ENTERTAINMENT EQUITY CORPORATION ANNOUNCES ACQUISITION OF SOUTHWEST MEMORY, INC.
DALLAS, Jan. 4 /PRNewswire/ -- Mr. Pat Custer, president of Entertainment Equity Corporation (EEQC), today announced the acquisition of Southwest Memory, Inc. (Southwest) of Dallas. Southwest Memory, Inc. is a computer chip distribution company formed in 1986, with 13 full time employees. The company's services include proprietary and specialty chip distribution to major participants in the computer industry. Sales for calendar year 1992 are estimated to exceed $28,000,000 with projected net income of approximately $525,000. Preliminary estimate of 1993 sales should exceed $35,000,000 with net income before taxes of $600,000. EEQC had 6,761,500 shares outstanding prior to the Southwest acquisition which required an additional 500,000 of newly issued but authorized shares to increase total outstanding shares of 7,261,500. Southwest will operate as a wholly owned subsidiary of EEQC. EEQC is a publicly owned and traded company on the OTC Bulletin Board market. -0- 1/4/93 /CONTACT: Neal Katz or Phill Scheldt of Entertainment Equity Corporation, 214-233-0900/
CO: Entertainment Equity Corporation; Southwest Memory, Inc. ST: Texas IN: CPR SU: TNM
AH -- NY067 -- 1400 01/04/93 15:46 EST
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|Date:||Jan 4, 1993|
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