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Platinum ‘s 2007

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Now public Platinum has announced it’s 2007 financial results:

For the year ended December 31, 2007, Platinum reported net revenues of $1.96 million compared to net revenues of $0.18 million for fiscal year 2006, representing a year-over-year increase of more than 1000%.

The increased net revenues were primarily attributable to an increase in option and acquisition fee revenue of $0.86 million and first look revenue of $0.45 million. The Company is currently focused on exploiting its large library of intellectual property. The option and acquisition fee revenue is the result of a major Hollywood Studio’s interest in one of these properties. For the year ended December 31, 2007, cost of revenues was $0.28 million compared to $0 for the year ended December 31, 2006. The increase is primarily due to printing costs for comic books. In 2006 printing costs were included as part of the licensing agreement with Top Cow Productions, Inc. and thus, printing costs were not incurred by the Company in 2006.

The Company also reported an increase in operating expenses of $2.0 million or 63% for the year ended December 31, 2007 to $5.2 million, as compared to $3.17 million for fiscal year 2006. The increase was due to increases in payroll, promotion and merchandising costs, which were incurred to support the growth of the Company. Research and development costs increased $0.19 million or 26% for the year ended December 31, 2007 to $0.96 million, as compared to $0.76 million for fiscal year 2006. The increase was due to development of additional intellectual properties.


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