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Microcap & Penny Stocks : HITSGALORE.COM (HITT) -- Ignore unavailable to you. Want to Upgrade?

To: bob sims who wrote (3596)	8/23/1999 6:09:00 PM
From: Tom Terf	Read Replies (1) \| Respond to of 7056

So bob sims .. what did you think of the 10-Q content ?

To: bob sims who wrote (3596)	8/23/1999 6:28:00 PM
From: BORIS BADENUFF	Read Replies (3) \| Respond to of 7056

techstocks.com Hitsgalore.com Files Quarterly Report RANCHO CUCAMONGA, Calif., Aug. 23 /PRNewswire/ -- Hitsgalore.com, Inc., (OTC Bulletin Board: HITT) has announced that the Company is filing its Form 10-Q for the period ended June 30, 1999. As filed with the SEC, Hitsgalore.com reports, in its unaudited Statements of Operations, Gross Revenues of $1,436,200 for the second quarter. The Company reports Net Income after amortization, depreciation and taxes of $136,803 for the second quarter and $264,931 for the six months ended June 30, 1999. Because Hitsgalore.com only began operations last fall, there are no comparable figures for the same quarter last year. However, this it the third consecutive period in which Hitsgalore.com has reported profits. The Company was able to report an increase in net profits from the first quarter, even though its Selling, General and Administrative Expenses increased nearly six-fold. The dramatic increase in expenses was the result of the Company spending heavily on the expansion and development of its core technology, nearly doubled its sales and administrative staff to thirty people, and conducted a national radio advertising campaign and purchased website advertising banners from other internet companies. The Company also announced that, although it has not yet engaged new auditors, it continues its discussions with potential firms that will assist the Company in meeting all the requirements for a Nasdaq/Amex listing. According to Dorian Reed, Chairman of the Board, "We are pleased with our growth and profitability. The acceptance of our business model by customers and user of our web site has been most encouraging. Hitsgalore.com's is about to launch another new Portal Service, and it should be ready by September 1, 1999, we will release additional news this week. We plan to continue to grow and offer our customers and partners more services and opportunities. We also want everyone to know that we are continuing to aggressively proceed with our lawsuit against those making false and malicious allegations and statements about us. It is a shame that such people and institutions have sought to manipulate the perception of public companies. Never the less Hitsgalore.com is making money, customers like the value they are receiving and users of our website love getting valuable Portal Service free." Hitsgalore.com (http://www.hitsgalore.com) generates revenue and profit from its unique business model of giving away free banners, lifetime banner placement, and other Portal Services. The Company generates revenue from its Keyword Bid & Rank program, sponsorships of Portal Services, and Local City Editions featuring local content. Hitsgalore.com strives to provide porn-free searching and does not accept or encourage any porn or adult-content listings on its site. Financial statements in this press release other than historical facts are "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. Hitsgalore.com, Inc. intends that such statements about the Company's future expectations, including future revenues and earnings, and all other forward-looking statements are subject to the safe harbors created thereby. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the company's actual results could differ materially from expected results. -------------------------------------------------------------------------------- SOURCE: Hitsgalore.com, Inc. CONTACT: Investor Relations for Hitsgalore.com, Inc., 800-300-5388, investor@hitsgalore.com