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Microcap & Penny Stocks : Zia Sun(zsun) -- Ignore unavailable to you. Want to Upgrade?

To: realmoney who wrote (833)	4/25/1999 10:44:00 PM
From: StockDung	Respond to of 10354

What is that intangible asset you say? "Assets grew 262% to $2,100,000 from the FY1997 posting of $800,000. The increase in assets was due to retained earnings, paid-in capital by owners, and increases in the value of investments held by the company" ZiaSun Subsidiary Announces Rapid Growth in Revenues, Earnings, and Assets San Diego, CA \endash November 17, 1998. ZiaSun Technologies, Inc. (NASD OTC EBB: ZSUN) announced the financial results for the six months ended June 30, 1998 for newly acquired subsidiary, Momentum Asia Inc. Assets grew 262% to $2,100,000 from the FY1997 posting of $800,000. The increase in assets was due to retained earnings, paid-in capital by owners, and increases in the value of investments held by the company. Momentum Asia Inc. recorded audited net income of $140,000 on revenues of $885,000 for FY1997. In the six months ending June 30, 1998 the company has already recorded pre-tax earnings of $180,000 on revenues of $671,000. ZiaSun expects the Momentum Asia subsidiary to be a major contributor to the bottom line of ZiaSun this year. Momentum Asia's services are closely linked to those offered by the company's Internet-related subsidiary, Momentum Internet, and ZiaSun expects both subsidiaries to show comparable rates of growth. ZiaSun is a holding company focused on acquiring small, profitable, Internet and Internet-related companies with strong growth potential. Momentum Asia is a subsidiary offering Internet customer service, database management, direct mail and corollary services which back up the Internet capabilities of other ZiaSun subsidiaries, as well as those Internet companies who are expanding into the international market. Momentum Internet Inc., is a ZiaSun subsidiary that controls a range of internet products and services, including an on-line stock trading system, a premium web-based e-mail service, a rapidly expanding advertising banner network, a popular finance website, and an Asia-focused search engine. 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 Contact: ZiaSun Technologies, Inc. Reference ticker symbols: NASD OTC/BB-ZSUN ZiaSun Technologies, Inc. Website: www.zsun.com Message Thread: >News Release - Friday, November 20, 1998 - SH News - 11/20/98 9:52:26 AM