BonusAmerica Worldwide Corp.: New Name and First Quarter Results.Business Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--May 25, 2004 BonusAmerica Worldwide Corp. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :LBWM) (formerly Longbow longbow Leading missile weapon of the English from the 14th century into the 16th century. Probably of Welsh origin, it was usually 6 ft (2 m) tall and shot arrows more than a yard long. Mining Corp.) is pleased to announce that it has changed its name from Longbow Mining Corp. to BonusAmerica Worldwide Corp. to better reflect the company's business. Mr. Michael Mak and Mr. Carson Kwong have been elected to the Board of Directors and Mr. Mak has been appointed President. Mr. Fred Tse stays on as Director and Mr. Ernest Cheung continues as Secretary and Director. As founders of BonusAmerica, Mr. Mak and Mr. Kwong bring their successful track record as well as a wealth of business contacts to the company. The head office of BonusAmerica Worldwide Corp. is now located at 834 S. Broadway, 5th Floor, Los Angeles, CA 90014, telephone: (213) 243-1505, E-mail: investor@bonusamerica.com. A new trading symbol Trading symbol See: Ticker symbol and a new CUSIP number CUSIP Number An identification number assigned to all stocks and registered bonds. The Committee on Uniform Securities Identification Procedures (CUSIP) oversees the entire CUSIP system. Notes: This system is used in the U.S. and Canada. that accompanies such name changes are currently under application. Please refer to our earlier press releases and our SEC filings under Longbow Mining as well as visit the web sites www.BonusAmerica.com, www.CouponsRewardsSavings.com and preview our new B2B (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G. B2B - business to business site www.sinotdc.com. For the first three months of 2004, the company reported revenue of $878,778 and net income of $57,304 compared to $850,862 and ($4,747) in 2003 respectively. Pre-tax income for Q1 2004 was $102,004 with a provision of $44,700 for income taxes. In this past quarter, management focused its efforts on refining and expanding the databases; the engine for future growth of the company. The E-mail database is quickly approaching 20 million and the postal database grew to about 4 million, as compared to 15 million and 3 million at the end of 2003; an increase of about 30%. The databases are now also more comprehensive as a direct result of the refining process. They are now more valuable both for the company's own direct marketing as well as for outside list rentals. The company has also initiated business in China with the B2B web site See vertical portal. . It has already generated some business and the construction of the buyer (200,000) and supplier (800,000) lists are ongoing. Management is confident that the steps it has taken will form a solid basis for healthy long-term growth of the company. Any forward-looking statement 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 press release is made pursuant to the "safe harbor" 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 involve risks and uncertainties including, but not limited to, economic and political factors, technological developments, regulatory matters and increased competition. The Company disclaims any obligation to update any such factors or to publicly announce results of any revisions to the forward-looking statements contained herein to reflect future events or developments. ON BEHALF OF THE BOARD OF DIRECTORS Michael MAK, President |
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