VANCOUVER, Aug. 7 /CNW/ – HealthPricer.com (or the “Company”) a leader in the emerging field of Comparison Shopping for Personalized Healthcare, has reported its financial results for the year ended March 31, 2007.
- The Company’s Comparison Shopping business – https://www.healthpricer.com/ – continues generating increasing commission revenues from facilitating the sale of Healthcare Products and Services of industry leading third party online merchants to consumers, in the select healthcare market verticals of Vitamins & Dietary Supplements, Pharmaceuticals, Contact Lenses, Medicine Cabinet and Beauty & Hygiene.
- 2,958% increase in Commission Revenue for quarter ended March 31, 2007 to $193,381 from $6,323 for the comparable quarter of year ended March 31, 2006. This represents a 62% increase over the third quarter ended December 31, 2006.
- 225,000 products from 88 top North American merchants now available on Healthpricer.com compared to 20,000 products and 22 merchants at March 31, 2006
- 164% increase in the average daily unique visitor count, to 5,737 in March 2007 from 2,173 in March 2006.
- In January 2007 the Company launched a re-designed and re-engineered version of HealthPricer.com. The re-designed website includes a completely transformed user experience, navigation system and numerous new features, including site wide and better browsing capabilities allowing consumers to more easily search, find and purchase the Healthcare products they are looking for.
- Phase 1 of the Partner Program featuring the display of dynamic product ads beside relevant content searches has been developed and is in beta trials.
- During the twelve months ended March 31, 2007, the Company raised net proceeds of $2,129,758 from the issuance of 21,665,000 shares related to a private placement and the exercise of warrants and agents unit options.
For the year ended March 31, 2007, the Company:
- Incurred a net loss of $1,807,329/$0.02 loss per common share, a decrease of 9% from $1,983,111/$0.05 loss per common share for the fiscal year ended March 31, 2006.
- Generated commission revenue from the Company’s Comparison Shopping business of $390,068 compared to $8,555 for the fiscal year ended March 31, 2006, an increase of 4,459%.
- Incurred total expenses of $2,197,397 compared to $1,961,912 for the fiscal year ended March 31, 2006. Total expenses consist of $624,565 (2006FY: $947,763) for general and administration (G&A); $957,102 (2006FY: $695,162) for sales and marketing (SM); $604,314 (2006FY: $261,993) for research and development (R&D); $13,916 (2006FY: $14,853) for amortization and $nil (2006FY: $87,666) for other manufacturing and startup costs. The reduction in G&A was offset by the increases in S&M and R&D as the Company expanded its product offerings, marketing campaigns, technology development and increased its headcount.
- At March 31, 2007, the Company had cash resources of $304,479 and continues to raise capital to further support the development and acceleration of its business opportunities. Subsequent to the year end, the Company received gross proceeds of $500,000 through the issuance of a convertible promissory note, and $1,585,000 gross proceeds through two non-brokered private placements.
The Company intends to launch additional departments in Healthpricer.com until it has the most extensive catalogue and database of Healthcare Products and Services available online in North America.
The Company is developing enhanced end-to-end visitor to product sales tracking and reporting technologies, next generation product data collection and normalization technologies and a suite of partner and affiliate integration and reporting tools. The Company is utilizing its knowledge base and leveraging its core competencies to increase the effectiveness of its various traffic generation strategies including its pay-per-click campaigns (PPC) and search engine optimization (SEO) strategies to increase organic traffic.
Management believes the biggest boost in traffic, and in turn, revenue, can be achieved through partnering with Healthcare content websites, where it will provide these partners with a new higher ROI revenue source derived through sharing HealthPricer revenue from consumer actioning HealthPricer product information on the partner’s website. These partner relationships can range from displaying dynamic product ads beside relevant content searches to white label stores (essentially the replication of HealthPricer, under the skin of the partner’s website).
The Company has been building and testing relevant dynamic ads during the last 120 days with a couple of trial partners. The Company is building out its partnering technologies to where it will have a self serve ad centre, similar to Google’s AdSense program, allowing small to mid sized health content websites to become HealthPricer traffic partners on their own. The Company is also in the planning stages of its white label strategy and is receiving immediate interest from top 10 ranked healthcare websites.
In summary, Management believes executing its current plan for HealthPricer.com will continue to drive exponential traffic and revenue growth and that HealthPricer.com holds promise to potentially become to Healthcare what Expedia.com is to travel – a preferred source and online destination for consumers.
About HealthPricer Interactive
HealthPricer Interactive Limited is a leader in online comparison shopping for consumer healthcare products. Led by a team of e-commerce professionals, the Company has applied its proprietary technologies to meet the needs of North American consumers looking for easy access to a choice of products and merchants online. Covering 225,000 products from 88 merchants, HealthPricer.com is the most convenient way for consumers to search for and perform side-by-side comparison of healthcare products based on price, brand and other health related attributes. www.healthpricer.com.