LUFKIN, Texas, Nov. 14 /PRNewswire-FirstCall/ -- Treecon Resources, Inc. (OTC Pink Sheets: TCRS) (the "Company") is making available certain financial information regarding the Company's financial performance. The financial information covering the nine months ended June 30, 2005 that is contained in this release is unaudited and has not been reviewed by the Company's auditors. The Company expects to release audited results for the fiscal by the end of December 2005. For the nine months ended June 30, 2005 the Company had gross revenues of $38,813,000 as compared to revenues of $32,993,000 for the nine months ended June 30, 2004. Net income was $2,082,000 or $0.11 per share for the nine months ended June 30, 2005 as compared to net income of $528,000 or $0.03 per share for the nine months ended June 30, 2004. TREECON RESOURCES, INC. CONSOLIDATION 6-30-05 UNAUDITED ASSETS CASH $2,175,320 TRADE A/R 2,175,300 CURRENT PORTION OF SALES CONTRACTS 2,222,972 NOTES RECEIVABLE - CURRENT 5,169,367 RELATED PARTY RECEIVABLES 72,698 INVENTORIES 10,665,768 PREPAIDS & OTHER 233,635 DEFERRED TAXES CURRENT 971,941 TOTAL CURRENT ASSETS 23,687,001 LAND 669,566 BUILDING AND IMPROVEMENTS 5,494,905 MACHINERY, EQUIPMENT AND OTHER 2,113,465 8,277,936 ACCUMULATED DEPRECIATION (4,004,546) TOTAL PP&E 4,273,390 SALES CONTRACTS - NONCURRENT 332,168 INVESTMENT IN REAL ESTATE 5,101,659 OTHER ASSETS 1,030,259 RESTRICTED CASH 552,262 TOTAL OTHER ASSETS 7,016,348 TOTAL ASSETS $34,976,739 LIABILITIES & EQUITY NOTES PAYABLE --- NOTE PAYABLE TO RELATED PARTY ($20,325,198) ACCOUNTS PAYABLE (2,110,217) NOTES PAYABLE DUE IN A YEAR (2,536,823) ACCRUED EXPENSES (1,419,537) INCOME TAXES PAYABLE 12,850 CURRENT MATURITIES OF LT DEBT (112,794) TOTAL CURRENT LIABILITIES (26,491,719) LONG TERM DEBT, NET (4,051,895) Deferred Fed Inc Tax Noncurrent (971,943) RESERVE FOR CREDIT GUARANTEES (552,262) TOTAL LIABILITIES (32,067,819) COMMON STOCK (186,155) PAID IN CAPITAL (28,156,204) NOTES RECEIVABLE 404,133 DIVIDENDS PAID --- RETAINED EARNINGS 27,111,261 NET (INCOME) LOSS (2,081,955) TOTAL EQUITY (2,908,920) TOTAL LIABILITIES AND EQUITY ($34,976,739) TREECON RESOURCES, INC. 9 MONTHS ENDING 6/30/05 UNAUDITED GROSS REVENUES ($38,812,959) COST OF GOODS SOLD 31,885,349 GROSS PROFIT (6,927,610) TOTAL SG&A 4,697,097 OPERATING INCOME (2,230,513) INTEREST EXPENSE 871,223 INTEREST INCOME (363,875) OTHER INCOME (71,162) GAIN ON SALE OF ASSET (287,628) TOTAL OTHER 148,558 BEFORE TAXES AND DISCONTINUED OPS (2,081,955) FIT --- NET (INCOME) LOSS ($2,081,955) This release contains statements that are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, and intended to enjoy the protection of the safe harbor for forward-looking statements provided by that Act. These forward-looking statements are subject to risks, uncertainties and other factors, including, the cost of goods, competitive pressures, inflation, consumer spending patterns and debt levels, trade restrictions, changes in tariff and freight rates, weather conditions, changes in gasoline, diesel fuel and other energy costs, labor costs, health care costs and accident costs, interest rate fluctuations and other capital market conditions and other risks. We urge you to consider all of these risks, uncertainties and other factors carefully in evaluating the forward-looking statements contained in this release. As a result of these matters, including changes in facts, assumptions not being realized or other circumstances, our actual results may differ materially from historical results or from anticipated results implied in the forward-looking statements contained in this release. These forward-looking statements are made only as of the date of this report and we undertake no obligation to update the forward-looking statements to reflect subsequent events or circumstances. DATASOURCE: Treecon Resources, Inc. CONTACT: Mike Boatman of Treecon Resources, Inc., +1-936-634-3365

Copyright