To: Big Dog who wrote (29934 ) 7/30/1998 2:46:00 PM From: Shoot1st Read Replies (1) | Respond to of 34592
Here is a gift from a mutual aquaintance . I think you inquired about it yeaterday. Thursday July 30, 7:02 am Eastern Time Company Press Release ComTech Consolidation Group, Inc., Announces Acquisition of Golden Age Healthcare Inc and Updates Forecast For 3rd Quarter '98 Acquisition Will Add Approximately $3.5 Million in Sales Revenue Per Quarter HOUSTON--(BUSINESS WIRE)--July 30, 1998-- ComTech Consolidation Group, Inc., (OTC BB:CCGI - news) today announced the acquisition of Golden Age Healthcare, Inc. (GAHI), a Louisiana corporation. The transaction was consummated by ComTech exchanging 11,000 shares of its Preferred Stock for all of the capital stock of GAHI. GAHI is a home health care provider headquartered in Baton Rouge, La. with a dominant market presence through out Louisiana, and a viable market presence in Dallas. ComTech stated that the roll up acquisition of GAHI under its Baton Rouge, based subsidiary, Professional Management Providers, Inc. (PMP), results in PMP now having key contiguous operations in Medicare/Medicaid territories through out Louisiana, and will add approximately $3.5 million in sales revenue per quarter. The acquisition also gives ComTech/PMP a firm foothold in the Texas market, where it plans further expansion. ComTech also stated, that it has now updated its third quarter sales revenue forecast from $7.1 million to $10.6 million, while earning approximately $1.0 million EBIT, which translates into roughly $.04 per share in net earnings for the quarter. ComTech Consolidation Group, Inc. is a Houston based consolidation/acquisition company. Presently, ComTech is focusing on two industries, specialty medical service providers, such as partial hospital health care provider companies for mental outpatients and communications/network technology companies, primarily in the Internet area. Statements regarding financial matters in this press release other than historical facts are ''forward-looking statements'' within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such statements about the Company's future expectations, including future revenues and earnings, and all other forward-looking statements be subject to the safe harbors created thereby. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results. Contact: M&A West, Inc Scott Kelly, 650/588-2678 www.mawest.com