Globe Photos Inc (fka GBPT)

[Clearwater Rich]

QTR 1-08 is out.

Report is posted on Petel's web site, and can be found in the IR and News sections.
Of note is the dilution of the outstanding shares and float, sale of about 9mm shares as 504's, and the exchange of $187,500 in salaries due Morton and Evans each into 6.25mm shares each (valued at .03/ share).
Good news going forward is they took the shares, not the cash raised from the 504 sales. Mgm comments continue to talk about month over month growth in SexQube (revenue up 300% Feb vs. Jan) although sales numbers suggest VOD sales still not where they should be. A new PPV feature could provide a significant boost to the site, if they can get the word out and start drawing in new viewers. No discussion on proposed promo activities- do they have the cash to promo? The 504 sales may explain why there was not much promo activity last fall (the missing 1 Million?)