TEMECULA, Calif., Nov. 18, 2004 (PRIMEZONE) -- CLX Investment Company, Inc. (OTCBB:CLXN) today announced that the Company has entered into a preliminary agreement to acquire a 40% interest in Austin, Texas-based eStrategy Solutions, a four year old e-learning and cost recovery solution provider with projected net revenues of approximately $3 million in 2005.
Under terms of the agreement, CLX will acquire the 40% non-dilutive interest through an equity purchase and by providing an operating line of credit with which eStrategy intends to grow revenues by executing an expanded operational and business strategy. CLX is expected to provide management assistance to eStrategy as it moves forward to fulfill its business plan, including providing at least one person to serve as a member of eStrategy's Board of Directors.
As a technology company that provides online training solutions for government entities and other professional organizations, eStrategy Solutions helps its customers to achieve lower training costs and increase workforce competency. By the middle of 2004, 16 organizations had engaged with eStrategy Solutions to build more than 25 courses that currently train over 15,700 users. eStrategy's core technology team is planning to utilize a platform capable of serving users that number into the millions.
Shane H. Traveller, Chief Executive Officer of CLX Investments, commented, "eStrategy Solutions has clearly identified a niche with tremendous revenue potential, as well as setting forth a highly effective plan to capture a larger market and grow revenues in the short, medium and long terms. After looking closely at eStrategy's comprehensive business plan and with the management assistance we intend to provide, we are confident that this investment has the potential to bring significant value to the CLX portfolio."
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.