AWSS Subsidiary Contracts with American Airlines Credit Union's Auto Services
SCOTTSDALE, Ariz., Mar 14, 2001 /PRNewswire via COMTEX/ -- Advanced Wireless Systems, Inc. (OTC Bulletin Board: AWSS) announced that its recently acquired subsidiary, RAP Group, Inc. (dba Repo Outlet) has entered into a sales and marketing agreement with American Airlines Credit Union. The agreement designates Repo Outlet as one of a select group of new and used car dealers to service American Airlines employees in the greater San Francisco Bay Area. American Airlines employees currently finance approximately 15,600 automobiles per year in the greater San Francisco Bay Area. The agreement between American Airlines Credit Union and Repo Outlet is for a duration of thirteen months.
Jeffrey Schneider, President of the RAP Group, Inc. said, "The contract between American Airlines Credit Union and Repo Outlet provides that Credit Union Auto Services and Cyber Auto Network will promote our new and used automotive inventory to American Airlines employees both by mail and internet. As a 'preferred' automotive dealer this will serve to maximize our exposure to American Airlines employees in the greater San Francisco Bay Area."
Tom Howard, CPA, Advanced Wireless Systems, Inc.'s Chief Financial Officer noted that while the Rap Group, Inc. was acquired after the first of the year and its operations will not be reported in the upcoming 10K, its sales for the first two months of the year are up approximately 8%. "Despite the downtrend in the national economy, during January and February of 2001, gross sales amounted to $1,073,900 compared to $994,700 for the same two month period last year. Of great significance, is the fact that the average sales price during January and February of 2001 was $10,900, compared to $9,296 during the same period last year," said Howard. The Rap Group, Inc.'s gross sales for all of 2000 amounted to $7.2 million.
Now if you can only buy stock between the spread somewhere. :o(
I hate a large spread!
Happy Investing!
KZAP |
