STL Marketing Group (STLK) Completes Audit of Acquisition and Confirms
Revenues of Almost $6 Million, Gross Profits Over $1 Million and Net Income of
About $200,000 in 2008
Audit Results Confirm Substantial Revenues and Profits
CHICAGO, IL, Oct 01, 2009 (MARKETWIRE via COMTEX) -- STL Marketing Group
(PINKSHEETS: STLK) has completed the audit of its acquisition, St. Louis
Packaging, Inc. and STL Graphics Group. The voluntary audit was completed by
Veraja-Snelling and Company, headquartered in Illinois with over 20 years of
audit and fraud prevention experience. The purpose of the audit was to verify
the 2008 revenues and profits for St. Louis Packaging and STL Graphics Group
prior to the acquisition that was completed on Feb 1, 2009.
The audit results showed $5,952,051 in revenues, $1,074,280 in total gross
profit and $188,436 in Net Income for St. Louis Packaging and STL Graphics Group
in 2008 prior to the acquisition, which took place on Feb 1, 2009. IMAGE
Worldwide, Inc. had total revenues of $1,975,191 with a loss of $367,387 in 2008
prior to the acquisition.
During the last few months the company has been restructuring its divisions,
operating model, and future business plans along with a new mission, vision, and
budget for the company. Certain products, services, and expenses have been
eliminated and others adjusted to become more competitive and to create the best
synergy with the remaining divisions.
The new mission for STL Marketing Group is a commitment to brand movement
through four distinct vehicles: creative and design services, packaging and
supply solutions, printing and mailing, and event production and promotion.
These core business units allow for supply chain synergy and a one-stop shop
approach for clients to achieve their strategic communications objectives.
Vertical integration and cross promotion between company sectors allows STL
Marketing Group the ability to share key resources, maximize efficiencies, and
utilize economies of scale. These components improve buying power for the
corporation and increase value for clients and shareholders.
The new STL Marketing Group will utilize a blend of products, services, and
relationships to create an extraordinary customer experience and foster
unbounded company growth. The new and improved company will still produce the
lifestyle and fashion magazine, IMAGE Chicago, but is no longer involved with
Club Oasis or All Pro Networks.
CEO Steve St. Louis said, "We are very excited about completing this audit and
our internal restructuring. We consolidated many of our expenses and are looking
forward to executing our business plans. We are also actively seeking
acquisitions of businesses that are synergistic with our business plan to help
utilize the economies of scales and improve the bottom-line; we will explore all
ways that can help us build our Company and maximize its shareholders' value for
the future."
