Business Services Industry
S.I.N.C.L.A.R.E. Group Inc. declares stock dividend; S.I.N.C.L.A.R.E. transfers ownership of Internet News Network to Cyberlinx Corp.; S.I.N.C.L.A.R.E. transfers exclusive license to hot new Internet computer game to Cyberlinx Corp
Business Wire, June 6, 1996
Effective May 31, 1996, Sinclare's exclusive license to market the computer version of Master of Wars...The Ultimate Contest(R) and the Master of Wars Federation(TM) will be transferred to Cyberlinx. To date, the performance of the license and the development of the Internet access site have exceeded expectations.
By allocating the business objectives and marketing program to Cyberlinx, Sinclare and their shareholders will be able to maximize their return on investment and broaden the Master of Wars product base. With a better-than-anticipated initial response to the game at $4.95 for a conditional copy, this product will add significantly to the revenue and earnings of Cyberlinx this year.
Website traffic management routines are now implemented and approximately 7,400 games are being downloaded daily. Cyberlinx plans a marketing campaign and will soon announce an annual cash prize tournament for the game to further stimulate sales. To review the Master of Wars website, the address is http://www.accent.net/fol/index.htm/
With Cyberlinx operating as a separate entity, it will be able to expand its development plans and offer the Sinclare shareholders a further opportunity to participate in the dynamic Internet market. Sinclare will be focusing exclusively on business services, electronic publishing and a world wide web financial quoting system with its proprietary FlexQuote protocol. By Sinclare redirecting its other activities through a separate entity, it will be able to independently increase funding requirements without diluting shareholders' equity.
Recently, Sinclare reported that revenue for the second quarter of 1996 increased 105 percent to $1,266,141 from $617,603 for the first quarter of 1996.
Net income was up 113 percent to $891,384, or 7 cents per share, as compared to $417,471, or 3 cents per share for the first quarter of 1996. The management of Sinclare expects revenue and profits to improve throughout the third and fourth quarters of 1996 and well into the new year.
The Sinclare Group Inc., through its operating units and divisions, is a vertically integrated content and value added provider that supplies technology and expertise for the management of data transmitted on the Internet, and offers a variety of Internet access functions, structures on-line data entry and retrieval services, processes and manages voice and data transmissions using multimedia gateways.
CONTACT: Kurt Jones, 800/427-8625 or 509/486-4545
Fax, 509/486-2338
e-mail, tni(at)sncg.com
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