21st Century Files Second Quarter 10-Q Reporting Third Quarterly Increase--Year to Date Net Income Exceeds $2 Million
Thursday , August 12, 2004 08:00 ET
LAS VEGAS, Aug 12, 2004 (BUSINESS WIRE) -- Alvin L. Dahl, the Chief Financial Officer of 21st Century Technologies, Inc. (OTC:BB TFCT.OB) has reported to management that the Company's 10-Q will be filed with the U. S. Securities & Exchange Commission on Friday August 13, 2004. The Form 10-Q reported a 976% increase in assets over the same quarter in 2003 and an increase of 25% compared to year end 2003. "This was our third straight quarterly increase," stated Mr. Dahl. "It fulfilled earlier predictions of profitable operations and increasing shareholder value due to the net increase in Stockholders' Equity of $1,469,924 after BDC adjustments. Total assets of $16,835,800 were reported for June 30, 2004 versus $1,564,309 for the same period in 2003 and $13,489,476 at year end 2003. Net income for the second quarter of 2004 was reported as $1,469,924 versus a loss of $653,195 for the same period in 2003. Net income for the six month period ended June 30, 2004 was $2,202,379 compared with a loss of $908,902 for the same period in 2003. Shareholders' Equity has increased from $436,015 in June of 2003 to $15,316,404 for the same period in 2004. Shareholders can look forward to continued profitable operations as the Company continues to execute its business plan as a Business Development Company."
Kevin Romney, CEO, stated that he is very pleased by the Company's second quarter and year to date results. "We shall continue along the path that has been planned. Look for future expansion and further broadening of our business base."
21st Century, a Business Development Company pursuant to the provisions of the Investment Company Act of 1940, has several companies in its portfolio, including Trident Technologies, Inc., Innovative Weaponry, Inc., Paramount Multiservices, Inc., and PrizeWise, Inc. Other acquisitions are being actively pursued.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995:
The statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties, including but not limited to risks associated with the uncertainty of future financial results, regulatory approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties as may be detailed in the Company's filings with the Securities and Exchange Commission.
SOURCE: 21st Century Technologies, Inc.
CONTACT: 21st Century Technologies, Inc.
Troy Lovick, 702-248-1588
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