Providential Holdings Assists ZeroMicron in Growth Strategy
Transaction to Add Significant Value for Both Companies HUNTINGTON BEACH, CA - MARKET WIRE - 01/27/05
Providential Holdings, Inc. (OTC BB: PRVH) (Berlin: PR7) (WKN 935160), www.phiglobal.com, through its wholly owned subsidiary, Providential Capital, Inc., has entered into an agreement to provide merger and acquisition advisory services to ZeroMicron, Inc., a California corporation (www.zeromicron.com). This transaction is expected to add revenues for the Company in form of consulting income and equity ownership.
Providential will provide turnkey solutions to assist ZeroMicron in refining its growth strategy to increase shareholder value for both companies. ZeroMicron intends to execute a business combination plan to become a fully reporting publicly traded company in the near future with the Company's assistance. In addition, the Company will arrange a minimum of $5 million funding for ZeroMicron to grow its business.
About ZeroMicron:
As an R&D company in wafer polishing technology, ZeroMicron has been in business for 4 years in the CMP (Chemical-Mechanical Processing) market. As significant advancements in the semiconductor industry demand new technologies to be developed, the company holds many technology patents for both commercial and defense arenas. Its application template designs are pervasive in several industries, such as manufacturing components for medical, aero-space, military, optical network, computer disk media, and communication devices that require close control of tolerance, thickness, flatness, parallelism, and finishing surface. Their design can fit on any existing polishing equipment with superiority in speed, temperature, pressure and uniformity.
ZeroMicron is a superior R&D player in its field. The company has constant profit and revenue growth since its inception. As a wafer polishing specialist in the global wafer processing playground, ZeroMicron has obtained product acceptance by several semiconductor power houses and assisted in the development of environment-friendly thin wafer production. Oftentimes, its products exceed all current SEMI standards by at least 30%, offer yield increase, ease production planning, and down-time reduction up to 40% while eliminating costly catastrophic blowouts and wipeouts that are currently traumatizing the silicon wafer polishing.
According to Francis Nguyen, President of ZeroMicron, with "ZM Exact Production Formula" (EPF), its templates and gears can be customized to specific applications and can also be designed to process different shapes and sizes of materials. ZeroMicron products have achieved 100% yield for the wafer polishing industries versus the current typical yield of 60%. Michael Smith, VP of sales, expects a substantial increase in sales revenue in 2005 from its innovative products.
For further information about ZeroMicron, please visit www.zeromicron.com.
About Providential:
Providential Holdings (www.phiglobal.com) and its subsidiaries engage in a number of diverse business activities, the most important of which are M&A advisory services, cutting tools, and international markets. The Company acquires and consolidates special opportunities in selective high-growth industries to create additional value, acts as an incubator for emerging companies and technologies, and provides financial consultancy and M&A advisory services to U.S. and foreign companies.
This news release contains forward-looking statements that are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of such forward-looking statements. Such forward-looking statements are made based upon management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995.
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