TEMECULA, Calif., March 31, 2004 (PRIMEZONE) -- Nicholas Investment Company, Inc. (Pink Sheets:NIVM) today issued a statement regarding its recently filed 10-K with year-end financial results, which was filed with the Securities and Exchange Commission on March 26, 2004.
Shane H. Traveller, CFO of Nicholas Investment Company, commented, "While this annual report is primarily historical in nature, it does show the basic make-up of Nicholas as a Business Development Company. There are clear indications of the significant progress that has been made over a relatively short period, including an improvement of shareholder equity and a dramatic reduction in net loss for the same period last year. The increase in shareholder's net worth is primarily attributable to a discontinuation of existing operations in 2003 and the subsequent acquisition of Javelin Holdings in November of 2003. The company also recognized an unrealized gain on its investment in Javelin as a result of a rapid increase in Javelin's revenues and profitability.
"Our 10-K filing demonstrates improvement in the performance of the Company since current management has been installed; however, this report does not show all of the current operations of Nicholas since we added another portfolio investment, SINO UJE, Ltd., in January 2004. Our operating results showing both operating investments will be available with our financial results of the first quarter of 2004," added Mr. Traveller.
For the twelve month period ending December 31, 2003, the Company experienced a net loss of $108,683 as compared to $1,855,046 for the same period last year and $368,198 in shareholder's net worth as compared to a negative $329,485 last year. There are 3,688,267 shares outstanding as of March 15, 2004.
About Nicholas Investment Company
Nicholas Investment Company, Inc. is a closed-end fund whose core focus is to seek out strategic investments in a number of growth industries. The company has acquired 100% of Javelin Holdings, Inc. (www.javelinholdings.com), a small business consulting firm, and 95% of SINO UJE (www.sinouje.com), a non-stocking distributor that sells and services western-manufactured high-tech products to markets throughout China. For more information on the Company and its Fund Portfolio or to sign up for the Company's mailing list, please visit, www.nicholasinvestments.com.
All statements included in this release, including statements regarding potential future plans and objectives of Nicholas Investment Company, Inc. are forward-looking statements. Such statements are necessarily subject to risks and uncertainties, some of which are significant in scope and nature beyond Nicholas Investment Company, Inc.'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. Nicholas Investment Company, Inc cautions that historical results are not necessarily indicative of the future performance.