GRPV: Sorry, here's the release
Group V Addresses Concerns About the Recent Price Decline in Shares
Business Wire - June 08, 1998 08:44
%GROUP-V GRPV %CALIFORNIA %COMPUTERS %ELECTRONICS %TELECOMMUNICATIONS %ENTERTAINMENT V%BW P%BW
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SAN FRANCISCO--(BUSINESS WIRE)--June 8, 1998--Group V Corporation (OTC BB:GRPV) today commented that they know of no reason why the price of their Company's stock has recently declined.
Joseph Monterosso, president and CEO, commented that, "The Company has reported in its latest 10Q that it has begun generating revenue and expects to report approximately $2.5 to $3 million in cash flow for its fourth quarter of FY '98.
"We are confident that our marketing and distribution channels promoting the Company's HitLoTTo(TM) program, combined with activities from our four other subsidiaries will result in considerable revenue and profit during the next fiscal year.
"Since new management has taken over, many new and exciting changes have taken place at the Company," Monterosso continued.
Highlighting the Company's recent achievements:
National Pools Corporation (NPC)
Under the control and management of Group V's first subsidiary, National Pools Corporation (NPC), the Company has successfully completed production and introductory preview of the HitLoTTo Club Card program. Enhancements and refinements have been made to the program which is scheduled for nationwide market introduction in the third quarter. (www.hitlotto.com)
Premier Plus, Inc. (PPI)
The Company's network marketing subsidiary, Premier Plus, now supports 1000 active marketing representatives currently distributing the following products and services:
The Premier Plus Travel package offering personal travel discounts and courtesies on trips. The package also pays commissions on the travels of others.
The Premier Plus Golf Series providing the finest in equipment and apparel, travel discounts, golf vacations and more.
The Premier Plus Telecommunications package offering a diverse selection of customized prepaid calling cards, one plus long distance, personal communication cards and the HitLoTTo Club Card.
Academy Network Services, Inc. (ANSI)
The Company completed the acquisition of assets from Universal Network Services (UNS) subsidiary, ArkTel, and has formed a new wholly owned subsidiary: Academy Network Services. As a licensed long distance carrier, ANSI capacity supports over 20 million minutes of monthly long distance traffic as additional revenue from a variety of outside contracts.
Through Academy, Group V is now able to provide the full telecommunications, customer service and fulfillment support of the HitLoTTo program in addition to similarly servicing the telecommunications and support service needs of the Company's other subsidiaries.
Signature Communications Network
This wholly owned subsidiary functions as a cooperative marketing company, currently marketing turnkey telecommunications operations service to state lotteries. Anticipating revenue through its branded Speak Easy Service, Signature provides activated PINs and telecommunications support to state lotteries' instant win ticket operations.
LottoWorld Magazine
The acquisition of this brand name is an important part of the HitLoTTo marketing strategy to create both interest and awareness in the product. LottoWorld magazine provides the forum to deliver Club news, updates and information on the HitLoTTo program, while simultaneously building a dedicated base of member subscribers.
Publication of the magazine's premier edition mid-June will drive the marketing efforts to include the production of a 30 minute infomercial to be aired to 60 million households nationwide within 90 days. In addition to the HitLoTTo Club Card sales, the magazine expects an active subscriber base of between 30-50,000 by the end of the year. (www.lottoworldmagazine.com)
Summary
The Company has now completed its planned acquisition strategy and has been able to fully integrate and cross promote the respective products and services of each wholly owned subsidiary. The Company now focuses on fully implementing the HitLoTTo business plan through nationwide distribution of the product during the next 90 days.
Supported by LottoWorld magazine, national television and targeted direct marketing programs, the HitLoTTo Club Card will be available through a variety of distributors and agents.
LottoWorld magazine has the potential to become the preeminent lottery players reference guide providing key editorial, statistics and highly sought after lottery related products, including the HitLoTTo Club Card. Marketing plans include development of a players association whereby members will be able to take advantage of the Company's many diverse products and services, including long distance and prepaid phone services.
Since assuming control and management of the Company from NuOasis Gaming, Group V has succeeded in building both a solid telecommunications company and a network of synergistic businesses currently providing revenue.
"We have successfully established the requisite foundation in just 12 months," commented Monterosso, "and now anticipate the magnitude of this accomplishment will soon be reflected in the valuation of the Company's stock."
For more information see www.grpv.com or write investor relations, Group V Corporation, 550 15th Street, San Francisco, CA 94103.
Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence upon third-party suppliers, intellectual property rights and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.
CONTACT: Group V Corporation
John Steward, 415/575-0222
www.grpv.com
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