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WIKI ANALYSISAdult Entertainment Capital, Inc. (OTCBB: ADLE) develops an integrated electronic platform for the trading of alternative assets to private clients, broker-dealers, hedge funds, family offices, mutual funds, corporations, and other financial intermediaries. It offers Zealous Alternative Trading Platform, an electronic marketplace used to support and execute trades for buyers and sellers of restricted and illiquid securities.
The company also provides securities, brokerage and trading, and merchant and investment banking related services. In addition, it provides on-demand digital programming network, which brings together the community of comedians, actors, writers, sketch troupes, improvisation artists, and all of the denizens in the community of funny. The company, formerly known as Zealous Trading Group, Inc., is based in Tustin, California.
Company History
Adult Entertainment Capital, Inc. (“the Company”) was originally incorporated under the laws of the state of Nevada on September 25, 1978 as Casino Consultants, Inc. Prior to September 1992, the Company had no operations. On September 15, 1992, the Company entered into an Agreement and Plan of Reorganization with Ad Show Network, Inc., a Nevada corporation, whereby the Company acquired the assets of Ad Show Network, Inc., subject to liabilities, for shares of the Company’s common stock. On September 15, 1992, the Company changed its name to A.S. Network, Inc. On October 14, 1992, the Company changed its name to Ad Show Network, Inc. On August 17, 1995, the Company changed its name to Atlantic Syndication Network, Inc. On October 5, 2007, the Company filed an amendment to the Articles of Incorporation changing its name from Atlantic Syndication Network, Inc. to Zealous Trading Group, Inc. On August 25, 2008, the Company filed an amendment to its Articles of Incorporation changing its name to Adult Entertainment Capital, Inc.[1]
On July 16, 2007, the Company entered into an Agreement and Plan of Merger (the "Merger Agreement") with its wholly-owned subsidiary, ASNI II, INC., a Delaware corporation ("ASNI-II") and Zealous Holdings Inc. and subsidiaries (“Zealous Holdings”), which was consummated on May 9, 2008.[2]
Pursuant to the Merger Agreement (“Merger”), Zealous Holdings merged with and into ASNI-II and ASNI-II merged into the Company. As a result of the Merger, Zealous Holdings became a wholly-owned subsidiary of Adult Entertainment Capital, Inc., through which its operations will be conducted.
Zealous Holdings is a holding company whose subsidiaries are engaged in various financial services businesses including investment banking, trading services, and asset management services. Specifically, Zealous Holdings raises capital for small and microcap public companies as well as select private issuers through its broker dealer.
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