Collegiate Pacific CEO Files Form 4; Additional Purchases Considered.Business Editors DALLAS--(BUSINESS WIRE)--Aug. 9, 2000 Collegiate col·le·giate adj. 1. Of, relating to, or held to resemble a college. 2. Of, for, or typical of college students. 3. Of or relating to a collegiate church. Pacific (AMEX AMEX See: American Stock Exchange :BOO) today announced that its Chief Executive Officer and majority shareholder, Michael Michael, archangel Michael (mī`kəl) [Heb.,=who is like God?], archangel prominent in Christian, Jewish, and Muslim traditions. In the Bible and early Jewish literature, Michael is one of the angels of God's presence. Blumenfeld, filed a Form 4 reflecting the recent purchase of 5,000 shares at prices ranging between $7 and $8.25. Mr. Blumenfeld owns approximately 60% of the common shares outstanding or approximately 2.2 million shares. Commenting on these recent purchases, Mr. Blumenfeld stated, "Collegiate is continuing to outperform Outperform An analyst recommendation meaning a stock is expected to do slightly better than the market return. Notes: Exact definitions vary by brokerage, but in general this rating is better than neutral and worse than buy or strong buy. the industry standards by a wide margin and I have every belief the Company will continue to do so. Revenues are growing 10 times faster than the industry average which will translate into substantial earnings leverage. That coupled with a debt free balance sheet and an 8 to 1 current ratio makes for an appealing situation. The business platform that is being built has become a very attractive launching pad for both the Company and prospective partners as we expand both internally and externally in the periods ahead. I expect to continue purchasing shares subject to price, availability of shares and the amount of capital dedicated to such activity." This news release, other than historical data, consists of 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. that involve risks and uncertainties detailed from time to time in filings with the Securities and Exchange Commission. |
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