News Feed Item

Digital Shelf Space Corp. Announces Unaudited Financial Results for the Six Months Ending June 30, 2014 and Stock Option Grants

VANCOUVER, BC--(Marketwired - August 29, 2014) - Digital Shelf Space Corp. (the "Company" or "DSS") (TSX VENTURE: DSS) (PINKSHEETS: DTSRF) announced today its unaudited financial results for the six month period ended June 30, 2014.


  • Non-cash expenses for the period totaled $889,953.
  • On August 7, 2014 the filming and production of the new instructional exercise series FLO FIT starring recording artist Tramar Dillard (FLO RIDA) commences.
  • FLO Holdings, LLC invests $100,000 USD ($110,000 CAD) into the Company and receives 733,334 common shares at $0.15 CAD.
  • On May 9, 2014 the Company closes a $3,000,000 private placement.
  • Company hires former GAIAM executive to be President and COO.
  • Company appoints former Herbal Magic and Hair Club CEO to board of directors.
  • TOURAcademy short-form infomercials are test aired on Golf Channel in July.
  • GSP RUSHFIT 30 minute long-form infomercial is test aired in August.

Revenue (USD)

Total revenue for the period was $161,104 (2013 - $600,510).

Expenses (USD)

Operating expenses for the six months ending June 30, 2014 were $1,787,070 (2013 - $1,450,182) however, excluding non-cash expenses reported for this period of $889,953 (2013 - $141,782), the adjusted total operating cash expenses were $897,117 (2013 - $1,308,400). Key non-cash expenses were the cost of the GSP RUSHFIT infomercial of $493,382 (required under IFRS IAS 38 to be fully expensed in the period the Company took possession of completed product) and stock-based compensation of $316,109.

Net Loss

Net loss for the six months ended June 30, 2014 was $1,625,966 (2013 - $849,672). Adjusted loss excluding non-cash expenses for the period was $736,013 (2013 - $707,890), marginally higher than 2013. 

Selected Financial Highlights

                        Selected Period Information                         
                                                 Six months     Six months  
                                                    ended          ended    
                                                  June 30,       June 30,   
                                                    2014           2013     
---------------------------------------------- -------------  ------------- 
Gross Revenue                                  $     161,104  $     600,510 
Net loss                                       $  (1,625,966) $    (849,672)
Currency Translation Adj.                      $     367,673  $      (5,922)
Weighted average number of shares outstanding     38,590,171     17,944,173 
Net loss per share (1)                         $      (0.033) $      (0.010)
Total assets                                   $   4,016,329  $   2,616,617 
Total liabilities                              $     745,485  $     954,330 
Shareholders equity                            $   3,270,844  $   1,662,287 
---------------------------------------------- -------------  ------------- 

(1) Basic and diluted net loss

Option Grants

On June 5, 2014, the Company granted, subject to shareholder's approval, a total of 50,000 of incentive stock options to a consultant. The stock options will vest immediately and are exercisable to acquire one common share at CAD $0.13 and can be exercised until June 5, 2019.


FLO RIDA is an international hip hop artist and businessman having sold over 80 million records around the world. He owns a music production company under the banner I.M.G. STRONGARM, and has a following around the globe with over 17 million Facebook fans and over 5 million followers on Twitter. He also supports the local community through his Football League (FYFL) and track club (StrongArm Elite Track Club). Information on FLO RIDA can be found at www.officialflo.com

About Digital Shelf Space Corp.

Digital Shelf Space is an independent creator, producer and distributor of home entertainment content targeted at the fitness and sports instruction market. Digital Shelf Space's overall content partnership strategy is to align itself with world-class, global brand partners. For more information please visit www.digitalshelfspace.com and to view the Company's products please visit www.gsprushfit.com and www.touracademydvds.com.


"Jeffrey Sharpe"
CEO & Director

Forward Looking Statements

This news release contains "forward-looking information" within the meaning of the Canadian securities laws. Forward-looking information is generally identifiable by use of the words "believes," "may," "plans," "will," "anticipates," "intends," "budgets", "could", "estimates", "expects", "forecasts", "projects" and similar expressions, and the negative of such expressions. Forward-looking information in this news release include statements about the filming and production of a new instructional exercise series starring FLO RIDA; the test airing of TOURAcademy short-form infomercials; shareholder approval of stock options granted; and the test airing of a GSP RUSHFIT long-form infomercial. 

In connection with the forward-looking information contained in this news release, the Company has made numerous assumptions. While the Company considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies.

Additionally, there are known and unknown risk factors which could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. Known risk factors include, among others: anticipated sales and/or volumes of sales for GSP RUSHFIT and TOURAcademy® Home Edition may not be realized; the partnership with FLO FIT Holdings, LLC and FLO RIDA may not benefit the Company as currently anticipated, or at all; the Company may not be able to sustain or increase revenues achieved during the current reporting period; the Company's products may not achieve the brand recognition and increased distribution as currently anticipated; the Company may not adopt successful advertising strategies or marketing methods; the substantial investment of capital required to produce and market video and entertainment productions; the need to obtain additional financing and uncertainty as to the availability and terms of future financing; unpredictability of the commercial success of our programming; the possibility the rate of growth of the market for fitness media will slow; reliance on the health and marketability of celebrity fitness talent in productions owned by the Company; the possibility of competition from other ecommerce and online marketing vendors; the possibility of new fitness titles from traditional large studios that target the male demographic; large media production companies may move ecommerce operations in-house rather than outsourcing; reliance on production studios continuing to outsource ecommerce operations; reliance on a number of key employees; limited operating history; the possibility of claims against the intellectual property rights of the Company; the possibility of infringements upon the intellectual property rights of the Company; the Company may not have sufficiently budgeted for expenditures necessary to carry out planned activities; future operating results are uncertain and likely to fluctuate; the Company may not have the ability to raise additional financing required to carry out its business objectives on commercially acceptable terms, or at all; and volatility of the market price of the Company's shares.

