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MyStarU.com Announces Six Months Operating Statistics for the Period Ended March 31, 2008
May 19, 2008 (08:05 AM EDT)
BEIJING, May 19 /Xinhua-PRNewswire-FirstCall/ -- MyStarU.com, Inc. announced today that it has filed with the SEC a Form 10QSB on May 16, 2008. The company reports its six months operating statistics for the Period ended March 31, 2008.
Key operating statistics for the first six months include:
-- Revenues totaled $15,808,919 for the six months ended March 31, 2008 compared to $9,397,481 for the six months ended March 31, 2007. The increase of $6,411,438 is due primarily to the increase in revenues of $3,160,962, $666,090 and $3,481,999 for the investments in entertainment arts, online content and member services provider and the importing and exporting of goods business segments.
-- The investments in entertainment arts business segment generated revenues from the sale of the Company's "Master Franchise Licenses," which accounted for $1,203,269 and $0 in revenues for the six months ended March 31, 2008 and March 31, 2007, respectively. Additionally, the Company sold certain copyrights for $1,737,305 during the six months ended March 31, 2008 and did not sell any copyrights during the six months ended March 31, 2007.
-- The Company's subsidiary, Subaye.com, increased its memberships and corporate profiles which resulted in increased revenues of $666,090 for the six months ended March 31, 2008 versus the six months ended March 31, 2007.
-- The Company benefited from increased sales in its import and export business segment, which increased $3,481,999 for the six months ended March 31, 2008 versus the six months ended March 31, 2007. The import and export business segment has produced consistent and significant growth each fiscal quarter since it was acquired in April 2006.
-- Net income for the six months ended March 31, 2008 of $1,594,856. Earnings per share for the six months ended March 31, 2008 and 2007 was $0.01 versus $(0.03), respectively. Total stockholders' equity was increased $3.7 million to $21.7 million compared to $18 million at March 31 of 2007.
-- On March 31, 2008, Subaye.com has totaled 46,233 Corporate Video Profiles and 19,659 Business Members.
About MyStarU.com, Inc.
MyStarU.com, Inc. (MYST) is a Total Solutions Provider that offers Integrated Communications Network Solutions and Internet Content Service in universal voice, video, data web and mobile communications for interactive media applications, technology and content leaders in interactive multimedia communications. It develops, markets and sells a universal media software solution for enterprise-wide deployment of integrated voice, video, data web and mobile communications and media applications. MyStarU.com, Inc. does business in Asia via its wholly-owned subsidiaries, MyStarU Ltd. ( http://www.MyStarU.com http://www.skyestar.com http://www.icurls.com http://www.subaye.com http://www.x381.com http://www.goongreen.org , , ) and majority owned subsidiary Subaye.com, Inc. ( , , ).
The statements made in this release constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project," "expect," or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, changing economic conditions, interest rates trends, continued acceptance of the Company's products in the marketplace, competitive factors and other risks detailed in the Company's periodic report Filings with the Securities and Exchange Commission. By making these forward- looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.
CONTACT: Ms. Helen Wang of MyStarU.com, Inc., +86-10-6702-6968, or IR@MyStarU.com
Web site: http://www.MyStarU.com/ http://www.skyestar.com/ http://www.icurls.com/ http://www.subaye.com/ http://www.x381.com/ http://www.goongreen.org/