ChineseInvestors.COM Announces Profitable 1st Quarter!
AURORA, Colo., Oct. 18, 2013 /PRNewswire/ -- ChineseInvestors.COM (OTCQB Symbol 'CIIX') reported 1st quarter results in their 10Q filing on Tuesday showing net profits of $1,767 on increased 1st Quarter FY 2014 revenues of $525,011 over prior 4th Quarter FY 2013 revenues of $425,676. In comparison to the prior period (4th Quarter FY 2013) revenues were up $83,000 (16%) and expenses were down $136,000 (25%). This 1st Q FY 2014 profit was in comparison to a loss in the 4th Quarter FY 2013 of $217,312 marking a substantial milestone for the Company's progress since becoming public in early 2011.
Mr. Warren Wang, Chairman and Chief Executive Officer commented, "We have been able to generate a good bit of success in the expansion of our updated Corporate Service Provider offerings. We completed the last quarter of FY 2013 with four clients and in the first quarter of FY 2014 we expanded that number to seventeen clients; twelve of which have retained us in active Service Provider agreements of at least ninety days duration. We will continue to focus on both the expansion of our subscriber base as well as building revenues by growing our corporate service offerings."
Mr. Wang added, "In addition to our general services, our long term partnership with Phoenix Satellite Television, established in 2003 allows for many of our clients to share their corporate story with Phoenix's subscriber base here in North America on our weekly program, Wall Street Weekly."
Mr. Brett Roper, Chief Operating Officer commented, "We are in the unique position of being able to offer various Investor Relation related services to our client base that includes message delivery to our audience of highly market engaged Chinese subscribers that are based for the most part in the US and Canada. We have also been engaged to provide various levels of support for private to public company initiatives as well as general up listing support for OTCQB companies wishing to move up to the higher exchanges."
ChineseInvestors.COM, Inc. ('CIIX'), founded in 1999 endeavors to be an innovative company; providing (a) real-time market commentary, analysis, and educational related services in Chinese language character sets (traditional and simplified), (b) support services to our various partners, (c) consultative services to smaller private companies considering becoming a public company, (d) advertising and public relation support services, and (e) other services we may identify having the potential to create value or partnership opportunity with our existing services.
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 Commission (SEC). Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors detailed from time to time in our filings with the Securities and Exchange Commission. Among other matters, the Company may not be able to sustain growth or achieve profitability. Reference is hereby made to cautionary statements set forth in the Company's most recent reports on Form 10-K and 10-Q, and other SEC filings. In addition, the information contained in this press release is subject to the risk factors identified in the Company's most recent Form 10-K. 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.
SOURCE ChineseInvestors.COM, Inc.