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The Tootie Pie Company, Inc. (OTCBB: TOOT)(February 14, 2008), a premium baker and seller of high-quality, handmade pies, announced yesterday the results of their operations for the three months ended December 31, 2007. Revenues for the quarter ended December 31, 2007 increased 153% to $857,370 from $339,500 for the quarter ended December 31, 2006. Revenues for the nine months ended December 31, 2007 increased 144% to $1,237,579 from $506,790 for the nine months ended December 31, 2006.
Net income increased to $171,474 for the quarter ended December 31, 2007 from a net loss of $20,525 for the quarter ended December 31, 2006 and a decrease in a net loss of $178,591 for the nine months ended December 31, 2007 from a net loss of $244,382 for the nine months ended December 31, 2006. The improvement from a net loss for the prior year period to a net income from the current period was primarily attributable to the increase in revenues generated from pie sales to our existing and new retail, corporate and distributor customers.
"I think these results, especially at this early stage of our business, speak for themselves. We realized a 20% net profit for the quarter. While this period represents our busiest season, it is our team that has to capitalize on the opportunity. I think the entire Tootie Pie team is doing a superb job of making and selling our pies and otherwise executing our overall business plan," said Don Merrill, Tootie Pie Company's President & CEO.
These improved results in revenues were driven by a high number of repeat sales to existing wholesale and retail customers; as well as continued growth of new customers in our current wholesale market area of ten states and 12 distribution centers (versus 4 this time last year). We are also beginning to see impressive results stemming from our recent emphasis on sales to multi-unit accounts.
About Tootie Pie Company
Tootie Pie Company bakes and sells high-quality, handmade pies through three basic sales channels: retail, corporate and wholesale. The retail segment serves individual consumers through in-store sales, orders via telephone and Internet on the Company's website. The corporate segment serves businesses that purchase pies as a way to promote their company through client and employee appreciation programs. The wholesale segment is made up of regional and national broad-line foodservice distributors who purchase pies and then resell them to their customers. Tootie Pie Company, Inc. is a publicly traded company whose stock is traded on the NASDAQ OTC market under the symbol: "TOOT." For additional information, or to receive emails from us, please visit www.tootiepieco.com.
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QuantRx Biomedical Corporation (OTCBB: QTXB)(February 14, 2008), a broad-based diagnostics company focused on the development and commercialization of innovative diagnostic products based on its patented technology platforms for the worldwide healthcare industry, announced earlier today that it has entered into a second development and manufacturing agreement with ALT BioScience, LLC to continue the development of their professional periodontal screening product, the second oral healthcare product in their portfolio. The products will be available for distribution in the dental and consumer marketplaces with applications including halitosis, gingivitis, and periodontal disease.
The first QuantRx-developed product is a consumer quick-check test for detection of halitosis and gingivitis and is also based on ALT BioScience's oral health platform technology. Product introduction into the professional market is anticipated in early 2009.
The U.S. dental industry revenues exceeded $85 billion in 2007 and are expected to grow 6-7% per year. U.S. sales of dental equipment are expected to growth 4% per year and exceed $8 billion by year-end 2011. The need for dental diagnostics for early detection of oral disease is valuable since available treatments are very effective in treating diseases in the early-stage; ultimately reducing overall health-care costs.
Leslie J. Herzog, President and Chief Executive Officer of ALT BioScience, stated, "There is an unmet need for a broad-based periodontal screening that will capture more patients and improve overall periodontal health. While emerging evidence continues to suggest a link between systemic diseases and oral health, our innovative pipeline will help drive awareness among consumers and professionals for better overall general health. There is a paradigm shift in the way professionals and healthcare plans approach better patient management in addition to how consumers take more ownership of their health. We are in the forefront of change with the technology to support the breadth of applications across markets." Ms. Herzog added, "We are pleased to continue our relationship with QuantRx on the development of our point-of-care diagnostics and to manufacture our technologies across applicable markets." Cindy Horton, QuantRx Vice President-Diagnostics, said, "We are pleased with the expansion of our collaboration with ALT. It revalidates QuantRx's expertise in the point-of-care diagnostics field. QuantRx's ability to develop, manufacture, and commercialize point-of-care diagnostic products puts us in a unique position of developing breakthrough products with category leaders in the medical field. We feel this partnership gives QuantRx an entry point to the fast growing oral care market. We feel this collaboration will greatly enhance our revenue base." About ALT BioScience (www.altbioscience.com) ALT BioScience, LLC is a specialty bioscience company that discovers, develops, and commercializes diagnostic and biomedical technologies focused on oral-systemic health, neurodegenerative diseases and nucleotide photoaffinity labeling for basic protein research. The basic foundation of the company, nucleotide photoaffinity labeling, is a research tool for nearly 300 research, biotech and pharmaceutical companies worldwide, and allows for the identification of enzyme-protein differences in diseases such as Alzheimer's, ALS, and cancer. Founded in 1997, ALT BioScience, LLC, is a privately held company located in Lexington, Kentucky.
