SANTA MONICA, Calif., April 16, 1999 (PRIMEZONE) -- GlobalNet Financial.com, Inc. (OTCBB: GLBN) announced financial results for the year ended December 31, 1998. Revenues for the year were $1.7 million while the Company reported a net loss of $3.0 million.
Michael Jacobs, Chief Operating Officer commented "1998 was a transition year for the Company which has shifted its focus to Internet based publishing of unique financial content. Our 1998 financial results predominantly reflect prior business activities.
GlobalNet Financial.com, Inc. is an international multimedia provider of online financial news and information services to the investment community. The Company's first international site, www.ukinvest.com, will be launched prior to the end of this month and will provide exclusive investor information and services to Freeserve, the largest Internet Service Provider in the U.K. with 1.4 million subscribers. The Company's U.S. based web site, www.microcap1000.com, was launched in October 1998 and is designed to be the premier source of information on the MicroCap Sector, companies with market capitalizations of under $500 million. The site provides comprehensive Internet-based electronic publishing of unique content including news, analysis and investment ideas. MicroCap1000.com currently has nearly 150,000 registered users.
"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: Except for historical information, the matters discussed in this news release that may be considered forward-looking statements could be subject to certain risks and uncertainties that could cause the actual results to differ materially from those projected. These include uncertainties in the market, competition, legal, success of marketing efforts and other risks detailed from time to time in the company's SEC reports. The company assumes no obligation to update the information in this release.
For additional information regarding GlobalNet Financial.com, Inc. and UK-iNvest.com, please contact Michael Jacobs at:
800-341-4921 or
Email: mjacobs@microcap1000.com
For additional information regarding MicroCap1000.com, please contact
Lisa Taylor at:
310-828-8838 (tel)
Email: ltaylor@microcap1000.com
For additional information regarding MicroCap1000.com in the financial
community, please contact:
Richard Carpenter or Jeff Lamberson
At American Financial Communications
2420 "K" Street, Suite 220
Sacramento, CA 95816
916-552-6532 (tel)
-0-
CONTACT: GlobalNet Financial.com, Inc. and UK-iNvest.com
Michael Jacobs
800-341-4921
mjacobs@microcap1000.com
or
MicroCap1000.com
Lisa Taylor
310-828-8838
ltaylor@microcap1000.com
or
American Financial Communications
Richard Carpenter or Jeff Lamberson
916-552-6532
regarding MicroCap1000.com in the financial community