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Actiga Announces 2007 Financial Results
BusinessWire - April 02, 2008 3:38 PM ET

Actiga Corporation (OTCBB:AGAC), a leading pioneer in active video gaming products and services, today announced financial results for the full year 2007.

Net sales for the full year 2007 were $1.3 million compared with $150,065 in 2006 as the company continued to expand its retail distribution network. Total operating expenses for 2007 were $1.9 million compared with $1.3 million in 2006. This increase is primarily due to increases in selling, general and administrative expenses. Net loss for 2007 was $2.0 million, or a loss $13,942 per share, compared with a net loss $1.6 million, or $11,236 per share, for the year ended December 31, 2006. At year-end, the company had approximately 145 weighted average shares outstanding versus 140 shares outstanding at the end of 2006.

"2007 was a pivotal year for Actiga as we set the stage for building the company in preparation for its next phase of growth in the active gaming market," said Amro Albanna, chairman and CEO of Actiga. "The video game market continues to experience explosive growth, and we expect to capture an enviable share of this market as we increase our marketing and operating focus on the introduction of new products and services that engage players through motion-sensing controllers and high impact 3D browser-based games and products."

Actiga completed its merger with Qmotions, Inc., a global developer and marketer of PC/Console-based and online active game technologies that deliver "full-motion" participation in video games, in January 2008. As part of the transaction, Actiga acquired all of the issued and outstanding common shares of Qmotions in exchange for 25,230,000 shares of Actiga common stock.

The demand for motion-based video games was a major growth driver for the gaming industry in 2007. According to NPD Group, more than 16.1 million Nintendo Wii consoles were sold worldwide, making it the world's highest selling gaming console in 2007. Actiga believes it is establishing a strong position to capture a share of the growth in active gaming by introducing new products and services that address the needs of both hardcore and casuals gamers alike. The company believes its proprietary active game technology, strong IP position, multiple distribution channels, and experienced leadership team position it for long term growth.

About Actiga

Actiga Corporation is a leading pioneer in active gaming. The company's mission is to empower users to enjoy real-life, natural motion game play controllers that provide access to revolutionary downloadable 3D games and PC/Console-based video games. The company is committed to bringing to market a portfolio of online and PC/Console gaming products and services through its family of companies. For additional information, visit http://www.actiga.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 about Actiga Corporation. Forward-looking statements are statements that are not historical facts. Such forward-looking statements, including, but not limited to, the continued growth in the active gaming market, are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statement. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statement: the ability of the company to successfully integrate wireless technology into its products; a delay in the timing of the launch of new products; general economic conditions; geopolitical events and regulatory changes; requirements or changes adversely affecting the businesses in which Actiga is engaged; demand for the products and services that Actiga provides. Actiga assumes no obligation to update the information in this press release.

SOURCE: Actiga Corporation

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