Tustin, California – Adult Entertainment Capital, Incorporated. (www.adultentertainmentcapital.com) (formerly ZLST.OB) announced that NASDAQ Market Operations changed its ticker symbol to “ADLE” (OTCBB:ADLE) today.
The Company (AEC) also has plans to become a Business Development Company (BDC) as early as next month.
“AEC will be the first BDC ever to focus purely on the Adult Industry which has been largely shut out by Wall Street firms,” said Milton C. Ault III, Chairman and CEO of Adult Entertainment Capital, Inc. The company expects to elect to become a BDC under the 1940 act by early October.
The Company expects to be dually listed on a European stock exchange before year-end.
As promised, AEC is now ready to announce the initial entries in the company portfolio. The following are the financial interests of Adult Entertainment Capital (AEC) and its subsidiaries at the date of this press release:
ComedyNet
AEC reached an agreement to acquire ComedyNet (www.comedynet.com) on August 25, 2008, in a deal that brings industry strong man Mark Graff back to the adult world. Graff is Chief Executive Officer of ComedyNet, which broadcasts to 19 million homes through most major cable operators.
ILG
AEC is deeply involved in negotiations with Internet Lending Group (www.internetlendinggroup.com) and subsidiary, ILGBill. Internet Lending Group services include: mediation; collections; lending and factoring for merchants; group purchasing organization (GPO); risk management tools; processing and direct lending for consumers, to name a few. ILG discerns the value of illiquid assets from their various data mining efforts and the resulting statistical analysis of that data. ILG also provides Credit Card processing through ILGBill. The transaction is expected to close on or before October 10, 2008.
Rock Candy
AEC acquired Southern California streaming adult media outlet Rock Candy Entertainment, in a deal finalized September 5, 2008. Rock Candy Entertainment provides a suite of nine streaming video sites, anchored by MonsterTubers.com [http://www.monstertubers.com].
Call Center
AEC has procured a state of the art telecom call center with more than 4,000 phone lines which serve as a collections center and a studio which provides live phone entertainment for adults.
URL Acquisition and Management
UAM currently owns and manages more than 1,000 URLs primarily in the adult industry.
Zealous Holdings, Inc. (“Zealous”)
Zealous Holdings, Inc. owns Zealous ATS, LLC (ZATS), through its wholly-owned subsidiary Zealous Capital Markets, LLC (ZCM), a Delaware limited liability company and registered Broker-Dealer, Member FINRA/SIPC. Zealous Holdings also owns a California based Investment Management Company, Zealous Asset Management, LLC. The company is in advanced talks to sell ZATS, its trading platform. However, there is no guarantee that the transaction will be concluded. Presently, ZCM is a full-service Broker Dealer with various investment banking clients. ZCM plans to offer various investment banking services to the adult industry when opportunities present themselves.
The Lifestyle Resort and Spa
The Company expects to close on a 140-acre east coast development project catering toward the fast-growing swingers lifestyle before year’s end that will potentially result in a 60-unit time share project. The Company is presently in negotiations to build a similar resort in the Northern California wine country. At this time, there is no guarantee that either of these properties will be built, due to possible opposition from the local planning and zoning committees in regard to the planned development.
Various Other Adult Assets
The Company presently has minority stakes in various adult projects including a publicly traded gentleman’s club. The Company expects to release details of its various projects in its coming quarterly filing. These projects and investments currently have no material impact on the company.
The Company expects to announce more new portfolio investments in the Adult Industry before the end of October.
For further information on the statements made in this press release, please contact Black and Blue Media by email to, [email protected].
For investor information and submission of business plans for potential investment opportunities, please email [email protected].
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About Adult Entertainment Capital, Inc:
Adult Entertainment Capital, Inc. is an OTC traded investment and financial services company. Adult Entertainment Capital currently trades Over the Counter through stock symbol ADLE.OB. The stock symbol changed to reflect the company’s name change from Zealous Trading Group, Inc., to Adult Entertainment Capital, Inc., today. The new CUSIP Number is 00740A 102.
Adult Entertainment Capital provides investment funds directly to private and public companies for a range of financial needs. We provide mezzanine and senior debt financing for buyouts in both partial and full equity partner situations
including start-ups, growth ventures, acquisitions, recapitalizations and buyouts.
As a public company, Adult Entertainment Capital has the ability to enter into long term commitments with our financial clients. Our investments generally have no fixed time horizon allowing us to provide capital for add-on acquisitions that help build value after the initial closing.
Our corporate headquarters is located at 15641 Red Hill Avenue, Suite 200, Tustin, Orange County, California. Here the 12,500 square foot space is the center of operations for several AEC portfolio companies which operate independently from one another.