Deerfield Beach, Florida (PressExposure) November 20, 2009 -- Press release FOR IMMEDIATE RELEASE
CHDT CORP. REPORTS RECORD YTD REVENUES OF $4,968,061 APPROACHES 2010 WITH OVER $3,000,000 ORDER BACKLOG
Webcast scheduled for Tuesday 11/17/09 at 11:00 A.M.
DEERFIELD BEACH, FL: CHDT Corp. (OTCBB:CHDO)(Company), a Florida corporation with operating subsidiaries focused on designing and manufacturing consumer products for the North American retail market, reported 3rd Quarter FY 2009 (unaudited) gross revenue of $2,424,686 Year-to-date (YTD) revenues were $4,968,061, an increase of 16% over the $4,290,702 reported for the same period in FY 2008.
Capstone Industries, a Company subsidiary, generated all YTD gross revenues for the quarter. The gross revenue increase resulted from the placement of Eco-i-Liteâ¢ products (the Companyâs multi-functional power failure light program), the launch of the Companyâs new Pathway Lightsâ¢ Booklight and Tasklight program and sales of its new secure portable memory products through its BBI division of Capstone Industries.
The Company has a current product order backlog in excess of $3,000,000 (as of November 16, 2009) scheduled for delivery in the 4th Quarter FY 2009 and FY2010, which backlog may not reflect actual sales in said quarter or any subsequent quarter and is subject to adjustment for order returns or cancellations. Howard Ullman, Chairman of the Company Board of Directors, said: âThe order backlog reflects the ongoing effort of our sales department to place product. While current economic conditions create uncertainty as to actual sales results for any fiscal quarter, we are encouraged by this current order backlog.â
âAn exciting development for the 4th Quarter FY 2009 will be the first complete line presentation of USB products developed by our BBI division of Capstone,â said John Tate, President of Black Box Innovations. âThe family of products has been rebranded âClassifiedâ and the entire family will have its first significant promotion On an end cap at a premier retailer. The line consists of four items; Personal Pocket Safeâ¢, Secret Diaryâ¢, Classified Secure Flash Driveâ¢, and Safe Mouseâ¢,â added Mr. Tate.
âIn spite of continued retail pressures, and uncertain economic conditions, our management team has continued to narrow losses and remains focused on innovative developments and new product placementsâ, said Mr. Ullman. Our company is well positioned to grow in 2010 through new product offerings which should gain traction as the economy gains strength,â he said.
WEBCAST: CHDT Corp will hold a webcast to allow shareholders and security analysts the opportunity to hear management discuss the Companyâs quarterly results. The webcast can be accessed at the Companyâs website: [http://www.chdtcorp.com] as well as http://www.investorcalendar.com/IC/CEPage.asp?ID=152412. Event Information: Event Date: 11/17/2009 Event Time: 11:00 AM Eastern Event Title: Third Quarter 2009 Conference Call Webcast Replay Available Until: 11/17/2010 The tables below reflect CHDT Corpâs net sales and operating income on a pro forma (unaudited) basis for the third quarter 2009. The following is qualified in its entirety by reference to the Form 10-Q Report for the quarter ended September 30, 2009, as filed with the Securities and Exchange Commission on or about November 16, 2009.
CHDT CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited) (Unaudited) For the Three Months Ended For the Nine Months Ended September 30, September 30, 2009 2008 2009 2008
Revenues $ 2,424,686 $ 3,021,926 $ 4,968,061 $ 4,290,702 Cost of Sales (1,697,072) (2,068,727) (3,477,929) (2,884,438) Gross Profit 727,614 953,199 1,490,132 1,406,264
Operating Expenses: Sales and marketing 36,556 9,333 113,284 79,743 Compensation 292,232 378,946 874,114 1,199,921 Professional fees 33,967 37,051 95,346 117,567 Consulting 49,700 22,600 106,627 75,930 Other general and administrative 246,476 357,886 776,580 862,060 Total Operating Expenses 658,931 805,816 1,965,951 2,335,221
Net Operating Income (Loss) 68,683 147,383 (475,819) (928,957)
Other Income (Expense): Debt forgiveness - - - - Miscellaneous income - - 57 - Interest expense (67,548) (84,196) (198,179) (148,699) Interest income - 394 - 1,177 Total Other Income (Expense) (67,548) (83,802) (198,122) (147,522)
Net Income (Loss) $ 1,135 $ 63,581 $ (673,941) $ (1,076,479)
Income (Loss) per Common Share $ - $ - $ - $ -
Weighted Av. Shares Outstanding 560,041,646 557,941,646 559,691,830 560,476,479
2 CHDT CORPORATION AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (Continued)
(Unaudited) September 30, December 31, 2009 2008 Liabilities and Stockholdersâ Equity: Current Liabilities: Accounts payable and accrued expenses $ 526,897 $1,824,295 Note payable - Sterling Bank 1,744,066 722,547 Note payable - Examsoft 821,205 - Notes and loans payable to related parties - current maturities 1,194,698 1,185,407
Total Current Liabilities 4,286,866 3,732,249
Total Liabilities 4,286,866 3,732,249
Stockholders' Equity: Preferred Stock, Series A, par value $.001 per share Authorized 100,000,000 shares, issued -0- shares at September 30, 2009 and 60 shares at December 31, 2008 - 1 Preferred Stock, Series B, par value $.10 per share Authorized 100,000,000 shares, issued -0- shares at September 30, 2009 and 2,108,813 at December 31, 2008 Preferred Stock, Series B-1, par value $.0001 per share - 210,882 Authorized 2,108,813 shares, issued 1,329,000 shares at September 30, 2009 and -0- at December 31, 2008 133 - Preferred Stock, Series C, par value $1.00 per share Authorized 1,000 shares, issued 1,000 shares at September 30, 2009 and -0- at December 31, 2008 1,000 - Common Stock, par value $.0001 per share Authorized 850,000,000 shares, Issued 560,041,646 shares at September 30, 2009 and 557,941,646 shares at December 31, 2008 56,006 55,794 Related party receivable (40,441) (40,441) Additional paid-in capital 6,684,601 5,585,702 Accumulated deficit (4,880,735) (4,206,794)
Total Stockholders' Equity 1,820,564 1,605,144
Total Liabilities and Stockholdersâ Equity $ 6,107,430 $5,337,393
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 http://www.capstoneindustries.com, [http://www.takeanyware.com] , [http://www.stptools.com] for information on our current product offerings. References to URLâs in this press release does not incorporate said URLâs or any of their contents in this press release and investors should not rely on such referenced URLâs or their contents in making any investment decisions.
FORWARD-LOOKING STATEMENTS: This press release, including the financial information above, contains "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995, as amended. Such statements consist of words like âanticipate,â âexpect,â âproject,â âcontinueâ âassume,â and similar words. These statements are based on the Companyâs and its subsidiariesâ current expectations and involve risks and uncertainties, which may cause results to differ materially from those set forth in the forward-looking statements. The Company 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 The Company, which is a small business concern and a "penny stock companyâ 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 and risk factors that affect the Companyâs business and securities, particularly those mentioned in the cautionary statements in the Companyâs current and future SEC Filings. Contact: Jill Mohler JMohler@chdtcorp.com 954-252-3440