Summus Works, Inc (Pink Sheets SMMW) announced its VVV initiative to establish a Summus center in Steamboat Springs, Colorado
Released on = April 17, 2006, 6:04 pm
Press Release Author = Summus Works, Inc.
Industry = Media
Press Release Summary = The first and each such asset will house a Company broadcast TV station and studio properties, an outdoor sports retail outfitter and product demo center, and leased units suitable for complementary entertainment or service oriented businesses.
Press Release Body = Summus properties will capitalize on existing real estate opportunities while enhancing the visibility and brand awareness of the Company and its subsidiaries. As of Nov. 9, 2005, the Steamboat market had realized $532 million in 1,400 transactions with seven weeks remaining in the calendar year. In 2003, Steamboat transactions totaled more than $300 million and grew by 32 percent in 2004 to $442 million. 160 miles from Denver, the popular destination has 10,748 beds, 3,502 rental units, over 250 specialty retail businesses, two ski areas, 70 restaurants, and is home to more Olympic athletes than any other U.S. town. The center will also serve as a local origination hub for the Company\'s developing network of licensed satellite affiliates (facilitated by recently announced technology that is also expected to increase revenues by more than $600,000.00).
The facility and Company assets in the Summus center at Steamboat are expected to generate more than $2 million in annual revenue and be accretive to earnings.
Summus Works, Inc. (Pink Sheets:SMMW) is a multi-media holding company with interests in outdoor sports, retail, e-tail, print, web, television and film. For more information on the company or its outdoor sports and media subsidiaries, visit www.summusworks.com.
This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
Web Site = http://www.summusworks.com
Contact Details = Contact Information: Summus Works, Inc. Dan Burgess, 802-253-0199 firstname.lastname@example.org www.summusworks.com