posted
Salon City, Inc. Completes Final Draft of Audit Thursday June 28, 9:30 am ET Form 10-SB SEC Financial Report Now in Review
WEST HOLLYWOOD, Calif.--(BUSINESS WIRE)--Salon City, Inc. (OTC:SLON - News) reported today that independent auditors Lake and Associates LLC have now completed the "final draft" of SCI's audited financials and that the draft is being reviewed before Lake's projected official signing and submission. The necessary documentation is a vital part of Salon City's Form 10-SB filing with the SEC to be uplisted to the Over-The-Counter Bulletin Board. ADVERTISEMENT
Steven Casciola, SCI's President and CEO, gave an update and commented on SLON's investor interest in the pending announcement, "Today, we can report that all systems are go; the audited financials are done, the numbers look okay and our accounting team is reviewing the final draft. Lake and Associates have done a thorough job of preparing their SEC documentation. We will submit to the SEC with absolute disclosure and compliance to their regulation requirements."
Casciola also noted, "We are also pleased to see how well our team responded to this type of heightened financial transparency. The cooperation among all involved has been positive, efficient and professional. Overall, the experience of working with independent auditors has produced a new level of confidence and signals that we are ready to assume the ongoing responsibilities of being a fully reporting, publicly traded company. We look forward to elevating our exposure and status with the investment community at large."
Salon City Magazine, America's newest lifestyle publication published by Salon City, Inc., is now nationally distributed by Time Warner Retail, a Time Warner Company (NYSE:TWX - News), and internationally by Kable News Distribution, an AmRep company (NYSE:AXR - News), in more than 30 countries around the world.
For information on the Company, visit www.saloncity.com or send an email to our Investors Relations Department at info*saloncity.com.
Certain information contained in these materials is "forward-looking" information, such as projections, estimates, pro formas, or statements of intentions, expectations or plans. All forward-looking information is subject to known and unknown risks and uncertainties, many of which are outside of the control of the Company. Consequently, actual results may, and probably will, differ materially from the results contemplated in such forward-looking information.
Contact: Salon City, Inc. Steven G. Casciola, President and CEO, 310-402-2819 Janis Hashe, Corporate Communications, 423-622-2862
-------------------------------------------------------------------------------- Source: Salon City, Inc.
-------------------- *I'm not a financial expert or advisor, everything stated is my opinion* Posts: 1680 | From: NC | Registered: Jan 2006
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posted
.10 isnt a short term price. This company has a product, has a deal with TIME WARNER, working on new revenue generating website, is about to uplist off the pinkies. No dilution. This one is gonna make me some nice cash, oh wait it already has.
-------------------- *I'm not a financial expert or advisor, everything stated is my opinion* Posts: 1680 | From: NC | Registered: Jan 2006
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posted
hehe, this one did seem like a no-brainer, lol Just wish I put all I had in this at the beginning, hehe
Posts: 14 | Registered: Jun 2007
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quote:Originally posted by flanders1114: Posted by: Jibby In reply to: None Date:6/28/2007 3:15:50 PM Post #of 1521
Don't forget CC today info listed in IBOX this company is the real deal and have a CC every thursday
CC's are actually pretty informative, they range anywhere from 20-45 minutes depending on how many questions people have...If you are considering holding a portion of your position long, I would certainly consider listening in on one and asking any questions you may have...GLTY
Posts: 2383 | Registered: Apr 2006
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I told you guys to buy this mess at .012ish and nobody listened =(
But hey you can still get in! I think anything under .05 is a steal!
Uplisting news should come in VERY SOON! Also a huge marketing campaign for the magazine is starting July 1st in Toronto, LAX and La Guardia. New revenue generating website is coming in the fall and the big ad season for magazines start in July!
Steve said in the CC that Salon City is now on sale at ALL Barnes and nobles, ALL borders, ALL waldenbooks and is also available at some books-a-million, kmart, target and rite aid!
SLON just released there THIRD magazine. This is still just a baby people!
-------------------- *I'm not a financial expert or advisor, everything stated is my opinion* Posts: 1680 | From: NC | Registered: Jan 2006
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quote:Originally posted by SuperSniper00: WOOOOOOOT!!
Is that the sounds it makes when someone toot's their own horn Nice call SS, I listened, didn't quite make it in at .012 but close enough to be very happy right now.
