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By Alan Fein - Senior Staff Reporter

Bad Credit Credit Creditres Investors pushed Urecoats Industries, Inc. shares up 9.09% in heavy trading Friday in anticipation of the coatings manufacturer's first quarter results which were released after the close.

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Bad Card Credit Credit May 24, 2004 (AXcess News) Deerfield Beach FL - Investors pushed Urecoats Industries, Inc. (AMEX: URT) shares up 9.09% in heavy trading Friday in anticipation of the coatings manufacturer's first quarter results which were released after the close.

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Bad Car Credit Loan Urecoats reported a net loss of $1.69 million, or $0.059 per share, for the quarter ended March 31, 2004 as compared to a net loss of $2.1 million or $0.161 per share, for the same period in 2003. Revenue for the quarter ended March 31, 2004 was $0.65 million, as compared to $1.0 million for the comparative period in 2003.

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Bad Credit Loan Mortgage Michael T. Adams, President, credited his company's improvements to better control over costs.Those controls may be partially credited to Urecoats new Chief Financial Officer, Dennis A. Dolnick, whose appointment by the board was announced March 16, 2004.

Auto Bad Credit Loan Prior to joining Urecoats, Mr. Dolnick was the Chief Financial Officer of Rx Medical Services (OTC: RXMS) Corp., a publicly traded holding company, which operated various lines of business in the healthcare industry.

Bad Credit Mortgage Refinance Adams said, "Mr. Dolnick possesses the type of business leadership, knowledge and experience which our organization requires at this point in time."Advertisement

Bad Credit Refinance While the company managed to curb costs, its working capital position was supported by contributions from its Chairman, Richard J. Kurtz.

Bad Credit Mortgage Second During the three months ended March 31, 2004, the Company's working capital deficit increased by approximately $1,633,222 to $5,594,594. This increase in the working capital deficit was primarily due to a $1,370,000 increase in the level of funding from the Chairman, a $584,667 increase in accounts payable and accrued expenses and a $326,316 increase in prepaid expenses and other current assets.

Bad Credit Loan Student "The key events for the first quarter of 2004 focused on introducing our new RSM Thousand Series products to the marketplace, commencing manufacturing operations for our RSM Series products, hiring our new chief financial officer, and initiating business segment reporting designed to aid our shareholders in understanding how management will be measuring its results," said Adams.While Adams lauded Urecoats new series of products, no indication was made as to what investors could expect as a result.

Bad Card Credit Shares of Urecoats (AMEX: URT) closed Friday at $1.80, up $0.15 or 9.09%, on heavy volume of 103.300 shares, after reaching a 52-week high of $2.00 in early session trading. The 90-day average daily trading volume was reported to be 30,454 shares. The 52-week hi/lo range was reported to be $0.30 to $2.00.

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