Good news for Cinema Ride out after the close today!!!!!!
Cinema Ride <MOVE.O> completes financing agreement
STUDIO CITY, Calif., Jan. 15 (Reuter) - Cinema Ride Inc on
Wednesday said it has completed a financing agreement with
FINOVA Group Inc's <FNV.N> FINOVA Technology Finance Inc which
will provide just over $1.5 million in equipment lease
financing to Cinema Ride.
The equipment financed consists of seven of Cinema Ride's
3-D ride simulators in The Forum Shops at Caesars Palace in Las
Vegas and at its new facility at Times Square in New York.
REUTER
Rtr 17:15 01-15-97
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Finally the threat of a bankruptcy is over....if you combine this news with the earlier release in Dec. about sales in excess of $3 million I think we should see a substantial rise in the stock right now.
Here is the previous release:
Cinema Ride <MOVE.O> sees '96 revs over $3 million
STUDIO CITY, Calif., Dec 12 (Reuter) - Cinema Ride Inc said
on Friday it expects revenues for the year ending December 31
to exceed $3.0 million, an increase of about 35 percent over
1995 sales.
Earlier, the company reported a third quarter net profit of
$2,281, or nil per share, on revenue of $1.0 million versus a
net loss of $513,936, or $0.11 a share, on revenue of $665,208
one year ago.
"We just opened our third location -- in the heart of Times
Square in New York City -- and revenues from our Las Vegas
location continue to excel," Mitch Francis, chief executive
officer, said in a statement.
"Early indications are that revenues from our Times Square
location will be comparable to those from our Las Vegas
location," he added.
Francis also noted the company has been able to cut
operating costs at each of its locations and is in discussions
to obtain additional financing.
REUTER
Rtr 15:33 12-06-96
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I also think that due to this increase in sales that 4 rth quarter earnings will be substantially better than anyone has expected.........since the stock has been given up for lost by most people due to the lack of financing, and now that the financing is in place, I think that the stock is severely undervalued.
Now is a great chance to buy aggressively.....;^) |
