Home > News > Zealous Changes Name, Will Sell Off Adult Assets • Bookmark   • Newsletters   • Register Search Options

NEWS STORY

Zealous Changes Name, Will Sell Off Adult Assets

Zealous Changes Name, Will Sell Off Adult Assets
Get XBIZ News
Aug 27, 2010 4:15 PM PDT    Text size: 
LOS ANGELES — Zealous Inc. has changed its corporate name and plans to shed its assets that have adult industry ties, XBIZ has learned.

Zealous will now be known as CoreStream Energy Inc., and the company seeks to broaden its ventures to include gas and oil exploration and development.

The latest announcement comes after Milton (Tod) Ault resigned as its CEO, chairman of the board and president. Ault still owns 23 percent of the company's shares.

Up until November 2008, the company operated under the moniker Adult Entertainment Capital Inc.

For years, it has published adult nightclub magazine Stilletto, operated TheAdultSpot.com and distributed nutraceutical drinks RockHard Weekend and Surge.

The company in a statement said it is "pursuing opportunities to drill in areas with proven reserves and to purchase existing production with large geological offset opportunities."

The company also said it plans on divesting its non-gas and oil assets over the next several months.

"A few offers are pending for [RockHard Weekend and Surge] and management is working on determining the best path for the company," the company said in documents obtained by XBIZ.

"[TheAdultSpot] is in negotiations to be sold to a third party while Ault has been retained as a consultant to help liquidate the remaining assets to the benefit of the company's creditors and investors."

Last year, the company had a net loss of $5.9 million, according to documents obtained by XBIZ.

XBIZ calls for comment to newly installed CEO Chris Rainbolt and former CEO Ault went unreturned at post time.

More ways to get XBIZ News:  RSS Feeds  |  E-Newsletters  |  Desktop Widget  |  Mobile
Looking for porn star news and behind-the-scene videos? Check out XFANZ.com !

EDUCATIONAL FEATURES

Understanding 'Camming Sociology' Can Enhance Interactions

After working for six years in the live cam industry as a cam model and almost double the amount of time studying — while working simultaneously — how relationships work in cyberspace, I am... More »

Proper Fisting Techniques for Gentle Stimulation

Does the phrase “anal fisting” make your sphincter clench in terror? Does it seem like an urban legend or an extreme party trick? Most people scoff at the idea of trying it because it sounds... More »

Camming Games, Contests Keep Customers Engaged

Last issue, I talked about the importance of changing up the ambience in a cam model room via new décor and small visual tweaks, to keep viewers engaged long-term. This time, I’d like to discuss... More »
XBIZ NEWSLETTERS
Stay informed of the latest industry developments. Get XBIZ newsletters delivered to your inbox. Subscribe today!
Enter email address:

* To manage existing subscriptions click here.






POPULAR PRODUCTS & SERVICES
Submit your press release to
multiple news outlets with 1 click.
Subscribe to RSS news feeds or
add free content to your website.
Access XBIZ news and articles
with your mobile device.
Subscribe to XBIZ Premiere magazine, the industry's leading adult retail trade publications, delivering the most timely and comprehensive business news and information to producers and retailers of adult products.

UPCOMING EVENTS

XBIZ Retreat

May 30 - Jun 03
Miami, Florida

XBIZ Miami 2017

May 30 - Jun 02
Miami, Florida

XShow 18+ 2017

Jun 01 - Jun 03
Moscow, Russia

Cam Summit

Jun 02 - Jun 04
Lloret de Mar, Spain
Everyday thousands of business professionals browse XBIZ's industry directory for quality products and services. Not listed yet? Your company could be losing potential new business. Submit your company today!
Use XBIZ RSS feeds to stay informed of the latest industry developments or as a content syndication tool for your website!