TFCT gets funding....and the freakin price drops..sheeeesh.
$2 Million Funding of a $5 Million Commitment for 21st Century Technologies, Inc. Completed by Compass Capital
October 23, 2003 07:33:00 AM ET
21st Century Technologies, Inc. TFCT announced today that its investment bankers, Compass Capital Group of New York City, have completed funding of the first $2 million dollars of a $5 million commitment to 21st Century.
Mark Lefkowitz, Compass Capital Group's investment banker to 21st Century, said that they are very pleased with the ease we had of raising the first $2 million for 21st Century. "This investment in 21st Century has proved that our first impression regarding the direction of the firm and the quality of its management were more than correct. Compass Capital is extremely pleased with the development of 21st Century and its subsidiaries, as they increase shareholder value through a well developed, and more importantly, a well executed business plan. As we look forward to completing our $5 million dollar commitment to 21st Century, we expect to see a tremendous fourth quarter for the company and its shareholders."
Arland D. Dunn, President and CEO of 21st Century, observed that, "This continuing capital resource will enable our company to reach its goals. We are fortunate to have engaged Compass as our investment banking firm. Their excellent performance has all but assured the success of 21st Century for the future. This will be particularly helpful with our on-going dealings with the Department of Homeland Security, for the issue of sufficient capital to handle substantial sales has been removed as a problem, largely due to the efforts of our bankers."
21st Century's wholly owned subsidiary, Trident Technologies, Inc., manufactures ProMag and SeaPatch, rare-earth permanent magnet-powered leak and rupture-sealing devices that are especially effective at dealing with HAZMAT spills. It seeks funding from the Department of Homeland Security to provide ProMag and SeaPatch systems to the nation's 31,000 plus fire departments. Innovative Weaponry Inc. and the Miniature Machine Corporation, other wholly owned subsidiaries of 21st Century manufacture tritium powered low-light and no-light gunsights, as well as precision-built adjustable sights.
Safe Harbor Statement
The statements made by 21st Century Technologies Inc. (the "Company") may be forward-looking in nature and are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements are based on assumptions and involve a number of risks and uncertainties, many of which are beyond the control of the Company. Actual results could differ materially from those projected due to risks such as changes in interest rates, market competition, our ability to generate orders and various other business risks.
Contact Information: Equitilink, Inc. Ron Garner, 877-788-1940
© 2003 BusinessWire
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