Budgethotels.com, Inc. Announces Nine-Month Financial Results & Business Plan Completion.Business Editors 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)--Oct.10, 2000 Budgethotels.com, Inc's (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :BUDH) President/CEO, William J. Marshall announces the financial results for the nine month period ending Aug 31, 2000 as follows: - Net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight for the nine-month period ending Aug. 31, 2000 were $596,989 U.S. after restating revenues for the prior period. This represents an increase of 32.3 % compared to sales of $451,084 for the comparative period ended Aug. 31, 1999. The increase in sales is a result of the Company increasing the number of it's advertising boards and increased earning revenue from the Company's website. - The Company had a profit of $80,986 U.S. for the nine-month period ending Aug 31, 2000 compared to a loss of ($529,782) for the comparative period ended Aug. 31, 1999. This significant improvement reflects an increase in gross margins and a decrease in general and administrative expenses as a result of reduced professional services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. and website development costs. Mr. Marshall is also pleased to announce that the updating of the Company's Business Plan has now been completed and its' contents are currently being reviewed by the Company's directors. Information pertaining per·tain intr.v. per·tained, per·tain·ing, per·tains 1. To have reference; relate: evidence that pertains to the accident. 2. to the Plan shall be released in a timely manner. Budgethotels.com, Inc. is becoming a leader in providing innovative Internet hotel reservations and its Info Center division is rapidly expanding its advertising board locations for services for budget travelers. There are currently 73 Info Center Boards across the U.S.A and Canada. Budget travel is by far the largest segment of the rapidly growing travel industry with expenditures of over 750 billion. 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 relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc 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. |
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