TEMECULA, Calif., Sept. 27, 2004 (PRIMEZONE) -- S3I Holdings, Inc. (OTCBB:SEIH) today announced that at the Company re-filed its recent 14C Information Statement on September 24, 2004 notifying shareholders of a special meeting to be held on October 12, 2004 at which a number of proposals to amend the Company's Articles of Incorporation will be considered. Included in the proposals to be considered is a change in the name of the Company and the authorization of additional capital stock.
Only shareholders of record at the close of business on September 23, 2004 will be entitled to vote at the special meeting.
Chris Bickel, Interim Chief Executive Officer for S3I Holdings, commented, "The changes under consideration at the special meeting are intended to give the Company the ability to operate effectively into the future, to build shareholder value and to get the company back on track toward growth and profitability. By embarking on this effort to build value in the Company's investment fund, we expect that our shareholders will be rewarded for their continued support in the past and through this transitional period.
"The input of our shareholders is important to us, and as a result, the Board of Directors has re-scheduled this special meeting to solicit additional shareholder comment. Through an active investor awareness program consisting of regular communication through press releases and other media and more direct interaction with our shareholder base, the Company intends to operate with a greater degree of transparency and participation from its investors," added Mr. Bickel.
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.