Light Media Reports Q1 2013 Results
ATLANTA , GA--(Global News Update – May 14, 2013) - Light Media (OTC Markets: LGMH ), Inspirational Media Specialist, announced today its results for the quarterly-period ending March 31, 2013, as follows:
* Revenues were $11,618 as of March 31, 2013.
* Cost of sales were $2,500 as of March 31, 2013.
* Selling, general and administrative expenses were $ 20,369 as of March 31, 2013. Financial Footnote: *** Disproportionate Q1 Operating Expenses Variance Primarily Attributed to Previously Announced Divestiture of Power 105.5 Radio Media Property.
Five (5) Key LGMH ( Q1 2013) Accomplishments :
1. Acquired strategically key media domain: www.LGMH.com (joining the ranks of the few publicly-traded companies worldwide that also own the invaluable top-level .Com internet domain name corresponding with their Stock Ticker Symbol).
2. Released Six (6) Digital Media Apps in iTunes and Google App Stores Worldwide.
3. Repurchased 28,000 common shares in open market transactions, at an average price of $0.013/share (plus an additional 46,000 shares post Q1 close at an average price of $0.010/share, leaving an available stock repurchase amount of 2,165,000 shares, via previously-announced Stock Repurchase Program.
4. Initiated Two (2) New Product Launches for Summer and Fall 2013.
5. Developed New Digital Media Platform.
About Light Media : Light Media (OTC Markets: LGMH ), Inspirational Media Specialist, markets, produces and distributes inspirational music, video, video games, print media and entertainment in the Inspirational Media space through its network of radio, Internet, television, print and special events global business platforms and marketing and alliance partners. Light Media is also the 20th publicly-traded radio/media conglomerate (member) of the prestigious RBR-TVBR Stocks Index (see full RBR-TVBR Media Index listing at: www.RBR.com . For more information, please visit: www.LightMediaHoldings.com ; www.InvaluableMedia.com ; www.HotChristianStocks.com ; www.LGMH.com .
Cautionary Note Regarding Forward-Looking Statements : This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Light Media (OTC: “LGMH”) and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.
