To: Mr. Jens Tingleff who wrote (2904 ) 12/11/1997 3:09:00 PM From: Pagan Read Replies (2) | Respond to of 4594
****OFF TOPIC***** (WOOD) Just as an example on How Management should run their business using NEWS WIRES. Thursday December 11, 2:22 pm Eastern Time Company Press Release Madera International Inc. Announces Recent Decline in the Price of Company Stocks has no Bearing in the Present or Future Operations of the Company CORAL GABLES, Fla.--(BUSINESS WIRE)--Dec. 11, 1997--Madera International Inc. (NASDAQ BB:WOOD - news) announced that the recent decline in the price of the company stocks has no bearing in the present or future operations of the company. Madera's fiscal year closes on each March 31. In the second quarter of the present fiscal year that closed on Sept. 30, the company posted a revenue of $1,183,639 with a net profit of $451,651, nearly one cent per share. This result makes the company profitable, placing the bottom line in the black, in the middle of the fiscal year for the first time in the company's history, eliminating any and all previous losses. Madera is a full reporting and full disclosure NASDAQ Bulletin Board company that has always consistently provided filings and disclosures on time, in compliance with the rules of the Securities Exchange Commission. Madera's management feel very strongly that they will have a profitable fiscal year 1997-1998. The company's CEO, Ramiro Fernandez-Moris, stated that he fails to comprehend the reasoning behind the company's recent unsatisfactory market behavior. On Dec. 10, the company traded only 87,000 shares and lost 10% of the closing price. While back on Oct. 7 of 1997, the company traded 422,900 shares with a bid of 0.09 and asking price of 0.10. Since Oct. 27 to date Madera has lost 50% of its market value, without any explicable or obvious reason whatsoever known. Madera has been substantially healthier each quarter and it continues financially sound, consistently incrementing its production volumes, revenues and profits. Except for historical matters contained herein, statements made in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Contact: Madera International Inc., Coral Gables Ramiro Fernandez-Moris, 305/774-9411