By: Staff Reports
Advertise123.com Starts to Generate Revenue
AdStar.com Inc., an online ad placement service, yesterday announced revenues for 1999
were $1.68 million, an increase of 8% over last year’s $1.56 million.
The company’s Internet portal, Advertise123.com, placed more than $550,000 in classified
ads which translated into $267,000, or 16%, of the company’s revenues for 1999.
The company, based in Marina Del Rey, Calif., reported a net loss of $2.87 million in
1999, compared to 1998’s year-end loss of $69,000. The loss per share, basic and diluted,
was $1.90 in 1999 versus $0.05 the previous year. Some of the losses in 1999 were attributed
to non-recurring charges such as an abandoned stock offering and non-cash charges for
warrant and stock issuances worth $456,000.
In the course of 1999, AdStar.com went public on the Nasdaq Stock Market, generating proceeds
of $6.9 million. The company raised a total of $9.9 million (from investors and the IPO) in
AdStar.com provides online ad placement services to clients such as the Atlanta
Journal-Constitution, Chicago Tribune, Los Angeles Times, The Miami Herald, and The Washington
AdStar.com’s stock rose 1/8 to 9 3/8 after the 1999 figures were reported.
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