Chronicle Communications, Inc. Announces Arrival of Its New FAST-300.Business Editors TAMPA, Fla.--(BUSINESS WIRE)--Feb. 4, 2000 Chronicle Communications, Inc., (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CRNC CRNC College Republican National Committee CRNC Controlling Radio Network Controller (3GPP) CRNC Center for Russian Nature Conservation CRNC Completely Reliable Network Concepts (NYC area Web hosting firm) ), (http://www.chronicleinc.com) announced Friday that its new FAST-300 web offset printing press has been shipped and is expected to arrive in Tampa on Saturday, February 5, 2000. Chronicle will begin installation of the press immediately upon receipt and expect it to be fully operational by February 22, 2000. Chronicle will operate the FAST-300 in its new facility located in the prestigious Sable sable, species of marten, Martes zibellina, found in Siberia, N European Russia, and N Finland. This carnivorous mammal is highly valued for its thick, soft fur, which is dark brown or black, sometimes with white underparts and sometimes flecked with silver. Industrial Park in Tampa. Chronicle will operate its commercial printing division under a new, 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. named Chronicle Commercial Printing, Inc. Chronicle's wholly owned subsidiary Bright Now, Inc., dba United Printing and Publishing, is expected to close its doors on Monday, February 7, 2000. United is currently operating under Chapter 11 Bankruptcy and is expected to be converted to Chapter 7 Liquidation The collection of assets belonging to a debtor to be applied to the discharge of his or her outstanding debts. A type of proceeding pursuant to federal Bankruptcy on Monday, February 7, 2000. The expected liquidation of United in Chapter 7 will eliminate $1,631,341 of debt from Chronicle's consolidated balance sheet consolidated balance sheet A balance sheet in which assets and liabilities of a parent company and its controlled subsidiaries are combined, thereby presenting balance sheet items for the parent and its subsidiaries as if they were a single firm. . Special Note: Management believes certain statements in this press release may constitute &uot;forward-looking statements&uot; 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. These statements are made on the basis of management's views and assumptions regarding future events and business performance as of the time the statements are made. Actual results may differ from those expressed or implied. Such differences may result from actions taken by the company prior to its current fiscal year end, as well as from developments beyond the company's control, including changes in global economic conditions that may, among other things, affect the performance of the company's anticipated acquisitions or future business. In addition, changes in domestic competitive and economic conditions may also affect performance of all significant company businesses. |
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