TEMECULA, Calif., Nov. 1, 2004 (PRIMEZONE) -- S3 Investment Company (OTCBB:SEIH) today announced that it has signed a Letter of Intent to purchase Redwood Capital, Inc., a privately-held investment advisory group. Redwood Capital specializes in investment banking for privately-held Chinese companies and has offices in China and the United States.
Chris Bickel, Chief Executive Officer and Chairman of S3 Investment Company, commented, "China is the fastest growing economy in the world and has been for over 25 years. Redwood Capital services a nice niche in China by working with private Chinese companies to allow them access to U.S. capital markets. The management of S3 Investment has extensive experience in China, making this acquisition an excellent match for the Company and for Redwood Capital, Inc."
Mr. Bickel has over 15 years experience both working and living in China where he established worldwide distribution for a number of products, set up direct offices for sales and marketing initiatives and cultivated an extensive network of business contacts.
"China's growth demands access to capital for private companies that lack funding resources in China, since state-owned companies have priority. It is the opposite of the way our free market systems work in the West. Private Chinese companies are now accessing foreign capital at all-time high levels, and the number of companies seeking this type of financing is growing rapidly. The acquisition of Redwood Capital is expected to allow S3 Investment to play a role in this market and to do it immediately," added Mr. Bickel.
S3 Investment anticipates benefiting in the short, medium and long term from this cash positive business and expects to leverage management's experience in China, the fastest growing economic market in the world, to find investment value and grow the Company's investment portfolio.
Company Profile
S3 Investment Company, 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. 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.
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.