TEMECULA, Calif., Feb. 15, 2005 (PRIMEZONE) -- S3 Investment Company (OTCBB:SEIH) today announced that the Company has filed its 10-Q Quarterly Report with financial results with the Securities and Exchange Commission. The filing will be the focus of tomorrow's market conference call with shareholders. Those interested in participating are reminded to call (913) 981-4902 or 1-800-811-7286 five to ten minutes prior to the scheduled start time and reference S3 Investment Company.
In the quarterly filing, the Company reported that net assets (total assets less liabilities) had risen to $3,622,679 as of December 31, 2004 from $368,198 as of June 30, 2004, the end of the Company's 2004 fiscal year. This increase results in a net asset value of $0.0094 per share. Total assets increased from $837,827 as of June 30, 2004 to 4,378,339 at the end of the period reflected in this report.
"This quarterly report demonstrates our progress in building value for shareholders even during a period when we have had to raise short-term capital to address a lack of revenue generation and the debts and liabilities inherited from past management. To have increased our per share net asset value to almost $0.01, as well as executing three major acquisitions and meeting several other ambitious performance goals during this period, all while saddled the baggage of past liabilities, is an achievement in itself," commented Chairman and Chief Executive Officer Chris Bickel.
"We have completed the first of a three quarter turn-around strategy for S3 Investment Company and look forward to additional progress in the next two quarters. By June of this year and the end of our 2005 fiscal year, we expect to have fulfilled all of our short and medium term goals, including achieving company-wide profitability and bringing real value to our shareholders," added Mr. Bickel.
About The Company
S3 Investment Company Inc. (http://www.s3investments.com) is a Business Development Company regulated by the Investment Company Act of 1940. Its first operating subsidiary, Securesoft Systems Inc. (http://www.securesoftsystems.com), was acquired in April 2003 and has been combined with recently acquired TSPartner to form Secure System Solutions, a security, compliance, business process and professional services solutions company. S3 Investments has also acquired 100 percent of Redwood Capital to participate in the fast-growing investment banking market in China. S3 is currently seeking to acquire additional synergistic companies and is focused on assembling a portfolio of investments that will provide value to its shareholders.
Any statements contained herein related to future events are forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on forward-looking statements. S3 Investment Company, Inc. undertakes no obligation to update any such statements to reflect actual events.