Message #52 From:
NewsBot Date: December 29, 2005 03:37:00 AM
CLXN News CLX Investment Company Announces December Payments from Portfolio Investments
TEMECULA, Calif.--(BUSINESS WIRE)--Dec. 29, 2005--CLX Investment Company, Inc. (OTCBB:CLXN) today announced that it has received payments from two of its portfolio investments, eStrategy Solutions and ActionView International, in the month of December.
Each of these portfolio investments were given access to a draw down line of credit, which is to be repaid, plus interest, in a timeframe agreed upon by the company and CLX. eStrategy Solutions, a Texas-based e-learning provider that develops online training solutions for government entities and other professional organizations, began repayment of its credit line in November 2005, and ActionView, a global manufacturer and marketer of "smart" scrolling advertising billboards, made its first payment back to CLX this month.
"As we stressed when eStrategy Solutions made its first payment last month, there are a number of benefits to CLX with each payment received from its portfolio investments," said Tammy Dunn, chief executive officer of CLX Investment Company. "Obviously, the payments provide cash flow to CLX that can cover expenses and other costs associated with the operation of the company and limit the need for the company to raise capital to cover these costs. The monies received can also be re-allocated elsewhere in the portfolio if there is a need or be used to make additional investments that the company may contemplate in the future."
In addition to regular repayment of the lines of credit CLX provides to its portfolio investments, the company also maintains an equity position in each of its portfolio companies.
"We strongly believe that our 49% equity position in eStrategy Solutions and the common stock that we hold in ActionView International will bring significant value to CLX in the future. Both of these companies are executing expansion strategies that we expect will successfully increase revenues and their value for the CLX portfolio. eStrategy Solutions could become a highly attractive acquisition candidate for large e-learning companies, especially as its online content delivery solutions expand beyond the state of Texas and into national markets. ActionView's growth in China and other emerging markets has the potential of increasing the value of CLX's stock position several times over. Clearly, both of these investments are positioned to provide significant return to CLX and its shareholders," stated Ms. Dunn.
"Beyond these two portfolio investments, we expect that our 20% position in Zonda Inc. will begin to return value in the very near future and that it also has immense potential as a long-term CLX investment," added Ms. Dunn.
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About the Company
CLX Investment Company (www.clxinvestments.com) has elected to be regulated as a Business Development Company pursuant to Section 54 of the Investment Company Act of 1940, and is pursuing a business plan wherein the Company seeks to make investment in developing companies with the goal of providing return for its shareholders.
CLX has acquired a 49% interest in eStrategy Solutions, Inc. (www.clxinvestments.com/estrategysolutions), a Texas-based e-learning provider that has developed online training solutions for government entities and other professional organizations. The Company has made an investment in ActionView International, Inc. (www.actionviewinternational.com), a publicly traded global manufacturer and marketer of "smart" scrolling advertising billboards. CLX holds a 20% equity interest in Zonda, Inc. (www.zondainc.com), a privately held company that specializes in test products that serve the medical diagnostic, bacterial food testing and environmental surfaces testing markets.
All statements included in this release, including statements regarding potential future plans and objectives of CLX Investments are forward-looking statements. Such statements are necessarily subject to risks and uncertainties, some of which are significant in scope and nature beyond CLX Investments' control. There can be no assurance that such statements will prove accurate. Actual results and future events could differ materially from those anticipated in such statements depending on many factors. Historical results are not necessarily indicative of future performance.
