MIAMI, May 30, 2005 (PRIMEZONE) -- Atlantis Business Development Corporation, Inc. (OTCBB:ABDE) announced today that it does not intend to issue further free trading stock now that 727 Communications is turning revenues, thereby giving Atlantis a solid foundation of income. Recently, Atlantis had to raise additional capital to fund 727 Communications. Now that 727 is operational and generating revenues, there will be no further issuances of Atlantis free trading stock in the near future.
"With 727 generating revenues and no issuances of free trading stock, the current value per share on the market today is an under valuation," said CEO Christopher Dubeau. "We believe the stock should be valued above $1.00."
About Atlantis Business Development
Atlantis Business Development Corporation (OTCBB:ABDE) (http://www.atlantisbdc.com) is currently registered as a Business Development Corporation (BDC) and seeks out companies that are in their business development stage and invests in these companies. It also builds, creates, and funds its own profitable companies to produce value to its shareholders.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
The statements contained in this news release include certain predictions and projections that may be considered forward-looking statements under securities law. These statements involve a number of important risks and uncertainties that could cause actual results to differ materially including, but not limited to, the performance of joint venture partners, as well as other economic, competitive and technological factors involving the Company's operations, markets, services, products and prices. With respect to Atlantis Business Development Corp. (ABDE), except for the historical information contained herein, the matters discussed in this news release are forward-looking statements involving risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. Potential risks and uncertainties include, but are not limited to, ABDE's extremely limited operating history, uncertainties related to the Company's access to additional capital, competition and dependence on key management.