WILMINGTON, Del., Aug. 14, 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 today that it is adding Extreme Visual Technologies, Inc., a Florida corporation, to its collection of portfolio companies.
Fernando Dalmau, President and Chief Executive Officer of Extreme Visual Technologies, Inc., said, "We are excited about becoming a part of the Universal Capital Management family of companies. We believe that they will assist us in achieving our significant growth plans as shown by the success of their current portfolio companies."
"Universal Capital Management is excited about adding Extreme Visual Technologies, Inc. to its portfolio companies. We expect to provide it with the resources necessary to increase its value along with achieving its goals," said Michael D. Queen, President and CEO of Universal Capital Management, Inc. "We believe that it can provide significant value to our fund and in turn to our stockholders."
About Extreme Visual Technologies, Inc.:
Extreme Visual Technologies, Inc. is a development stage company with a unique graphics imaging technology that allows the eye, without special glasses, to see in 3-dimensions. It has developed both vertical and horizontal platforms from which one can see these 3-dimensional images. The primary targets for this technology are consumer and business to business product and service companies for their marketing and sales efforts.
About Universal Capital Management, Inc.:
Universal Capital Management, Inc. is a publicly traded Business Development Company created under the Investment Act of 1940. Its purpose is to assist its portfolio companies with funding and management to facilitate growth and increase their value.
The primary investment objective of Universal Capital Management is to increase its net assets by adding value to each of its portfolio companies and thus, increasing stockholder value. The Company's Net Asset Value is the potential driving force for its market value. Management believes that the Company will be able to achieve these objectives by concentrating on investments in companies which are most likely to benefit from management's expertise in finance, strategic planning, operations, and technology.
Please visit the company's website at http://www.unicapman.com.
Forward-Looking Statements
Certain matters discussed in this press release are "forward-looking statements." These forward-looking statements can generally be identified as such because the context of the statement will include words, such as Universal Capital Management, Inc. ("UCM") or Extreme Visual Technologies, Inc. ("EVT") "expects," "should," "believes," "anticipates" or words of similar import. Similarly, statements that describe UCM's or EVT's future plans, objectives or goals are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties, including the financial performance of UCM or EVT as appropriate, and the valuation of UCM's investment portfolio, which could cause actual results to differ materially from those currently anticipated. Although UCM and EVT believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, they cannot give any assurance that their expectations will be attained. Stockholders, potential investors and other readers are urged to consider these factors carefully in evaluating any forward-looking statements. Certain factors could cause results and conditions to differ materially from those projected in these forward-looking statements, and some of these factors are discussed below. These factors are not exhaustive. New factors, risks and uncertainties may emerge from time to time that may affect the forward-looking statements made herein. These forward-looking statements are only made as of the date of this press release and both UCM and EVT do not undertake any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
UCM's operating results could fluctuate significantly due to a number of factors. These factors include the small number of transactions that are completed each quarter, the value of individual transactions, the timing of the recognition and the magnitude of unrealized gains and losses, UCM's dependence on the performance of companies in its portfolio, the degree to which it encounters competition in its markets, the volatility of the stock market and the volatility of the valuations of the companies it has invested in as it relates to its realized and unrealized gains and losses, the concentration of investments in a small number of companies, as well as other general economic conditions. As a result of these and other factors, current results may not be indicative of UCM's future performance. For more information on UCM and for a more complete discussion of the risks pertaining to an investment in UCM, please refer to UCM's filings with the Securities and Exchange Commission which can be found at http://www.sec.gov.