COM/TECH COMMUNICATION TECHNOLOGIES INC. ANNOUNCES THIRD QUARTER AND NINE MONTHS RESULTS.Technologies, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CMTK CMTK Common Mapping Tool Kit ) today announced a net loss for the three months ended December 31, 1995, of $(310,148) as compared with a net profit of $243 for the three months ended December 31, 1994. The net loss for the nine months ended December 31, 1995, was $(2,322,167) as compared with a net loss of $(155) for the nine months ended December 31, 1994. The increase in net loss of $2,322,012 is primarily attributable to the non-cash expense Noun 1. non-cash expense - an expense (such as depreciation) that is not paid for in cash disbursal, disbursement, expense - amounts paid for goods and services that may be currently tax deductible (as opposed to capital expenditures) of $330,000 in connection with the Common Stock issued to employees and the $1,320,000 financing cost that was incurred in conjunction with the Bridge Loans received in May of 1995. The Company is currently planning to expand its base in the satellite-delivered interactive learning field. Satellite-delivered interactive distance learning allows the simultaneous broadcast to any number of remote classrooms or sites using video-based communications systems In telecommunication, a communications system is a collection of individual communications networks, transmission systems, relay stations, tributary stations, and data terminal equipment (DTE) usually capable of interconnection and interoperation to form an integrated whole. . During the first half of calendar 1996, the Company has plans to open what it believes to be the first production studio in Manhattan specifically designed for distance learning. In January the Company announced the conclusion of an agreement with the New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Society of Security Analysts for the joint development and delivery through distance learning technology, of courseware Educational software. See CBT and OpenCourseWare. (application) courseware - Programs and data used in Computer-Based Training. to candidates studying for the CFA (Computer Fraud and Abuse Act of 1986) Signed into law in 1986, the CFA was a significant step forward in criminalizing unauthorized access to computer systems and networks. The Act applies to "federal interest computers" that include any system used by the U.S. (Certified See certification. Financial Analyst) examination. In January, Com/Tech also announced the formation of the NorthStar Distance Learning Division, to spearhead the company's current and future distance learning programs. Com/Tech Communication Technologies is a developer and producer of educational television and satellite-delivered distance learning programs. Com/Tech is traded on the NASDAQ exchange, symbol CMTK. -0-
COM/TECH COMMUNICATION TECHNOLOGIES INC.
Three Months Ended Three Months Ended
December 31, December 31,
1995 1994
Revenues $387,427 $459,844 Net Income/(Loss) $(310,148) $243 Net Income/(Loss) Per Share $ (0.08) $ -- Average Shares Outstanding 3,710,000 2,560,000
Nine Months Ended Nine Months Ended
December 31, December 31,
1995 1994
Revenues $840,849 $1,233,588 Net Income/(Loss) $(2,322,167) $(155) Net Income/(Loss) Per Share $(0.78) $ -- Average Shares Outstanding 2,981,454 2,560,000 CONTACT: Peter D. Wild, President COM/TECH COMMUNICATION TECHNOLOGIES INC. (212) 826-2935 or Stephen D. Axelrod Ax·el·rod , Julius 1912-2004. American biochemist and pharmacologist. He shared a 1970 Nobel Prize for studies of the ways in which different substances affect neural impulses. Mona J. Walsh Barbara Yu (Media) WOLFE AXELROD ASSOCIATES (212) 370-4500 e-mail: 76015.440@compuserve.com |
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