Modavox is very excited to announce that for the twelve months ended February 28, 2007 the revenues increased 88% to $2,659,992 compared to $1,411,553 made in the previous year.
The new CEO of the company stated, “2006 was a year in which we successfully executed our business plan resulting in the building of a solid foundation for future growth. Despite having to deal with some legacy issues early on after taking over as CEO, we are now well positioned to capitalize on the multitude of exciting opportunities that lay ahead. We’ve built a dynamic and talented team including the recent hiring of Ivan Martinez and we intend to further strengthen the team with new complimentary additions in the near future.”
Mr. Ide also commented on the balance sheet as being strengthened by stronger financial liquidity and the availability of more then a million dollars for operations. The strategic steps taken by the company has proven its strong position and gives it great potential to continue its growth.
Some of the highlights in the past year include:
Completed acquisition of World Talk Radio creating world’s largest online talk radio network. Combined VoiceAmerica Network and World Talk Radio Network boast 300 plus hosts, 240 hours weekly programming and millions of visitors.
Opened Offices in San Diego & Las Vegas
Engaged Fox Rothchild, L.L.P. to defend Patented Technologies
Greenstone Media™ and Modavox, Inc Joined Forces to Create VoiceAmerica™ Women’s Network
Broadcasted series of leading applications for US Congress, State of Arizona Legislature and Alberta Premier Candidate Featuring our BoomBox Video Platform
Launched VoiceAmerica™ Sports Channel
Fiscal year ended with cash balance of $1,220,592, an increase of $895,533 over the previous year.
Company reported record year end results with working capital of $925,293 and virtually no debt.
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