SOURCE: TheDirectory.com, Inc.
TAMPA, FL--(Marketwire - Aug 7, 2012) - TheDirectory.com, Inc. (PINKSHEETS: SEEK), an emerging leader in the vertical and Local search space, today announced that it will release its financial results for the first six months of 2012 after the market close on August 21st.
TheDirectory.com founder and CEO Scott Gallagher stated, "We're pleased to be reporting our financial results for the first half of 2012 and to resume our goal of becoming a fully-reporting SEC company. We're entering an exciting phase of our growth trend that requires us to become a fully-reporting SEC company. Our goal is still to complete this process during 2012."
Gallagher continued, "During the last week of May we were approached by an industry-leading internet company with annual sales of over $100 Million for the purpose of discussing the potential acquisition of all or part of TheDirectory.com. After two months of discussions we have decided to terminate the talks at this time based on valuation. During the process of determining a valuation methodology of the Company relative to the market and our peers, we uncovered areas of significant opportunity that we feel will generate increased shareholder value going forward. During the remainder of 2012, our efforts will be focused on completing the process of becoming a fully-reporting company, growing both the top and bottom line, continuing to improve our balance sheet, and working to increase the shareholder value of our organization. To be clear, we have not attempted to market the company for sale. We feel it's still early in our growth cycle to seek an exit or sale of the company that would generate full value for our stockholders."
About TheDirectory.com, Inc.
TheDirectory.com is a diversified Local and Vertical Internet search company that owns and operates a network of locally-targeted, category-specific, search destinations anchored by its local business search engine www.TheDirectory.com. Other sites in the network include: www.BusinessList.com, www.Podiatrists.com, www.Pediatricians.com, www.Psychiatrists.com, www.Chiropractor.net, www.Therapists.net, www.DentistAppointments.com, www.Dietitians.net, and many others. For more information see the company's financial statements and related filings on www.OTCMarkets.com.
Certain statements contained herein are "forward-looking" statements (as defined -- Private Securities Litigation Reform Act of 1995). TheDirectory.com, Inc. cautions that the statements made in this press release constitute forward-looking statements and no guarantees of future performance and actual results or developments may differ materially from projections in forward-looking statements. Forward-looking statements are based on estimates and opinions of management at time the statements are made.