Electronic Media Central Corporation Launches Business Development Company Under 1940 Investment Company Act
October 06 2006 - 10:45AM
Business Wire
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.