Budgethotels.com, Inc.'s Subsidiary Info Center Inc. Continues to be Profitable Throughout Accelerated Expansion.POINT ROBERTS Point Roberts, uninc. town (1990 pop. 750), Whatcom co., NW Wash., on the Strait of Georgia near the tip of the Point Roberts peninsula, extending south from British Columbia, Canada, and separated from the Washington mainland by Boundary Bay. , Wash.--(BUSINESS WIRE)--June 17, 1999-- Budgethotels.com, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:BUDH) 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. William J. Marshall announces that the Company's wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Info Center Inc., whose business of selling advertising space on illuminated display boards in Greyhound terminals and other transportation outlets, has continued to be profitable throughout its accelerated expansion. Under a 15-year Agreement with Greyhound Lines Greyhound Lines is the largest inter-city common carrier of passengers by bus in North America , serving 2,200 destinations in the United States. It was founded in Hibbing, Minnesota, USA, in 1914 and incorporated as "The Greyhound Corporation" in 1926. Inc., Budgethotels.com, Inc. has the right of first refusal Right of First Refusal In general, the right of a person or company to purchase something before the offering is made available to others. Notes: For example, a football team may have the right of first refusal on a player's contract. to install its Info Center Boards in Greyhound bus terminals. Through this pact, the Company receives access to a large captive market of travelers seeking accommodations and other travel related services. The business features low capital and low marketing costs. For instance, the cost of an Info Center Board is approximately $4,000.00 and is capable of generating net advertising revenues after operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. , of $30,000 per year on average. To date the Company has installed 64 Boards across North America and is adding an average of 4 more per month. Marshall estimates that there are at least 400 potential locations for the Company's display boards in North America. Internationally, the potential market in English speaking countries for their Info Center boards is at least 200. Budgethotels.com, Inc. is a growth Company, carving a leadership niche in the provision of innovative internet hotel reservation systems. Info Center Inc. (a division thereof) is also leading the way in expanding locations for board advertising for traveler services including hotels, motels, hostels, taxis, public transit and employment agencies. A recent report by Wall Street Research on the Company is available at http://www.wallstreetresearch.net Budgethotels.com, Inc. is listed on the OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. , symbol BUDH. Certain information included in this communication (as well as information included in oral statements or other written statements) made, or to be made by Budgethotel.com, Inc. may contain statements that are forward looking. Statements relating to the future anticipated direction of the internet industry, plans for future expansion, various business developments, activities, planned capital expenditures, future funding resources, anticipated sales growth and potential contracts are subject to a number of known and unknown risks and uncertainties that could cause actual operations or results to differ materially from those anticipated. For more information call: 800/548-4432 |
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