Operational Highlights:

-- Q2 2009 revenue: $784,242, as compared to $533,257 in Q2 2008 -- a 47% year-over-year i....." />
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SNAP Interactive Announces Second Quarter 2009 Operating Results

SNAP Maintains Year-Over-Year Revenue Growth, Continued Profitability (August 19, 2009)

NEW YORK, NY -- (Marketwire) -- 08/19/09 -- SNAP Interactive, Inc. ("SNAP" or the "Company") (OTCBB: STVI), a leading provider of online dating applications for social networking websites, today announced operating results for the quarter ended June 30, 2009.

Operational Highlights:

-- Q2 2009 revenue: $784,242, as compared to $533,257 in Q2 2008 -- a 47% year-over-year increase

-- Sixth consecutive profitable quarter


-- Continued development & growth of AreYouInterested.com & Are You Interested mobile dating application on the iPhone

(A comprehensive description of results follows below.)

"We are excited to report our sixth consecutive quarter of operational profit," stated SNAP President & CEO Clifford Lerner. "We were able to maintain profitability while continuing to focus on growing the company and expanding our products and user base. Development continued on our new website, AreYouInterested.com, as well as the Are You Interested iPhone app for mobile dating and we remain optimistic that both of these products will play a major role in the company going forward. In Q2 we continued to experience declining advertising payouts and intend to aggressively pursue other potential means of monetization in order to offset this in the upcoming quarters."

Comprehensive Operational Results Description

Revenue for the three months ended June 30, 2009 was $784,242, as compared to $533,257 for the three months ended June 30, 2008, a 47% increase. Revenue for the six months ended June 30, 2009 was $1,553,214, as compared to $1,053,159 for the six months ended June 30, 2008, a 47% increase.

These revenues are primarily generated from advertisements and premium features placed on our various applications. The increase in revenue was primarily due to higher engagement on our applications in 2009 compared to the same time period in 2008 as well as the introduction of premium features to our applications to generate additional revenue. We did not offer premium fee-generating features on our applications during the same period in 2008.

Our revenue of $784,242 for the three months ended June 30, 2009 represented a 2% increase as compared to revenue of $768,972 for the quarter ending March 31, 2009.

Net income for the three months ended June 30, 2009 was $46,430 as compared to net income of $144,862 for the three months ended June 30, 2008, a 68% decrease. Net income for the six months ended June 30, 2009 was $112,902 as compared to net income of $335,371 for the six months ended June 30, 2008, a 66% decrease. The decrease in net income was primarily due to the provision for income taxes which were not paid during the same periods last year as a result of a Net Operating Loss carry-forward from previous quarters.

About SNAP Interactive, Inc.

Incorporated in Delaware and headquartered in New York City, SNAP Interactive, Inc. is a leading provider of online dating applications for social networking websites and mobile platforms. SNAP has developed two dating applications built on Facebook ® Platform which have in excess of 17 million installations on Facebook, and has also launched dating applications on MySpace Developer Platform, Bebo, and Hi5 Developer Platform. The newest addition to SNAP's portfolio is an online dating site for singles called AreYouInterested.com that utilizes Facebook Connect to share content with their Facebook friends. SNAP also recently launched an iPhone application for mobile dating called 'Are You Interested?'

For more information visit www.snap-interactive.com.

Facebook® is a registered trademark of Facebook Inc.

iPhone(TM) is a trademark of Apple Inc.

Forward-Looking Safe Harbor Statement:

This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. By their nature, forward-looking statements and forecasts involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the near future. There are a number of factors that could cause actual results and developments to differ materially from forecasted results. These risks and uncertainties include product demand, market competition, fluctuations in advertising payouts, delays in website & application development, technical issues beyond our control, reliance on the various platforms that we build applications on, and risks inherent in our operations. For a discussion of these risks and uncertainties, please see our filings with the Securities and Exchange Commission. Our public filings with the SEC are available from commercial document retrieval services and at the website maintained by the SEC at http://www.sec.gov. All traffic statistics are recent averages.

