RACINE, Wis., Sept. 30, 2005 (PRIMEZONE) -- The board of Directors of Pacific Sands, Inc. (OTCBB:PFSD) is pleased to announce the results of operation under the first year of new management with the filing of the company's 10K-SB annual report.
For the complete report, visit: www.pacificsandsinc.com
Highlights From Management Discussion (condensed):
The Company's net sales for the year were up more than 350% and fourth quarter sales more than 575%.
The majority of the Company's revenues for FY 2005 were achieved in the fourth quarter. This surge in revenue is attributable to marketing and sales investments made in the first three quarters of the year. It is the opinion of management that fourth quarter sales represent a baseline from which future sales can be measured.
The Company's gap between earning and expenses is diminishing rapidly. Based on continuing positive sales developments and patterns established, management anticipates that earnings will exceed expenses at some point in FY 2006 and the Company will be profitable for the first time in its history, barring unforeseen circumstances and/or opportunities requiring additional investment.
At the time of filing the annual report for FY 2004, the Company had 30,298,973 (net of treasury shares) issued and outstanding. As of August 31, 2005, the Company had 29,410,111 (net of treasury shares) issued and outstanding.
The resulting decrease in total shares outstanding by the Company was due to the below market purchase of common stock from previous management and insiders by the Company. Under guidelines established by the Board of Directors the Company sold shares of restricted stock to qualified investors in order to fund operations and the execution of management's business plan.
The average cost to the Company of shares returned was $.025 whereas the average sale price of shares sold for cash was $.0717. The Company raised a total of $190,139 during the course of FY 2005 with a net decrease in the actual number of shares outstanding, net of treasury and option shares.
For the complete report visit: www.pacificsandsinc.com
About Pacific Sands
Pacific Sands, Inc. develops, manufactures and markets environmentally safe, nontoxic cleaning, and water treatment solutions for industrial and consumer products.
To hear more about PFSD from CEO Michael Wynhoff go to: http://www.publiccoreport.net/featured/PFSD/company.asp
Safe Harbor Act Disclaimer
The statements contained in this release and statements that the company may make orally in connection with this release that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected in the forward-looking statements, since these forward-looking statements involve risks and uncertainties that could significantly and adversely impact the company's business. Therefore, actual outcomes and results may differ materially from those made in forward-looking statements.