Stock-Trak Group Announces Financial Results for 2008 Second Quarter Wednesday August 13, 2008 4:00 PM
Wed Aug 13, 4:04 PMMONTREAL--(BUSINESS WIRE)--Stock-Trak Group (OTCB: STKG) today released its financial results for the second quarter ended June 30, 2008.
For the second quarter, the Company reported revenues of $1,356,236 up over 172% compared to $499,028 for the same period a year earlier. The Companys gross profit for the second quarter was $1,151,399 reflecting a gross margin percentage of approximately 85% compared to 72% for the same period a year earlier. The Company showed a net loss of $892,694 down from $2,916,535 recorded in the same quarter in the previous year. The net loss for the quarter included non cash items such as depreciation and amortization and stock-based compensation. The Companys net loss for the second quarter, before such non cash items, amounted to approximately $580,000. During the six months ended June 30, 2008 Stock-Traks net cash position decreased by $968,000 while net cash used in operations was $1,049,470 for the same period. The Company ended the quarter with $2,197,493 in cash or cash equivalents.
The Company continues to make solid progress in key segments of the business, said Rory Olson, Stock-Trak Groups Chief Executive Officer. Version 2 of the Wall Street Survivor contest portal was successfully launched in May and early indications are that, based on survey responses, the player satisfaction rate is very high with respect to the new features and functions which have been incorporated.
The Company launched another WallStreetSurvivor stock trading challenge (www.WallStreetSurvivor.com) in May, 2008. The contest has already attracted over 45,000 new registrants.
New V.2.0 site features include:
- Buddy Lists which will allow the Survivor to invite friends and family to a personalized buddy leaderboard and allow Survivors to track performance in relation to his or her buddies.
- Profile Pages where every Survivor gets a personalized profile page that displays their most recent trades, their Buddy list, a Guest Book and many other features designed to enhance the sites social networking environment.
- Starter Stock Portfolios allow Survivors with little or no experience to get in the game by selecting from a series of pre-populated portfolios which the Survivor can then modify as they wish.
- Dashboard Overview has been enhanced to allow the Survivor even greater visibility into the make up of the portfolio and its relative overall performance.
- Video News Feeds provide the Survivor a vast library of video feeds ranging from breaking market news to tutorial and educational content.
- Platform Upgrade designed to offer Stock-Trak clients greater scalability and extensibility, and to bring Survivors into an even greater real-life simulation environment.
About Stock-Trak Group, Inc.
Stock-Trak Group, Inc, in existence since 1990, is a leading global provider of web-based stock market simulation and training products. Stock-Trak Group has three office locations in Montreal, Quebec; Mississauga, Ontario and Atlanta, Georgia and is divided into two distinct business units. Through its wholly owned subsidiary, Stock-Trak, Stock-Trak Group targets the academic and financial services markets with proprietary stock market simulation and training tools. Wall Street Survivor, part of Stock-Trak Group's consumer division, targets online investing, trading and game enthusiasts with a market leading web 2.0 investment-oriented educational simulation and contest web site while replicating the real world stock market experience without the risk. Our media division is a full service marketing firm that operates an advertising based network of outdoor multimedia L.E.D. display screens.
Important Information about Forward-Looking Statements: All statements in this news release other than statements of historical facts are forward-looking statements which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates," "believes," "could," "expects," "intends," "may," "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. Such statements are not guarantees of future performance or events and are subject to known and unknown risks and uncertainties that could cause the Company's actual results, events or financial positions to differ materially from those included within the forward-looking statements. Such factors include, but are not limited to, the availability of capital resources, our ability to execute our business plan, our ability to attract and retain customers and qualified personnel, customer acceptance and satisfaction with our event marketing services and proposed stock market simulation contest, changes in applicable regulatory actions, changes in the securities or capital markets, statements of assumption underlying any of the foregoing, and other factors disclosed in our annual report on Form 10-K for the year ended December 31, 2007 and other filings with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as required by law, we undertake no obligation to disclose any revision to these forward-looking statements to reflect events or circumstances after the date hereof.
Stock-Trak Group, Inc.
Rory Olson, 1-514-871-2222
http://www.StockTrak.com



