'Kingsley Coach Announces Filing of SEC Report Form 8-K regarding Change of the Company's Year-End to June 30'.Business Editors MIDDLEBURG, Pa.--(BUSINESS WIRE)--Aug. 15, 2000 Terry Watkins, Chief Executive Officer of The Kingsley Coach Inc. (OTC--BB:KNGS) announced that the Company was filing an SEC Report on Form 8-K Form 8-K The form required by the SEC when a publicly held company incurs any event that might affect its financial situation or the share value of its stock. Form 8-K See 8-K. as notification of the Company's decision to change its fiscal year-end Fiscal Year-End The completion of a one-year, or 12-month, accounting period. Notes: The reason that a company's fiscal year often differs from the calendar year and does not close on Dec 31, is due to the nature of company's needs. from December 31st to June 30th. Mr. Watkins stated that the Company was changing its year-end so that the fiscal year more properly matches the Company's operating cycle Operating cycle The average time between the acquisition of materials or services and the final cash realization from that acquisition. operating cycle . Mr. Watkins further noted that most of the manufacturers in the RV industry had year-ends ranging from April 30th to August 31st. "Changing to a fiscal year-end of June 30th will assist the Company in planning and budgeting as the fiscal year will be a natural annual cycle for us as to sales, design and production." Mr. Watkins also noted that Kingsley's development phase had ended shortly after June 30, 2000, and that the change in year-end would assure that the Company's operating results for the year ending June 30, 2001 would not unduly burdened by development stage costs. "However, this is merely an incidental Contingent upon or pertaining to something that is more important; that which is necessary, appertaining to, or depending upon another known as the principal. Under Workers' Compensation statutes, a risk is deemed incidental to employment when it is related to whatever a benefit as regards our future reporting; it is not the primary reason for the change." Kingsley Coach manufactures unique, high quality, motorcoaches on heavy duty truck chasses. The unique design of the Kingsley Coach, with the engine in front, provides for several advantages over traditional rear engine units, including safety, durability, flexibility, and ease of service. The Kingsley product line is designed for both recreational and commercial use and is produced in conjunction with a strategic manufacturing alliance at the Thor America plant in Middleburg, PA in conjunction with Thor America, Inc., a Thor Industries Thor Industries, Inc. is a manufacturer of recreation vehicles and mid-sized commercial buses. History Thor Industries, Inc., was founded on August 29, 1980, when Wade F. B. Thompson and Peter B. Orthwein acquired Airstream. company, the second largest RV manufacturer in the USA. For Information, Contact: Investor Relations Investor relations The process by which the corporation communicates with its investors. Department: Tel: 570/837-7114; Fax: 570/837-7214. Kingsleys website is at www.kingsleycoach.com. |
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