Auteo Media Announces Record Revenues, Gross Profits and Financial Results; Company Predicts Reaching Break-Even in Fourth Quarter of 2000.Business Editors/Automotive Writers SEATTLE--(AutomotiveWire)--Nov. 14, 2000 Auteo Media, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :AUTM AUTM Association of University Technology Managers AUTM Authorised Unusable Time (Loran-C System) ), a leading provider of communication solutions for the automotive industry The automotive industry is the industry involved in the design, development, manufacture, marketing, and sale of motor vehicles. In 2006, more than 69 million motor vehicles, including cars and commercial vehicles were produced worldwide. , announced reported sales for the quarter ending Sept. 30, 2000. -- Quarter-over-Quarter Gross Profits Grow 43% to $219,809 -- Quarter-over-Quarter Revenues Grow 33% to $223,270 -- Q3 Gross Profits Increase 17% over the Previous Quarter -- Current Assets Grow 85% from year end 1999 -- Long term and Short term Liabilities Decline 30% from year end 1999 Sales for the period Q3 ended September 30, 2000 increased by $55,054 to $223,270, representing a 33% increase over the same period in Q1, 1999. This growth can be attributed to our fast growing operations in California California (kăl'ĭfôr`nyə), most populous state in the United States, located in the Far West; bordered by Oregon (N), Nevada and, across the Colorado River, Arizona (E), Mexico (S), and the Pacific Ocean (W). . Gross profit for Q3, 2000 increased to $219,809 from $153,321 in Q3, 1999, representing a 43% increase. Selling, general and administrative expenses, not including $104,070 in common stock issued for consultant services, increased from $75,203 to $309,333 due to continued costs associated with the acquisition of Tysa Corporation, our new corporate office, accounting, legal and other consulting fees, purchase of capital equipment and additional labor costs to handle the increased demand for the Company's existing products and services and development of our new technologies. As a result, net earnings for the period decreased from $62,778 in 1999 to a loss of $112,331 in 2000 when common stock for consultant services is excluded. "We are on track with the results of this quarter and are anticipating reaching break-even in the fourth quarter of 2000," stated Steve Van Leeuwen, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Auteo Media, Inc. The Company reported that it has completed most of the development of its business units and is anticipating revenues on them beginning in fourth quarter. Auteo Media is evolving from its regional, single business model to become a nationally recognized organization offering a portfolio of communications solutions for the automotive industry. The Company has reported excellent revenue growth of its expansion into the northern California Northern California, sometimes referred to as NorCal, is the northern portion of the U.S. state of California. The region contains the San Francisco Bay Area, the state capital, Sacramento; as well as the substantial natural beauty of the redwood forests, the northern automotive market. Earlier this year we told our shareholders that we will complete development of our business units and earn revenues by year end 2000," Van Leeuwen stated. "It now appears that we can beat our own target by two months and will strive to break-even, net of common stock paid to consultants, in the fourth quarter." About Auteo Media, Inc. Auteo Media, Inc., (OTCBB:AUTM) is a leading provider of online data and media solutions to buyers and sellers of autos and auto accessories. Auteo Media operates Autoloco and Bidthatcar.com, web sites that provide one-stop convenience for consumers and dealers to locate and buy new and used vehicles. Auteo Media has recently launched PartCart, a web based Coming from a Web server. See Web application. OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and auto parts Auto parts are components of automobiles. They mainly are, in alphabetic order (only car specific articles or articles with car section):
BY ORDER OF THE BOARD OF DIRECTORS Steve Van Leeuwen, President NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). has neither approved nor reviewed the information contained herein. Some statements in the report are forward looking and are subject to certain risks and uncertainties. These risks and uncertainties include, but are not limited to, economic conditions, changes in law or regulations, demand for products and services of the company and the effect of competition. These risks and uncertainties could significantly affect anticipated results in the future and actual results may differ materially from any 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. . |
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