SOURCE: Pine Ridge Holdings, Inc.

August 08, 2008 10:10 ET

Pine Ridge Holdings -- Secures Private Funding -- Announces Website Traffic

FORT WAYNE, IN--(Marketwire - August 8, 2008) - Pine Ridge Holdings, Inc (PINKSHEETS: PINR) CEO Kevin May announced the company has been able to secure private funding.

May commented, "I am pleased to announce that I have been able to secure enough funding that should get the company through the next several months. My hope is that with the private funds we will be able to get through the holiday season when gift card sales are at their peak."

"Additionally, I am pleased to announce the revenue for Racquet and Fitness clubs for the period ending June 30, 2008 were $248,708 versus $225,791 in 2007. Year to date ending June 30, 2008 was $630,188 in gross revenues versus $575,997, roughly a 9% increase. Historically the last half of the year has been our strongest revenue period, so I am looking forward to what this year may bring," continued May.

May further commented, "ServeNation, LLC was created on May 15 of this year and as with all websites, site traffic is a key. Although the ServeNation valuation is based on revenue, there are some 'hits' elements to it and our ability to show traffic will aid us as we begin to look at banner ad and click through sales on the site. Over the past 30 days, we have had more than 23,000 hits and 4,300 unique visits. 77% of our hits are coming through the 'buttons' that are placed on non-profits, which is about what we expected. After 90 days we are now in the top 2% of websites as it relates to traffic. The importance of understanding our traffic is tied to our desire to begin generating revenue through banner and click through sales," May concluded.

Shareholders are encouraged to visit for informational updates.

This press release contains certain "forward-looking" statements, as defined in the United States Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Statements, which are not historical facts, are forward-looking statements. The Company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessary estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no factors that could cause actual results to differ materially from those estimated by the Company. They include, but are not limited to, the Company's ability to develop operations, the Company's ability to consummate and complete the acquisition, the Company's access to future capital, the successful integration of acquired companies, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition, sales and other factors that may be identified from time to time in the Company's public announcements.

Contact Information

    Kevin May