Axia Group Inc. Releases Preliminary Financial Information
Thursday May 10, 11:00 am ET
SAN DIEGO, May 10 /PRNewswire-FirstCall/ -- Axia Group, Inc. (Pinksheets: AXGJ - News) today released preliminary financial information on the company's operations during the last two quarters. In the period of October 1, 2006 to December 31, 2006, the company posted $261,517 in gross revenues. During the period of January 1, 2007 to March 31, 2007, the company posted gross revenues of $364,988. These financial statements have not been audited and reflect the company's internal accounting.
Stated Jeffrey Flannery, CEO of Axia, "The latter part of 2006 and the first months of 2007 have been a trying time in Sri Lanka, and our major project, the 250 homes in Batticaloa, has had its progressed slowed by the conflict. SOS Kinderdorf, the sponsor of the Batticaloa project, has been understanding and supportive, as we may be one of few companies still building in the area. Needless to say, I am very proud of the Axia workers who have continued to do such outstanding work in this troubled area. But we have not been able to complete the project and so our revenues are down from what we expected for these two quarters."
Added Flannery, "We have gone through a major reorganization of the company, and are now prepared to focus more on several commercial and residential projects that will be very significant for the company. Our new alliance with MSEM should also give us additional support and resources to grow rapidly. I expect to release more complete financials before the end of May."
More information on Axia Group, Inc. can be found on the company web site at www.axiagroup.info.
Investors are cautioned that certain statements contained in this document as well as some statements in periodic press releases and some oral statements of AXGJ officials are "Forward-Looking Statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "believes," "anticipates," "intends," "plans," "expects," and similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future AXGJ actions, which may be provided by management, are also forward-looking statements as defined by the Act. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance, or achievements expressed or implied by such forward-looking statements and to vary significantly from reporting period to reporting period. Although management believes that the assumptions made and expectations reflected in the forward-looking statements are reasonable, there is no assurance that the underlying assumptions will, in fact, prove to be correct or that actual future results will not be different from the expectations expressed in this report. These statements are not guarantees of future performance and AXGJ has no specific intention to update these statements
langsam aber sicher, bis das der TOD uns scheidet !!!!!!!!!!!!!
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