CARLSBAD, Calif., May 24, 2004 (PRIMEZONE) -- S3I Holdings, Inc. (OTCBB:SEIH) today announced that the Company has received $200,000 as part of a $5 million equity financing commitment from Compass Capital Group, a Wall Street-based investment banking firm. The funds received from Compass Capital are designed to enable the firm to build shareholder value through growth of its existing operation subsidiary and a planned program of strategic alliances and acquisitions.
Wayne Yamamoto, CEO of S3I Holdings, said, "The receipt of this round of financing as part of the larger funding commitment from Compass Capital is intended to allow the Company to infuse capital into Securesoft Systems for the development, marketing and sales of SSI's product and service lines. S3I Holdings also plans to pursue acquisitions in areas such as software, technology, and other related industries, targeting existing revenue-generating companies for as initial acquisition targets, with an emphasis on those that are well-positioned for growth and that may return additional value for S3I Holdings' shareholders."
Company Profile
S3I Holdings, Inc. (www.s3i.us) is a Business Development Company regulated by the Investment Company Act of 1940. Its first operating subsidiary, Securesoft Systems, Inc. (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.