Business
Frontera Investment, Inc. Announces October Revenues
Frontera Investment, Inc. Announces October Revenues.
About this update from Frontera Investment Inc
[{"type":"text","content":"November 25, 2009 – Frontera Investment, Inc., (OTC-FRNV) has announced an increase of 31%, or $886,200 in revenue for its ten stores in operation for October 2009, up from $673,800 for its seven stores in operation for October 2008. Revenues for the ten months ended October 31, 2009 increased 31% to $7,664,800 from $5,861,700. Earnings before interest, taxes, depreciation and amortization (EBITDA) from store operations for October 2009 increased 57 percent to $111,700, or $11,170 per store for the ten stores, up from $71,000, or $10,143 per store, for Frontera’s seven stores the previous October. Allan Youngberg, CFO of Frontera Investment, Inc., stated \"We reached an important milestone in October by posting our first operating profit, or $16,455, and first EBITDA profit (after deducting corporate overhead), or $35,625. Our next financial milestone is to post our first profit in which we forecast to occur the first quarter of next year.\" 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 currently operates 10 stores in California. The company is currently in the process of raising capital to acquire and open additional stores in California. The timing of which will depend on the when such capital is raised, if at all. 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 effectively in a rapidly evolving and price competitive marketplace; ability to raise capital to support its growth strategy; changes in business strategy; and the successful integration of newly acquired businesses. Please forward any inquiri...