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TheDirectory.com Completes Record Setting Month; Secures Conversion Freeze From Major Debt Holders(April 04, 2012)
TAMPA, FL -- (Marketwire) -- 04/04/12 -- TheDirectory.com, Inc. (PINKSHEETS: SEEK) today announced that it has completed the best month in the history of the Company in terms of sales and that it has secured a freeze on debt conversions through July 1st from its largest debt holders.
TheDirectory.com founder and CEO Scott Gallagher stated, "We're extremely pleased with the sales results our Company achieved during the month of March. Based on those numbers and the pending launch of our new Local business dashboard we expect Q2 to be the best quarter we've ever had, by a wide margin. So investors have a better idea of what we expect from the Company for the rest of 2012, we'll be releasing updated sales and operating projections for both Q2 and the full year on our shareholder conference call next week."
Gallagher went on to say, "As important as the operations are in the development of our Company, equally as important is our capital structure. On that note we've been working closely with our largest debt holders and are pleased to announce today that we have secured a freeze on debt conversions from our three largest holders. This group collectively holds the majority of our outstanding debt. Each of the debt holders has agreed to refrain from all debt conversions through July 1st giving us time to complete our SEC filings and become fully reporting again and up-list to the OTCQB."
About TheDirectory.com, Inc.
TheDirectory.com is a diversified Local Internet search company that owns and operates a network of locally targeted category specific search destinations anchored by its Local business search engine www.TheDirectory.com, other sites in the network include: www.BusinessList.com, www.Podiatrists.com, www.Chiropractor.net, www.Therapists.net, www.DentistAppointments.com, www.Dietitians.net and many others. For more information visit the Company's Investor web site www.TheDirectory.tv. Review the Company's financial statements and related filings on www.OTCMarkets.com.
Certain statements contained herein are "forward-looking" statements (as defined -- Private Securities Litigation Reform Act of 1995). TheDirectory.com, Inc. cautions that the statements made in this press release constitute forward-looking statements and no guarantees of future performance and actual results or developments may differ materially from projections in forward-looking statements. Forward-looking statements are based on estimates and opinions of management at time the statements are made.
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