AI
Monday, August 26, 2013 1:37:17 PM
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Accelerize New Media, Inc. Reports Second Quarter 2013 Financial Results
Second Quarter Revenues Increased 75% Year Over Year to a Record $2,259,395, as Management Accelerates Investment in R&D and Sales Force
NEWPORT BEACH, CA -- (Marketwired) -- 08/13/13 -- Accelerize New Media, Inc. (OTCBB: ACLZ), owner and operator of CAKE, a highly-scalable enterprise Software-as-a-Service (SaaS) platform providing business intelligence to performance-based marketers -- from acquisition to conversion, today announced financial results for its fiscal second quarter ended June 30, 2013.
"New client additions and increased usage by existing clients led to another record quarter of revenue growth," said Brian Ross, Accelerize New Media, Inc. Chairman and CEO. "Our strong reputation and commitment to R&D excellence has enabled us to attract and hire top industry talent, while we continue to evaluate strategic alternatives to maximize shareholder value. We are confident that these R&D investments and sales force additions will result in ongoing market share gains, as the advertising industry embraces online performance-based marketing."
Financial Highlights for Q2 2013 vs. Q2 2012
Revenues: Total revenues for the quarter increased 75% from $1,294,720 to $2,259,395 year over year, driven by a 65% increase in the average number of clients and a 6% increase in the average monthly fee per client. We expect future revenues to be driven by organic growth, international expansion, and increased sales efforts.
Income from Continuing Operations: Despite a 33% quarterly increase in research and development and a 114% quarterly increase in SG&A expenses due to new sales hires to support our anticipated growth, we realized a positive income from continuing operations for the period of $20,177, compared to $21,752 a year ago. We anticipate income from continuing operations to improve as these R&D and SG&A investments begin to pay off later this year.
Balance Sheet: Cash and cash equivalents for the quarter increased from $45,040 to $906,640 year over year, and our working capital, which is $1,357,275 as of June 30, 2013, provides us with greater flexibility to invest in research and development and expand our sales force both domestically and internationally. We strive to maintain a balanced capital structure to support consistent long-term growth.
About Accelerize New Media, Inc.
Accelerize New Media, Inc. owns and operates CAKE, an enterprise SaaS (Software-as-a-Service) platform providing business intelligence to performance-based marketers from acquisition to conversion. With an easy-to-use interface and real-time reporting, performance-based marketers can quickly setup, manage, and optimize their campaigns. Seamless integration with external services through a robust API provides clients with a single dashboard that helps increase revenues, lower operational costs, and improve the ROIs of their campaigns.
ACCELERIZE NEW MEDIA, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
June 30, December 31,
ASSETS 2013 2012
------------- -------------
(Unaudited) (1)
Current Assets:
Cash $ 906,640 $ 231,926
Accounts receivable, net 869,140 673,818
Other assets 100,517 42,783
------------- -------------
Total current assets 1,876,297 948,527
Property and equipment, net 90,876 52,297
Note receivable, net - 88,000
------------- -------------
Total assets $ 1,967,173 $ 1,088,824
============= =============
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
Accounts payable and accrued expenses $ 241,704 $ 284,526
Deferred revenues 51,255 24,616
Convertible notes payable and notes payable 226,063 299,325
------------- -------------
Total current liabilities 519,022 608,467
Total stockholders' equity 1,448,151 480,357
------------- -------------
Total liabilities and stockholders' equity $ 1,967,173 $ 1,088,824
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(1) Derived from audited financial statements
ACCELERIZE NEW MEDIA, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
Three-month periods ended Six-month periods ended
June 30, June 30,
------------------------ ------------------------
2013 2012 2013 2012
----------- ----------- ----------- -----------
(Unaudited) (Unaudited) (Unaudited) (Unaudited)
Revenues: $ 2,259,395 $ 1,294,720 $ 4,422,802 $ 2,343,085
Operating expenses:
Cost of revenue 328,296 235,124 635,280 368,526
Research and
development 365,075 274,975 678,698 495,879
Selling, general and
administrative 1,532,430 717,161 2,895,053 1,586,867
----------- ----------- ----------- -----------
Total operating
expenses 2,225,801 1,227,260 4,209,031 2,451,272
----------- ----------- ----------- -----------
Operating income
(loss) 33,594 67,460 213,771 (108,187)
Other expenses (13,417) (45,708) (18,376) (99,088)
----------- ----------- ----------- -----------
Income (loss) from
continuing operations 20,177 21,752 195,395 (207,275)
Income (loss) from
discontinued
operations, net 38,611 27,444 100,361 (28,518)
Net income (loss) 58,788 49,196 295,756 (235,793)
Less dividends series A
and B preferred stock - - - 83,232
----------- ----------- ----------- -----------
Net income (loss)
attributable to common
stock $ 58,788 $ 49,196 $ 295,756 $ (152,561)
=========== =========== =========== ===========
Earnings per share:
Basic
Continuing operations $ 0.00 $ 0.00 $ 0.00 $ (0.00)
Discontinued
operations $ 0.00 $ 0.00 $ 0.00 $ (0.00)
----------- ----------- ----------- -----------
Net income (loss) per
share $ 0.00 $ 0.00 $ 0.01 $ (0.00)
=========== =========== =========== ===========
Diluted
Continuing operations $ 0.00 $ 0.00 $ 0.00 $ (0.00)
Discontinued
operations $ 0.00 $ 0.00 $ 0.00 $ (0.00)
----------- ----------- ----------- -----------
Net income (loss) per
share $ 0.00 $ 0.00 $ 0.00 $ (0.00)
=========== =========== =========== ===========
Basic weighted average
common shares
outstanding 56,644,643 55,719,575 56,337,069 48,923,639
=========== =========== =========== ===========
Diluted weighted average
common shares
outstanding 75,346,900 61,587,751 72,369,773 48,923,639
=========== =========== =========== ===========
ACCELERIZE NEW MEDIA, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
Six-month periods ended
June 30,
--------------------------
2013 2012
------------ ------------
(Unaudited) (Unaudited)
Cash flows from operating activities:
Net income (loss) from continuing operations $ 195,395 $ (207,275)
Adjustments to reconcile net loss from
continuing operations to net cash provided by
operating activities: 412,477 132,539
Changes in operating assets and liabilities: (277,344) 64,778
------------ ------------
Net cash provided by (used in) continuing
operations 330,528 (9,958)
Net cash provided by discontinued operations - 15,383
------------ ------------
Net cash provided by operating activities 330,528 5,425
------------ ------------
Net cash provided by (used in) investing
activities 13,584 (11,022)
------------ ------------
Cash flows provided by (used in) financing
activities:
Principal repayments on notes payable (90,000) (180,000)
Proceeds from exercise of warrants and options 421,996 125,887
------------ ------------
Net cash provided by (used in) financing
activities 331,996 (54,113)
------------ ------------
Effect of exchange rate changes on cash (1,394) -
------------ ------------
Net increase (decrease) in cash 674,714 (59,710)
Cash, beginning of period 231,926 104,750
------------ ------------
Cash, end of period $ 906,640 $ 45,040
============ ============
Contact:
Brian Ross
Chairman & CEO
(310) 710-0578
Email Contact
www.accelerizenewmedia.com
=============================================================
Accelerize New Media Inc. Reports First Quarter 2013 Financial Results
First Quarter Revenues Jumped 106% Year Over Year to a Record $2,163,407, While Net Income From Continuing Operations Reached $175,218
NEWPORT BEACH, CA -- (Marketwired) -- 05/14/13 -- Accelerize New Media Inc. (OTCBB: ACLZ), owner and operator of Cake Marketing (www.cakemarketing.com), a highly scalable SaaS (Software-as-a-Service) platform providing a comprehensive and complete online tracking solution for advertisers -- from acquisition through conversion, today announced financial results for its fiscal first quarter ended March 31, 2013.
