Modavox today reported their financials for the nine months ended November 30, 2007. Revenues for the nine months totaled $2,531,779, a 26.6% increase above the $2,000,255 generated during the same period of 2006.
Modavox CEO David J. Ide commented, “This past quarter was a transitional one for our company, one in which we continued and accelerated our investment in the defense of our intellectual property, while making significant improvements in our ability to apply our patented technologies in key identified industry verticals.”
“Our market leadership in Internet talk radio is now vastly improved through our advancements in our patented BoomBox Radio(TM) platform, that includes FLASH streaming integration and development of next generation listener and talk show host environments. We’ve created new audience building distribution for our talk radio content through syndication to terrestrial radio stations, global cellular networks, and RSS feeds now present on our networks,” he added.
He continued to say, “We continue to pursue highly targeted niche advertising opportunities existing in many communities created by our hosts, and in step with our continued audience growth, we are well positioned to capitalize on new media advertising growth trends. Collectively, we have established the foundation to now support a more scalable advertising and sponsorship revenue component in our Internet Radio Division.”
In a concluding statement the CEO stated, “We continue to remain focused on executing our business plan, believing our fourth quarter results should provide clear evidence of our continuing commitment to build shareholder value.”
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