Opinions needed on local startup company.
There's a local company to me which just started up a short while ago. It used to be Morrow Snowboards. Now their name is Granite Bay Technologies. Trading right now on the pinks as GBAY. $4 - $5 range. Have put in a ton of filings recently and I believe are looking to get listed on Nasdaq. The FreeEdgar link is freeedgar.com
I'd be interested in your opinions on this one.
Thanks,
Orygun
This is the only press release they've put out yet.
Granite Bay Technologies Receives More Than $4 Million in New Purchase Orders
Company Press Release
Granite Bay Technologies Receives More Than $4 Million in New Purchase Orders
SALEM, Ore.--(BUSINESS WIRE)--Feb. 25, 2000--Morrow Snowboards, Inc., (Pink Sheets: GBAY), doing business as Granite Bay Technologies ("Granite Bay"), today said its wholly-owned subsidiary, International DisplayWorks, Inc. ("IDW"), had received more than 4 million in new purchase orders for its LCD displays and modules from Qualcomm, Inc. (Nasdaq NMS), a significant player in the worldwide market for personal communication devices, and from Ecowater Systems, a US-based manufacturer of water softeners for such leading brands as Kenmore and General Electric.
The company also said IDW has received strong initial responses from prospective customers since acquiring its LCD manufacturing facilities in the People's Republic of China earlier this year. Several of these prospective customers are actually former customers of the factory's previous owners.
"I am pleased and excited by the enthusiastic response we have received from both current and prospective customers since completing the acquisition", said Tony Genovese, CEO of IDW. "Management believes that sales revenue has stabilized and will increase steadily now that the factory is operating outside of Judicial Management."
Investors seeking more detailed background information should read various Forms 8-K filed by Granite Bay dealing with its departure from the snowboard and apparel business and with its subsequent entry into the technology arena. In addition to the acquisition of IDW, Granite Bay recently made a strategic investment in Globalgate e-Commerce, Inc., a provider of turnkey e-commerce infrastructure to small and mid-size businesses.
Granite Bay intends to release financial results for its fiscal year ended January 1, 2000 by the end of March. Financial results relating to the acquisition of IDW will begin with the filing of the company's Form 10-Q ending in March, 2000, as the acquisition occurred on February 1, 2000. The first full quarter of activity will be reported in the company's Form 10-Q for the second quarter ending in June, 2000.
For further information contact Steve Kircher at 916-782-5522 or Blair Mullin at (503) 315-1119.
The statements contained herein, other than historical information, are or may be deemed to be forward looking statements and involve factors, risks and uncertainties that may cause the Company's actual results in future periods to differ materially from such statements. These factors, risks and uncertainties include the relatively short operating history of the Company market acceptance and availability of new products, rapid technological change affecting products sold by the Company the impact of competitive products and pricing possible delays in the shipment of new products and the availability of sufficient financial resources to enable the Company to expand its operations.
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Contact:
Granite Bay Technologies
Steve Kircher, 916/782-5522 (Chairman)
Blair Mullin, 503/315-1119 (President) |
