Core Solutions Restates 2003 Strategic Development Plan.Business Editors LOS ANGELES--(BUSINESS WIRE)--Jan. 13, 2003 Core Solutions, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :CSUO) restated today its 2003 Strategic Development Plan. Development will target 3 specific areas; Mergers & Acquisitions, Sales & Marketing, and Operations. Highlights include: Mergers & Acquisitions The company is actively pursuing mergers and acquisitions candidates both directly and through intermediary business brokers. For the entire year of 2003, the company intends to acquire an organization a month representing at least $10 Million in revenue each. Management is following very stringent and restrictive due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. procedures to ensure successful integration of acquired operations with limited or no liabilities for its shareholders. As such, the company is also pursuing profit-sharing arrangements on books of business managed by those organizations that have liabilities exceeding comfortable levels. By purchasing only specific accounts while not assuming any past liabilities, management will be able to increase the number of potential acquisition candidates by over 500%. Negotiations are currently taking place for acquisitions slated for January for both categories. Sales & Marketing The company intends to hire and train two new salespeople sales·peo·ple pl.n. Persons who are employed to sell merchandise in a store or in a designated territory. per month to add to its existing sales force while pursuing 5 separate and distinct channels of distribution. The company has also tested over 100 small business market segments over the past several months and has identified 15 markets that have responded disproportionately dis·pro·por·tion·ate adj. Out of proportion, as in size, shape, or amount. dis  pro·por higher than
others. The company started rolling out comprehensive marketing
initiatives to these segments on January 1 and anticipates generating
first quarter 2003 revenue exceeding 5 times that of any quarter in
2002.
Operations Corporate headquarters will continue to remain in Greater Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. while Human Resource and Payroll Processing Personnel will be located in satellite locations by mid-year. The company intends to reduce its average expenditure per check by upgrading its current payroll software, reducing the average labor expense by 30%, and cutting its facilities cost by 50%. Management has determined that these goals can only be achieved by moving processing operations out of Los Angeles. Specific locations are currently under consideration in Las Vegas Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. , Nevada and Albuquerque, New Mexico “Albuquerque” redirects here. For other uses, see Albuquerque (disambiguation). Albuquerque (pronounced [ˈæl.bə.kɚ.kiː], Spanish: [al.βu. . 2003 Outlook Management anticipates an extremely successful year in 2003, and expects to continue to remain on target for $250 Million in annual revenues within 36 months. Resolution in the past quarter of numerous governance and legal problems inherited inherited received by inheritance. inherited achondroplastic dwarfism see achondroplastic dwarfism. inherited combined immunodeficiency see combined immune deficiency syndrome (disease). from previous management has resulted in a significant reduction in long-term corporate liabilities. Also as a result, current management can now focus primarily on cost control, revenue development and profit margins for the coming year. Due to exceptionally favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. market conditions and current mergers & acquisitions prospects, the company expects to generate revenue for 2003 exceeding 5 times that of any previous year. About Core Solutions, Inc. Core Solutions, Inc. is a technology-based human resource consulting Services Provided Human Resource Consulting firms provides advice to their clients regarding the financial and retirement security, health, productivity, and employment relationships of their global workforce. firm. Headquartered in Los Angeles, Core Solutions offers a comprehensive selection of integrated solutions for the management and administration of human resource needs to clients nationwide. By aggregating the workforces of multiple clients, the Company delivers a full spectrum of human resource solutions to small and mid-sized businesses that are timely, valuable and extremely cost effective for its clients and their employees. For more information, visit http://www.corehr.com. The statements contained in this press release that are not historical facts are 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 a number of risks and uncertainties. Therefore, the actual results of future events described in such forward-looking statements could differ materially from those stated in such forward-looking statements. Among the factors that could cause actual results to differ materially are: (i) regulatory and tax developments; (ii) the effectiveness of the Company's sales and marketing efforts; (iii) changes in the competitive environment of the industry; (iv) changes in general economic conditions; (v) changes in the Company's direct costs and operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. ; (vi) the estimated costs and effectiveness of capital projects and investments in technology and infrastructure. (vii) Management's ability to effectively implement its business strategy. These factors are described in further detail in Core Solutions, Inc. filings with the Securities and Exchange Commission. |
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