Prime Time Group (PRTH)

[furthur72]

Late news today:


FT. LAUDERDALE, FL, Dec 14, 2006 (MARKET WIRE via COMTEX) -- Prime Time Group Inc. (PINKSHEETS: PRTH) ("the Company") is pleased to announce that it has successfully completed the acquisition of a three-store fido arrangement in Western Canada.
fido is one of Canada's five largest wireless carriers with one of the industry's highest quality product lines. fido is owned by Rogers Wireless and has both its own network and an expanded one through its Rogers partnership.
"This is an excellent acquisition for us as it represents one of Canada's first multi-carrier corporate arrangements," says Dallas Robinson, CEO. "We have the opportunity to service two completely different markets with handsets and services that are some of the top wireless offerings in the country."
"This acquisition brings us a main flagship retail store and two mall kiosks, as well as assets and infrastructure to open a larger mall location," says Troy Metz, President. "In September of this year, fido Launched Canada's first Dollar-a-Day unlimited incoming calls on prepaid services. This type of service clearly complements our other wireless subsidiaries on a prepaid market." He adds, "What this brings us now is the capacity to service a higher end market and markets that want to have the security of longer term plans, data plans and additional prepaid offerings."
Says Dallas Robinson, "It is part of our business plan that we are committed to and these three locations will allow us to expand and acquire further operations of fido stores throughout Canada. We have great relationships with our carrier partners, and we are going to continue our profitable partnership for the long term."
This operation began in 2005 under the name of Xpress Your Cell/ fido Xpress and was one of the first market penetration stores in its region of Western Canada. "With Christmas fast approaching the addition of these three locations only adds to our bottom line potential in a lucrative wireless Christmas market," says Dallas Robinson.
The pro forma for the fido division of Prime Time Group Inc. is $7,500 per month net earnings per store. The number of expected fido stores is twenty-five over the next twelve months resulting in an additional one hundred employees working for Prime Time Group, Inc.'s fido division. There are currently one hundred employees working in the Robinson Wireless division of Prime Time Group, Inc. and one hundred forty employees working for the PR-7 Inc.'s division of Prime Time Group, Inc.
ABOUT PRIME TIME GROUP INC.
Robinson Wireless is a forward-thinking company that focuses on wireless products and services for today's youth market. By using retail, wholesale and internet delivery channels, the company has found unique ways to deliver the phones, accessories, mobile media and mobile games that are desired by a growing marketplace. In doing so it has established relationships with carriers such as Virgin Mobile, fido, Sprint, and their own line of products such as Cherry Red Accessories and a content and e-commerce division that is online and will be announced shortly.
Robinson Wireless/ Prime Time Group Inc. is currently investigating growth opportunities in Australia, Latin America, the Caribbean, Puerto Rico and the Dominican Republic as well as the developing markets in Asia.
PR7 Inc. operates 14 7-Eleven convenience stores in San Juan, Puerto Rico. Prime Time maintains its interest in PR7 Inc. Armando Del Valle was appointed President of the company in late June of 2006 and was chartered to maximize profitability and position the company for expansion. The profitability goals are about to be reached in December 2006 and the company has identified three locations for expansion in early 2007. By the end of 2007 the company hopes to conclude the first phase of expansion and intends to have in excess of 25 stores.
Prime Time Group Inc.
Visit: www.primetimestores.com
Robinson Wireless Holdings
Visit: www.robinsonwireless.com
Legal Notice Regarding Forward-Looking Statements
The statements in the press release that relate to the company's expectations with regard to the future impact on the company's results from acquisitions or actions in development are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. The statements in this document may also contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Since this information may contain statements that involve risk and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results.
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Contact Investor Relations: Troy Metz 1-561-584-1427 [e-mail]
SOURCE: Prime Time Group Inc.