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Press Release Franchise Capital Corporation Files Two Quarterly Reports with Financial Results
Issued Tuesday April 17, 11:03 am ET
TEMECULA, CA--(MARKET WIRE)--Apr. 17, 2007--Franchise Capital Corporation (Other OTC: FCCN) today announced that as a part of its initiative to bring the company current on its delinquent filings, the company has filed two quarterly reports for past periods. The quarterly reports with financial results are for the quarters ended December 31, 2005 and March 31, 2006.
“While the reports filed are primarily historical in nature, reflecting a period when Franchise Capital was still operating as an investment fund with portfolio investments in the restaurant franchise business, having these first two quarterly reports filed is clearly a significant milestone for the company,” stated Steven R. Peacock, chief executive officer of Franchise Capital Corporation. “Our compliance staff has now turned its attention to completing the 2006 annual report and additional quarterly filings, which we expect to filed in the next several weeks.”
Under former management, Franchise Capital became delinquent in its reporting, and it has been a major focus of current management to bring the company’s filings current.
“Once all of these reports are filed and the company’s financial reporting is up-to-date, Franchise Capital will be another step closer to the close of its expected acquisition of Aero Exhaust, a leader in performance exhaust technology and NASCAR Performance Partner,” Mr. Peacock added.
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,, 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 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: Gemini Financial Communications, Inc. A. Beyer, 951-587-8072
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Posted by: Stock Analyzer In reply to: None Date:4/23/2007 7:17:30 PM Post #of 48150
FCCN .012 annotated descending triangle chart: One to radar at .01 range, if we go lower then play is over imo. But the slow stochastic lines says we "might" be turning up soon.
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FCCN -- Franchise Capital Corp. Com ($0.0001) COMPANY NEWS AND PRESS RELEASES FROM OTHER SOURCES:
Franchise Capital Corporation Announces Change of Independent Auditing Firm
TEMECULA, CA, Apr 24, 2007 (MARKET WIRE via COMTEX) -- Franchise Capital Corporation (PINKSHEETS: FCCN) today announced that on April 18, 2007, the company dismissed Epstein Weber & Conover, PLC as its independent auditors and on April 20, 2007, engaged Gruber & Company, LLC as the company's independent accountant. Gruber & Company will report on Franchise Capital's balance sheets as of September 30, 2006 and the related statements of income, stockholders equity and cash flows for the fiscal year. Details of the change are included in a Current Report on Form 8-K filed with the Securities and Exchange Commission on April 23, 2007.
In the 8-K, Franchise Capital states that the reports of Epstein Weber on the company's financial statements for the fiscal years ended September 30, 2005 and 2004 did not contain an adverse opinion or a disclaimer of opinion and were not qualified or modified as to uncertainty, audit scope or accounting principles. In connection with the audits of the company's financial statements for the fiscal years ended September 30, 2005 and 2004, (1) there were no disagreements with Epstein Weber on any matter of accounting principles or practices, financial statement disclosure or auditing scope and procedure which, if not resolved to the satisfaction of Epstein Weber, would have caused Epstein Weber to make reference to the matter in its report and (2) there were no "reportable events" as that term is defined in Item 304 of Regulation S-K promulgated under the Securities Exchange Act of 1934.
"With the completion of the two recently filed quarterly reports, management felt that it was in the best interests of Franchise Capital and its shareholders to change independent auditors at this time," stated Steven R. Peacock, chief executive officer of Franchise Capital Corporation. "The company's former auditors were inherited from past management and were recently acquired by another auditing firm.
"Our new auditors are already at work on the 2006 annual report, and we expect the annual report and the subsequent quarterly reports that will bring Franchise Capital fully up-to-date on its periodic filings will be completed in the coming weeks," Mr. Peacock added.
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, please visit http://www.franchisecapitalcorp.net.
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.
SUBJECT CODE: Automotive:Cars Automotive:Other passenger vehicles Automotive:Parts and Accessories Automotive:Repair and Restoration Automotive:Trucks Sports:Individuals and Teams Financial Services:Venture Capital Media and Entertainment:Television Sports:Competitions and Venues Sports:Equipment and Accessories Financial Services:Commercial and Investment Banking
Search for Dun & Bradstreet reports on this company.
Franchise Capital Corporation Announces Aero Exhaust Agreement With UROC to Aid in Promoting Jeep, Truck and SUV Line of Stainless Steel Exhaust Systems Franchise Capital Corporation (PINKSHEETS: FCCN) today announced that Aero Exhaust, Inc., with which it has executed an acquisition agreement, has signed on as the official exhaust of the United Rockcrawling and Off-Road Challenge (UROC) for the 2007 season. The announcement comes prior to the beginning of the 2007 Rockcrawling season scheduled to begin May 12, 2007 at Firebird Raceway in Chandler, Arizona, just outside of Phoenix.
Aero Exhaust is a leading manufacturer of high performance stainless steel exhaust systems and NASCAR Performance partner.
