WORLDS.COM EXPECTS TO REPORT INCREASED REVENUE, REDUCED LOSSES FOR THIRD QUARTER
Old Greenwich, CT, November 07, 2000 –
Worlds.com (OTC/BB: WDDD), the premier
three dimensional (3D) virtual reality entertainment portal on the Internet,
today announced that it anticipates reporting record revenue and reduced
losses for its third quarter ended September 30.
Worlds.com derives its revenue from several sources, including advertising
and e-Commerce. Additional revenue is provided from subscriber memberships
and from the development and maintenance of sites for other Internet
portals.
Chairman Steven G. Chrust said that he expected a revenue increase of
approximately 20 percent over the second quarter as the Company also
continued to reduce losses. Revenue in the second quarter of 2000 was
$333,700. The Company reported a loss of $2.53 million in the second
quarter and anticipates a reduction of approximately 25 percent in the third
quarter.
“All of our key revenue streams were up significantly,” he said, “and we
have every expectation that we will again increase revenue and reduce losses
in the fourth quarter.”
The Company will issue its third quarter results on November 14. It will
conduct an investor/analyst conference call (888-890-6819 in the U.S. and
847-619-6479 internationally) and simultaneous web cast (www.vcall.com) at 4:15 (EST) p.m. on November 14. The conference call will be available for replay thru November 30th by dialing: 1-888-843-8996 passcode: 3057191. A replay will also be available at www.vcall.com for 90 days following the conference call.
About Worlds.com
Worlds.com, the Internet’s premier 3D virtual reality entertainment portal,
leverages its proprietary technology to offer visitors a network of virtual,
multi-user environments that have rich media graphics, text chat,
voice-to-voice chat, streaming video and e-commerce. The environments are
focused around entertainment interests and targeted communities such as
music, sports, and general entertainment environments. In the Worlds’
Avatar Gallery, visitors select an avatar (3D character), and customize it
into a personal virtual representation of themselves. The avatar is used to
travel in and through the various virtual environments and participate in
interactive activities involving entertainment, promotions, or e-commerce.
Avatars can chat with one another, dance in a nightclub, e-shop, watch video
clips and participate in other activities.
Worlds.com is headquartered in Old Greenwich, CT. For more information on
Worlds.com, please contact Mona J. Walsh, FOCUS Partners LLC at 203-762-9216
or Michael Gallo, FOCUS Partners LLC at 212-752-9445.
Forward Looking Statements. Statements in this release contain forward-looking information about
management expectations, strategic plans, prospects, anticipated financial
or operational performance, and other similar matters. These statements are
based on the current expectations of Worlds and forecasts and assumptions
that involve risks and uncertainties. A variety of factors, many of which
are beyond Worlds control, could cause actual results to differ materially
from the expectations expressed in these statements. These factors include,
but are not limited to, the volatility of financial markets, actions and
initiatives by our current and potential competitors, events or
circumstances impacting our major customers or suppliers, our ability to
access capital markets when and as needed, the effect of current and future
legislation or regulation and additional factors described in the reports
filed by Worlds with the Securities and Exchange Commission (SEC), including
Worlds' Annual Report on Form 10-K for the year ended December 31, 1999,
which is available on the SEC's Web site, at www.sec.gov. Worlds undertakes
no responsibility to update or revise any statements in this presentation,
whether as a result of new information, future events or otherwise.
Contacts |
At the Company:
Steven G. Chrust
Chairman
203-409-2105
schrust@worlds.com
|
Investor Relations:
Michael Gallo/Mona J. Walsh
FOCUS Partners LLC
212-752-9445 or 203-762-9216
wddd@focuspartners.com
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