CBQ, Inc. Files Form 10-Q for Second Quarter of 2000
WASHINGTON, Aug 28, 2000 (BUSINESS WIRE) -- CBQ, Inc. The E-Business
Marketplace (OTCBB:CBQI.OB-news) reported its fiscal results on Friday, August
25, 2000, for the second quarter of 2000, ending on June 30, 2000.
For the three months ending on June 30, 2000, CBQ, Inc. indicated in its Form
10-Q filing with the Securities and Exchange Commission that it had revenues of
$116,504, and a net loss of $199,069. For the six months ending on June 30,
2000, CBQ, Inc. had revenues of $336,420, and a net loss of $374,995. The Form
10-Q filing did not include the acquisition on August 7, 2000, of Quantum Net
Technologies, Inc. ("Quantum"), a privately-held Delaware Corporation, in a tax
free exchange. Quantum, which services large corporate clients primarily in the
mid-Atlantic region and throughout the United States, anticipates that its
annualized revenue will exceed $14 million for 2000.
"Chairman and CEO Bart S. Fisher said, "This has been an exceptional year for
CBQ, a year of growth and laying the foundation for the execution of our
business plan. The acquisition of Quantum, the third-largest e-Business company
in Baltimore, Maryland, places CBQ in a good position to be a premier provider
of e-Business solutions in the mid-Atlantic region and nationally. The
acquisition of Quantum will allow us to make good use of the sustainable
competitive advantage we possess in the People's Republic of China and take on
larger tasks in the Information Technology sector."
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,
Quantum Technology Group, Reliance Technologies, Inc. and Priority One
Electronic Commerce Corp., it provides a full range of networking services,
software development, and web-based solutions, as well as information technology
outsourcing resources. For more information on Quantum Technology Group, visit
www.qnettech.com. ChinaSoft, Inc. is a wholly-owned subsidiary of CBQ, Inc. that
is a joint venture partner with CCSoft Technology Developing, Ltd. Its services
include Software Development for Enterprise computing and Internet development.
For more information about CCSoft, visit www.ccsoft.com.cn. China Wireless, Inc.
is a subsidiary that is developing telecommunications projects in China. China
Partners is a subsidiary that facilitates international trade and investment
opportunities between companies in the United States and China. 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.
CONTACT: CBQ Inc.
by
Joan Worden Public Relations
Joan Worden, 202/337-5411 |
