Big Apple announces acquisition of hotel in Austria.NEW YORK--(BUSINESS WIRE)--Dec. 1, 1995--Big Apple Farms, Inc. (Bulletin Board Symbol BGAF) (the "Company") announced today that it had acquired HMA (High Memory Area) In PCs, the first 64K of extended memory from 1024K to 1088K, which can be accessed by DOS. It is managed by the HIMEM.SYS driver. It was discovered by accident that this area could be used by DOS, even though it was beyond the traditional Handels-und Montage-GmbH ("HMA"), an Austrian company which owns a hotel, spa and therapy center located in Windischgarsten, Austria in consideration of the issuance of 2,241,036 shares of the Company's common stock. In connection with the acquisition of HMA, all of the Company's former Officers and Directors resigned and a new Board was appointed. Kurt Reichenberger, was appointed as the Company's new President and Chief Executive Officer. The Company is in the process of changing its name from Big Apple Farms, Inc. to Austrian Trading Services, Inc. After giving effect to the acquisition, the Company will have outstanding 2,608,572 shares of common stock. In connection with the transaction the Company sold BAF BAF British Athletics Federation Enterprises, Inc. ("BAF"), formerly a wholly-owned subsidiary of the Company, to two of the Company's former Directors. After giving effect to the acquisition of HMA and the sale of BAF, unaudited pro forma As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts. The phrase pro forma financial information converted to U.S. dollars from Austrian shillings, regarding the operations of the Company for the years ended December 31, 1994 and 1993 would have been as follows: PROFORMA Proforma A financial projection based on assumptions. (UNAUDITED) For the year ended December 31, 1994 1993 Revenues $ 794,851 $ 388,540 Income before extraordinary items $ 782,221 $ (776,077) Net Loss $ (782,221) $ (776,077) Loss per share (.32) (.32) Weighted average number of common shares and common shares equivalent assuming full dilution Dilution A reduction in earnings per share of common stock that occurs through the issuance of additional shares or the conversion of convertible securities. Notes: Adding to the number of shares outstanding reduces the value of holdings of existing shareholders. 2,408,572 2,408,572 CONTACT: Silverman, Collura & Chernis, P.C p.c. (post cibum), n a Latin phrase meaning “after meals”; the abbreviation may be used in prescription writing. . Anthony M. Collura, Esq., 212/779-8600 |
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