“AEC will be the first BDC ever to focus purely on the adult industry, which has been largely shut out by Wall Street firms,” said Milton C. Ault III, Chairman and CEO of Adult Entertainment Capital.
The company also expects to be dually listed on a European stock exchange before the end of the year.
On Aug. 25, AEC announced an agreement to acquire cable pay-per-view service ComedyNet, which is available to 19 million homes through most major cable operators. On Sept. 5, AEC acquired Southern California streaming adult media outlet Rock Candy Entertainment. Rock Candy Entertainment offers nine streaming video sites including MonsterTubers.com.
AEC is currently involved in negotiations for a majority stock purchase of Internet Lending Group and its subsidiary, ILGBill, with an intention ILG keeping management power after the transaction has concluded. Internet Lending Group services include mediation; collections; lending and factoring for merchants; group purchasing organization; risk management tools; and processing and direct lending for consumers. ILG discerns the value of illiquid assets from their various data mining efforts and the resulting statistical analysis of that data. ILG also provides Credit Card processing through ILGBill.
AEC also has announced the procurement of a telecom call center with more than 4,000 phone lines which can serve as a collection center and studio to provide live adult telephone entertainment.
Adult Entertainment Capital has announced its intention to announce more portfolio investments in the adult industry before the end of October.
For more information, visit the Adult Entertainment Capital website.