NEWS OUT!!!!!!
Jones Naughton Reports Significant Business Developments
Company Reports Significant Increase in Shareholder Interest
LOS ANGELES--(BUSINESS WIRE)--May 21, 1998--Jones Naughton Entertainment, Inc. today issued a statement regarding significant business developments. The Company also addressed the recent sharp increase in shareholder interest and trading volume.
According to Company Chairman Joseph Naughton, increased interest in Jones Naughton Entertainment is a reflection of the Company's diligent efforts to maximize current opportunities. "As an information technology Company, we recognize that investors are keenly aware of this industry and we have recently experienced a much higher volume of investor inquiries. Our overriding goal has been to plan carefully, negotiate thoughtfully, and execute thoroughly each Company program and acquisition. We believe the success of this strategy is, to a great degree, responsible for the dramatic rise in interest from the investment community.
"We are currently involved in negotiations to acquire a profitable publishing, advertising and direct marketing company which will further build upon our foundation for growth. This acquisition would be of great financial benefit to our Company and accretive to shareholder value. We will announce details of this acquisition as soon as possible, hopefully in the next few weeks."
Updating other Company developments, Mr. Naughton also commented, "Additionally, Jones Naughton receives royalty income from a program developed for marketing financial services through mass market retailers. This concept is currently being used by a major mass market retailer and the program is expected to be expanded substantially over the next few months. As always, we will continue to define more and better ways to generate increased revenues and greater profits for our shareholders."
Jones Naughton Entertainment (OTC Bulletin Board: JNNE - news), through its COMMUNITY MARQUEE division, operates audio visual information systems custom-designed to provide free, instant and site-specific information to commercial businesses for advertising and marketing goods and services in a wide variety of community forums. Current subscribers to the system include the U.S. Army Recruitment Offices, Enterprise Rental Car, Great Western Savings, National University, Manpower Inc. [NYSE:MAN - news], Temporary Employment Agency, Round Table Pizza and a host of independent businesses. Planned growth is through acquisition of small specialized marketing companies in targeted markets nationwide. Jones Naughton also receives royalty income from a program developed for marketing financial services through mass market retailers.
This press release contains forward-looking statements which are made pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Expression of future goals and similar expressions reflecting something other than historical fact involve a number of risks and uncertainties, including timely development and market acceptance of certain products and services, successful integration of acquisitions, the ability to secure additional financing and the ability to operate within the framework of available resources. The actual results the Company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. |
