ValueRich, Inc. (AMEX:IVA), a diversified financial media company, today announced the results of its operations for the three- and six-month periods ended June 30, 2008. Net Loss for the quarter ended June 30, 2008 decreased to approximately $(190,000) from $(421,769) for the same period ended June 30, 2007. The decreased loss was primarily a result of a decrease in operating expenses and to a lesser extent professional fees resulting from a revision of the financial expo line of business and shifting ValueRich magazine to an online publication. Due to the overall market conditions and current economic environment ValueRich, Inc. generated no revenue for the three months ended June 30, 2008. ValueRich also announced today that its board of directors has authorized the repurchase of up to $400,000 of ValueRich (AMEX:IVA) common stock. Shares may be repurchased under the program from time to time in the open market, in privately negotiated transactions or in other ways. ValueRich will decide on purchases based on market conditions and other relevant considerations. �We believe the current valuation of ValueRich common shares makes the repurchase of our equity a solid investment for the company and will be accretive to shareholder value,� said Joseph Visconti, President and CEO of ValueRich, Inc. About ValueRich, Inc. ValueRich, Inc. operates various online media-based properties for corporate and financial professionals, including ValueRich magazine and the industry-wide online financial community iValueRich.com. The Company�s corporate mission is to create the world�s largest and most active community of financial professionals and micro-cap public company executives through its integrated portfolio of products and services. Become a free member of iValueRich.com at http://www.ivaluerich.com. This news release may contain �forward-looking statements� within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements are based on current expectations, estimates and projections made by management. The Company intends for the forward-looking statements to be covered by the safe harbor provisions for forward-looking statements. Words such as �anticipates,� �expects,� �intends,� �plans,� �believes,� �seeks,� �estimates� or variations of such words are intended to identify such forward-looking statements. All statements in this release regarding the future outlook related to ValueRich, Inc., including expectations as to shareholder value are forward-looking statements. The forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth or implied by any forward-looking statements. All forward-looking statements made in this press release are made as of the date hereof, and the Company assumes no obligation to update the forward-looking statements included in this news release as a result of new information or future events. Please refer to the Company�s Form SB-2, as amended, under the caption �Risk Factors� and our other periodic and current reports filed by ValueRich, Inc. with the SEC for additional information regarding risks and uncertainties associates with an investment in ValueRich securities. Copies of these filings are available through the SEC�s website at www.sec.gov.
Valuerich, (AMEX:IVA)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more Valuerich, Charts.
Valuerich, (AMEX:IVA)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more Valuerich, Charts.