MediaNet Group Technologies, Inc. (MEDG.OB) Announces First QTR Record Revenues
MediaNet Group, operator of the largest online mall and affinity program platform through its BSP Rewards subsidiary, has released its financial results for the first quarter ending March 31, 2008. The company’s revenue increased significantly with revenues for the first quarter of 2008 increasing by 186% to $493,963 as compared to $172,530 for the first quarter ending March 31, 2007. Other financial highlights for the company include an increase in the number of shares outstanding from 11,836,363 in the prior year period to 19,436,736 at March 31, 2008 due to a private placement of six million shares completed during the…