Friday, Aug 11, 2000 8:34 AM ET
Reply # of 8230
I like this one....lol
HOUSTON--(BUSINESS WIRE)--Aug. 10, 2000--2-Infinity (OTCBB:TWIC) is pleased to announce total revenues of $1,434,362 for the six months ended June 30th, compared to $150,129 reported for the first quarter of 2000. As a result of this substantial increase in revenues and the commencement of its business plan, 2-Infinity is no longer classified as a development stage company.
2-Infinity also recorded net earnings for the six months ended June 30th of $987,491 or $0.01 basic net earnings per share, compared to a net loss of $2,391,283 or $0.04 basic net loss per share, that was reported for the first quarter of 2000. These results do not accurately reflect the company's current performance due to a one-time adjustment related to the cancellation of shares. The net loss from operations equals $3,113,665 or $0.04 basic net loss per share for the six months ended June 30th. 2-Infinity's net loss before the one-time adjustment continues to be related to the ongoing growth strategy of the company, including the recruitment of key personnel and investment in operational infrastructure.
"We are excited about our company's tremendous growth, and continue to believe in 2-Infinity's ability to achieve great things despite recent market volatility," said Ahmed D. Alumran, 2-Infinity's chief information officer. "Our focus remains on growing 2-Infinity into a new breed of communications provider that owns the business customer from the central office all the way to the desktop. The upcoming launch of our DSL service will be the next step in this evolution."
"2-Infinity's customer value proposition is the ability to provide a wide range of voice and data services over a single wire infrastructure," added Alumran. "The simplicity and cost-effectiveness of having 2-Infinity as a single point of contact for everything from voice and data solutions to broadband Internet service, is truly compelling."
2-Infinity previously announced that it has grown to 65 employees, with a 24-person sales team focused on the Houston market. Other recent developments include partnering with IP communications to roll-out DSL service in Tier 2 and 3 markets, as well as the acquisition of Maximum Return and Development Inc.
About 2-Infinity
2-Infinity is an integrated communications provider offering bundled voice and data services to small to medium-sized businesses and enterprise branch locations. Through leveraging cutting-edge broadband and convergence technologies, 2-Infinity provides innovative communication services and solutions featuring high performance guarantees and best-in-class customer service. Whether it is through integrating voice and data services over a single wire infrastructure or delivering broadband access to the Internet, 2-Infinity extends a customer value proposition that promises cost-effective and reliable |
