Invicta Group Inc. 2nd Quarter Results; Revenues Increase 373 times 2nd QTR; Revenues Increase 452 Times 6 Months.MIAMI BEACH Miami Beach, city (1990 pop. 92,639), Dade co., SE Fla., on an island between Biscayne Bay and the Atlantic Ocean; inc. 1915. It is connected to Miami by four causeways. , Fla. -- Invicta Group Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:IVGA IVGA International Video Gamers Association, Inc. IVGA Internal Vga IVGA Integrated Vga ) announces the 2nd Quarter results June 30, 2004: Revenues were 373 times ahead of revenues for the same period June 30, 2003: $3,858,568 versus $10,337 respectively. The first 6 months ending June 30, 2004 revenues increased 452 times to $6,071,979 vs. $13,426 June 30, 2003. Invicta reported a loss from the 2nd Quarter 2004 of $387,603 for the quarter ending June 30, 2004, a loss of $0.007 per share versus losses of $121,589 in 2003, $0.004 per share loss. The company reduced losses from the 1st Quarter by $ 87,173. Invicta opened offices in Las Vegas Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. for newly formed subsidiary named Las Vegas Excitement Inc. an online tour operator offering Las Vegas travel and entertainment products to the public; and opened a Cruise Only subsidiary in Miami Miami, cities, United States Miami (mīăm`ē, –ə). 1 City (1990 pop. 358,548), seat of Dade co., SE Fla., on Biscayne Bay at the mouth of the Miami River; inc. 1896. , Fl. called Cruise Excitement Inc. These start up operations required marketing and staffing investments, increasing losses for the 2nd Quarter, providing new products that will produce additional revenues the remainder of 2004. Bill Forhan, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Invicta Group Inc. states: " We are positioning the company to cross market travel products and increase revenues. Our goal is to have the operational foundation in place, add more technology for online reservations, enhance our search and booking engines, and market the companies via B-2-B customers and B-2-C consumers online. We are also completing equity funding Equity funding An investment consisting of a life insurance policy and a mutual fund. The insurance policy is paid by the collateral value of fund shares, giving the investor the advantages of insurance protection with the growth potential of a mutual fund. that will provide IVGA the cash resources required to implement our business plan and assure continued growth. Management is not happy with the current financial results or stock price, we are happy with revenue increases and the subsidiaries we have in place to grow the company. We believe continued marketing and trained associates will continue the revenue growth and put IVGA in position to become profitable." Except for the historical information contained herein, this press release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from the results predicted and reported results should not be considered an indication of future performance. In addition to the factors discussed in the filings with the Securities and Exchange Commission, among the other factors that could cause actual results to differ materially are the following: adverse changes in the business conditions and the general economy; competitive factors, such as rival companies' pricing and marketing efforts; availability of third-party material products at reasonable prices; the financial condition of the customer; risks of obsolescence ob·so·les·cent adj. 1. Being in the process of passing out of use or usefulness; becoming obsolete. 2. Biology Gradually disappearing; imperfectly or only slightly developed. due to shifts in market demand; and litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. involving product liabilities and consumer issues. Invicta Group Inc. cautions readers not to place undue reliance upon any such forward looking statements, which speak only as of the date made. Invicta Group Inc. expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any such statements to reflect any change in the company's expectations or any change in events, conditions or circumstances on which any such statement is based. |
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