"Robust demand for the Cake Marketing platform led to a strong performance and start to 2013," said Accelerize New Media Inc. Chairman & CEO Brian Ross. "We are well positioned to grow revenues as brand advertisers and performance based marketers continue to adopt our technology, while utilizing our improved cash flows from operations have enabled us to accelerate sales and marketing initiatives and invest in product innovation."
Financial Highlights for Q1 2013 vs Q1 2012
Revenues: Total revenues increased 106% from $1,048,365 to $2,163,407 year over year, driven by a 75% increase in the average number of clients and an 18% increase in the average usage fees earned per client. We expect future revenues to be driven by ongoing organic growth, international expansion, and increased sales efforts.
Operating Income: Operating income reached $180,177, compared to an operating loss of $(175,647) year over year, due to higher revenues and contained expenses. We plan to continue managing our costs and scaling revenues to improve operating margins.
Net Income from Continuing Operations: Net income from continuing operations increased to $175,218, compared to a net loss of $(229,027) during the prior year period, due to growing revenues from a greater number of clients and higher average usage fees earned per client, as well as controlled expenses.
Cash Flow: Cash provided by continuing operations increased to $58,847, compared to net cash used in continuing operations of $(49,622) during the prior year period. The company invested $313,623 in ongoing research and development, and total operating expenses increased 62% to $1,983,230 to support our growth. Free cash flow, which amounts to cash flow from operations less capital expenditures, totaled $72,791.
About Accelerize New Media Inc.
Accelerize New Media, Inc. owns and operates Cake Marketing, a highly scalable SaaS (Software-as-a-Service) platform providing a comprehensive and complete online tracking solution for advertisers -- from acquisition through conversion. Easy-to-use wizards and real-time reporting guide users through every step of managing and optimizing campaigns. From traffic providers to advertisers, tracking to data distribution, Cake Marketing offers the most robust platform to manage your business and analyze the performance of your marketing relationships. Seamless integration with other services through a developed API eliminates bottlenecks while increasing ROI for advertisers.
ACCELERIZE NEW MEDIA INC. CONSOLIDATED BALANCE SHEETS
March 31, December 31,
2013 2012
(Unaudited) (Audited)
ASSETS
Current Assets:
Cash $ 357,389 $ 231,926
Accounts receivable, net of allowance for bad
debt of $40,224 and $18,208 838,306 673,818
Prepaid expenses and other assets 50,811 42,783
Total current assets 1,246,506 948,527
Property and equipment, net of accumulated
depreciation of $51,516 and $38,918 87,504 52,297
Note receivable, net of original issuance
discount of $50,111 and $62,000 81,889 88,000
Total assets $ 1,415,899 $ 1,088,824
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
Accounts payable and accrued expenses $ 218,521 $ 284,526
Deferred revenues 10,158 24,616
Convertible notes payable and accrued interest 176,244 176,244
Notes payable and accrued interest, net of debt
discount of $10,647 and $21,293 88,149 123,081
Total current liabilities 493,072 608,467
Stockholders' Equity
Common stock; $.001 par value; 100,000,000 shares
authorized; 56,195,105 and 55,992,605 issued and
outstanding 56,195 55,991
Additional paid-in capital 16,474,040 16,267,461
Accumulated deficit (15,606,12
7) (15,843,095)
Accumulated other comprehensive loss (1,281) 0
Total stockholders equity 922,827 480,357
Total liabilities and stockholders equity $ 1,415,899 $ 1,088,824
ACCELERIZE NEW MEDIA INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
Three-month periods
ended March 31,
2013 2012
(Unaudited) (Unaudited)
Revenue: $ 2,163,407 $ 1,048,365
Operating expenses:
Cost of revenue 306,984 133,402
Research and development 313,623 220,904
Selling, general and administrative 1,362,623 869,706
Total operating expenses 1,983,230 1,224,012
Operating income (loss) 180,177 (175,647)
Other income (expense):
Interest income 13,667 0
Interest expense (18,626) (53,380)
(4,959) (53,380)
Net income (loss) from continuing operations 175,218 (229,027)
Discontinued operations
Loss from discontinued operations 0 (55,962)
Gain from the disposal of discontinued operations 61,750 0
Net income (loss) from discontinued operations 61,750 (55,962)
Net income (loss) 236,968 (284,989)
Less dividends series A and B preferred stock 0 83,232
Net income (loss) attributable to common stock $ 236,968 $ (368,221)
Earnings per share:
Basic
Continuing operations $ 0.00 $ (0.01)
Discontinued operations 0.00 0.00
Net per share $ 0.00 $ (0.01)
Diluted
Continuing operations $ 0.00 $ (0.01)
Discontinued operations 0.00 0.00
Net per share $ 0.00 $ (0.01)
Basic weighted average common shares outstanding 56,158,216 42,139,371
Diluted weighted average common shares outstanding 69,394,505 42,139,371
ACCELERIZE NEW MEDIA INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
Three-month periods
ended March 31,
2013 2012
Cash flows from operating activities: (Unaudited) (Unaudited)
Net income (loss) from continuing operations $ 175,218 $ (229,027)
Adjustments to reconcile net loss to net cash used
in operating activities:
Depreciation and amortization 12,598 5,933
Amortization of debt discount 10,646 50,777
Amortization of original issuance discount (11,889) 0
Fair value of options 125,781 55,840
Changes in operating assets and liabilities:
Accounts receivable (164,488) (34,130)
Prepaid expenses 22 (15,745)
Other assets (8,315) (7,000)
Accrued interest (578) 196
Accounts payable and accrued expenses (65,690) 159,617
Deferred revenues (14,458) (36,083)
Net cash provided by (used in) continuing
operations 58,847 (49,622)
