Business
Frontera Investment, Inc. Announces May Revenues
Frontera Investment, Inc. Announces May Revenues.
About this update from Frontera Investment Inc
[{"type":"text","content":"July 15, 2009 – Frontera Investment, Inc., (OTC-FRNV) has announced an increase of 33 percent, or $764,500, in revenue for its nine stores in operation for May 2009, up from $574,400 for its six stores in operation for May 2008. Earnings before interest, taxes, depreciation, and amortization (EBITDA) for May 2009 increased 168 percent to $88,149, or $9,794 per store for the nine stores, up from $32,846, or $5,474 per store, for Frontera’s six stores the previous May. In addition, audits of Frontera’s historical financial statements for the 2006 and 2007 calendar years were recently completed, which resulted in an unqualified opinion for both of those years. Frontera Investment, Inc. has engaged the same firm to audit its financial statements for the 2008 calendar year. “After the reverse merger that was completed in March 2008, the Company has pursued the goal of becoming a full reporting Company with the Securities Exchange Commission,” Allan Youngberg, CFO of Frontera Investment, Inc., said. “Upon completion of the 2008 audit, we will be in a position to file the necessary documents to achieve that goal.” Frontera Investment Inc.’s primary target market, the Hispanic market, is currently estimated at 40 million customers. Over half of those consumers do not use any form of banking service. In addition, of all the households in the United States, approximately 35 percent either do not use a banking service or they use alternative financial services, positioning Frontera Investment, Inc. as a prime option for consumers in those markets. Frontera, which currently operates 10 stores in California, opened its tenth and latest full-service store, in Vista, California, on July 8. The company is currently in the process of raising capital to acquire and open two additional stores in Southern California during calendar year 2009. Forward-Looking Statements:Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company's actual results to differ materially from those projected in such forward-looking statements. These risks, assumptions and uncertainties include the ability to complete expansion within currently estimated time frames and budgets; the ability to compete ...