Optimistic News Release and someone goes out and sells 5k shares...oh well, must be Margin calls coming in...
Monday August 31, 2:01 pm Eastern Time
Company Press Release
American General Ventures Receives
National Recognition for Agreement
With Wal-mart Online's Build to Order
Computer Program
COLORADO SPRINGS, Colo.--(BUSINESS WIRE)--Aug. 31, 1998--Several national publications have recently featured articles noting that Wal-Mart Online launched its Build to Order (BTO) computers
with ACI Micro Systems, Inc., a wholly owned subsidiary of American General Ventures, Inc.
(OTCBB:AMGV - news).
ComputerWorld, in its August 10, 1998 edition reported that Wal-Mart Online was entering the BTO arena. ComputerWorld stated ''probably the most feared brand in brick-and-mortar retailing, Wal-Mart Stores, Inc. launched custom-configured PC sales on its Web site, (www.wal-mart.com), an area in which Dell Computer Corp. [Nasdaq:DELL - news] says it pulls in $6 million per day.'' ComputerWorld continued ''Wal-Mart is partnering with ACI Micro Systems in Colorado Springs, which will produce, ship and support the PCs under the Avail brand name.''
Retail Price Week in August 5, 1998 edition reported that ''Wal-Mart late last week officially announced its online BTO PC venture. Wal-Mart tapped clone-maker ACI Micro Systems, Inc, a wholly-owned subsidiary of American General Ventures as its primary online BTO supplier. Wal-Mart and ACI have been doing business together since 1995, the year in which ACI's 'Avail' line was chosen as a distributor by Wal-Mart.''
The recognition has resulted in a considerable increase in computer sales for the Company. Sales to Wal-Mart Online soared nearly 70% the first two weeks of the BTO program. ACI Micro Systems revenues for the first six weeks in its third quarter were substantially greater than its entire 2nd quarter 1998. Steven Walker, President and CEO of American General Ventures said that he was very encouraged that the Company is likely to be profitable after several quarters of losses. Walker reported that in addition to the significant increase in sales from Wal-Mart's BTO program, its own web site sales, advertised on Microsoft's Hotmail, have exceeded expectations. American General Ventures' web site receives over 15,000 hits daily.
For more information on American General Ventures and ACI Micro Systems, please visit our web page at www.availpc.com.
When used in this report the words ''should'', ''believe'', ''anticipate'', ''expect'', and similar expressions are intended to identify forward-looking statements. Such statements indicate management's reasonable assessment of the results of targeted programs and policies. These results are subject to risks and uncertainties which could cause actual results to differ materially from those projected.
Contact:
American General Ventures Inc., Colorado Springs
719/548-1616 |
