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Press ReleaseComCam: Back to the Future, 1940WEST CHESTER, Pa, Jan. 11, 2005 -- ComCam, Inc. (OTC 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 |
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