Welland, ON., March 12, 2004 – Andromeda Media Capital Corporation Limited (OTHER OTC:ADACF.PK) announced a loss of $26,350 during the three-month period ended December 31, 2003. During the same period in 2002, the company reported a loss of $122,000.
“We continue to focus on reducing costs, product development and looking for new licensed partners to join our network,” said Albert Iannantuono, President, Andromeda Media Capital Corporation Limited. “We are excited about the traction our business model and products have been making both in Canada and the United States and we look forward to what lies ahead for the remainder of 2004.”
Revenues for the three months ended December 31, 2003 were down eight per cent over the same period in 2002. Expenses for the three-month period were down by over 60 per cent compared to 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 February 25, 2004 – 30,559,250 (pre -consolidated) 3,395,472 (postconsolidated) common shares.
On February 17, 2004, the shareholders of Andromeda Media Capital Corporation approved a consolidation of its shares on a nine (9) for one (1) basis.
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.