Chadmoore Wireless Group Announces Fourth Quarter and Year End Results.LAS VEGAS--(BUSINESS WIRE)--April 2, 1997-- Assets Increase to $43.1 Million From $5.3 Million Chadmoore Wireless Group, 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 BB: MOOR Moor Any member of the Muslim population of Spain, of mixed Arab, Spanish, and Berber origins. North African Muslims (called by their Latin name Mauri—i.e., natives of Roman Mauretania) invaded Spain in the 8th century and, under the Umayyad and Almoravid dynasties, ), a provider of Specialized Mobile Radio See SMR. (SMR (Specialized Mobile Radio) The communications services used by police, ambulances, taxicabs, trucks and other delivery vehicles. Throughout the U.S., approximately 3,000 independent operators are licensed by the FCC to offer this service, which provides always-on ) wireless communications wireless communications System using radio-frequency, infrared, microwave, or other types of electromagnetic or acoustic waves in place of wires, cables, or fibre optics to transmit signals or data. services, today announced its results for the fourth quarter and year ended Dec. 31, 1996. Revenues for the quarter totaled $522,189 compared with no revenues in the same period a year ago. For the quarter, the company reported a loss of $1,449,626, or $0.08 per share, compared with a net loss of $1,679,695, or $0.26 per share, in 1995's fourth quarter. There were 18,010,682 and 6,461,341 weighted average number of common shares outstanding in the 1996 and 1995 fourth quarters, respectively. For the year ended Dec. 31, 1996, revenues totaled $1,906,206 compared with no revenues in 1995. Net loss for the year was $6,826,206, or $0.53 per share, compared with a net loss of $7,033,325, or $1.29 per share, in the same period last year. For the years ended 1996 and 1995 there were 12,763,323 and 5,459,524 weighted average number of common shares outstanding, respectively. The company reported that both assets and shareholder's equity increased substantially during the period. Total assets increased to $43.1 million from $5.3 million as of Dec. 31, 1995 and shareholders' equity Shareholders' Equity A firms' total assets minus its total liabilities. Equivalently, it is share capital plus retained earnings minus treasury shares. Shareholders' equity is the amount by which a company is financed through common and preferred shares. rose to $38.5 million from $3.0 million on Dec. 31, 1995. Robert Moore Robert Moore may refer to
A business that engages in transactions with outsiders. . The increase in the number of shares outstanding is directly related to our acquisitions." Moore added, "We are now poised to become a truly operational company with the ability to build out our network in over 200 cities. We believe 1997 will be a year of operational growth and an increasing revenue base." -0-
Chadmoore Wireless Group Inc.
Financial Highlights
For the Three Months Ended
December 31,
(Unaudited)
1996 1995
Revenues $ 522,189 $ --
Net (loss) $ (1,449,626) $ (1,679,695)
Net (loss) per
share $ (0.08) $ (0.26)
Weighted average
number of
common shares
outstanding 18,010,682 6,461,341
For the Year Ended
December 31,
1996 1995
Revenues $ 1,906,206 $ --
Net (loss) $ (6,826,250) $ (7,033,325)
Net (loss) per
share $ (0.53) $ (1.29)
Weighted average
number of
common shares
outstanding 12,763,323 5,459,524
Balance Sheet Data
December 31, December 31,
1996 1995
Current Assets $ 2,165,503 $ 1,368,649
Total Assets $ 43,127,627 $ 5,341,495
Long Term Debt $ 2,500,141 $ 633,708
Total Shareholders'
Equity $ 38,571,480 $ 3,037,626
CONTACT: Chadmoore Wireless Group, Inc. William Bossung, 702/891-5255 or KCSA KCSA Krannert Center Student Association KCSA Kentucky Crushed Stone Association (Frankfort, KY) KCSA Kyiv City State Administration KCSA Kalamazoo Christian School Association KCSA Kentucky-Canadian Studies Association Public Relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most Paul Holm/Joe Mansi, 212/682-6565 ext. 201/205 212/697-0910 (fax) KCSA@aol.com |
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