Copyright © 2026 Knight Sac Media. All rights reserved.https://www.siliconinvestor.com/subject.aspx?subjectid=27734 MINNESOTA AMERICAN, INC. 14853 DE VEAU PLACE MINNETONKA, MN 55345 NASDAQ OTCBB: MNAC Phone:612-945-9750 Fax: 612-945-9755 Shares Outstanding: 3.5 million Public Float : 1.5 million Fiscal Year : September Pierce McNally-----Chairman & CEO George Wood--------President minnesotaamerican.com CORPORATE PROFILE Minnesota American, Inc., founded in 1983, is a Midwestern holding company active in the organizational products market and operates two wholly owned subsidiaries, LockerMate Corporation® and Favorite Memories, Inc. ™ Strategic thinking and foresight have put Minnesota American on a clear growth-path with exciting potential. For the last four years, Minnesota American has shown profits and, as of last year, is debt-free. These achievements have sprung from strategic partnerships developed by Minnesota American that have reduced overhead to a minimum, created just-in-time inventory and streamlined distribution. Minnesota American purchased Favorite Memories, Inc. ™ in 1998 as part of its growth effort. Now, in 1999, Minnesota American is entering a partnership with flowersandgifts.com to bolster its e-commerce presence. flowersandgifts.com owns a proprietary search vehicle on the Internet that will link to thousands of flower and gift shops around the country. This engine will help drive traffic to Minnesota American's consumer-oriented storefronts on the Internet. The search engine will help the consumer customize orders, suggest ideas for purchase and add value to the consumer's on-line shopping experience. The partnership is part of Minnesota American's full-scale foray into the world of Internet sales. Recognizing that the core consumer's buying behavior is shifting to e-commerce, Minnesota American is establishing a clear path for its consumers to purchase products with the greatest possible convenience. Financials The Company's net income increased 79%, to $388,566 in 1998 from $217,234 in 1997, doubling earnings per share. The strong earnings performance follows from a continuation of the Company's strategy to stabilize sales, maintain gross margins and increase operating efficiencies for its LockerMate® subsidiary. At the close of fiscal year 1998, the Cash and Accounts Receivable totaled $452,114 relative to Accounts Payable of $207,819, giving the Company strong liquidity going into the current fiscal year. The most important aspect of the Company's 1998 performance was the consistency of sales, margins and profits over the past four years. Net Sales have stabilized in the past two years, Gross Margins and Operating Income have remained strong, and Consolidated Net Income and Consolidated Equity have increased steadily each year. This consistent performance and strong cash position at the end of 1998, puts the Company in an excellent position to implement the strategy of creating strong LockerMate® performance and leveraging financial and operational strength to acquire new products and/or compan...https://www.siliconinvestor.com/images/Logo380x132.pnghttps://www.siliconinvestor.com/subject.aspx?subjectid=2773438013210