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Microcap & Penny Stocks : PLCO Internet collectables, childrens toys...etc -- Ignore unavailable to you. Want to Upgrade?

To: Al's Fun who wrote (936)	11/12/1999 4:00:00 PM
From: Dave Gore	Read Replies (1) \| Respond to of 1296

** NEW INVESTORS: Review this Press Release MORE DD ON PLAY CO. TOYS AND UPCOMING IPO (PR NEWSWIRE) Play Co. Toys & Entertainment Corp. Announces Signing of Inv Play Co. Toys & Entertainment Corp. Announces Signing of Investment Agreement to Take Subsidiary Public OTC Bulletin Board SYMBOLS: Common Stock - PLCO Series E Preferred Stock - PLCOP Series E Preferred Stock Warrants - PLCOW SAN MARCOS, Calif., July 29 /PRNewswire/ -- Play Co. Toys & Entertainment Corp. (OTC Bulletin Board: PLCO, PLCOP, PLCOW) ("Play Co. Toys" or the "Company" for Play Co. Toys and subsidiaries collectively) announced today that it has entered into an investment agreement with an investment banking firm to take public its subsidiary, Toys International.COM, Inc. ("Toys International"), in an initial public offering. The investment agreement anticipates IPO proceeds of approximately $20 million to $25 million through the sale of 22% of Toys International. The investment agreement calls for the IPO to occur in approximately 90 days. Additionally, as part of the investment agreement the investment banking firm participated in a $2.8 million pre-IPO private equity placement in Toys International. The company has already received those funds. Toys International currently operates 19 of the Company's 26 stores as well as its Internet operations. The Company posted net income of $140,868 in the year ended March 31, 1999 compared to a loss of $2,054,470 in the prior year. This represented an improvement of $2,195,338. Play Co. Toys posted sales of $34,371,230 for the March 1999 year, an $11,802,703, or 52.3%, increase over its prior year sales of $22,568,527. Richard Brady, President of the Company states, "We are very excited about this pivotal development in our Company's progress. We plan to use the proceeds of the recent private equity placement and of the upcoming IPO to finance a significantly upgraded e-commerce operation. We are working with two prominent Internet consulting firms to develop and upgrade our worldwide Internet web sites to what we believe will be a world class level. We are at present preparing and enhancing three unique and different children's toy sites with a fourth to follow shortly. We expect to go live with our unique sites worldwide in September and October, in time to participate in the Holiday season." Mr. Brady went on to state, "We also plan to use the proceeds of these financings to help support our current store expansion program in high traffic shopping malls. At present, we have signed leases to open ten new national locations through the end of the year 2000. We will build a major theme store in each location. We also would like to note that our recently opened store in the Venetian Resort & Casino in Las Vegas has surpassed our expectations to date in its daily sales level." Play Co. Toys is a toy retailer with 26 stores located in six states. The Company operates under the Play Co. Toys, Toys International and Toy Co. tradenames. Play Co. Toys specializes in offering educational, specialty, collectible, specialty imported and traditional toys. Statements contained in this press release which are not historical facts may be considered forward looking information with respect to plans, projections, or future performance of Play Co. Toys as defined under the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from those projected. SOURCE Play Co. Toys & Entertainment Corp. -0- 07/29/99 /CONTACT: Play Co. Toys, 760-471-4505 ext. 108, fax 760-471-9624/ /Web site: playco.com (PLCO PLCOP PLCOW)