RED BANK, N.J., Aug. 24, 2004 (PRIMEZONE) -- The following is a letter from John Figliolini, President of Atlantis Business Development Corporation, Inc. (OTCBB:ABDV).
Dear Shareholder,
I am writing to you today to discuss the new direction which your Company will be heading. Up until this point we made it clear that ABDV would be open to opportunities in all sectors of the market. Our basic premise was to seek out companies that can be turned into positive cash flow businesses with the proper equity investment made into them by ABDV. Fine Wein Records is an example of that; with a financial commitment of $250,000 by ABDV we expect Fine Wein to be able to throw off significant positive cash flow over the next 12 months from the various projects they are currently working on. E-Direct is another example; we should start to see some meaningful positive cash flow developing and continuing over the next 12 months. However, ABDV has not maintained a particular industry focus. As of today that has changed.
Last week we announced that ABDV will be providing $1,000,000 in equity financing to Future Quest, Inc. (Pink Sheets:FQIFF), a Company in the Oil & Gas sector, this was the start of our new direction. ABDV will be dedicated in locating and provide Managerial, Accounting and Financing for Companies in the Energy field, from Oil and Gas Companies to Alternative Energy Companies.
You may ask; Why the Energy related field? Simply it currently offers many opportunities and with the price of Oil approaching $50 per a barrel we believe there is a lot of wealth to be made in this sector. According to adjusted inflated dollars oil has not yet hit its all time peak of $73 from the 1970s. However, unlike the oil crisis of the past, we are looking at what will be a problem to stay with us for a long time. Simply put the demand for oil World Wide has increased by some 2.5% this year alone, most of which is because of China. The increase in oil prices is not a fade which once the bubble bursts will result in oil back in the $20-30 level. We are looking at a trend that is now cemented in stone. There are more players in the world economy today that require oil & gas to propel their own economies and this fact alone will keep oil prices at these higher levels. ABDV has already aligned itself with individuals that have experience in the Energy field. These individuals will help locate viable opportunities and the funding necessary to participate in these opportunities.
So what do we do with our non-energy related businesses such as Fine Wein Records and E-Direct? Well, first of all we will continue to incubate and nurture these businesses until they are at a level where they can move on their own. I believe that both of these Companies will be strong viable businesses in 12 months from now. At that point I will recommend to ABDV's Board of Directors that we spin-off these two businesses to our shareholders. This strategy is in keeping with the basic premise of our business module whereby we share the wealth directly with our shareholders by bringing public our portfolio Companies. We can then continue to concentrate in the Energy-related field.
By concentrating on a specific sector such as the Energy area we will be able to define ABDV's purpose and guide it like a laser. Our goal will be to locate and make investments in no less than four Energy-related businesses over the next 12 months. I believe that by maintaining this focus an investment in ABDV will be looked at as an innovative way to participate in the booming Oil & Gas and Energy-related fields.
John Figliolini, President
Atlantis (www.atlantisbdc.com) is a business Development Corporation ("BDC") and is subject to the Investment Company Act of 1940. As a BDC, Atlantis seeks development stage companies, which in their opinion offer exceptional growth potential. ABDV provides operating capital, management, accounting and strategic planning advice to all portfolio Companies.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this news release include certain predictions and projections that may be considered forward-looking statements under securities law. These statements involve a number of important risks and uncertainties that could cause actual results to differ materially including, but not limited to, the performance of joint venture partners, as well as other economic, competitive and technological factors involving the Company's operations, markets, services, products and prices. With respect to Atlantis Business Development Corp. (ABDV), except for the historical information contained herein, the matters discussed in this news release are forward-looking statements involving risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. Potential risks and uncertainties include, but are not limited to, ABDV's extremely limited operating history, uncertainties related to the Company's access to additional capital, competition and dependence on key management.
For more information regarding Atlantis Business Development Corp. contact Investor Growth at: 760-931-1122 or the Company at 732-212-9988