ViaVid Broadcasting Inc.
OTC Bulletin Board : VVDB

ViaVid Broadcasting Inc.

August 16, 2005 12:14 ET

ViaVid Broadcasting Reports Fiscal 2006 First Quarter Results

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 16, 2005) - ViaVid Broadcasting Inc. (OTCBB:VVDB), a provider of teleconferencing, web conferencing, transcription and support services, has announced its first quarter results for the three month period ending June 30, 2005.

For the quarter ended June 30, 2005, revenues were $318,176, compared to $223,415 in the comparable period of the previous year. On an annual basis, revenues increased 42% for the quarter. Sequential quarterly revenues in the quarter ended June 30, 2005 increased by 12% from $284,153 in the fourth quarter to $318,176 in the first quarter. This is the fifteenth quarter of sequential revenue growth

Net loss for the quarter was $(14,656), or ($0.00) per share, compared to $(41,623), or ($0.00) per share, in the same quarter last year.

For the quarter ended June 30, 2005, our operating expenses were $332,832, compared to 265,038 in the comparable period of the previous year. The increase in total operating expenses is due to the additional consultants, staff and outside services required for the increased workload.

Cash and receivables at June 30, 2005 were $319,357, while Accounts Payable and accrued liabilities were at $287,324.

Cautionary Statement: This press release includes "forward-looking statements" as defined under the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended, that involve risks and uncertainties. Forward-looking statements made herein and elsewhere concerning VIAVID include, but are not limited to, our plans and objectives for our future operations, including plans or objectives relating to our services, our plans and objectives regarding revenues and expenses in future periods, our needs for capital expenditures, our ability to maintain our competitive position, our plans and objectives and needs to raise additional capital, the terms on which such capital can be raised, the period over which any capital available currently to us or raised in the future will be sufficient to meet our current or future levels of operating and other expenses, and our plans regarding the uses of that capital, as well as any other prospective financial information concerning us. We cannot assure you that we will be successful in growing our user and customer base as we plan, attracting companies to use our Internet-based communication services for the dissemination of their news information, realizing material amounts of webcasting or other revenues, achieving any commercial advantage relative to other financial news dissemination media companies or raising the additional capital required to support our operations or the terms and conditions on which such capital can be raised. If our assumptions are incorrect or our webcasting or other growth plans or plans to realize revenues or raise additional capital fail to materialize, we may be unsuccessful in developing as a viable business enterprise. Under such circumstance your entire investment will be in jeopardy and may be lost. Our business plan has evolved over time, and we expect that our plans will evolve further in the future. We caution you that various risk factors relating to our forward looking statements are described, among other places, in our Annual Reports on Form 10K-SB, Quarterly Reports on Form 10-QSB, and our Current Reports on Form 8-K. These risk factors could cause our operating results, financial condition and ability to fulfill our plans to differ materially from those expressed in any forward-looking statements made in this press release and could adversely affect our financial condition and our ability to pursue our business strategy and plans.

(Expressed in United States Dollars)
Three Months Three Months
Ended June 30, Ended June 30,
2005 2004

Teleconferencing, webcasting
and transcription income $ 318,176 $ 223,415

Amortization 5,094 5,244
Conference calls 143,064 111,568
Consulting 82,361 68,257
Interest - 1,180
Office and miscellaneous 63,379 40,376
Professional fees 13,419 15,221
Rent 8,440 3,678
Salaries and benefits 15,791 19,410
Travel and promotion 1,284 104

332,832 265,038

Loss before other items (14,656) (41,623)

Loss on sale of property
and equipment - (448)
Interest income 218 32

Net loss (14,438) $ (42,039)

Other comprehensive income 5,782 11,441

Comprehensive loss $ ( 8,656) $ (30,598)

Basic and diluted loss
per common share $ (0.00) $ (0.00)

Weighted average number of
shares of common stock
outstanding 14,988,000 14,207,065

Contact Information

  • ViaVid Broadcasting Inc.
    Bob Gamon