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VEGAS CHIPS ANNOUNCES COMMON STOCK OFFERING

 VEGAS CHIPS ANNOUNCES COMMON STOCK OFFERING
 NORTH LAS VEGAS, Nev., July 16 /PRNewswire/ -- Vegas Chips, Inc., a


Delaware corporation, (the "company") announced today it has registered 2 million shares of the company's common stock in a secondary offering. The registration statement became effective on June 22, 1992. The company should net between $450,000 and $575,000 after selling expenses if all shares offered are sold. The company will have approximately 13,300,000 shares outstanding if all shares offered are sold. The company will use the proceeds to retire debt and for general working capital. The company may also purchase the 3.7 acre property and building it currently leases if substantially all shares are sold and favorable terms can be finalized with the current owners.
 The company received a temporary exception until Aug. 20, 1992 for its common stock to remain listed on the NASDAQ Small-Cap market. The exception was granted because the company did not currently meet the total assets, capital and surplus or bid price requirements. The company believes that if the capital can be raised through the secondary offering that it can meet these requirements, however, there can be no assurance that it will do so. If at some future date the company's securities should cease to be listed on the NASDAQ Small-Cap market, they may continue to be listed in the OTC-Bulletin Board. For the duration of the exception, the company's NASDAQ symbol will by VCHP(c).
 Net sales for the three months ending June 30, 1992 were approximately $655,000 compared to $464,200 for the same period in the prior year. The increase is primarily from the further development of the distribution of other company's snack products and the expansion of the market for products under the Vegas Chips label. The company currently distributes over 450 snack food products of other companies and its own "Vegas Chips" products. "Vegas Chips" label products include eight flavors of Kettle Style Potato Chips, Playing Card Cookies, Karmel Corn, Pork Rinds and Cheese Puffs.
 The company's management is very optimistic of the current and future operations. Although the company lost $308,000 for the year ended March 31, 1992 only $66,000 was lost in the final six months of the fiscal year of which $48,000 was depreciation and amortization. The company estimates its loss for the quarter ending June 30, 1992 to be less than $40,000 which includes the annual auditing costs of $18,000 and depreciation of $24,000. Management believes the quarter ending Sept. 30, 1992 will be the first quarter in the company's history with a profit before depreciation and amortization.
 -0- 7/16/92
 /CONTACT: Paul Adams, chief financial officer or Richard Falk, vice president, 702-647-3800, both of Vegas Chips/
 (VCHP(c)) CO: Vegas Chips, Inc. ST: Nevada IN: FOD SU:


JB -- FL015 -- 9829 07/16/92 14:01 EDT
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Publication:PR Newswire
Date:Jul 16, 1992
Words:481
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