IRVINE, Calif., Nov. 7, 2003 (PRIMEZONE) -- eSynch Corporation (Pink Sheets:ESYN) announced that pro forma operating losses, exclusive of stock issuances, were reduced to $74,430 and $139,979 for the three months and nine months ended September 30, 2003 as compared with $ $974,321 and $2,073,202 for the same periods in the preceding year.
Significantly reducing eSynch's cash burn rate allows the Company to effectively pursue their previously announced acquisition strategy. On going discussion with several companies regarding merger and acquisitions continue and relevant news will be released soon.
"This significant decrease in our cash losses allows the company to continue its strategy to execute a number of transactions to transform the Company and increase shareholder value" says Tom Hemingway, Chairman and CEO, "We are pleased with the results of our efforts to reorganize our operations and reduce overall cash operating losses", Mr. Hemingway continued.
Safe Harbor Statement
Statements herein express management's beliefs and expectations regarding future performance and are forward-looking and involve risks and uncertainties, including, but not limited to, the ability to negotiate outstanding prior debts of acquired companies; properly identify acquisition partners; adequately perform due diligence; manage and integrate acquired businesses; react to quarterly fluctuations in results; raise working capital and secure other financing; respond to competition and rapidly changing technology; deal with market and stock price fluctuations; and other risks. These are and will be detailed, from time to time, in eSynch's Securities and Exchange Commission filings, including Forms 10-KSB, 10-QSB and 8-K. Actual results may differ materially from management's expectations.
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