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Accelerize New Media, Inc. Reports Third Quarter 2013 Financial Results


Accelerize New Media, Inc. Reports Third Quarter 2013 Financial Results

Third Quarter Revenues Increased 61% Year Over Year to a Record $2.53 MM, While Year-to-Date Revenues Increased 78% to $6.95 MM

NEWPORT BEACH, CA -- (Marketwired) -- 11/14/13 -- Accelerize New Media, Inc. (OTCBB: ACLZ), owner and operator of CAKE, a highly-scalable enterprise Software-as-a-Service (SaaS) platform providing business intelligence to performance-based marketers -- from acquisition to conversion, today announced financial results for its fiscal third quarter ended September 30, 2013.

"Continued growth in net customer acquisitions contributed to record third quarter revenues," said Brian Ross, Accelerize New Media, Inc. Chairman and CEO. "Our investments in sales and marketing has helped drive these top-line results, while we continue to innovate on the product-side with an ongoing investments in R&D. As advertisers look for a higher return on investment, marketing budgets are increasingly shifting towards performance-based campaigns, and we are well positioned to benefit from these market dynamics."

Financial Highlights for Q3 2013 vs. Q3 2012


 
--  Revenues: Total revenues for the quarter increased 61% from $1.57 MM
    to $2.53 MM year over year, driven by a 58% increase in the average
    number of clients. Year to date revenues increased 78% from $3.9MM to
    $6.95 MM. International revenues also grew from 4% to 10% of revenues
    over the nine-month period year over year. We expect future revenues
    to be driven by organic growth, international expansion, and increased
    sales efforts.
--  Income from Continuing Operations: Operating income from continuing
    operations remained positive at $92,681, as management continued to
    invest in both marketing efforts and R&D initiatives. Up-front
    expenses related to developing and integrating European operations
    also impacted operating income. We plan on spending in a way that
    accelerates revenue growth and builds long-term shareholder value.
--  Balance Sheet: We ended the quarter with no long-term debt and cash
    and cash equivalents of $1,030,099 as of September 30, 2013, an
    increase from $231,926 during 2012. The increase in cash and cash
    equivalents provides us with greater flexibility to invest in growth
    initiatives, and adds to our shareholders' equity of $2,185,955. We
    strive to maintain a balanced capital structure to support consistent
    long-term growth.

About Accelerize New Media, Inc.

Accelerize New Media, Inc. (OTCBB: ACLZ) owns and operates CAKE, an enterprise SaaS (Software-as-a-Service) platform providing business intelligence to performance-based marketers from acquisition to conversion. With an easy-to-use interface and real-time reporting, performance-based marketers can quickly setup, manage, and optimize their campaigns. Seamless integration with external services through a robust API provides clients with a single dashboard that helps increase revenues, lower operational costs, and improve the ROIs of their campaigns. To learn more, visit www.accelerizenewmedia.com.

Use of Forward-looking Statements

This press release may contain forward-looking statements from Accelerize New Media, Inc. within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and federal securities laws. For example, when we say that we are well positioned to benefit from market dynamics and when we describe our expectations for our future growth, revenues, and shareholder value, we are using forward-looking statements. These forward-looking statements are based on the current expectations of the management of Accelerize New Media only, and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: changes in technology and market requirements; our technology may not be validated as we progress further; we may be unable to retain or attract key employees whose knowledge is essential to the development of our products and services; unforeseen market and technological difficulties may develop with our products and services; inability to timely develop and introduce new technologies, products and applications; loss of market share and pressure on pricing resulting from competition, which could cause the actual results or performance of Accelerize New Media to differ materially from those contemplated in such forward-looking statements. Except as otherwise required by law, Accelerize New Media undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. For a more detailed description of the risk and uncertainties affecting Accelerize New Media, reference is made to Accelerize New Media's reports filed from time to time with the Securities and Exchange Commission.


 
                                                                            
                                                                            
                         ACCELERIZE NEW MEDIA, INC.                         
                    CONDENSED CONSOLIDATED BALANCE SHEETS                   
                                                                            
                                                September 30,  December 31, 
                    ASSETS                          2013           2012     
                                               -------------- --------------
                                                 (Unaudited)        (1)     
Current Assets:                                                             
  Cash                                         $    1,030,099 $      231,926
  Accounts receivable, net                          1,051,959        673,818
  Other assets                                        101,673         42,783
                                               -------------- --------------
    Total current assets                            2,183,731        948,527
                                                                            
  Property and equipment, net                         492,061         52,297
                                                                            
  Note receivable, net                                      -         88,000
                                               -------------- --------------
    Total assets                               $    2,675,792 $    1,088,824
                                               ============== ==============
                                                                            
     LIABILITIES AND STOCKHOLDERS' EQUITY                                   
                                                                            
Current Liabilities:                                                        
  Accounts payable and accrued expenses        $      466,037 $      284,526
  Deferred revenues                                    23,800         24,616
  Convertible notes payable and notes payable               -        299,325
                                               -------------- --------------
    Total current liabilities                         489,837        608,467
                                                                            
    Total stockholders' equity                      2,185,955        480,357
                                               -------------- --------------
                                                                            
    Total liabilities and stockholders' equity $    2,675,792 $    1,088,824
                                               ============== ==============
                                                                            
