OTC Bulletin Board : CMNN Inc.

April 02, 2007 14:18 ET Inc. Announces Fiscal 2006 Results; Online Fragrance Sales Grow 75% Over 2005

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 2, 2007) - Inc. (OTCBB:CMNN), an emerging growth eCommerce company, today announced results for the fiscal year ended December 31, 2006. All dollar amounts are expressed in USD.

Fiscal 2006 financial highlights and corporate developments include:

- Record revenues of $8,434,468, an increase of 46% over 2005, driven by record Q4 revenues of $3,189,364

- Record eCommerce/product sales of $7,476,203, an increase of 55% over 2005

- Record fragrance sales of $6,885,225, an increase of 75% over 2005

- Net Income of $414,437, or $0.02 per share, an increase of 19% over 2005

- Record year end cash and cash equivalents of $2,105,340, an increase of 21% over 2005

- Company was ranked Canada's 18th fastest-growing company on the 2006 'Profit 100' list by Profit magazine

- Company was ranked B.C.'s 12th fastest-growing company on the 2006 'Fastest 50 in Five' list by Business in Vancouver

- was listed in Internet Retailer magazine's 2006 'Top 500 Guide', the definitive ranking of America's largest web retailers

- received the top overall ranking in a November 2006 web usability study of leading online retail websites, surpassing,, and many others

- launched the highly-improved version 4.0

- Company sold the domain name for $500,000

David Jeffs, President of, stated, "We are pleased with all of our achievements during the past fiscal year. We came just shy of our revenue target for 2006 as a result of being too restrained with our marketing efforts, spending less than five percent of sales on marketing."

"We believe that 2007 will be the most exciting year yet for and its stakeholders. The main thrust of our efforts will be on aggressively expanding the company's eTail revenues and customer list, and we also expect to see some important corporate changes. We are very much encouraged by the fact that eCommerce, now mainstream among U.S. consumers, is expected to continue to grow at a brisk pace over the next several years. We are also pleased about an increasingly strong domain name aftermarket and believe in the great the potential resale value of our raw premium generic dotcom domains."

Fiscal 2007 objectives:

- To focus on significant revenue growth at our eTail and B2B properties

- To intensify customer acquisition efforts at through increased online and offline marketing (with an aim to spend 10% of sales on marketing, up from 4.5% in 2006) to take a bigger piece of an estimated $750 million+ annual online fragrance market and make the best-known fragrance eTailer in the U.S.

- To explore a potential strategic acquisition of, or the building of, a small size distribution center/warehouse in the U.S. to enhance's fulfillment capability and complement its unique virtual inventory system

- To expand sales and marketing efforts at, with a focus on the Asian market, in an effort to increase highly profitable subscription revenues

- To continue to explore the sale of certain web assets that are not integral to our business plan that could generate substantial cash for the company

- To identify additional business opportunities with regards to our list of premium domain names

- To increase market awareness of and establish relationships with a growing number of institutional investors that have expressed interest in the company

- To add eCommerce and finance industry experts to our board of directors's 2006 annual report on Form 10-KSB has been filed with the SEC and is accessible via the investor section of our corporate website, at

About Inc. ( (OTCBB:CMNN) 'Targeted eCommerce Brands' is an emerging growth, debt-free Internet company with a core focus on eTail. owns some of the Internet's most instantly credible and easily remembered brands, including, and, to name just a few. The company's portfolio of intuitively branded B2C and B2B websites naturally attracts a high volume of targeted traffic and potential clients per month, providing it with a crucial competitive advantage in customer acquisition and price. was ranked as Canada's 18th fastest-growing company in 2006 by Profit magazine.

Certain statements contained in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Although Inc. believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from expectations include financial performance, regulatory changes, changes in economic conditions and other risks detailed from time to time in's filings with the U.S. Securities and Exchange Commission. The forward-looking statements included in this press release represent the company's views as of the date of this press release, and the company does not undertake any obligation to update any forward-looking statements.

Contact Information

  • Inc.
    Adam Rabiner
    Vice President, Corporate Relations
    (604) 648-0536 or 1-866-898-4354