2149 0 Kommentare Digital Shelf Space Corp. Announces Unaudited Financial Results for the Six Months Ending June 30, 2014 and Stock Option Grants

VANCOUVER, BC--(Marketwired - August 29, 2014) - Digital Shelf Space Corp. (the "Company" or "DSS") (TSX VENTURE: DSS) (PINKSHEETS: DTSRF) announced today its unaudited financial results for the six month period ended June 30, 2014.

Highlights

Non-cash expenses for the period totaled $889,953.
On August 7, 2014 the filming and production of the new instructional exercise series FLO FIT starring recording artist Tramar Dillard (FLO RIDA) commences.
FLO Holdings, LLC invests $100,000 USD ($110,000 CAD) into the Company and receives 733,334 common shares at $0.15 CAD.
On May 9, 2014 the Company closes a $3,000,000 private placement.
Company hires former GAIAM executive to be President and COO.
Company appoints former Herbal Magic and Hair Club CEO to board of directors.
TOURAcademy short-form infomercials are test aired on Golf Channel in July.
GSP RUSHFIT 30 minute long-form infomercial is test aired in August.

Revenue (USD)

Total revenue for the period was $161,104 (2013 - $600,510).

Expenses (USD)

Operating expenses for the six months ending June 30, 2014 were $1,787,070 (2013 - $1,450,182) however, excluding non-cash expenses reported for this period of $889,953 (2013 - $141,782), the adjusted total operating cash expenses were $897,117 (2013 - $1,308,400). Key non-cash expenses were the cost of the GSP RUSHFIT infomercial of $493,382 (required under IFRS IAS 38 to be fully expensed in the period the Company took possession of completed product) and stock-based compensation of $316,109.

Net Loss

Net loss for the six months ended June 30, 2014 was $1,625,966 (2013 - $849,672). Adjusted loss excluding non-cash expenses for the period was $736,013 (2013 - $707,890), marginally higher than 2013.

Selected Financial Highlights


Selected Period Information
		Six months ended June 30, 2014			Six months ended June 30, 2013
Gross Revenue	$	161,104		$	600,510
Net loss	$	(1,625,966	)	$	(849,672	)
Currency Translation Adj.	$	367,673		$	(5,922	)
Weighted average number of shares outstanding		38,590,171			17,944,173
Net loss per share ⁽¹⁾	$	(0.033	)	$	(0.010	)
Total assets	$	4,016,329		$	2,616,617
Total liabilities	$	745,485		$	954,330
Shareholders equity	$	3,270,844		$	1,662,287