WILMINGTON, Del., July 10, 2006 (PRIMEZONE) -- Universal Capital Management, Inc., (OTCBB:UCMT), a business development company which provides emerging growth companies with management and strategic resources for successful growth, announced the beginning of the trading of shares of the common stock of another of its portfolio companies, Theater Xtreme Entertainment Group, Inc. Theater Xtreme will trade under the symbol (OTCBB:TXEG).
"We have been working with Theater Xtreme for almost two years, and are very excited about this latest event in its history," stated Bill Colucci, Vice President of Universal Capital Management. Theater Xtreme designs, sells, and installs affordable, large-format, front projection home cinemas. Its home cinema packages feature OneView(tm), a media controller that combines on-screen movies, music, photos, games, and Internet access with the touch of a button. The company focuses on middle-income consumers in the home entertainment marketplace, emphasizing value and performance across its line of home cinema audio, video, furnishings, and accessories.
Theater Xtreme currently operates four (4) company-owned stores and has five (5) operating franchise stores with approximately fourteen (14) additional franchise stores in various degrees of completion. Additional information about Theater Xtreme is available at its web site at www.theaterxtreme.com and through its filings with the Securities and Exchange Commission which can be found at www.sec.gov.
Universal Capital Management, Inc. expects that the value of Theater Xtreme's common stock will continue to increase Universal's net asset value.
Additional information about Universal Capital Management, Inc. and its portfolio companies is available through the Company's periodic and other reports filed with the Securities and Exchange Commission. You may review these filings at www.sec.gov.
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