AZCO Mining Co issues fiscal report.VANCOUVER Vancouver, city, Canada Vancouver, city (1991 pop. 471,844), SW British Columbia, Canada, on Burrard Inlet of the Strait of Georgia, opposite Vancouver Island and just N of the Wash. border. , BRITISH COLUMBIA--(BUSINESS WIRE)--Sept. 27, 1996-- AZCO AZCO A-Z Computer Liquidators (Anaheim Hills, CA) Mining Inc. announces in its Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. , as filed with the U.S. Securities and Exchange Commission, the results for its fiscal year ended June 30, 1996. Net income for the twelve months ended June 30, 1996 was $17,127,455 as compared to a net loss of $4,698,537 for the same period ended June 30, 1995. This increase is due to the Company's sale of its Sanchez Project and 70% of its Piedras Verde Project in December of 1995. Cash, cash equivalents, and short term investments were $25,696,492 at June 30, 1996 as compared to $1,794,638 at June 30, 1995. This increase is due to the Company's sale of its Sanchez Project and 70% of its Piedras Verde Project in December of 1995. Results of operations for the year ended, June 30, 1996 as compared to the year ended June 30, 1995 are as follows: Year ended Year ended June 30, 1996 June 30, 1995 ------------------------------------ Income $26,893,607 $100,800 Expenses 9,766,152 4,799,337 Net Income (loss) 17,127,455 (4,698,537) Income (loss) per share .67 (.1.9) Weighted average shares 25,554,322 25,006,637 common and common equivalent On behalf on the Board of Directors of AZCO Mining Inc. Ryan A. Modesto Principal Accounting Officer -0- THIS NEWS RELEASE HAS BEEN PREPARED BY MANAGEMENT OF THE COMPANY WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS. THE AMERICAN STOCK EXCHANGE American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. AND THE TORONTO STOCK EXCHANGE Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. NEITHER APPROVE NOR DISAPPROVE dis·ap·prove v. dis·ap·proved, dis·ap·prov·ing, dis·ap·proves v.tr. 1. To have an unfavorable opinion of; condemn. 2. To refuse to approve; reject. v.intr. THE CONTENTS OF THIS NEW RELEASE. THIS NEWS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION solicitation In criminal law, the act of asking, inducing, or directing someone to commit a crime. The person soliciting another becomes an accomplice to the crime. The term also refers to the act of obtaining bribes, as well as to the crime of a prostitute who offers sexual OF AN OFFER TO BUY, NOR SHALL THERE BE ANY SALE OF THESE SECURITIES IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION. CONTACT: AZCO Mining Inc. Ryan A. Modesto, 604/682-7286 |
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