CyPost Reports Strong Revenues for Period Ending September 30,2000.Business Editors VANCOUVER, B.C.--(BUSINESS WIRE)--Nov. 21, 2000 CyPost Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :POST) (POST), a leading supplier of internet services in Canada and a global supplier of privacy technology today announced its release of its consolidated financial statements Consolidated Financial Statements The combined financial statements of a parent company and its subsidiaries. Notes: Because consolidated financial statements present an aggregated look at the financial position of a parent and its subsidiaries, they enable you to gauge for the nine months ended September 30, 2000. The Company is pleased to report revenues for the first nine months of 2000 of $3.6 million as a result of solid Internet Service Provider Internet service provider (ISP) Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site (see data transmission), as well as a log-in name and password. sales. In spite of a net loss of $5,261,904 for the nine months ended September 30, 2000, the Company hopes to achieve profitable operations by continuing the consolidation of its network of existing ISPs, reducing administrative costs administrative costs, n.pl the overhead expenses incurred in the operation of a dental benefits program, excluding costs of dental services provided. and telecommunications expenses, centralizing support, and offering value added Value Added The enhancement a company gives its product or service before offering the product to customers. Notes: This can either increase the products price or value. services through the ISPs.Of the net loss, interest expense accounted for $1.9 million and amortization and depreciation of "good-will" accounted for $2.3 million of this amount. "We have updated much of CyPost's infrastructure to accommodate expected business growth and the introduction of new product streams. In the third quarter of 2000, we continued to focus our efforts on further defining our company vision, and building the foundation for CyPost's future growth. We continue to move the company forward." President and Chief Executive Officer Robert Adams Robert Adams or the diminutive, Bob Adams, may refer to: Athletes
"We are focused on balancing acquisition and consolidation in continued business growth while maintaining sales momentum, technological advantage and market penetration Noun 1. market penetration - the extent to which a product is recognized and bought by customers in a particular market penetration - the act of entering into or through something; "the penetration of upper management by women" . This means building shareholder value by initiating and maximizing new sources of revenue such as our prospective bundled security initiative, and bringing innovative privacy and protection solutions to our customers." Mr. Adams added. About CyPost CyPost Corporation (www.cypost.com) develops and bundles e-communication tools for use on the Internet and private networks. The company provides complete security management, including encryption technology, anti-virus software anti-virus software n → Antivirensoftware f and content management applications, for use at entry points and gateways to the Internet. The CyPost Network of Service Providers is a network of wholly owned Application and Internet Service Providers that offers a comprehensive range of solutions to subscribers. This news release contains "forward-looking statements" 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, regarding the Company's business strategy and future plans of operations. Forward-looking statements involve known and unknown risks and uncertainties, both general and specific to the matters discussed in this news release. These and other important factors, including those mentioned in various Securities and Exchange Commission filings made periodically by the Company, may cause the Company's actual results and performance to differ materially from the future results and performance expressed in or implied by such forward-looking statements. The forward-looking statements contained in this news release speak only as of the date hereof and the Company expressly disclaims any obligation to provide public updates, revisions or amendments to any forward-looking statements made herein or to reflect changes in the Company's expectations of future events. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion