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Microcap & Penny Stocks : Xtranet Systems Inc. (XTRA) -- Ignore unavailable to you. Want to Upgrade?

To: GARY P GROBBEL who wrote (60)	8/2/1999 9:42:00 AM
From: GARY P GROBBEL	Read Replies (1) \| Respond to of 69

Started noticing this one about 10 days ago at .80...now ticking at 1.50 this am on this release...don't know if it will hold but up .28 now: (BSNS WIRE) XtraNet Reports Revenue Growth For Second Quarter XtraNet Reports Revenue Growth For Second Quarter Business Editors and High-Tech Writers Santa Ana, Calif.--(BUSINESS WIRE)--Aug. 2, 1999--XtraNet Systems Inc. (OTC BB:XTRA) the Santa Ana risk management and credit card processing company, Monday announced that for the second quarter of the 1999 fiscal year the company had consolidated total revenues from processing operations of $576,540, or $.05 per share. During the quarter total revenues rose from $178,428 in May to $301,966 in June. XtraNet anticipates continued growth in total revenues as it continues to expand the number of high volume Internet Merchants that it services and its International Merchant Banking affiliations. "We are very pleased with the continuing growth in revenues from an increasing number of high volume Internet Merchants," said William L. Shaw, chairman and chief executive officer of the company, "and we expect, with the anticipated opening of our Bermuda operations, and the expansion of our operations in Mexico to see continued revenue growth for the company in the third quarter." XtraNet is a provider of e-commerce credit card processing, proprietary risk management services, and stand alone financial processing solutions to Internet Merchants and Offshore Financial Institutions throughout the world. Having begun as a developer of extranet systems, XtraNet has now moved into the front lines of e-commerce by offering proprietary credit card processing services uniquely suited to high volume Internet Merchants worldwide. Within its International Network, XtraNet has operations in the Caribbean, Mexico and the United States, and will soon be establishing operations in Bermuda, Latin America, South America, Europe and the United Kingdom. XtraNet projects that it will process a minimum of $500 million in total credit card transactions in 1999. The statements discussed in this news release include forward-looking statements (as that term is defined in the Private Securities Reform Act of 1995) that involve a number of risks and uncertainties. These include the company's historical lack of profitability, issues associated with International Transactions, possible regulation and/or taxation of e-commerce, the need to manage the company's growth, and the need to raise funds for operations. --30--JV/np* JS/np CONTACT: XtraNet Systems Inc., Santa Ana Lynn Carlson, 714/430-9200 (Investor Relations) Fax: 714/430-9210 E-mail: info@xtrasystems.com KEYWORD: CALIFORNIA INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS COMED RETAIL INTERACTIVE/MULTIMEDIA/INTERNET EARNINGS Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: businesswire.com * end of story *