SOURCE: Hot Web, Inc

August 13, 2007 08:45 ET

Hot Web, Inc. Announces Unaudited Financial Results for First Six Months of 2007

BOISE, ID--(Marketwire - August 13, 2007) - Hot Web, Inc. (PINKSHEETS: HWBI) today announced the Company's unaudited financial results for the first half of fiscal 2007. Reported financial results represent consolidated revenues from all Hot Web businesses for the period beginning January 1st, 2007 through June 30th, 2007.

For the first six months of the current fiscal year, Hot Web, Inc posted unaudited revenues of $1,222,058.00 USD, or $.005 per common share. For the same period, the Company posted a modest net loss of $96,899.00 USD, or $.00039 per share.

George Stevens, Chairman of Hot Web, Inc., stated, "We have aggregated the financial results for the first six months of 2007 in order to file an update 15c-211 information statement in the third quarter. While an OTCBB listing clearly isn't in our immediate future, we ardently believe in communicating our financial results to our shareholders and creating an environment of transparency for the future, and as such will begin voluntarily filing our financial information with pink sheets until such time as the Company can justify the additional monetary burden associated with Sarbanes Oxley compliance and OTCBB listing." Stevens continued, "We have seen two record breaking months of listings in less than 90 days. While system-wide listings totaled $1.76 Million in May, they were dwarfed by July's listings of $3.66 Million, a 100%+ increase. The trend certainly seems to be going in the direction we have worked very hard to bring about. We are already seeing some of our week-old boat listings starting to sell, with a 2004 Carrera 'Party Effect' selling for over $45,000.00 USD alone. Additionally, we have not even begun to discuss RV listings, which beginning to show signs of significant growth. We are pleased with the results for the first 6 months of the year and, given the precipitous increase in business momentum over the past several months, anticipate increasing top and bottom line numbers to close out 2007."

About Hot Web, Inc.

Hot Web, Inc. is engaged in the business of consigning "big ticket" transportation related items through its diversified presences, both online and offline. The Company's mission is to "change the way the world buys and/or bids online" by harnessing the power of the Internet and coupling it with human interaction and expertise to create a safe, productive, comfortable and 'Fraud Free' way to conduct online/offline commerce. The company utilizes both its internal certified regional representative base in addition to online third-party marketing tools like eBay Motors (NYSE) and others to attract and market vehicle listings.

The Company's current portfolio of niche-focused online businesses consists of www.hotautoweb.com, www.hotboatweb.com, www.hotcycleweb.com, www.hotrvweb.com and www.hotplaneweb.com. The company is also currently developing other Hot Web branded online business units to complement its current roster.

Safe Harbor

This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Hot Web, Inc., and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.

Contact Information

  • FOR FURTHER INFORMATION, investors are asked to visit the Company's website
    at www.hotwebinc.com.

    Or Contact Investor Relations:

    Matthew Lovito
    Brass Bulls Corp.
    1-866-342-2700