TEMECULA, CA--(MARKET WIRE)--Mar 9, 2007 -- Franchise Capital Corporation (Other OTC:FCCN.PK - News) today announced that chief executive officer Steven R. Peacock has participated in a scheduled interview with Equity Digest and that the transcript of the interview has been posted on the company's profile at www.equitydigest.com and on Franchise Capital's corporate website, www.franchisecapitalcorp.net. ADVERTISEMENT
In the interview, Mr. Peacock discusses a broad range of topics, taken from the most frequently asked questions of shareholders who contact the company. The questioning begins with how the company was introduced to Aero Exhaust, a world leader in performance exhaust technology and NASCAR Performance partner, and goes on to discuss many facets of the acquisition and Mr. Peacock's expectations for Aero's post-transaction positioning in the public markets. In January 2007, Franchise Capital executed a definitive agreement to acquire the issued and outstanding shares of Aero Exhaust and close of the acquisition is expected in the second quarter of this year.
"The questions addressed in this interview were taken from those that appeared to be of the greatest interest to a large number of our shareholders, so we hope that they are pleased to have their inquiries addressed directly by management," said Mr. Peacock. "We realize that due to what many see as the tremendous potential of Aero in the public markets, there has been a high degree of interest in Franchise Capital. We share the enthusiasm of our shareholders and believe that by completing the acquisition of Aero, Franchise Capital is delivering value to the company."
In the interview, Mr. Peacock addresses questions regarding the expected benefits of the acquisition of Aero Exhaust, the purpose of the escrow agreement with Golden Gate Investors, the progress of Franchise Capital's ongoing compliance work, and the potential of the company after its acquisition of Aero Exhaust.
"I look forward to additional future opportunities to address shareholders, including our upcoming shareholders meeting, which will be held on March 13, 2007," added Mr. Peacock.
To sign up to receive information by email directly from Franchise Capital Corporation whenever new press releases, investor newsletters, SEC filings, and other written material is issued, please visit http://www.franchisecapitalcorp.net.
About Equity Digest
EquityDigest.com specializes in providing brokers, fund managers and institutions with world-class investor relations for dynamic growth companies. EquityDigest.com believes that investor relations is a highly specialized business discipline that requires expert financial and public relations knowledge.
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 web site, 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 2005 filed with the Securities and Exchange Commission.
Contact: Contact: Gemini Financial Communications, Inc. A. Beyer 951-587-8072 Email Contact
-------------------------------------------------------------------------------- Source: Franchise Capital Corporation
The 'good' news here is that the target is still for end of 2nd quarter. I was concerned that they may have tried to push it back to 3rd quarter or say something like 'end of year' like most PK's do in these situations.
Things are progressing, I can wait 3 months for the merge to finalize. Have a 200K share position averaged at .023, not happy about being down a grand. However, I still think this will run pretty hard before the merge.
Aero may R/S, may not. Depends where the stock is. If we're at .05 or so at that point big buyers could come in and get us to $1. Either way current FCCN holders are going to get a piece of the action, even if that's 15% I'll have 30K shares, if this is trading at a few dollars in a year that's a pretty good deal.
I'm not flipping as I want to be able to sell and not have to pay a short term gain next March.
NOTIFICATION OF WITHDRAWAL OF ELECTION TO BE SUBJECT TO SECTIONS 55 THROUGH 65 OF THE INVESTMENT COMPANY ACT OF 1940 FILED PURSUANT TO SECTION 54(c) OF THE ACT
The undersigned business development company hereby notifies the Securities and Exchange Commission that it withdraws its election to be subject to sections 55 through 65 of the Investment Company Act of 1940 (the “Act”), pursuant to the provisions of section 54(c) of the Act and, in connection with such notification of withdrawal of election, submits the following information:
Name: FRANCHISE CAPITAL CORPORATION
Address of Principal Business Office: 43180 BUSINESS PARK DR., SUITE 202
TEMECULA, CA 92590
Telephone Number: (951)587-9100
Name and Address of Agent for Service and Process: STEVEN PEACOCK
43180 BUSINESS PARK DR., SUITE 202
TEMECULA, CA 92590
Commission File Number under the Securities Exchange Act of 1934: 333-72392
The following is the basis for the filing of this notification of withdrawal:
The Company’s operations are no longer those of an investment company as defined by the Investment Company Act of 1940. As a result the Company is unable to comply with the provisions of the Act.
