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[10 bagger]

ASTV.. $0.75 I have been been adding to recently acquired positions on this one.. Trades real screwey with wide swings in prices on small volume.. I think earnings will explode because the size of the company has reached a critical mass to earn money.. hank

As Seen On TV, Inc. Reports Record Quarterly Revenues

Fiscal 2012 Third Quarter Revenues Reach $2.6 Million, an Increase of 565 Percent; Maintains $12.2 Million in Current Assets

CLEARWATER, FL -- (MARKET WIRE) -- 02/16/12 -- As Seen On TV, Inc. (OTCQB: ASTV) (PINKSHEETS: ASTV), the parent company of TVGoods, Inc., a direct response marketing company, is pleased to report that it has filed its 10Q for its third quarter, ended December 31, 2011. The results demonstrate the Company's commercialization ramp, supported by the recent private funding of $14.3 million. As Seen On TV, Inc. will continue to execute on its aggressive growth strategy. The Company believes it has successfully developed a platform to monetize unique products through a variety of direct-to-consumer channels including direct response television, television shopping networks, retail outlets, and e-commerce marketplaces.

For the third quarter of the fiscal year 2012, revenues reached a record $2.6 million, a 565 percent increase from $392,000 in the third quarter of fiscal year 2011. The increase in revenue is primarily due to the introduction of the Living Pure 4-in-1 Heater, endorsed by Montel Williams, in November 2011. In December 2011, the Company began marketing a line of proprietary hair and beauty products under the name of Tru Hair. Gross profit margin of 46 percent was realized in the third quarter, up from a negative gross profit margin a year earlier. Operating loss for the third quarter increased $0.7 million, from $1.2mm in the third quarter of fiscal year 2011 to $1.9 million in the third quarter of fiscal year 2012. The increase in operating loss was primarily due to the introduction and ramp of media spend on the Living Pure 4-in-1 Heater. Operating loss for third quarter 2012 includes non-cash items such as shares and warrants issued for compensation and services. The Company's GAAP net income for the third quarter increased $3.2 million, from a loss of $1.0 million in the third quarter of fiscal 2011 to a profit of $2.2 million in the third quarter of fiscal 2012. The resulting GAAP EPS is $0.08, as compared to ($0.10) a year earlier. GAAP net income and EPS results from the third quarter of fiscal year 2012 include non-cash warrant revaluation and non-cash interest expense.

For the first nine months of fiscal year 2012 ended December 31, 2011, revenues were $3.4 million, a 294 percent increase from $849,000 in the first nine months of fiscal year 2011. Gross profit margin of 43 percent was realized in the first nine months ended December 31, 2011, up from a negative gross profit margin a year earlier. Operating loss for the first nine months increased $0.5 million, from $3.2mm in the first nine months of fiscal 2011 to $3.7 million in the first nine months of fiscal 2012. GAAP net loss for the first nine months increased $9.0 million, from a loss of $1.2 million in the third quarter of fiscal 2011 to a loss of $10.2 million in the third quarter of fiscal 2012. The resulting GAAP EPS is ($0.62), as compared to ($0.13) a year earlier. GAAP net loss and EPS results from the first nine months of fiscal year 2012 include non-cash warrant revaluation, loss of extinguishment of debt and non-cash interest expense.

The past few months have been very busy for As Seen On TV, Inc. The company has taken necessary steps to attract significant capital and reorganize its public company structure and image. The Company successfully raised $14.3 million through private placements with National Securities. The Company changed its name to As Seen On TV, Inc., to better reflect ongoing business strategy. The Company executed a reverse stock split to improve the profile of stock to existing and prospective investors. The Company expanded its Board of Directors by adding two experienced and independent Directors. The Company believes all these steps have positioned it to succeed over the upcoming years.

On the business front, the Company has broadened its ability to identify, advise in development and market consumer products. Chairman Kevin Harrington continues to be active in speaking engagements and participating at tradeshows that attract inventors and products for the product development team to review. In addition, As Seen On TV, Inc. launched Pitch Tank, which debuted on December 10th in Tampa, FL. The initial Pitch Tank, with very little marketing and fanfare, drew approximately 100 entrepreneurs and products owners.

As Seen On TV, Inc. continues to develop its three primary channels of sales & distribution: Direct Response Television (Infomercials), Television Shopping Networks and Retail Outlets. During the quarter, the Company debuted the Living Pure 4-in-1 Heater 30-minute infomercial featuring Montel Williams. While this winter's unseasonably warm weather has impacted sales, Living Pure enjoyed a successful launch. During the quarter ended December 31, there were several product successes on major live television shopping channels. The Company's retail strategy is in its development stage and remains a key initiative over the next several months. In addition to traditional retail, the Company has several ongoing discussions and meetings with social media and e-commerce marketplaces that will broaden its sales channels.

Pipelines for new products continue to strengthen, as the Company is continually sought after for product development and television marketing partnerships.

Steve Rogai, CEO of As Seen On TV, Inc., stated, "We are very pleased with the business progress and financial performance of the quarter. Our product development efforts over the past few quarters have turned into several successful television marketing debuts and product sales. I would like to thank our internal team for their hard work and dedication on the product side. This past quarter was also witness to the necessary steps to clean up and bolster our capital structure. I would like to thank our investors, existing and new from the National Securities private placement, for their support of our business model and strategy. Together we look forward to building a successful and long-lasting business for years to come."

