news:
HOUSTON--(BUSINESS WIRE)--Dec. 3, 1998--PinkMonkey.com, Inc. (OTC BB:PMKY), is an on-line publishing company, whose business strategy is to provide educational services, including study aids via the Internet. Management of PinkMonkey.com is unaware of the reasons for the recent runup of the price of the company's common stock, as there have been no material recent developments. Pat Greene, the company's chief executive officer, stated, "historically, trading in the company's common stock has been limited, volatile and sporadic; while there are sum 14,800,000 shares of common stock outstanding, there are only sum 400,000 shares of common stock in the public float. Moreover, the company has conducted limited business operations since inception, currently has limited cash and assets, has generated nominal revenues since inception, and has not been profitable since inception. It is expected that the company will incur operating losses for the foreseeable future."
The company has had a web site at www.pinkmonkey.com since September 1997, where it has offered a limited number of literature notes for sale. In November 1998, PinkMonkey.com completed the revision and upgrade of the web site and now offers approximately 125 literature notes which include MacBeth, The Great Gatsby, The Call of the Wild, and various other titles. In the future, PinkMonkey.com intends to offer study guides, test preparation software and other education study aids, as well as additional literature notes. The company currently has banner advertisements on Yahoo's web site which provide hyperlinks to the company's web site at www.pinkmonkey.com.
"Currently, PinkMonkey.com is a nonreporting company, yet it intends to file a registration statement with the SEC in the near future. Once the company becomes a reporting company, the company will make periodic filings with the SEC which will provide investors with access to all of the company's current business and financial information via the SEC's web site," stated Greene.
"We believe the Internet offers exciting opportunities with respect to distributing our current educational study aids as well as future educational study aids to our target market," stated Greene. The company will face vigorous competition in the sale of its products from both online digital publishers and traditional retailers. The online commerce market, particularly over the Internet, is new, rapidly evolving and intensely competitive, which competition the company expects to intensify in the future. Barriers to entry are minimal, and current and new competitors can launch new sites at a relatively low cost. In addition, the retail note, guide and software industry is intensely competitive. These competitive features will effect PinkMonkey.com's and its competitor's pricing, business strategy, the development of additional products, and the financial condition of the company. The company believes its literature notes are competitive with those of its competitors, however many of the company's current and potential competitors have longer operating histories, larger customer bases, greater brand recognition and significantly greater financial, marketing and other resources than the company. Further, as a strategic response to changes in the competitive environment, the company (and its competitors) may from time to time make certain pricing, service or marketing decisions that could have a material adverse effect on PinkMonkey's business, prospects, financial condition and results of operations.
Statements in this news release, prior news releases, and other public disseminations that are not historical facts, including statements about plans and expectations regarding products and opportunities, demand and acceptance of new or existing products, market size, the ability to become a market leader in the educational study aid market over the Internet, competition, capital resources and future financial results are forward-looking. Forward-looking statements involve risks and uncertainties which may cause the company's actual results in future periods to differ materially from those expressed. These uncertainties and risks include changing consumer preferences, lack of success of new products, loss of the company's customers, competition, ability to grow, and other factors.
For more information, contact David Drake at Merger Communications, Inc. at 713/267-2328 or email at daviddrake@earthlink.net. |
