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Show . f The National Enterprise , August 18, 1976 Page ten Opening Cuts Colletts Earnings SALT , LAKE CITY Colletts, Inc. (OTC .25, .35) Friday reported a sales in- crease of 10 percent for the first six months of 1976 compared to the same period in 1975. Company president R. Ferris Collett said however a net loss was sustained for the period, mainly due to the opening of a large new store at 7200 South State Street in Salt Lake. loss of $30,877 or $.02 per of share on revenues In similar the $1,634,690. The furniture and appliance retailer reported sales of $3,625,166 in the first six months of the year compared with $3,286,660 in the 1975 period. A net loss of $26,377, or S.02 per share was recorded for the period compared with net income last year of $34,109, or $.02 per share. For the three months ending June 30, 1976, the company also reported a net quarter last year Colletts reported net income of $3,738 or $.002 per share on sales of $1,616,997. Collett said with the new store opened and performing even better than anticipated, I expect improved results during the remainer of the year. Financing Secured by Flynn for $4 Million TULSA, Okla. Flynn Energy Corp. (OTC 4.75, 5.25) has announced the extension line of of a $4 million five-yecredit by the Bank of Oklaar homa. J.W.W. Whitney, Flynn Energy chairman chief executive officer, the major purpose of hand for sweaty palms A .'helping Juristics Securities Law Seminars help you avoid problems under securities regulations. They're education on tape to protect you and your clients. Complete, current, concise seminars covering the field of Securities Law, you learn at your leisure from experts. Listen and learn while you commute to the office, while you have lunch, in the evenings as you relax at home. Continued From Page Three that the federal government was not getting adequate compensation for use of its resources. Dietrich is saddened by the bill because, to him, it represents another substitution of government decision making for free market principles. If leases are withdrawn for failure to comply with development plans or production requirements, an artificial demand will be fueled by an insufficient supply. He stands by the premise that the principles of supply and demand would, without government regulation, bring coal mines into production and satisfy a real, and swelling demand. Whitney explained that no principal payments are due for three years, and interest is above the banks at 1 V2 prime rate computed on a floating basis and payable monthly. Principal payments will begin in September 1, 1979. The loan is secured by Flynn Energy oil and gas properties. Prolific Wildcat Flynn Energy last week also announced completion of a wildcat oil well in Manistee County, Michigan. Don M. Flynn, president of the company, said the a Niagaran Deising-Kot- t Reef discovery, tested 636 barrels of oil per day through a 2064th-inc- h choke. The well encountered 104 net feet of pay between 3,855 and 3,966 feet. Perforations were from 3,930 to 3,950 feet. Flowing tubing pressure was 970 psi, stabilized, with a gasoil ratio of 750 cubic feet per barrel, or a rate of about 500,000 cubic feet of gas per day. Flynn Energy and participants in its private drilling programs have a 25 working interest in this well. Additional development is anticipated in the near future. 1-- oo O O oo i O O 12 Cassette Seminars in handsome NOT INTERESTED? album with compendium investment of only $100.00. Any one of the could save you many times its modest cost. All for the small 1 2 That s Okay, but sessions better keep this ad handy in a few short months you may wish that you had been taking AGN. Join those in the know. Learn "5 about gold stocks., exploration. O mining, legislation, gold in economy. -- q JURISTICS Send for your Juristics Securities Law Seminars now. Juristics Inc. 233 Parker, Suite Q and read expert writers and O comments. O 2 101 P.O. Box 11126 San Francisco, California 94101 5 ALeadingGoldNewspaper Since 1933 2. FREE Please send me the Juristics 1 2 Cassette Seminar on Securities Law. My check for $1 00.00 is enclosed. "q Youi Choice ot Two Populor Books O Gold! The Ultimate Hedge or o Gold Panning for Profit" sent with ? -- Name O Subscription. Street Address. Issued Monthly .State. City Bankamericard Account Number Signature m million. Leasing Rules Threaten Delay Security Brokers, Dealers, Corporate Officials, Attorneys. Charge my Jr., and said the financing is to supplement working capital from operations. This loan will provide the additional capital required for a drilling and completion budget of about $7 million per year for the next three years. The new bank loan proceeds will also be used to retire a note at the current long-terbank in the amount of $1.8 .Zip. Master Charge Expiration Date. Money refunded $6Per Year if not delighted AMERICAN GOLD NEWS P.O. BOX 457, DEPT.NE lone. CA. 95640 Gold-Gol- d Gold-Gol- d Gold-Gold-Go- ld o |
