Precom Technology, Inc. d.b.a. CONCILIUM GROUP (OTC BB: PMMT)

Editors Note:

Last Friday, Stockupticks brought you a new profile on Concilium Group (CGI)(otcbb: PMMT) and its stable of financial services (Click Here to Read the Profile). In that profile we included several excerpts from recent news releases that revealed a company in a defined growth stage. If you missed our mailing on PMMT last week, take the time to read our profile.

The company released news today (see below) and as always, Stockupticks brings you company news as quickly as possible to increase your reaction time.

The earnings news today on CGI is positive and we highly recommend our readers take a look.
 

* BREAKING NEWS FROM CONCILIUM GROUP (OTC BB: PMMT) *

Boca Raton, FL.  July 23, 2002...Precom Technology, Inc. (OTCBB: PMMT), today released its un-audited operating results for the second quarter, ending June 30, 2002.  Drew Roberts, CFO of Precom stated:  "This financial report represents the first financial statement for Precom since its acquisition of Saddleback Finance, Inc. on June 1, 2002, and the acquisition of a controlling interest in Precom itself in April, 2002 by CGI International.  We are pleased that we are able to report both positive earnings and net assets after such a short operating period. 

Due to the recent acquisitions, we have requested our auditors to audit these figures, and we expect to issue audited financial results shortly.  We do not expect to report any significant differences in the audited reports."

Precom reported net income before tax of $4,524 on total revenues of $38,144 for the Second Quarter.  This compares with a loss of $9,444 in the comparable period for 2001, at which time Precom was inactive.  The financial statements also indicate total assets of $4,649,540 and net equity of $4,550,429 at the end of the Second Quarter.

Mr. Roberts added: "These early results validate our strategy of locating and acquiring key players in the national equipment lease finance industry to consolidate the operational and back office part of the business, and expand sales and closing capacity of the acquired units.  This strategy will continue for the remainder of the year.  In addition, we expect that the integration of Precom's equipment lease finance operation with the remainder of the financial services business of CGI will create positive synergies for the rest of the year."

 On a consolidated basis with CGI International, PMMT's parent company, results of operations for the quarter ending June 30, 2002 reflect net income before tax of $889,973 on revenues of $1,959,562, total assets of $7,151,062 and net equity of $5,159,090.

Precom Technology is an international financial services company engaged in equipment leasing, and related insurance and mortgage banking functions in the U.S. The company currently maintains several offices in the United States including Florida, California and New York. 

###Safe Harbor:

Certain information included in this communication contains statements that are forward looking, such as statements relating to further anticipated direction of the financial industry, plans for further expansion, various business development activities, planned capital expenditures, funding resources, anticipated sales growth and potential contracts. These forward-looking statements are subject to a number of known and unknown risks and uncertaintiesthat could cause actual operations or results to differ materially from those anticipated. 

*** ABOUT CONCILIUM GROUP (“CGI”)  ***

CGI is an international financial services company engaged in financial, tax and business planning, asset protection, insurance management, and merchant banking company with offices in the United States and Hong Kong. 

CGI is organized as a holding corporation with six distinct divisions currently, and several planned in 2002, which collectively provide the necessary elements to manage and execute each comprehensive, specifically tailored service plan developed and maintained to meet the financial needs of CGI’s clients. 

On April 6, 2002, CGI's shareholders approved the acquisition of a controlling interest in Precom Technology, Inc. (PMMT) in a stock exchange transaction. In June of 2002, Precom acquired the assets and business of Saddleback Finance and Leasing Services and formed a new subsidiary, Saddleback Finance, Inc., to operate the leasing business. The equipment leasing business and the financial planning and other related services are now operated as separate, but complementary businesses. Precom now is doing business as Concilium Group (CGI) and operates the leasing business under the trade name Concilium Finance and Leasing Services.

CGI is a general partner in a Chicago-based PIPE fund and a Manhattan-based private equity fund in which CGI subscribed for an interest of $10 million. 

CGI acts as a “financial concierge” by maintaining and coordinating the actions of each subsidiary into a cohesive set of services. 

CGI’s goal is to be a single-source, full service financial resource firm for the high-net-worth individual who is not satisfied with the commonplace services provided by big firm advisors. 

Concilium, Latin for “a council,” is defined as “a meeting of the people to consider and decide matters especially affecting itself.”  The mission is to balance and integrate the many personal and financial priorities that a client may encounter, such as lifestyle, cash flow needs, retirement goals, investment style, business objectives, and net worth aspirations.  The goal is to conduct all business affairs in the best interest of each client through fairness, competence, confidentiality, integrity, diligence, and professionalism while achieving results not generally available in the marketplace. CGI pursues its mission by maintaining the highest quality of personnel, while providing unique and unprecedented service.

CGI differentiates itself from its competitors by catering to middle-market clients that have experienced the commonplace service offered by big firm advisors and have been dissatisfied by their lack of personalized attention. CGI can meet the needs of those clients because it is able to provide an array of financial services through its diverse subsidiaries and network of expertise. 

*** CONTACT ***

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