LETTER FROM THE CEO TO SHAREHOLDERS UPDATED ON WEBSITE
Attention Chronicle Communications Shareholders: Updated on
January 13, 1999
Happy New Year and God Bless. Chronicle celebrates it's third
birthday on April 5, 1999. It's hard to believe that just a few months
ago I talked with many of you for the first time about investing in
Chronicle. When we began selling stock under rule 504-D Chronicle
had just nine employees, revenues were under $500,000 and we all
hoped that our goal of becoming a public company would become
reality.
As we begin the new calendar year and complete the first quarter of
our fiscal year it is clear that things have changed drastically for the
good. Chronicle is quickly becoming a company we can all be proud
of. Today, Chronicle has 45 full time employees, and three part time
workers. Revenues (after poolings) for the year ended 1998 will
exceed $2.3 million and our revenue projections for year ended
September 30, 1999 are forcasted to exceed (unaudited) $7 million.
We had an effective registration statement on July 19, 1998 and
were allowed to actively promote our stock after October 7, 1998.
From October 8, 1998 through January 13, 1999, 53 trading days,
we have traded 1,963,900 total shares or an average of 37,055
shares per day.
Chronicle has been on the acquisition trail and has successfully
closed three of the four acquisitions it has started. We now own
Bright Now Inc., a web-offset commercial printing plant located in
Tampa, Florida. We have agreed to acquire and are currently
operating Sun n' Fun Inc's, asset under a management contract. Sun
n' Fun is a commercial web-offset printing plant in Clearwater,
Florida. We acquired Richard K. Nicholson Enterprises of Boca
Raton, Florida and Bartow Communications of Rockville, Maryland,
(please read press releases on this web site).
According to Atlas Stock Transfer at market close on January 13,
1998 our total shares issued and outstanding are 5,538,564 with
1,346,644 in the public float. Our closing stock price on January 13,
1998 was .46875 on volume of 86,400. We are beginning to
develop a public market for our stock. Our commitment to build
stock price and provide shareholders with liquidity is strong.
Chronicle has signed contracts with several public relations and
investor relations professionals. Their job is simple--They are telling
the world who Chronicle is, where we are going and encouraging
them to own a piece of our dynamic company.
New to the chronicle team is a vice president of Sales and
Marketing, and a Product Development professional. These men are
among the top professionals in their field and we can all look forward
to big things from them as the year goes on. Our internet products
are still on the drawing boards. I told the world that we would
release information on those products by late last year, however the
more work we do the more exciting and complicated our ideas have
become. Look for information on our internet product line in mid
March '99.
David E. Salmon has joined Chronicle as our in house investor
relations professional. He is available for questions and comments
and can be contacted at our Tampa printing plant at 813-248-0100.
His e-mail address is: ntnetman@gte.net
I encourage each existing shareholder to HOLD on to your stock
and for those of you who are thinking about investing in Chronicle,
do so and then hold on to it. We are aggressively growing a REAL
business. I encourage those of you who are in a financial and legal
position to do so to increase your position in Chronicle. I look
forward to growing your company in 1999 and I thank you for your
interest in Chronicle Communications Inc. |
