Friday March 19, 7:00 am Eastern Time
Company Press Release
Hitsgalore.com, Inc. -f/k/a Systems Communications, Inc.- Announces Revenues and Details of Transactions
RANCHO CUCAMONGA, Calif.--(BUSINESS WIRE)--March 19, 1999-- Hitsgalore.com, Inc., formerly known as Systems Communications, Inc. (OTCBB-SCMI), announced unaudited Gross Revenues for February 1999 of $152,369 related to the hitsgalore.com website. This is more than double the January 1999 revenues of approximately $70,000. The Company anticipates announcing continued growth for this month.
Hitsgalore.com has been a profitable Internet company with a Internet search community that means business. The Hitsgalore.com business model is based on offering Free Lifetime Banner Placement, a Keyword Bid & Rank program and Local City Editions featuring local content. The website came out of beta testing in late November '98 and generated unaudited revenues of less than $20,000 from inception to 12/31/98. Hitsgalore.com expects to unveil its newly designed site in the next week.
In connection with the reverse merger of Hitsgalore.com into SCMI, SCMI's Common Stock was reverse split 1:7 immediately following the final merger. SCMI shareholders will therefore have 8 million shares, with approximately half of those representing the initial free trading float of Hitsgalore.com, Inc. The Company anticipates a new trading symbol in the next several days reflecting the name change to Hitsgalore.com, Inc.
In a related matter, SCMI declared a dividend in kind to its shareholders of record on April 6, 1999. The dividend is comprised of a 1 for 1 share of International Healthcare Solution, Inc. (''IHSI''). Those shareholders of record owning the 8 million SCMI shares referred to above, on the Record Date, will be eligible to receive the 1 for 1 dividend as stated in previous press releases. The pre-merger stockholders of Hitsgalore.com will not receive any IHSI shares. IHSI will carry on the healthcare cost containment service business previously conducted by SCMI. Retail distribution of the IHSI shares to SCMI's stockholders and a trading market cannot take place until IHSI has an effective SB-2 registration statement which IHSI will file with the SEC. Questions about IHSI should be directed to IHSI at 727-530-4800.
Financial statements in this press release other than historical facts are ''forward-looking'' statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. Hitsgalore.com, Inc. intends that such statements about the company's future expectations, including future revenues and earnings, and all other forward-looking statements are subject to the safe harbors created thereby. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the company's actual results could differ materially from expected results.
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Contact:
Hitsgalore.com, Inc.
Investor Relations: 909-481-8821
or investor@hitsgalore.com
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