Message #31 From:
NewsBot Date: November 3, 2005 01:13:00 PM
TFCY News 21st Century Technologies Inc. Files a Voluntary Petition under Chapter 11 of the U.S. Bankruptcy Code
LAS VEGAS--(BUSINESS WIRE)--Nov. 3, 2005--21st Century Technologies Inc. (the "Company") (OTC: TFCY.OB) announced that on Nov. 1, 2005, it filed a voluntary petition under Chapter 11 of the U.S. Bankruptcy Code with the U.S. Bankruptcy Court for the District of Nevada, being case No. BK-S-05-28185. Chapter 11 is the reorganization provision of the U.S. Bankruptcy Code that enables a company to continue operations while it attempts to restructure its debt.
The Company is a business development company operated pursuant to the Investment Company Act of 1940. It holds various enterprises as investments and seeks to grow companies in which it has an interest. The Company's current investment portfolio consists of prizeWise Inc., TransOne Inc., Innovative Weaponry Inc., Trident Technologies Corp., DLC General Contracting Inc. and Mo-DV Inc. The Company's investment ownership in these enterprises ranges from approximately 9% to 100%.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, which are intended to qualify for the safe harbor from liability provided thereunder. All statements which are not historical statements of fact are "forward-looking statements" for purposes of these provisions and are subject to numerous risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements. The Company may experience significant fluctuations in operating results due to the impact of a number of uncertainties including, but not limited to, the uncertainties involved in all aspects of bankruptcy proceedings, economic conditions, competitive products or pricing, technological changes and other factors. These uncertainties could cause operating results to vary significantly from those in prior periods and those projected in forward-looking statements. Additional information concerning potential risk factors that could affect the Company's future performance are described from time to time in the Company's reports filed with the Securities and Exchange Commission.
