TerenceNet,
Inc. Becomes SEC Effective August, 6 2002 and
Announces Second Quarter 2002 Financial Results
Ft.
Pierce, FL/August 6, 2002 -- On August 6, 2002,
TerenceNet, Inc. became a fully-reporting, fully
effective SEC company. This status of being effective
will allow TerenceNet, Inc. to be eligible for
quotation on the OTC BB venue.
Additionally,
TerenceNet, Inc. also filed its first quarterly
report with the SEC on August 9, 2002 and annouced
financial results for the 3 months and 6 months
ended June 30, 2002. For the first 3 months, revenues
increased to $47,712 from $23,810, a 100.4% increase.
Furthermore, for the first 6 months of FY 2002,
revenues were $93,558 versus revenues of $57,064
reported in the first 6 months of FY 2001, a 64.0%
increase.
Net
loss for the second quarter 2002 was $6,996 versus
a net loss of $11,009 during the second quarter
2001. Net loss for the first 6 months of 2002
and and 2001 was $39,998 and $20,034, respectively.
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