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Microcap & Penny Stocks : PFCK Gets $50 million cash infusion -- Ignore unavailable to you. Want to Upgrade?

To: TheDad who wrote (562)	7/29/1999 10:18:00 AM
From: jeff c.	Read Replies (1) \| Respond to of 716

Thursday July 29, 8:03 am Eastern Time Company Press Release Peacock Financial Files 10-Q: Posts $.01/Share Profit Versus $.02/Share Loss for Second Quarter Reports Second Consecutive Profitable Quarter SAN JACINTO, Calif.--(BUSINESS WIRE)--July 29, 1999--Peacock Financial Corp. (OTC BB:PFCK) announced that it has filed the Company's Form 10-Q with the Securities and Exchange Commission for the second quarter ended June 30, 1999. Selected results for the quarter reported that Peacock Financial earned net, after tax, income of $190,053 or $.01 per share compared with a net loss of $345,000 or $.02 per share for the quarter ended June 30, 1998. Peacock President Steven Peacock, stated, ''The second quarter's results are significant in that not only did we produce a bottom line profit, but were able to reduce corporate debt and operating overhead by approximately $475,000.'' Also significant is the fact that this is the second consecutive quarter the Company has posted positive earnings. Substantially all of the revenues for the period were derived from a restructuring of the Company's investment in San Diego-based Solutions Media Inc. Solutions Media is an Internet company currently developing Spinrecords.Com. Spinrecords.Com is an online music e-commerce Web site similar to MP3.Com (NASDAQ:MPPP - news) which recently went public. Peacock Financial owns 800,000 shares of Solutions Media's common stock and is intending to dividend a portion of these shares to its shareholders in the near future, prior to an intended IPO. A record date for this action has not yet been established. Peacock Financial is a fully reporting investment holding company registered with the SEC as a Business Development Company under the Investment Act of 1940. Current holdings include investments in Real Estate, and in Investment Banking, specializing in professional sports and the Internet.