Global-American Investments, Inc. Continues to Grow
OTCBB: SEGB
DIAMOND BAR, CA, Sept. 24 /PRNewswire/ - SE Global Equities Corp. (OTCBB: SEGB - news) a provider of technology and financial resources for international investors, is pleased to report the continuing growth of its recently acquired broker-dealer, Global-American Investments, Inc. (GAI).
Following the May 2001 announcement of SE Global's intent to acquire GAI, GAI's unaudited gross revenues for the period May 15, 2001 to August 31, 2001 totaled US$342,678. Over this period, GAI's revenues grew an average of 5% per month. As a result of the completion of the acquisition, announced in July 2001, all GAI revenues beginning August 1, 2001 will be reflected in SE Global's consolidated revenues beginning third quarter 2001. SE Global's consolidated gross revenues from its direct access trading business for the month of August totaled $102,327, as compared to $9,500 for the period March to July 2001.
``Acquiring Global-American has permitted us to reduce our clearing and transaction costs by as much as 70%,'' said SE Global president Toby Chu. ``We also anticipate additional clearing cost reductions assuming that the volume of trade execution continues to grow. Furthermore, although past performance is not necessarily indicative of future performance, we are pleased with the rapid revenue and account growth rate of Global-American Investments. In a relatively short period we have experienced tremendous interest from broker- dealers, marketing companies and individual retail clients in other countries who are exploring the possibilities of utilizing SE Global Trade(TM) for real- time trade execution and streaming market information for U.S. securities.''
About SE Global Equities Corp.
SE Global Equities Corp. is a provider of technology and financial resources for international investors. SE Global provides direct access trading software and market data through a formal licensing and worldwide distribution agreement with Direct Access Financial Corporation.
SE Global is not a securities dealer in its own right and has not sought such registration. All trade execution and support services are provided by the individual alliance broker in compliance with local regulatory requirements. GAI, a subsidiary of SE Global Equities Corp., is a registered broker-dealer and a member firm of the National Association of Securities Dealers (NASD) and the Securities Investor Protection Corporation (SIPC). The acquisition of GAI remains subject to regulatory approval from NASD Regulation Inc. If we are unable to obtain such regulatory approval, SE Global may be forced to sell its interest in GAI. Not all securities, products or services described are available in all countries, and nothing herein is an offer or solicitation of securities products and services in any jurisdiction where their offer or sale is not qualified or exempt from registration.
For more information visit our website at www.SEGlobal.com.
On Behalf of the Board of Directors
of SE Global Equities Corp.
"Toby Chu"
----------
Toby Chu
President & C.E.O.
biz.yahoo.com |
