***** NEWS ****
PCBM - Here's a stock we can get in at the bottom with what appears to be a great future! Check their thread on RB & SI
My opinion only
Pinnacle Business Management, Inc.$1.5 Million Bridge Financing Completed; $10 Million SecondaryOffering Planned for Fourth Quarter 1999
March 18, 1999 10:49 AM
CLEARWATER, Fla.--(BUSINESS WIRE)--March 18, 1999--Pinnacle Business Management, Inc. PCBM announced Thursday that they have achieved their goal of $1.5 Million in bridge financing ahead of schedule. With the receipt of a Letter of Commitment from Nika Corporation of West Chester, Pennsylvania, PCBM has closed out its Bridge Financing program.
Eric Bauchman, a private investment banking and management consultant based in Mission Viejo, CA who specializes in working with small, high-growth companies, continues to coordinate the company's funding and strategic planning activities.
"With this key financing goal achieved, Pinnacle Business Management, Inc. has served notice to the investment community that we are here to grow, here to achieve, and here to stay. Our credibility and financial strength is increasing daily. Exciting software is under development, our unique approach to the affinity franchise concept is going to make people sit up and take positive notice, and strategic alliances with other companies are in progress. There's just so much that we can put in one Press Announcement, and there's definitely more good things to come," said Bruce Hall, President of Pinnacle Business Management, Inc.
"Pinnacle will have a decisive, positive impact on both its E-commerce and consumer finance target markets. PCBM's strategy relative to its markets and development will become clearer as we continue to execute the 1999 Growth Plan. Pinnacle Business Management, Inc. has shown its financing sources that its plans are sound and its administration is strong," said Eric Bauchman.
Announcements and further details regarding additional funding, proprietary software and services, and detailed information about the franchising rollout are planned for March and April.
Pinnacle Business Management, Inc. is in the process of consolidating a fragmented industry with over 6,000 independent companies into a cohesive, self-contained consumer cash resource. In order to effect its growth strategies, Pinnacle Business Management, Inc. is expanding its market penetration internationally through aggressive pursuit of strategic acquisitions, rollups, and affinity franchising.
Pinnacle Business Management, Inc. PCBM is a publicly traded holding company with a small public float. Additional information is available by calling Pinnacle's Corporate Offices. PCBM operates through its subsidiaries Fast Title Loans, Inc. and Fast Paycheck Advance, Inc. which are both consumer lending divisions, and Summit Property Group, Inc., a commercial real estate division. These divisions combine a strong asset base and a strong consumer finance organization, which contribute to increased income and shareholder wealth.
PCBM intends to become a reporting company by the end of second quarter 1999. Growth plans will continue to be financed through public and private sources. Additional information is available through the company's web site at pcbm.com or by calling the contact below.
Safe Harbor for Forward-Looking Statements: Except for historical information contained herein, the statements in this press release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the company's actual results in the future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, product price volatility, product demand, market competition, risk inherent in the company's domestic and international operations, imprecision in estimating product reserves and the company's ability to replace and expand its holdings.
Contact: Pinnacle Business Management, Inc. Peter Reinholt, Business Development Department Phone: 727/669-7781 Address: 2963 Gulf to Bay Blvd., Suite 265 -- Clearwater, Florida 33759
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