Some PFCK news...
Vagabond
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(COMTEX) B: Peacock Financial Files 10-Q: Posts $.01/Share Profit Ver
B: Peacock Financial Files 10-Q: Posts $.01/Share Profit Versus $.02/Share Loss
for Second Quarter; Reports Second Consecutive Profitable Quarter
SAN JACINTO, Calif., Jul 29, 1999 (BUSINESS WIRE via COMTEX) --
PeacockFinancial Corp. (OTC BB:PFCK) announced that it has filed the
Company's Form 10-Q with the Securities and Exchange Commission for the
second quarter ended June 30, 1999.
Selected results for the quarter reported that Peacock Financial earned
net, after tax, income of $190,053 or $.01 per share compared with a
net loss of $345,000 or $.02 per share for the quarter ended June 30,
1998.
Peacock President Steven Peacock, stated, "The second quarter's results
are significant in that not only did we produce a bottom line profit,
but were able to reduce corporate debt and operating overhead by
approximately $475,000." Also significant is the fact that this is the
second consecutive quarter the Company has posted positive earnings.
Substantially all of the revenues for the period were derived from a
restructuring of the Company's investment in San Diego-based Solutions
Media Inc. Solutions Media is an Internet company currently developing
Spinrecords.Com. Spinrecords.Com is an online music e-commerce Web site
similar to MP3.Com (NASDAQ:MPPP) which recently went public.
Peacock Financial owns 800,000 shares of Solutions Media's common stock
and is intending to dividend a portion of these shares to its
shareholders in the near future, prior to an intended IPO. A record
date for this action has not yet been established.
Peacock Financial is a fully reporting investment holding company
registered with the SEC as a Business Development Company under the
Investment Act of 1940. Current holdings include investments in Real
Estate, and in Investment Banking, specializing in professional sports
and the Internet.
Copyright (C) 1999 Business Wire. All rights reserved.
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CONTACT: Peacock Financial Corp.
Steven Peacock, 909/487-8911
peacockfinancial.com
or
Stock Enterprises
Jim Stock, 702/614-0003, Investor Relations
WEB PAGE: businesswire.com
GEOGRAPHY: CALIFORNIA
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