SOURCE: Franchise Capital Corporation

June 08, 2007 09:02 ET

Franchise Capital Corporation Files 2006 Annual Report and Three Additional Quarterly Reports and Becomes Current on Financial Filings

TEMECULA, CA--(Marketwire - June 8, 2007) - Franchise Capital Corporation (PINKSHEETS: FCCN) today announced that the company has filed its annual report for fiscal year 2006 and three subsequent quarterly reports, which brings Franchise Capital current on its financial filings in preparation for the company's anticipated acquisition of Aero Exhaust, Inc.

The 2006 annual report covers the fiscal year ended June 30, 2006. The three subsequent quarterly filings cover the periods ended September 30, 2006, December 31, 2006 and March 31, 2007.

Completing the filings that had become delinquent under former management was a critical aspect of the clean-up of Franchise Capital to position it as the appropriate public vehicle for the acquisition of Aero Exhaust, Inc., a leader in performance exhaust airflow technology and NASCAR Performance Partner. In mid-March, Franchise Capital filed two previous delinquent filings, the quarterly reports for the periods ended December 31, 2005 and March 31, 2006.

Now fully reporting and completely up to date on all of its financial reporting, the next periodic filing due from Franchise Capital Corporation will be the annual report for the fiscal year 2007, which is due by September 30, 2007.

"The completion of all of the past due filings and bringing Franchise Capital current on its financial reporting is the last major milestone to be reached by the company to prepare it for the close of the acquisition of Aero Exhaust, Inc.," stated Steven R. Peacock, chief executive officer of Franchise Capital Corporation. "Since being appointed to manage the compliance efforts and position Franchise Capital to acquire an operating company that will bring value to the Franchise Capital and its shareholders, we have been focused on reaching the point that the company would achieve fully reporting status. With these last four filings, we are pleased to have now reached that stage."

"We will continue to work closely with the management of Aero Exhaust to facilitate the best possible transaction for both Aero Exhaust and Franchise Capital shareholders. We see this relationship as a true win-win opportunity, and we look forward to seeing the full potential of Aero realized in the public markets," Mr. Peacock added.

To sign up to receive information by email directly from Franchise Capital Corporation whenever new press releases, investor newsletters, SEC filings, and other new material is issued by the company, please visit http://www.franchisecapitalcorp.net.

About Aero Exhaust:

Aero Exhaust is a world leader in performance exhaust airflow technology, manufacturing and distributing the most technologically advanced muffler on the market. Its product lines are built to the highest industry standards and offer the consumer a lifetime warranty. Aero Exhaust has been issued U.S. and Australian patents on its innovations and development in the exhaust industry, and its mufflers are available worldwide through major retailers, mass merchant centers, automotive aftermarket supply stores and wholesalers. Aero Exhaust mufflers are an exclusive National Association for Stock Car Auto Racing (NASCAR) Performance product and carry the prestigious NASCAR brand on product, packaging and related media. NASCAR legend Rusty Wallace is the official spokesperson for Aero Exhaust products. Additional information on Aero Exhaust's products, race team, and motorsports ventures can be found on its corporate web site, www.aeroexhaust.com.

Safe Harbor Statement: The statements in this release that relate to future plans, expectations, events, performance and the like are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the Securities Exchange Act of 1934. Actual results or events could differ materially from those described in the forward-looking statements due to a variety of factors, including the lack of funding, inability to complete required SEC filings, and others set forth in the Company's report on Form 10-K/A for fiscal year 2005 filed with the Securities and Exchange Commission.

Contact Information

  • CONTACT:
    Gemini Financial Communications, Inc.
    A. Beyer
    951-587-8072
    Email Contact