FREAKY FRIDAY PICK VMAX
Friday September 10, 7:30 am Eastern Time
Company Press Release
The Money Market Inc. Acquires the
Accounts of Jeffersonville, Indiana
Competitor
The Money Market Inc. Boasts Increased Growth and Profitability
CHICAGO--(BUSINESS WIRE)--Sept. 10, 1999--Sonoma Financial Corporation/VictorMaxx Technologies, Inc. (OTCBB: VMAX or VMAX.OB) announced today that their recently acquired
subsidiary The Money Market Inc., has purchased the outstanding accounts of a competitors Jeffersonville, Indiana location. The transaction will increase The Money Market Inc.'s Jeffersonville customer base by 69%, financial terms of the transaction were not disclosed.
Since implementing Sonoma Financial Corp.'s business philosophy in late May of 1999, The Money Market Inc. has shown significant growth; stores accounts have grown 23%, the chains revenues have increased by 30% and profitability soared 30% (Not including the purchased accounts).
``By consolidating the accounts of one competitor in Jeffersonville, we've established a very strong presence there with a much higher degree of customer service. We now have a solid base in which to further expand our Indiana operations,' said Frank Anthony Contaldo CEO of Sonoma
Financial Corp.
Sonoma Financial Corporation is a financial services company that owns and operates a chain of stores devoted to providing low documentation, short-term consumer loans. The company intends to become the national leader in the ``Payday Loan' market by strategically opening new stores,
penetrating new markets and by chain acquisition. Sonoma Financial is currently the only publicly traded company with a sole focus on 'payday advances'. Ace (NASDAQ:AACE - news) and First Cash Financial Services (NASDAQ:FCFS - news), have proven the viability of the concept in other markets, but are not specifically focused in this area. A complete investor package is available at e-relations.com .
Safe Harbor Disclaimer:
This release may contain certain forward-looking statements regarding the Company's expected
performance for future periods, and actual results for such periods may materially differ. Such
forward-looking statements involve certain risks and uncertainties, including but not limited to risks
of changing market conditions in the overall economy and the industry, consumer demand,
additional financing requirements, the opening of new stores, the success of the Company's
acquisition strategy and other uncertainties detailed in the Company's filings with the Securities and
Exchange Commission.
Contact:
Sonoma Financial Corporation/
Victormaxx Technologies, Inc.
Company Contact:
Frank Anthony Contaldo, 847/884-7795
or
Investor Relations:
Wayne Schumacher, 773/227-3910 |
