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CHDT CORP. REPORTS RECORD REVENUES AND PROFITS FOR 3rd QUARTER FY
2008
CONFERENCE WEBCAST THURSDAY OCTOBER 30TH AT 1:00 P.M.
DEERFIELD BEACH, FL: CHDT Corp. (OTCBB:CHDO), a Florida-based management
company with operating subsidiaries focused on designing and manufacturing
consumer products for the North American retail market, reported
today financial results for the third Quarter of 2008.
Revenues increased 271% versus the 3rd Quarter of 2007. The company had
revenues of $3,021,924 versus $814,688 in the 3rd Q of 2007. Nine month
gross revenues increased 203% to $4,290,702 FY 2008 versus $1,415,165 in
2007.
For the three months ended September 30th, the company had net income of
$63,581 from continuing operations versus a net loss of $267,764 in 2007 and
a net loss of $512,118 in Q2 of 2008. Total assets increased to $5,654,005
in Q3 versus 3,693,374 in Q2 due to increased cash and accounts receivables.
The company has an order backlog in excess of $4,000,000 and expects sales
to continue to steadily grow over the next few quarters as it implements
additional STPR, Eco-i-LiteT, and TakeT programs. The fourth quarter will be
the first full quarter of the year that all its product lines launched in
2007/2008 will contribute to the company's revenue stream. The fourth
quarter is also historically the company's highest performing quarter due to
holiday shipments.
"We are pleased with gross sales levels and profitability for the 3rd
Quarter of FY2008, especially in light of very uncertain, challenging,
general economic conditions in the U.S. In spite of this environment we
continue to make progress in growing sales. Our management team had the
insight in 2007 to developing new technology products that consumer's desire
and we will continue launching exciting new products in 2009" said Chairman,
Howard Ullman. "The company has turned the corner from losses to
profitability and we expect to continue on our growth plan throughout 2009",
He said.
CHDT Corp Conference webcast:
1:00 p.m. Eastern Time today, 10/30/2008. Members of the news media,
investors and the general public are invited to access a live webcast of the
conference call via "CHDT Corps " website at www.chdtcorp.com or through
www.InvestorCalendar.com. The event will be archived and available for
replay through 10/30/2009.
The tables below reflect CHDT Corp's net sales and operating income on a pro
forma basis for the third quarter ended September 30th 2008.
CHDT CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited) (Unaudited)
For the Three Months Ended For the Nine Months Ended
September 30, September 30,
2008 2007 2008 2007
Revenues $ 3,021,926 $ 814,687 $ 4,290,702 $1,415,165
Cost of Sales (2,068,727) (456,918) (2,884,438) (803,777)
Gross Profit 953,199 357,769 1,406,264 611,388
Operating Expenses:
Sales and marketing 9,333 10,629 79,743 33,775
Compensation 378,946 409,435 1,199,921 679,994
Professional fees 37,051 53,426 117,567 162,619
Consulting 22,600 12,700 75,930 87,700
Other General and administrative 357,886 187,433 862,060 452,831
Total Operating Expenses 805,816 673,623 2,335,221 1,416,919
Net Operating Income (Loss) 147,383 (315,854) (928,957) (805,531)
Other Income (Expense):
Debt forgiveness - 79,000 - 79,000
Miscellan eous income - - - 750
Interest expense (84,196) (41,464) (148,699) (93,689)
Interest income 394 10,554 1,177 27,744
Total Other Income (Expense) (83,802) 48,090 (147,522) 13,805
Net Income (Loss) $ 63,581 $ (267,764) $(1,076,479) $ (791,726)
Income (Loss) per Common Share $ - $ - $ - $ -
Weighted average shares outstanding 557,941,646 569,920,650 560,476,479
558,422,786
CHDT CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(Continued)
(Unaudited)
September 30, December 31,
2008 2007
Liabilities and Stockholders' Deficit:
Current liabilities:
Accounts payable and accrued expenses $ 2,332,940 $ 601,946
Customer deposits - -
Notes and loans payable to related parties - current maturities 572,973
688,305
Total current liabilities 2,905,913 1,290,251
Non-current liabilities
Note payable - Sterling Bank 439,830 -
Notes and loans payable to related parties 546,025 546,025
Total non-current liabilities 985,855 546,025
Total Liabilities 3,891,768 1,836,276
Stockholders' Deficit:
Preferred Stock, Series A, par value $.001 per share
Authorized 100,000,000 shares,
Issued 60 at September 30, 2008
and 6,560 shares at December 31, 2007 1 7
Preferred Stock, Series B, par value $.10 per share
Authorized 100,000,000 shares,
Issued 2,108,813 at September 30, 2008
and 1,358,738 at December 31, 2007 210,882 135,874
Common Stock, par value $.0001 per share
Authorized 600,000,000 shares,
Issued 557,941,646 shares at September 30, 200 8
and 599,745,646 shares at December 31, 2007 55,794 59,975
Additional paid-in capital 5,440,097 5,034,527
Accumulated deficit (3,944,537) (2,868,058)
Total Stockholders' Deficit 1,762,237 2,362,325
Total Liabilities and Stockholders' Deficit $ 5,654,005 $ 4,198,601
About CHDT Corp.
CHDT Corp.(http://www.chdtcorp.com) is a public holding
company that engages, through its wholly owned subsidiaries, in the
development, manufacturing, logistics, and distribution of consumer products
to retailers and wholesalers throughout North America. See
http://www.chdtcorp.com for more information about the company and
www.capstoneindustries.com ,www.takeanyware.com , http://www.stptools.com for
information on our current product offerings.
Contact: Jill Mohler
JMohler@chdtcorp.com
954-252-3440
Reference of URL's in this
press release does not incorporate said URL's or any of their contents in
this press release
FORWARD-LOOKING STATEMENTS: This press release, including the financial
information that follows, contains "forward-looking statements" as that term
is defined in the Private Securities Litigation Reform Act of 1995, as
amended. These statements are based on the Company's and its subsidiaries'
current expectations and involve risks and uncertainties, which may cause
results to differ materially from those set forth in the statements. CHDT
undertakes no obligation to publicly update any forward-looking statement,
whether as a result of new information, future events, or otherwise.
Forward-looking statements in this press release and risks associated with
any investment in CHDT, which is a small business concern and a "penny stock
company" and, as such, a highly risky investment suitable for only those who
can afford to lose such investment, should be evaluated together with the
many uncertainties that affect CHDT's business, particularly those mentioned
in the cautionary statements in current and future CHDT's SEC Filings.
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