TEMECULA, Calif., Oct. 29, 2004 (PRIMEZONE) -- S3 Investment Company (OTCBB:SEIH) today announced that Chris Berlandier has resigned as the Company's Chairman of the Board and that Chris Bickel, Chief Executive Officer, has been appointed Chairman. A Current Report on Form 8-K regarding these changes will be filed will the Securities Exchange Commission within the proscribed timeframe.
"Mr. Berlandier has provided a measure of stability to the Company as new management was installed and S3 Investment Company initiated a number of steps designed to significantly increase the vale of its investment portfolio," commented Mr. Bickel.
"Having executed an initial agreement with industry leader TSPartner for a two-year, $10 million distribution of Securesoft Systems' HIPAA compliance products and services, we firmly believe that S3 Investment Company is now on track to grow the value of this subsidiary and the investment fund. We look forward to reaching additional agreements in the near future that are expected to bring value to the Company and its shareholders," Mr. Bickel added.
Company Profile
S3 Investment Company, 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. S3 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.