fwiw-Palm Desert Art Exceeds 190% of Sales Projections For Phase I Test Launch
Wednesday July 26, 6:05 am Eastern Time
Company Press Release
Palm Desert Art Exceeds 190% of Sales Projections For Phase I Test Launch
PALM DESERT, Calif.--(BUSINESS WIRE)--July 26, 2000--Palm Desert Art Inc. (OTCBB:PDAP - news) Wednesday announced that PHASE I testing of its new Decorative Accents Collection of prints has been completed in Florida and Arizona with impressive results.
Management previously stated that it would require minimum sales of $150,000 in each state to proceed. By attaining sales of $597,035, Palm Desert Art has exceeded sales projections by 190% and is now comfortable with expansion into other states.
Hugh Pike, chairman stated, ``We are very pleased with PHASE I results and will begin PHASE II rollout August 1, 2000.''
The Management of Palm Desert Art Inc. has developed a three phase marketing campaign to accelerate sales. PHASE I involved the sale of prints to furniture and high-end gift stores. In PHASE II the company will offer art work directly to the consumer through the in-home Art Show Medium. Independent art reps are currently being recruited to begin test marketing. PHASE III will direct sales to professional interior designers and decorators.
Business Summary
Palm Desert Art Inc. is in the business of publishing limited-edition serigraphs, lithographs and other works of fine art created by internationally recognized and innovative, contemporary artists, and distributing its artwork to independent art galleries though-out the country. In addition to the publishing business, the company owns and operates several art galleries.
Certain statements contained herein are ``forward-looking'' statements (as such term is defined in the Private Securities Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements.
Factors that could cause or contribute to such differences include continued acceptance of the company's products in the marketplace, the timing of significant orders, delays in the company's ability to develop or ship new products, market acceptance of new products, competitive factors, general economic conditions, currency fluctuations, and other risks detailed in the company's registration statements and periodic reports filed with the Securities and Exchange Commission. By making these forward-looking statements, the company undertakes no obligation to update these statements for revisions or changes after the date of this release.
For more information, contact: Pike, 760/346-1192
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