First Colonial Ventures, Ltd. corporate update for January 1996.LOS LOS Length of stay, see there ANGELES--(BUSINESS WIRE)--Jan. 11, 1996--First Colonial Ventures, Ltd. is pleased to report that the restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). efforts undertaken during the first half of 1995 have begun to generate positive results. Recent corporate developments which were made possible by the 1995 corporate restructuring efforts, include: --Over the nine month period between December 31, 1994 and September 30, 1995, First Colonial's reported assets increased from approximately $2.4 million to $11.0 million. During the same period, total shareholder equity improved from a deficit of $16,300 to a surplus of approximately $8.2 million. --For the quarter ending on September 30, 1995, First Colonial reported a 25% increase in revenues. Third quarter revenues were $1,109,115 compared to $886,628 for the same period a year ago. First Colonial's loss per share decreased to $0.019 a share from $0.023 a share for the same period a year ago. --For the nine month period ending on September 30, 1995, First Colonial reported a profit of $11,283 compared to a loss of $329,284 for the same period a year ago. --First Colonial's investment divisions - First Colonial Funds, Ltd. and Colonial Funds, Limited - have already signed three contracts to provide an aggregate of $38 million in funding in 1996; First Colonial intends to generate a total of $70 million in funding throughout 1996. --First Colonial has retained a public relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most firm to assist with developing and implementing strategies and programs aimed at broadening investor awareness Investor Awareness is knowledge the investment community has of a company. [1] It can be looked at like this: “Do investors know about your company?” If the answer is “yes,” then it could be said that the company has “good investor awareness” and enhancing overall shareholder value. --First Colonial recently completed a reverse stock split which reduced the total number of outstanding shares to 5,786,083. The reverse stock split enables First Colonial to apply for and secure a NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on Small-Cap Small-cap A stock with a small capitalization, meaning a total equity value of less than $500 million. small-cap 1. Of or relating to the common stock of a relatively small firm having little equity and few shares of common stock listing within the near future. First Colonial plans to continue integrating its various interests, as well as acquire new interests, in order to achieve the highest rate of return for its shareholders. First Colonial also believes the recent trends in improving assets, total shareholder equity, revenues and earnings will continue. First Colonial Ventures, Ltd. is a Registered Business Development Corporation that invests in promising over-the-counter companies through two Portfolio Investment Companies: First Colonial Funds, Ltd. and Colonial Funds, Limited. First Colonial Ventures has diversified diversified (di·verˑ·s interests in advanced technologies, real estate, oil and gas, biotechnology and consumer goods consumer goods Any tangible commodity purchased by households to satisfy their wants and needs. Consumer goods may be durable or nondurable. Durable goods (e.g., autos, furniture, and appliances) have a significant life span, often defined as three years or more, and . CONTACT: Sitra Enterprises, Inc. Public Relations 512/453-3817, Fax: 512/453-7553 |
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