To: Joe Copia who wrote (9725 ) 11/10/1998 9:17:00 AM From: Retaylor Read Replies (1) | Respond to of 25711
CRNC..News Out..Year End Revenues up 310% Chronicle Communications Announces Year-End Revenues Up 310% PR Newswire - November 10, 1998 08:30 Jump to first matched term CAIRO, Ga., Nov. 10 /PRNewswire/ -- Chronicle Communications (OTC Bulletin Board: CRNC) announces revenues for year ended September 30, 1998 are up 310% over 1997. Chronicle's projected revenue for the year ended September 30, 1999 is $6 million, with an anticipated earnings of $.30 per share. Chronicle, on October 5, 1998 signed a binding letter of intent to acquire the assets of a Clearwater, Florida-based commercial heat-set printing press business named "Sun & Fun" for $1.5 million and assets. "Sun & Fun," while in operation, had revenues in excess of $12 million annually. "Sun & Fun" assets are expected to appraise in excess of $3 million. Through this acquisition, Chronicle will be acquiring the m-1000 press. Dave Kelly, former Head Pressman for "Sun & Fun" stated, "If Chronicle were to purchase and install the m-1000 press new and get EPA approval, they would have to invest over $7 million." Chronicle is expected to close on the acquisition in the next couple of weeks. CRNC President & CEO John Whitman enthusiastically stated, "This acquisiton positions CRNC to be a dominant force in the commercial printing industry in Florida, Georgia and Alabama and allows Chronicle Communications to expand its company-owned product line very rapidly. Virtually nothing can hold us back now!" The company plans to add press capacity of both plants and aggressively market both its printing capabilities and web services. Chronicle's revenue growth of 310% will be a 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 million. This is not an offer to sell any securities of Chronicle Communications, Inc. The securities may be offered only by Chronicle Communications, Inc., and/or appropriately registered broker-dealers who may have agreed to market Chronicle Communications, Inc.'s Securities through Chronicle Communications, Inc.'s propectus/placement memorandum. Wall Street Concepts Group, Inc. is not such a registered broker-dealer. The information contained herein has been provided directly by Chronicle Communications, Inc. to Wall Street Concepts Group, Inc. and should not be construed as investment advice. In addition, the information contained in this report is not intended to be a complete discussion of information regarding some of its current and/or intended business activities. Wall Street Concepts Group, Inc. has not conducted any due diligence into the company or into any of the representations contained in this report. Wall Street Concepts Group, Inc. has received no cash, as consideration for the preparation and advertisement of this report. In addition, Wall Street Concepts Group, Inc. has a written agreement with Chronicle Communications, Inc. to provide consulting services pursuant to which Wall Street Concepts Group, Inc. is entitled to receive 500,000 shares over a period of one (1) year of free trading common stock as compensation for its services. SOURCE Chronicle Communications /CONTACT: John V. Whitman, President/CEO, Chronicle Communications, 813-248-0100/ (CRNC)