CRNC.."ANNOUNCEMENT WILL BE OUT ON MONDAY RE: FINANCIALS"
With a float of only 978,000 it wont take much to really move this stock. Also, rumor has it that another acquisition is getting ready to be finalized, this acquisition combined with the other acquisitions which previously took place will bring $5 million in assets.
Also, the PR campaign is just beginning to gear up.
Mr. Whitman is taping a TV investor program and it is suppose to air tonight.
The name of the program, "INVESTORS WEEKLY" is a financial magazine.
The primary carrier of "INVESTORS WEEKLY" with Keith Mills is PAX-TV.
It is a new network recently launched by Paxson Communications (symbol PAX:AMEX). The PAX TV markets, which will initially air INVESTORS WEEKLY, are the following:
Birmingham
Boston
Little Rock
Providence
Salt Lake City
Scranton, PA
Tulsa, Ok
Washington, D.C.
West Palm Beach, Fl
Contact Person: Melannie O'Connor
Tel: (561) 833-1813
CHRONICLE COMMUNICATIONS - OTC BB: CRNC
CRNC (with only a 978k float) is a fully reporting company that is on the move to NASDAQ Small Cap. On September 30, 1998, Chronicle acquired Bright Now Inc., and Southern Paper & Converters Inc., both of Tampa, Florida. Chronicle's new subsidiary, Bright Now Inc., is a full service commercial printing operation which has the printing presses necessary to print Chronicle's own product line. The combined acquisitions have over 70,000 square feet of commercial buildings, two cold wet web presses, one heat set press and one large sheet fed press. Both plants have complete prepress from computer to film capabilities. Chronicle can now print all types of newspapers, print and bind books, magazines, brochures and fliers. These acquisitions have in excess of 5 million dollars and will put Chronicle very close to NASDAQ Small Cap qualifying standards.
The company plans to add press capacity to both plants, restructure the entire debt of the combined companies and aggressively market it's web services. Chronicle's revenue growth of 310% for the year ended September 30, 1998, will be the minimum standard set for 1999. Currently the company plans for a 335% increase in revenue for the year ended September 30, 1999, or total revenues of $6,014,682.
The company plans to introduce eighteen additional Georgia Chronicle editions in selected counties across Georgia which management has determined have sufficient commercial and economic bases to support several print media products. Each county in the Company's expansion plan has an aggressive Industrial Development Authority which has an history of successful recruitment of new business and industry. Management believes the company can quietly expand into a new market while introducing commercial advertisers and readers to the concept of high quality, low priced print advertising. The company's goal is to open three new markets per month.
Chronicle Communications has only been public since August 19, 1998, but is already getting the attention of the investment community, due to the aggressiveness of CEO, John Whitman, Jr., the company's founder. He has over 15 years experience in the publishing industry. Prior to founding the company, Mr. Whitman was president of Gray communications Systems Inc., Georgia shopper subsidiary after its acquisition of Phillips Publishing, Inc., in Tallahassee for $1.45 million, a company which Mr. Whitman built from negative cash flow to positive cash flow in 28 months. Mr Whitman was also president of a Gray subsidiary, The Rockdale Citizen Publishing Company, which published two daily newspapers. Mr Whitman, turned a million dollar loss per year at the Citizen to positive cash in just 63 days.
CEO: John Whitman, JR.
PRES: Ken McCleave
CFO: Ron Mallett
Phone: (912) 377-2111
Fax: (912)377-7748)
Employees: 35
Outstanding Shares: 2,727,780
Float: 978,000
|
