Cyclopps press release:
(Apparently Stoddard has cut most of the staff to try to stay afloat till something happens with the Navy - Bernard).
biz.yahoo.com
Wednesday July 14, 8:02 am Eastern Time
Company Press Release
Cyclopss Reports Profit in First Quarter Results
SALT LAKE CITY--(BW HealthWire)--July 14, 1999--Cyclopss Corp. (OTC BB:OZON - news) released results from operations for the first quarter ended May 31, 1999.
The company recorded its first ever profit of $54,921, or $.003 per share on 18,115,669 weighted average shares outstanding for the three months ended May 31, 1999. This compares with a net loss of
$874,508, or net loss per share of $.05 per share reported for the same period last year on 16,013,295 weighted average shares outstanding.
Net revenues for the three months ended May 31, 1999, were $316,732 compared to $323,391 for the three months ended May 31, 1998.
Three of the company's wholly-owned subsidiaries -- Eco-Pure Food Safety Systems Inc., Cyclopss Textile System, and Cyclopss Biochemical Corp. contributed to the company's gross revenues for this
period. (Eco-Pure $111,535; Textile $96,764 and Biochem $108,433)
Throughout last year, management has taken aggressive measures in reducing its operating costs. As a result of these actions, research and development costs were reduced by 100 percent from $114,822 in
first quarter 1998 to zero in first quarter 1999, and marketing costs were reduced by 100 percent from $110,159 in first quarter 1998 to zero in first quarter 1999.
General and administrative expenses were reduced by 84 percent, from $553,064 for the three months ended May 31, 1998 to $86,919 for the three months ended May 31, 1999.
This extensive cost saving was due primarily to a reduction in management and administrative personnel, and to the cancellation of significant investor and public relations spending and activities engaged in during the same first three-month period of the prior fiscal year.
Cyclopss is a world leader in the development of ozone technology and applications for healthcare and food processing industry.
Contact: clopss Corp.
William Stoddard, 801/972-9090
Fax: 801/972-9092 |
