Phoenix resources technologies, selling at .10 book Message Board

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Microcap & Penny Stocks : Phoenix resources technologies, selling at .10 book

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To: MJ Brouillette who wrote (4)	6/26/1996 5:32:00 PM
From: Paul J. Sharga	of 20

Here's the latest SCOTTSDALE, Ariz.--(BUSINESS WIRE)--June 25, 1996--Phoenix Resources Technologies Inc. (OTC/BB:PRTIE) Tuesday announced that quarterly reports (the 10-Qs) have been filed for the first and second quarters (ending Jan. 31, 1996, and April 30, 1996, respectively) of the current fiscal year. The company reported a loss of $470,563 or 6 cents per share for the first quarter. The quarter has traditionally been a period of low earnings for the company. Phoenix Resources Tech. reported earnings for the quarter ending April 30, 1996, to be $598,090 or 8 cents per share. This period represents the first complete quarter which the current management has overseen operations for the company. The return of profitability to Phoenix Resources Tech. can be attributed to new management's initiatives to decrease the cost of sales through effective and efficient utilization of the company's resources. New sales contracts for the Wood Products Division and a high demand for natural gas in the Northeastern United States have also contributed to the profitability of the company. Management expects profitability to continue through the remainder of the fiscal year, with announcements regarding operational activity and new business to be released in a progressive and timely manner. CONTACT: Pacific Corporate Equities Dan Spurway, 800/844-5549 KEYWORD: ARIZONA INDUSTRY KEYWORD: ENERGY OIL/GAS EARNINGS BW1140 JUN 25,1996

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