Electronic Media Central Corporation Launches Business Development Company Under 1940 Investment Company Act

Date : 10/06/2006 @ 10:45AM
Source : Business Wire
Stock : Electronic Media Central Corporation (EMEC)
Quote : 1.3  0.0 (0.00%) @ 2:15AM
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Electronic Media Central Corporation Launches Business Development Company Under 1940 Investment Company Act

The directors of Electronic Media Central Corporation (OTCBB:EMEC) have approved an initial Marketing Plan to launch its initiative as a new Business Development Company (“BDC”) under the Investment Company Act of 1940. As a BDC it will operate under the name of MorrisBDC (www.MorrisBDC.com) and be affiliated with the Morris Capital Fund I, LP and BDC Capital Management, LLC to provide both a source of capital and significant management support for its client portfolio companies, said George Morris, president of EMEC. The election by EMEC to subjecting itself to the Investment Company Act of 1940 was filed with the Securities and Exchange Commission on May 12, 2006. This transformed EMEC into a closed end investment fund. Morris stated, “Now EMEC is ready to carry out its mission statement as a BDC and help small American companies (under $100-million) source capital from and through EMEC which, as a BDC, is authorized to make investments in securities of both private and thinly-traded public US companies. Further, as a BDC, it will offer significant support concerning management and operations, establishing objectives and policies, arranging financing, recruiting management personnel and evaluating merger and acquisition opportunities that the clients need to succeed.” Morris further stated that EMEC plans to receive both stock and fees from the portfolio companies that are profitable private companies ready to go public or to redirect public companies with problems to go into new areas of business activity to increase their value. “Our proposed advisor team represents significant experience in all facets of developing, managing and supporting both planned and existing public companies that will be part of the investment portfolio of EMEC,” said Morris. “We are networking and seeking investments in companies with excellent management that are driven by special events such as going public, mergers and acquisitions and technology developments.” Any forward-looking statements contained in this press release are qualified in their entirety by the complete discussion of risks set forth in EMEC’s most recent annual report on Form 10-KSB and quarterly report on Form 10-QSB filed with the Securities and Exchange Commission and available on the Commission’s Web site (www.sec.gov) and other sites. “MorrisBDC Redirect” and “Morris Corporate Redirect” and their logos are trademarks of EMEC. The directors of Electronic Media Central Corporation (OTCBB:EMEC) have approved an initial Marketing Plan to launch its initiative as a new Business Development Company ("BDC") under the Investment Company Act of 1940. As a BDC it will operate under the name of MorrisBDC (www.MorrisBDC.com) and be affiliated with the Morris Capital Fund I, LP and BDC Capital Management, LLC to provide both a source of capital and significant management support for its client portfolio companies, said George Morris, president of EMEC. The election by EMEC to subjecting itself to the Investment Company Act of 1940 was filed with the Securities and Exchange Commission on May 12, 2006. This transformed EMEC into a closed end investment fund. Morris stated, "Now EMEC is ready to carry out its mission statement as a BDC and help small American companies (under $100-million) source capital from and through EMEC which, as a BDC, is authorized to make investments in securities of both private and thinly-traded public US companies. Further, as a BDC, it will offer significant support concerning management and operations, establishing objectives and policies, arranging financing, recruiting management personnel and evaluating merger and acquisition opportunities that the clients need to succeed." Morris further stated that EMEC plans to receive both stock and fees from the portfolio companies that are profitable private companies ready to go public or to redirect public companies with problems to go into new areas of business activity to increase their value. "Our proposed advisor team represents significant experience in all facets of developing, managing and supporting both planned and existing public companies that will be part of the investment portfolio of EMEC," said Morris. "We are networking and seeking investments in companies with excellent management that are driven by special events such as going public, mergers and acquisitions and technology developments." Any forward-looking statements contained in this press release are qualified in their entirety by the complete discussion of risks set forth in EMEC's most recent annual report on Form 10-KSB and quarterly report on Form 10-QSB filed with the Securities and Exchange Commission and available on the Commission's Web site (www.sec.gov) and other sites. "MorrisBDC Redirect" and "Morris Corporate Redirect" and their logos are trademarks of EMEC.
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