Statement of Operations:


AS SEEN ON TV, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
(UNAUDITED)

Three Months Ended Nine Months Ended
December 31, December 31,
-------------------------- --------------------------
2011 2010 2011 2010
------------ ------------ ------------ ------------

Revenues $ 2,606,034 $ 391,710 $ 3,350,417 $ 848,941
Cost of revenues 1,409,310 587,309 1,917,947 1,168,583
------------ ------------ ------------ ------------

Gross profit (loss) 1,196,724 (195,599) 1,432,470 (319,642)

Operating expenses:
Selling and
marketing
expenses 1,762,583 -- 1,941,886 --
General and
administrative
expenses 1,367,264 1,039,664 3,167,795 2,868,897
------------ ------------ ------------ ------------

Loss from operations (1,933,123) (1,235,263) (3,677,211) (3,188,539)


Other (income)
expense:
Warrant
revaluation (5,977,192) (278,113) (411,421) (2,121,288)
Loss of
extinguishment of
debt -- -- 2,950,513 --
Revaluation of
derivative
liability -- -- (209,351) --
Registration
rights penalty -- -- -- 75,000
Interest income -
related party -- (2,340) -- (10,440)
Other (income)
expense (8,039) 4,090 (9,465) (23,602)
Interest expenses
- notes payable 1,806,014 339 4,180,688 66,145
Interest expense -
related party 1,070 20,233 23,271 44,939
------------ ------------ ------------ ------------
(4,178,147) (255,791) 6,524,235 (1,969,246)

Income/(loss) before
income taxes 2,245,024 (979,472) (10,201,446) (1,219,293)

Provision for income
taxes -- -- -- --
------------ ------------ ------------ ------------

Net income/(loss) $ 2,245,024 $ (979,472) $(10,201,446) $ (1,219,293)
============ ============= ============= ============

Income/ (loss) per
common share:
Basic $ 0.09 $ (0.10) $ (0.62) $ (0.13)
============ ============= ============= ============
Diluted $ 0.08 $ (0.10) $ (0.62) $ (0.13)
============ ============= ============= ============
Weighted-average
number of common
shares outstanding:
Basic 26,179,515 10,187,700 16,358,756 9,679,038
============ ============ ============ ============
Diluted 28,707,965 10,187,700 16,358,756 9,679,038
============ ============ ============ ============


Balance Sheet:


AS SEEN ON TV, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS

December 31, March 31,
2011 2011
------------- -------------
(Unaudited)

ASSETS
Current Assets:
Cash and cash equivalents $ 7,097,285 $ 35,502
Accounts receivable, net 1,146,572 82,238
Advances on inventory purchases 2,134,298 --
Inventories 1,485,639 1,107
Deferred offering costs -- 63,500
Prepaid expenses and other current assets 394,597 46,370
------------- -------------
Total current assets 12,258,391 228,717

Investments, at cost 150,000 150,000
Property, plant and equipment, net 149,148 92,732
Deposit on asset acquisition 719,192 --
------------- -------------

Total Assets $ 13,276,731 $ 471,449
============= =============
LIABILITIES AND STOCKHOLDERS' EQUITY
(DEFICIENCY)
Current Liabilities:
Accounts payable $ 1,316,670 $ 332,833
Notes payable officer -- 91,219
Deferred revenue 68,250 88,652
Accrued interest related parties 1,284 2,354
Accrued registration rights penalty 156,000 156,000
Accrued expenses and other current
liabilities 309,434 108,326
Notes Payable - Current Portion 47,342 9,714
Warrant liability 30,838,629 4,117,988
------------- -------------
Total current liabilities 32,737,609 4,907,086

Commitments and contingencies

Stockholders' equity (deficiency):
Preferred stock, $.0001 par value;
10,000,000 shares authorized; no shares
issued and outstanding at December 31,
2011 and March 31, 2011, respectively. -- --
Common stock, $.0001 par value; 750,000,000
shares authorized at December 31, 2011 and
400,000,000 shares authorized at March 31,
2011, respectively, and; 31,970,784 and
10,886,374 issued and outstanding at
December 31, 2011 and March 31, 2011,
respectively. 3,197 1,089
Additional paid-in capital -- 3,460,597
Accumulated deficit (19,464,075) (7,897,323)
------------- -------------
Total stockholders' equity (deficiency) (19,460,878) (4,435,637)
------------- -------------

Total liabilities and stockholders' equity
(deficiency) $ 13,276,731 $ 471,449
============= =============


About As Seen On TV, Inc.
As Seen On TV, Inc. is the parent company of TVGoods, Inc., a direct response marketing company. We identify, develop and market consumer products for global distribution via TV, Internet and retail channels. TVGoods was established by Kevin Harrington, a pioneer of direct response television. For more information go to www.TVGoodsInc.com and www.AsSeenOnTV.com.

Forward-Looking Statements:
Except for statements of historical fact, the matters discussed in this press release are forward-looking and made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "future," "plan" or "planned," "expects," or "projected." These forward-looking statements reflect numerous assumptions and involve a variety of risks and uncertainties, many of which are beyond the company's control that may cause actual results to differ materially from stated expectations. These risk factors include, among others, limited operating history, difficulty in identifying and marketing products, intense competition and additional risks factors as discussed in reports filed by the company with the Securities and Exchange Commission, which are available at http://www.sec.gov.

Contact Information:
Steven Hart
Corporate Strategy & Development
[e-mail]
917-658-7878