HONG KONG, April 3, 2007 -- Hong Kong based Artificial Life, Inc. (OTCBB:ALIF), a leading provider of award winning mobile technology and applications, today announced its fiscal 2006 results.
Commenting on the company's performance in 2006, Eberhard Schoneburg, Artificial Life's CEO, stated, "2006 was a good and successful year for us and a year of growth. The business activities in 2006 were dominated by two key factors: first and foremost by our global expansion and product roll-out and secondly by the co-operation with the two global media companies, The Walt Disney Company and CBS. We have successfully launched our key 3G products in Hong Kong, Taiwan, Malaysia, Brunei and we have produced and launched the new and very innovative America's Next Top Model(tm) Series 7 (and Series 8) and Big Brother(tm) All Stars games with CBS Mobile and the CW TV network in the USA.
"In 2007 we intend to further expand our product launches to many more countries around the world such as Austria, Denmark, Finland, Germany, India, Italy, Japan, Luxembourg, Norway, Spain, Sweden and the UK among others. Our European roll-out activities will be handled mostly by our new European headquarters and staff in Berlin. We also plan to release again several new and exciting 3G mobile games based on our own intellectual properties and other new titles based on popular licensed brands in 2007. We are therefore looking forward to further establishing Artificial Life as a key global player for 3G content and leading edge mobile technology."
Revenues for the year ended December 31, 2006 were $856,334, compared to $266,757 for the year ended December 31, 2005. The increase of $589,577 or 221% was primarily due to licensing revenue generated from the key 3G mobile products such as V-girl(tm), V-boy(tm), V-Penguin(tm) and the licensing of Internet technology.
Net Loss for the year ended December 31, 2006 was $2,942,532 as compared to a net loss of $1,684,449 for the year ended December 31, 2005. This increase of $1,258,083 or 74.69% was primarily due to our global expansion, increase of staff and a stock based compensation expense of $1,486,800 which was recognized upon adoption of SFAS 123R. The net loss per share for the year ended December 31, 2006 was $0.10 compared to a net loss per share of $0.07 for 2005.
About Artificial Life
Artificial Life, Inc. (OTCBB:ALIF) is a public U.S. corporation headquartered in Hong Kong and a leading global provider of award winning mobile technology, content, games and applications (see also our homepage: http://www.artificial-life.com and our m-commerce portal www.botme.com).
This press release contains "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. Such forward-looking statements include, without limitation, statements regarding our future results of operations, financial condition and business prospects. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expect," "intend," "plan," "anticipate," "believe," "estimate," "predict," "potential," "continue," or the negative of these terms or other comparable terminology. Although such statements are based on our own information and information from other sources we believe to be reliable, you should not place undue reliance on them. These statements involve risks and uncertainties, and actual market trends or our actual results of operations, financial condition or business prospects may differ materially from those expressed or implied in these forward looking statements for a variety of reasons. Potential risks and uncertainties include, but are not limited to, our ability to obtain additional funding to operate and grow our business; the unproven potential of our mobile gaming business model; changing consumer preferences and uncertainty of market acceptance of our products; timely adoption and availability of 3G mobile technology; market acceptance for use of mobile handheld devices to play the interactive games; unpredictable mobile game development schedules; our reliance on a relatively small number of brands; our ability to license brands from others; our dependence upon resellers and telecommunication carriers and operators to distribute our products; our ability to successfully develop, introduce, and sell new or enhanced products in a timely manner; and the timing of new product announcements or introductions by us or by our competitors. For additional discussion of these risks and uncertainties and other factors, please see the documents we file from time to time with the Securities and Exchange Commission, including our Annual Report on Form 10-KSB filed on April 3, 2007. We assume no obligation to update any forward-looking statements, which apply only as of the date of this press release.
CONTACT: Artificial Life, Inc.
(+852) 3102 2800