Pursuant to the requirements of the Act, the undersigned company has caused this notification of withdrawal of election to be subject to sections 55 through 65 of the Investment Company Act of 1940 to be duly signed on its behalf in the City of Temecula and State of California on this 13th day of March, 2007.
TEMECULA, CA -- (MARKET WIRE) -- 03/14/07 -- Franchise Capital Corporation (PINKSHEETS: FCCN) today announced that at the company's annual meeting of shareholders held on March 13, 2007, a majority of the holders of the company's common stock approved a proposal to withdraw Franchise Capital's election to be treated as a business development company (BDC).
Franchise Capital has filed a Form N-54C notifying the Securities and Exchange Commission that the company has withdrawn its election to be subject to sections 55 through 65 of the Investment Company Act of 1940. The withdrawal is effective immediately, and Franchise Capital is currently conducting business as an operating company rather than as a business development company subject to the Investment Company Act.
At the special meeting, the company's inspector of election totaled the number of shares represented at the meeting, and concluded that a total of 781,326,143 shares of Franchise Capital's common stock were represented in person and/or by proxy. This represented a quorum for the purpose of conducting valid shareholder business at the meeting, since as of February 21, 2007, there were a total of 921,183,413 shares of Franchise Capital common stock issued and outstanding. The following voting results were then announced: 781,169,297 shares voted in favor, 55,912 shares voted against and 100,934 shares abstained. With a majority of the outstanding common stock voting in favor, the proposal was approved. ----------- got quite a few more shares out than i thought!-- 921,183,413!
Posts: 2503 | From: connecticut | Registered: Mar 2005
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quote:Originally posted by beandog24: FCCN and AERO EXHAUST R/M UPCOMING
Share Structure: 71 Million O/S, 53 Million Float
Spoke with Robert the COO at Aero, returned my call in thirty minutes which was impressive to say the least. Here's the scoop, Stephen (FCCN CEO) has been a consultant with Aero for around two years now and presented the opportunity to go public around three months ago, this has been in the works for quite sometime and Stephen finally acquired the shell (FCCN) recently. Robert stated that the reverse merger is a done deal just paperwork being finished up, couldn't give a time frame but he anticipates all being completed in the next couple of weeks. They are finalizing all financials prior to the announcement and plan on uplisting to the OTCBB upon merging. Aero currently operates out of a 100,000 sq. foot warehouse in south california and distributes to 30,000 different shops and numerous master warehouse distributors. He didn't elaborate on financials but stated that they are in a great position financially and are looking to gain even greater exposure of their product by going public. Also they are adding another warehousing facility and launching a retail brand per se in '07. Being private no financials are available but each shop does well over a thousand in sales so being conservative revenues are 30 mill at a minimum.
It would seem at these prices (and possibly lower) it couldn't hurt to hold some cheap shares. Even if the merger fall apart (and lets hope that's not a factor) the price should run on the rumors and anticipation. Just as I've been advised by many of the successful traders don't get greedy. We want no bag holders here. IMO GL
-------------------- Let's Go METS!!! Posts: 3317 | From: CT | Registered: Dec 2006
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i want to buy AND ETRADE HAS A RESTRICTION ON THIS ONE ALSO,I AM GOING TO CHOICE TRADE,I CANT TAKE ETRADE ANYMORE,BUT I HAVE TO WAIT TILL I SELL A STOCK.I DONT WANT TO LOSE MY PLACE ON THE LINE
Posts: 83 | From: ny | Registered: Dec 2006
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