SOURCE: Pine Ridge Holdings, Inc.

December 30, 2008 10:30 ET

Pine Ridge Reports Over $1.2 Million in 2008 Revenues

FORT WAYNE, IN--(Marketwire - December 30, 2008) - (PINKSHEETS: PINR) Kevin May, Pine Ridge Holdings CEO, is pleased to announce the consolidated, total revenues for the Pine Ridge Holdings companies totaled $1,214,122 (unaudited) through November 30, 2008. This number represents a 7% increase over the same period in 2007.

This total includes the revenues for Pine Ridge Racquet Club ($834,008), Pine Ridge Fitness Club ($250,228) and AcousTech, Inc. ($129,887).

ServeNation revenues were not included in the figure since the company began operations in May 2008.

Pine Ridge Fitness had a 12% increase in total revenues compared to 2007, while AcousTech, after a difficult 2007, experienced a 34.5% jump in revenues. At the same time, year over year expenses actually decreased modestly by 1%.

May stated, "I am pleased with these revenue numbers in light of the difficult economic climate we have been operating within this year. 2008 will go down as a truly significant year for us because we've shown investors the vast potential of our holdings while growing each of our businesses one strong step at a time. I anticipate solid, continued revenue growth in 2009. As we begin the new year, I look forward to sharing more with our investors precisely why our future looks even brighter. Our companies are real, our revenues are real, and our potential, especially that of ServeNation, is somewhat staggering."

ServeNation has seen explosive growth since it began operations on May 15, 2008 with revenues topping $100,000 in December alone.

Shareholders are encouraged to visit http://www.pineridgeholdings.com for informational updates.

This press release contains certain "forward-looking" statements, as defined in the United States Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Statements, which are not historical facts, are forward-looking statements. The Company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessary estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no factors that could cause actual results to differ materially from those estimated by the Company. They include, but are not limited to, the Company's ability to develop operations, the Company's ability to consummate and complete the acquisition, the Company's access to future capital, the successful integration of acquired companies, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition, sales and other factors that may be identified from time to time in the Company's public announcements.

Contact Information

  • CONTACT:
    Kevin May
    260-637-9090