Digital Shelf Space Corp. Annouces Unaudited Financial Results for the Three and Nine Months Ending September 30, 2013

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov 29, 2013) - Digital Shelf Space Corp. (the "Company" or "DSS") (TSX VENTURE:DSS)(DTSRF) announced today its unaudited financial results for the three and nine months ending September 30, 2013.

Quarterly Highlights

  • Production continued during the quarter on a new long form GSP RUSHFIT infomercial for North American DRTV advertising which was successfully completed on time, with release for testing in limited US television markets commencing in November.

  • On July 3, 2013, the Company announced the closing of a non-brokered private placement for total gross proceeds of $437,690 (CAD $459,999) comprised of common shares and warrants.

  • Total revenues for the quarter equals $142,750 and continued to be driven primarily by GSP RUSHFIT

Mr. Jeffrey Sharpe, President and CEO of DSS stated, "We are excited with the completion of the long form infomercial that commenced testing, in limited US television markets, on November 1, 2013, plus the successful defense by Georges St-Pierre of his welterweight MMA title. As for our quarterly results, they are very reflective of both the seasonality of GSP RUSHFIT during the summer months when sales for all fitness related products are slow but also the effects of the transition to GAIAM taking control of the marketing and distribution of GSP RUSHFIT. Although we are disappointed with the results of this quarter, we understand that this is the process that we must go through to achieve the success we believe is possible using the marketing and distribution strengths of GAIAM in the US and internationally. We are confident that as our relationship with GAIAM solidifies and with the upcoming holiday season and fitness season in 2014, that our revenues will reflect our optimism."

Revenue (USD)

The total revenue for the quarter of $142,750 (2012 - $324,877) continued to be driven primarily by the Company's flagship product GSP RUSHFIT an 8-week home-based DVD workout program starring MMA World Welterweight Champion Georges St-Pierre.

Expenses (USD)

During the three months ending September 30, 2013, operating expenses were $695,828 (2012 - $748,374).

Net Loss

Net loss for the quarter ended September 30, 2013 was $520,862 (2012 - $418,949).

Selected Financial Highlights

Selected Period Information

Three months
ended
Sep 30, 2013

Three months
ended
Sep 30, 2012

Gross Revenue

$

142,750

$

324,877

Net loss

$

(553,078

)

$

(423,497

)

Currency Translation Adj.

$

32,216

$

4,548

Weighted average number of

shares outstanding (2)

15,250,879

10,634,129

Net loss per share (1)

$

(0.034

)

$

(0.077

)

Total assets

$

2,553,127

$

2,320,846

Total liabilities

$

919,562

$

600,837

Shareholders' equity

$

1,633,565

$

1,720,009

  1. Basic and fully diluted net loss

  2. On October 30, 2013, the Company's shares were consolidated on a basis of 5:1 and all share data has been retroactively restated to reflect this consolidation.