IBUI news,
LAS VEGAS--(BUSINESS WIRE)--July 6, 1999--Internet Business's
International Inc. (OTC BB:IBUI)(www.inbusin.com) Tuesday announced
that the company has earned a profit in the fiscal year ended June 30,
1999.
"We aren't releasing the exact dollar amount of the profit
pending review by our auditor," said Albert Reda, chief executive
officer, "but the main thing is that the company has achieved
profitability in its first year following reorganization and
repositioning as an Internet related enterprise.
"Being in the black puts us in a pretty exclusive club as far as
Internet businesses go. We did a quick check and could only find a
handful in a similar situation, and those companies are household
names. I'm more than pleased that IBUI is breathing that rarified
air."
Reda attributes the success to bare-bones overhead.
"You won't find anything gold-plated around here. We didn't have
the luxury of fat donations from venture capitalists, so we've taken
the minimalist approach," said Reda. "I'm glad to see that all the
belt-tightening has paid off on the bottom line."
The company's annual shareholders' meeting is set for this
Friday, July 9th, 1 p.m. Pacific Daylight Time. Internet enabled
shareholders will be able to view the proceedings and participate by
logging on to the company's Web site located at www.inbusin.com.
Internet Business's International is a Delaware corporation with
headquarters in Newport Beach, Calif. Its shares trade on the OTCBB
under the ticker symbol IBUI.
Statements in this news release may contain forward-looking
information within the meaning of Section 27A of the U.S. Securities
Act of 1933 and Section 21E of the Securities and Exchange Act of
1934, and are subject to the safe harbor created by those sections.
All statements, other than statements of historical fact, included in
this release, including, without limitation, statements regarding
potential future plans and objectives of Internet Business's
International Inc. are forward-looking statements that involve risks
and uncertainties. There can be no assurance that such statements will
prove to be accurate and actual results and future events could differ
materially from those anticipated in such statements. Internet
Business's International Inc. assumes no obligation to update
information contained in this release. |
