TEMECULA, Calif., Sept. 10, 2004 (PRIMEZONE) -- S3I Holdings, Inc. (OTCBB:SEIH) today announced that a special meeting of shareholders was held on September 08, 2004 for the purpose of considering and voting upon a proposal to amend the Company's Articles of Incorporation. A Schedule 14C Information Statement was filed by the Company on September 09, 2004 detailing the amendments, which were considered in order to allow the Company to operate more effectively and reach its full potential as an investment holding company.
At the meeting, shareholders representing a majority of the shares of voting stock approved a change in the Company's name, which will now be "BD Investment Company, Inc." The change is expected to have no immediate effect, but was undertaken to more accurately reflect the intended business operations of the Company. Other amendments to the Articles of Incorporation included the authorization of 2,020,000,000 shares of capital stock of the Company and authorizing the Board of Directors to adopt any recapitalization affecting the outstanding shares of capital stock of the corporation by effecting a forward or reverse split of all of the outstanding shares of any class of capital stock of the corporation without incurring the delay and expense associated with holding a special meeting of shareholders. Further details can be found by viewing the 14C filed with the Securities and Exchange Commission.
Christopher Berlandier, Chairman of the Company, commented, "The measures approved at this meeting are seen as critical to the future of the Company and are expected to allow us to build value in the Company's investment portfolio through strategic acquisitions and effective management of our assets. The Board firmly believes that the increase in the number of authorized shares will provide the Company with available shares which could be issued for a number of purposes, including acquisitions, stock dividends, stock splits, stock options, convertible debt and equity financings. While the Company presently has no specific plans, arrangements or understandings to issue any of the additional authorized shares of stock, the ability to promptly take advantage of market conditions and the availability of favorable opportunities presented to the Company without holding a special meeting of shareholders is also an important change for the Company.
"We expect to move forward in a positive direction with these issues resolved and are committed to returning value to our shareholders in the future," added Mr. Berlandier.
Company Profile
S3I Holdings, Inc. (http://www.s3i.us) 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 is a leader in compliance and risk management software, services and Internet technologies for regulated industries. S3I Holdings is currently seeking to acquire additional synergistic companies and is focused on assembling a portfolio of investments that will provide value to its shareholders.
This release contains forward-looking statements which involve a number of risks and uncertainties, which could cause actual results or events to differ materially from those presently anticipated. Such statements are based on currently available information which management has assessed but which is dynamic and subject to rapid change due to risks and uncertainties that affect our business, including, but not limited to, the impact of competitive products and pricing, limited visibility into future product demand, regulatory interpretation, and other risks detailed from time to time in the company's filings with the Securities and Exchange Commission.