(1) Derived from audited financial statements                               
                                                                            
                                                                            
                                                                            
                                                                            
                         ACCELERIZE NEW MEDIA, INC.                         
              CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS               
                                                                            
                      Three-month periods ended   Nine-month periods ended  
                            September 30,               September 30,       
                     --------------------------  -------------------------- 
                         2013          2012          2013          2012     
                     ------------  ------------  ------------  ------------ 
                      (Unaudited)   (Unaudited)   (Unaudited)   (Unaudited) 
                                                                            
Revenues:            $  2,531,479  $  1,570,948  $  6,954,281  $  3,914,033 
                                                                            
Operating expenses:                                                         
  Cost of revenue         350,028       251,219       985,308       619,745 
  Research and                                                              
   development            330,162       370,269     1,008,860       724,065 
  Sales and                                                                 
   Marketing              513,511       168,106     1,074,247       445,328 
  General and                                                               
   administrative       1,245,097       574,314     3,579,414     2,026,041 
                     ------------  ------------  ------------  ------------ 
    Total operating                                                         
     expenses           2,438,798     1,363,908     6,647,829     3,815,179 
                     ------------  ------------  ------------  ------------ 
                                                                            
  Operating income         92,681       207,040       306,452        98,854 
                                                                            
Other expenses             (6,748)      (40,908)      (25,124)     (139,996)
                     ------------  ------------  ------------  ------------ 
                                                                            
Income (loss) from                                                          
 continuing                                                                 
 operations                85,933       166,132       281,328       (41,142)
                                                                            
Income from                                                                 
 discontinued                                                               
 operations, net           65,250       276,834       165,611       248,316 
                     ------------  ------------  ------------  ------------ 
                                                                            
Net income                151,183       442,966       446,939       207,174 
                                                                            
Less dividends                                                              
 series A and B                                                             
 preferred stock                -             -             -        83,232 
                     ------------  ------------  ------------  ------------ 
                                                                            
Net income (loss)                                                           
 attributable to                                                            
 common stock        $    151,183  $    442,966  $    446,939  $    123,942 
                     ============  ============  ============  ============ 
                                                                            
Earnings per share:                                                         
Basic                                                                       
  Continuing                                                                
   operations        $       0.00  $       0.00  $       0.00  $      (0.00)
  Discontinued                                                              
   operations        $       0.00  $       0.00  $       0.00  $       0.00 
                     ------------  ------------  ------------  ------------ 
  Net income (loss)                                                         
   per share         $       0.00  $       0.01  $       0.01  $       0.00 
                     ============  ============  ============  ============ 
                                                                            
Diluted                                                                     
  Continuing                                                                
   operations        $       0.00  $       0.00  $       0.00  $      (0.00)
  Discontinued                                                              
   operations        $       0.00  $       0.00  $       0.00  $       0.00 
                     ------------  ------------  ------------  ------------ 
  Net income (loss)                                                         
   per share         $       0.00  $       0.01  $       0.01  $       0.00 
                     ============  ============  ============  ============ 
                                                                            
                                                                            
Basic weighted                                                              
 average common                                                             
 shares outstanding    57,287,742    55,745,059    56,655,376    51,219,378 
                     ============  ============  ============  ============ 
Diluted weighted                                                            
 average common                                                             
 shares outstanding    74,901,617    59,997,047    72,127,659    57,585,551 
                     ============  ============  ============  ============ 
                                                                            
                                                                            
                                                                            
                                                                            
                         ACCELERIZE NEW MEDIA, INC.                         
              CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS               
                                                                            
                                                 Nine-month periods ended   
                                                       September 30,        
                                               ---------------------------- 
                                                    2013           2012     
                                               -------------  ------------- 
                                                (Unaudited)    (Unaudited)  
Cash flows from operating activities:                                       
Net income                                     $     446,939  $     207,174 
Non-cash Discontinued operations                    (145,722)      (248,316)
Cash Discontinued Operations                               -          8,455 
  Adjustments to reconcile net loss from                                    
   continuing operations to net cash provided                               
   by operating activities:                          608,699        283,167 
  Changes in operating assets and liabilities:      (270,215)      (145,836)
                                               -------------  ------------- 
Net cash provided by operating activities            639,701        104,644 
                                               -------------  ------------- 
                                                                            
Net cash provided by (used in) investing                                    
 activities                                         (403,553)       172,472 
                                               -------------  ------------- 
                                                                            
Cash flows provided by (used in) financing                                  
 activities:                                                                
  Principal repayments on notes payable             (266,180)      (320,000)
  Proceeds from exercise of warrants and                                    
   options                                           829,371        125,887 
                                               -------------  ------------- 
                                                                            
Net cash provided by (used in) financing                                    
 activities                                          563,191       (194,113)
                                               -------------  ------------- 
                                                                            
Effect of exchange rate changes on cash               (1,166)             - 
                                               -------------  ------------- 
                                                                            
  Net increase (decrease) in cash                    798,173         83,003 
                                                                            
Cash, beginning of period                            231,926        104,750 
                                               -------------  ------------- 
                                                                            
Cash, end of period                            $   1,030,099  $     187,753 
                                               =============  ============= 

Contact: Brian Ross Chairman & CEO (310) 710-0578 brian@accelerize.com www.accelerizenewmedia.com

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