SOURCE: Franchise Capital Corporation

May 01, 2007 09:10 ET

Franchise Capital Corporation Issues May 2007 Newsletter

TEMECULA, CA -- (MARKET WIRE) -- May 1, 2007 -- Franchise Capital Corporation (PINKSHEETS: FCCN) today announced the release of its May 2007 investor newsletter, which summarizes the significant events of the previous month.

A PDF version of the newsletter is posted in the media archive of the company's website at http://www.franchisecapitalcorp.net/media.php?type=newsletters and a notice has been distributed through its website-based mailing list.

The May 2007 newsletter includes an article on the filing of the first two delinquent quarterly reports for the periods ended December 31, 2005 and March 31, 2006. The filing of the reports for these two quarters is expected to pave the way for the filing of the 2006 annual report and the subsequent 2007 quarterly reports.

In the newsletter, Franchise Capital chief executive officer Steven R. Peacock commented, "The filing of these first two quarterly reports is considered especially important for two reasons. First, they were the company's oldest delinquent periodic reports, and as such, were inherently the most difficult periods from which to ascertain accurate information. Past Franchise Capital management is no longer involved with the Company, so the work was the result of exhaustive research and piecing together of the Company's financial history. The second reason that these two filings are so important is that all subsequent periods depend on the accuracy of these first two delinquent periods. Now that we have these completed, we feel confident that the 2006 year-end report and all subsequent quarters will follow shortly."

Once all of the delinquent reports are filed and the company's financial reporting is up-to-date, Franchise Capital will be prepared for the close of its expected acquisition of Aero Exhaust, a leader in performance exhaust technology and NASCAR Performance Partner.

The newsletter also reports the recent change in Franchise Capital's independent auditing firm and Aero Exhaust's agreement with the United Rockcrawling and Off-Road Challenge (UROC) for the 2007 season. The UROC agreement is intended to aid in promoting the Jeep, truck and SUV line of Aero's stainless steel exhaust systems.

To sign up to receive information by email directly from Franchise Capital Corporation, including notices when future investor newsletters are issued by the company, please visit http://www.franchisecapitalcorp.net.

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
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