AUXER Reports First Quarter Results; Sales Increase Over 700% for 1st Quarter, 2000 Compared to 1st Quarter, 1999.Business Editors WEST PATERSON West Paterson (păt`ərsən), borough (1990 pop. 10,982), Passaic co., NE N.J., a suburb of Paterson; inc. 1914. Electric, electronic, and photographic products are made in the borough. , N.J.--(BUSINESS WIRE)--May 16, 2000 The Auxer Group, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). : AXGI) announced today that the company filed its initial Form 10-QSB with the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Securities & Exchange Commission. The filing reports sales of $535,540 for the first quarter of 2000 representing over a 700% increase in sales compared to the $69,949 in the first quarter of 1999. Harvey Westbury made a profit of 9% for the first quarter of 2000. "The company is moving in the right direction. Our subsidiary, Harvey Westbury Corp. showed a net profit of $37,601 or 9% which was one of the Company's primary objectives. Additionally, Auxer's Stockholders' Equity Stockholders' Equity The portion of the balance sheet that includes capital received from investors in exchange for stock (paid-in capital), donated capital, and retained earnings. This is equal to total assets minus liabilities, preferred stock and intangible assets. increased $278,605 to $450,117 during this quarter. Clearly, these are positive results, however we are focused on continuing to show these types of increases in the coming periods and I believe we can continue this pace," said Eugene Chiaramonte, Chairman of The Auxer Group, Inc. ABOUT THE COMPANY The Company is a holding company which currently owns three (3) active subsidiaries: The Harvey Westbury Corporation Inc., Hardyston Distributors, Inc. and CT Industries, Inc. Harvey Westbury assembles and packages automotive accessories under the name, Easy Testa, sells engine treatment under the name, Formula 2000 Ultimatea and sells waxes and polishes under the name, Garry's Royal Satina to the automotive, marine, and aviation industries. Hardyston Distributors, Inc. is a specialty distributor of automotive parts and accessories to local mechanics, service stations and dealers. CT Industries, Inc. has been designated to house any future internet-related business and currently handles the internet-related sales from the company's websites as well as other retail programs. Forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. in this release are made pursuant to the "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the company's products, competition, new products and technological changes, intellectual property rights and other risks. For more information please visit our websites at www.auxer.com. |
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