Attached files
EXHIBIT 99
$$TDCH, 30DC ANNOUNCES THIRD QUARTER AND NINE MONTH FISCAL 2014 RESULTS
NINE MONTH PRODUCTS AND SERVICES REVENUES INCREASED 280% VS SAME PERIOD IN
FISCAL 2013 HIGHLIGHTING RECENT GROWTH OF THE MAGCAST DIGITAL PUBLISHING
PLATFORM
New York, NY, May 19, 2014, 30DC, Inc. (OTCQB: TDCH), a provider of web-based
tools for the monetization of digital content, today announced that during the
three and nine month periods ended March 31, 2014, the Company, recognized
revenues of $265,213 and $2,416,239 respectively from continuing operations
compared to $251,462 and $1,058,854 during the three and nine month periods
ended March 31, 2013. Revenues from continuing operations were from the
following sources during the three and nine months ended March 31, 2014 compared
to March 31, 2013.
Three Months Three Months
Ended Ended Increase or
March 31, 2014 March 31, 2013 (Decrease)
----------------- ------------------- ---------------
Revenue
Commissions $ 26,912 $ 31,242 $ (4,330)
Subscription Revenue - 1,369 (1,369)
Products and Services 238,701 213,351 25,350
Seminars and Mentoring - 5,500 (5,500)
----------------- ------------------- ---------------
Total Revenues $ 265,613 $ 251,462 $ 14,151
Nine Months Nine Months
Ended Ended Increase or
March 31, 2014 March 31, 2013 (Decrease)
----------------- ------------------- ---------------
Revenue
Commissions $ 58,642 $ 192,532 $ (133,890)
Subscription Revenue - 14,670 (14,670)
Products and Services 2,357,597 619,068 1,738,529
Seminars and Mentoring - 232,584 (232,584)
----------------- ------------------- ---------------
Total Revenues $ 2,416,239 $ 1,058,854 $ 1,357,385
----------------- ------------------- ---------------
Revenues from continuing operations for the third quarter and first nine months
of fiscal 2014 were 5.5% and 128% higher respectively than the third quarter and
first nine months of fiscal 2013, due primarily to increased sales of the
MagCast Digital Publishing Platform.
According to Ted Greenberg, 30DC's CFO, "over the past two years the Company's
business strategy has evolved towards internally developed digital publishing
and marketing services. As our service offerings for MagCast and Market Pro Max
have matured and we have developed video based training programs around these
services, our Company's efforts are starting to pay off." For the first nine
months of fiscal 2014 Products & Services Revenue increased 280% over the first
nine months of fiscal 2013. Management believes the Company is poised for
significant revenue growth in the near future.
Operating Expenses from continuing operations were $495,263 and $2,393,869
respectively, for the three months and nine months ended March 31, 2014,
compared to $464,151 and $1,531,961 for the same periods in the prior fiscal
year.
Net loss was $(218,270) or $(.00) per share, and net income $112,276, or $.00
per share, for the third quarter and nine months ended March 31, 2014, compared
to a loss of $(139,096), or $(.00) per share, and a loss of $(372,332) or $(.00)
per share, for the same periods of fiscal 2013. The increase in net income
during the first nine months of fiscal 2014 compared to the same period in the
prior fiscal year was primarily due to the effect of increased sales of the
MagCast Publishing Platform.
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30DC ended the third quarter of fiscal 2014 with $102,015 of cash and $760,630
of shareholders' equity. The Company currently has 76,843,464 commons shares
outstanding which reflects the redemption of 10,560,000 shares during the
quarter as part of the divestiture of the Immediate Edge business. Operating
results for the Immediate Edge for all periods reported in the March 2014 10Q
have been reclassified to discontinued operations and are not included in the
above numbers for continuing operations.
About 30DC, Inc.
30DC provides web-based tools for the monetization of digital content. For
addition information on 30DC, please download a corporate fact sheet:
http://30dcinc.com/investors/news.
To download 30DC Investor Relations Magazine:
https://itunes.apple.com/us/app/30dc-investor-relations-magazine/
id737655178?mt=8
This press release contains "forward-looking statements" within the meaning of
various provisions of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995, commonly identified by such terms as "believes,"
"looking ahead," "anticipates," "estimates" and other terms with similar
meaning. Specifically, statements about the Company's plans for accelerated
growth, improved profitability, future business partners, M&A activity, new
service offerings and pursuit of new markets are forward looking statements.
Although the company believes that the assumptions upon which its
forward-looking statements are based are reasonable, it can give no assurance
that these assumptions will prove to be correct. Such forward-looking statements
should not be construed as fact. The information contained in such statements is
beyond the ability of the Company to control, and in many cases the Company
cannot predict what factors would cause results to differ materially from those
indicated in such statements. All forward-looking statements in the press
release are expressly qualified by these cautionary statements and by reference
to the underlying assumptions.
For additional:
Greg Laborde, 30DC, Inc.
Phone: 212-962-4400 Ext 82
E-mail: greg.laborde@30dcinc.com or
visit http://www.30dcinc.com
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