About QuantRx Biomedical (www.quantrx.com)
QuantRx Biomedical Corporation (OTCBB: QTXB) is a broad-based diagnostics company focused on the development and commercialization of innovative diagnostic products based on its patented technology platforms for the worldwide healthcare industry. With synergistic expertise in the discovery of diagnostic platforms and the commercialization of products for use by healthcare professionals and consumers, QuantRx is focused on providing more accurate, reliable, and faster diagnoses that result in improved patient care.
The QuantRx strategy targets significant market opportunities estimated to be in excess of $5 billion worldwide. The Company's technology portfolio, with more than three dozen patents, patents pending and licensed patents, includes: (1) RapidSense point-of-care testing products based on QuantRx core intellectual property related to lateral flow techniques for the consumer and healthcare professional markets; (2) genome-based diagnostic chips for the laboratory and healthcare professional markets; (3) molecular imaging agents for positron emission tomography (PET) and fluorescence imaging, with initial application in cardiovascular disease, addressing significant unmet medical needs by providing clinicians with important tools for early discovery and assessment; and (4) PAD technology for diagnosis and treatment of women's health concerns and other medical needs.
QuantRx has corporate offices in Doylestown, Pennsylvania, and its research and development center in Portland, Oregon. The Company holds a majority position in FluoroPharma, Inc., a Boston-based molecular imaging company, and a significant position in Genomics USA, Inc., a Chicago-based developer of microarray technology for DNA testing.
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Ecosphere Technologies, Inc. (OTCBB: ESPH)(February 14, 2008), a diversified clean technology and water engineering services company, announced yesterday it has named Adrian G. Goldfarb as its Chief Financial Officer (CFO) effective February 11, 2008. Mr. Goldfarb succeeds J.C. "Jim" Rushing III, who has served as the Company's CFO since March 2005. Mr. Rushing will begin serving as the Company's Chairman of the Board of Directors succeeding Admiral George Sterner whose resignation as Chairman is effective March 1, 2008. Admiral Sterner will remain as a Director on the Board. Mr. Goldfarb is president and founder of WSR Consulting, Inc., an executive services and consulting firm based in Parkland, Florida.
"Mr. Goldfarb has excellent credentials, as well as significant experience in financial management and strategic planning. He has the right skills to help move the Company to the next level and we welcome him to our team," said Ecosphere's Chief Executive Officer Dennis McGuire.
Mr. Goldfarb has over 25 years of experience in a number of different roles including marketing, strategic planning and corporate finance. He has most recently been involved in the international private equity arena. He will also be supported by Michael R. Hull of WSR Consulting who has 20 years of experience in financial reporting in both the public and private sectors as an auditor as well as the CFO of two publicly traded companies.
Dennis McGuire commented, "I want to thank Jim Rushing and Admiral Sterner for their commitment and hard work over the last three years as our CFO and Chairman. They have done a tremendous job for the Company and we are grateful for their service. Of course, it goes without saying that I am delighted that both will continue serving on our Board of Directors with Jim returning as our Chairman. He previously served as Chairman prior to becoming CFO." To stay on top of new events, join Ecosphere's e-mail list by clicking the link below: http://www.b2i.us/irpass.asp?BzID=1368&to=ea&s=0
About Ecosphere Technologies
Ecosphere Technologies, Inc. (OTCBB: ESPH) is a diversified clean technology and services company dedicated to creating products that make life better. Ecosphere's mission is to identify, create and produce clean technologies that solve a significant industry challenge, improve the quality of life and the environment, and are economically viable. Ecosphere has an extensive portfolio of patented clean technologies that can be purchased and licensed for use in large-scale and sustainable applications across industries, nations and ecosystems. For more information, please visit: www.ecospheretech.com.
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