NEW YORK, May 11, 2004 (PRIMEZONE) -- Feminique Corporation (Pink Sheets:FEMQ) announced that it has changed its name to Receivable Acquisition & Management Corporation. The new stock symbol for the company is "RCVA".
On April 20, 2004, Feminique Corporation held its Annual Meeting of its Shareholders whereat, among other things, they increased the authorized capitalization to 325,000,000 shares of Common Stock and approved the granting of discretionary authority to the Company's Board of Directors to effect a reverse stock split not to exceed a ratio of 1-for-15.
On April 21, 2004, the Company's Board of Directors authorized a 1-for-15 reverse stock split, and effective as of the beginning of today, May 11, 2004, each fifteen shares of the Company's Common Stock has been converted into one share of the Company's Common Stock. The immediate result of the reverse stock split reduced the number of outstanding shares of Common stock to 5,000,000 shares. Subject to additional contemplated issuances of shares to be made to management and expected exercise of warrants to purchase 6,500,000 by Matterhorn Holdings, Inc., a controlling person (as disclosed in our recent proxy statement for the Annual Meeting), there will be post-split 20,090,000 outstanding shares.
About Receivable Acquisition & Management Corp.
The Company is the business of acquisition and recovery of charged-off consumer receivables. The Company commenced its new business strategy in December 2003 and continues to execute on its business plan. Further information is available in the company's filings with the Securities & Exchange Commission.
FORWARD-LOOKING STATEMENT
ALL STATEMENT CONTAINED HEREIN, AS WELL AS ORAL STATEMENTS THAT MAY BE MADE BY THE COMPANY OR BY OFFICERS, DIRECTORS OR EMPLOYEES OF THE COMPANY ACTING ON THE COMPANY'S BEHALF, THAT ARE NOT STATEMENTS OF HISTORICAL FACT, CONSTITUTE "FORWARD -LOOKING STATEMENTS" AND ARE MADE PURSUANT TO THE SAFE-HARBOR PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. SUCH FORWARD LOOKING STATEMENTS INVOLVE KNOWN AND UNKOWN RISKS, UNCERTAINTIES AND OTHE FACTORS THAT COULD CAUSE THE ACTUAL RESULTS FO THE COMPANY TO BE MATERIALLY DIFFERENT FROM THE HISTORICAL RESULTS OR FROM ANY FUTURE RESULTS EXPRESSED OR IMPLIED BY SUCH FORWARD-LOOKING STATEMENTS. SUCH RISKS AND UNCERTAINTIES ARE OUTLINED IN THE COMPANY'S ANNUAL REPORT ON FORM 10-KSB FOR 2003, ITS QUARTERLY REPORTS ON FORM 10-QSB, AND SUCH OTHER DOCUMENTS AS ARE FILED WITH THE SECURITIES AND EXCHANGE COMMISSION FROM TIME TO TIME. THE COMPANY IS NOT OBLIGATED TO REVISE OR UPDATE ANY FORWARD LOOKING STATEMENTS IN ORDER TO REFLECT EVENTS OR CIRCUMSTANCES THAT MAY ARISE AFTER THE DATE OF THIS RELEASE.