RACINE, Wis., May 5, 2005 (PRIMEZONE) -- Pacific Sands' (OTCBB:PFSD) steady progress to profitability is supported by three guiding principles which govern our day-to-day operations as well as ongoing planning. These principles are:
Article Two:
-- Improving shareholder value through disciplined growth
and fiscal responsibility.
-- Careful planning and execution of the established
business plan.
-- A renewed focus on sales and marketing to drive revenues.
Financing
Since the management transition of June 2004, Pacific Sands has successfully secured operating finances and developmental investment for the past nine months. Contrary to what might be expected, all financing has been accomplished in concert with a significant reduction in the number of outstanding shares.
Should additional funding be required for our growth initiatives, we have secured a number of options for financing them. The Board of Directors of Pacific Sands remains committed to pursuing a strategy of non-dilutive financing for growth.
Reporting
The Board of Directors believes that a publicly held company is only as good as its published financials. Both the financial data itself and the processes and controls that generate it must be of the highest level of integrity and accuracy.
We believe that our commitment to this principle is clearly evident in the quality and accuracy of the quarterly and annual reports issued throughout the last nine months under our tenure, and we are confident that this commitment will be further evident in the 10-Q quarterly earnings data and supporting press release scheduled for May 13th, 2005.
A look at Pacific Sands' financial data since the management transition shows clear improvement as a result of the above strategies and practices in the following areas:
-- Elimination of substantial accumulated debt;
-- Restructuring and optimization of our operational costs aimed specifically at making Pacific Sands a efficient scalable operation with controlled labor and manufacturing costs, as well an infrastructure that is adjustable to growth. The underlying operational costs of the company (administration, marketing, and facility) have also been improved, allowing for strategic investment in projects and programs that will yield sustainable growth;
-- Perhaps most importantly for the future, all of the above improvements in the financial position of Pacific Sands are documented and audited on an ongoing basis using financial controls and standards as required by the Sarbanes-Oxley act of 2003, and as administered by the SEC.
Outlook
In accordance with the above guiding principles and actions, and as a consequence of successful execution of our business plan, it is the intent of the Board Of Directors to position Pacific Sands for listing on a traditional stock exchange within the next 3 years.
The next update will cover Marketing and Sales.
The Pacific Sands Board of Directors Michael Wynhoff Michael Michie Mark Rauscher
Safe Harbor Act Disclaimer: http://www.pacificsandsinc.com/html/safe_harbor.html