Fountain Fresh sales climb in 1994; higher development, marketing outlays increase loss.SALT LAKE CITY--(BUSINESS WIRE)--July 26, 1995--Fountain Fresh International (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 EBB:FNTF), developers of the world's first in-store, self-serve beverage systems, reported Wednesday a 63 percent increase in revenues for calendar year 1994 but a larger loss for the period due principally to substantial investments in product development and international marketing activities. Otto Otto, Austrian archduke Otto: see Hapsburg, Otto von. Cutts, president and chief executive officer, said last year saw completion of several key development projects which permitted aggressive international marketing of the company's 24 and 12-flavor automatic soft drink/pure water dispensing dispensing provision of drugs or medicines as set out properly on a lawful prescription. A prescription can only be filled, the drugs supplied, by a registered pharmacist, veterinarian, dentist or member of the medical profession. systems. The results of that effort have been clearly evident over the past six months, he said, with 60 machines already shipped and 40 more in process. The projection for 1996 is 250 systems. Sales in 1994 rose to $893,789 from $331,920 in 1993, he reported, with the net loss totaling $1,326,163 against a 1993 deficit of $649,587, equal to $.04 and $.02 per share, respectively. Resources devoted to development reached $382,241, nearly four times the 1993 total, as the 12-flavor beverage center and design of the company's own syrup syrup /syr·up/ (sir´up) a concentrated solution of a sugar, such as sucrose, in water or other aqueous liquid, sometimes with a medicinal agent added; usually used as a flavored vehicle for drugs. blending and packaging plant, now in production, were completed. Meanwhile, the company's current asset-to current liability ratio increased to 1.8 from 1.3 in 1993, and long term debt was reduced by 61 percent to $295,039. Fountain fountain, natural or artificially conveyed flow of water. In ancient Greece columnar shrines were built over springs and dedicated to deities or nymphs. In ancient Rome fountains fed by the great aqueduct system furnished water in the streets, in the villa gardens, Fresh's BEVERAGE CENTER 2000 dispensers are currently operating here in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , and in Canada, Australia, the Philippines and 10 systems were shipped last week to Russia. Cutts said marketing arrangements are also near signature with interests in Sweden, Austria, Greece, and Malaysia. Meanwhile, advanced discussions are under way with two of North America's largest food and beverage F&B is a common abbreviation in the United States and Commonwealth countries, including Hong Kong. F&B is typically the widely accepted abbreviation for "Food and Beverage," which is the sector/industry that specializes in the conceptualization, the making of, and delivery of foods. companies, with test marketing expected to begin shortly. CONTACT: Molesworth Associates Inc., Green Valley, Ariz. Gordon Molesworth, 520/625-0035 |
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