NEWS...
( BW)(CA-ZIASUN-TECH)(ZSUN) ZiaSun Announces Effective Date for
Stock Split
Business Editors/Technology Writers
SAN DIEGO--(BUSINESS WIRE)--April 20, 1999--ZiaSun Technologies Inc (OTC
BB:ZSUN) (www.ziasun.com) has announced that it has authorized a two-for-one common
stock split.
The stock split will be effective as of May 21,1999 for those shareholders on record
as of May 14, 1999.
ZiaSun yesterday announced its 1998 consolidated audited results for the company and
its subsidiaries Momentum Asia, Inc. and Momentum Internet, Inc. On a consolidated
basis ZiaSun achieved net income of $1,152,210 on total revenues for both subsidiaries
of $3,457,397, with earnings per share (EPS) of $0.11.
"Our 1998 audited financial reports speak for themselves," said Anthony L. Tobin,
President and CEO of ZiaSun. "Our earnings of 11 cents a share are a promising indicator
that we have selected a winning group of companies, in a high growth area of the market
and in the light of several other Internet companies who have yet to show a profit, yet
have enormous market valuations."
"We are delighted to have achieved these results, which help establish us as a
dominant player in the Asian marketplace and sets the stage for an exciting year in 1999,"
added Tobin. "The Board of Directors decided that a stock split at this time would allow
more investors to make an affordable entry level investment into the company while it still
trades on the OTC Bulletin Board."
The audited results revealed a tangible net worth for the company of $4,114,547 on
total assets of $4,764,560. "This is important for us as we are presently in the process
of preparing a registration statement on Form 10-SB, with our intent to apply immediately
for granting of its listing and trading on the NASDAQ Small Cap Market," Tobin stated.
ZiaSun's recent acquisition of its third subsidiary, Online Investors Advantage Inc.,
(OIA) will provide additional value and support to the ZiaSun umbrella of companies. OIA
is the largest company in its specific industry, and is the market leader in educating the
US public regarding the benefits, risks, and required skills for effectively trading stocks
on the Internet.
OIA is growing at an exponential rate, and is projecting 1999 revenues of $15,000,000
with $2,500,000 in earnings. These figures are for OIA's US operations only, and do not
take into account the international potential where ZiaSun has its core operations. ZiaSun
is now projecting $5 million in net profit for 1999, including the contribution from OIA.
ZiaSun's primary Internet services currently operating are: Swiftrade
(www.swiftrade.com), Momentum Finance (www.mfinance.com), PINmail (www.pinmail.com),
MediaHits (www.mediahits.com), Search Dragon (www.searchdragon.com) and Online
Investors Advantage (www.i-advantage.com).
Note: Any statements released by ZiaSun Technologies Inc. that are forward-looking
are made pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Editors and investors are cautioned that forward-looking statements
invoke risk and uncertainties that may affect the company's business prospects and
performance. These include economic, competitive, governmental, technological and other
factors discussed in the statements.
For more information please contact our Investor Relations Department at
800/773-7317.
--30--AMP/se*
CONTACT: ZiaSun Technologies, Inc.
Investor Relations, 800/773-7317
www.ziasun.com
KEYWORD: CALIFORNIA INTERNATIONAL ASIA PACIFIC
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS COMED
INTERACTIVE/MULTIMEDIA/INTERNET |
