LoyaltyPoint Inc. reported an estimated $11.9 million in revenues for the first quarter ended March 31, compared to only $22,000 for the same period last year.
The Atlanta-based marketer of loyalty programs for schools and nonprofits also anticipates a net loss of $700,000-$800,000 for the period ended March 31, versus a net loss of $1.4 million for the same period in the 2003.
This marks the first quarter of operations following the Feb. 18 reverse merger between Loyalty Point (formerly known as BarPoint.com Inc.) and FunDever Inc. Prior to the reverse merger, the company had been inactive and generated no revenue in 2003.
The quarterly revenue comparisons reflect FunDever
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