Senticore, Inc. Records First Profitable Quarter Since 1999
11 Juillet 2006 - 1:03AM
PR Newswire (US)
SAN ANTONIO, July 10 /PRNewswire-FirstCall/ -- Reversing a 7-year
history of consistent quarterly losses averaging $150,000 per
quarter, Senticore's (OTC:SNIO) (BULLETIN BOARD: SNIO) new
management team announces that its net profit for the quarter
ending June 30, 2006 will exceed $500,000. "We are a Business
Development Company, or BDC," explained Gilbert R. Kaats,
Senticore's CEO, "and our profit is calculated based on increases
in the company's net assets from the portfolio companies it
acquires. If the value of one of our portfolio companies increases,
our net profit increases, providing the increase is not offset with
a corresponding increase in liabilities," Kaats pointed out. The
main source of the net profit for this quarter was an increase in
the value of the shares of Taj Systems, Inc. (Pink Sheets: TJSS),
one of Senticore's portfolio companies that trades on the Pink
Sheets under TJSS. The increase in assets that led to the profit
does not include Integrative Health Technologies, Inc.'s (IHT)
assets which were acquired in the merger. The company's June 13,
2006 press release estimated that IHT's assets could have a value
in excess of $7,800,000. "However," Kaats said, "in that June
release we also cautioned against using this value for IHT's assets
until an independent audit is completed later this quarter. We have
excluded these assets from our calculation of profits," added
Kaats. The announcement follows on the heels of the company's June
27, 2006 announcement declaring its first dividend ever for all
shareholders of record as of June 30, 2006. The June announcement
also reported that "The amount and timing of the dividend will be
based on funds derived from sale of its 882,353 shares in AdZone
Research, Inc ... " However, when calculating the amount of
dividend to be provided to each shareholder, we found some
restricted certificates that were issued for acquisitions that were
abandoned and never consummated. Since the holders of these
certificates have yet to return their certificates, we are taking
aggressive actions to have them returned or cancelled to avoid
paying dividends to shareholders who are not entitled to receive
them. Forward-Looking Statement: Statements that are not historical
facts are forward-looking statements. The Company, through its
management, makes forward-looking public statements concerning its
expected future operations, performance and other developments.
Such forward-looking statements are necessarily estimates
reflecting the Company's best judgment based upon current
information and involve a number of risks and uncertainties, and
there can be no assurance that other factors will not affect the
accuracy of such forward-looking statements. It is impossible to
identify all such factors, factors that could cause actual results
to differ materially from those estimated by the Company. They
include, but are not limited to, government regulation, managing
and maintaining growth, and the effect of adverse publicity,
litigation, competition and other factors that may be identified
from time to time in the Company's public announcements. Contact
Person: Gilbert R. Kaats or Samuel C. Keith Senticore, Inc., (210)
824.4416 DATASOURCE: Senticore, Inc. CONTACT: Gilbert R. Kaats, or
Samuel C. Keith, both of Senticore, Inc., +1-210-824-4416
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