NEWPORT BEACH, CA -- (Marketwire) -- 03/07/13 -- Accelerize New Media Inc. (OTCBB: ACLZ), owner and operator of Cake Marketing(www.cakemarketing.com), a highly scalable SaaS (Software-as-a-Service) platform providing a comprehensive and complete online tracking solution for advertisers -- from acquisition through conversion, today announced financial results for its fiscal year ended December 31, 2012.
"Growing industry demand for our innovative SaaS platform and capitalizing on the true power of our recurring revenue business model enabled Accelerize to achieve its first full year of profitability, with record revenues that grew 146% year over year," said Accelerize New Media Inc. Chairman and CEO Brian Ross. "Given the increased number of new clients and greater usage among existing clients, we fully expect this momentum to continue through 2013 as we continue to scale our business both domestically and internationally."
"Reaching profitability was an important milestone, providing validation for our business model and enabling us to prudently reinvest in R&D and build shareholder value," added Mr. Ross. "With advertisers demanding a measurable return on investment for their marketing initiatives, we are confident that the R&D investments we have made and continue to make will result in ongoing and significant market share gains as the industry embraces performance-based marketing."
Financial Highlights for FY 2012
About Accelerize New Media, Inc.
Accelerize New Media, Inc. owns and operates Cake Marketing, a highly scalable SaaS (Software-as-a-Service) platform providing a comprehensive and complete online tracking solution for advertisers -- from acquisition through conversion. Easy-to-use wizards and real-time reporting guide users through every step of managing and optimizing campaigns. From traffic providers to advertisers, tracking to data distribution, Cake Marketing offers the most robust platform to manage your business and analyze the performance of your marketing relationships. Seamless integration with other services through a developed API eliminates bottlenecks while increasing ROI for advertisers.
Use of Forward-looking Statements
This press release may contain forward-looking statements from Accelerize New Media, Inc. within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and federal securities laws. For example, when we describe our momentum moving into 2013, industry demand for the Cake Marketing platform, our ongoing and significant market share gains, and our future revenues, we are using forward-looking statements. These forward-looking statements are based on the current expectations of the management of Accelerize New Media only, and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: changes in technology and market requirements; our technology may not be validated as we progress further; we may be unable to retain or attract key employees whose knowledge is essential to the development of our products and services; unforeseen market and technological difficulties may develop with our products and services; inability to timely develop and introduce new technologies, products and applications; loss of market share and pressure on pricing resulting from competition, which could cause the actual results or performance of Accelerize New Media to differ materially from those contemplated in such forward-looking statements. Except as otherwise required by law, Accelerize New Media undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. For a more detailed description of the risk and uncertainties affecting Accelerize New Media, reference is made to Accelerize New Media's reports filed from time to time with the Securities and Exchange Commission.
ACCELERIZE NEW MEDIA, INC.
CONDENSED BALANCE SHEETS
December 31, December 31,
ASSETS 2012 2011
------------- -------------
(Unaudited)
Current Assets:
Cash $ 231,926 $ 104,750
Accounts receivable 673,818 357,770
Other assets 42,783 124,521
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Total current assets 948,527 587,041
Property and equipment 52,297 50,447
Other assets 88,000 3,351
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Total assets $ 1,088,824 $ 640,839
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LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
Liabilities:
Accounts payable and accrued expenses $ 284,526 $ 413,322
Other liabilities 24,616 75,242
Convertible notes payable and notes payable 299,325 1,041,590
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Total liabilities 608,467 1,530,154
Total stockholders' equity (deficit) 480,357 (889,315)
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Total liabilities and stockholders' equity
(deficit) $ 1,088,824 $ 640,839
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ACCELERIZE NEW MEDIA, INC.
CONDENSED STATEMENTS OF OPERATIONS
Years ended
December 31,
----------------------------
2012 2011
------------- -------------
(Unaudited)
Revenue: $ 5,800,622 $ 2,363,073
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Operating expenses 5,419,685 3,216,954
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Operating income (loss) 380,937 (853,881)
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Interest expense, net (165,822) (316,939)
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Net income (loss) from continuing operations 215,115 (1,170,820)
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Net income (loss) from discontinued operations 277,833 (6,275)
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Net income (loss) $ 492,948 $ (1,177,095)
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Less dividends series A and B preferred stock (83,231) (373,842)
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Net income (loss) attributable to common stock $ 409,717 $ (1,550,937)
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Earnings per share:
Basic
Continuing operations $ 0.00 $ (0.04)
Discontinued operations $ 0.01 $ (0.00)
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Net per share $ 0.01 $ (0.04)
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Diluted
Continuing operations $ 0.00 $ (0.04)
Discontinued operations $ 0.00 $ (0.00)
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Net per share $ 0.01 $ (0.04)
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Basic weighted average common shares
outstanding 52,439,242 37,376,270
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Diluted weighted average common shares
outstanding 59,467,356 37,376,270
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ACCELERIZE NEW MEDIA, INC.
CONDENSED STATEMENTS OF CASH FLOWS
Years ended
December 31,
----------------------------
2012 2011
------------- -------------
(Unaudited)
Cash flows from operating activities:
Net income (loss) from continuing operations $ 215,115 $ (1,170,820)
Adjustments to reconcile net income (loss)
from continuing operations to net cash
provided by (used in) operating activities:
Depreciation and amortization 144,839 158,397
Fair value of options, warrants, &
inducements 278,487 491,956
Changes in operating assets and liabilities:
Accounts receivable (316,048) (265,299)
Accounts payable and accrued expenses (128,798) 118,329
Other (55,673) 59,699
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Net cash provided by (used in) continuing
operations 137,922 (607,738)
Net cash provided by (used in) discontinued
operations 28,137 (40,399)
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Net cash provided by (used in) operating
activities 166,059 (648,137)
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Cash flows from investing activities:
Proceeds from sale of discontinued
operations 242,000 36,621
Capital expenditures (41,770) (54,963)
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Net cash provided by (used in) investing
activities 200,230 (18,342)
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Cash flows from financing activities:
Proceeds (repayments) from notes payable,
net (365,000) 500,000
Proceeds from exercise of warrants 125,887 199,626
Other - (20,000)
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Net cash (used in) provided by financing
activities (239,113) 679,626
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Net increase in cash 127,176 13,147
Cash, beginning of year 104,750 91,603
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Cash, end of year $ 231,926 $ 104,750
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Investor Contact
Brian Ross
Chairman & CEO
(310) 710-0578
Email Contact
www.accelerizenewmedia.com