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NEWS RELEASE PERFECT FRY CORPORATION PNM, Canadian Venture Exchange For immediate release
Third Quarter Results continue to show upward progress in the development of sales and earnings. This has, again, been our highest revenue generating 9 months in the company history.
Investing time in the development of relationships with large franchise companies is a very expensive process. In the past 9 months, this investment has continued with much time spent working through the testing period. Perfect Fry continues to make advances as this testing continues. The number of franchise companies that we are testing with has increased by about 5 times the number a year ago. This shows a significant increase and gives some indication that franchise companies are starting to really take a look at a fryer that is still very unique to the foodservice equipment market place. Past concerns with regulations and comfort with the high technology are now starting to be accepted. Our distributors are our strong supporters and continue to invest their time and energy into the education of what our fryer can do. Once the customer has a chance to experience the fryer this leads to a comfortable sales decision. After many years of work, our distributor in Western Canada continues to sell 1 fryer for every 100,000 of population. If we can extrapolate this to the USA, Perfect Fry would increase our gross sales many times. We have a long ways to go. Time, education, and effort are the requirements. The technology continues to evolve. With a couple of changes, we have been able to increase the reliability of the fryer to a point where failures of our computerized electronics are now down to 3 per 1000 units. This is a fantastic result as we continue to ship equipment on an international basis. Gord Sigurdson has been appointed to our Board of Directors. Gord has been our distributor for Western Canada for the past 8 years and we look forward to benefiting from his wealth of knowledge. Perfect Fry has increased our inventory substantially to receive the benefits of larger purchasing. We have also continued to spend time in research and development for the future.
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