PHOENIX, May 4, 2005 (PRIMEZONE) -- Franchise Capital Corporation (OTCBB:FCCN) today announced that chief executive officer Bradford Miller has participated in an interview with WallSt.net in which he discussed recent milestones reached by the company's portfolio investments and market activity potentially affecting the company's stock. The interview will be added to the WallSt.net website, www.wallst.net, in the coming days.
In the interview, Mr. Miller stated, "Shareholder value is extremely important to us and in order for us to succeed as a public company, we firmly believe it needs to be a major focus. We also understand that franchise sales and revenues alone are not enough to maintain a solid stock price. We have to continually be aware of who controls shares and how they may sell those shares into the market.
"Recently a group of investors, who control a large block of our stock, sold them into the market in a manner that we believe negatively impacted the stock price. We thought we had an understanding with that group regarding how they would sell the shares, but that understanding was clearly not adhered to," continued Mr. Miller.
"Since then, we have come together with our major shareholders with the focus of increasing shareholder value through steady growth that would reflect the company's current performance without the risk of shares being indiscriminately sold into the market. We feel confident we are succeeding in this goal," Mr. Miller added.
Mr. Miller also addressed expanding activity in the company's portfolio to other restaurant concepts. "We are currently developing our Italian concept and hope to have a prototype store open in the coming year. We are also in negotiations with several successful restaurants that are interested in franchising opportunities with the company."
About Franchise Capital Corporation:
Franchise Capital Corporation is a Business Development Company pursuant to Section 54 of the Investment Company Act of 1940. The company currently has five operating, synergistic investments holdings: Kokopelli's Mexican Grill Franchise Company, LLC; Cousin Vinnie's Franchise Company, LLC; Kirby Foo's Asian Grill Franchise Company, LLC; Comstock Jake's Franchise Company, LLC; and Fathom Business Systems, Inc., all of which are engaged in business related to restaurant franchise development.
Safe Harbor Statement: The statements in this release that relate to future plans, expectations, events, performance, and the like are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the Securities Exchange Act of 1934. Actual results or events could differ materially from those described in the forward-looking statements due to a variety of factors, including those set forth in the company's report on Form 10-KSB for fiscal year 2004 filed with the Securities and Exchange Commission.