S W, ZSUN: Stock Split Date and updated earning projections...
In my last discussion of ZSUN projected earnings of 34 cents/share, I had mentioned my own projections of an EPS of 50 cents. Now, ZSUN expects $5 Millions earnings for 1999, or 50 cents/share, based on the last outstanding figure of 10 Millions shares.
ZiaSun Announces Effective Date for Stock Split
SAN DIEGO--(BUSINESS WIRE)--April 20, 1999--ZiaSun Technologies Inc (OTC BB:ZSUN) (www.ziasun.com) has announced that it has authorized a two-for-one common stock split.
The stock split will be effective as of May 21,1999 for those shareholders on record as of May 14, 1999.
ZiaSun yesterday announced its 1998 consolidated audited results for the company and its subsidiaries Momentum Asia, Inc. and Momentum Internet, Inc. On a consolidated basis ZiaSun achieved net income of $1,152,210 on total revenues for both subsidiaries of $3,457,397, with earnings per share (EPS) of $0.11.
''Our 1998 audited financial reports speak for themselves,'' said Anthony L. Tobin, President and CEO of ZiaSun. ''Our earnings of 11 cents a share are a promising indicator that we have selected a winning group of companies, in a high growth area of the market and in the light of several other Internet companies who have yet to show a profit, yet have enormous market valuations.''
''We are delighted to have achieved these results, which help establish us as a dominant player in the Asian marketplace and sets the stage for an exciting year in 1999,'' added Tobin. ''The Board of Directors decided that a stock split at this time would allow more investors to make an affordable entry level investment into the company while it still trades on the OTC Bulletin Board.''
The audited results revealed a tangible net worth for the company of $4,114,547 on total assets of $4,764,560. ''This is important for us as we are presently in the process of preparing a registration statement on Form 10-SB, with our intent to apply immediately for granting of its listing and trading on the NASDAQ Small Cap Market,'' Tobin stated.
ZiaSun's recent acquisition of its third subsidiary, Online Investors Advantage Inc., (OIA) will provide additional value and support to the ZiaSun umbrella of companies. OIA is the largest company in its specific industry, and is the market leader in educating the US public regarding the benefits, risks, and required skills for effectively trading stocks on the Internet.
OIA is growing at an exponential rate, and is projecting 1999 revenues of $15,000,000 with $2,500,000 in earnings. These figures are for OIA's US operations only, and do not take into account the international potential where ZiaSun has its core operations. ZiaSun is now projecting $5 million in net profit for 1999, including the contribution from OIA.
ZiaSun's primary Internet services currently operating are: Swiftrade (www.swiftrade.com), Momentum Finance (www.mfinance.com), PINmail (www.pinmail.com), MediaHits (www.mediahits.com), Search Dragon (www.searchdragon.com) and Online Investors Advantage (www.i-advantage.com).
Note: Any statements released by ZiaSun Technologies Inc. that are forward-looking are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Editors and investors are cautioned that forward-looking statements invoke risk and uncertainties that may affect the company's business prospects and performance. These include economic, competitive, governmental, technological and other factors discussed in the statements.
For more information please contact our Investor Relations Department at 800/773-7317.
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Contact:
ZiaSun Technologies, Inc.
Investor Relations, 800/773-7317
www.ziasun.com
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