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TheDirectory.com Posts Record Q1 Revenue; Year Over Year Top-Line Grows by Nearly 200%Company Expects to Become Fully Reporting in Current Quarter (March 07, 2012)
TAMPA, FL -- (Marketwire) -- 03/07/12 -- TheDirectory.com, Inc. (PINKSHEETS: SEEK) today announced its preliminary top-line sales results for its fiscal first quarter ending February 29th. For Q1 TheDirectory.com, Inc. generated preliminary sales of $141,749 versus Q1 2011 sales of $48,298 for an annual increase of nearly 200%.
TheDirectory.com, Inc. Founder and CEO Scott Gallagher stated, "We're very pleased that even with an increased focus on development during Q1, we were still able to generate record revenues. While the first quarter helped us generate year-over-year growth of nearly 200% and put us on a run rate reflecting 50% full year growth already, we feel like we're only just beginning with the launch of version 2.0 of www.TheDirectory.com still developing. We've also begun the redesign of www.BusinesslIst.com to fully integrate our Local business listing management product into the site and fully monetize that property."
Gallagher went on to say, "We're continuing to prepare our two-years of audited financial results and form 10 registration statement, we expect to complete the process and file our form 10 this quarter, subject to SEC review. With regards to our listing, we have been advised by OTC Markets that upon filing our form 10 we will be upgraded to 'Limited' Status, after we file our Q1 form 10Q with the SEC we will be upgraded to 'OTCQB' fully reporting status. Since the Q1 form 10Q is a much less involved document than the audits we expect to have it ready to file almost immediately after our form 10 filing. We'll be issuing regular updates as we move through this process and look forward to once again becoming a fully reporting Company."
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 see 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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