhaust," stated chief executive officer Steven R. Peacock. "Their experience and understanding of the public company arena has made the management of this process much easier, and we would like to thank them for their service to Franchise Capital." "We look forward to the appointment of new directors to serve Aero Exhaust as it moves forward as the operating entity within the public company. We are confident that the new Board members will serve the company as well as Mr. Bickel and Mr. Nersion have," Mr. Peacock added. Aero Exhaust (www.aeroexhaust.com) is a leader in performance exhaust airflow technology and NASCAR Performance Partner. Franchise Capital, a fully reporting "shell" company, has been positioned to serve as the public vehicle for Aero Exhaust and has provided $1.9 million in financing in the form of a commercial loan to Aero as part of the transaction. The value of the loan and any accrued interest are convertible into Aero Exhaust common stock at the time the share exchange closes. To sign up to receive information by email directly from Franchise Capital Corporation , including notices when the company issues future investor newsletters, please visit http://www.franchisecapitalcorp.net. About Aero Exhaust: Aero Exhaust is a world leader in performance exhaust airflow technology, manufacturing and distributing the most technologically advanced muffler on the market. Its product lines are built to the highest industry standards and offer the consumer a lifetime warranty. Aero Exhaust has been issued U.S. and Australian patents on its innovations and development in the exhaust industry, and its mufflers are available worldwide through major retailers, mass merchant centers, automotive aftermarket supply stores and wholesalers. Aero Exhaust mufflers are an exclusive National Association for Stock Car Auto Racing (NASCAR) Performance product and carry the prestigious NASCAR brand on product, packaging and related media. NASCAR legend Rusty Wallace is the official spokesperson for Aero Exhaust products. Additional information on Aero Exhaust's products, race team, and motorsports ventures can be found on its corporate website, www.aeroexhaust.com. Safe Harbor 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 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 the lack of funding, inability to complete required SEC filings, and others set forth in the Company's report on Form 10-K/A for fiscal year 2006 filed with the Securities and Exchange Commission . CONTACT: Gemini Financial Communications, Inc. A. Beyer 951-677-8073 Email Contact
-------------------- A Few Facts Are Better Than None At All Posts: 122 | From: East Tn | Registered: Apr 2007
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FCCN ( .026 )Franchise Capital Corporation Announces Appointment of New Directors Market Wire "US Press Releases " MURRIETA, CA -- (MARKET WIRE) -- 10/03/07 -- Franchise Capital Corporation (PINKSHEETS: FCCN) today announced the planned appointment of two new directors, Bryan Hunsaker and Robert McMichael, to fill the vacancies created by the pending resignations of Jim Bickel and Gary Nerison. Mr. Hunsaker and Mr. McMichael will comprise two-thirds of the Board of Directors that will provide leadership and oversight for the company after the close of the acquisition of Aero Exhaust, Inc. Once the appointments take effect, the Franchise Capital Board of Directors will consist of Mr. Hunsaker, Mr. McMichael and Robert McCoy, who currently serves as chairman. "We look forward to the appointment of new directors to serve Aero Exhaust as it moves forward as the operating entity within the public company. We are confident that the new Board members will serve the company as effectively as Mr. Bickel and Mr. Nerison have," Mr. Peacock added. Bryan Hunsaker has served as chairman and chief executive officer of Aero Exhaust, Inc. since 2002. In that capacity, he negotiated and executed a multi year contract with NASCAR legend Rusty Wallace for the endorsement of the Aero product. Mr. Hunsaker negotiated and executed a multi-year contract for Aero Exhaust to serve as primary sponsor of the Morgan-McClure Motorsports #4 NEXTEL Cup team as well as negotiating and executing an extensive multi-year contract with NASCAR as an exclusive NASCAR Performance partner. During Mr. Hunsaker's tenure with Aero Exhaust, he oversaw the reengineering of existing product lines and the development of multiple synergistic product lines. He developed international manufacturing relationships and innovative manufacturing techniques for Aero Exhaust products. Under his leadership, product manufacturing costs were reduced by 300%. Mr. Hunsaker developed and implemented national media and advertising campaigns, which included television, print and other media. Under Mr. Hunsaker's direction, Aero Exhaust established a strong identity, purpose, and direction, as well as a national market presence. Robert McMichael has over 15 years of communications, information technology and Internet industry experience. He as been a communications and technology consultant to Fortune 50 companies, keynote speaker, guest lecturer at top MBA schools and was a pioneer introducing key products into the Application Service Provider (ASP), Voice Portal, and mobile communications industries. Mr. McMichael has developed strategic relationships with industry-leading companies, including Hewlett-Packard, Intel, IBM, EDS, Verizon, Sprint and Oracle to introduce next-generation services to wireless carriers. Mr. McMichael continues to be retained by and consults with Fortune 1000 and micro-cap companies to develop acquisition, business development and executive strategies. Currently, Mr. McMichael is leading one of the most innovative communication companies in the country and serves on Aero's Board of Directors. The Board appointments will be included in an upcoming Current Report on Form 8-K filed with the Securities and Exchange Commission . Mr. Bickel and Mr. Nerison, who served on the Board to assist with the acquisition of Aero Exhaust, resigned as part of the management transition in advance of the acquisition close. "The appointment of Mr. Hunsaker and Mr. McMichael is another important step in the management transition for Franchise Capital in advance of the close of its acquisition of Aero Exhaust," stated chief executive officer Steven R. Peacock. "Mr. Hunsaker has functioned as chairman and CEO of Aero Exhaust over the past 5 years, and we have a great deal of confidence in his leadership abilities. Mr. McMichael is extremely familiar with Aero having served as a Board member and will provide excellent guidance for the public company. "We look forward to completing the remaining steps necessary to effect the close of this transaction, and we will continue to communicate with shareholders throughout the process," Mr. Peacock added. Aero Exhaust (www.aeroexhaust.com) is a leader in performance exhaust airflow technology and NASCAR Performance Partner. Franchise Capital, a fully reporting "shell" company, has been positioned to serve as the public vehicle for Aero Exhaust and has provided $1.9 million in financing in the form of a commercial loan to Aero as part of the transaction. The value of the loan and any accrued interest are convertible into Aero Exhaust common stock at the time the share exchange closes. To sign up to receive information by email directly from Franchise Capital Corporation , including notices when the company issues future investor newsletters, please visit http://www.franchisecapitalcorp.net. About Aero Exhaust: Aero Exhaust is a world leader in performance exhaust airflow technology, manufacturing and distributing the most technologically advanced muffler on the market. Its product lines are built to the highest industry standards and offer the consumer a lifetime warranty. Aero Exhaust has been issued U.S. and Australian patents on its innovations and development in the exhaust industry, and its mufflers are available worldwide through major retailers, mass merchant centers, automotive aftermarket supply stores and wholesalers. Aero Exhaust mufflers are an exclusive National Association for Stock Car Auto Racing (NASCAR) Performance product and carry the prestigious NASCAR brand on product, packaging and related media. NASCAR legend Rusty Wallace is the official spokesperson for Aero Exhaust products. Additional information on Aero Exhaust's products, race team, and motorsports ventures can be found on its corporate website, www.aeroexhaust.com. Safe Harbor 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 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 the lack of funding, inability to complete required SEC filings, and others set forth in the Company's report on Form 10-K/A for fiscal year 2006 filed with the Securities and Exchange Commission . CONTACT: Gemini Financial Communications, Inc. A. Beyer 951-677-8073 Email Contact
-------------------- Never Listen To A Fool Posts: 17 | From: Tenn | Registered: Apr 2007
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