TEMECULA, Calif., Oct. 14, 2004 (PRIMEZONE) -- S3I Holdings, Inc. (OTCBB:SEIH) today announced that at a special meeting held on October 12, 2004 shareholders representing a majority of voting shares of common stock approved several amendments to the Company's Articles of Incorporation. The proposals, which included a change in the name of the Company, were filed in a 14C Information Statement with the Securities and Exchange Commission on September 24, 2004. S3I Holding's name has changed and will now be S3 Investment Company, Inc.
Chris Bickel, Chief Executive Officer, commented, "The changes approved at the special meeting are designed to allow the Company to promptly take advantage of market conditions and the availability of favorable opportunities presented to S3 Investment Company.
"Management's primary focus is to strengthen the Company's existing subsidiary and target additional companies for acquisition in order to build shareholder value and get the company back on track toward growth and profitability. Ideal acquisition candidates include companies with strong revenues or those well-positioned for growth and long-term value," added Mr. Bickel.
"We are pleased to have finalized the changes addressed at the meeting and look forward to moving forward and demonstrating to shareholders and the public markets that S3 Investment Company has turned a corner and that management is committed to improving the Company's performance and portfolio value," concluded Mr. Bickel.
Company Profile
S3I Holdings, 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. S3I Holdings 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.