"We are excited to once again be working with UROC," said Bryan Hunsaker, CEO of Aero Exhaust. "Aero Exhaust products have always been known to be some of the most durable and highest performing mufflers in the market and we feel those qualities correlate directly with UROC racing. UROC provides us a great opportunity to directly target our customers in a setting where they are focused on vehicle performance."
Off-roaders understand that exhaust flow, durability, and temperatures are all important factors to consider when building a vehicle. Most vehicles have extreme restrictions on exhaust airflow, which increases exhaust temperatures and decreases engine longevity. The Aero Performance Exhaust breakthrough, based on thermodynamics and jet engine technology, dramatically reduces the exhaust backpressure, leading to reduced temperatures, increased horsepower, increased torque, increased fuel economy, and less engine wear & tear. This is great news for not only rockcrawling and off-road vehicles, but for the tow vehicles as well.
"Aero is such a well respected name in the industry," said UROC President, Ranch Pratt. "From NASCAR to street to off-roading, Aero has a solid reputation, and we are excited to work with them and be a part of their continued success."
The agreement covers all 2007 UROC Pro events including the ProNational Pacific and Atlantic Divisions as well as the World Championship SuperCrawl VI and the UROC Pro RockCross Nationals slated for the fourth quarter 2007.
UROC is the leader in Rockcrawling and RockCross(TM) sanctioning bodies in the United States and around the world and the first sanctioning body to build man-made courses around the country including Las Vegas, Phoenix, Salt Lake City, Atlanta, Indianapolis, Pomona, California and Portland, Indiana.
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, please visit http://www.franchisecapitalcorp.net.
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Last we heard was Q2 - so it could be another 6-8 weeks before anything definite is announced. I like that they are still making announcements for Aero though...good sign to me.
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Last we heard was Q2 - so it could be another 6-8 weeks before anything definite is announced. I like that they are still making announcements for Aero though...good sign to me.
This actually might be a good time to load up. Looks like we might see sub penny before the merger.
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Last we heard was Q2 - so it could be another 6-8 weeks before anything definite is announced. I like that they are still making announcements for Aero though...good sign to me.
This actually might be a good time to load up. Looks like we might see sub penny before the merger.
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posted
Sherri...VFIN has been selling shares at the ask for months now...this stock would be 4 to 5 times higher right now if it weren't for the dilution that has been going on...Bad move by the company IMO.
posted
I agree with you on that - both the 4 to 5 times higher and the bad move part, however, I personally think this is going to end up being a great play once the merger is completed sooner than later.
I've played the swing on this a few times, but we are getting close to crunch time, so I want a few to hang on to at these great prices.
Thanks for the heads up though - I really wasn't paying attention.
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posted
I take the amount of dilution to be related to the fact that FCCN's previous merger fell through, so they are making sure that they collect some money along the way (however it would be much smarter for them to let this run a little - they'd only make more).
There is never a guarantee on anything down here, but I like the fact that they pretty much have done what they said when they said it, so I am at least playing it and paying attention until June 30th.
Of course, I should also mention that while my hopes might be for the "WOW" gainer should the merger go through, if I can make 10% swinging this every so often, I am fine with that....
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Franchise Capital Corporation Announces Planned Introduction of New Aero Exhaust Products Franchise Capital Corporation (PINKSHEETS: FCCN) today announced that Aero Exhaust, Inc., with which it has executed an acquisition agreement, is planning the rollout of new products in its line of automotive performance exhaust systems.
Aero Exhaust mufflers are an exclusive NASCAR Performance product and carry the prestigious NASCAR brand on product, packaging and related media.
The prototypes for several new products have been completed and are currently being tested, and Aero is planning a June rollout for the first of these new products. These new products range from a complete line of direct fit mufflers to full turbo and cat-back systems, which include all parts from the catalytic converter to the tailpipe, for gas and diesel trucks and sports utility vehicles.
More detailed information on each new product is expected to be released in conjunction with the official rollouts.
"There has been significant activity within Aero Exhaust over the past several months, and we are pleased to be preparing for the rollout of several new products in Aero's line of innovative performance exhaust products," said Bryan Hunsaker, CEO of Aero Exhaust, Inc. "In addition to the introduction of these new products to the market, Aero will be using its relationship with SPEED Channel's 'Two Guys Garage' program to demonstrate the products to viewers in several new segments scheduled for June. We hope that Franchise Capital shareholders will be part of the audience who tunes in for these airings."
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, please visit http://www.franchisecapitalcorp.net.
-------------------- #1 Rule: Protect your capital! #2 Rule: Never fall for the BS on the boards!
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posted
Supposedly FCCN is going to release their own financials sometime before the end of the month (rumor) and every indication is that the merger is going to happen on schedule.
Sure hope so...that should bring both the official news and some momo volume before hand. Things have been picking up the last couple of days though.
Likely will be September before Aero files their own financials, but hey, what is another 3 months...
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posted
The latest report from Andrew is that everything is in the hands of the auditors, and they are waiting for the filings just like we are....could be any time now. Ask up to .0135 today....
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