To: Riley G who wrote (25917 ) 12/11/1997 8:00:00 AM From: tonto Respond to of 55532
Excellent question you could help with: Fort Lauderdale, Florida Wednesday September 4,1996 Olympus Ventures Inc.(OTCBB-OLPV)announced today that Gary Morgan's restructuring and aggressive business plan for Olympus Ventures, Inc. was given a major vote of confidence by the new management team. Roland Bretton, President of Olympus Mills, consulting accountant Joel Marcus, Mr. Morgan, and several other key executives agreed to work for shares in lieu of salaries. This strong commitment displayed by the management team should add to share holder confidence. The recent surge of incoming orders spawned by endorsements from Wal-Mart and GNC has resulted in the Nicaragua, Dominican Republic and Hialeah, Florida plants being booked to capacity until the end of July, 1997. Mr. Morgan spent the labor day weekend in Jamaica where Olympus Ventures shipping line CEA is finishing the refurbishing of their flagship "Pilar del Caribe." "By promoting the shipping line, our presence will be felt throughout the Caribbean, says Mr. Morgan. Owning CEA gives us the competitive edge we need in the garment manufacturing business. Consistently visiting all of the major ports gives us an accurate pulse of the market place, which greatly influences the pace at which we want to grow. I think North America is just beginning to take advantage of the many resources available to us in the Caribbean and Central America." Olympus Mills USA is a Hialeah, Florida based manufacturer which owns and operates knitting mills, cutting, sewing and finishing factories. They sell to only top apparel companies such as Donna Karan, Bum Equipment and retailers such as Macy's, JC Penney, Wal-Mart, Montgomery Ward, K-Mart and Target Stores Olympus Venture, Inc. Corporate Office USA Hialeah, Florida 33013 Tel:(305)885-4464 Fax:(305)885-4558 There are two important statements made by the company in this release, one that CEA, (the vessel company) is very important to the company strategically, and that the company had invested sums of money to refurbish it. Morgan upon his return it appears was quoted because the past tense used in his statement regarding the vessel. Riley advises that it used to be own by the company. There are two conflicting statements made by the company, one earlier that the vessel could not be found, then months later Morgan is reviewing the refurbishing of it. It would not be written off and scrapped because of the obvious value, so it had to be sold. No announcement is available regarding the sale of this important company. Why not? This is materially important information required to be filed. The second point will be the large revenues we will see in the upcoming financials because of the reported factories running to capacity until the end of July, 1997. No releases were issued stating that there has been any adverse affects with business which would alter the accuracy of the above statement. All three plants are booked to capacity, sales will be tremendous. This would be excellent news for the shareholders.