GoFish Corporation Reports a 217% Increase in Quarterly Revenue for the Fourth Quarter of 2007
Company Benefits from Strong Sales Team and Market Leadership
SAN FRANCISCO--(BUSINESS WIRE)--GoFish Corporation (OTCBB: GOFH, www.gofishcorp.com),
a leading online youth entertainment and media network, reported its
results for the year ended December 31, 2007. Results included quarterly
revenue growth of 217%, in line with expectations.
GoFish gained traction during the quarter and year ended December 31,
2007. Specific achievements were the launch of its online youth
entertainment network and the establishment of partnerships with premier
publishers and blue-chip advertisers. Financial highlights are as
follows:
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Net sales increased substantially and were $2,081,182 for the year
ended December 31, 2007, as compared with $25,779 for the previous
year. Net sales were $1,539,610 for the quarter ended December 31,
2007 as compared to $6,922 for the quarter ended December 31, 2006 and
$485,812 for the quarter ended September 30, 2007, an increase of 217%
from the third quarter of 2007 to the fourth quarter of 2007.
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Revenues from the fourth quarter were derived from advertising sales
on publishers that today represent approximately one-third of the
audience on the network. The GoFish Network has grown to 19.4 million
unique U.S. users per month with the addition of several publishers.
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The company reported an annual loss of $16,377,858 for the year ended
December 31, 2007, as compared with $5,311,896 for the previous year.
This increase is as a result, in part, of an increase in headcount and
one-time acquisition costs of $1,270,348.
Management Comment, Tabreez Verjee,
President of GoFish
“During the past few months, we assembled a
team of industry veterans who have been able to achieve remarkable
results in a short amount of time. We recognize the fundamental changes
taking place with respect to online advertising as a result of changes
in consumer behavior on the Internet and have seized the opportunity to
capitalize on those changes. We believe that through our expertise and
relationships with publishers and advertisers, we are well positioned to
take advantage of these latest trends.”
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Source: comScore Media Metrix Digital Calculator, February 2008
About GoFish Corporation
GoFish Corporation (www.gofishcorp.com)
(OTCBB: GOFH - News), headquartered in San Francisco with offices in Los
Angeles and New York, is a leading youth entertainment and media company
specializing in creating, aggregating, distributing and monetizing
premium youth content on its owned and operated sites and on a large
network of quality youth-focused sites for which GoFish provides
exclusive ad sales services. The GoFish Network of sites reaches over 19
million unduplicated online users domestically, and over 60 million
unduplicated online users worldwide. GoFish has been a pioneer in the
sale of online content appealing to the hard-to-reach youth market and
presently ranks as the 3rd largest kids/teens opportunity for blue-chip
advertisers.*
* Source: comScore Media Metrix Digital Calculator, February 2008.
Unduplicated potential reach of the GoFish Network with currently signed
partners including WeeWorld.com, Miniclip.com, select channels under the
Demand Media Property, and others. The Kids/Teen category has been
custom-defined by GoFish Corporation and is not a standard comScore
Media Metrix category.
Safe Harbor Statement
This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements in this release are generally identified by
words, such as “projects,”
“believes,” “anticipates,”
“plans,” “expects,”
“will,” and “would,”
and similar expressions that are intended to identify forward-looking
statements. Forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the actual results,
performance or achievements of the Company to be materially different
from any future results, performance or achievements expressed or
implied by forward-looking statements. Investors are cautioned that
forward-looking statements are not guarantees of future performance and
that undue reliance should not be placed on such statements. Actual
events may differ materially from those mentioned in these
forward-looking statements because of a number of risks and
uncertainties. Discussion of factors affecting GoFish’s
business and prospects is contained in GoFish’s
periodic filings with the Securities and Exchange Commission. The
Company undertakes no obligation to publicly update or revise any
forward-looking statements or to make any other forward-looking
statements, whether as a result of new information, future events or
otherwise unless required to do so by the securities laws. Investors are
referred to the full discussion of risks and uncertainties associated
with forward-looking statements and the discussion of risk factors
contained in the Company’s filings with the
Securities and Exchange Commission. These filings are available on a
website maintained by the Securities and Exchange Commission at www.sec.gov.