Net cash provided by (used in) discontinued
operations 61,750 (9,850)
Net cash provided by (used in) operating
activities 120,597 (59,472)
Cash flows used in investing activities:
Capital expenditures (47,806) (5,084)
Proceeds from sale of online marketing services
business 18,000 0
Net cash used in investing activities (29,806) (5,084)
Cash flows from financing activities:
Principal repayments on notes payable (45,000) (90,000)
Net proceeds from exercise of warrants 81,000 115,538
Net cash provided by financing activities 36,000 25,538
Effect of exchange rate changes on cash (1,328) 0
Net increase (decrease) in cash 125,463 (39,018)
Cash, beginning of period 231,926 104,750
Cash, end of period $ 357,389 $ 65,732
Supplemental disclosures of cash flow information:
Cash paid for interest $ 5,235 $ 17,912
Cash paid for income taxes $ - $ -
Non-cash investing and financing activities:
Conversion of preferred stock Series A to common
stock $ - $ 322,339
Conversion of preferred stock Series B to common
stock $ - $ 3,565,813
Conversion of note payable to common stock $ - $ 452,500
Preferred stock dividends $ - $ 83,232
Contact Information
Brian Ross
Chairman & CEO
(310) 710-0578
Email Contact
www.accelerizenewmedia.com
=============================================================
Accelerize New Media Inc. Engages SunTrust Robinson Humphrey as Strategic Financial Advisor
Accelerize New Media Inc. Explores Strategic Alternatives to Enhance Shareholder Value
NEWPORT BEACH, CA -- (Marketwired) -- 04/30/13 -- Accelerize New Media Inc. (OTCBB: ACLZ), owner and operator of Cake Marketing (www.cakemarketing.com), a highly scalable SaaS (Software-as-a-Service) platform providing comprehensive and complete online tracking solution for advertisers -- from acquisition through conversion -- today announced the engagement of SunTrust Robinson Humphrey, Inc., the full-service corporate and investment banking arm of SunTrust Banks, Inc. (NYSE: STI), to identify and consider a range of operational, financial, and strategic alternatives.
"Our company's significant growth and market opportunity has put us in a unique position to explore potential transactions to generate shareholder value," said Brian Ross, Chairman and CEO of Accelerize New Media Inc. "Teaming up with a full-service corporate and investment banking firm of SunTrust Robinson Humphrey's caliber is a testament that the company's recurring revenue business model is working and forms a sound base for the future. We look forward to working together with the SunTrust Robinson Humphrey team to identify ways to help fully realize our growth potential while utilizing cash flow to expand our business."
While undertaking this process, the Board and management team will remain highly focused on executing the company's operational plans.
There can be no assurances that the exploration of strategic alternatives will result in a transaction being entered into or consummated.
About SunTrust Robinson Humphrey
SunTrust Robinson Humphrey is the full-service corporate and investment banking arm of SunTrust Banks, Inc. and is headquartered in Atlanta, Georgia. It provides comprehensive capital raising, strategic advisory, risk management, and investment solutions to serve the needs of corporate clients across the nation. It also offers fixed income and equity research and sales and trading for institutional investors.
SunTrust Robinson Humphrey has extensive experience working with public and private companies of all sizes -- from emerging growth to the Fortune 500. While SunTrust Robinson Humphrey offers a complete array of solutions and advice for companies across all industries, it provides in-depth industry expertise and dedicated corporate and investment banking practices for certain core sectors, including business services, financial sponsors, building products, healthcare, consumer and retail, media and communications, energy, transportation, and financial services and technology.
More information on SunTrust Robinson Humphrey can be found at www.suntrustrh.com.
About Accelerize New Media, Inc.
Accelerize New Media, Inc. (OTCBB: ACLZ) owns and operates Cake Marketing, a highly scalable SaaS (Software-as-a-Service) platform providing a comprehensive and complete online tracking solution for advertisers -- from acquisition through conversion. Easy-to-use wizards and real-time reporting guide users through every step of managing and optimizing campaigns. From traffic providers to advertisers, tracking to data distribution, Cake Marketing offers the most robust platform to manage a business and analyze the performance of marketing relationships. Seamless integration with other services through a developed API eliminates bottlenecks while increasing ROI for advertisers.
=================================================
Accelerize New Media, Inc. Reports Record Revenues & Profits in 2012
Company Achieves Full Year Profitability With Triple Digit Revenue Growth in FY 2012
NEWPORT BEACH, CA -- (Marketwire) -- 03/07/13 -- Accelerize New Media Inc. (OTCBB: ACLZ), owner and operator of Cake Marketing(www.cakemarketing.com), a highly scalable SaaS (Software-as-a-Service) platform providing a comprehensive and complete online tracking solution for advertisers -- from acquisition through conversion, today announced financial results for its fiscal year ended December 31, 2012.
"Growing industry demand for our innovative SaaS platform and capitalizing on the true power of our recurring revenue business model enabled Accelerize to achieve its first full year of profitability, with record revenues that grew 146% year over year," said Accelerize New Media Inc. Chairman and CEO Brian Ross. "Given the increased number of new clients and greater usage among existing clients, we fully expect this momentum to continue through 2013 as we continue to scale our business both domestically and internationally."
