WILMINGTON, DE--(Marketwire - January 4, 2010)
Dear Shareholder,
In the most recent shareholder update, (News To
Share, September 2009), I promised you an update on Multiview
Technologies (MVT), one of our portfolio companies.
Universal Capital Management (OTCBB: UCMT) views 3D media as an explosive
growth space, providing compelling investment opportunities. We added MVT
as a portfolio company in July 2008 because its business plan was focused
on the 3D without glasses market.
We are disappointed to report that the founder of MVT chose to leave the
company, and after careful consideration, the remaining management team has
made a decision to dissolve the company. UCM assisted the remaining MVT
management in filing a lawsuit against the founder and is awaiting final
judgment.
Now the great news... out of the ashes has arisen a significantly better
3D company with exceptional management and talent. I am very pleased to
announce our newest portfolio company, Incredible 3D. The company is being
led by Jean McCormick, Emmy award winning producer and Harvard Business
graduate with extensive management experience in media.
On November 3rd, BF V Acquisitions, a public, non-trading shell, signed a
management agreement with UCM. BF V will lead by Jean McCormick, President
and CEO. BF V will soon become Incredible 3D. Jean has already focused
the company's business plan on three top priorities which offer the fastest
track to revenue and profitability. Over the course of the next several
months we expect Incredible 3D to announce key partnerships, contracts,
and investment opportunities.
The Universal Team is excited about Incredible 3D's potential of becoming
the dominant player in 3D without glasses content production and
distribution. This is the right opportunity with the right team at the
right time. Please feel free to contact us if you want more information on
Incredible 3D.
About Universal Capital Management, Inc.
Universal Capital Management, Inc. is a publicly traded business
development company under the Investment Act of 1940. Its purpose is to
provide an opportunity for its shareholders to diversify risk by investing
in a fund that assists its portfolio companies to grow and increase in
value. Please refer to the company's website at http://www.unicapman.com.
Forward-Looking Statements
The information contained in this press release may contain
"forward-looking statements." You can identify these statements by use of
the words "may," "will," "should," "plans," "explores," "expects,"
"anticipates," "continue," "estimate," "project," "intend," "believe," and
similar expressions. Forward-looking statements involve risks and
uncertainties that could cause actual results to differ materially from
those projected or anticipated. These risks and uncertainties include, but
are not limited to the following which could affect Universal Capital
Management, Inc. or one or more portfolio companies: general economic and
business conditions, effects of continued geopolitical unrest, competition,
changes in technology and methods of marketing, delays in completing
various engineering and manufacturing programs, changes in customer order
patters, changes in product mix, continued success in technological
advances and delivering technological innovations, shortages in components,
production delays due to performance quality issues with outsourced
components, and various other factors beyond the Company's control. The
Company assumes no obligation to update publicly or revise any
forward-looking statements.
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