News....
Tuesday November 10, 12:07 pm Eastern Time
Company Press Release
ADGI Announces Sales Revenues
HICKORY, N.C.--(BW HealthWire)--Nov. 10, 1998--American Diversified Group (Nasdaq BB:ADGI - news) announced
Tuesday that it has completed the sale in the United States of imported Brazilian commodity products totaling $220,000.
This sale will be included in ADGI's last quarter of fiscal 1998.
ADGI has purchased, financed and sold the commodity products, in the amount of $220,000. A letter of credit for 20% of the revenues ($44,000) has been issued.
The remaining $176,000 will be payable upon completion of the shipment, which is scheduled before the end of November, 1998.
Dr. Jerrold R. Hinton, ADGI's president/CEO, has stated that this transaction was facilitated as a result of ADGI's presence, through its representatives, who have
ongoing business in Brazil. Dr. Hinton further stated that ADGI will continue to pursue further business opportunities in all territories where ADGI has business
representatives and will explore similar transactions during the remainder of fiscal 1998 and during 1999, based upon its financing capabilities, in order to increase its
sales revenues.
For further information, ADGI's Broadcast Fax System provides ADGI information (releases, newsletters, shareholder updates) and is accessible to all ADGI
shareholders via fax. To become part of ADGI's Broadcast System, please contact ADGI's Investor Relations Office at 212/332-5009 or by fax at 212/332-3249.
Except for the historical information herein, the matters discussed in this press release include forward-looking statements that may involve a number of risks and
uncertainties. Actual results may vary based upon a number of factors, including, but not limited to, risks in product and technology development, market acceptance
of new products and continuing demand, the impact of competitive products and pricing, changing economic conditions and other risk factors detailed in the
company's most recent annual report and other filings with the Securities and Exchange Commission.
Contact:
American Diversified Group Inc., New York
Dr. Jerrold R. Hinton, 212/332-5009
More Quotes and News:
American Diversified Group Inc (OTC BB:ADGI - news)
Related News Categories: biotech, medical/pharmaceutical |
