QBIZ OTC BB .50/.62...they actually make money and they do file w/the SEC....
QuikBIZ Internet Group, Inc. Reports Record Third
Quarter and Nine Months Results
Company Reports Third Quarter Profit
FT. LAUDERDALE, Fla.--(BUSINESS WIRE)--Dec. 10, 1998--QuikBIZ Internet Group, Inc. (OTC BB:QBIZ)
announced today record results for the third quarter and nine months ended September 30, 1998.
For the three months ended September 30, 1998, the company reported a net income of $32,767 on revenues of $992,149,
compared with a loss of $16,541 for the same period in 1997. There were no revenues for the 1997 third quarter.
Net income for the nine months ended September 30, 1998 was $38,853 on revenues of $1,700,264, compared with a loss of
$73,493 for the 1997 nine month period. There were no revenues for the 1997 nine months.
In announcing the results, David Bawarsky, Chief Executive Officer of QuikBIZ, said, ''We are pleased with the rapid growth
of sales and the net income produced in our third quarter. These results are primarily attributable to the acquisitions of the Smith
Agency and QuikLAB Multimedia. More importantly, the results reflect the Company's commitment to the expansion of its
Internet television capabilities directed to the business-to-business market.''
Mr. Bawarsky added, ''With the acquisitions of The Smith Agency and QuikLAB Multimedia Centers we are poised to
accelerate our growth into E-commerce, offering small and large businesses and other entities' services that will save them both
money and time. For example, our recently announced Quoteit.com website allows businesses to shop for audio, video,
CD-ROM and other electronic media duplications in a 'name your own price' forum.''
The Company also has announced the formation of a new service offering Internet television studio rentals, by the hour, to the
general public.
QuikBIZ Internet Group is an Internet-related holding company, which wholly owns several subsidiaries including The Smith
Agency, QBIZ Business Centers, QuikLAB Multimedia Centers and Quoteit.com. Examples of streaming videos can be found
at the company's website quikbiz.com. PR Photos for downloading are available at
prphotos.com. For more information on QuikLAB Multimedia Centers, please visit the company's website
qlab.com.
The statements in this press release that relate to future plans, events or performance are forward-looking statements that
involve risks and uncertainties, including risks associated with uncertainties pertaining to customer orders, demand for products
and services and other risks identified in the Company's SEC filings. Actual results, events and performance may differ
materially. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the
date hereof. The Company undertakes no obligation to release publicly the result of any revisions to these forward-looking
statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of
unanticipated events.
This release is available on the KCSA Worldwide website at www.kcsa.com.
QuikBIZ Internet Group, Inc.
Financial Highlights
Three Months Ended Nine Months Ended
September 30, September 30,
1998 1997 1998 1997
Revenues $992,149 -- $1,700,284 --
Cost of goods sold 588,062 -- 1,016,933 --
Gross profit 406,087 -- 683,351 --
Operating expenses:
General and
Administrative 370,106 16,541 635,783 73,493
Interest 3,304 -- 8,715 --
Total operating
expenses 373,320 16,541 544,495 73,493
Net profit (loss) 32,767 (16,541) 38,853 (73,493)
Contact:
QuikBIZ Internet Group, Inc.
David Bawarsky
Chief Executive Officer
(954) 735-2300
or
KCSA
Joseph A. Mansi/Scott Eckstein
(212) 682-6300, ext. 205/288
Fax: (212) 697-0910
e-mail: pr@kcsa.com
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