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During the third quarter, Money4Gold experienced significant top line revenue growth due to international expansion and increased advertising spending. The Company continued to geographically adjust its ad spending to maximize margins by increasing spending in the most profitable areas. The Company gauges revenue growth by analyzing gross gold collected per week, which reflects the total value of the gold received by the Company during that week. Within approximately three weeks this amount, minus customer returns, results in gross revenue to the Company.
According to Money4Gold CEO Douglas Feirstein, "Following the successful integration of Money4Gold and My Gold Envelope, we have accelerated our ad buying efforts strategically focusing on our most profitable media channels. The result has been a tremendous success for our Company as gross gold collected per week is now consistently exceeding $1 million. As we enter the fourth quarter, we will continue to strategically increase our marketing expenses, enter new international markets and leverage our growing advertising budget to attain greater purchasing power positively impacting margins."
The complete third quarter financial report is due to be filed with the Securities and Exchange Commission on or before November 16, 2009.
About Money4Gold Holdings, Inc.
The Company's mission is to increase shareholder value by producing gold, platinum and silver in increasing quantity, and without the risks of mining, large capital costs or the attendant environmental and political hazards. Management believes Money4Gold can offer the upside potential of the thriving international precious metals markets by the broad-scale acquisition, recycling and production of gold, platinum and silver, while concurrently providing a new level of service and payout to individuals and groups wanting to sell their precious metals. Through Money4Gold's consumer websites, including; www.sobredeoro.com, www.Dollars4Gold.ca, www.MyGoldEnvelope.com and www.money4golduk.com, the company strives to provide the most convenient, efficient and secure method for individuals to recycle items containing precious metals. For more corporate information, please visit www.Money4Gold.com.
Safe Harbor
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act") including expectations regarding anticipated third quarter revenue, increases in revenue, leveraging the advertising budget and improving margins, and continued international expansion. Additionally, words such as "seek," "intend," "believe," "plan," "estimate," "expect," "anticipate" and other similar expressions are forward-looking statements within the meaning of the Act. Some or all of the events or results anticipated by these forward-looking statements may not occur. Factors that could cause or contribute to such differences include the impact of competition, the future prices of gold and other precious metals, future economic conditions, and the condition of the global credit and capital markets. Further information on Money4Gold's risk factors is contained in its filings with the Securities and Exchange Commission, including the Form 10-K filed on April 15, 2009. Money4Gold does not undertake any duty nor does it intend to update the results of these forward-looking statements.
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: Money4Gold Holdings, Inc.
CONTACT: ZA Consulting Inc. Public and Investor Relations David Zazoff 212-505-5976
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