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Neptune Society, North America's Top Cremation Company, Begins Public Trading
New Corporate Symbol: NPTN.
neptunesociety.com
The Neptune Society (OTC BB: NPTN), the country's largest cremation, or "alternative services," company, announced today (Tuesday May 4th) that it will begin trading as a public company on the Over-The-Counter exchange under the symbol NPTN.
The Neptune Society, headquartered in Los Angeles, CA, has offices in California, Florida and New York. In nearly three decades as a private death-care company, Neptune has developed a proven system to effectively market and deliver cremation services.
Neptune is the largest and most successful alternative service provider in the United States. By leveraging the intense respect and recognition the Neptune Society brand enjoys throughout North America, the company will embark on an aggressive growth program, fueled by this public offering. The company is poised to take advantage of the dramatic increase in the trend toward cremation as a simpler, dignified and more economic alternative to conventional burial services.
A recent article in the Wall Street Journal dated March 1999 reported that as the "76 million baby boomers begin to age and pass away in significant numbers...the nations death rate is expected to soar perhaps to an estimated 3.2 million a year by 2015." The article goes on to say "Just 15.2% of people who died in the US in 1987 were cremated, but cremations jumped to 23.6% in 1997 and are expected to reach 42 percent by (the year) 2010, according to the Cremation Association of North America."
The Neptune Society has, in addition to traditional cremation services, initiated a pre-need program, which guarantees fixed-price cremation funeral services -- all aspects of a pre-planned cremation funeral service will be taken care of at a fixed price, paid in advance. Neptune has developed a very successful direct marketing program that has attracted over 50,000 active pre-funded pre-need members to this program, and in 1997 alone, Neptune provided alternative services to 4,943 customers and entered into 6,309 pre-need contracts with new members.
Pre-payments from these members are deposited in a trust fund. The trust in 1988 was 0$, in 1994 $16 million and now totals over $38 million and guarantees 13 years of booked business and the entire principal after 13 years. Estimates for the fund reach $86 million by 2004.
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