Champions Sports, Inc. Reports Quarterly Results.
ARLINGTON, Va.--(BUSINESS WIRE)--Dec. 15, 2000
Champions Sports, Inc. (OTC OTC
See over-the-counter market (OTC). BB:CSBR CSBR Center for Sustainable Building Research ), today reported net operating loss operating loss
The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. of $159,712 for the quarter ended October 31, 2000 compared to a net operating income Operating Income
The profit realized from a business' own operations.
This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. of $20,551 for the quarter ended October 31, 1999.
For the quarter ended October 31, 2000 the net loss available to common stockholders was $175,650 or $0.02 per share compared to a net income of $4,613 or $0.00 per share for the quarter ended October 31,1999. The Company expanded approximately $85,000 during the quarter ended October 31, 2000 in its effort to diversify into high-technology and the formation of Champions Tech Ventures.
SELECTED FINANCIAL DATA ----------------------- Three Months Ended Six Months Ended Oct. 31 Oct. 31 2000 1999 2000 1999 ---- ---- ---- ---- Total Revenues $470,181 $488,111 $1,083,547 $1,127,385 Net Income (loss) from operations $(159,712) $20,551 $(118,525) $38,133 Loss on security held for sale - - $(50,000) - Less preferred stock dividends $15,938 $15,938 $31,876 $31,876 Net income (loss) available to common stockholders $(175,650) $4,613 $(200,401) $6,257 Basic earnings (loss) per share $(0.02) $0.00 $(0.02) $0.00 Earnings per common share assuming full dilution $(0.02) $0.00 $(0.02) $0.00
Champions Sports, Inc. is a licensee licensee n. a person given a license by government or under private agreement. (See: license, licensor)
LICENSEE. One to whom a license has been given. 1 M. Q. & S. 699 n. of CHAMPIONS Sports Bar Restaurants and an exclusive supplier of sports memorabilia The term sports memorabilia usually refers to anything that can be directly connected to a sports event or personality. These items are generally gathered by fans of the particular sport, athlete or team that the item signifies or by collectors who find value in the rarity and a consultant to all new managed Marriott and Renaissance Hotel Sports Bar/Restaurants worldwide. Starting in August 2000, the Company diversified into high-technology by expanding the management team to focus on business opportunities in that sector and by the subsequent formation of a wholly owned subsidiary Wholly Owned Subsidiary
A subsidiary whose parent company owns 100% of its common stock.
In other words, the parent company owns the company outright and there are no minority owners. , Champions Tech Ventures, to provide Management Capital to help early-stage technology companies increase the chances of becoming successful businesses.
This press release contains "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. " (within the meaning 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) that inherently involve risks and uncertainties. All statements other than statements of historical information provided herein may be deemed to be forward-looking statements. The Company's actual results could differ materially form those anticipated in these forward-looking statements as a result of unforeseen external factors.
These factors may include, but are not limited to, changes in general economic conditions, customer acceptance of products or services offered and other general competitive factors. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis, judgment, belief or exception only as of the date hereof. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.