Alternate Marketing Networks Offers to Purchase ALTM Common Shares for $.20 Per Share
November 01 2005 - 4:05PM
PR Newswire (US)
Record Date: November 1, 2005 HUDSONVILLE, Mich., Nov. 1
/PRNewswire-FirstCall/ -- Alternate Marketing Networks, Inc. (Pink
Sheets: ALTM) announced it is offering to purchase its common stock
for a purchase price of $.20 net per share. The record date was
today. The offer is voluntary. The offer will provide shareholders
the opportunity to sell shares at a premium without incurring any
brokerage commission from ALTM, stated Phillip Miller, chairman and
CEO. He added that this would provide liquidity for those who
desire in the absence of an active market for the company's stock.
The Company cannot predict whether its stock will continue to be
quoted in the "Pink Sheets" in the future or whether the Company
will make any offer to repurchase its shares after the conclusion
of this offer. The Company can make this offer because of the
positive results from its sole subsidiary in the newspaper
advertising industry. For the nine months ended September 30, 2005,
the Company reported revenues of $21,080,676 and net profit of
$531,601. The net profit includes a federal tax refund of $74,788
for the carry back of a capital loss realized in 2003. The actual
refund resulting from the carry back was significantly less than
previously estimated due to a previous net operating loss carry
back. The offer will be mailed next week and expires at 5:00 p.m.
EST on December 16, 2005. The Company's sole operating subsidiary,
National Home Delivery, Inc., through its three divisions U.S.
Suburban Press (USSPI), Custom Media Solutions (CMS) and Specialty
Media Solutions (SMS), provides newspaper solutions to national
advertisers in the United States. DATASOURCE: Alternate Marketing
Networks, Inc. CONTACT: Phillip Miller, chairman and CEO of
Alternate Marketing Networks, Inc., +1-616-662-6420 Web site:
http://www.altmarknet.com/
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