Revenues are getting better by the quarter…Profit has become a reality…Membership is continues to surge…The stock price has doubled since March 21st…What could make this picture any brighter?

NeWave, Inc. announces today that they have reduced their debt by an additional $550,000 from cash generated from operations!

 

NeWave CEO Michael Hill stated, "Over the past month, we've repaid $550,000 in debt from cash flow. One of our stated strategic objectives for 2006 was to decrease our debt by 50% and I am thrilled to announce that we've achieved that in just five months. That being said, we will continue our pursuit of significantly stronger financial performance through further debt reduction and earnings growth. We believe that these goals are attainable this year given the current robust state of our overall business and look forward to sustaining our momentum."

With this current announcement, NeWave has reduced its company debt by over $1 million dollars so far in 2006.