Return Assured Reports 2nd Quarter Results

Apr 25, 2001, 01:00 ET from Return Assured Incorporated

    LOS ANGELES, April 25 /PRNewswire/ --
 Return Assured Incorporated, (Nasdaq:   RTRN), today announced results for the
 second quarter ended February 28, 2001.  Net loss for the Quarter ended
 February 28, 2001 was $1,132,074, a decrease from a net loss of $2,433,949 for
 the first quarter ended November 30, 2000.  The loss for the six months ended
 February 28 was 3,566,023.  Net loss per share for the Quarter ended
 February 28, 2001 was $0.15 compared to a loss of $0.41 in the first quarter
 ended November 30, 2000.  The per share loss for the six months ended
 February 28, 2001 was $0.52 per share.
     The second quarter results are consolidated to reflect the results of the
 reverse triangular merger completed on October 13, 2000 and the business of
 the former Hertz Technology Group (from October 13 to February 28, 2000).  The
 loss for the first quarter was $2,433,949, or $0.41 per share, reflecting the
 significant costs of the merger and related $5 million equity financing.  As
 of February 28 2001, the company had cash resources of approximately
 $3.7 million and working capital of approximately $4.2 million.
     The Company has embarked in a new direction pursuing development of the
 Return Assured "Return Seal of Approval".  Return Assured's operations have
 been financed to date through equity capital, and the $5 million financing
 which closed at the time of the merger.  The initial results of the Return
 Assured Seal of Approval program have not enjoyed wide market acceptance and
 Management has been pursuing variations of the concept in order to provide
 alternative potential sources of Revenue.  "We are building on solid
 infrastructure to power our Return Seal offering," said Matt Sebal, President
 and Chairman of Return Assured Incorporated.  "We have allocated our resources
 carefully to focus on enhancing our service package and marketing strategy.
 Also, in the last several months, we have started to review potential
 acquisitions to provide a stable revenue stream and to enhance the potential
 of the redefined Return Assured revenue model.  The Company has reduced staff
 and overhead in order to preserve capital."
 
     About Return Assured
     Return Assured Incorporated, has developed a proprietary B2C and B2B
 value-added "Return Seal of Approval" for the electronic retail community that
 vets retailers with high standards and then indemnifies the consumer with a
 "no-hassle" guarantee in support of that particular retailer's return and
 customer service policy.
     The Company is pursuing variations of the concept all in the area of
 providing customer assurance and enhancing customer satisfaction.
     For more information of Return Assured Incorporated and its exclusive
 Return Seal of Approval, please visit the company's web site at
 http://www.returnassured.com.
 
     This news release contains forward-looking statements.  Forward-looking
 statements include statements concerning plans, objectives, goals, strategies,
 future events or performance and underlying assumptions and other statements,
 which are other than statements of historical facts.  These statements are
 subject to uncertainties and risks including, but not limited to, product and
 service demand and acceptance, changes in technology, economic conditions, the
 impact of competition and pricing, and government regulation and approvals.
 All such forward-looking statements, whether written or oral, and whether made
 by, or on behalf of Return Assured Incorporated, are expressly qualified by
 these cautionary statements and any other cautionary statements which may
 accompany the forward-looking statements.  In addition, Return Assured
 Incorporated disclaims any obligation to update any forward-looking statements
 to reflect events or circumstances after the date hereof.  The information
 contained on any web site referenced in this press release is not a part of
 this press release.
 
                     MAKE YOUR OPINION COUNT -- Click Here
                http://tbutton.prnewswire.com/prn/11690X47889792
 
 

SOURCE Return Assured Incorporated
    LOS ANGELES, April 25 /PRNewswire/ --
 Return Assured Incorporated, (Nasdaq:   RTRN), today announced results for the
 second quarter ended February 28, 2001.  Net loss for the Quarter ended
 February 28, 2001 was $1,132,074, a decrease from a net loss of $2,433,949 for
 the first quarter ended November 30, 2000.  The loss for the six months ended
 February 28 was 3,566,023.  Net loss per share for the Quarter ended
 February 28, 2001 was $0.15 compared to a loss of $0.41 in the first quarter
 ended November 30, 2000.  The per share loss for the six months ended
 February 28, 2001 was $0.52 per share.
     The second quarter results are consolidated to reflect the results of the
 reverse triangular merger completed on October 13, 2000 and the business of
 the former Hertz Technology Group (from October 13 to February 28, 2000).  The
 loss for the first quarter was $2,433,949, or $0.41 per share, reflecting the
 significant costs of the merger and related $5 million equity financing.  As
 of February 28 2001, the company had cash resources of approximately
 $3.7 million and working capital of approximately $4.2 million.
     The Company has embarked in a new direction pursuing development of the
 Return Assured "Return Seal of Approval".  Return Assured's operations have
 been financed to date through equity capital, and the $5 million financing
 which closed at the time of the merger.  The initial results of the Return
 Assured Seal of Approval program have not enjoyed wide market acceptance and
 Management has been pursuing variations of the concept in order to provide
 alternative potential sources of Revenue.  "We are building on solid
 infrastructure to power our Return Seal offering," said Matt Sebal, President
 and Chairman of Return Assured Incorporated.  "We have allocated our resources
 carefully to focus on enhancing our service package and marketing strategy.
 Also, in the last several months, we have started to review potential
 acquisitions to provide a stable revenue stream and to enhance the potential
 of the redefined Return Assured revenue model.  The Company has reduced staff
 and overhead in order to preserve capital."
 
     About Return Assured
     Return Assured Incorporated, has developed a proprietary B2C and B2B
 value-added "Return Seal of Approval" for the electronic retail community that
 vets retailers with high standards and then indemnifies the consumer with a
 "no-hassle" guarantee in support of that particular retailer's return and
 customer service policy.
     The Company is pursuing variations of the concept all in the area of
 providing customer assurance and enhancing customer satisfaction.
     For more information of Return Assured Incorporated and its exclusive
 Return Seal of Approval, please visit the company's web site at
 http://www.returnassured.com.
 
     This news release contains forward-looking statements.  Forward-looking
 statements include statements concerning plans, objectives, goals, strategies,
 future events or performance and underlying assumptions and other statements,
 which are other than statements of historical facts.  These statements are
 subject to uncertainties and risks including, but not limited to, product and
 service demand and acceptance, changes in technology, economic conditions, the
 impact of competition and pricing, and government regulation and approvals.
 All such forward-looking statements, whether written or oral, and whether made
 by, or on behalf of Return Assured Incorporated, are expressly qualified by
 these cautionary statements and any other cautionary statements which may
 accompany the forward-looking statements.  In addition, Return Assured
 Incorporated disclaims any obligation to update any forward-looking statements
 to reflect events or circumstances after the date hereof.  The information
 contained on any web site referenced in this press release is not a part of
 this press release.
 
                     MAKE YOUR OPINION COUNT -- Click Here
                http://tbutton.prnewswire.com/prn/11690X47889792
 
 SOURCE  Return Assured Incorporated