VALLEY COTTAGE, NY — (Marketwire) — 08/02/11 — ProTek Capital, Inc. (PINKSHEETS: PRPM) today announced the Company finalized the acquisition of a corporation headquartered in Texas. The plan to acquire the Texas company as part of an overall expanded and updated business strategy had been previously announced. ProTek is updating its investment focus to concentrate on businesses within developing economies that are anticipated to have high growth opportunities. Specifically, ProTek will focus on developing high growth business opportunities located within the Caribbean and Gulf of Mexico region. ProTek is expanding its investment focus beyond software companies to include any early stage business investments with high growth potential.
The acquisition announced today brings another operation under the ProTek umbrella. ProTek also owns an 80% interest in Acute Systems Consulting LLC. Acute Systems is an information technology firm that specializes in providing innovative and customized IT solutions for businesses across the United States. With a foundation data center service offering, Acute Systems allows businesses to operate effectively and efficiently by offering clients the ability to stay on the cutting edge of technology.
Under the terms of a share exchange agreement to affect the acquisition announced today, ProTek acquired 100% of the shares of the Texas company in exchange for 10,000 newly issued shares of ProTek Series B Preferred Stock with 51% voting rights.
Robert Zysblat, the CEO of ProTek leading up to the transaction announced today, stated, “We are pleased to announce this acquisition. This transaction, being the first in a series of planned acquisitions, is expected to rapidly grow the Company-s portfolio of subsidiary operations with a focus on operations in economies experiencing high growth and on improving value for shareholders.”
In conjunction with the acquisition, the Company-s President and CEO, Robert Zysblat and its Director and COO, Owen Dukes resigned. Subsequently, John Verges was appointed ProTek-s interim CEO and sole member of the Board of Directors. Mr. Verges was a principal in the Texas company and holds 30% of the ProTek-s Series B Preferred Shares acquired as part of the Share Exchange in exchange for his holdings in the Texas company. The Company anticipates a new executive management team will be put into place shortly to aggressively pursue the expanded and updated business strategy.
The Texas company, Preston Trails Contractors, Inc. (“PTC”) currently provides construction contracting in Texas with an emphasis on repair and remodeling. PTC plans to update its current strategy to improve operational efficiency and growth opportunities. Management of three additional acquisition targets met in Miami two weeks ago focused on further developing plans to complete a roll-up into ProTek by the end of the year.
About ProTek Capital, Inc.
ProTek Capital, Inc. is a corporation with offices located in the United States, traditionally focused on investing or acquiring software companies that are privately held or traded on the public markets. In accordance with its expanded and updated business strategy, ProTek is updating its investment focus to concentrate on businesses within developing economies that are anticipated to have high growth. Specifically, ProTek will focus on developing high growth business opportunities located within the Caribbean and Gulf of Mexico region. ProTek is also expanding its investment focus beyond software companies to include any early stage business investments with high growth potential.
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Safe Harbor:
Statements contained in this news release, other than those identifying historical facts, constitute “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934 and the Safe Harbor provisions as contained in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relating to the Company-s future expectations, including but not limited to revenues and earnings, technology efficacy, strategies and plans, are subject to safe harbors protection. Actual Company results and performance may be materially different from any future results, performance, strategies, plans, or achievements that may be expressed or implied by any such forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking statements.
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