posted
Awesome! I just saw this starting to move again too - told 10 I was getting impatient, so it must be about time...although, usually I sell first LOL
-------------------- Study before you buy, Sell before you think about it.... Posts: 3903 | From: Gulf Coast | Registered: Jun 2006
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Franchise Capital Corporation Releases April 2007 Investor Newsletter Franchise Capital Corporation (PINKSHEETS: FCCN) today announced the release of its April 2007 investor newsletter. A PDF version of the newsletter is posted in the newly expanded media archive of the company's website at http://www.franchisecapitalcorp.net/media.php?type=newsletters and a notice has been distributed through its website-based mailing list.
The April 2007 newsletter includes a message from Franchise Capital Chief Executive Officer Steven R. Peacock in which he discusses the timetable for filing several quarterly and annual reports for past periods. Under former management, these reports became delinquent, and it has been a major focus of current management to bring the company's filings current. In the course of filing proxy material for the recent annual shareholders meeting, several estimated dates were given for the delinquent filings to be complete, including February 28, 2007 and March 15, 2007.
In the newsletter, Mr. Peacock comments, "Clearly, those estimated timetables have not been met, and I will take full responsibility for this lapse. From the beginning of our involvement with Franchise Capital, management has prided itself in setting realistic expectations, communicating accurately with shareholders and meeting the deadlines we set. This is the first significant deadline that has been not been satisfactorily met and we are working hard to rectify this situation as quickly as possible."
The newsletter also reports on the March 13, 2007 annual meeting, in which a vote of shareholders authorized the Board of Directors to withdraw the company's election to be regulated as a business development company (BDC) pursuant to the Investment Company Act of 1940.
Immediately following the adjournment of the meeting, Franchise Capital filed a Form N-54C, notifying the Securities and Exchange Commission that the company has withdrawn its election to be subject to sections 55 through 65 of the Investment Company Act of 1940.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 became effective immediately, and as of the date of the meeting, Franchise Capital began conducting business as an operating company rather than as a business development company subject to the Investment Company Act.
"The BDC withdrawal is clearly a significant milestone for the Company, especially as it looks to complete its acquisition of Aero Exhaust," 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 new material is issued by the company, including an upcoming interview with Mr. Peacock, please visit http://www.franchisecapitalcorp.net.
About Aero Exhaust:
-------------------- #1 Rule: Protect your capital! #2 Rule: Never fall for the BS on the boards! Posts: 8890 | Registered: Jan 2006
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posted
"The BDC withdrawal is clearly a significant milestone for the Company, especially as it looks to complete its acquisition of Aero Exhaust," added Mr. Peacock.
My favorite part...
-------------------- Study before you buy, Sell before you think about it.... Posts: 3903 | From: Gulf Coast | Registered: Jun 2006
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posted
Lock, I had a good stretch, but I only post one if I am REALLY sure it has something going for it. If I wouldn't be willing to throw 5K in, I won't post it....I actually haven't been looking for new picks right now since I have been trying to learn options. I need to start again though...
Thanks for the kind words!
-------------------- Study before you buy, Sell before you think about it.... Posts: 3903 | From: Gulf Coast | Registered: Jun 2006
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quote:Originally posted by a surfer: initial statement of beneficial ownership of securities.
looking for the exact definition of a form 3 and what it means but I can't find anything..
Anyone called Andrew lately?
Form 3 is a document required by the SEC and the appropriate stock exchange to announce the holdings of directors, officers, and shareholders owning 10% or more of the company's outstanding stock.
-------------------- ~You aren't wealthy until you have something money can't buy.~ Posts: 3070 | From: CT | Registered: Apr 2006
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