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SE Global Equities - Press Releases
Symbol: SEGB September-24-2001
 

Global-American Investments, Inc. Continues to Grow

SE Global Equities Corp. (OTCBB: SEGB) a provider of technology and financial resources for international investors, is pleased to report the continuing growth of its recently acquired broker-dealer, Global-American Investments, Inc. (GAI).

Following the May, 2001, news of SE Global's intent to acquire GAI, GAI's unaudited gross revenues for the period May 15, 2001, to Aug. 31, 2001, totalled $342,678 (U.S.). Over this period, GAI's revenues grew an average of 5 per cent per month. As a result of the completion of the acquisition, reported in Stockwatch in July, 2001, all GAI revenues beginning Aug. 1, 2001, will be reflected in SE Global's consolidated revenues beginning third quarter 2001. SE Global's consolidated gross revenues from its direct access trading business for the month of August totalled $102,327, as compared with $9,500 for the period March, 2001, to July, 2001.

"Acquiring Global-American has permitted us to reduce our clearing and transaction costs by as much as 70 per cent," said SE Global president Toby Chu. "We also anticipate additional clearing cost reductions assuming that the volume of trade execution continues to grow. Furthermore, although past performance is not necessarily indicative of future performance, we are pleased with the rapid revenue and account growth rate of Global-American Investments. In a relatively short period we have experienced tremendous interest from broker-dealers, marketing companies and individual retail clients in other countries who are exploring the possibilities of utilizing SE Global Trade for real-time trade execution and streaming market information for U.S. securities."

 

On Behalf of the Board of Directors of SE Global Equities Corp.

Toby Chu

President & Chief Executive Officer
International Head Office: 1.604.871.9909 extension 308
Asian Head Office: 852.2169.3019 extension 28

 

 

   

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