Chester Holdings filing of the 10-K.CHESTER, N.J.--(BUISINESS WIRE)--Jan. 13, 1995--Michael F. O'Shea, president of Chester Holdings Ltd. announced today that the company had filed with the United States Securities and Exchange Commission, its annual report on Form 10-KSB for the fiscal year ending June 30, 1994. Michael F. O'Shea, also announced that the company's revenues for the fiscal year ending June 30, 1994 were $6,285,296 as compared to $0 revenues in fiscal 1993. There was a net loss of $14,026,334, as compared to a loss of $4,777,902 for fiscal 1993. Michael F. O'Shea noted that an increase in costs and expenses resulted largely from the commencement of its businesses in the retail industry in both the United States and the United Kingdom; together with administrative costs administrative costs, n.pl the overhead expenses incurred in the operation of a dental benefits program, excluding costs of dental services provided. associated with the reorganization of its operations, losses incurred in connection with discontinued operations Discontinued operations Divisions of a business that have been sold or written off and that no longer are maintained by the business. , and the write off of other assets other assets Assets of relatively small value. For financial reporting purposes, firms frequently combine small assets into a single category rather than listing each item separately. . Chester Holdings Ltd. also announced that it had recently filed a Form 8-K Form 8-K The form required by the SEC when a publicly held company incurs any event that might affect its financial situation or the share value of its stock. Form 8-K See 8-K. , reporting the resignation of Dalessio, Millner & Leben, LLP LLP - Lower Layer Protocol , as the principal independent accountant of the company. CONTACT: Chester Holdings Ltd., Chester Michael F. O'Shea, 908/879-9002 |
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