Chronicle Communications, Inc. Turns Four Years Young Today
(BusinessWire, 04/5/2000 11:49)
TAMPA, Fla.--(BUSINESS WIRE)--April 5, 2000--Chronicle Communications Inc., (OTCBB:CRNC), (http://www.chronicleinc.com) announces it turned four years young today.
Chronicle Communications, Inc. was incorporated on April 5, 1996 under the name JMAR Communications Inc., a Georgia Corporation.
The Company began as a publisher of small hometown shopper newspapers and has evolved into an exciting provider of Internet Programming Solutions, Web-Hosting, and Commercial Web Offset Printing and operates a specialty publishing business. In 1996 the Company began with seven employees operating out of the living room of the founder's home. Today, the Company has nearly 50 employees and operates from a 32,000 sq ft, Class "A" facility located in Tampa, Florida.
On the financial front the Company has nearly a half million dollars in the bank, has eliminated virtually all litigation and is current with all trade vendors. The Company's fixed assets now exceed $3,000,000. In contrast to our financial position at the close of our first fiscal year, September 30, 1996, with fixed assets amounting to only $49,070 and a bank overdraft of $12,611.
"After four years of up's and down's the Company is now in full stride. Since going public, our trading volume has increased from an average of 20,000 shares daily to over 2,500,000 shares. Revenue expectations are great and we look forward to reporting on our next anniversary the results of our first year operating as a technology company. I would like to thank all of the shareholders and market professionals who have assisted us with our tremendous successes and all the employees who continue to demonstrate their dedication to the Company," said John V. Whitman Jr., CEO/Chairman and Founder.
Special Note: Management believes certain statements in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are made on the basis of management's views and assumptions regarding future events and business performance as of the time the statements are made. Actual results may differ from those expressed or implied. Such differences may result from actions taken by the company prior to its current fiscal year end, as well as from developments beyond the company's control, including changes in global economic conditions that may, among other things, affect the performance of the company's anticipated acquisitions or future business. In addition, changes in domestic competitive and economic conditions may also affect performance of all significant company businesses.
CONTACT: Chronicle Communications Inc., Tampa
David E. Salmon, Investor Relations Officer
813/630-2762 |
