BGI Releases Unaudited March 31, 2005 Financial Results.AUSTIN, Texas -- BGI BGI Barclays Global Investors BGI Bainbridge Graduate Institute BGI Bureau Gravimétrique International BGI Borland Graphic Interface (File Name Extension) BGI Bridgetown, Barbados - Grantley Adams International , Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). Pink Sheets: BGII BGII Baldur's Gate II: Shadows of Amn (computer game) ) today released unaudited March 31, 2005 and 2004 financial statements and results. Revenue increased 170% to $1,079,084 for the quarter ended March 31, 2005 as compared to $400,125 for the quarter ended March 31, 2004. The company recorded Net Income of $155,999 for the quarter ended March 31, 2005 as compared to a Net Income of $39,711 for the quarter ended March 31, 2004. Earnings per share were $0.01 for the quarter ended March 31, 2005 as compared to $0.00 for the quarter ended March 31, 2004. The unaudited financial statements may be viewed at www.pinksheets.com or on the Company's website www.bgicorp.com. Bill Schwartz, 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. commented, "Although net income and earnings per share were significantly reduced by a non-cash $211,525 stock based compensation expense charge related to our option revaluation Revaluation A calculated adjustment to a country's official exchange rate relative to a chosen baseline. The baseline can be anything from wage rates to the price of gold to a foreign currency. In a fixed exchange rate regime, only a decision by a country's government (i.e. we are still very pleased with the financial results for the quarter." He continued, "We urge investors to read the unaudited financial statements in their entirety to see the full story on the quarter." Statements that BGI may publish, including those in this announcement that are not strictly historical, are "forward-looking" statements made under 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. Forward-looking statements are inherently unreliable and actual results may vary. Factors which could cause actual results to differ from these forward-looking statements include but are not limited to changes in the competitive marketplace, changes in the regulatory environment and economic conditions. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. About BGI, Inc. BGI, Inc. (http://www.bgicorp.com) is a gaming company that designs, distributes and markets sweepstakes-driven gaming products. The Company's primary products -- the Charity Station sweepstakes machine and the Lucky Strike Phone card machine - use a sweepstakes game as an incentive to help non-profit organizations raise funds and sell phone cards, respectively. BGI, Inc. was founded in 1994 and has offices in Austin, Texas. The Company currently trades on the OTC Pink Sheets under the symbol BGII. |
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