For the last 18 months, Kingdom
Ventures acted just like a public company.
It won approval from the Securities and
Exchange Commission to raise money
from the public and began reporting its
financial statements and significant corporate
events to the SEC.
Only one thing separated Minden-based
Kingdom Ventures then known as
Legends of the Faith from all the other
public companies in the world: It didn't have
a stock that was publicly traded.
That's not as strange as it seems.
Gene Jackson, the company's founder
and president, explained last week that
the small firm decided to avoid the gyrations
of the market as the dot-com bubble's
collapse was followed in short order
by the post-Sept. 11 downdraft.
Instead of worrying about the price of
their stock, company executives decided
to focus on the business at hand a
product line that ranges from inspirational
gifts and religious apparel to business
promotional items.
Now Kingdom Ventures believes
things have settled down enough for it to
open its stock to public trading.
The company applied to the National
Association of Securities Dealers for a listing
on the over-the-counter bulletin board system.
It hired The Marana Group to handle its
investor relations and public relations. It established
a relationship with Wachovia Securities
to facilitate trading. Its shareholders approved
the name change.
Last week, it was awaiting that stock
symbol that will allow its shares to begin
trading.
While he was waiting, Jackson was
getting the company's newest acquisition
a candle-making firm previously based
in San Jose, Calif. moved into new
quarters at Carson City. The Carson City
plant, he said, should begin production
within a few days.
Legends of the Faith the predecessor
company to Kingdom Ventures was
founded three years ago. Jackson, brought
15 years experience in the commercial
printing industry to the new venture.
In materials the company distributed in
its search for private-placement capital late
last year, Legends of the Faith said its sales
for 2001 were about $1 million. At the same
time, the company said it expected to add
about $2 million of annual revenues from its
purchase of majority interest in Xtreme
Notebooks Inc., an e-tailer of notebook
computers based in Carson City.
Its other products include:
* "iBelieve Bible Software," for which the
company reported sales of 10,000 copies
in its first 30 days on the market. The
marketing of the software focuses on
nonprofit groups that sell it as a
fundraiser.
* "Yahwear," a line of T-shirt, hats and the
like emblazoned with Christian messages
and sold at Christian music festivals.
* Bible character bears, including a "Jesus
Loves Me" bear and keychain. The company
said last year it had sold more than
700,000 of the plush animals. (Along
with his publishing experience, Jackson
once worked as a wholesale distributor
of plush bears.)
* Children's Bible story books.
* Food products such as Noah's Animal
Cookies sold as fundraisers by nonprofit
groups.
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