SOURCE:, Inc., Inc.

August 31, 2011 17:01 ET Completes Record Setting Quarter: Sequential Revenue Jumps 24% as Debt Falls 67%

TAMPA, FL--(Marketwire - Aug 31, 2011) -, Inc. (PINKSHEETS: SEEK), today announced record setting results for its fiscal third quarter ending today August 31, 2011. Q3 revenue jumped to a record $115,907 from $93,006 during Q2 for an increase of 24%. The Company also announced that it reduced its total debt load by an additional $200,000. During Q3 the Company reduced its total outstanding debt by $2.8 Million, from over $4.1 Million at the beginning of Q3 to under $1.4 Million or 67% at the end of Q3. Founder and CEO Scott Gallagher, commented, "This really was an exciting quarter for us as we made tremendous progress across the board, and the best part is that our results do not include any acquisition related revenue. When the acquisition integration is completed, we're projecting profitable Q4 revenue in the range of $275,000 to $350,000 for a sequential growth rate of well over 100%." Gallagher went on to say, "We expect Q4 to be our fifth consecutive quarter of top-line growth with total 2011 revenue in the range of $500,000 to $600,000 versus 2010 revenue of less than $100,000. Based on our post integration run rate, we expect total 2012 revenue to be in the range of $1.5 to $2 Million with profits in the range of $450,000 to $600,000 with no further acquisitions or significant growth in new categories. We'll be updating our guidance again near the end of Q4."

About, Inc. is a Local Internet media network that owns and operates locally targeted category specific search destinations including several which are leaders in their vertical markets including In addition to the network includes,,, and many others. For more information visit the Company's Investor web site Review the Company's other filings on

Forward-Looking Statements

Certain statements contained herein are "forward-looking" statements (as defined -- Private Securities Litigation Reform Act of 1995)., Inc. cautions that the statements made in this press release constitute forward-looking statements and no guarantees of future performance and actual results or developments may differ materially from projections in forward-looking statements. Forward-looking statements are based on estimates and opinions of management at time the statements are made.

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