CHICAGO, May 6 /PRNewswire-FirstCall/ -- Invicta Group
Inc., (http://www.ivitgroup.com) (Pink Sheets: IVIT) is pleased to
announce the results of Operations for the Three Months Ended
March 31, 2010 Compared to the Three
Months Ended March 31, 2009.
Revenues for the three months ended March
31, 2010 ("First Quarter 2010") were $4,917,122 compared with $152,072 for the three months ended March 31, 2009 ("Fourth Quarter 2008").
That is an increase of $4,765,050 for the quarter.
Gross Profits for the three months ended March 31, 2010 ("First Quarter 2010") were
$663,567 compared with $4,244 for the three months ended March 31, 2009 ("First Quarter 2009"). That
is an increase of $659,323 for the
quarter.
Net Income for the three months ended March 31, 2010 ("First Quarter 2010") was
$300,915 compared with a loss of
($58,452) for the three months ended
March 31, 2009 ("First Quarter
2009"). That is an increase of $359,367 in Net Profit for the quarter.
The total assets of the Invicta Group as of 03/31/10 were $3,454,457.
CEO of the Invicta Group, Paul
Sorkin, said, "I was elected CEO of the Invicta Group in
late June of 2008 and since that time we have completely turned
this company around. We have been able to execute many of our
business plans and I am very proud of our team. We finished
Q1 2010 with almost $5,000,000 in
revenues and substantial profits for the quarter. We are
positioning ourselves for long-term growth and sustainability and
we are continuing to evaluate a number of opportunities. The
most popular current questions from shareholders are related to the
convertible note structure, why the stock price and our market cap
are so low, and what our future outlook is? To answer those
questions for everyone, the convertible notes can be paid back in
cash or stock. As for the stock price, some people like to
use formulas based on current or future earnings or revenues so I
can only suggest everyone does their own math and come up with
their own opinions of what is a reasonable market cap. As for
the future outlook, my vision has always been to create a solid
foundation, with a quality team, where we could utilize shared
resources to grow. We have accomplished that so far and it
has helped us succeed so we will continue to create as many
efficiencies as we can to help us improve. I believe in the
experienced and quality team we have put together and I feel we are
positioned very well to maximize all future relationships and
opportunities to help this company report solid numbers for years
to come."
About Invicta Group, Inc.
INVICTA GROUP, Inc. (IVIT.PK) is a full service multimedia
management and marketing company. The Invicta Group is a
conglomerate that utilizes shared resources to create synergies
between their projects and companies and creates a lower cost of
entry into the marketplace and almost instant start up capabilities
for new products, services, and clients.
www.IVITgroup.com
This news release contains forward-looking statements as defined
by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements concerning plan,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements that are other than
statements of historical facts. These statements are subject to
uncertainties and risks including, but not limited to, product and
service demand and acceptance, changes in technology, economic
conditions, the impact of competition and pricing, government
regulation, and other risks described in statements filed from time
to time with the Securities and Exchange Commission. All such
forward-looking statements whether written or oral, and whether
made by or on behalf of the Company, are expressly qualified by the
cautionary statements that may accompany the forward-looking
statements. In addition, the Company disclaims any obligation to
update any forward-looking statements to reflect events or
circumstances after the date hereof.
|
|
Investor Relations
and Media Contact
|
|
1-312-473-5234
|
|
info@IVITgroup.com
|
|
|
|
|
SOURCE Invicta Group, Inc.