Collegiate Pacific CEO Filing New Form 4; Additional Purchases Considered.Business Editors DALLAS--(BUSINESS WIRE)--Aug. 18, 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 Blumenfeld, is filing his second Form 4 in the past 10 days reflecting the additional purchase of 7,800 shares at prices ranging between $5.62 and $6.62. Mr. Blumenfeld owns approximately 60% of the common shares outstanding or approximately 2.2 million shares. Commenting on the most recent purchases, Mr. Blumenfeld stated, "I expect to continue purchasing shares subject to the price, availability of shares and the amount of capital dedicated to such activity. The platform built at Collegiate will now accommodate a continuation of growth with limited expansion of overhead resulting in above average growth in profitability and earnings per share. Our financial structure remains one of the most solid in the sports industry with cash on hand in excess of current liabilities Current Liabilities Usually appearing on a company's balance sheet, it represents the amount owed for interest, accounts payable, short-term loans, expenses incurred but unpaid, and other debts due within one year. and we continue to operate in a debt free environment relative to bank indebtedness INDEBTEDNESS. The state, of being in debt, without regard to the ability or inability of the party to pay the same. See 1 Story, Eq. 343; 2 Hill. Ab. 421. 2. ." 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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