Fun Cosmetics, Inc. Announces Results of Its First FY Operations.HILLSIDE, N.J.--(BUSINESS WIRE)--March 1, 1999--Fun Cosmetics Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). : BB FCSM FCSM Federal Committee on Statistical Methodology FCSM Football Club Sochaux Montbéliard FCSM Fellow of the Cambridge Society of Musicians FCSM Frame Cell Switching Module (XYLAN) ), has reported the audited results of it first fiscal year based upon 9 (nine) months of operations. The company began operations in January of 1998. Revenues for FY 98 (ending September 30, 1998) were $3.99 million, gross profits were $1.10 million and net profit after income tax was $23,843 or $.01 per share. David Blau President and C.E.O. Said: "our goal was to be profitable in our first year of operations and we were." Blau also commented that the company had invested heavily in its 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 and advertising in efforts to build the Fun(R) brand. In addition, the company incurred many one time costs related to the start up of operations." The company reiterated that they are now in the process of preparing their application to become a reporting company and plans to release full details of the audit when it files its Form 10. FUN is a youth oriented o·ri·ent n. 1. Orient The countries of Asia, especially of eastern Asia. 2. a. The luster characteristic of a pearl of high quality. b. A pearl having exceptional luster. 3. cosmetics company whose products are targeted at the 12 -19 year old age demographic and to those fashion conscious women of all ages who want to experiment with the latest trends in make-up. The company markets and distributes to the mass market under the brand names FUN(R), CARABELLA (R) and JUICY LIPS (R) the company is also a manufacturer of cosmetic pencils. Fun's web strategy is to create brand awareness, drive store traffic and expand the Fun(R) Brand to merchandise and other offerings not available in stores. 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. Statement under 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: Certain information contained in this release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve risks and uncertainties, including but not limited to, those relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc development and expansion activities, dependence on existing management, financing activities, domestic and global economic conditions, and market competition. -0-
Year Ended
September 31, 1998
Gross Revenue $3,994,710
Net Revenue $3,319,249
Gross Profit $1,107,296
Net Income $ 23,843
Net Income per Share, basic and diluted $ .01
Weighted average number of shares outstanding (diluted) 3,462,917
Company web Address: www.funcosmetics.com |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion