Cathayonline Inc. Announces Acquisition of Lottery Kiosks in China.NEW YORK--(BUSINESS WIRE)--June 7, 1999-- CATHAYONLINE INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. . (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:CAOL) is pleased to announce it has identified the first three existing Online Lottery Kiosks it intends to acquire in China. Negotiations are currently at an advanced stage, and should be completed in the second half of this month. CATHAYONLINE INC. has projected to acquire approximately 50 operational Lottery Kiosks in the next six months, which, when fully operational, are expected to generate in excess of US $450,000 net 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. income (Earning Before Interest Taxes & Depreciation - EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become ). The second phase of the Company's plan calls for the acquisitions of 150 additional operating Lottery Kiosks in the second half of the Company's fiscal year. When this phase is completed, the total annualized net income (EBITDA) is projected between US $1.75 million and pUS $2.25 million. The lottery industry in China is in its infancy -- with only some 6% of the Chinese estimated to have tried their hand at lotteries, compared to 85% of the Americans. Revenue generated from sale of lottery tickets is a growing industry. China, with its huge population (1.3 billion) speaks for itself in terms of potential revenue that would be generated once more significant market penetration Noun 1. market penetration - the extent to which a product is recognized and bought by customers in a particular market penetration - the act of entering into or through something; "the penetration of upper management by women" has been achieved. In the last nine months alone US $1.3 billion in welfare lottery cards were sold in China. This project confirms the focus of the Company to engage in business that provides significant cash flow opportunities and established management. CATHAYONLINE INC. On Behalf of the Board of DirectorsBrian Ransom, Director More information can be obtained about CathayOnline by visiting http://www.cathayonline.com For further information, please contact: WORLDVISION FINANCIAL Tel: 1-888-345-6060 or 1-407-834-8944 or by visiting http://www.wvfg.com Statements included in this press release which are not historical in nature, are intended to be, and are hereby identified as "forward-looking statements 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. " for purposes of the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provided by Section 21E of the Securities Exchange Act of 1934, as amended by Public Law 104-67. Forward-looking statements may be identified by words including "anticipate," "believe," "intends," "estimates," "expect," and similar expressions. The Company cautions readers that forward-looking statements, including without limitation, those relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the Company's future business prospects are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements. |
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