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Microcap & Penny Stocks : LINC - Plenum Communications (was PLNM) -- Ignore unavailable to you. Want to Upgrade?

To: mtgman who wrote (790)	11/16/1999 11:38:00 AM
From: jad	Read Replies (1) \| Respond to of 837

LION Inc./Lioninc.com Announces Financial Results for 3rd Quarter 1999 SEATTLE, Nov. 16 /PRNewswire/ -- LION Inc., formerly Plenum Communications, Inc., (OTC Bulletin Board: LINC - news) and its wholly owned subsidiary, Lioninc.com, a leading developer of Internet products and services for the mortgage industry, announced today financial results for the third quarter of 1999. Revenue for the third quarter ended September 30,1999 was a record $1,174,000, an increase of 127% over revenue of $517,000 for the third quarter of 1998. Revenue for the nine months ended September 30, 1999 was a record $2,838,000, an increase of 123% over revenue of $1,271,000 for the same period in the prior year. Net losses for the third quarter were $433,000 as compared to $381,000 for the same quarter in the prior year. As a percent of sales, net losses for the third quarter improved to 37% from 74% for the same quarter in the prior year. Net losses for the nine months ended September 30, 1999 were $1,053,000 as compared to $904,000 for the comparable period in the prior year. As a percent of sales, net losses for the nine months ended September 30, 1999 improved to 37% from 71% for the same period in the prior year. Sam Ringer, President/CEO of Lioninc.com stated, ``I am very pleased that our sales have continued to double and our losses as a percent of sales has declined.'