Grandparents.com Provides Update To Shareholders
NEW YORK, March 21, 2013
NEW YORK, March 21, 2013 /PRNewswire/ --Grandparents.com, Inc. (OTCBB: GPCM)
announced today that the Company is continuing its efforts to focus on
developing revenue generating activities led by an insurance division that
will offer health, auto, home, life and other insurance products to its nearly
2,000,000 members under relationships with insurance companies to be
established for the Company under the personal direction of Maurice "Hank"
Greenberg and his executive team at Starr International Group ("Starr"), with
whom the Company entered into a Strategic Alliance Agreement effective March
In the past year, the Company has accomplished many of its goals and even
surpassed a few. As we look back over 2012, we are proud of what we have been
able to achieve:
oOn Grandparents Day, September 9, 2012, we launched our newly designed
website. Our membership increased from approximately 350,000 members to
nearly double our projection for 2012 of 1,000,000 members. By year-end,
we had nearly 2,000,000 members.
oWe experienced significant achievements in our social media endeavors as
Track Social included Grandparents.com on the list of the Top 10 Most
Shared Brands on Facebook. We also have one of the top "Engagement
oOn the insurance front, we signed a marketing agreement with Humana and
the strategic alliance agreement with Starr.
oWe added Larry King and Deepak Chopra as our spokespersons.
oWe executed a Letter of Intent and continued development of the "Grand
Card" with the OPUS Health Division of Cegedim S.A.
oWe added Grandparents.com Travel in partnership with Priceline.com, which
we are syndicating to other websites.
oWe added content relationships with Amazon, Techlicious and Huffington
Like most early stage developing companies, we continue to face substantial
financial challenges. Although our membership ranks have increased
dramatically, our advertising revenue has significantly declined compared to
the previous year. The significant decline is due in part to challenges
facing the digital advertising industry in general, with oversaturation and
pricing pressures for placement of advertising on the Internet. Although we
have not been able to generate significant revenue from these endeavors to
date, we expect our efforts will begin to come to fruition in 2013 and
beyond. While we have made a strong effort to reduce our overhead, we
continue to seek capital to fund ongoing operations. Since the beginning of
the 4^th quarter of 2012, we raised $950,000 under a secured bridge loan and
an additional $600,000 on an unsecured basis, primarily from members of our
Board of Directors and an advisor to the Company. Going forward, we will need
to raise significant capital in order to successfully implement our business
We appreciate your continuing faith in our management team and will continue
to strive to turn our accomplishments into a healthy on-going and sustainable
Grandparents.com, Inc. (OTCBB: GPCM) is engaged with the largest and
wealthiest demographic group in the U.S. – America's 70 million grandparents.
As the # 2 website in the age 50+ segment of the population, and a social
media and marketing company with nearly 2 million members, Grandparents.com
seeks to deliver a seamless experience to its audience across all digital
platforms. Grandparents.com was recently ranked # 8 on Facebook's ten most
Various statements in this release, including those that express a belief,
expectation or intention, may be considered "forward-looking statements" that
involve risks and uncertainties that could cause actual results to differ
materially from projected results. Accordingly, investors should not place
undue reliance on forward-looking statements as a prediction of actual
results. The forward-looking statements may include projections and estimates
concerning the timing and success of specific projects. Forward-looking
statements may also include projections and estimates concerning our future
operating results and financial condition. When we use the words "will,"
"believe," "intend," "expect," "may," "should," "anticipate," "could,"
"estimate," "plan," "predict," "project," or their negatives, or other similar
expressions, the statements which include those words are usually
forward-looking statements. When we describe strategy that involves risks or
uncertainties, we are making forward-looking statements. The forward-looking
statements in this press release speak only as of the date of this press
release; we disclaim any obligation to update these statements. We have based
these forward-looking statements on our current expectations and assumptions
about future events. While our management considers these expectations and
assumptions to be reasonable, they are inherently subject to significant
business, economic, competitive, regulatory and other risks, contingencies and
uncertainties, most of which are difficult to predict and many of which are
beyond our control.
Joseph Bernstein, Co-CEO
SOURCE Grandparents.com, Inc.
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