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PRZOOM - /newswire/ -
Winston-Salem, NC, United States, 2010/06/30 - SmallCapReview a leading site for news and information on small caps, penny stocks and microcaps is adding CrowdGather (CRWG) to its list of stocks "On the Radar".
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CrowdGather (CRWG) has quietly been building up a dynamic network of sites by consolidating one of the oldest and most robust groups of online users - those that post on message boards and forums. CRWG's goal is to create the world's best user experience for forum communities and world class service offerings for forum owners.
The Company believes that forums are the richest source of high value, user generated social media. CRWG also believes that nothing will ever replace their position as the help desk of the Internet.CrowdGather aims to enrich the world's search experience by giving people the ability to query and contribute to the most content-rich communities on the web. It expects its numbers to surge dramatically with the launch of this patent-pending, highly interactive and informational forum platform.
CrowdGather's 4.5 million unique visitors monthly includes smart, stylish, and inquisitive men and women looking to sites to provide the inside scoop on their passion. Since 2008, CrowdGather has grown from 9 million page views a month to over 80 million. The CrowdGather Network is made up of thousands of online communities for technology professionals, gamers, and lifestyle enthusiasts.
CRWG Investor Highlights
Announced that it has acquired Adisn, a next generation Digital Ad Agency that uses relationship data from the social web to enhance targeting, for $5.5 million, the largest acquisition in CrowdGather’s history.
In March 2010, CrowdGather, which passed its two-year anniversary in April, acquired one of the largest free forum community hosting platforms, FreeForums.org/.
As a result, CrowdGather’s network of forums now has 78-80 million monthly page views and 4.5 million monthly unique visitors according to Google analytics, an increase of over 500% from the Company’s last quarterly filing.
Announced on 4/10/10 that the Company is debt-free having strengthened its balance sheet through the voluntary conversion by investors of approximately $2.5 million in outstanding debt and accrued interest from prior financing transactions into equity.
Network traffic increased from approximately 12 million monthly page views to approximately 78 to 80 million monthly page views through the acquisitions of Nsider2.com and FreeForums.org/.
CrowdGather maintains a lower number of outstanding shares today than it did in the last fiscal quarter despite issuance of shares for debt conversion, private placement financing, warrant exercises, and acquisitions due to the cancellation of 5 million shares of CEO, Sanjay Sabnani’s beneficial holdings in CrowdGather as part of the convertible debt conversion. Current outstanding shares are approximately 40 million as compared to 41 million shares at the end of the fiscal 3rd quarter ended January 31st, 2010.
“CrowdGather’s network has experienced a substantial growth in page views in the recent fiscal quarter, and our balance sheet is the strongest it has been since our inception,” said Sanjay Sabnani, CrowdGather’s Chairman and CEO. “We intend to deploy this capital towards additional acquisitions in our pipeline and are hopeful that we will be qualified for a senior exchange listing by the end of this calendar year.”
To learn more about CRWG visit SmallCapReview.com/.
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