Press Release
NOWAUTO ANNOUNCES RECORD REVENUE AND NET INCOME FOR SECOND QUARTER
SCOTTSDALE, Ariz. Global-E Investments, Inc., (OTC: GEIV) soon to become NowAuto Group, Inc., which recently acquired the assets of NowAuto, Inc (Pink Sheets: NWAU), today announced preliminary unaudited results for the three-month period ended June 30, 2005.
For the quarter ended June 30, 2005 the Company recorded consolidated revenue of approximately $6.3 million, an increase of 152% over the three-month period ended March 31, 2005. Earnings per share for the quarter ended June 30 were approximately $0.17, an increase of 183% over the previous quarter. The significant increase in results was principally attributed to the acquisition of Sunburst Car Co., Inc., the largest independent volume dealership location in Arizona, on March 31, 2005.
Under NWAU shares outstanding this would equate to $0.06 EPS for the quarter ended June 30, 2005.
NowAuto, Inc shareholders will receive 1 share for Global-E Investments (OTC: GEIV) for every 3 shares of NowAuto (OTC: NWAU) held. Upon the filing and clearance by the SEC of a registration statement on Form SB-2, NowAuto, Inc. will distribute to its shareholders all of the Global-E shares it received under the agreement.
While the Company believes that these financial results accurately reflect performance in the quarter ended June 30, 2005, these results have not been reviewed by the Company’s independent auditor and will not be until the current audit is complete and are therefore subject to adjustment.
Statements contained in this release, which are not historical facts, may be considered "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current expectations and the current economic environment.
We caution the reader that such forward-looking statements are not guarantees of future performance. Unknown risk, uncertainties, as well as other uncontrollable or unknown factors could cause actual results to materially differ from the results, performance or expectations expressed or implied by such forward-looking statements.
CONTACT: Finn Walstad, OTC Growth.com, (253) 564-9254, CEO@OTCgrowth.com
