Mark...now we can go back to the original premise for buying the company...they eked out a small profit that caps a helluva turnaround, rapidly rising revenue from advertising and internet revenue streams, and the synergy between advertising and internet capabilities in one company....stock at .53/.59...well down from high two weeks ago of 1.81...gpg
Internet Business Announces Profitable Quarter
NEW YORK--(BUSINESS WIRE)--Feb. 12, 1999--New Paradigm (OTC:NPSC -
news) today announced that the Company had for the first time reported a quarterly profit
from continuing operations for the quarter ended December 31, 1998.
In its form 10QSB filed with the SEC today, it disclosed that its net profit for the quarter was $20,206 or $0.01 per share as
compared to a loss of ($189,875) or ($0.08) per share in the corresponding quarter last year. Revenues were $706,246
against $56,350 the previous year.
Mark Blundell, Chief Executive Officer stated ''We are pleased with these results and believe that they show that our concept
of selling Internet services through the strategic relationships which advertising agencies have with their clients has proven valid.''
''Our SKC Advertising subsidiary has continued to win new accounts, and we are now increasing our efforts to find other
agencies to merge with or acquire.''
New Paradigm provides Internet services to major organizations through its New Paradigm InterLink, inc. subsidiary, and
provides full-service Advertising Agency services through its SKC Advertising, Inc. subsidiary. Clients include Novartis animal
health USA, the Scottish Tourist Board, National Multiple Sclerosis Society.
A summary of the Consolidated Statement of Operations for the quarter ended December 31, 1998 is given below. The full
report is available at the Company's website: newparadigm.com
3 months ended 3 months ended
12/31/97 12/31/98
Revenues: 56,350 706,246
Cost of Goods: 0 390,410
Gross Profit: 56,350 315,836
Expenses: 249,727 295,354
Profit (loss) from
Operations: (193,377) 20,482
Other income (expense): 11,235 (276)
Net profit (loss) from
Continuing operations : (182,142) 20,206
Net profit (loss): (189,875) 20,206
Net profit (loss) per share ($ 0.08) $ 0.01
(basic and diluted)
Common Stock Outstanding 2,451,729 2,701,729
This press release may contain statements relating to future results of the Company (including certain projections and business
trends) that are ''forward-looking statements'' as defined in the Private Securities Litigation Reform Act of 1995. Actual results
may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to those
described in the Company's Post-Effective Amendment No. 2 on form S-3 to the Registration Statement on Form SB-2
(registration no. 33-92988NY). Readers are cautioned not to place undue reliance on these forward-looking statements, which
speak only as of the date hereof. The Company does not undertake any obligation to release publicly any revisions to these
forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated
events.
Contact:
New Paradigm Software
Mark Blundell, 212/557-0933 x252
mark@newparadigm.com
|
