Ken,
I think I have learned a little from all your great TA analysis. I picked the most recent gap for NXTI this morning and it filled. They had more news today and people sold on it.
Joe
Press Release Source: Next, Inc.
Next, Inc. Announces its Latest Acquisition
Wednesday June 25, 8:04 am ET
CHATTANOOGA, Tenn.--(BUSINESS WIRE)--June 25, 2003--Next Inc. (OTCBB:NXTI - News) Next, Inc. announces an agreement to acquire the business of Lil Fan and affiliates ("Lil Fan"), a privately held sales and marketing company located in Noblesville, Indiana. NEXT anticipates that Lil Fan will generate revenue of approximately $5 million for the fiscal year ending 2004 and continue to expand the Company's diversity of customers and products.
Lil Fan is a full line design and merchandising company primarily focusing on children's licensed college and motor sports products. The company currently has licenses for over 120 major university and colleges as well as the Indianapolis Motor Speedway, International Speedway Corporation, Chevrolet Racing, and Garfield amongst its other licenses. Lil Fan has an extensive customer base including the major college bookstore chains (Follett's, Barnes & Noble, College Bookstores of America, and Nebraska Book Stores); national department stores such as JC Penney's, Dillard's, and Von Maur; significant auto racing events such as the Indianapolis 500, Brickyard 400, Daytona 500, National Hot Rod Association ("NHRA"); and also ships to over 200 United States military bases around the world through a vendor agreement with both military buying units: NEXCOM and AAFES.
Mr. Dan Cooke, Chairman of the Board and CEO, stated, "The Lil Fan acquisition is the latest in a series of planned strategic moves that continues to significantly enhance the Company's market, customer and distribution position, as well as enhance shareholder value. We welcome Mr. Stan Howard, Lil Fan' President, and the Lil Fan' industry expert team joining NEXT." Mr. Cooke further sated that "the Company is engaged in discussions with various equity groups in conjunction with the Company's strategic growth."
About NEXT INC:
NEXT, is a creative and innovative sales and marketing organization that designs, develops, markets, and distributes licensed and branded promotional products and imprinted sportswear primarily through key licensing agreements and the Company's own proprietary designs. Next products are: www.collegewearusa.com(TM); www.rpmsportsusa.com(TM); www.americanbiker.net(TM).
NEXT has 11.4 million outstanding common shares and trades under the symbol NXTI.
The information provided for in this Press Release contains forward looking statements and information with respect to plans, projections or future performance of the Company, the occurrence of which involves risks and uncertainties that could cause the Company's actual results to differ materially from expected results and other risks detailed in the Company's filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date the statements were made. The Company's actual results could differ significantly from those discussed or implied herein.
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Contact:
Next, Inc., Chattanooga
John D Gioioso, 423/296-8213 Ext. 5
jgioioso@nxt-inc.com |
