NEWS NEWS
Wednesday May 10, 2:30 pm Eastern Time
Company Press Release
SOURCE: ConSyGen, Inc.
ConSyGen Announces FY 2001 Revenue Projections Prior to Shareholders Meeting
TEMPE, Ariz., May 10 /PRNewswire/ -- ConSyGen, Inc. (OTC Bulletin Board: CSGI - news), www.consygen.com in preparation for its 1999 Annual Shareholders Meeting to be held May 19, 2000 in Tempe, Arizona, ConSyGen, Inc. today announced its fiscal year 2001 revenue projections. Fiscal Year 2001 begins June 1, 2000, and ends May 31, 2001.
Based on current commitments, the Company expects revenue from the Counterfeit Cop division of $13-17 million dollars. This number could rise substantially if the Company is successful in signing 2-3 additional master distributors. The Company plans to begin selling the units internationally in fiscal year 2001, however no international revenue is included in these projections. Sales from the Counterfeit Cop division will be under $1 million for the fiscal year ending May 31, 2000.
The Company expects several different revenue streams from its BizPay International subsidiary. BizPay Australia is scheduled for an August 2000 launch. Revenue projections indicate fiscal year 2001 revenue between $8-9 million. The business plan calls for all revenue to be reinvested in the business, and BizPay Australia is not projected to declare shareholder dividends until the first quarter of FY 2002. The Company expects to launch 2-3 additional BizPay sites during the fiscal year, and the Company is currently negotiating several strategic domestic partnerships that are not included in the revenue projections. The Company expects to begin announcing those partnerships during the first quarter. The Company will not report any revenue from BizPay for the fiscal year ending May 31, 2000.
About ConSyGen, Inc.
ConSyGen's business is customer-driven, technology-influenced and service-oriented, coupled with world-class software development. In order to achieve the core company goals, various business units have the responsibility for developing cohesive missions, quantifiable objectives and comprehensive strategies. These business units include E-Commerce, Internet Services, and Business Products.
Forward-looking statements involve risks and uncertainties that may cause actual results to differ materially from those projected in such forward-looking statements. Factors which could affect results include the development of competing or superior technologies, market awareness, acceptance of ConSyGen's technology or products, overall market demand for conversion services, the company's ability to attract and retain qualified personnel, the companies ability to protect its propriety information and other risk factors set forth in the company's SEC filings. Regarding business projections in Australia, ConSyGen relies on information provided by its Australian partners.
Contact: Jason Genet of ConSyGen, Inc., 480-394-9100, www.consygen.com
SOURCE: ConSyGen, Inc. |