"Reaching profitability was an important milestone, providing validation for our business model and enabling us to prudently reinvest in R&D and build shareholder value," added Mr. Ross. "With advertisers demanding a measurable return on investment for their marketing initiatives, we are confident that the R&D investments we have made and continue to make will result in ongoing and significant market share gains as the industry embraces performance-based marketing."
Financial Highlights for FY 2012
Revenues: Total revenues increased 146% from $2,363,073 to $5,800,622 year over year, driven organically by a 117% increase in the average number of clients and a 13% increase in the average usage fees charged per client. We expect future revenues to be driven by ongoing organic growth, international expansion, and increased sales efforts.
Operating Income: Operating income reached $380,937, compared to an operating loss of $(853,881) year-over-year, due to higher revenues and contained expenses. We plan to continue managing our costs and scaling revenues to improve operating margins.
Net Income: Net income increased to $492,948, compared to a loss of $(1,177,095), during the prior year period, due to revenues that grew faster than expenses.
Cash Flow: Cash provided by operations increased to $166,059 compared to cash used in operations of $(648,137) a year ago. Approximately $933,034 was invested in research and development. We continued to increase our expenditures to support our additional customers and the scope of our activities, which increased our total operating expenses from $3,216,954 in 2011 to $5,419,685 in 2012. Free cash flow, which amounts to cash flows from operations less capital expenditures, totaled $124,289 for 2012.
About Accelerize New Media, Inc.
Accelerize New Media, Inc. owns and operates Cake Marketing, a highly scalable SaaS (Software-as-a-Service) platform providing a comprehensive and complete online tracking solution for advertisers -- from acquisition through conversion. Easy-to-use wizards and real-time reporting guide users through every step of managing and optimizing campaigns. From traffic providers to advertisers, tracking to data distribution, Cake Marketing offers the most robust platform to manage your business and analyze the performance of your marketing relationships. Seamless integration with other services through a developed API eliminates bottlenecks while increasing ROI for advertisers.
ACCELERIZE NEW MEDIA, INC.
CONDENSED BALANCE SHEETS
December 31, December 31,
ASSETS 2012 2011
------------- -------------
(Unaudited)
Current Assets:
Cash $ 231,926 $ 104,750
Accounts receivable 673,818 357,770
Other assets 42,783 124,521
------------- -------------
Total current assets 948,527 587,041
Property and equipment 52,297 50,447
Other assets 88,000 3,351
------------- -------------
Total assets $ 1,088,824 $ 640,839
============= =============
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
Liabilities:
Accounts payable and accrued expenses $ 284,526 $ 413,322
Other liabilities 24,616 75,242
Convertible notes payable and notes payable 299,325 1,041,590
------------- -------------
Total liabilities 608,467 1,530,154
Total stockholders' equity (deficit) 480,357 (889,315)
------------- -------------
Total liabilities and stockholders' equity
(deficit) $ 1,088,824 $ 640,839
============= =============
ACCELERIZE NEW MEDIA, INC.
CONDENSED STATEMENTS OF OPERATIONS
Years ended
December 31,
----------------------------
2012 2011
------------- -------------
(Unaudited)
Revenue: $ 5,800,622 $ 2,363,073
------------- -------------
Operating expenses 5,419,685 3,216,954
------------- -------------
Operating income (loss) 380,937 (853,881)
------------- -------------
Interest expense, net (165,822) (316,939)
------------- -------------
Net income (loss) from continuing operations 215,115 (1,170,820)
------------- -------------
Net income (loss) from discontinued operations 277,833 (6,275)
------------- -------------
Net income (loss) $ 492,948 $ (1,177,095)
------------- -------------
Less dividends series A and B preferred stock (83,231) (373,842)
------------- -------------
Net income (loss) attributable to common stock $ 409,717 $ (1,550,937)
============= =============
Earnings per share:
Basic
Continuing operations $ 0.00 $ (0.04)
Discontinued operations $ 0.01 $ (0.00)
------------- -------------
Net per share $ 0.01 $ (0.04)
============= =============
Diluted
Continuing operations $ 0.00 $ (0.04)
Discontinued operations $ 0.00 $ (0.00)
------------- -------------
Net per share $ 0.01 $ (0.04)
============= =============
Basic weighted average common shares
outstanding 52,439,242 37,376,270
============= =============
Diluted weighted average common shares
outstanding 59,467,356 37,376,270
============= =============
ACCELERIZE NEW MEDIA, INC.
CONDENSED STATEMENTS OF CASH FLOWS
Years ended
December 31,
----------------------------
2012 2011
------------- -------------
(Unaudited)
Cash flows from operating activities:
Net income (loss) from continuing operations $ 215,115 $ (1,170,820)
Adjustments to reconcile net income (loss)
from continuing operations to net cash
provided by (used in) operating activities:
Depreciation and amortization 144,839 158,397
Fair value of options, warrants, &
inducements 278,487 491,956
Changes in operating assets and liabilities:
Accounts receivable (316,048) (265,299)
Accounts payable and accrued expenses (128,798) 118,329
Other (55,673) 59,699
------------- -------------
Net cash provided by (used in) continuing
operations 137,922 (607,738)
Net cash provided by (used in) discontinued
operations 28,137 (40,399)
------------- -------------
Net cash provided by (used in) operating
activities 166,059 (648,137)
------------- -------------
Cash flows from investing activities:
Proceeds from sale of discontinued
operations 242,000 36,621
Capital expenditures (41,770) (54,963)
------------- -------------
Net cash provided by (used in) investing
activities 200,230 (18,342)
------------- -------------
Cash flows from financing activities:
Proceeds (repayments) from notes payable,
net (365,000) 500,000
Proceeds from exercise of warrants 125,887 199,626
Other - (20,000)
------------- -------------
Net cash (used in) provided by financing
activities (239,113) 679,626
------------- -------------
Net increase in cash 127,176 13,147
Cash, beginning of year 104,750 91,603
------------- -------------
Cash, end of year $ 231,926 $ 104,750
============= =============
Investor Contact
Brian Ross
Chairman & CEO
(310) 710-0578
Email Contact
www.accelerizenewmedia.com
Source: Accelerize New Media, Inc.
