SOURCE: S3 Investment Company

May 10, 2006 09:30 ET

S3 Investment Company Announces Plans for Annual Shareholders Meeting

TEMECULA, CA -- (MARKET WIRE) -- May 10, 2006 -- S3 Investment Company, Inc. (OTC BB: SEIH) has filed a 14A Preliminary Proxy Statement announcing its plans to hold the annual meeting of stockholders on June 28, 2006, at 1:00 p.m. Pacific time at the company's corporate offices.

A subsequent 14A Definitive Proxy Statement that will confirm the meeting date and time is expected to be filed by May 19, 2006 and sent to shareholders of record.

The proposals to be considered and voted upon by shareholders at the annual meeting include the election of three directors to the company's board, as well as the ratification of the appointment of Chisholm, Bierwolf & Nilson as the company's independent public accountants and the appointment of Parsons Law Firm as the company's general counsel.

Shareholders will also be asked to consider and vote upon a proposal to increase the number of authorized shares of the company's capital stock to five billion, of which 4,900,000,000 shares will relate to common stock and 100 million shares will relate to preferred stock, subject to further designation by the Board of Directors.

The Board of Directors has recommended affirmative votes on all four proposals under consideration at the annual meeting.

"We look forward to filing the definitive proxy to give our shareholders the opportunity to vote upon the four proposals that will be addressed at the annual meeting," stated S3 chief executive officer Jim Bickel. "Beyond the ratification of our independent auditors and general counsel, we are pleased to give our shareholders the opportunity to elect the Board of Directors for another year of service to S3."

"Of even greater interest to common stockholders will likely be the proposed increase in the authorized shares of the company. Due to the enormous opportunities presented to SINO UJE and Redwood Capital in the China market, S3 management strongly believes that the company's full potential cannot be realized without an adjustment to its current capital structure," said Mr. Bickel.

"Specifically, SINO UJE has a large number of pending orders that, with the proper capital resources, would allow it to significantly increase revenues and profitability in a much shorter time-span than would otherwise be possible. Access to lines of credit and other similar instruments will increase the company's purchasing power and allow it to grow unfettered by current capital limitations. We believe that providing the proper resources to its subsidiaries is an important function of S3, and we are positioning the company for long-term future growth through the proposed increase in authorized stock," commented Mr. Bickel.

"We encourage shareholders who have questions regarding the proposals in the Preliminary 14A to contact the company or Equiti-trend Advisors, our investor relations representatives, to discuss why the Board believes these proposals to be vital to the company's long-term success," added Mr. Bickel

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About The Company

S3 Investment Company, Inc. (http://www.s3investments.com) is an operating company with two subsidiaries doing business in the China market. S3 holds a 100% equity interest in Redwood Capital (http://www.redwoodcapinc.com), which assists private Chinese companies in accessing U.S. capital markets by utilizing a network of investment banking relationships, and a 51% equity interest in SINO UJE (http://www.sinouje.com), a non-stocking distributor of medical and industrial high-tech products to markets throughout China.

Any statements contained herein related to future events are forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on forward-looking statements. S3 Investment Company, Inc. undertakes no obligation to update any such statements to reflect actual events.

Contact Information

  • Contact:

    Gemini Financial Communications
    A. Beyer
    951-587-8072
    Email Contact

    Equiti-trend Advisors LLC
    Larry Downs or Jason Horn
    800-585-6988