Science & Technology
Science and Technology
Science and Technology 
Wed, May 18, 2011
Tue, May 17, 2011
TAMPA, Fla.--([ BUSINESS WIRE ])--IO World Media (aIOWorlda or athe Companya) (OTCPK: IWDM) IO World Media reports revenue of $293,152 in the first quarter of 2011 as compared to $181,647 for the same period in 2010 and a net loss of $248,180 as compared to $231,776 for the same period. The Company also reported cash on hand of $761,494 as of March 31, 2011 as compared to $2,057 at the end of the same period in 2010.
"We are pleased with our results from operation in the first quarter due to the fact that we have seen a significant increase in revenue from both subscription and advertising sales"
aWe are pleased with our results from operation in the first quarter due to the fact that we have seen a significant increase in revenue from both subscription and advertising sales,a said Thomas Bean, CEO of IO World Media. aFurther, we have worked diligently to control cost while continuing to improve not only the products that we deliver but our delivery platform as well.a
It is important to note that the revenue results reported in the first quarter do not reflect revenue that was received during the very successful launch of RadioioLive and the Early Enlistment Program for the Bubba Army. This program was still in the promotional phase during the quarter and the revenue will be recognized over the three-year life of the Early Enlistment subscriptions in accordance with GAAP.
Certain statements in this release could constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Except as otherwise stated in this news announcement, IO World Media, Inc. does not undertake any obligation to publicly update or revise any forward-looking statements because of new information or future events.