SOURCE: CLX Investment Company, Inc.

May 22, 2006 10:00 ET

CLX Investment Company Files Quarterly Report With Financial Results

TEMECULA, CA -- (MARKET WIRE) -- May 22, 2006 -- CLX Investment Company, Inc. (OTCBB: CLXN), an investment fund with holdings in e-learning, global advertising and diagnostic testing markets, today announced the filing of its Form 10-Q for the quarter ended March 31, 2006.

The quarterly filing shows the total loans and investments made to CLX portfolio companies as of the end of the reporting period to be $771,225. As a business development company, CLX's primary focus is to make investments into emerging or early-stage companies in various fields of business by arranging for and contributing capital and providing management assistance. The three current portfolio companies, eStrategy Solutions, Inc., ActionView International, Inc, and Zonda, Inc., are each executing expansion strategies that they anticipate will grow their businesses and increase the value of CLX's investment holdings.

"While the financial results of the quarter reported in this report do not show significant return on the company's investments, it is important to note that revenues from our portfolio investments have increased over the same period in 2005," said Robert McCoy, chief executive officer of CLX Investment Company. "Even as these revenues have increased, our main focus remains the support of our portfolio companies and working to facilitate both their overall success and generating long-term value for CLX shareholders. To that end, we will continue to provide critical resources for ongoing growth, rather than hastening repayment of the loans CLX has extended to these companies."

"Management strongly believes that our investments in eStrategy Solutions, Inc., ActionView International, Inc, and Zonda, Inc. put CLX shareholders in a position to benefit as these companies develop and grow revenues in emerging markets. Zonda continues to expand distribution of its products in worldwide markets, eStrategy Solutions expects to begin executing its multi-state expansion strategy in the coming weeks and ActionView International's work in the steadily growing China market bodes well for the value of CLX's common stock position. Overall, we are confident that management of these three firms are well equipped to build successful businesses, which should, in turn, increase the value of CLX's investment portfolio," added Mr. McCoy.

During the quarter ended March 31, 2006, the company incurred a net loss of $58,163 or $0.001 per share compared to a net loss of $309,912 or $0.05 per share for the same quarter of 2005. The current loss is primarily due to an unrealized gain on non-affiliated investment of $29,287 related to the company's portfolio investments and operating expenses, which were $111,840 for the quarter ended March 31, 2006.

During the six months ended March 31, 2006, the company incurred a net loss of $122,327 or $0.00 per share compared to a net loss of $541,740 or $0.13 per share for the same six months ended March 31, 2005. The change in net loss is primarily due to interest expense decrease of $396,695.

Revenues for the six months ended March 31, 2006 were $89,831 compared with revenues of $1,194 for the six months ended March 31, 2005. The current revenue was generated from interest income from portfolio investments and recognition of stock received on a financing agreement as investment income interest.

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About CLX Investment Company

CLX Investment Company (www.clxinvestments.com) holds a 49% interest in eStrategy Solutions, Inc. (www.estrategysolutions.com), a Texas-based e-learning provider that has developed online training solutions for government entities and other professional organizations. Also in the CLX investment portfolio is a 31% equity interest in Zonda, Inc. (www.zondaincusa.com), a privately held company that specializes in test products that serve the medical, bacterial food safety, cosmetic, beverage, pharmaceutical, veterinary, and environmental sanitation testing markets. CLX has invested, and holds a common stock position, in ActionView International, Inc. (www.actionviewinternational.com), a publicly traded global manufacturer and marketer of "smart" scrolling advertising billboards.

CLX has elected to be regulated as a Business Development Company pursuant to Section 54 of the Investment Company Act of 1940, and is pursuing a business plan wherein the Company seeks to make investment in developing companies with the goal of providing return for its shareholders.

All statements included in this release, including statements regarding potential future plans and objectives, of CLX Investments are forward-looking statements. Such statements are necessarily subject to risks and uncertainties, some of which are significant in scope and nature beyond CLX Investments' control. There can be no assurance that such statements will prove accurate. Actual results and future events could differ materially from those anticipated in such statements depending on many factors. Historical results are not necessarily indicative of future performance.

Contact Information

  • Contact:
    Gemini Financial Communications
    A. Beyer
    951-587-8072
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