ChineseInvestors.COM Announces 4th Quarter and End of Year Results in its 10K Filing
SHANGHAI, Aug. 30, 2012 /PRNewswire/ -- Warren Wang , CEO of ChineseInvestors.COM (OTCBB: CIIX) announced 4th quarter revenues increased 16% (from $230,043 to $272,572) over 3rd quarter revenues for FY 2013. Revenues for the entire year were up approximately 6% over the prior year totaling $897,105. Net losses for the year were significantly higher than last year, just over $1.7M and were primarily attributable to the expenses associated with becoming a public company, the costs of raising additional capital (private placement memorandum and public shares registration), public company operating costs, costs of options awarded, and an increase in general operating expenses as associated with the deployment of several new business lines.
Mr. Wang expressed optimism in that there were several new business development opportunities undertaken in the last two quarters of this year (2012) that should create a significant increase in our revenues for the upcoming year as well as help the Company achieve its current profitability objective in the 4th quarter of FY 2013. Highlights this year include:
- Becoming a public company on the OTCBB (QB, February 2012)
- Entered into a new relationship with KrisWorld Development Limited of Hong Kong in support of its binary options business including the establishment of a client service center in Shanghai, China which has added a significant new revenue source (December 2012)
- Completion of a convertible preferred private placement offering; raising $2M USD (March 2012)
- Established a consulting services division to assist private enterprises (Globally) in their consideration of becoming a public company in the US (April of 2012)
- Secured a $1.5M equity line of credit through an S1 filing in conjunction with Kodiak Capital Group LLC (May of 2012)
Mr. Wang also noted that the Company plans to conduct its annual Shareholder Meeting on or about October 20th, 2012 in Arcadia California as noted in its current DEF14 proxy filing.
ChineseInvestors.COM is an Indiana Corporation founded in 1999, providing real time financial market(s) information through various subscription based products (free and paid) delivered via its websites (www.chinesefn.com and www.chineseinvestors.com) to Chinese persons in the US as well as abroad. The Company also provides client support services for various financial service providers, consulting services for private companies (US and global) considering public options in the US, advertising and PR/IR services, and other related financial service and education based products.
Safe Harbor Statement
This press release may contain forward looking statements which are based on current expectations, forecasts, and assumptions that involve risks as well as uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected, including statements related to the amount and timing of expected revenues as well as any payment of dividends on our common and preferred stock, statements related to our financial performance, expected income, distributions, and future growth for upcoming quarterly and annual periods. These risks and uncertainties are further defined in filings and reports by the Company with the U.S. Securities and Exchange Commissions (SEC) including but not limited to information as contained within the Company's most current quarterly reports, annual reports, and or other such filings. Furthermore, the Company disclaims any intention or obligation to update or revise any such forward looking statements, whether as a result of new information, future events, or otherwise. We have incurred and will continue to incur significant expenses in our expansion of our existing as well as new service lines noting there is no assurance that we will generate enough revenues to offset those costs. Additional service offerings may expose us to additional legal and regulatory costs and unknown exposure(s) based upon the various geopolitical locations we will be providing services in, the impact of which cannot be predicted at this time.
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