Woah! 30Fold expected to grow to 180,000 members in 3 years!!?!? And ValueSetters expects to supply them with over 1,000 products! See below PR from last year. Says they plan to be functional with everything by early November. Seems they're on target...
On top of that, FY revenue expected to be $38 million this year and $72.6 million next!! (Notice the .6... these are intelligent estimates not just numbers they pulled out of a hat.)
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ValueSetters Announces New Sourcing Agreement With Faith-Based Marketing Company and Fiscal Years' 2007 and 2008 Revenue Projections
Phoenix, Arizona--(BUSINESS WIRE)--October 18th, 2006--ValueSetters Inc. (OTC Pink Sheets: VSTR) today announced that it has signed an agreement with an existing Faith-Based marketing company. The company, which has requested their name not be disclosed, has an existing membership of over 7,000 members and is scheduled to grow to 180,000 members within three years. ValueSetters will supply them with over 1,000 items from its Imports, Music, and Fashion Categories. ValueSetters has integrated the Netwire payments processing service into its delivery solution with the marketing company. ValueSetters anticipates presenting the Netwire payments processing service as a valuable benefit to all of its partners and resellers. Netwire is a NetCapital portfolio company
"This transaction will jump start the revenue flow for ValueSetters and although only the faith-based group will be a reseller of ValueSetters, it will give us the buying power of its existing and future members" said Sean Lee CEO of ValueSetters. He also stated that they are in discussions with other affinity groups in order to gain the strength of existing member groups while they build their own reseller base. " We should be functional with this group by early November" Lee stated.
"By integrating the Netwire payments processing system into its core service, ValueSetters once again demonstrates its commitment to providing the critical infrastructure and products needed to help its customers actually do business" said John Fanning the CEO of NetCapital. Mr. Fanning was the founding Chairman and CEO of Napster Inc. Napster was one of the fastest growing sites in internet history.
In addition, ValueSetters today announced their estimate for FY 2007 revenue at $38 Million with EBITDA of $2.1Million and FY 2008 estimated at $72.6 Million revenue with EBITDA of $5.1Million. "These estimates are based on current marketing plans, existing agreements, and discussions currently underway" Mr. Lee stated. ValueSetters fiscal year 2007 ends April 30, 2008.
About ValueSetters Inc.
ValueSetters Inc. (www.valuesetters.com) is an online wholesale distributor linking small, independent retailers with manufacturers and importers of consumer goods. ValueSetters' target market is Non-Store Retailers, Miscellaneous Store Retailers, and Convenience Stores that combined for annual sales of over $790 Billion in 2004(1). The company's mission is to help its member retailers succeed by providing products and support services that enable profitability. ValueSetters is always searching for new vendors and manufacturers to add to its existing selection of over 60,000 products, as well as recruiting resellers of all types and sizes.
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