ETCH (Elite Technologies, Inc)
Elite Technologies Releases Update of Acquisition Schedule
ATLANTA--(BUSINESS WIRE)--June 13, 2000--Elite Technologies, Inc. (OTCBB:ETCH - news) announced today that it is
planning to close pending acquisitions ahead of schedule and add new acquisition targets to the current quarter's schedule.
To date, Elite has completed the acquisition of AMG, Ltd. and AC Travel, Inc., in the Internet Kiosk and travel industries respectively, with combined projected
revenues of nearly $25 million. The acquisition of Telediscount Company, a provider of prepaid telecommunications services, is scheduled to close at the end of
June. Telediscount had 1999 revenues exceeding $22 million. In addition to the above, Elite plans further acquisitions in the telecommunications space, most likely in
prepaid transaction processing, Internet appliances and related fields.
Scott Schuster, President of Elite Technologies, said: ``We are pleased that our acquisitions are either on or ahead of schedule and that Elite's strategy to become a
leading provider of prepaid telecommunications services and consumer specific content is being achieved. In the upcoming weeks Elite will be providing more details
regarding this strategy, one that focuses on profitability and shareholder value.''
Elite Technologies provides Internet services through Elitetech.Com, which provides web hosting, web development, and e-commerce services on the Internet.
Elite's other two divisions, Elite Integration and Workstream Staffing provide custom software development, integration and implementation, and technical staffing
augmentation services.
Elite Technologies is also an integrator and reseller of Eastman Software and a premier partner with Hewlett Packard. Products through Eastman include document
imaging, workflow and COLD (Computer Output to Laser Disc).
AMG, a company based in the Atlanta area providing Internet kiosks to the hotel, airport, entertainment and other industries, uses a unique system to provide
internet access to its clients. The kiosks, which allow the user to browse the Internet, retrieve email, and other Internet based activities on a pay by minute basis, uses
a proprietary software system developed and owned by AMG. AC Travel offers travel services to corporate and individual clients with an emphasis on foreign
nationals living in the United States.
Elite Technologies Announces Revenue Projections for FY 2001
ATLANTA--(BUSINESS WIRE)--May 18, 2000--Elite Technologies, Inc. (OTCBB:ETCH - news) announced today that its
core business and wholly owned subsidiaries are projecting over $25 million in revenue for fiscal year 2001. The period, from
June 2000 to May 2001, is anticipated to deliver an EBITDA of $5.2 million. Of the $25 million in projected revenue, $16 million is expected from AMG, the
Company's wholly owned subsidiary offering Internet kiosk solutions. $12 million of that amount is already under contract. AC Travel, an established and cash
flowing entity in the travel business, projects $6 million in revenue during FY 2001. The remainder of the revenue will be from Elite's core integration, staffing and
web development units.
Jason Kiszonak, VP for Public Relations said, ``Much progress has been made by Elite to complete acquisitions that contribute positively to the bottom line of the
Company. In the near future, 8k filings and consolidated financials will be made available detailing these acquisitions. It is our goal to keep our expanding shareholder
base informed about these exciting developments at Elite.''
Elite Technologies provides Internet services through Elitetech.Com, which provides web hosting, web development, and e-commerce services on the Internet.
Elite's other two divisions, Elite Integration and Workstream Staffing provide custom software development, integration and implementation, and technical staffing
augmentation services.
Elite Technologies is also an integrator and reseller of Eastman Software and a premier partner with Hewlett Packard. Products through Eastman include document
imaging, workflow and COLD (Computer Output to Laser Disc).
AMG, a company based in the Atlanta area providing Internet kiosks to the hotel, airport, entertainment and other industries, uses a unique system to provide
internet access to its clients. The kiosks, which allow the user to browse the Internet, retrieve email, and other Internet based activities on a pay by minute basis, uses
a proprietary software system developed and owned by AMG. AC Travel offers travel services to corporate and individual clients with an emphasis on foreign
nationals living in the United States. |
