SMAS - news) is pleased to announce the release of its financial statements for the 2007 Q2 period ending June 30, 2007. Additionally, the company released statements for 2007 Q1 and annual statements for 2006. These releases exceed the standards for Pink Sheets' rating for Limited Information, providing greater documentation as well as all historical financial statements for Somatic Systems, Inc. The company surpassed Limited standards as a result of the information it is currently providing to Pink Sheets to achieve the highest rating of the new Pink Sheets disclosure categories.Somatic Systems, Inc. (
Somatic Systems' financial reports were prepared in a manner enabling easy transition to the auditing process. The company is preparing for audits of its financial records, as part of its plans for up-listing to the Bulletin Boards in 2008.
Somatic Systems recorded a 220% increase in gross revenues and 255% increase in gross profits for the first quarter of 2007 as compared to the same period in 2006. These gains were due largely to the company's successes in increasing enrollment in its Clinical Somatic Education Professional Training Program. Gross revenues and profits for the second quarter were 27% and 22%, respectively, of last year's figures. This is due to a difference in scheduling of one of the company's major yearly training events for 2007. The 2006 production and sales of this event were scheduled to generate revenues during the first and primarily the second quarter of that year. On the other hand, the same event for 2007 is scheduled to receive revenues throughout the third and fourth quarters of this year. This later time frame in 2007 for final sales and revenue generation is advantageous: The later time frame means revenue generation occurs during and after the expected airing of the television program about Somatic Systems' proprietary treatment and training systems on WE Television network, the Travel Channel, and 48 syndicated television stations nationwide, providing opportunity for a dramatic boost in sales.
"We have seen important groundwork building and growth for Somatic Systems in the past year; and we have yet to begin a full-scale launch of our revenue-generating clinics, or begun our nationwide rollout of those clinic chains," stated CEO Steven Aronstein. "Furthermore, our upcoming television appearances, state licensures, financial aid packages, military and corporate endeavors, and more exciting new affiliations, customer benefits, and marketing campaigns promise an exciting future and broad growth for all of our revenue divisions for years to come."
About Somatic Systems, Inc.
Somatic Systems is the worldwide center for Clinical Somatics, the ground-breaking drug-free, non-surgical approach to pain relief. This proprietary system uses natural, non-invasive movement techniques -- conducted through one-hour hands-on sessions, therapeutic exercises classes, and home exercises lasting as little as 5 minutes a day -- to relieve pain and limitation resulting from accident, trauma and repetitive stress, including back pain, knee pain, joint problems, carpal tunnel syndrome, TMJ, scoliosis, bursitis, sciatica, headaches, tendonitis and more. Clinical Somatics™ also provides performance gains and injury prevention for casual and professional athletes.
Somatic Systems is pursuing a 3-part growth strategy, consisting of a nationwide rollout of pain management Somatics Clinics; increased production and distribution of therapeutic videos, books, and other retail self-help Somatics Products; and expanded Somatics Training Programs to supply Clinic practitioners and to serve medical and orthopedic professionals and institutions and corporate programs. The company operates a suite of web sites offering Somatics information, products, resources, and opportunities, at www.somatics.org.
Safe Harbor Act
This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involves risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
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SOURCE: Somatic Systems, Inc.