Sonoma Announces a 30% Revenue Increase for February 2000
CHICAGO--(BUSINESS WIRE)--March 29, 2000--Sonoma Financial Corporation/Victormaxx Technologies, Inc. (OTCBB: VMAX) one of the largest payday advance operations in the greater Chicago area, posted a 30% revenue increase for February 2000 versus February 1999. The same store sales for the period were up 11.5% (unaudited).
"This increase," said Terry Donati, President and CEO of Sonoma Financial Corporation, "shows that our store maturation rate is on target, and that all investment in our infrastructure is beginning to bear fruit."
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, 847/836-6685
or
Wayne Schumacher (Investor Relations), 773/227-3910 |