A more complete discussion of the risks and uncertainties facing the Company is disclosed in the Company's continuous disclosure filings with Canadian securities regulatory authorities at www.sedar.com. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
@DevOpsSummit has been named the ‘Top DevOps Influencer' by iTrend. iTrend processes millions of conversations, tweets, interactions, news articles, press releases, blog posts - and extract meaning form them and analyzes mobile and desktop software platforms used to communicate, various metadata (such as geo location), and automation tools. In overall placement, @DevOpsSummit ranked as the number one ‘DevOps Influencer' followed by @CloudExpo at third, and @MicroservicesE at 24th.
SYS-CON Events announced today that Roundee / LinearHub will exhibit at the WebRTC Summit at @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. LinearHub provides Roundee Service, a smart platform for enterprise video conferencing with enhanced features such as automatic recording and transcription service. Slack users can integrate Roundee to their team via Slack’s App Directory, and '/roundee' command lets your video conference ...
Traditional on-premises data centers have long been the domain of modern data platforms like Apache Hadoop, meaning companies who build their business on public cloud were challenged to run Big Data processing and analytics at scale. But recent advancements in Hadoop performance, security, and most importantly cloud-native integrations, are giving organizations the ability to truly gain value from all their data. In his session at 19th Cloud Expo, David Tishgart, Director of Product Marketing ...
Successful digital transformation requires new organizational competencies and capabilities. Research tells us that the biggest impediment to successful transformation is human; consequently, the biggest enabler is a properly skilled and empowered workforce. In the digital age, new individual and collective competencies are required. In his session at 19th Cloud Expo, Bob Newhouse, CEO and founder of Agilitiv, will draw together recent research and lessons learned from emerging and established ...
The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering Cloud Expo and @ThingsExpo will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at Cloud Expo. Product announcements during our show provide your company with the most reach through our targeted audiences.
Established in 1998, Calsoft is a leading software product engineering Services Company specializing in Storage, Networking, Virtualization and Cloud business verticals. Calsoft provides End-to-End Product Development, Quality Assurance Sustenance, Solution Engineering and Professional Services expertise to assist customers in achieving their product development and business goals. The company's deep domain knowledge of Storage, Virtualization, Networking and Cloud verticals helps in delivering ...
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smar...
Kubernetes, Docker and containers are changing the world, and how companies are deploying their software and running their infrastructure. With the shift in how applications are built and deployed, new challenges must be solved. In his session at @DevOpsSummit at19th Cloud Expo, Sebastian Scheele, co-founder of Loodse, will discuss the implications of containerized applications/infrastructures and their impact on the enterprise. In a real world example based on Kubernetes, he will show how to ...
SYS-CON Events announced today that SoftNet Solutions will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. SoftNet Solutions specializes in Enterprise Solutions for Hadoop and Big Data. It offers customers the most open, robust, and value-conscious portfolio of solutions, services, and tools for the shortest route to success with Big Data. The unique differentiator is the ability to architect and ...
Without lifecycle traceability and visibility across the tool chain, stakeholders from Planning-to-Ops have limited insight and answers to who, what, when, why and how across the DevOps lifecycle. This impacts the ability to deliver high quality software at the needed velocity to drive positive business outcomes. In his general session at @DevOpsSummit at 19th Cloud Expo, Eric Robertson, General Manager at CollabNet, will discuss how customers are able to achieve a level of transparency that e...
“Media Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. CloudBerry Backup is a leading cross-platform cloud backup and disaster recovery solution integrated with major public cloud services, such as Amazon Web Services, Microsoft Azure and Google Cloud Platform.
SYS-CON Events announced today that Embotics, the cloud automation company, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Embotics is the cloud automation company for IT organizations and service providers that need to improve provisioning or enable self-service capabilities. With a relentless focus on delivering a premier user experience and unmatched customer support, Embotics is the fas...
In the next five to ten years, millions, if not billions of things will become smarter. This smartness goes beyond connected things in our homes like the fridge, thermostat and fancy lighting, and into heavily regulated industries including aerospace, pharmaceutical/medical devices and energy. “Smartness” will embed itself within individual products that are part of our daily lives. We will engage with smart products - learning from them, informing them, and communicating with them. Smart produc...
As ridesharing competitors and enhanced services increase, notable changes are occurring in the transportation model. Despite the cost-effective means and flexibility of ridesharing, both drivers and users will need to be aware of the connected environment and how it will impact the ridesharing experience. In his session at @ThingsExpo, Timothy Evavold, Executive Director Automotive at Covisint, will discuss key challenges and solutions to powering a ride sharing and/or multimodal model in the a...
SYS-CON Events announced today that Coalfire will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Coalfire is the trusted leader in cybersecurity risk management and compliance services. Coalfire integrates advisory and technical assessments and recommendations to the corporate directors, executives, boards, and IT organizations for global brands and organizations in the technology, cloud, health...