News on VMAX
February 09, 2000 10:14
Sonoma Financial Announces First Quarter Expansion
Plans; Sonoma To Further Indiana Expansion as Well as
Enter New States
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CHICAGO--(BUSINESS WIRE)--Feb. 9, 2000--Sonoma Financial Corporation/VictorMaxx
Technologies, Inc. (OTCBB:VMAX) one of the largest payday advance operators in the
greater Chicago area, released plans today for further store expansion into other states.
The Company will seek to incorporate an independent subsidiary to operate "Payday
Stores" in each state thereby capitalizing on awareness of the local markets.
"We have developed the infrastructure that will allow rapid growth and are planning to
expand by acquiring existing payday operations in neighboring states. Currently, we are
evaluating and negotiating on several opportunities and hope to update shareholders
shortly." said Frank Anthony Contaldo, CEO of Sonoma Financial Corp. He continued, "We
believe growth through acquisition is critical to implementing our plans for increasing
revenue."
A complete investor package for Sonoma Financial is available at
e-relations.com
About Sonoma Financial Corporation
Sonoma Financial Corporation operates three subsidiaries, two of which focus on consumer
lending and one is a collection agency. Payday Check Advance, Inc. and Money Market, Inc.
are financial service companies that operate a chain of stores devoted to providing low
documentation, short-term consumer loans. Sonoma intends to become the national leader
in the "Payday Loan" market by strategic acquisition and penetrating new markets. E-star
Systems, Inc., is an industry specific collection service addressing the needs of the
short-term loan industry. Sonoma Financial is currently the only publicly traded company
with a sole focus on 'payday advances'. Ace (NASDAQ:AACE), First Cash Financial Services
(NASDAQ:FCFS) and Pinnacle Business Management (OTCBB:PCBM), have proven the
viability of the concept in other markets, but are not specifically focused in this area.
American Nortel Communications (OTCBB:ARTM) a shareholder.
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.
Frank Anthony Contaldo, 847/931-9218
or
Investor Relations
Wayne Schumacher, 773/227-3910
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