(BSNS WIRE) CBQ, Inc. Files 1999 Annual Report On Form 10-KSB
CBQ, Inc. Files 1999 Annual Report On Form 10-KSB
Business Editors
ADDISON, Texas--(BUSINESS WIRE)--April 19, 2000--CBQ, Inc.
(OTCBB:CBQI) The E-Business Marketplace today filed its 1999 Annual
Report on Form 10-KSB for fiscal year 1999 with the Securities and
Exchange Commission.
For the twelve-month period ending December 31, 1999, the company
reported a net loss of $412,144 on revenue of $720,925, less than $.01
per share. That compares with a net loss of $21,579 on no revenue,
less than $0.01 per share, for same period in 1998.
The increase in losses reflects one-time costs incurred by CBQ,
Inc. to either acquire or purchase a substantial position in three
companies during fiscal year 1999.
"1999 was a year of strategic growth and transition and the
company was working to absorb its acquisitions," said John Harris,
CEO, CBQ, Inc. "The addition of ChinaSoft and the efforts we have made
to seed opportunities in China will begin to show returns in 2000 and
beyond. We are grateful to the many people that have supported CBQ
through this transition, recognizing the long-term value of preparing
for outstanding e-business opportunities in China."
Due to volatility particularly in the high-tech sectors of the
stock markets, CBQ, Inc. has temporarily withdrawn its application for
NASDAQ Small Cap Listing and will turn its full attention to pending
Chinese business ventures.
CBQ, Inc. recently announced that it is acting as Chung Hua
Wireless Internet's agent, actively seeking companies from outside
China that wish to supply equipment for building a wireless Internet
network in southern China. Chung Hua Wireless Internet is a
wholly-owned subsidiary of Wanlitong Information Network of Shenzhen,
China.
About CBQ, Inc.: CBQ, Inc. The E-Business Marketplace is a total
end-to-end provider for implementing customer driven e-business
solutions. Through its subsidiaries, Reliance Technologies, Inc. and
Priority One Electronic Commerce Corp., it can design, implement,
host, build traffic and process payments for its customers' e-business
initiatives. ChinaSoft, Inc. is a wholly-owned subsidiary of CBQ, Inc.
that is a joint-venture partner with CCSoft Technology Developing,
Ltd. (formerly, Beijing Zhongruan Zhixun Technology Developing Co.).
Services include Software Development for Enterprise computing and
Internet Development. For more information about CCSoft, visit
www.ccsoft.com.cn. China Partners, Inc. is a wholly-owned subsidiary
of CBQ, Inc. that focuses on facilitating trade and investment
opportunities between companies in the United States and China
through its trade portal, Chinapartners.net. For more information on
CBQ, Inc., visit www.cbq.com.
This news release includes forward-looking statements related to
CBQ, Inc. that involve risks and uncertainties, including, but not
limited to, quarterly fluctuations in results, the management of
growth, market acceptance of certain products and other risks. These
forward-looking statements are made in reliance on the "safe-harbor"
provisions of the Private Securities Litigation Reform Act of 1995.
For further information about these factors that could affect CBQ's
future results, see the company's filings with the Securities and
Exchange Commission (the "Commission"). Prospective investors are
cautioned that forward-looking statements are not guarantees of future
performance. Actual results may differ materially from management
expectations.
--30--na/da*
CONTACT: VGS Marketing Group, Inc.
Valerie Gabriel-Swenson, 972/395-9034
vgs@onramp.net
or
CBQ, Inc.
John Harris, 972/732-1100
investors@cbq.com
or
China Partners, Inc./ChinaSoft, Inc./Capital House, LLC
Joan Worden, 202/337-5411 or 202/342-8113
wnsgl@aol.com
KEYWORD: TEXAS INTERNATIONAL ASIA PACIFIC
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS INTERNET
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
URL: businesswire.com
*** end of story *** |
