To: Janice Shell who wrote (4094 ) 10/26/1999 5:10:00 AM From: EL KABONG!!! Read Replies (1) | Respond to of 4128
ABFG's Sales Exceed $5,000,000 for the Twelve Months Ended June 30, 1999 for the Internet and Wholesale Divisions Business Wire - October 15, 1999 09:22 DEERFIELD BEACH, Fla.--(BUSINESS WIRE)--Oct. 15, 1999--American Benefits Group, Inc. (ABFG) (Pink Sheets:ABFG) released today their unaudited Sales figures for the twelve months ended June 30, 1999. The unaudited Gross Sales in excess of $5 million were realized from all aspects of the business operations of ABFG. The Gross Margin is estimated to exceed $2.1 million before any writedowns of Research and Development costs. The concentrated sales forecast was achieved from sales in the Wholesale Gem Division. While Internet sales were favorable, the Wholesale Gem Division dominated the Sales segment. The combined numbers will be broken down in detail in the audited financial statements, which will be released in the near future. The management of ABFG is very pleased with the Sales figures for the fiscal period ending June 30, 1999. "This remarkable year end places us in a good position for the upcoming year," stated Jerry G. Mikolajczyk, ABFG President and CEO. "We are expecting a spectacular year coming up as a result of increased mine production of precious stones from Madagascar, as well as increased sales from the Internet Division as a result of our new marketing program. We are excited for the future of the company." American Benefits Group, Inc. is an active and aggressive company that is building and diversifying its portfolio through the development of new operations, the acquisition of profitable organizations, the use of advanced technology, and the maximization of the strengths of its mining and Internet operations. For Further information on this News Release, the Company, or for a copy of the mining presentation, please contact: Jerry G. Mikolajczyk, President & CEO, or Kelly Kellner, Investor Relations Telephone number: 888/533-4555 Fax number: 403/777-1815 Info@abfg.com www.abfg.com This press release contains forward-looking information within the meaning of section 27A of the securities Act of 1933 and section 21E of the Securities Exchange Act of 1934 and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. For those statements, the company claims the protection of the safe harbor for forward-looking statements provisions contained in the Private Securities Litigation Reform Act of 1995 and any amendments thereto. Such forward-looking statements by definition involve risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from the future results, performance or achievements expressed or implied by such forward-looking statements. In particular, there is no assurance that reserves, production, pricing levels or other factors pertaining to the mining, manufacturing and retail operations will be sustained at the expected rates or levels over time. Discussions of factors, which may affect future results, are contained in the company's recent filings. Under no circumstances does this Press Release constitute an offer to sell or a solicitation of an offer to buy the securities of the company described in this Press Release in which such offer, solicitation or sale of securities would be unlawful prior to registration, qualification or filing under the securities laws of any jurisdiction. CONTACT: American Benefits Group, Inc. Jerry G. Mikolajczyk or Kelly Kellner, 888/533-4555 Fax number: 403/777-1815 Info@abfg.com www.abfg.com