Zealous Trading Group, Inc. Signs on Approximately $5 Million of New Financing

10-22-2007 08:59 AM EST

Zealous Trading Group, Inc. Signs on Approximately $5 Million of New Financing Company's Main Focus Remains New Alternative Trading Platform, "ZATS"

NEW YORK, Oct. 22 /PRNewswire-FirstCall/ -- Zealous Trading Group, Inc. , formerly known as Atlantic Syndication Network, Inc. (the "Company"), announced that on October 17, 2007, it executed definitive agreements on a $4.275 Million round of financing. The transaction was arranged by Empire Financial Group, Inc. (EFH-AMEX).

The financing consisted of 5% Senior Secured Convertible Debentures due in one year, convertible into shares of common stock of the company and secured by its assets. The investors also received warrants and registration rights.

The funds will be deployed in expediting the development of the second generation release of the Zealous Alternative Trading System, "ZATS". The ZATS trading platform, information on which can be found at www.zealousats.com, is an alternative trading system for restricted and illiquid securities.

"This financing presents Zealous Trading Group an extraordinary opportunity to serve the restricted securities marketplace by bringing liquidity and automation to what has historically been an opaque and fragmented trading environment," said Milton "Todd" Ault III, CEO and President of Zealous Trading Group.

Zealous Trading Group also announced that on October 1, 2007, the Company closed an earlier round of financing totaling $747,500 and that the Company arranged the financing on its own.

About Zealous ATS, LLC

Zealous ATS, LLC (Alternative Trading System) or "ZATS" plans to be a global electronic marketplace used to support and execute trades for buyers and sellers of restricted and illiquid securities.

The ZATS system has been tested and used successfully for over 18 months with a major NYSE financial institution, trading a single stock under Rule 144a. Now, ZATS has been rolled out to a limited number of users, providing them the ability to trade restricted stock and illiquid securities of approximately 400 public and private company securities on a negotiated basis.

The next generation of ZATS, now under development, will offer an integrated electronic platform for the trading of alternative assets globally. The ZATS marketplace will be a global community of trading counter-parties. The intention is to provide an infrastructure on which to optimize the investment and trading strategies for participants.

It will combine an open trading platform with an automated documentation, escrow, transfer and settlement support. ZATS brings technology to the cumbersome, fragmented and paper intensive transaction process for the primary offering and secondary trading market for: PIPE offerings (private investment in public equity); warrants; domestic and international private equity offerings; rule 144a equity securities; restricted stock of public companies; block sales of thinly traded non-NMS registered stock; limited partnership offerings and secondary LP interests; structured equity and debt products including emerging markets, illiquid bond, loans and equity.

It will bring buyers and sellers together seamlessly and anonymously creating a more liquid, fluid centralized marketplace. Users will include: hedge funds; domestic and foreign Broker-Dealers, registered investment advisors; domestic and foreign issuers; accredited individuals; family offices; mutual funds; attorneys and accountants; corporate insiders; affiliates; minority stakeholders; private equity and venture capital funds; real estate syndicates; and third party marketers.

About Zealous Trading Group, Inc.

On July 16, 2007, the Company entered into an Agreement and Plan of Merger with its wholly-owned subsidiary, ASNI II, Inc., a Delaware corporation ("ASNI-II") and Zealous Holdings, Inc., a Delaware corporation ("Zealous"). The Merger Agreement provides that, upon the terms and subject to the conditions set forth in the Merger Agreement, Zealous will merge with and into ASNI-II, with ASNI-II as the surviving corporation of the merger (the "Merger"). As a result of the Merger, Zealous will become a wholly-owned subsidiary, through which our operations will be conducted.

Zealous Holdings, Inc. owns Zealous ATS through its subsidiary Zealous Capital Markets, LLC, a Delaware corporation and registered Broker-Dealer.