Who’s Your Daddy, Inc. Expects Record Net Revenues Over $800,000 in Q2
Monday July 2, 12:20 pm ET
Also Forecasts 50% Growth in Q3 Net Revenues to Over $1,200,000
SAN DIEGO, CA–(MARKET WIRE)–Jul 2, 2007 — Who’s Your Daddy, Inc. (OTC BB:WYDY.OB – News), a brand management company focused on the marketing, sales, production, and distribution of Who’s Your Daddy® “King of EnergyT” drinks, held its annual shareholders meeting on Friday, June 29th. At this meeting, the Company announced that it expected record net revenues in the quarter ending June 30, 2007 of over $800,000 and that it expected revenues in the quarter ending September 30, 2007 to be over $1,200,000.
“In the third quarter of last year, we didn’t have a sales team but we made a big push to establish the brand and we were rewarded with net revenues of over $650,000,” stated Edon Moyal, CEO. “Based on this positive response, we decided to take actions in the fourth quarter of last year and the first of this year to get the company ready for sustained growth, including eliminating convertible debt that created an overhang in the market, strengthening our management team and board of directors, and hiring a team of seasoned sales professionals with extensive industry experience. The revenues in the quarter just ended are a validation of those actions and we are confident on the improvement in the third quarter and beyond.”
As part of the annual meeting of shareholders, the Company reported that a quorum of shareholder votes was present in person or by proxy for the meeting and that an overwhelming majority of votes had been cast in favor of a) electing Edon Moyal, Dan Fleyshman, Derek Jones and Wayne Anderson to the Company’s Board of Directors; b) approving the Company’s proposed stock incentive program; and c) ratifying the selection of Baum & Company, PA as the Company’s auditors for 2007 audit.