The following was released today.NEWS RELEASE
For Immediate Release
AMERICLEAN REPORTS FIRST QUARTER
CHARLOTTE, November 11, 1999 – Americlean, Inc. is pleased to report its interim financial statements for the first quarter ended June 30, 1999.
Americlean's revenue for the quarter ended June 30, 1999 was $2,980,923, with gross profit of $858,062. The Company reported a net loss of $407,939 or $0.08 per share.
“We are pleased with the post acquisition integration of Boggs & Company, Americlean's southeast platform business. Americlean/Boggs management has been successful in reducing expenses within the platform while increasing core revenue at Boggs, ” said Andrew Hromyk, Chairman and CEO of Americlean.
First quarter financial statements will be available for viewing at Standard & Poor's Advisor Insight web page www.advisorinsight.com under Market Access further to Americlean.
Americlean has filed a registration statement with the Securities Exchange Commission (SEC) and is currently preparing responses to the SEC comments. Management prepared second quarter statements, ended September 30,1999, will be available November 18th.
AMERICLEAN INC. (OTCBB: AMCX) services the North American dry-cleaning industry, a seven billion dollar annual market that has consistently grown an average rate of 10% each year. The Company has combined the manufacture and supply of dry-cleaning products with an eCommerce and Cash & Carry model eliminating several tiers of distribution that currently exist. Americlean's strategy is consolidating this fragmented industry by supplying its products and services directly to the consumer. Americlean is approved for and published in the Standard & Poor's Corporate Records listings.
Americlean Investor Relations
Toll Free: 1-800-585-0295
Web Site: www.americlean.net
E-Mail: ir@americlean.net
Forward-looking statements and comments herein are made pursuant to safe harbor provisions of the Securities Exchange Act of 1934. Such statements relating to, among other things, the prospects for the company to complete proposed transactions and enhance operating results, are necessarily subject to risks and uncertainties, some of which are significant in scope and nature.
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