COURTENAY, B.C. -- July 5, 2001--Kidstoysplus.com Inc. (OTCBB:KTYP), a specialty toy retailer of collectible, hobby and toy products is pleased to provide a brief summary of the results of operations for the fiscal year ended April 30, 2001.
Our sales continued to grow after the holiday season (2000) rising through February, March and April. We had revenues of $40,929 for the first quarter ended April 30, 2001, compared to no revenues during the same period of 2000.
The Company incurred expenses of $66,892 during the first quarter ended April 30, 2001. Total expenses declined by $55,029 (a 45.1% decline) from $121,921 during the three month period ended April 30, 2000. The decline resulted primarily from a decline in consulting fees and sub-contract expenses.
We had a net loss of $49,020 or less then $0.01 per share for the fiscal period ended April 30, 2001 compared to a net loss of $121,921 for the quarter ended April 30, 2000. The Company anticipates that losses will decrease during fiscal year ending January 2002 when compared to the last fiscal year as the Company generates revenues from operations for entire year.
The Company anticipates that it will achieve revenue growth throughout 2001 through the expansion of its existing retail stores, product lines and inventory and through increased Internet visibility and representation on additional Internet portals and popular shopping web sites.
About Kidstoysplus.com
Kidstoysplus.com`s goal is to become a leading specialty toy retailer of hobbies, collectibles and toys. Quality customer service and a large selection of products for the whole family will be the foundation for Kidstoysplus.com future success and growth. Currently Kidstoysplus.com sells product on the Internet, mail order and retail.
For more information, please visit the company`s website at www.kidstoysplus.com or call the Company Toll Free 877/566-1212 or Investor Relations at 514/939-3989 for further information.
On behalf of the Board of Directors
Albert R. Timcke
This press release may contain forward-looking statements within the meaning of the Private Litigation Reform Act of 1995. Such forward looking statements, particularly as related to the projected revenue and profitability of the Company; the Company`s ability to increase its web presence; the Company`s ability to obtain sufficient financing to continue to as a going concern; the business plans of Kidstoysplus.com, development of customer service programs, product offerings, business opportunities, and Kidstoysplus.com`s ability to gain market acceptance, are based on current expectations that involve a number of risks and uncertainties. Actual results may differ materially from the Company`s expectations and estimates. Readers are cautioned against placing undue reliance on forward looking statements.
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CONTACT:
Kidstoysplus.com Inc.
Albert R. Timcke
877/566-1212
Investor Relations
514/939-3989
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