SOURCE: Bark Group Inc.

Bark Group Inc.

January 12, 2011 09:00 ET

Bark Group Inc. Launches Innovative Model for Expanding Worldwide Network With New Agency Partners in 2011

NEW YORK, NY--(Marketwire - January 12, 2011) - Bark Group Inc. (OTCBB: BKPG), an innovative integrated U.S. advertising and performance based marketing company with a multinational client base, today announced its new low-risk acquisition model to expand the Company's international network of multiplatform media and advertising houses.

Shares for Shares -- New Low risk acquisition model
Having reduced its total debt by nearly 80%, from $9 million to $2 million USD, and recorded a net income of $1.5 million for the three months ended September 30, 2010, Bark Group is launching an innovative expansion model in which the Company takes primarily minority equity positions in potential partner agencies, executed through mutually agreed exchanges of shares. This strategy enables local agency partners to enjoy the advantages of independence supported by a listed public company, while creating a vested interest in Bark Group's collective success. Majority positions will be achieved once each agency has proved itself as a successful partner.

Micro-Networks: An effective expansion model
Bark's intent is to develop a distinct, limited range of "micro-networks," in specific disciplines and markets, to meet the demands of certain multinational clients. Bark has identified key geographies for expansion, and will build on the Company's existing exceptional talent in digital and media services to provide its clients with outstanding business and communications solutions in select growth markets and dynamic communications sectors. 

Bark Chairman Lars Thomassen stated, "We are confident about our prospects for 2011. For the industry at large, worldwide advertising investment is expected to grow by nearly 5%, which is double the rate of the previous year. And, within developing markets and specific communications sectors, where Bark will focus in 2011, the growth should be considerably greater."

Mr. Thomassen continued, "Bark concluded 2010 in a newly strengthened position. Our financial situation has improved, our cash flow is stronger, and Company overheads have been reduced to a minimum. In addition, our Swedish media company, Tre Kronor, delivered an exceptional performance and was named Agency of the Year in 2010. We also acquired a 30% interest in the Norwegian media company In-Sight, and opened our first office in Spain, United Media Nations. As we execute our strategy this year, we will continue to provide timely updates on our progress concerning performance, the establishment of new partnerships, and the acquisition of new client businesses."

About Bark Group Inc.
Bark Group Inc. is a pioneering U.S. communications company aiming to create a network of multiplatform media and advertising houses by acquiring profitable and innovative media and advertising companies in order to rapidly expand its presence in the U.S. and Europe. Through its growing network of companies, Bark is adding more competencies and media under one roof, expanding its customer and revenue base and ultimately winning significantly larger international clients.

Forward Looking Statements
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbour provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements; projected events in this press release may not occur due to unforeseen circumstances, various factors, and other risks identified in a company's annual report on Form 10-K and other filings made by such company.

For more information about Bark Group Inc. please email lt@larsthomassen.com or contact Stanley Wunderlich at (800) 625-2236, extension 7770, or info@cfsg1.com.

Contact Information

  • CONTACT:
    Stanley Wunderlich
    Consulting For Strategic Growth 1, Ltd.
    880 Third Ave, 6th Floor
    New York NY 10022
    Telephone: (800) 625-2236 ext. 7770
    e-Fax: (646) 205-7771
    Email: Email Contact