Daleco Announces Second Quarter Earnings.Business Editors WAYNE, Pa.--(BUSINESS WIRE)--June 26, 2000 Daleco Resources Corporation (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :DLOV) Dov Amir, Chairman of the Board and Chief Executive Officer, announced today that the Company's second fiscal quarter ended March 31, 2000 resulted in net income of $310,341 or $0.10 per share as compared with a loss of $462,706 or $0.14 per share for the same period last year. For the six month period ended March 31, 2000, the company reported a loss of $373,362 or $0.12 per share compared with a loss of $989,891 or $0.32 per share for the same period in the prior fiscal year. The total number share outstanding of 3,102,577 was the same for both periods. Gary Novinskie, President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. , said that the improved results are due to increased oil and gas prices, lower 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. and an extra ordinary item of $408,765 due to the Company's divestment of certain oil and gas properties located in Kansas and Oklahoma. Messrs. Amir and Novinskie noted that with the anticipated closing of the Clean Age Mineral transaction reported earlier, the improved oil and gas prices as well as the continued efforts to market its tropical hardwoods from South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. , the Company looks forward to a dynamic future. Daleco Resources Corporation is an international natural resource company with holdings in oil and gas, timber and minerals. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. for Forward-Looking Statements: Except for historical information contained herein, the statements in this Press Release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in the future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, product price volatility, product demand, market competition, risk inherent in the Company's domestic and international operations Internal Operations (I.O., IO or I/O) is a fictional American Intelligence Agency in Wildstorm comics. It was originally called International Operations. I.O. first appeared in WildC.A.T.S. volume 1 #1 (August, 1992) and was created by Brandon Choi and Jim Lee. , imprecision im·pre·cise adj. Not precise. im  pre·cise ly adv. in
estimating product reserves and the Company's ability to replace
and expand its holdings.
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