FOR IMMEDIATE RELEASE March 22, 2000
SEC COMMENTS ON FORM 10 FILING TO BE REPORTING COMPANY
FOR IMMEDIATE RELEASE. March 22, 2000
FT. WORTH, TX. 21st Century Technologies, Inc. (OTC.BB "TEXN") announced today that it has been informed by Staff of the Securities and Exchange Commission in Washington, DC that comments to its Form 10 to become a fully reporting company filed January 2000 were being issued in the next few days.
Many shareholders have asked the Company's investor relation's department questions about the timely filing of the Form 10. The Company filed its Form 10 on January 27, 2000 together with all exhibits well in advance of its April 24, 2000 compliance date. The Form 10 filing team composed of the Company's executive officers, accountants, attorneys, and Edgar specialists are ready to promptly respond with the SEC comments once they are received. With five operating subsidiaries with different product and marketing lines, the Company has appointed "team captains" for each subsidiary to coordinate the response process.
The Company has 30 days to respond to the SEC's comments to its Form 10 during which time its trading symbol will be changed from "TEXN" to "TEXNE". During this period of time there will be no other changes related to the Company's listing on the electronic bulletin board. If after 30 days, the SEC still has open comments then the Company will not be "comment free". If the Company receives a "plus" or "+" symbol next to the appended "E" it will have 60 days to become comment free with the SEC. Any company that does not meet the SEC's timeline to become "comment free" are automatically deemed non-compliant with its shares temporarily de-listed from the electronic bulletin board to "pink sheets" status (where quotes are provided to you by the National Quotation Bureau and directly through your broker). As soon as the company becomes "comment free" its BB status is restored.
Ken Wilson, Chairman of the Board has asked everyone in the Company to renew their commitment to becoming a fully reporting company and to work with the filing team and its captains. "We know that our shareholders have confidence in us and we're not going to let them down. We are going to become a fully reporting company with the SEC. The SEC's comments will be answered promptly, in full, and compliantly", said Chairman Wilson.
Financial Statements in this press release other than historical facts are "forward looking" statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such statements about its future expectations, including future revenues and earnings, and all other forward looking statements (i.e. future operational results and sales) involve risks and uncertainties and are subject to change at any time. The Company's actual results could differ materially from expected results.
Contact: Jennifer Runyan, Information Officer
21st Century Technologies, Inc. 702-876-0918
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