Accelerize New Media, Inc. Reports Second Quarter 2013 Financial Results
Second Quarter Revenues Increased 75% Year Over Year to a Record $2,259,395, as Management Accelerates Investment in R&D and Sales Force
NEWPORT BEACH, CA -- (Marketwired) -- 08/13/13 -- Accelerize New Media, Inc. (OTCBB: ACLZ), owner and operator of CAKE, a highly-scalable enterprise Software-as-a-Service (SaaS) platform providing business intelligence to performance-based marketers -- from acquisition to conversion, today announced financial results for its fiscal second quarter ended June 30, 2013.
"New client additions and increased usage by existing clients led to another record quarter of revenue growth," said Brian Ross, Accelerize New Media, Inc. Chairman and CEO. "Our strong reputation and commitment to R&D excellence has enabled us to attract and hire top industry talent, while we continue to evaluate strategic alternatives to maximize shareholder value. We are confident that these R&D investments and sales force additions will result in ongoing market share gains, as the advertising industry embraces online performance-based marketing."
Financial Highlights for Q2 2013 vs. Q2 2012
Revenues: Total revenues for the quarter increased 75% from $1,294,720 to $2,259,395 year over year, driven by a 65% increase in the average number of clients and a 6% increase in the average monthly fee per client. We expect future revenues to be driven by organic growth, international expansion, and increased sales efforts.
Income from Continuing Operations: Despite a 33% quarterly increase in research and development and a 114% quarterly increase in SG&A expenses due to new sales hires to support our anticipated growth, we realized a positive income from continuing operations for the period of $20,177, compared to $21,752 a year ago. We anticipate income from continuing operations to improve as these R&D and SG&A investments begin to pay off later this year.
Balance Sheet: Cash and cash equivalents for the quarter increased from $45,040 to $906,640 year over year, and our working capital, which is $1,357,275 as of June 30, 2013, provides us with greater flexibility to invest in research and development and expand our sales force both domestically and internationally. We strive to maintain a balanced capital structure to support consistent long-term growth.
About Accelerize New Media, Inc.
Accelerize New Media, Inc. owns and operates CAKE, an enterprise SaaS (Software-as-a-Service) platform providing business intelligence to performance-based marketers from acquisition to conversion. With an easy-to-use interface and real-time reporting, performance-based marketers can quickly setup, manage, and optimize their campaigns. Seamless integration with external services through a robust API provides clients with a single dashboard that helps increase revenues, lower operational costs, and improve the ROIs of their campaigns.
ACCELERIZE NEW MEDIA, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
June 30, December 31,
ASSETS 2013 2012
------------- -------------
(Unaudited) (1)
Current Assets:
Cash $ 906,640 $ 231,926
Accounts receivable, net 869,140 673,818
Other assets 100,517 42,783
------------- -------------
Total current assets 1,876,297 948,527
Property and equipment, net 90,876 52,297
Note receivable, net - 88,000
------------- -------------
Total assets $ 1,967,173 $ 1,088,824
============= =============
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
Accounts payable and accrued expenses $ 241,704 $ 284,526
Deferred revenues 51,255 24,616
Convertible notes payable and notes payable 226,063 299,325
------------- -------------
Total current liabilities 519,022 608,467
Total stockholders' equity 1,448,151 480,357
------------- -------------
Total liabilities and stockholders' equity $ 1,967,173 $ 1,088,824
============= =============
(1) Derived from audited financial statements
ACCELERIZE NEW MEDIA, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
Three-month periods ended Six-month periods ended
June 30, June 30,
------------------------ ------------------------
2013 2012 2013 2012
----------- ----------- ----------- -----------
(Unaudited) (Unaudited) (Unaudited) (Unaudited)
Revenues: $ 2,259,395 $ 1,294,720 $ 4,422,802 $ 2,343,085
Operating expenses:
Cost of revenue 328,296 235,124 635,280 368,526
Research and
development 365,075 274,975 678,698 495,879
Selling, general and
administrative 1,532,430 717,161 2,895,053 1,586,867
----------- ----------- ----------- -----------
Total operating
expenses 2,225,801 1,227,260 4,209,031 2,451,272
----------- ----------- ----------- -----------
Operating income
(loss) 33,594 67,460 213,771 (108,187)
Other expenses (13,417) (45,708) (18,376) (99,088)
----------- ----------- ----------- -----------
Income (loss) from
continuing operations 20,177 21,752 195,395 (207,275)
Income (loss) from
discontinued
operations, net 38,611 27,444 100,361 (28,518)
Net income (loss) 58,788 49,196 295,756 (235,793)
Less dividends series A
and B preferred stock - - - 83,232
----------- ----------- ----------- -----------
Net income (loss)
attributable to common
stock $ 58,788 $ 49,196 $ 295,756 $ (152,561)
=========== =========== =========== ===========
Earnings per share:
Basic
Continuing operations $ 0.00 $ 0.00 $ 0.00 $ (0.00)
Discontinued
operations $ 0.00 $ 0.00 $ 0.00 $ (0.00)
----------- ----------- ----------- -----------
Net income (loss) per
share $ 0.00 $ 0.00 $ 0.01 $ (0.00)
=========== =========== =========== ===========
Diluted
Continuing operations $ 0.00 $ 0.00 $ 0.00 $ (0.00)
Discontinued
operations $ 0.00 $ 0.00 $ 0.00 $ (0.00)
----------- ----------- ----------- -----------
Net income (loss) per
share $ 0.00 $ 0.00 $ 0.00 $ (0.00)
=========== =========== =========== ===========
Basic weighted average
common shares
outstanding 56,644,643 55,719,575 56,337,069 48,923,639
=========== =========== =========== ===========
Diluted weighted average
common shares
outstanding 75,346,900 61,587,751 72,369,773 48,923,639
=========== =========== =========== ===========
ACCELERIZE NEW MEDIA, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
Six-month periods ended
June 30,
--------------------------
2013 2012
------------ ------------
(Unaudited) (Unaudited)
Cash flows from operating activities:
Net income (loss) from continuing operations $ 195,395 $ (207,275)
Adjustments to reconcile net loss from
continuing operations to net cash provided by
operating activities: 412,477 132,539
Changes in operating assets and liabilities: (277,344) 64,778
------------ ------------
Net cash provided by (used in) continuing
operations 330,528 (9,958)
Net cash provided by discontinued operations - 15,383
------------ ------------
Net cash provided by operating activities 330,528 5,425
------------ ------------
Net cash provided by (used in) investing
activities 13,584 (11,022)
------------ ------------
Cash flows provided by (used in) financing
activities:
Principal repayments on notes payable (90,000) (180,000)
Proceeds from exercise of warrants and options 421,996 125,887
------------ ------------
Net cash provided by (used in) financing
activities 331,996 (54,113)
------------ ------------
Effect of exchange rate changes on cash (1,394) -
------------ ------------
Net increase (decrease) in cash 674,714 (59,710)
Cash, beginning of period 231,926 104,750
------------ ------------
Cash, end of period $ 906,640 $ 45,040
============ ============
Contact:
Brian Ross
Chairman & CEO
(310) 710-0578
Email Contact
www.accelerizenewmedia.com
=============================================================
Accelerize New Media Inc. Reports First Quarter 2013 Financial Results
First Quarter Revenues Jumped 106% Year Over Year to a Record $2,163,407, While Net Income From Continuing Operations Reached $175,218
NEWPORT BEACH, CA -- (Marketwired) -- 05/14/13 -- Accelerize New Media Inc. (OTCBB: ACLZ), owner and operator of Cake Marketing (www.cakemarketing.com), a highly scalable SaaS (Software-as-a-Service) platform providing a comprehensive and complete online tracking solution for advertisers -- from acquisition through conversion, today announced financial results for its fiscal first quarter ended March 31, 2013.
