Golf Entertainment (otcbb: GECC) (...soon to become the National Hispanic TV Network...) Breaks Q1 Jinx; CEO Says Four Year Loss Trend Finally Halted
SPRINGDALE, Ark., May 20, 2002 /PRNewswire-FirstCall via COMTEX/ -- It's been four years since Golf Entertainment, Inc., (OTC Bulletin Board: GECC) reported a positive number on its bottom line in the first quarter. The last time the company reported first quarter earnings was March 1998, when it stated earnings of $83,000 on revenues of $8.1 million dollars. Since then, the first quarter report has seldom had good news for shareholders, according to the company's historical 10-Q's.
The company refined its focus within the entertainment field on January 1, 2002, when it turned from golf to Spanish language television. Using Springdale, Arkansas based television station KVAQ channel 20 as its test bed, Brooker says the company has been fine-tuning its approach to marketing, programming and creative services. "Our business model has been tested and we're now launching our first round of fundraising. Our $5 million dollar private placement will allow us to expand with acquisitions of existing stations and construction of new stations, hopefully beginning in the third quarter."
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Some Starter DD: Subject 52889
Additional DD: Message 17610877
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