OT: Jim what do you think of TMGS?...it was hyped all over RB today and I just started DD on it ....
when the news came out at noon about their phase II debt
reduction... it took off like a rocket....up 87%
bigcharts.com
so far hypers and bashers are about equal....and I'm kinda behind on this one.....
I'm trying to find out if the run is over or just starting...
do you have an opinion?
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Murdock Group Holding Company Enters Second Phase Of Debt Restructuring Program
THURSDAY, NOVEMBER 02, 2000 12:49 PM
- PRNewswire
SALT LAKE CITY, Nov 2, 2000 /PRNewswire via COMTEX/ -- The Murdock Group Holding Company (OTC Bulletin Board:
TMGS), announced today details for phase two of its five part debt restructuring program that began in September.
Following October's successful phase one debt reduction of 4.2 million dollars, TMGS today announced phase two of the debt
reduction plan scheduled for completion by late this month. Phase two is designed to reduce liabilities by more than 6 million
dollars with annual cost savings of approximately 1.6 million dollars by retiring the long-term high interest debt. This reduction
will be accomplished through a combination of real estate portfolio sales of small and midsize properties and debt to equity
conversion into common stock.
"Our five phase plan to strengthen the company financials by drastic debt reductions and increased cash flow acquisitions is
markedly ahead of projections," stated KC Holmes, CEO. "We will continue to focus on growth in our core competency areas
and find ways to control costs, thereby creating value for our shareholders."
About The Murdock Group
Founded in 1983, The Murdock Group has emerged as a business incubator with emphasis in the employment industry. The
Murdock Group has incubated Internet offerings MyJobSearch.com, an employment portal, and CareerWebSource, a BtoB
employment information company, as well as a full service brick and mortar career-coaching provider. The Murdock Group also
has a real estate development group specializing in small to midsize entitlement projects.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. While these statements are made to convey the company's progress,
business opportunities, and growth prospects, readers are cautioned that such forward looking statements represent
management's opinion. Actual company results may differ materially from those described. The company's operations and
business prospects are always subject to risk and uncertainties. A more extensive listing of risks and factors that may affect
the business prospects of the Company and cause actual results to differ materially from those described in the
forward-looking statements can be found in the reports and other documents filed by The Murdock Group with the Securities
and Exchange Commission.
SOURCE The Murdock Group
CONTACT: Ron de Jong, investor relations of de Jong & Associates,
877-943-9065 toll free, or 760-943-9065, or fax, 760-943-7164,
tmgs@dejong.org; or Stephen Fitzwater, Executive VP of The Murdock Group,
801-268-3232, sf@murdock.com
URL: dejong.org
myjobsearch.com
murdock.com
prnewswire.com
(C) 2000 PR Newswire. All rights reserved.
KEYWORD: Utah
INDUSTRY KEYWORD: EDU
FIN
MLM
SUBJECT CODE: RCN
OTC |
