SCOTTSDALE, Ariz., Aug. 15 /PRNewswire-FirstCall/ -- Quepasa Corporation (the "Company") (NASDAQ:QPSA), one of the largest, bicultural, Latino online communities, today issued a business update for the second quarter ended June 30, 2007.
Total page views for the second quarter of 2007 were 91 million, compared to 37 million in the year ago quarter, and 109 million in the first quarter 2007. Total new members for the second quarter of 2007 were 33 thousand compared to 25 thousand in the year ago quarter, and 541 thousand in the first quarter 2007. Daily unique users for the second quarter 2007 totaled 3.7 million, compared to 1.8 million in the year ago quarter, and 5.1 million in the first quarter 2007. Total members for the second quarter 2007 were 1.3 million, compared to 246 thousand in the prior year quarter, and 1.2 million in the first quarter of 2007.
Net loss for the quarter was $(3.64) million or $(0.30) per basic and diluted share, compared to a net loss of $(1.06) million or $(0.13) per basic and diluted share in the year ago quarter, and net loss of $(3.16) million or $(0.26) per basic and diluted share in the first quarter of 2007.
Robert B. Stearns, Chairman and Chief Executive Officer of Quepasa Corporation noted, "The second quarter was an important transition period for us as we worked aggressively to build a completely new version of Quepasa.com. This new site is now up and running as an invitation-only beta test. The new site's feature set is extremely competitive compared to the offerings of major on-line social communities. Our new software enables our fast growing, Latino target demographic to generate and share video, digital photography, and audio content, manage groups more effectively, and ensure privacy. We expect the new site, scheduled for a public-beta release in about two weeks, to spark the viral growth that we need to attract meaningful domestic advertising, sponsorship, and other revenues.
As mentioned in past updates, we intend to grow organically and by acquisition. We intend any acquisition to be accretive, Latino-centric, and aligned with our objectives to entertain, empower, and enrich our audience. We are currently engaged in substantive discussions with a profitable, content-producing enterprise that meets all three of these acquisition criteria. We believe that the market for the empowering content produced by our potential acquisition candidate is robust for our target demographic within the United States and growing quickly in Mexico.
The development of our Mexican employment channel, Todos Trabajando, remains on track. Todos Trabajando is an important part of Quepasa's Enrichment strategy and is positioned to capitalize on the demand for job creation in Mexico.
During the first half of 2007, Quepasa Corporation has focused on rebuilding Quepasa.com, fortifying its staff, and establishing a strategic path which is designed to generate sustainable cash flows and differentiate our enterprise from other social communities. With current developments underway, including a continued focus on cost control, we expect our revenues to increase through the remainder of 2007. We expect to be cash-flow positive in 2008." About Quepasa Corporation Quepasa Corporation owns Quepasa.com, the largest bicultural, Latino internet community in the world. Quepasa is committed to providing entertaining, enriching, and empowering products and services to its community members. Quepasa provides services to millions of Latino users throughout the U.S. and certain areas of Latin America. Headquartered in Scottsdale, Arizona, Quepasa maintains sales offices in New York, NY, Miami, FL, and Mexico City and technical operations in Hermosillo, Mexico. For more information, visit http://www.quepasacorp.com/.
Quepasa, and the Quepasa.com logo are registered trademarks of Quepasa Corporation and/or its affiliates in the United States and certain other countries.
Contacts: Investor Relations: David Pasquale, 646-536-7006
Gerrard Lobo, 646-536-7023
Safe Harbor/Forward-Looking Statements of Quepasa Corporation
Statements in this press release that refer to plans and expectations for the future are forward-looking statements that involve a number of risks and uncertainties. A number of factors could cause future results to differ materially from historical results, or from results or outcomes currently expected or sought by the Company. In addition to the Risk Factors described in Item 1 of the Company's Form 10-KSB Report for the fiscal year ended December 31, 2006, these factors include, but are not limited to, the possibility of liability for information displayed or accessed via the Company's website and for other commerce-related activities; competition in the operation of websites and in the provision of information retrieval services; changing laws, rules, and regulations; potential liability for breaches of security on the Internet; dependence on third party databases and computer systems; competition from traditional media companies; new technologies that could block the Company's ability to advertise; and, with respect to the matters described in this press release, the fact that the commitment is non-binding and that the expected advertising revenues may not materialize in the expected amounts. DATASOURCE: Quepasa Corporation CONTACT: investor relations, David Pasquale, +1-646-536-7006, , or Gerrard Lobo, +1-646-536-7023, , both for Quepasa Corporation Web site: http://www.quepasa.com/
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