VANCOUVER, March 7 /CNW/ - HealthPricer Interactive Limited (TSX.V ~ HPC)
(or the "Company") a leader in the emerging field of Comparison Shopping for
Personalized Healthcare, today reported its financial results for the 2007FY
third quarter ended December 31, 2006.
- The Company's Comparison Shopping business - www.healthpricer.com -
continues generating increasing commission revenues from facilitating
the sale of Healthcare Products and Services of industry leading
third party online merchants to consumers, in the select healthcare
market verticals of Vitamins & Dietary Supplements, Pharmaceuticals,
Contact Lenses, Medicine Cabinet and Beauty & Hygiene.
- 111% increase in Commission Revenue for the quarter ended
December 31, 2006 to $119,319 from $56,517 for the previous quarter
ended September 30, 2006. Upward growth trend continuing with
approximately $57,000 generated for January 2007 alone.
- 163,000 products from 84 top North American merchants now available
on Healthpricer.com compared to 89,000 products and 70 merchants at
September 30, 2006, and 20,000 products and 45 merchants at June 30,
- 1,000,000th unique visitor arrives at HealthPricer.com in November
2006. As of January 31st, 2007 HealthPricer.com had received over
1,300,000 unique visitors, generating more than 140,000 customer
referrals to merchants.
- HealthPricer launches completely re-designed and re-engineered
version of its website www.healthpricer.com in January 2007.
- Overall, increased revenues and reduced expenses have driven a lower
net loss for the nine months ended December 31, 2006 as compared to
the previous fiscal year.
- For the nine months ended December 31, 2006 a net loss of
$1,241,013 / $0.01 loss per common share was incurred, compared to
$1,519,994 / $0.05 loss per common share for the nine months ended
December 31, 2005 - a reduction of 18%. For the quarter ended
December 31, 2006 a net loss of $461,017 / $0.01 per common share was
incurred compared to a net loss of $399,275 / $0.02 per common share
for the quarter ended December 31st, 2005
- For the nine months ended December 31, 2006, the Company's Comparison
Shopping business recognized commission revenue of $196,687 compared
to $2,232 for the nine months ended December 31, 2005. For the
quarter ended December 31, 2006 the Company recognized commission
revenue of $119,319 compared to $56,517 for the quarter ended
September 30, 2006, an increase of 111%.
- Total expenses of $1,437,700 and $1,492,473 incurred for the nine
months ended December 31, 2006 and 2005, respectively, consisting of
$436,272 (2006FY: $699,990) for general and administration; $616,219
(2006FY: $543,443) for sales and marketing; $371,769 (2006FY:
$150,146) for research and development; $13,440 (2006FY: $11,228) for
amortization and $nil (2006FY: $87,666) for other manufacturing and
Total expenses of $580,336 and $401,507 were incurred for the
quarters ended December 31, 2006 and 2005, respectively, consisting
of $154,302 (2006FY: $221,326) for general and administrative costs;
$264,131 (2006FY: $119,576) for sales and marketing; $156,780
(2006FY: $57,204) for research and development and $5,123 (2006FY:
$3,401) for amortization.
- At December 31, 2006, the Company had cash resources of $189,627 and
continues to raise capital to further support its development of
proprietary technologies, and its sales and marketing efforts as it
accelerates its online comparison shopping business for healthcare
products and services. On January 31, 2007, the Company raised
$762,625 from the issuance of common shares through the exercise of
The initial beta release of HealthPricer.com's Medicine Cabinet and
Beauty Departments were launched in October and November,
respectively. Medicine Cabinet Department comprises 10 product
categories including Allergy & Sinus, Cough, Cold & Flu, Diabetes,
First Aid, Family Planning and Pain Relief. In January 2007 the
Company added 35,000 Personal Care Products to the Beauty Department
and re-named it "Beauty/Hygiene". This combined department has 17
major product categories, including Fragrances, Hair Care, Nail Care,
Make-up, Cosmetic Tools & Accessories, Bath & Shower and Lotions &
Creams. The Company intends to launch additional departments in
Healthpricer.com until it has the most extensive catalogue and
database of Healthcare Products and Services available online in
The Company is developing enhanced end-to-end visitor to product
sales tracking and reporting technologies, next generation product
data collection and normalization technologies and a suite of partner
and affiliate integration and reporting tools. The Company is
utilizing its knowledge base and leveraging its core competencies to
increase the effectiveness of its various traffic generation
strategies including its pay-per-click campaigns (PPC) and search
engine optimization (SEO) strategies to increase organic traffic.
Management believes the biggest boost in traffic can be achieved
through partnering with Healthcare content websites, where it will
provide these partners with a new revenue source derived through
sharing HealthPricer.com revenue from consumer actioning
Healthpricer.com product ads on the partner's website. The Company is
currently pursuing several content partner opportunities.
In summary, Management believes executing its current plan for
HealthPricer.com will continue to drive exponential traffic and
revenue growth and that HealthPricer.com holds promise to
potentially become to Healthcare what Expedia.com is to travel - the
preferred source and online destination for healthcare consumers.
About HealthPricer Interactive
HealthPricer Interactive Limited is a leader in online comparison
shopping for consumer healthcare products. Led by a team of e-commerce
professionals, the Company has applied its proprietary technologies to meet
the needs of North American consumers looking for easy access to a choice of
products and merchants online. Covering 163,000 products from 84 merchants,
HealthPricer.com is the most convenient way for consumers to search for and
perform side-by-side comparison of healthcare products based on price, brand
and other health related attributes. www.healthpricer.com.
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responsibility for the adequacy or accuracy of the content of this news
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