VANCOUVER, Aug. 7 /CNW/ - HealthPricer Interactive Limited (TSX.V ~ HPC)
(or the "Company") a leader in the emerging field of Comparison Shopping for
Personalized Healthcare, has reported its financial results for the year ended
March 31, 2007.
- 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.
- 2,958% increase in Commission Revenue for quarter ended March 31,
2007 to $193,381 from $6,323 for the comparable quarter of year ended
March 31, 2006. This represents a 62% increase over the third quarter
ended December 31, 2006.
- 225,000 products from 88 top North American merchants now available
on Healthpricer.com compared to 20,000 products and 22 merchants at
March 31, 2006
- 164% increase in the average daily unique visitor count, to 5,737 in
March 2007 from 2,173 in March 2006.
- In January 2007 the Company launched a re-designed and re-engineered
version of HealthPricer.com. The re-designed website includes a
completely transformed user experience, navigation system and
numerous new features, including site wide and better browsing
capabilities allowing consumers to more easily search, find and
purchase the Healthcare products they are looking for.
- Phase 1 of the Partner Program featuring the display of dynamic
product ads beside relevant content searches has been developed and
is in beta trials.
- During the twelve months ended March 31, 2007, the Company raised net
proceeds of $2,129,758 from the issuance of 21,665,000 shares related
to a private placement and the exercise of warrants and agents unit
For the year ended March 31, 2007, the Company:
- Incurred a net loss of $1,807,329/$0.02 loss per common share, a
decrease of 9% from $1,983,111/$0.05 loss per common share for the
fiscal year ended March 31, 2006.
- Generated commission revenue from the Company's Comparison Shopping
business of $390,068 compared to $8,555 for the fiscal year ended
March 31, 2006, an increase of 4,459%.
- Incurred total expenses of $2,197,397 compared to $1,961,912 for the
fiscal year ended March 31, 2006. Total expenses consist of $624,565
(2006FY: $947,763) for general and administration (G&A); $957,102
(2006FY: $695,162) for sales and marketing (S&M); $604,314 (2006FY:
$261,993) for research and development (R&D); $13,916 (2006FY:
$14,853) for amortization and $nil (2006FY: $87,666) for other
manufacturing and startup costs. The reduction in G&A was offset by
the increases in S&M and R&D as the Company expanded its product
offerings, marketing campaigns, technology development and increased
- At March 31, 2007, the Company had cash resources of $304,479 and
continues to raise capital to further support the development and
acceleration of its business opportunities. Subsequent to the year
end, the Company received gross proceeds of $500,000 through the
issuance of a convertible promissory note, and $1,585,000 gross
proceeds through two non-brokered private placements.
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, and in turn,
revenue, can be achieved through partnering with Healthcare content
websites, where it will provide these partners with a new higher ROI
revenue source derived through sharing HealthPricer revenue from
consumer actioning HealthPricer product information on the partner's
website. These partner relationships can range from displaying
dynamic product ads beside relevant content searches to white label
stores (essentially the replication of HealthPricer, under the skin
of the partner's website). The Company has been building and testing
relevant dynamic ads during the last 120 days with a couple of trial
partners. The Company is building out its partnering technologies to
where it will have a self serve ad centre, similar to Google's
AdSense program, allowing small to mid sized health content websites
to become HealthPricer traffic partners on their own. The Company is
also in the planning stages of its white label strategy and is
receiving immediate interest from top 10 ranked healthcare websites.
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 - a preferred
source and online destination for 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 225,000 products from 88 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.
The TSX Venture Exchange has not reviewed, and does not accept
responsibility for the adequacy or accuracy of the content of this news
For further information:
For further information: For media: Asa Zanatta, Tel: (604) 408-1389,
(604) 724-7755, firstname.lastname@example.org; For investors: Michael I.
Brown, Tel: (604) 301-0221 ext.120, email@example.com