PCCR NEWS CHARLOTTE, N.C., Aug 22, 2005 /PRNewswire-FirstCall via COMTEX/ -- PACEL Corp. (OTC Bulletin Board: PCCR.OB) -- PACEL Corp. announces the filing of its form 10QSB for the second quarter ending June 30, 2005.
PACEL continues its strategy of penetrating the Human Resource Outsourcing marketplace in an aggressive manner. Management believes that continuing to aggressively pursue small to mid-sized businesses, providing Human Resource (HR) related services in the areas of payroll, benefits administration and risk and safety management, will provide significant and steady revenue to the company.
The company's major investment in new technology became operational, as planned, at the beginning of 2005. The implementation of this system permitted PACEL to reorganize and focus on our future marketplace.
Management continues to make significant improvements in the company's financial health. A major focus has been on reducing the need for outside equity funding. The need for equity funding significantly decreased during the first half of 2005. For the first 6 months of 2005, PACEL Corp. reduced its outside funding by approximately 68% from the same period in 2004. Due to this reduction in outside equity funding the financing costs incurred by the company were also significantly reduced. For the first 6 months of 2005, financing costs are approximately 27% of the same time period in 2004.
"Our focus has been to deliver our services at the highest possible quality while reducing our internal costs. Investments in improved systems and management practices are beginning to have a positive impact on our financial statements," stated Gary Musselman, President of PACEL Corp. "Our belief is these trends will continue and our need to rely on outside financing will diminish."
The statements contained in this press release that are not historical facts are forward-looking statements that involve a number of risks and uncertainties. Therefore, the actual results of future events described in such forward -looking statements could differ materially from these stated in such forward-looking statements. Among the factors that could cause actual results to differ materially are: (i) regulatory and tax developments; (ii) the effectiveness of the Company's sales and marketing efforts; (iii) changes in the competitive environment of the industry; (iv) changes in general economic conditions;(v) changes in the Company's direct costs and operating expenses; (vi) the estimated costs and effectiveness of capital projects and investments in technology and infrastructure. (vii) Management's ability to effectively implement its business strategy. These factors are described in further detail in filing with the Securities and Exchange Commission.
SOURCE PACEL Corp.
CONTACT: Gary Musselman, President of PACEL Corp., +1-704-643-0676
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.