"Robust demand for the Cake Marketing platform led to a strong performance and start to 2013," said Accelerize New Media Inc. Chairman & CEO Brian Ross. "We are well positioned to grow revenues as brand advertisers and performance based marketers continue to adopt our technology, while utilizing our improved cash flows from operations have enabled us to accelerate sales and marketing initiatives and invest in product innovation."
Financial Highlights for Q1 2013 vs Q1 2012
Revenues: Total revenues increased 106% from $1,048,365 to $2,163,407 year over year, driven by a 75% increase in the average number of clients and an 18% increase in the average usage fees earned per client. We expect future revenues to be driven by ongoing organic growth, international expansion, and increased sales efforts.
Operating Income: Operating income reached $180,177, compared to an operating loss of $(175,647) year over year, due to higher revenues and contained expenses. We plan to continue managing our costs and scaling revenues to improve operating margins.
Net Income from Continuing Operations: Net income from continuing operations increased to $175,218, compared to a net loss of $(229,027) during the prior year period, due to growing revenues from a greater number of clients and higher average usage fees earned per client, as well as controlled expenses.
Cash Flow: Cash provided by continuing operations increased to $58,847, compared to net cash used in continuing operations of $(49,622) during the prior year period. The company invested $313,623 in ongoing research and development, and total operating expenses increased 62% to $1,983,230 to support our growth. Free cash flow, which amounts to cash flow from operations less capital expenditures, totaled $72,791.
About Accelerize New Media Inc.
Accelerize New Media, Inc. owns and operates Cake Marketing, a highly scalable SaaS (Software-as-a-Service) platform providing a comprehensive and complete online tracking solution for advertisers -- from acquisition through conversion. Easy-to-use wizards and real-time reporting guide users through every step of managing and optimizing campaigns. From traffic providers to advertisers, tracking to data distribution, Cake Marketing offers the most robust platform to manage your business and analyze the performance of your marketing relationships. Seamless integration with other services through a developed API eliminates bottlenecks while increasing ROI for advertisers.
ACCELERIZE NEW MEDIA INC. CONSOLIDATED BALANCE SHEETS
March 31, December 31,
2013 2012
(Unaudited) (Audited)
ASSETS
Current Assets:
Cash $ 357,389 $ 231,926
Accounts receivable, net of allowance for bad
debt of $40,224 and $18,208 838,306 673,818
Prepaid expenses and other assets 50,811 42,783
Total current assets 1,246,506 948,527
Property and equipment, net of accumulated
depreciation of $51,516 and $38,918 87,504 52,297
Note receivable, net of original issuance
discount of $50,111 and $62,000 81,889 88,000
Total assets $ 1,415,899 $ 1,088,824
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
Accounts payable and accrued expenses $ 218,521 $ 284,526
Deferred revenues 10,158 24,616
Convertible notes payable and accrued interest 176,244 176,244
Notes payable and accrued interest, net of debt
discount of $10,647 and $21,293 88,149 123,081
Total current liabilities 493,072 608,467
Stockholders' Equity
Common stock; $.001 par value; 100,000,000 shares
authorized; 56,195,105 and 55,992,605 issued and
outstanding 56,195 55,991
Additional paid-in capital 16,474,040 16,267,461
Accumulated deficit (15,606,12
7) (15,843,095)
Accumulated other comprehensive loss (1,281) 0
Total stockholders equity 922,827 480,357
Total liabilities and stockholders equity $ 1,415,899 $ 1,088,824
ACCELERIZE NEW MEDIA INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
Three-month periods
ended March 31,
2013 2012
(Unaudited) (Unaudited)
Revenue: $ 2,163,407 $ 1,048,365
Operating expenses:
Cost of revenue 306,984 133,402
Research and development 313,623 220,904
Selling, general and administrative 1,362,623 869,706
Total operating expenses 1,983,230 1,224,012
Operating income (loss) 180,177 (175,647)
Other income (expense):
Interest income 13,667 0
Interest expense (18,626) (53,380)
(4,959) (53,380)
Net income (loss) from continuing operations 175,218 (229,027)
Discontinued operations
Loss from discontinued operations 0 (55,962)
Gain from the disposal of discontinued operations 61,750 0
Net income (loss) from discontinued operations 61,750 (55,962)
Net income (loss) 236,968 (284,989)
Less dividends series A and B preferred stock 0 83,232
Net income (loss) attributable to common stock $ 236,968 $ (368,221)
Earnings per share:
Basic
Continuing operations $ 0.00 $ (0.01)
Discontinued operations 0.00 0.00
Net per share $ 0.00 $ (0.01)
Diluted
Continuing operations $ 0.00 $ (0.01)
Discontinued operations 0.00 0.00
Net per share $ 0.00 $ (0.01)
Basic weighted average common shares outstanding 56,158,216 42,139,371
Diluted weighted average common shares outstanding 69,394,505 42,139,371
ACCELERIZE NEW MEDIA INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
Three-month periods
ended March 31,
2013 2012
Cash flows from operating activities: (Unaudited) (Unaudited)
Net income (loss) from continuing operations $ 175,218 $ (229,027)
Adjustments to reconcile net loss to net cash used
in operating activities:
Depreciation and amortization 12,598 5,933
Amortization of debt discount 10,646 50,777
Amortization of original issuance discount (11,889) 0
Fair value of options 125,781 55,840
Changes in operating assets and liabilities:
Accounts receivable (164,488) (34,130)
Prepaid expenses 22 (15,745)
Other assets (8,315) (7,000)
Accrued interest (578) 196
Accounts payable and accrued expenses (65,690) 159,617
Deferred revenues (14,458) (36,083)
Net cash provided by (used in) continuing
operations 58,847 (49,622)
