Digital Shelf Space Corp. Announces Unaudited Financial Results for the Three Months Ending March 31, 2012 and Stock Option Grants
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 05/18/12 -- Digital Shelf Space Corp. (the "Company" or "DSS") (TSX VENTURE: DSS)(OTCQX: DTSRF) announced today its unaudited financial results for the three month period ended March 31, 2012.
Highlights
Financial Statements' Currency Presentation
In recognition of the functional currency, United States dollars ("USD"), in which the Company earns its income, effective this quarter all financial information will be presented in USD unless otherwise advised. As a result the Company's prior fiscal year interim and annual financial statements as filed may not be comparable to results filed in the current year.
Revenue
The total revenue for the quarter of $509,306 (2011 - $569,743) continued to be driven primarily by the Company's flagship product GSP RUSHFIT an 8-week home-based DVD workout program starring MMA World Welterweight Champion Georges St-Pierre.
Mr. Jeffrey Sharpe, President and CEO of DSS stated, "We are pleased with our results for the three months ended March 31, 2012. We are even more excited about our growth strategy for 2012 which includes looking to add new global branded media products in the sport instruction and fitness categories into our library, like our recently announced product with the PGA TOUR's TourAcademy®, as well as expanding our distribution channels both in North America and internationally and extending our marketing and advertising reach for the GSP RUSHFIT brand."
Expenses
During the three months ending March 31, 2012, operating expenses were $1,030,142 (2011 - $685,687).
Net Loss
Net loss for the quarter ended March 31, 2012 was $520,836 (2011 - $115,944).
Selected Financial Highlights
Option Grants
On April 2, 2012, the Company granted, subject to regulatory approval, a total of 1,235,000 of incentive stock options to directors, officers, management, employees and consultants of the Company that were approved by the shareholders on May 10, 2012 at the Company's annual general meeting. The stock options are exercisable to acquire one common share at CAD $0.15 and can be exercised until April 1, 2017.
About Digital Shelf Space Corp.
Digital Shelf Space is an independent creator, producer and distributor of home entertainment content targeted at the fitness and sports instruction market. Digital Shelf Space's overall content partnership strategy is to align itself with world-class, global brand partners. For more information please visit and to view our flagship project with Georges St-Pierre, please visit .
ON BEHALF OF THE BOARD
Jeffrey Sharpe, President & CEO
Forward-Looking Statements
This news release contains "forward-looking information" within the meaning of the Canadian securities laws. Forward-looking information is generally identifiable by use of the words "believes", "may", "plans", "will", "anticipates", "intends", "budgets", "could", "estimates", "expects", "forecasts", "projects" and similar expressions, and the negative of such expressions. Forward-looking information in this news release include statements about anticipated sales and increased volumes of sales of GSP RUSHFIT on Amazon; retail distribution in the Philippines and Australia; additional content production deals; future additional capital from investors to fund marketing, distribution and content production; the production, marketing, global distribution and anticipated release date of a direct-to-home DVD golf instructional series marketed under TOURAcademy® brand name; potential sales of a direct-to-home DVD golf instructional series; revenue growth in 2012; the development of new marketing strategies for GSP RUSHFIT; the launch of a new direct-to-home DVD series or product line featuring a celebrity, athlete, or global brand; plans for increased retail distribution; international expansion; the opening of new markets in 2012; projections for further growth continuing to meet and exceed earlier forecasts; new television and internet marketing campaigns for GSP RUSHFIT; expanded sales into overseas markets; expected growth of retail sales of GSP RUSHFIT; the Company's strategy, future operations, prospects and plans of management; the Company's expectations with respect to existing and future agreements with third parties; estimates of the length of time the Company's business will be funded by anticipated financial resources; and anticipated results and benefits of consumer use of celebrity fitness products.
In connection with the forward-looking information contained in this news release, the Company has made numerous assumptions, regarding, among other things, the timing and quantum of revenue generated through sales of the Company's products revenues will continue at current levels and increase; the sufficiency of budgeted expenditures in carrying out planned activities; the Company's ability to protect its intellectual property rights and not to infringe on the intellectual property rights of others; the availability and cost of labour and services; expected growth of sales as a result of the Northern partnership and consumer demand; and expected results from the use of celebrity fitness products. While the Company considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies.
Additionally, there are known and unknown risk factors which could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. Known risk factors include, among others: anticipated sales and/or volumes of sales for GSP RUSHFIT may not be realized on Amazon; retail distribution in the Philippines and Australia may not result in anticipated sales; the Company may never conclude an additional content production deal; the direct-to-home DVD golf instructional series marketed under TOURAcademy® may not be produced or released as anticipated, or at all; the direct-to-home DVD golf instructional series may not produce revenues at the anticipated levels, or at all; the Company may never launch a new direct-to-home DVD series or product line featuring a celebrity, athlete, or global brand; the Company may not be able to sustain or increase revenues achieved during the current reporting period; the Company's products may not achieve the brand recognition and increased distribution as currently anticipated; the Company may never expand its distribution channels domestically or internationally; anticipated international expansion may not occur in the anticipate timeframe; the Company may not adopt successful advertising strategies or marketing methods; the Company may not develop or sell complementary GSP RUSHFIT product lines and/or may not achieve sales of such products to existing customers in the quantum anticipated, or at all; the substantial investment of capital required to produce and market video and entertainment productions; the need to obtain additional financing and uncertainty as to the availability and terms of future financing; unpredictability of the commercial success of our programming;
difficulties in integrating technological changes and other trends affecting the entertainment industry; significant competition in the global economic market; the possibility the rate of growth of the market for fitness media will slow; reliance on the health and marketability of celebrity fitness talent in productions owned by the Company; the possibility of competition from other ecommerce and online marketing vendors; the continued strong growth in adoption of digital media; the possibility of new fitness titles from traditional large studios that target the male demographic; large media production companies may move ecommerce operations in-house rather than outsourcing; reliance on production studios continuing to outsource ecommerce operations; reliance on a number of key employees; limited operating history; the possibility of claims against the intellectual property rights of the Company; the possibility of infringements upon the intellectual property rights of the Company; the Company may not have sufficiently budgeted for expenditures necessary to carry out planned activities; future operating results are uncertain and likely to fluctuate; the Company may not have the ability to raise additional financing required to carry out its business objectives on commercially acceptable terms, or at all; and volatility of the market price of the Company's shares.
A more complete discussion of the risks and uncertainties facing the Company is disclosed in the Company's Filing Statement dated November 16, 2010 and continuous disclosure filings with Canadian securities regulatory authorities at . All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.
Contacts:
Digital Shelf Space Corp.
Jeff Sharpe
President & CEO
604.736-7977 ext.111
604.736-7944 (FAX)
jeff[at]digitalshelfspace.com
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Datum: 18.05.2012 - 12:30 Uhr
Sprache: Deutsch
News-ID 148075
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