Welland, ON., May 31, 2004 – Andromeda Media Capital Corporation Limited announced a loss of $2,863 during the three-month period ended March 31, 2004. During the same period in 2003, the company reported a loss of $49,614.
“Our efforts to reduce costs, focus on product development and expand and nurture our licensed partner network is having a positive effect on the financial performance of the Corporation,” said Albert Iannantuono, President, Andromeda Media Capital Corporation Limited. “This year we have seen increased demand for our products and services throughout North America and we continue to strive to develop innovative, cost effective products and services for both our partners and their clients.”
Revenues for the three months ended March 31, 2004 grew by 260 per cent over the same period in 2003 from $48,636 to $126,084.
Expenses for the for the three-month-period increased slightly compared to the same period last year however expenses for the fiscal year to date (six-month-period) were down by over 63 per cent compared to this time last year.
Andromeda, through its wholly owned subsidiary, e-commatrix.com® inc., is focused on providing breakthrough eBusiness and eCommerce proprietary products and services. These products are introduced to market through an international network of licensed partners as complimentary product lines to their existing solutions, and under a progressive revenue-sharing model. e-commatrix.com® inc. aggressively sources new partners worldwide.
Issued and outstanding capitalization as at April 1, 2004 - 3,395,472 common shares. No stock exchanges have reviewed or accepted responsibility for the adequacy or accuracy of the content of this press release.
Certain statements contained herein constitute forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and 21E of the Exchange Act of 1934. Such statements include, without limitation, statements regarding business and financing, business trends, and future operating revenues and expenses. Statements regarding the aforementioned are based on several assumptions and are not to be considered fact. Although Andromeda Media Capital Corporation and e-commatrix.com® inc. believe that the statements are reasonable, it can give no assurances that such expectation will prove to be correct. Investors are cautioned that any forward-looking statements made by Andromeda Media Capital Corporation or e-commatrix.com® inc. contain no guarantee of future performance and that actual results may differ materially from those set forth in the forward-looking statements. For additional information see the reports filed by the company in its securities filings with applicable securities regulators (currently available at www.sedar.com). Unless otherwise required by applicable securities laws, Andromeda disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.