Net cash provided by (used in) discontinued
operations 61,750 (9,850)
Net cash provided by (used in) operating
activities 120,597 (59,472)
Cash flows used in investing activities:
Capital expenditures (47,806) (5,084)
Proceeds from sale of online marketing services
business 18,000 0
Net cash used in investing activities (29,806) (5,084)
Cash flows from financing activities:
Principal repayments on notes payable (45,000) (90,000)
Net proceeds from exercise of warrants 81,000 115,538
Net cash provided by financing activities 36,000 25,538
Effect of exchange rate changes on cash (1,328) 0
Net increase (decrease) in cash 125,463 (39,018)
Cash, beginning of period 231,926 104,750
Cash, end of period $ 357,389 $ 65,732
Supplemental disclosures of cash flow information:
Cash paid for interest $ 5,235 $ 17,912
Cash paid for income taxes $ - $ -
Non-cash investing and financing activities:
Conversion of preferred stock Series A to common
stock $ - $ 322,339
Conversion of preferred stock Series B to common
stock $ - $ 3,565,813
Conversion of note payable to common stock $ - $ 452,500
Preferred stock dividends $ - $ 83,232
Contact Information
Brian Ross
Chairman & CEO
(310) 710-0578
Email Contact
www.accelerizenewmedia.com
=============================================================
Accelerize New Media Inc. Engages SunTrust Robinson Humphrey as Strategic Financial Advisor
Accelerize New Media Inc. Explores Strategic Alternatives to Enhance Shareholder Value
NEWPORT BEACH, CA -- (Marketwired) -- 04/30/13 -- Accelerize New Media Inc. (OTCBB: ACLZ), owner and operator of Cake Marketing (www.cakemarketing.com), a highly scalable SaaS (Software-as-a-Service) platform providing comprehensive and complete online tracking solution for advertisers -- from acquisition through conversion -- today announced the engagement of SunTrust Robinson Humphrey, Inc., the full-service corporate and investment banking arm of SunTrust Banks, Inc. (NYSE: STI), to identify and consider a range of operational, financial, and strategic alternatives.
"Our company's significant growth and market opportunity has put us in a unique position to explore potential transactions to generate shareholder value," said Brian Ross, Chairman and CEO of Accelerize New Media Inc. "Teaming up with a full-service corporate and investment banking firm of SunTrust Robinson Humphrey's caliber is a testament that the company's recurring revenue business model is working and forms a sound base for the future. We look forward to working together with the SunTrust Robinson Humphrey team to identify ways to help fully realize our growth potential while utilizing cash flow to expand our business."
While undertaking this process, the Board and management team will remain highly focused on executing the company's operational plans.
There can be no assurances that the exploration of strategic alternatives will result in a transaction being entered into or consummated.
About SunTrust Robinson Humphrey
SunTrust Robinson Humphrey is the full-service corporate and investment banking arm of SunTrust Banks, Inc. and is headquartered in Atlanta, Georgia. It provides comprehensive capital raising, strategic advisory, risk management, and investment solutions to serve the needs of corporate clients across the nation. It also offers fixed income and equity research and sales and trading for institutional investors.
SunTrust Robinson Humphrey has extensive experience working with public and private companies of all sizes -- from emerging growth to the Fortune 500. While SunTrust Robinson Humphrey offers a complete array of solutions and advice for companies across all industries, it provides in-depth industry expertise and dedicated corporate and investment banking practices for certain core sectors, including business services, financial sponsors, building products, healthcare, consumer and retail, media and communications, energy, transportation, and financial services and technology.
More information on SunTrust Robinson Humphrey can be found at www.suntrustrh.com.
About Accelerize New Media, Inc.
Accelerize New Media, Inc. (OTCBB: ACLZ) owns and operates Cake Marketing, a highly scalable SaaS (Software-as-a-Service) platform providing a comprehensive and complete online tracking solution for advertisers -- from acquisition through conversion. Easy-to-use wizards and real-time reporting guide users through every step of managing and optimizing campaigns. From traffic providers to advertisers, tracking to data distribution, Cake Marketing offers the most robust platform to manage a business and analyze the performance of marketing relationships. Seamless integration with other services through a developed API eliminates bottlenecks while increasing ROI for advertisers.
=================================================
Accelerize New Media, Inc. Reports Record Revenues & Profits in 2012
Company Achieves Full Year Profitability With Triple Digit Revenue Growth in FY 2012
NEWPORT BEACH, CA -- (Marketwire) -- 03/07/13 -- Accelerize New Media Inc. (OTCBB: ACLZ), owner and operator of Cake Marketing(www.cakemarketing.com), a highly scalable SaaS (Software-as-a-Service) platform providing a comprehensive and complete online tracking solution for advertisers -- from acquisition through conversion, today announced financial results for its fiscal year ended December 31, 2012.
"Growing industry demand for our innovative SaaS platform and capitalizing on the true power of our recurring revenue business model enabled Accelerize to achieve its first full year of profitability, with record revenues that grew 146% year over year," said Accelerize New Media Inc. Chairman and CEO Brian Ross. "Given the increased number of new clients and greater usage among existing clients, we fully expect this momentum to continue through 2013 as we continue to scale our business both domestically and internationally."
