The FACTS remain the same. You may be disgruntled and in my opinion, a class loser, but the facts remain the same.
"SOLANA BEACH, Calif.--(BUSINESS WIRE)--May 17, 2000-- ZiaSun Technologies, Inc. (OTCBB:ZSUN - news; www.ziasun.com), a diversified Internet holding company, today reported exceptional operating results for the quarter ended March 31, 2000. The Company also announced it cleared comments with the SEC on its Form 10-SB Filing On May 12,
2000, and will now submit its application for listing on the American Stock Exchange.
ZiaSun's net sales for Q1-2000 increased more than 1536% to $14,498,361 from $885,871 in Q1-1999. First-quarter gross
profit increased 1326% year-over-year to $7,023,447 with a solid 48% gross margin. Q1-2000 fiscal results were very
profitable with income before taxes of $4,244,450, or $0.20 EPS EBITDA, compared to $0.01 EPS EBITDA in Q1-1999.
The large increase in Q1-2000 net sales over Q1-1999 net sales was primarily due to the acquisition of OIA, which was not a subsidiary of the Company in Q1-1999.
As of March 31, 2000, the Company had $16,801,667 in cash and receivables, total current assets of $18,497,113 and
$136,897,395 in total assets. The increase in current assets at March 31, 2000, over March 31, 1999, is primarily due to the increase in cash from $886,812 to $15,734,397, an increase of $14,847,585 or 1674%. ZiaSun also reported no long-term debt and $124,880,579 in total stockholders' equity at the close of Q1-2000.
``We achieved tremendous revenue and earnings growth for the quarter ended March 31, 2000. Furthermore, on an
annualized basis sales and net income continue to grow in Q2-2000,'' stated Allen D. Hardman, ZiaSun's President and CEO.
``As an integral part of our growth strategy, the Company will continue targeting selective acquisitions and/or strategic alliances, which will strengthen its operations and help enable the Company to meet its growth objectives. As we prepare for expansion into Europe in the near future, and other parts of the world later this year, we believe such key acquisitions and alliances will play a major role in maintaining the Company's profitable growth and development,'' Hardman added.
``Management recognizes there were some concerns on the part of its shareholders while ZiaSun was in the process of clearing SEC comments, and extends its sincere appreciation to its shareholders for their continued support during this period,'' Hardman commented." |
