China-based Score One Inc. to Enter Multi-media Home Personal Computer Market.Business Editors & High-Tech Writers LOS ANGELES--(BUSINESS WIRE)--Oct. 6, 2000 Advanced Technology Holdings Ltd., a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Score One Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :SCRO SCRO Scottish Criminal Records Office (Glasgow, Scotland, UK) SCRO South Central Regional Office SCRO Society for the Conservation and Research of Owls SCRO Scottish Cave Rescue Organisation SCRO Shutdown Control Room Operator ), today announced that the company has entered into a Letter of Intent for the purchase of a 45% equity stake in Blue-Tech Industrial Co. Ltd. ("Blue-Tech"), a joint venture with the Pao Li Group of Jiangsu Province in the People's Republic People's Republic n. A political organization founded and controlled by a national Communist party. of China (PRC). Blue-Tech plans to manufacture Multi-media Home Personal Computers ("IMH-PC") and expects to generate approximately $20 million in revenues and $2.65 million in net income for the first year of operation. Roy Ho, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Score One, stated: "This is a genuine win-win situation. Not only will we benefit from the revenue derived from the Printed Circuit Boards ("PCB PCB: see polychlorinated biphenyl. PCB in full polychlorinated biphenyl Any of a class of highly stable organic compounds prepared by the reaction of chlorine with biphenyl, a two-ring compound. ") sales to Blue-Tech, but also from the returns on our planned 45% equity stake in Blue-Tech. Drawing on Score One's success and our excellent relationship with the Pao Li Group, we expect Blue-Tech to experience strong growth, not only in Asia, but also in the Western marketplace, as a result of the recent approval of the Permanent Trade Status for China." The Pao Li Group is a long-standing purchaser of circuit boards that has established special ties with Advanced Technology International Ltd. (ATHL ATHL All Time Hardball League ). "It makes sense to take advantage of promising business opportunities offering both growth in the sale of PCB parts and a share in the profits derived from the sales of the finished products to the end users. The Blue-Tech joint venture is a perfect example of this philosophy," added Ho. Based on the anticipated first-year revenue of $20 million and net income of $2.65 million, Score One's 45% equity stake would amount to $1.20 million in additional earnings. Blue-Tech will be located 30 miles northwest of Shanghai. The total investment in the Blue-Tech Joint Venture is estimated at $6 million, of which $2.7 million will be apportioned ap·por·tion tr.v. ap·por·tioned, ap·por·tion·ing, ap·por·tions To divide and assign according to a plan; allot: "The tendency persists to apportion blame as suits the circumstances" to Score One for its 45% equity stake. It is anticipated that a definitive agreement will be signed before the end of November 2000. Subject to funding in a timely manner, Blue-Tech expects commencing production in the first quarter of the year 2001. About Score One Inc. The company is certified at IS0 9002 level and manufactures specific application printed circuit boards (PCBs) including flexible double-sided conductive conductive having the quality of readily conducting electric current. conductive flooring flooring or floor covering made specially conductive to electrical current, usually by the inclusion of copper wiring that is earthed carbon and polyester-based PCBs, principally for OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and manufacturers of brand-named consumer electronics companies such as Polaroid, Sharp, Canon, Citizen, Sony and Hitachi. The consumer electronics and telecommunication products include, but are not limited to, hand-held organizers, scientific calculators, cameras and mobile phones. The company recently released its financials for the five-month period ended May 31, 2000, showing a 4% increase in earnings above the $1.78 million for the same period ended May 31, 1999. Shareholder equity appreciated by 52% during the respective reporting period. The increases for both periods were a result of increased demand for higher-margin PCBs for consumer electronics and telecommunication products.
Dec. 31, 1999 (12 months) May 31, 2000 (five months)
(audited)
Revenues $21.6 mil $8.0 mil
Earnings $3.95 mil $1.84 mil
EPS (basic/diluted): .20 .10
Shareholder Equity $3.19 mil $4.84 mil
Forward-looking statements in this release are made pursuant to the safe-harbor provisions 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. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the company's products and technological changes, the company's dependence upon third-party suppliers, intellectual property rights and other risks detailed from time to time in the company's periodic reports filed with the Securities and Exchange Commission. Corporate Profile available at http://scro.stockpr.com. Financials at www.sec.gov. |
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