Modavox Reports Third Quarter 2007 Results

PHOENIX -- Modavox, Inc. (OTCBB:MDVX - News), Internet broadcasting pioneer in producing and syndicating online audio and video, today announced its fiscal third quarter financials for the quarter ended November 30, 2007.

For the quarter ended November 30, 2007 revenues were $797,559 compared to $868,406 for the quarter ending November 30, 2006. Revenues for the quarter ended November 30, 2007 included $177,649 from the Interactive Media Division and $619,910 from the Broadcast Media Division compared to $314,919 and $553,487 respectfully for the quarter ended November 30, 2006. The Broadcast Media Division revenues in 2007 included $51,217 from World Talk Radio, which was acquired on March 3, 2007. Revenues produced from new business actually increased an additional $160,000 for the quarter ending November 30, 2007 compared to the quarter ending November 30, 2006 as the quarter ending November 30, 2006 included $160,000 in deferred revenues gained by the Company during the quarter.

For the nine months ended November 30, 2007 revenues were $2,531,779 compared to $2,000,255 for the nine months ending November 30, 2006. Revenues for the nine months ended November 30, 2007 included $603,414 from the Interactive Media Division and $1,928,365 from the Broadcast Media Division compared to $853,585 and $1,146,670 respectfully for the nine months ended November 30, 2006. The Broadcast Media Division revenues in 2007 included 410,887 from World Talk Radio, which was acquired on March 3, 2007. During the nine months ended November 30, 2007, the Company had a net loss of $650,207 compared to a net loss of $397,491 in 2006. The Company realized additional costs associated with the litigation with AOL/Tacoda and other contingencies of $291,000 for the quarter ending November 30, 2007 compared to $12,294 in the 2006 quarter.

Modavox CEO David J. Ide stated, "This past quarter was a transitional one for our company, one in which we continued and accelerated our investment in the defense of our intellectual property while making significant improvements in our ability to apply our patented technologies in key identified industry verticals.

Our market leadership in Internet talk radio is now vastly improved through our advancements in our patented BoomBox RadioT platform that includes FLASH streaming integration and development of next generation listener and talk show host environments. We've created new audience building distribution for our talk radio content through syndication to terrestrial radio stations, global cellular networks, and RSS feeds now present on our networks. We continue to pursue highly targeted niche advertising opportunities existing in many communities created by our hosts, and in step with our continued audience growth, we are well positioned to capitalize on new media advertising growth trends. Collectively, we have established the foundation to now support a more scalable advertising and sponsorship revenue component in our Internet Radio Division.

In our Interactive Division, significant resources were applied to our patented customized content communications solutions. We've vastly improved our advertising platform and increased our scalability. We anticipate that as many as 75 network television affiliates may have adopted our platform before the end of the fourth quarter. Our E-Learning platform has been enhanced, and for the first time, applied in an American high school environment. As a result of our research, development efforts and collaboration with leading educational institutions, we anticipate a new product launch prior to the close of our fourth quarter. Lastly, our Enterprise platform progress is marked by the completion of BoomBoxT Video 2.0, an innovative software product line just completed giving us a versatile vehicle for focused revenue growth in our Interactive Division. BoomBoxT Video enables scalable Pay-Per-View, E-Commerce and Advertising revenue models that have the potential to allow Modavox to earn revenue in new ways while largely automating revenue generation in specific applications.

We continue to remain focused on executing our business plan, believing our fourth quarter results should provide clear evidence of our continuing commitment to build shareholder value."

About Modavox
Modavox, Inc. (www.modavox.com), a pioneer in internet broadcasting, producing and syndicating online audio and video, offers innovative, effective and comprehensive online tools for reaching targeted niche communities worldwide. Through patented Modavox technology, Modavox delivers content straight to desktops and internet-enabled devices. Modavox provides managed access for live and on-demand Internet Radio Broadcasting, E-learning and Rich Media Advertising.

Forward-Looking Statements
This release contains "forward-looking statements" for purposes of the Securities and Exchange Commission's "safe harbor" provisions under the Private Securities Litigation Reform Act of 1995 and Rule 3b-6 under the Securities Exchange Act of 1934. These forward-looking statements are subject to various risks and uncertainties that could cause Modavox's actual results to differ materially from those currently anticipated, including the risk factors identified in Modavox's filings with the Securities and Exchange Commission.

Media Contact:
David J. Ide
Modavox, Inc.
602-648-6080

Investors Contact:
C&H Capital, Inc
678-570-6791

View All Modavox Press Releases»