November 1998 update
The Bridges Initiatives Inc BIT
Shares issued 8,496,250 Nov 11 close $0.75
Thu 12 Nov 98 News Release
The Bridges Initiatives Inc.
Trading Symbol BIT * Stock Exchange ASE
30 Day High $0.80/share * 30 Day Low $0.46/share
Oct. 30, 1998 close $0.70/share
The value of Bridges stock surged last month thanks to the support of Al
Budai, president of the Buy Low Sell High newsletter. On his recent talk
show broadcast across Canada via the WIC network, Mr. Budai recommended
Bridges as an investment. Bridges stock traded as high as 80 cents in
October, and settled at 70 cents at the end of the month. "This
demonstrates the importance of supplying good information to the investment
community," says Doug Manning, CEO of Bridges. "We believe the
dissemination of good information will continue to increase investor
awareness -- and in turn assist in supporting a more accurate valuation of
Bridges' stock in the market."
Recent Accomplishments
Q4 New Sites Sales on Target
Bridges generated $248,700 on 187 new site sales in the first two months of
the fourth quarter. October's 83 new sales are down from the previous month
sales.
"We expect a strong close to the quarter," says Mike Martin, vice-president
of sales and marketing. "I'm confident our sales performance in November
will allow us to meet our fiscal goals for Q4."
Closing In On Resubscription Goal
Resubscription sales totaled $700,000 in the first 11 months of fiscal
1998. Only 103 subscribers from 1997 have yet to determine their intentions
for 1998.
"Bridges is close to achieving its 1998 goal of a 90 per cent rate of
resubscription," says Norm Thompson, vice-president of finance. "Bridges'
strength is our consistent ability to resubscribe customers at very high
rates. It allows us to build on a growing core of subscribers and
continually add to our revenue base."
Year 2000 Web Updates at bridges.com
Initial evaluations indicate that Bridges' hardware and software is Y2K
compliant. However, due to customer and third party provider compliance
issues, Bridges will continue to treat as a high priority during 1999, the
ongoing development and communication of it's Y2K plan.
A Y2K section will be launched on our corporate Web site at bridges.com in
late November. Its initial content will define Bridges' plan for Y2K
preparation. Updates will be posted regarding developments in that plan.
1998 1997
Sites Accessing as of Oct. 2,363 951
Total Pages Viewed in Oct. 2,033,563 579,760
Total Hits in Oct. 8,441,878 NA
THE BRIDGES INITIATIVES INC.
7B-1404 Hunter Court
Kelowna BC Canada V1X 6E6
Tel: 250 862 8722 * Fax: 250 862 8771
E-mail: info@bridges.com
Website:www.bridges.com
The Alberta Stock exchange has neither approved nor disapproved the
information contained herein. |