Snap Interactive, Inc. and Subsidiaries Condensed Consolidated Balance Sheets ASSETS ------ June 30, December 31, 2009 2008 ------------ ------------ (Unaudited) Current Assets Cash $ 1,411,129 $ 1,529,354 Investments 251,623 - Accounts receivable, net 294,869 386,507 Prepaid Expense 76,346 398 ------------ ------------ Total Current Assets 2,033,967 1,916,259 ------------ ------------ Property and Equipment, net 89,371 31,297 Other Assets Security Deposit 33,435 18,750 ------------ ------------ Total Other Assets 33,435 18,750 ------------ ------------ Total Assets $ 2,156,773 $ 1,966,306 ============ ============ LIABILITIES AND STOCKHOLDERS' EQUITY ------------------------------------ Current Liabilities Accounts payable and accrued expenses $ 261,990 $ 332,731 Settlement Payable 22,553 21,888 Convertible Notes Payable - Related Party 45,486 35,348 Accrued interest 20,077 18,731 ------------ ------------ Total Current Liabilities 350,106 408,698 ------------ ------------ Long Term Liabilities Settlement Payable 11,793 23,238 Convertible Notes Payable - Related Party - 10,138 ------------ ------------ Total Liabilities 361,899 442,074 ------------ ------------ Commitments and Contingencies Stockholders' Equity Preferred stock, $0.001 par value, 10,000,000 shares authorized, none issued and outstanding - - Common stock, $0.001 par value; 100,000,000 shares authorized, 10,837,823 and 10,700,395 shares issued and outstanding, respectively 10,836 10,700 Additional paid-in capital 2,507,396 2,368,397 Accumulated deficit (709,679) (822,581) Less: deferred compensation (13,679) (32,284) ------------ ------------ Total Stockholders' Equity 1,794,874 1,524,232 ------------ ------------ Total Liabilities and Stockholders' Equity $ 2,156,773 $ 1,966,306 ============ ============ Snap Interactive, Inc. and Subsidiaries Condensed Consolidated Statements of Operations (Unaudited) --------- For the Three Months For the Six Months Ended Ended June 30, June 30, June 30, June 30, 2009 2008 2009 2008 ---------- ---------- ---------- ---------- Revenue $ 784,242 $ 533,257 $1,553,214 $1,053,159 Cost of Revenue 298,857 195,854 606,897 331,947 ---------- ---------- ---------- ---------- Gross Profit 485,385 337,403 946,317 721,212 Operating Expenses Depreciation and Amortization 4,874 3,071 8,565 5,360 Compensation expense 175,363 110,031 318,113 188,492 Consulting Fees - 15,187 - 15,187 Advertising expense - 2,150 - 10,470 Professional Fees 32,913 14,101 82,200 36,755 Insurance expense 20,076 6,969 35,386 11,894 Investor relations expense 22,243 - 46,308 - Rent 33,542 15,495 56,451 19,548 General and administrative 65,339 25,266 111,686 97,696 ---------- ---------- ---------- ---------- Total Operating Expenses 354,350 192,270 658,709 385,402 ---------- ---------- ---------- ---------- Income from Operations 131,035 145,133 287,608 335,810 Other Income (Expense) Interest Expense (1,269) (1,558) (2,592) (3,219) Other Income 4,001 - 7,404 - Interest Income 4,218 1,287 7,037 2,780 ---------- ---------- ---------- ---------- Total Other Expense, net 6,950 (271) 11,849 (439) ---------- ---------- ---------- ---------- Income Before Provision For Income Taxes 137,985 144,862 299,457 335,371 Provision for Income Taxes (91,555) - (186,555) - ---------- ---------- ---------- ---------- Net Income $ 46,430 $ 144,862 $ 112,902 $ 335,371 ========== ========== ========== ========== Net Income Per Share - Basic $ 0.00 $ 0.01 0.01 0.03 ========== ========== ========== ========== Net Income Per Share - Diluted $ 0.00 $ 0.01 0.01 0.03 ========== ========== ========== ========== Weighted average number of shares outstanding during the period - Basic 10,814,417 10,337,923 10,795,210 10,335,898 ========== ========== ========== ========== Weighted average number of shares outstanding during the period - Diluted 10,989,602 11,416,049 10,970,395 11,414,024 ========== ========== ========== ==========

Contact Information:
SNAP Interactive, Inc.
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