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Subject: News Update -- ACS Holdings
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Contact: KMA Capital Partners, Ltd., Orlando Warren White, 407-370-4300 Fax: 407 226-3977info@KMAcapital.com http://www.KMAcapital.com
This is a recent press release for ACS Holdings, Inc. For more press releases click the link below: http://finance.yahoo.com/q?s=acsj.ob ACS Holdings, Inc. Announces Debt Restructuring and Files Form
8K ORLANDO, Fla.--(BUSINESS WIRE)--March 2, 2005--ACS Holdings, Inc. ("Company" or "ACSH") (OTCBB:ACSJ - News), announced today that effective February 28, 2005 the Company through its consultant KMA Capital Partners, LTD. restructured approximately $1.7M in debt and filed a Form 8K with the SEC in connection with this matter. In the ongoing restructuring effort of the Company, investors representing approximately 94%, or $1.67 Million of notes with the Company, entered into an agreement to convert their notes into preferred equity in ACS Holdings Inc. The investors will receive Preferred Shares and warrants, if converted in 2 years total 586,000,000 common shares. The restructuring is an ongoing effort of KMA Capital Partners. This restructuring accounts for 95% of the investors involved with the Company since its inception. Mark Width, CEO ACS Holdings Inc., stated: "We are extremely appreciative of the cooperation we received from the investor base in working with the Company and KMA in the restructuring of the Company. This is a major step in moving forward with the Company as a BDC." KMA plans a series of press releases to keep the investing public aware of the progression of the reorganization plan. About ACS Holdings Inc. ACS Holdings Inc., is a Business Development Company under the Investment Act of 1940 and upon the completion of the reorganization will aggressively seek opportunities in emerging and fast growth industries. The Company is currently evaluating opportunities in the financial services, manufacturing, construction, medical and real estate markets Safe Harbor The statements made in this release constitute "forward-looking"
statements, usually containing the words "believe,"
"estimate," "project," "expect," or similar
expressions. These statements are made pursuant to the safe harbor provisions
of the Private Securities Litigation Reform Act of 1995. Forward-looking
statements inherently involve risks and uncertainties that could cause actual
results to differ materially from the forward-looking statements. Factors that
would cause or contribute to such differences include, but are not limited to,
changing economic conditions, interest rates trends, continued acceptance of
the Company's products in the marketplace, competitive factors and other risks
detailed in the Company's periodic report Filings with the Securities and
Exchange Commission. By making these forward-looking statements, the Company
undertakes no obligation to update these statements for revisions or changes
after the date of this release. Contact: KMA Capital Partners, Ltd., Orlando Warren White, 407-370-4300 Fax: 407 226-3977info@KMAcapital.com http://www.KMAcapital.com
Source: KMA Capital Partners and ACS Holdings Inc. |
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