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Pay-By-The-Day Sales Up Significantly in December 2004; Consolidated General Expects Continued Growth in 2005
SARASOTA, FL, Jan. 26, 2005 (MARKET WIRE via COMTEX) -- Consolidated General Inc. (OTC: JVGI) announced today that monthly net sales for its minority-owned subsidiary Pay-By-The-Day grew eight-fold in December 2004 over the same month period in 2003. Consolidated General acquired a 20 percent interest in Pay-By-The-Day in November 2004.
Pay-By-The-Day, www.paybytheday.com , is an emerging Canadian retail electronics distributor. The company provides electronics to consumers using innovative distribution and financing methods to customers with less than perfect credit at appropriate premium rates. Through its strong belief in utilizing the Internet and modern technology, the Company has experienced great success in advertising and marketing its products and services.
According to Pierre Quilliam, CFO of Consolidated General, "These increased sales for December 2004 are a strong indication that Pay-By-The-Day, and its unique method of marketing computers and electronics, is growing in popularity among consumers in Canada. Indications are that word of mouth, and a strong Internet presence, are the likely reasons for this extraordinary growth. We are looking forward to even more robust sales numbers in 2005."
About Consolidated General:
Consolidated General is a business development company engaged in participating with privately held companies in the areas of financing, business & product development, marketing, and distribution channels. The Company operates a subsidiary business model and intends to build a valuable portfolio of companies through strategic acquisitions and developing acquired businesses.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the Company's control with respect to market acceptance of new technologies or products, delays in testing, and evaluation of products, and other risks detailed from time to time in the Company's filing with the Securities and Exchange Commission.
Contact: Rich Kaiser YES INTERNATIONAL for Consolidated General Inc. 800-631-8127 Investor Relations: Equitilink LLC 877-788-1940 SOURCE: Consolidated General, Inc. Copyright 2005 Market Wire, All rights reserved.
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