Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : CHIF - China Food and Beverage, Inc. -- Ignore unavailable to you. Want to Upgrade?

To: T A P who wrote (117)	8/19/1999 1:23:00 PM
From: T A P	Read Replies (1) \| Respond to of 127

China Food and Beverage Announces Second Quarter Results NEW YORK, Aug. 19 /PRNewswire/ -- China Food and Beverage Company (OTC Bulletin Board: CHIF) announced today results of Operations for the three months ended June 30, 1999. Net Sales for the three month period was $3,895,505, Income Before Other Expenses was $1,159,869 and Net Income After Taxes for the period was $54,722. Net Sales, Income Before Other Expenses and Net After Tax Income all increased for the three month period ending June 30, 1999 compared to the prior three month period ending March 31, 1999, as follows: -- Net Sales increased by $2,137,621 -- Income Before Other Expenses increased by $823,885 -- Net Income After Taxes Increased by $100,192 -- For the period reported, Income Per Share was $.01 The Revenues and After Tax Income described are generated from the 55% ownership CHIF has in Anhui Hao Dun Brewery Company, Ltd. James Tilton, President of CHIF stated that, "Since our company took over the brewery in December 1998, our management team has turned around the operations and made it a more profitable enterprise. We are pleased with the results announced today but we are far from satisfied. Our goal is to make our brewery one of China's most profitable while continuing to keep up the tradition of quality and great taste that has always been a Hao Dun legacy." China Food and Beverage Co. is a U.S. holding company whose strategy is the acquisition of regional Chinese breweries that complement its existing business, distribution and product lines. For further information on China Food and Beverage Co., contact Investor Relations at 212-398-7833 or visit the company's web site, chif.net. This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including, without limitation, the ability of China Food and Beverage Co. to accomplish its stated plan of business. Although China Food and Beverage Co. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate and, therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by China Food and Beverage Co. or any other person that the objectives and plans of China Food and Beverage Co. will be achieved. SOURCE China Food and Beverage Co. CO: China Food and Beverage Co.; Anhui Hao Dun Brewery Company, Ltd. ST: China, New York T A P has received 5K shares of restricted stock of CHIF from the company for services provided for a period of 1 year. For a complete write-up on CHIF and other Turn Around Picks and to join free, go to T A P profile for url.