|Wilmington, DE - April 11, 2006 - Zone4Play, Inc. a leading developer of interactive gaming technology, announced today its financial results for the year ended December 31, 2005 and the completion of a placement of common stock and warrants for gross proceeds of approximately $6.5 million.|
Highlights for 2005 include:
· Revenues grew on a sequential yearly basis by 38%, from $768,824 in 2004 to $1,062,420 in 2005..
· Despite the fact that mobile gaming market is still in its infancy, mobile solutions revenues grew by almost five times during 2005, from $30,988 in 2004 to $171,794 in 2005.
· Interactive TV revenues grew on a sequential yearly basis by 43%, from $505,457 in 2004 to $725,027 in 2005.
· Worldwide revenues include 4 continents: North America, Europe, Australia and Asia (the Far East).
· Research and development expenses grew substantially by 89%, from $1,347,960 in 2004 to $2,549,635 in 2005. R&D efforts were focused on completing most of the Company’s unique products, especially its patent pending Multi Player Black Jack tournament solution, its patent pending Broadcast TV (Participation TV) gaming services and its proprietary mobile gaming solution.
“Zone4Play’s continued growth reaffirms our commitment to maintaining our position as a leader in the delivery of gaming software across multiple platforms”, said Shimon Citron, Zone4Play’s CEO and President. “Our commitment to creating unique applications across the gaming spectrum has enabled us in 2005 to sign agreements with some of the world’s largest gaming operators including Coral/Eurobet and Betfair.”
Commenting on the Company’s continued prospects for 2006, Mr. Citron stated, 'We believe that Zone4Play’s position as the leading provider of end-to-end gaming solutions across multiple platforms will continue to drive our growth for the rest of 2006 as shown by our recent contract successes. Our goal is to achieve profitability and growth, through broader penetration of our products among our existing customers, assertive development of new customer opportunities and by introducing our unique online Multi Player Black Jack tournament and our Participation TV gaming services to the gaming market. Based on our current pipeline, we believe we can achieve revenues of at least $3 million in the next 12 months.”
'The $6.5 million funding evidenced investors' confidence in the strength of our product offerings and our roll-out strategy. We are enthusiastic about the new investors who took part in the offering. We are confident that they will bring their knowledge and experience in working with young, high-growth companies such as ours.” Mr. Citron added, “The funding will be used to strengthen our sales and marketing focus with the goal of securing additional partnerships with global brands and achieving new opportunities for our unique interactive e-gaming technologies.”
“Additionally, we continue to acknowledge the strategic importance of the London public markets given recent developments in the UK gaming industry and the increasing demand from UK clients for our products and services. During this year we intend to continue to closely evaluate listing of securities on the AIM market,' commented Citron.
About Zone 4 Play, Inc.
Zone4Play, a leading developer of interactive software and technology for the betting and gaming industry, delivers cross-platform solutions that are built for mass participation gaming. Zone 4 Play is a software and technology provider to UK bookmakers, online gaming operators, betting exchanges and to US cable, satellite and hospitality service providers, delivering online solutions, mobile solutions, interactive TV solutions and participation SMS-TV solutions. Zone4Play works with industry giants such as British Telecom, Coral Eurobet, Betfair, Channel 5 (UK), Cablevision and Lodgenet. For more information visit , which website is not part of this press release.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the 'safe harbor' provisions of the Private Securities Litigation Reform Act of 1995 and federal securities laws. For example, when we say that the Company's recent funding will be used for sales and marketing, additional partnerships and new opportunities, that we believe that the Company's position will continue to drive our growth for the rest of 2006, or that we intend to continue to evaluate listing on the AIM market, or when we discussed expected revenues in the next 12 months, we are using forward looking statements. These forward-looking statements are based on the current expectations of the management of Zone4Play only, and are subject to a number of factors and uncertainties that could cause actual results, performance or achievements of Zone4Play, including revenues, income and expenses, to differ materially from those described in or implied by these forward-looking statements. Such factors include risks relating to Zone4Play's anticipated future financial performance and growth, the availability of favorable partnership or other investment opportunities, market acceptance of Zone4Play's products, the ability of Zone4Play’s products to continue to remain reliable and easy to use without interruption, the market conditions for securities such as the Company's in the United Kingdom and elsewhere and other factors over which Zone4Play may have little or no control. Zone4Play undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. This list is intended to identify only certain of the principal factors that could cause actual results to differ. For a more detailed description of the risks and uncertainties affecting Zone4Play, reference is made to Zone4Play's reports filed from time to time with the Securities and Exchange Commission.