Zealous Changes Name, Will Sell Off Adult Assets

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.

Related:  

Copyright © 2024 Adnet Media. All Rights Reserved. XBIZ is a trademark of Adnet Media.
Reproduction in whole or in part in any form or medium without express written permission is prohibited.

More News

Justices Alito, Thomas Invoke Victorian-Era Morality Law, Raising Censorship Concerns

Several national publications reported this week on widespread concern among Free Speech advocates after U.S. Supreme Court Justices Samuel Alito and Clarence Thomas repeatedly invoked during a hearing the infamous segregation-era law the Comstock Act, which was the cornerstone of U.S. censorship of sexual material from the 1870s until the 1970s.

LELO Launches 'Masturbitter' Craft Beer to Promote Male Sex Talk

LELO has partnered with Great Beyond Brewing Company to launch Masturbitter, a craft beer, to encourage men to discuss sex.

Skinfluential Management's FansFuel Acquires Fanwire

FansFuel has acquired creator account management tool Fanwire.

Nebraska AV Bill Moves Forward Despite Privacy, Free Speech Concerns

Nebraska’s unicameral Legislature has given first-round approval to LB 1092, the state’s version of the age verification bills being sponsored around the country by anti-porn religious conservative activists.

AEBN Celebrates 25th Anniversary

The Adult Entertainment Broadcast Network (AEBN) is celebrating its 25th year in business this week.

Performers in Meta Blacklisting Lawsuit Seek to Preserve Antitrust Claims

Adult Performance Artists Guild board officers Alana Evans, Kelly Pierce and Ruby have informed a California court that, although they want to drop their lawsuit claiming that Meta conspired with OnlyFans to blacklist rival premium fan platforms’ talent, they may still pursue antitrust claims in the future.

Xgen Now Shipping ZOLO's 'Stroke Off' Collection

Xgen Products is now shipping the Stroke Off collection of 11 handheld strokers and four masturbators modeled after lifelike body parts.

Nobü Unveils 'Gyrä' Vibrating Grinding Pad

Nobü has introduced the new Gyrä vibrating grinding pad.

Orion Introduces New 3-Motor Vibrator From 'Sweet Smile' Line

Orion Wholesale has debuted the new three-motor RC G- & P-Spot Vibrator from its Sweet Smile line.

C1R Debuts 'Vers' Suction Dildo, Butt Plug

C1R has introduced its new Vers liquid silicone suction dildo and butt plug.

Show More