-------------------- If ignorance is bliss, why aren't more people happy? Posts: 2647 | From: MN | Registered: Feb 2006
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quote:Originally posted by SuperSniper00: WOOOOOOOT!!
Is that the sounds it makes when someone toot's their own horn Nice call SS, I listened, didn't quite make it in at .012 but close enough to be very happy right now.
I just want to make you all some money. I havent been so excited about a stock in a long time, I dont think ive been this excited ever lol
-------------------- *I'm not a financial expert or advisor, everything stated is my opinion* Posts: 1680 | From: NC | Registered: Jan 2006
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posted
Salon City, Inc. Increases Revenue Forecast for 2008 Friday June 29, 9:30 am ET Salon City Magazine and SalonCity.com Lead Way in Attracting New Advertisers and Buyers
WEST HOLLYWOOD, Calif.--(BUSINESS WIRE)--Salon City, Inc.'s (OTC:SLON - News) president and CEO Steven Casciola announced during his national weekly conference call yesterday that Salon City is forecasting strong increases in ad revenue and that SCI expects a positive response at the opening of the 2008 media buying season, beginning July and continuing through fall. ADVERTISEMENT
Casciola told listeners, "Last summer, we went into the season without our new book, look, circulation and distribution in place. As a result, we were unable to sell to larger agencies who work with ad clients wanting to reach Salon City's affluent readership. This season, we're ready. We're scheduling media presentations with leading advertisers and for the first time, we can offer global branding exposure, at highly competitive pricing, oftentimes 10% of what they would pay to be on the same newsstand with another publication."
Salon City has the added benefit of multiple marketing packages that offer print ads, promotional event sponsorships and integrated branding in the all-new SalonCity.com social online network - scheduled to go live this summer and featuring innovative digital content from around the world.
Casciola stated SCI's near-term forecast in clear, simple terms: "For every dollar we spend on printing and distributing a single Salon City copy, we aim to generate $2-$4 or more in revenue. Overhead and staffing costs are relatively fixed and stable, so we intend to maximize profitability based on our projected annual circulation of up to 2 million issues (200,000 copies, distributed 10 times next year)." Casciola concluded, "More issues equal higher ad page rates and increased overall revenue - and that can add millions to the bottom line."
For information on the Company, visit www.saloncity.com or send an email to our Investors Relations Department at info*saloncity.com.
Certain information contained in these materials is "forward-looking" information, such as projections, estimates, pro formas, or statements of intentions, expectations or plans. All forward-looking information is subject to known and unknown risks and uncertainties, many of which are outside of the control of the Company. Consequently, actual results may, and probably will, differ materially from the results contemplated in such forward-looking information.
Contact: Salon City, Inc. Steven G. Casciola, President and CEO 310-402-2819 or Janis Hashe, Corporate Communications 423-622-2862
-------------------------------------------------------------------------------- Source: Salon City, Inc.
-------------------- *I'm not a financial expert or advisor, everything stated is my opinion* Posts: 1680 | From: NC | Registered: Jan 2006
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posted
Well this is how I figure SLONs revenues from my personal projections.
100,000 mags per issue X 10 issues = 1,000,000 mags printed in one year.
1,000,000 x $3.99(price the mag is sold at) = $3,990,000
1,000,000 x $1(cost of slon to print the mag) = $1,000,000
$3,990,000 - $1,000,000 = $2,990,000 in revenue from selling the magazine.
Steve said overhead of operating SLON is appoximately $500,000.
Steve said they do about 45 pages of ads per magazine.
45 ads X $10,000(cost to place an ad) = $450,000 in ad revenue per issue
$450,000 x 10 issues = $4,500,000 annual ad revenue
$2,990,000 + $4,500,000 - $500,000 = $6,990,000 profit from Salon City magazine
This estimate also leaves out possible revenue from the new website that is coming this summer.
SLON launched halfway thru the fiscal year, last year, so revenue of $1.8 million is only half the year. If you slice in half the number I posted above it comes to $3,495,000 for 1/2 year. That means this year SLON will QUADRUPLE its revenue from the previous year.
-------------------- *I'm not a financial expert or advisor, everything stated is my opinion* Posts: 1680 | From: NC | Registered: Jan 2006
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