TFCT...sheeesh...major news...income..revenue..purchasing major hotel...and the freakin price tanks.
argh.
21st Century Technologies, Inc. To Acquire Radisson Acapulco
November 20, 2003 11:15:00 AM ET
21st Century Technologies, Inc. TFCT has formed a joint venture with HealthCare Investors of America (HCIA), a company controlled by Dr. L. Enrique Fernando Molina. The venture was formed for the purpose of acquiring the Radisson Hotel Acapulco, which is a 225 room ocean front hotel on the Mexican Riviera. Arland D. Dunn, President and CEO of 21st Century, stated, "The way is now paved for 21st Century to build a subsidiary of real estate and hotel properties around the world. This project is in addition to the acquisition of a $10 million interest in HCIA. HCIA is a Real Estate Investment Trust (REIT) that makes real estate investments in North American properties. These are exciting acquisitions for our shareholders as we continue in our commitment to unlock the true value of our company."
HCIA is associated with Pacific Development, a general partnership controlled by Dr. L. Enrique Fernando Molina. Other companies controlled by the Molina family have developed, own and operate other destination resorts in Mexico, including the Ritz-Carlton, Cancun, under license agreement from Marriot International. The Molina family was also the anchor licensee of PepsiCo PEP for Mexico, under which they controlled Pepsi-Gemex, the largest independent Pepsi bottler outside the United States with annual revenues of over $1.0 billion. Pepsi-Gemex has regularly accessed US capital markets. Beginning in March,1993, Goldman Sachs, Merrill Lynch and Oppenheimer co-led an equity placement of Pepsi-Gemex American Depository Receipts GEM on the New York Stock Exchange and subsequent successful US debt placements with Chemical Bank and other institutions. In 1997, Pepsi-Gemex expanded through acquisition of a competitor and then selling to Pepsi Bottling Group PBG in a November, 2002 by cash tender offer of approximately $1.2 billion.
About 21st Century
21st Century is a business development company pursuant to the Investment Company Act of 1940 which currently operates three wholly-owned subsidiaries, Trident Technologies, Inc., Innovative Weaponry, Inc. and Miniature Machine Corporation Trident manufactures ProMag and SeaPatch, rare-earth permanent magnet-powered leak and rupture sealing systems, especially effective in HAZMAT applications. 21st Century is seeking funding from the Department of Homeland Security to provide ProMag/SeaPatch to the nation's 31,000 fire departments. Trident and Miniature Machine manufacture low- and no-light gun sights and precision engineered and built adjustable gunsights, respectively. The company is acquiring Credit Card Financial Corporation, which will deal in the buying and selling of credit card consumer debt and will develop that business into a major profit center.
Safe Harbor Statement Pursuant to the Private Securities Litigation Reform Act of 1995:
The statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future financial results, regulatory approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties as may be detailed in the Company's filings with the Securities and Exchange Commission.
Contact Information: Equitilink, Inc., Las Vegas Ron Garner, 877-788-1940
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