TEMECULA, Calif., Dec. 8, 2004 (PRIMEZONE) -- CLX Investment Company, Inc. (OTCBB:CLXN) today announced that the Company has closed its acquisition of 40% of eStrategy Solutions, an e-learning and cost recovery solution provider, with delivery of $60,000 for its equity position and an additional $10,000 as part of an operating line of credit.
Under terms of its investment, CLX Investments will provide eStrategy Solutions an operating line of credit totaling $250,000 to grow revenues by executing an expanded operational and business strategy. eStrategy Solutions provides online training solutions for government entities and other professional organizations and helps its customers to achieve lower training costs and increase workforce competency. CLX is also expected to name one member to eStrategy's Board of Directors.
Shane H. Traveller, Chief Executive Officer of CLX Investments, commented, "With our investment in eStrategy Solutions closed and the first part of the operating line of credit received, we are confident that eStrategy will increase the value of our investment for the benefit of CLX shareholders by continuing to operate profitably while growing revenues. By using the additional capital to expand its marketing program within the state of Texas and into other states, we expect that eStrategy will effectively execute its broader business plan and expand substantially."
Providing online training solutions for government entities and other professional organizations in Texas, eStrategy Solutions projects its 2005 net profit 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. 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. CLX acquired a 40% interest in eStrategy Solutions (http://www.estrategysolutions.com) on December 07, 2004.
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.