WILMINGTON, DE -- (Marketwire) -- 10/30/09 -- Protective Capital Structures Corp
(PINKSHEETS: PCSO) seeks to name a new President to manage the day-to-day
operations of the company.
The new President will be expected to run the finance company that operates
as non-depository financial institution to arrange financing for its
proprietary financial product, the BCLOC, for businesses that qualify based
on the Company's criteria.
The Company seeks to provide funding by issuing bonds through its
affiliated special purpose entity. Also, it has the ability to provide
funding by issuing common or convertible preferred stock. Its subsidiary
has a license to proprietary software, from an affiliated company. The
software links to a financial guaranty instrument to build equity for
borrowers.
The Company expects to have the new President on board early next year in
2010. The new president is also expected to recruit additional staff to
support the day-to-day operations and business model.
The current president, G. Carol Johnson, has submitted her resignation,
effective December 31, 2009.
About PCSO
The PCSO business model, which is implemented through its subsidiary,
Independent Capital Credit Corporation, is to arrange financing for real
property and commercial revenue producing assets and to provide a
comprehensive range of solutions to the business market focused on earnings
and operational excellence. For more information, visit:
www.protectivecapitalstructurescorp.com.
Safe Harbor
The Private Securities Litigation Reform Act of 1995 provides a safe harbor
for forward-looking information made on the company's behalf. All
statements, other than statements of historical facts which address the
company's expectations of sources of capital or which express the Company's
expectation for the future with respect to financial performance or
operating strategies, can be identified as forward-looking statements. Such
statements made by the company are based on knowledge of the environment in
which it operates, but because of the factors previously listed, as well as
other factors beyond the control of the company, which include the ability
of the company to implement its business plans and expand its business
model, actual results may differ materially from the expectations expressed
in the forward-looking statements.
