(BSNS WIRE) Diversified Resources Group, Inc. Announces Details of 1998 Audited Financials
Business Editors
SARASOTA, Fla.--(BUSINESS WIRE)--July 30, 1999--DRG, Inc., d/b/a
Diversified Resources Group, Inc., (NASDAQ OTC BB:DRGI), a Sarasota,
Florida based company, announces additional details of its 1998
Audited Financials.
To ensure complete clarification of the 1998 audited financials,
as referred to in the press release dated July 28, 1999, the Company
is providing the entire 1998 audited financial information on its web
site @ www.diversified-resources.com. Pertinent details of the audited
information are as follows.
The Company announced its emergence from Chapter 11
reorganization on July 13, 1999.
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Total Assets: $ 42,576
Total Liabilities: $ 485,134
Loss from operations: ($ 708,637)
Net sales: $ 17,273
Loss before reorganization items: ($ 689,227)
Reorganization Items (Gain from
restructuring debt obligations): $5,956,183
Net Income after restructuring
debt obligations: $5,266,956
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A complete copy of the 1998 audited financials will be available
at the company's web site located at www.diversified-resources.com by
no later than Monday, August 2, 1999.
The McGladrey Network should not be confused with McGladrey &
Pullen, the world's 6th largest accounting firm. The Company's
auditors, Jones, Jensen & Co. are members of the McGladrey Network.
This press release shall not constitute an offer to sell
securities under an exemption from registration pursuant to Regulation
D, Rule 504 of the Securities and Exchange Commission. Statements
regarding the company's expectations about new and exciting products,
future financial performance and other forward looking statements are
subject to various risks and uncertainties, including, without
limitation, demand and acceptance of new and exciting products,
technological advances and product obsolescence, competitive factors
and the availability of capital to finance growth.
Log on to www.diversified-resources.com
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CONTACT: Diversified Resources Group, Inc., Sarasota
Carl Smith, III
941/923-1949
www.diversified-resources.com |
