USA: Important Sales Increase for FTI Foodtech International Inc. for Year-End March 31, 2000
Mr. Bill Hullah, President of FTI Foodtech International Inc., on behalf of the board of directors for the company, announced today that the March 31, 2000 Financial Statements demonstrate a gross revenue of $916,958 (compared to 1999 $173,003) and a profit of $44,953 (compared to 1999 a loss of $18,215) which represents 0.007 cents per share (compared to a loss in 1999 of 0.002 cents per share). The total assets of the corporation have increased to $709,586 (compared to $224,363 for 1999). The sharp increase in sales can be contributed to the success of the Food Product Sales Division which commenced in February 2000. Mr. Hullah has also stated that the private placement announced April 7, 2000 for 500,000 shares at $0.40 will not be completed as planned. The placee currently is having difficulty in raising the funds necessary to close the placement. The CDNX Exchange has neither approved nor disapproved the contents of this press release.
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