USSPI Media Reports on 3rd Quarter 2015 Financial Results and Strategic Options

Nov 12, 2015, 17:21 ET from USSPI Media, Inc.

HUDSONVILLE, Mich., Nov. 12, 2015 /PRNewswire/ -- USSPI Media, Inc. (OTC: USPI), the parent company of National Home Delivery, Inc. ("NHDI"), a wholly owned subsidiary, and InMarketSolution, Inc. ("IMS"), of which it owns 80%, reported a net loss after tax of $876,499 on gross sales of $2,194,649 for its 3rd quarter ending September 30, 2015.   The Company's gross sales were again negatively impacted by continuing industry wide reductions in spending by national advertisers on certain newspaper advertising products.  Due to this trend, the Company conducted goodwill impairment testing, including having an independent valuation study completed, and concluded that there was a goodwill impairment, resulting in a write off of $885,942.

In addition, because of the trend towards reduced newspaper advertising spend and the Company's expectation that those reductions will continue, the Company's expectation of continuing losses from NHDI, the Company's expectation of continuing losses from IMS in the near term and the need for additional investment in IMS, the Company is exploring strategic options.  Those options include selling its stock in NHDI and IMS to management groups or other interested parties, if any, with the objective of maximizing the cash assets of the Company and minimizing its liabilities, dissolving the Company and distributing its cash to shareholders.  As of September 30, 2015, the Company had $1,785,108 in cash.  Any sale of IMS would be conditioned on the purchaser repaying IMS's note to the Company, which currently has a principal balance as of September 30, 2015 of $696,000.  Any sales of the subsidiaries to management groups would be contingent on the absence of any other bona fide offers that might provide more value to the Company and its shareholders.  To date, the Company has not received an offer from any third party willing to purchase either operating subsidiary for the prices determined by the independent valuation.  As a result, the Company has begun discussing the sale of the subsidiaries to certain members of the Companies' management.

The unaudited financial statements were prepared by management.  The Company became a non-reporting company pursuant to a Form 15 filed with the Securities and Exchange Commission effective January 2, 2004 and does not currently plan to produce audited financial statements or an annual report to the shareholders or to solicit proxies for the annual meeting.  The Company does however provide current unaudited information on the OTC Disclosure and News Service ( under the stock symbol USPI.  The Company currently has 8,046,656 shares issued and outstanding. 

USSPI Media, Inc. conducts operations through its operating subsidiaries, NHDI and IMS.    The Company's financial statements are consolidated with those of NHDI and IMS for both tax and accounting purposes.   The principal business of NHDI is the media buying and placement of national targeted advertisements and promotional material in local media.  The principal business of IMS is the printing and mailing of "pay for performance" advertising programs to automobile dealers throughout the United States.

USSPI Media, Inc.
4675 – 32nd Avenue
Hudsonville, MI 49426

USSPI Media, Inc., and Subsidiaries

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Statements in this news release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act.  The forward-looking statements can generally be identified by words such as "believes," "anticipates," "expects" or words of similar meaning.  Forward-looking statements also include statements relating to the Company's future performance, such as future prospects, revenues, profits and cash flows.  The forward-looking statements are subject to risks and uncertainties, which may cause actual results to be materially different from any future performance suggested in the forward-looking statements.  Readers are cautioned not to place undue reliance on these forward-looking statements.  The forward-looking statements are made only as of the date hereof, and the Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements.