JACKSONVILLE, Fla. -- Dynasty Limousine Inc. (PINKSHEETS: DNYS), a full service luxury transportation and limousine firm covering northeast Florida and southeast Georgia, recently released financial statements and results from operations in the third quarter.
Revenues during the period were $147,020 which represents an increase over the same period one year ago. Year to date the company has generated $532,741 and is pacing its best year since inception. Net profit year to date is $117,675.
Several new vehicles have been added to Dynasty's fleet and two additional units will be delivered in the fourth quarter. Vice President and CEO Pierce Fleming told LCT that the new vehicles include a 2011 Lincoln Navigator L, a 2011 Dabryan 120-inch stretch limousine, a 2011 Escalade 200-inch pink stretch limousine, and a 2011 black 200-inch stretch Escalade limousine. Dynasty has pre-ordered a 2013 Lincoln MKT stretch limousine through DaBryan as well.
The company has seen a general increase in business overall and the outlook for the next quarter and beyond is positive. Dynasty also hired a dispatcher and an accounts payable employee during the period, and the company is preparing for a busy holiday season.
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Forward split proposed
In order to achieve a more consistent price range, Dynasty Limousine is executing a forward split on its common stock. The total outstanding shares and float is very low, and this has caused the share price on DNYS to vary between .10 and $2 in just the past month. The management feels that a forward split will benefit its current shareholders and create a more stable market for shares in the company. The actual details and ratio of the forward split is to be announced in the coming weeks.
About Dynasty Limousine Inc.
Dynasty Limousine is a full service Limousine and Transportation firm with offices in Jacksonville and Orange Park, Florida. It was founded in 1998 and operates a fleet of 15 limousines, luxury sedans, and limo buses. The company is a member of the National Limousine Association, and has a nationwide affiliate network to handle all domestic service requests. Dynasty has 17 employees, and is actively seeking acquisitions and expansion into additional markets.
Dynasty maintains an A+ accredited BBB rating. Additional company information may be accessed via Dun and Bradstreet, OTCmarkets.com, or by visiting the Investor Relations area located on our corporate websites. At the time of this release, the total number of shares issued and outstanding is 4,836,425 with a current float of 531,500 shares.
Source: PR Newswire; Martin Romjue, LCT editor