ComCam: Back to the Future, 1940
January 11 2005 - 8:51AM
PR Newswire (US)
ComCam: Back to the Future, 1940 WEST CHESTER, Pa., Jan. 11
/PRNewswire-FirstCall/ -- ComCam, Inc. (OTC:CMCA) (BULLETIN BOARD:
CMCA) , a technology company with emphasis on Internet protocol
products and services, announced today that its Board of Directors
has approved ComCam's transition to become a Business Development
Company (BDC). A BDC is a fully reporting, closed-end investment
company regulated by the Investment Company Act of 1940. BDC
regulation was formed to encourage the flow of public equity
capital to private businesses in the U.S. It allows individual
investors to participate in business opportunities that until
recently were only available to high-net-worth investors. One of
the significant benefits afforded to a BDC is the ability to raise
up to five million dollars during any twelve-month period without
additional registration requirements. ComCam CEO Don Gilbreath
stated, "I have been fortunate to drive both product and market
development endeavors throughout my career. Since the tech
meltdown, pitching ideas for funding has involved more effort than
actually taking the idea through the execution phase. We had to
think like an investor, to understand the investor mindset when
looking for financing. Now that we think like one, we are now
becoming one. With our team, our soon-to- be-announced investment
committee, and our new funding sources, we will emerge as an
investment company to promote our ideas and collaborative
interests. There are so many little companies out there with good
technology and ideas that have not been served by the investment
community. I can count a few of my own ventures in that group as
well. We are building a public vehicle to combine related
technologies. Our goal is to transform resources and ideas into new
products, businesses and services." On January 10, 2005 ComCam,
Inc. (http://www.comcam.org/) elected to become a Business
Development Company pursuant to Section 54 of the Investment
Company Act of 1940. ComCam intends to build an investment
portfolio consisting of revenue-generating assets and emerging
companies well-positioned for future growth. The Company's focus is
on convergent IP technologies in the security, medical,
transportation, and entertainment sectors. Its first portfolio
investment company is ComCam International Inc.
(http://www.comcam.net/), a pioneering developer of fixed and
mobile IP video technology, products, and services. 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 that 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.
http://www.sec.gov/. Contact: Don Gilbreath, CEO ComCam, Inc. Tel.
610-436-8089 http://www.comcam.net/ This release was issued through
eReleases(TM). For more information, visit
http://www.ereleases.com/. DATASOURCE: ComCam, Inc. CONTACT: Don
Gilbreath, CEO, ComCam, Inc., +1-610-436-8089 Web site:
http://www.comcam.net/ http://www.comcam.org/
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