Click here to close now.


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

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 and to view the Company's products please visit and


"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 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
Just over a week ago I received a long and loud sustained applause for a presentation I delivered at this year’s Cloud Expo in Santa Clara. I was extremely pleased with the turnout and had some very good conversations with many of the attendees. Over the next few days I had many more meaningful conversations and was not only happy with the results but also learned a few new things. Here is everything I learned in those three days distilled into three short points.
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York and Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty ...
In his General Session at DevOps Summit, Asaf Yigal, Co-Founder & VP of Product at, explored the value of Kibana 4 for log analysis and provided a hands-on tutorial on how to set up Kibana 4 and get the most out of Apache log files. He examined three use cases: IT operations, business intelligence, and security and compliance. Asaf Yigal is co-founder and VP of Product at log analytics software company In the past, he was co-founder of social-trading platform Currensee, which...
DevOps is about increasing efficiency, but nothing is more inefficient than building the same application twice. However, this is a routine occurrence with enterprise applications that need both a rich desktop web interface and strong mobile support. With recent technological advances from Isomorphic Software and others, rich desktop and tuned mobile experiences can now be created with a single codebase – without compromising functionality, performance or usability. In his session at DevOps Su...
As organizations realize the scope of the Internet of Things, gaining key insights from Big Data, through the use of advanced analytics, becomes crucial. However, IoT also creates the need for petabyte scale storage of data from millions of devices. A new type of Storage is required which seamlessly integrates robust data analytics with massive scale. These storage systems will act as “smart systems” provide in-place analytics that speed discovery and enable businesses to quickly derive meaningf...
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
In his General Session at 17th Cloud Expo, Bruce Swann, Senior Product Marketing Manager for Adobe Campaign, explored the key ingredients of cross-channel marketing in a digital world. Learn how the Adobe Marketing Cloud can help marketers embrace opportunities for personalized, relevant and real-time customer engagement across offline (direct mail, point of sale, call center) and digital (email, website, SMS, mobile apps, social networks, connected objects).
The buzz continues for cloud, data analytics and the Internet of Things (IoT) and their collective impact across all industries. But a new conversation is emerging - how do companies use industry disruption and technology enablers to lead in markets undergoing change, uncertainty and ambiguity? Organizations of all sizes need to evolve and transform, often under massive pressure, as industry lines blur and merge and traditional business models are assaulted and turned upside down. In this new da...
Culture is the most important ingredient of DevOps. The challenge for most organizations is defining and communicating a vision of beneficial DevOps culture for their organizations, and then facilitating the changes needed to achieve that. Often this comes down to an ability to provide true leadership. As a CIO, are your direct reports IT managers or are they IT leaders? The hard truth is that many IT managers have risen through the ranks based on their technical skills, not their leadership ab...
We all know that data growth is exploding and storage budgets are shrinking. Instead of showing you charts on about how much data there is, in his General Session at 17th Cloud Expo, Scott Cleland, Senior Director of Product Marketing at HGST, showed how to capture all of your data in one place. After you have your data under control, you can then analyze it in one place, saving time and resources.
In recent years, at least 40% of companies using cloud applications have experienced data loss. One of the best prevention against cloud data loss is backing up your cloud data. In his General Session at 17th Cloud Expo, Sam McIntyre, Partner Enablement Specialist at eFolder, presented how organizations can use eFolder Cloudfinder to automate backups of cloud application data. He also demonstrated how easy it is to search and restore cloud application data using Cloudfinder.
The Internet of Everything is re-shaping technology trends–moving away from “request/response” architecture to an “always-on” Streaming Web where data is in constant motion and secure, reliable communication is an absolute necessity. As more and more THINGS go online, the challenges that developers will need to address will only increase exponentially. In his session at @ThingsExpo, Todd Greene, Founder & CEO of PubNub, exploreed the current state of IoT connectivity and review key trends and t...
Two weeks ago (November 3-5), I attended the Cloud Expo Silicon Valley as a speaker, where I presented on the security and privacy due diligence requirements for cloud solutions. Cloud security is a topical issue for every CIO, CISO, and technology buyer. Decision-makers are always looking for insights on how to mitigate the security risks of implementing and using cloud solutions. Based on the presentation topics covered at the conference, as well as the general discussions heard between sessi...
As organizations shift towards IT-as-a-service models, the need for managing & protecting data residing across physical, virtual, and now cloud environments grows with it. CommVault can ensure protection & E-Discovery of your data - whether in a private cloud, a Service Provider delivered public cloud, or a hybrid cloud environment – across the heterogeneous enterprise.
With all the incredible momentum behind the Internet of Things (IoT) industry, it is easy to forget that not a single CEO wakes up and wonders if “my IoT is broken.” What they wonder is if they are making the right decisions to do all they can to increase revenue, decrease costs, and improve customer experience – effectively the same challenges they have always had in growing their business. The exciting thing about the IoT industry is now these decisions can be better, faster, and smarter. Now ...