PCBM's All Pro Group Posts Seventh Consecutive Profitable Month, July Figures Show; Preliminary Sales Report Shows Stable Growth For Pinnacle Business Management Unit
CLEARWATER, Fla. & PITTSBURGH--Aug. 28, 2001--Pinnacle Business Management (Pink Sheets: PCBM) has announced the preliminary and un-audited July financials for its McMurray, Pa.-based All Pro business unit.
During the month of July 2001, the All Pro division saw total combined sales in excess of $770,000, resulting in pre-tax profits of approximately $54,000.
All Pro recorded its seventh-consecutive profitable month since it became part of PCBM. These figures encompass each of the All Pro business units operating in McMurray, Pa., including All Pro Daewoo, the All Pro Auto Mall and All Pro Communications (both wireless and wired systems units).
"We signed significant agreements in recent months and expect to increase sales and profits in the near future," said Vince Lo Castro, COO of PCBM. "These relationships clearly show that they are excellent vehicles for the growth of the All Pro companies," Lo Castro added.
"I am proud to say that even in a `down-turn economy,' All Pro has seen seven profitable months in a row," said Jeff Turino, CEO of PCBM.
Speaking specifically to Pinnacle shareholders Lo Castro added, "We have worked hard over the past few months and intend to announce two major deals which should make the company virtually debt free, thereby strengthening our position in the marketplace. Like our loyal shareholders, I too would like to see the stock price reflect our strong business reports. I can report that the factors that have held our stock price down are being dealt with. My message to the shareholders is hang tough. PCBM and All Pro are here to stay, grow and prosper. We will weather the storm! I believe PCBM and All Pro have the potential to be a Horatio Alger success story."
About Pinnacle Business Management
Pinnacle Business Management (Pink Sheets: PCBM) commenced operations in 1996 in Florida. The company operates Fast PayCheck Advance, a firm that offers instrument-for-instrument paycheck advance transactions. Fast PayCheck Advance is licensed to operate in nine states. The company also operates the All Pro Group of Companies, a collection of interrelated businesses in Western Pennsylvania that includes several automobile and telecommunications entities.
For more information call Cynthia Mandel at 954/973-3493.
Safe Harbor for Forward-Looking Statements: Except for historical information contained herein, statements in this news release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the company's actual results in the future periods to differ materially from the forecasted results. These risks and uncertainties, include, among other things, product price volatility, product demand, market competition, risk inherent in the company's domestic and international operations, imprecision in estimating product reserves and the company's ability to replace and expand its holdings.