BestSellers Group pursues NASDAQ registration and acquires new entities.CORAL GABLES Coral Gables, city (1990 pop. 40,091), Miami-Dade co., SE Fla., SW of Miami; inc. 1925. Founded at the height of the Florida land boom, Coral Gables is a noted planned city, with tree-lined boulevards and Mediterranean-style buildings. , Fla.--(BUSINESS WIRE)--Jan. 10, 1996--Douglas Morgan, president of BestSellers Group Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:BSLR) announced that the company had instructed its SEC counsel to prepare the required registration documentation for the company to trade its shares on the Small Caps See Small capital Market. The completion of a recent report by the firm's auditors, on Sept. 30, 1995, showed a Net Shareholders' Equity Shareholders' Equity A firms' total assets minus its total liabilities. Equivalently, it is share capital plus retained earnings minus treasury shares. Shareholders' equity is the amount by which a company is financed through common and preferred shares. of $5.7 M. The company meets the NASDAQ registration requirements and feels its approval will be granted timely. Morgan advised that the gain on Shareholders' Equity was due to carefully planned corporate acquisitions which were pending and in motion and completed by the end of the reporting period. Morgan reported, "Now that we have completed the phases of our growth planning, laid out for 1995, we are now positioned to move into the NASDAQ marketplace, poised for growth in sales and income." The very attractive acquisition of Thimble thimble, n See coping. thimble, ionization chamber, n See chamber, ionization, thimble. Square Inc., a long established designer and manufacturer of ladies lingerie and lounge wear and a featured merchandiser on the Internet Web Marketplace, with sales through various major retail stores throughout the United States, with operations at two facilities in Georgia, adds approximately $4 M in sales. Another new acquisition, which is in motion, is Unique Products Inc., which has a line of products in which McDonald's parent company is very interested for their national Birthday program, potentially generating $2 M in annual revenues to BSLR. A recently completed acquisition is Electronic Display Technology, an LED visual marketing medium firm, which presently has contracts with some of the country's top national franchises and retailers. EDT EDT abbr. Eastern Daylight Time EDT Eastern Daylight Time EDT n abbr (US) (= Eastern Daylight Time) → hora de verano de Nueva York EDT , with its new state of the art technology (patent being applied for), is far ahead of the competition. Morgan further stated: "As a result of our grouping of corporate investments, we are now positioned to attract additional growth-oriented, mature operating entities. Our goal is continued growth by enhancing our present involvements and planned expansion, increased earning, tied to the middle market segments." Other exciting acquisitions are pending at this time with public announcements imminent. CONTACT: BestSellers Group Inc., Coral Gables Douglas Morgan, 305/444-1457 |
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