Opening First Retail D.J. Store.Business & Entertainment Editors HOUSTON--(BUSINESS WIRE)--June 18, 2001 Entertainment Technologies & Programs Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ETPI ETPI Eastern Telecommunications Philippines Inc. ), announced today the opening of its first retail D.J. store for its Performance Sound & Light (PS&L) subsidiary. The space is approx 4,100 sq ft and is located at 17300 Saturn Saturn, in astronomy Saturn, in astronomy, 6th planet from the sun. Astronomical and Physical Characteristics of Saturn Saturn's orbit lies between those of Jupiter and Uranus; its mean distance from the sun is c.886 million mi (1. Lane in Houston. The store focuses on the sale and installation of a wide array of sound, light and video equipment including: intelligent lighting and intelligent lighting systems; video distribution systems; club and PA sound systems and various D.J. gear to satisfy the needs of the beginner to the professional. ETPI is projecting the store to produce monthly revenue of $30,000 and operate on 40% to 50% gross margin within six months. Last month ETPI consolidated all three of the company's subsidiaries into the new Saturn office complex. The move results in a 50% reduction in rent and fixed overhead and improves the worker communication and productivity while also allowing the space for the much-needed retail D.J. store. Recently, ETPI has named Mark Madamba as president of the entire PS&L division. Mr. Madamba began working as an electronic technician See PC technician and software technician. in the Air Force In 1982, at the age of 19. He served as a technical advisor and program manager for the $30 million-a-year Air Force slot machine program, which then encompassed over 35 bases worldwide. He joined ETPI in 1995 as president of the company's Stargate Entertainment subsidiary. "I'm excited about the opportunity this position provides," stated Madamba. "The company has been aware of the financial benefits to opening a retail D.J. store and it's nice to finally have the resources to bring that to fruition fru·i·tion n. 1. Realization of something desired or worked for; accomplishment: labor finally coming to fruition. 2. Enjoyment derived from use or possession. 3. . While I intend to aggressively pursue civilian market sales for PS&L, my military background and relationships should increase our military sales. PS&L has come a long way over the years. We have moved from straight military night club sales and installations to a company that now offers customized sound, light and video systems for all military applications including: clubs; ballrooms; bowling alleys; community centers; conference halls and outdoor pavilions," concluded Madamba. Last month the PS&L division had one of its best months. The company had revenue of over $200,000 and a gross margin of 45%. For more information about ETPI visit the company's Web sight (www.etpinc.net). To be placed on our mailing list An automated e-mail system on the Internet, which is maintained by subject matter. There are thousands of such lists that reach millions of individuals and businesses. New users generally subscribe by sending an e-mail with the word "subscribe" in it and subsequently receive all new for company updates e-mail (pcardwell@etpinc.net). This release includes 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. made pursuant to the 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. provision of 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. Any such forward-looking statements may involve risks and uncertainties that could cause actual results to differ materially from any future results encompassed with the forward-looking statements. Factors that could cause or contribute to such differences include those matters disclosed in the company's Security and Exchange Commission filings. |
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