Protagenic Therapeutics Inc. (PTIX)

[QTRADERQ]

ATRN projected annual revenue is minimum $50 mil because new customer, DirectBuy sales began mid-3Q 2011.

Transactional Service segment revenues increased $4.9 million, or 100%, to $9.8 mil for the three months ended September 30, 2011 from $4.9 million for the three months ended September 30, 2010. Transactional revenue is principally derived from our search marketing agency business, which consists of targeted and measurable online campaigns and programs for advertisers to generate qualified customer leads, sales transactions, or increased brand recognition. The increase in revenue was primarily related to sales volume improvement from existing clients as well as new client acquisitions during the third quarter.The increase was offset by the restructuring of our lead generation business in which we eliminated a number of unprofitable (on a gross margin basis) revenue lines. As a result of this restructuring, the bulk of our Transactional revenue now consists of revenue generated from our search marketing agency business, together with higher yielding marketing campaigns.

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