Tradeshow Marketing Company Announces Fiscal Third Quarter 2010 Results
BELLEVUE, WA, April 15 /PRNewswire-FirstCall/ - The Tradeshow Marketing Company Ltd. (Pink Sheets: TSHO), a direct sales company that represents and markets unique consumer products in direct response TV (DRTV) and trade show demonstration sales environments, today announced results for the fiscal 2010 third quarter, ended February 28, 2010.
Revenue for the third quarter was $5,626 and $19,159 for the nine months of fiscal 2010. Third quarter net loss was $173,549, or $0.01 per share, and $290,123, or $0.01 per share, for the nine month period. Business activities in the third quarter were primarily focused on pre-revenue preparation related to product evaluations and the initial one-week test launch of the Ultimate Squeegee product. The increase in net loss compared to the third quarter of 2009 was primarily attributable to advertising expenses related to commercial production for the test campaign launch, as well as increased operating costs related to the company's transition from a development stage to an operating company.
Subsequent to the February 28 quarter end, the company completed a number of strategic initiatives to advance its business development. These included:
- Raised $1.2 million in additional capital through equity issued at $1.09 per share to fund long-term growth plans and additional product launches in calendar 2010 - Advanced the Ultimate Squeegee to a seven week infomercial test campaign on select national and local networks - Regained Pink Sheets "Current Information" status - Began infomercial development for the company's second product pending final agreement with the inventor
"Our third quarter results are reflective of our efforts to refocus Tradeshow Marketing on the DRTV market and the preliminary work required to ready our first product for the initial test campaign," stated Luniel de Beer, President and CEO of Tradeshow Marketing. "During the fiscal third quarter, we successfully engaged with the required component partners that enabled us to introduce our first product with Cesari Direct, while establishing the infrastructure for launching additional products in the future. From a corporate perspective, we repositioned the company and launched our new web site with phase 2 expected to be unveiled soon. Additionally, after the end of the third quarter, we secured the necessary funding to support our future growth plans as we work towards further expanding our business.
"More recently, we are underway with the second Ultimate Squeegee test campaign, and we intend to provide a more thorough assessment of the product success after the test campaign concludes and the results are analyzed. In conjunction with these efforts, we continue to make progress with our second product, which we hope to have finalized in the coming month. We believe TSHO will begin to show more meaningful revenue prospects as we approach the December 2010 year end, and the company progresses from a developing business to a dynamic provider of direct response and trade show services."
For more information about Tradeshow Marketing, please visit the Company's web site at www.tsho.com. Shareholders of Tradeshow Marketing who would like to be added to the Company's email distribution list can send their contact information to [email protected].
About The Tradeshow Marketing Company
The Tradeshow Marketing Company Ltd. is a publicly traded consumer-products company focused on the development and distribution of unique products that have broad appeal and improve the lives of consumers. The company operates a direct demonstration business via trade shows and exhibitions throughout North America, and various product-specific e-commerce web sites. The company was established in 2003, and is headquartered in Bellevue, Washington.
All company or product names used are the property of their respective owners and may be the trade marks(TM), service marks(SM), or registered marks(R) of other companies, and are used for information purposes only and to their owners' benefit, without intent to infringe.
Safe Harbor Statement
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected", "anticipates", "draft", "eventually", or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in the company's SEC filings.
SOURCE Tradeshow Marketing Company Ltd.
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