Free and Clear Foundations of America, Inc. Acquires Penny King Holdings Corporation

The Free and Clear Foundations of America, Inc. announced it has acquired 100% of the voting stock of Penny King Holdings Corporation by way of a donation from its Founder.

Washington D.C. The Free and Clear Foundations of America, Inc., (FCFA), a Washington D.C. based not for profit organization has announced it has acquired 100% of the voting stock of Penny King Holdings Corporation (PKH) by way of a donation from its Founder.

Previously, the Washington based organization held 50% of PKH which had been donated by its organizers in 2000. The remaining 50% of the authorized and outstanding shares of PKH were donated on January 28th, 2003. The FCFA has chosen to announce this event prior to year end as it gears up to launch the Free and Clear America Campaign in 2004.

The FCFA is the exclusive sponsor of the Penny Appreciation Fund, The International Bank Activities Reform Commission, The Free and Clear Policy Institute, The Free and Clear Press Corps and Zero Interest Mortgage Program.