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Author Topic: SNIO *great news* Should run Tuesday (.017)
gfinney
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Saw this in the news for Tuesday, thought it deserved a thread. Credit to Wallymac for posting it!

SNIO -- Senticore, Inc. Last Sale: 0.0170

SENTICORE INC Quick Quote:
SNIO 0.02 (-0.00)
Senticore, Inc. Records First Profitable Quarter Since 1999
7/10/2006
SAN ANTONIO, July 10, 2006 /PRNewswire-FirstCall via COMTEX News Network/ --

Reversing a 7-year history of consistent quarterly losses averaging $150,000 per quarter, Senticore's (OTC 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

SOURCE Senticore, Inc.

Gilbert R. Kaats, or Samuel C. Keith, both of Senticore, Inc., +1-210-824-4416 http://www.prnewswire.com
Copyright (C) 2006 PR Newswire. All rights reserved.

Posts: 192 | Registered: May 2006  |  IP: Logged | Report this post to a Moderator
gfinney
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TJSS is also on Radar, since this press release basically attributes most of it's profitability in it's stake in TJSS's business.
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djg7
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Gapper .018 x .02.
Posts: 2309 | From: Minnesota | Registered: Feb 2006  |  IP: Logged | Report this post to a Moderator
   

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