This thread devoted to NR's that you think are exciting. No DD required but some basic stuff would be good.
I have two this morning this one just out. The company has 13.8 million shares and is trading at ~.70 giving market cap of under $10 mil. AXA-T
QUARTERLY REVIEW - REVENUE INCREASE $7,705,000 VIS A VIS 938,000 - INCREASE OF OVER 700%
STRATFORD, Ont., May 6 /CNW/ - Alexa Ventures Inc. (Alexa) is pleased to
announce that after a period of rigorous restructuring and self discipline of
focus, its corporate strategy is working. Growth through acquisition and
internal sales has been accomplished while maintaining profitability.
During the second quarter, Alexa has completed two acquisitions namely
the purchase of a 53% interest in K-Troniks Inc. (K-Troniks) and a 60%
interest in Chakers, Inc. (Chakers).
K-Troniks is a North American distributor of electronic ballasts with a
manufacturing facility in South Korea. K-Troniks has a full range of
electronic ballasts including niche models that attract above average gross
margins. Robert Kim, the president of K-Troniks, has enjoyed success for
previous ballast manufacturers building their sales to $15,000,000US within 24
months and is well regarded in the industry.
Chakers is a distributor of computer peripherals based in Los Angeles,
CA. Chakers distributes product for major electronic manufacturers and sells
these peripherals to customers that include Xerox, Hewlett Packard Inc.,
Silicom Multimedia Systems Inc., and Ingram Micro Inc. During calendar year
1997, Chakers enjoyed sales of $108,000,000 with a significant portion being
in the last 4 months due to the seasonability of their business.
Second quarter year to date sales increase of 350% from $1,978,000 to
$8,904,000 reflect the beginning of the implementation of Alexa's acquisition
strategy. K-Troniks and Chakers will stabilize Alexa's energy efficient
lighting retrofit business through efficient vertical integration.
Alexa, during the second quarter, has maintained profitability and a
positive operating cash flow at $98,000 and $585,000 respectively.
Alexa is extremely proud of its ability to attract the top flight
management found at K-Troniks and Chakers and look forward to a prosperous and
rewarding relationship in the years to come.
DIRECTORS OF ALEXA VENTURES INC.:
(Signed)
G.A. Racicot
Chief Executive Officer
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