Digital Learning Management Corporation Files Annual Report; Pro Forma Financials.
LOS ANGELES--(BUSINESS WIRE)--April 7, 2004
Digital Learning Management Corporation (OTCBB: DGTL) today announced that it recently filed its Annual Report on Form 10-KSB with the Securities and Exchange Commission. The Annual Report contains the Company's financials for the fiscal year ended December 31, 2003 and also contains pro forma financials reflecting the Company's previously reported merger transaction in January 2004 with Digital Learning Institute, Inc. The pro forma financials report consolidated revenues of $4,551,087 and a consolidated pre-tax income of $333,372. The Annual Report also contains information regarding our previously announced $3.0 million convertible note financing that closed in February 2004. Digital Learning Management Corporation is a reporting company and all filings can be accessed free of charge on the Internet at www.sec.gov.
Zeb Bhatti, President of the Company, said, "We are pleased to have announced our financing that will enable us to execute on our business plan. We are well positioned in the marketplace to grow by acquisition and look forward to expanding our CourseMate Virtual University system. We will be aggressively pursuing business opportunities to create shareholder value and increase our profitability."
About the Company
The Company is a provider of private post-secondary education in North America. Its education institutions offer a broad range of academic programs in Information Technology, Business & Management, Telecommunications and other Applied Industrial Technologies, culminating in the award of certificates through Bachelor degrees. With its proprietary "CourseMate Virtual University" system, its learning institutions are able to seamlessly implement a "Blended Learning" environment and provide a powerful learning experience, whether in a traditional classroom setting or delivered directly to a desktop computer. CourseMate VU is a powerful e-Learning platform that fully integrates all aspects of learning, resulting in a profoundly effective way to instruct and learn.
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements involve risk and uncertainties that could cause actual results to differ materially from any future results described within the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company's reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release.
|Printer friendly Cite/link Email Feedback|
|Date:||Apr 7, 2004|
|Previous Article:||China Ventures Inc. Announces Significant New Corporate Strategy.|
|Next Article:||IDT to Webcast Fourth Quarter and Fiscal Year 2004 Financial Results on April 22, 2004.|