TEMECULA, Calif., Nov. 30, 2004 (PRIMEZONE) -- CLX Investment Company, Inc. (OTCBB:CLXN) today announced that the Company has executed a definitive agreement to acquire a 40% non-dilutive interest in eStrategy Solutions, an e-learning and cost recovery solution provider, through an equity purchase and by providing an operating line of credit in the amount of $250,000. CLX Investments agreed to pay eStrategy Solutions $60,000 prior to closing for its equity position and will name one member to eStrategy's Board of Directors.
Shane H. Traveller, Chief Executive Officer of CLX Investments, commented, "We are pleased to have completed this definitive agreement with eStrategy Solutions and expect that by providing this company with an operating line of credit, the value of our investment will grow substantially. The eStrategy management team is prepared to execute an effective business strategy that will expand its marketing program to a broader geographic area and grow revenues."
By providing online training solutions for government entities and other professional organizations in Texas, eStrategy Solutions projected its 2005 net revenues to be approximately $3 million. By the middle of 2004, eStrategy Solutions had been engaged by 16 organizations to build more than 25 courses that train over 15,700 users, resulting in lower training costs and increased workforce competency. eStrategy's core technology team is planning to utilize a platform capable of serving users that number into the millions.
About the Company
CLX Investment Company elected to be regulated as a Business Development Company pursuant to Section 54 of the Investment Company Act of 1940 on September 13, 2004 and is pursuing a business plan wherein the Company will seek to acquire and invest in developing companies.
All statements included in this release, including statements regarding potential future plans and objectives of CLX Energy are forward-looking statements. Such statements are necessarily subject to risks and uncertainties, some of which are significant in scope and nature beyond CLX Energy's control. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Actual results may differ materially depending on many factors. CLX Energy cautions that historical results are not necessarily indicative of the future performance.