"Reaching profitability was an important milestone, providing validation for our business model and enabling us to prudently reinvest in R&D and build shareholder value," added Mr. Ross. "With advertisers demanding a measurable return on investment for their marketing initiatives, we are confident that the R&D investments we have made and continue to make will result in ongoing and significant market share gains as the industry embraces performance-based marketing."
Financial Highlights for FY 2012
Revenues: Total revenues increased 146% from $2,363,073 to $5,800,622 year over year, driven organically by a 117% increase in the average number of clients and a 13% increase in the average usage fees charged per client. We expect future revenues to be driven by ongoing organic growth, international expansion, and increased sales efforts.
Operating Income: Operating income reached $380,937, compared to an operating loss of $(853,881) year-over-year, due to higher revenues and contained expenses. We plan to continue managing our costs and scaling revenues to improve operating margins.
Net Income: Net income increased to $492,948, compared to a loss of $(1,177,095), during the prior year period, due to revenues that grew faster than expenses.
Cash Flow: Cash provided by operations increased to $166,059 compared to cash used in operations of $(648,137) a year ago. Approximately $933,034 was invested in research and development. We continued to increase our expenditures to support our additional customers and the scope of our activities, which increased our total operating expenses from $3,216,954 in 2011 to $5,419,685 in 2012. Free cash flow, which amounts to cash flows from operations less capital expenditures, totaled $124,289 for 2012.
About Accelerize New Media, Inc.
Accelerize New Media, Inc. owns and operates Cake Marketing, a highly scalable SaaS (Software-as-a-Service) platform providing a comprehensive and complete online tracking solution for advertisers -- from acquisition through conversion. Easy-to-use wizards and real-time reporting guide users through every step of managing and optimizing campaigns. From traffic providers to advertisers, tracking to data distribution, Cake Marketing offers the most robust platform to manage your business and analyze the performance of your marketing relationships. Seamless integration with other services through a developed API eliminates bottlenecks while increasing ROI for advertisers.
ACCELERIZE NEW MEDIA, INC.
CONDENSED BALANCE SHEETS
December 31, December 31,
ASSETS 2012 2011
------------- -------------
(Unaudited)
Current Assets:
Cash $ 231,926 $ 104,750
Accounts receivable 673,818 357,770
Other assets 42,783 124,521
------------- -------------
Total current assets 948,527 587,041
Property and equipment 52,297 50,447
Other assets 88,000 3,351
------------- -------------
Total assets $ 1,088,824 $ 640,839
============= =============
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
Liabilities:
Accounts payable and accrued expenses $ 284,526 $ 413,322
Other liabilities 24,616 75,242
Convertible notes payable and notes payable 299,325 1,041,590
------------- -------------
Total liabilities 608,467 1,530,154
Total stockholders' equity (deficit) 480,357 (889,315)
------------- -------------
Total liabilities and stockholders' equity
(deficit) $ 1,088,824 $ 640,839
============= =============
ACCELERIZE NEW MEDIA, INC.
CONDENSED STATEMENTS OF OPERATIONS
Years ended
December 31,
----------------------------
2012 2011
------------- -------------
(Unaudited)
Revenue: $ 5,800,622 $ 2,363,073
------------- -------------
Operating expenses 5,419,685 3,216,954
------------- -------------
Operating income (loss) 380,937 (853,881)
------------- -------------
Interest expense, net (165,822) (316,939)
------------- -------------
Net income (loss) from continuing operations 215,115 (1,170,820)
------------- -------------
Net income (loss) from discontinued operations 277,833 (6,275)
------------- -------------
Net income (loss) $ 492,948 $ (1,177,095)
------------- -------------
Less dividends series A and B preferred stock (83,231) (373,842)
------------- -------------
Net income (loss) attributable to common stock $ 409,717 $ (1,550,937)
============= =============
Earnings per share:
Basic
Continuing operations $ 0.00 $ (0.04)
Discontinued operations $ 0.01 $ (0.00)
------------- -------------
Net per share $ 0.01 $ (0.04)
============= =============
Diluted
Continuing operations $ 0.00 $ (0.04)
Discontinued operations $ 0.00 $ (0.00)
------------- -------------
Net per share $ 0.01 $ (0.04)
============= =============
Basic weighted average common shares
outstanding 52,439,242 37,376,270
============= =============
Diluted weighted average common shares
outstanding 59,467,356 37,376,270
============= =============
ACCELERIZE NEW MEDIA, INC.
CONDENSED STATEMENTS OF CASH FLOWS
Years ended
December 31,
----------------------------
2012 2011
------------- -------------
(Unaudited)
Cash flows from operating activities:
Net income (loss) from continuing operations $ 215,115 $ (1,170,820)
Adjustments to reconcile net income (loss)
from continuing operations to net cash
provided by (used in) operating activities:
Depreciation and amortization 144,839 158,397
Fair value of options, warrants, &
inducements 278,487 491,956
Changes in operating assets and liabilities:
Accounts receivable (316,048) (265,299)
Accounts payable and accrued expenses (128,798) 118,329
Other (55,673) 59,699
------------- -------------
Net cash provided by (used in) continuing
operations 137,922 (607,738)
Net cash provided by (used in) discontinued
operations 28,137 (40,399)
------------- -------------
Net cash provided by (used in) operating
activities 166,059 (648,137)
------------- -------------
Cash flows from investing activities:
Proceeds from sale of discontinued
operations 242,000 36,621
Capital expenditures (41,770) (54,963)
------------- -------------
Net cash provided by (used in) investing
activities 200,230 (18,342)
------------- -------------
Cash flows from financing activities:
Proceeds (repayments) from notes payable,
net (365,000) 500,000
Proceeds from exercise of warrants 125,887 199,626
Other - (20,000)
------------- -------------
Net cash (used in) provided by financing
activities (239,113) 679,626
------------- -------------
Net increase in cash 127,176 13,147
Cash, beginning of year 104,750 91,603
------------- -------------
Cash, end of year $ 231,926 $ 104,750
============= =============
Investor Contact
Brian Ross
Chairman & CEO
(310) 710-0578
Email Contact
www.accelerizenewmedia.com
Source: Accelerize New Media, Inc.
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