The following news release spells out what the CEO of the company thinks. Unless she likes putting her neck in a noose, these statements are quite strong. Big problems for chief executives of public companies that fabricate numbers and phoney contracts.....
FORT WORTH, Texas--(BUSINESS WIRE)--March 13, 1998--21st Century
Pat Wilson, CEO of TEXN, stated: "We have found that our 3-dot multicolor night sight is
superior in low-light or no-light situations. Law enforcement prefers our night sights over the
competition's single-color format. We are American-owned, and the night sights are made
right here in Texas. We're proud of what we have accomplished in the last two years."
Licensed by the Nuclear Regulatory Commission to import "tritium," a radioactive isotope
that glows, Wilson is the company's nuclear regulatory safety officer, as well as its CEO.
TEXN is currently trading at 18 cents per share, with 19 million shares outstanding. The
market capitalization of TEXN is $8,120,000. Daily trading volume averages 80,000 shares
per day. With only 9 million shares in the float, the value of TEXN shares has risen in the
last nine months from 4 cents a share to a high of 20 cents a share.
At Friday's price, TEXN shares have increased more than 400 percent. "We anticipate
pretax profits in 1998 to exceed $2,499,783, based upon the sale of 166,209 units, with
earnings projected at 13 cents per share," stated Wilson.
Sales momentum in the PT Night Sights has grown following the February 1998 Shot Show
in Las Vegas. TEXN sells directly to law enforcement agencies and provides manufacturing
to OEMs in the United States and abroad.
Financial statements in this news release other than historical facts are "forward-looking"
statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of
the Securities Exchange Act of 1934, and as that term is defined in the Private Securities
Litigation Reform Act of 1995. The company intends that such statements about its future
expectations, including future revenues and earnings, and all other forward-looking
statements (i.e., future operational results and sales), involve risks and uncertainties and are
subject to change at any time. The company's actual results could differ materially from
expected results.
Pro Forma Actual Actual
1998 1997 1996
Gross revenue, 12 months $6,000,000 $1,200,000 $ 247,735
12-month earnings $2,499,783 $ 57,143 $ (458,117)
Weighted average shares 19,000,000 14,500,000 12,500,000
12-month earnings per share $ 0.13 $ (0.004) $ (.037)
NOTE: The 1997 and 1996 figures are based on the company's tax
returns, but are not audited. Pro forma figures are based on actual
orders placed with the company, as well as commitments for orders
from 16 law enforcement and military customers for delivery in
fiscal year 1998.
CONTACT: 21st Century Technologies Inc.
Pat Wilson, 800/334-3573
or
Princeton Research of Nevada Inc.
John Dolkart, 702/251-7163
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