College Bound Student Alliance Shows Significant Year-Over-Year Revenue Increase.Business Editors LAKEWOOD, Colo.--(BUSINESS WIRE)--Dec. 4, 2001 College Bound Student Alliance (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :GRAD) announced today that its recently filed Form 10KSB/A shows a significant increase in total revenues. For the year ending July 31, 2001, total revenue increased $5,495,006, or 296%, to $7,351,032, as compared to $1,856,026 for 2000. Student services revenue increased for the fiscal year 2001 to $7,163,383 from $1,285,779 in 2000, primarily as a result of the acquisition of The College Partnership (TCP (1) (Transmission Control Protocol) The reliable transport protocol within the TCP/IP protocol suite. TCP ensures that all data arrive accurately and 100% intact at the other end. , formerly College Resource Management, Inc.) and a full year's activity from the acquisition of College Foundation Planners, Inc. (CFPI CFPI Colorado Fiscal Policy Institute CFPI Cooperative Foundation Philippines, Inc. CFPI Cross Functional Process Improvement CFPI Christian Financial Planners Institute (now Christian Financial Professionals Network) ) in 2001. The Company achieved profitability in fourth quarter for the first time in its history after reporting losses of $4,150,000 for the first three quarters of fiscal 2001. Most of the consolidation of acquired companies, restructuring of certain operations and product improvement are behind it and the Company expects to be profitable in fiscal 2002. Jerome M. Lapin, 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 CBSA CBSA Canada Border Services Agency CBSA Core-Based Statistical Area CBSA Colorado BioScience Association CBSA College-Bound Student-Athlete CBSA Corporate Benefit Services of America CBSA Canadian Blind Sports Association CBSA Canadian Billiards & Snooker Association , said: "We are extremely pleased with our results for fiscal 2001 as it shows that our business model is working as planned. We expect revenues to continue increasing in fiscal 2002 and beyond, as we expand our direct sales force, direct marketing campaigns to improve workshop attendance, expand the corporate partnership program and implement the CFPI-enhanced services model nationwide." College Bound Student Alliance is a full-service education and career preparation company. In over ten years, CBSA has helped over 30,000 students receive in excess of $170 million dollars in financial assistance. Some CBSA student clients have had their fees underwritten by local offices of corporate sponsors, including: Coca-Cola (NYSE NYSE See: New York Stock Exchange :KO), American Express American Express (NYSE: AXP), sometimes known as "AmEx" or "Amex", is a diversified global financial services company, headquartered in New York City. The company is best known for its credit card, charge card and traveler's cheque businesses. (NYSE:AXP The brand name Digital gave to its first family of Alpha-based computers. In 1998, Digital was acquired by Compaq. See Alpha. ), Citicorp (NYSE:C), Pittsburgh Steelers, Denver Broncos and many more. This release may contain forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the effect of government regulation, competition and other material risks. |
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