SOURCE: Web2Corp

April 20, 2007 14:59 ET

Web2Corp WBTO 2006 Earnings Report and Statement

Increased Revenues, Expenses, Investments and Product Lines Equal Outstanding Growth Outlook for 2007

ORLANDO, FL -- (MARKET WIRE) -- April 20, 2007 -- Web2Corp (OTCBB: WBTO) announced today the revenues and losses for fiscal year 2006, which ended on December 31, 2006. Revenues for FY '06 were $527,043, up 91% when compared to revenues from fiscal year 2005 which were $275,412. Net losses used in operating activities were $1,387,241 for the year ended December 31, 2006 compared to $339,566 for the year ended December 31, 2005. Loss was attributable to direct investment in both substantial development and acquisition of new products as well as operations growth/expansion.

"Web2Corp has seen an almost 100 percent increase in revenue over the 2006 fiscal year compared to the 2005 fiscal year," said William Mobley, CEO of Web2Corp. "While that's exciting for us as a company, we've also seen a marked increase in expenditures as well. Over the last year, we've acquired properties and developed more applications which are logical expansions in the market and high exposure consumer goods essential to future revenues and shareholder value. While the expenses increased in 2006, the positive results and benefits are already evident: over the company's last 6 months of activity we have seen many positive new developments.

"ByIndia.com was acquired in July of 2006, and re-launched in October 2006 with popular Web 2.0 updates. It is already India's #1 Indian-centric search engine and social network. The Chamber of E-Commerce was launched in 2006, and the sales force that we're recruiting with the help of Internet Solutions Corp has been driving businesses to join us in increasing numbers. Web1000, our free web site hosting platform, grew over 20%, adding over 100,000+ clients in 2006 and marks its 10th year anniversary in 2007. Web1000 is the second oldest free web host after Yahoo!'s Geocities. We launched AdAgencyPro.com, Web2Corp's total internet advertising solution, in 2006. This list of accomplishments is topped off by the highly anticipated consumer web product, YouGetIt.com, which launches on May 1 of this year. Web2Corp earned an equity stake from development and operations services in these applications, which we provided throughout 2006-2007.

"Web2Corp is gaining recognition as a rapid development firm of Web 2.0 popular technology today, and our popular products that we have launched for anywhere from 1/10th to 1/50th of the cost of the known conglomerates in our space are quickly getting user bases and starting to generate additional revenue for the company."

For more information on Web2Corp or to see Web2Corp's Forward-Looking statements/Safe Harbor Act Disclaimer Notice, go to www.Web2Corp.com.

About Web2Corp:

Web2Corp (OTCBB: WBTO) is one of the world's fastest growing new media Internet conglomerates with properties ChamberEcommerce.com, ByIndia.com, Web1000.com and YouGetIt.com. As a Web 2.0 internet technology development firm it is dedicated to rapid creation and adaptation of technologies. Web2Corp addresses new markets of users by creating and simplifying useful products, reducing the level of user technical skills required, and lowering prices for consumers. Web 2.0 technologies have become increasingly popular, with the use of Web 2.0 applications such as e-commerce or blogs up more than 25% over the last year, according to comScore networks. The Web 2.0 market generates more than 20 billion dollars of revenue a year, with well-known companies like Google.com, Flickr.com, MySpace.com, eBay.com, and Blogger.com making up the majority of the income.

For more information on Web2Corp or to see Web2Corp's Safe Harbor Act Disclaimer Notice, go to www.Web2Corp.com .

Contact Information

  • Contact:

    Trevor Longino
    Communications Director
    Web2Corp
    407.540.0452 (Office)
    321.256.2939 (Direct)