CBQ, Inc. Files Form 10-Q for Second Quarter of 2000.Business Editors/Hi-Tech Writers WASHINGTON--(BUSINESS WIRE)--Aug. 28, 2000 CBQ See traffic engineering methods. , Inc. The E-Business Marketplace (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CBQI.OB-news) reported its fiscal results on Friday, August 25, 2000, for the second quarter of 2000, ending on June 30, 2000. For the three months ending on June 30, 2000, CBQ, Inc. indicated in its Form 10-Q Form 10-Q See 10-Q. filing with the Securities and Exchange Commission that it had revenues of $116,504, and a net loss of $199,069. For the six months ending on June 30, 2000, CBQ, Inc. had revenues of $336,420, and a net loss of $374,995. The Form 10-Q filing did not include the acquisition on August 7, 2000, of Quantum Net Technologies, Inc. ("Quantum"), a privately-held Delaware Corporation A Delaware corporation is a corporation chartered in the U.S. state of Delaware. Delaware is well known as a corporate haven, and thus, over 50% of US publicly-traded corporations and 58% of the Fortune 500 companies are incorporated in the state. , in a tax free exchange. Quantum, which services large corporate clients primarily in the mid-Atlantic region and throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , anticipates that its annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. revenue will exceed $14 million for 2000. "Chairman 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. Bart S. Fisher said, "This has been an exceptional year for CBQ, a year of growth and laying the foundation for the execution of our business plan. The acquisition of Quantum, the third-largest e-Business company in Baltimore, Maryland, places CBQ in a good position to be a premier provider of e-Business solutions in the mid-Atlantic region and nationally. The acquisition of Quantum will allow us to make good use of the sustainable competitive advantage we possess in the People's Republic of China and take on larger tasks in the Information Technology sector." About CBQ, Inc. CBQ, Inc. The E-Business Marketplace is a total end-to-end provider for implementing customer-driven e-business solutions. Through its subsidiaries, Quantum Technology Group, Reliance Technologies, Inc. and Priority One Electronic Commerce Corp., it provides a full range of networking services, software development, and web-based solutions, as well as information technology outsourcing Information Technology Outsoucing or ITO is a company's outsourcing of computer or Internet related work, such as programming, to other companies. It is used in refence to Business Process Outsourcing or BPO, which is the outsourcing of the work that does not require so much resources. For more information on Quantum Technology Group, visit www.qnettech.com. ChinaSoft, Inc. is a wholly-owned subsidiary of CBQ, Inc. that is a joint venture partner with CCSoft Technology Developing, Ltd. Its services include Software Development for Enterprise computing and Internet development. For more information about CCSoft, visit www.ccsoft.com.cn. China Wireless, Inc. is a subsidiary that is developing telecommunications projects in China. China Partners is a subsidiary that facilitates international trade and investment opportunities between companies in the United States and China. For more information on CBQ, Inc., visit www.cbq.com. This news release includes forward-looking statements related to CBQ Inc. that involve risks and uncertainties, including, but not limited to, quarterly fluctuations in results, the management of growth, market acceptance of certain products and other risks. These forward-looking statements are made in reliance on 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. For further information about these factors that could affect CBQ's future results, see the company's filings with the Securities and Exchange Commission (the "Commission"). Prospective investors are cautioned that forward-looking statements are not guarantees of future performance. Actual results may differ materially from management expectations. |
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