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ATLANTA, GA -- (Marketwire) -- 04/22/09 -- AutoMax Group Inc. and subsidiary Kern Automotive Group Inc. (PINKSHEETS: MXWF) are proud to announce that for the month ending March 2009 the company finished with $300k in gross revenue.
Jake Kern, C.E.O., states, "We are proud to release our numbers for the month of March 2009. We were able to post $300K in gross revenues despite the fact that we had our Grand Opening on March 20th. In addition, we are very excited about what our April numbers will come in at. So far, we have already surpassed last month's figures. We continue to employ aggressive advertising and solid selling principles that will carry us toward a winning formula of revenue and profits that will grow our company ever stronger! I would like to invite every one to visit our dealership and think of us when you are ready for your next vehicle purchase!"
About AutoMax Group
In early December of 2008, AutoMax CEO Jacob Kern entered into an agreement to acquire the AutoMax brand, which is now incorporated in the state of Georgia. On December 12, 2008, AutoMax did its first acquisition -- Kern Automotive Group Inc., headquartered in Atlanta, Georgia. Since August of 2006, Kern operated an automotive business that focused exclusively in wholesale and the Buy-Here/Pay-Here used car industry. With sales of 4.5 million annually, AutoMax plans to expand its retail sales by adding new locations throughout the southeast, branding AutoMax as the National Buy-Here/Pay-Here auto retailer. The AutoMax Business model focuses on acquiring, selling and financing vehicles through flexible in-house financing options with the consumer's budget in mind. We are aggressively positioning AutoMax towards a dominant "Buy-Here/Pay-Here" auto retailer/wholesaler through direct sales and financing of used vehicles to the general public.
"Kern Automotive Group Inc." is a wholly owned subsidiary of "AutoMax Group Inc.," a Georgia corporation, which incubates "Buy-Here/Pay-Here" used car dealer business models. The model was formed for the purpose of facilitating acquisitions by prospective affiliated and independent dealership operators in the Georgia region with the intention of nationwide expansion, potentially also to include franchisees. All references made by "AutoMax Group Inc. and/or its wholly owned subsidiary, Kern Automotive Group Inc." in reference to used car dealer operations, in press releases, on either company's website, or in any material in the public domain, either current, in the future, (until further notice) or predating this release, are to be considered in reference to transactions entered into by "Kern Automotive Group Inc." The owner of both companies has extensive experience in the automotive sales industry regarding both new and used car sales, financing and management of each. Mr. Jacob Kern has an incredible record in sales within the industry and will utilize his experience in the furtherance of this business model.
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