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Non-Tech : Palweb Corp (PAEB) -- Ignore unavailable to you. Want to Upgrade?

To: don denson who wrote (2446)	4/18/2000 1:48:00 PM
From: SCOOBEY-DO	Read Replies (1) \| Respond to of 2512

PALWEB CORP files 0229 qtr 10-Q. Reports $(0.01) EPS. Excerpted from 10QSB filed on 04/18 by PALWEB CORP: RESULTS OF OPERATIONS GENERAL TO ALL PERIODS Sales for the periods ended February 28, 1999 are occasional sales of prototype plastic pallets of a design which did not meet development standards. Sales for the periods ended February 29, 2000 represent initial sales of the Company's tested product. However, PalWeb has not commenced commercial production of plastic pallets. As of February 29, 2000, PalWeb has for the most part completed development of its plastic pallet to compete with wood pallets and is in the final stages of completion of the prototype injection molding systems to produce plastic pallets for commercial sales. PalWeb has obtained short-term financing to meet its short term working capital needs. PalWeb's new pallet design has been subjected to standard industry tests known as ASTM (American Society for Testing and Materials) Standard D1185-98a, a strength test, and D 4728-91, a vibration test, conducted by Container Technologies Laboratory, Inc., Lenexa, Kansas, an independent testing facility. Container Technologies Laboratory certified PalWeb's plastic pallet as having passed the above referenced tests. The testing procedures found the pallet to be stronger and more versatile than the typical hardwood pallet. Production utilizing prototype production equipment is scheduled to begin about April, 2000, starting at 1,000 pallets per month and increasing to 4,000 per month by about July, 2000 upon completion of a redesign of the heating system which controls the temperature of the raw material. The Company hopes to increase commercial production capacity as soon as practical and is currently seeking funding needed to acquire the necessary production equipment. (End of item excerpt.)