Auxer's Telecom Group Estimates Revenues of $550,000 for the 3rd Quarter Ending September 30, 2000.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)--Oct. 2, 2000 The Auxer Group, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : AXGI) announced today that it has revised its estimated revenues for Clifton Telecard and the Telecom Group from $250,000 to approximately $550,000 for the 3rd Quarter ending September 30, 2000. "The significant increase in revenue is attributable to the recent acquisition of Clifton Telecard's business. We expect the Telecom Group to achieve revenues of approximately $6 to $8 Million and is expecting to report earnings for the 4th Quarter ending December 31, 2000. On-going testing on the switches has been nearly completed with no problems. I expect to announce more on the testing," said Ronald Shaver, Executive Vice President of Auxer. About The Company The Company is a holding company that has formed a Telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. Group and established a two (2) subsidiaries, Clifton Telecard, Inc., a wholesale distributor of prepaid pre·pay tr.v. pre·paid, pre·pay·ing, pre·pays To pay or pay for beforehand. pre·pay  ment n. phone cards and Auxer Telecom, Inc. which provides telecommunication services from telecommunications carriers to the telecommunications industry. Additionally, Auxer owns an Automotive Group with 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 and www.axgiinvestor.com |
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