HONG KONG, Nov. 14, 2005 (PRIMEZONE) -- Hong Kong-based Artificial Life, Inc. (Pink Sheets:ALIF) a leading provider of award winning mobile technology and applications, today announced its third quarter 2005 results.
"We have just gone live with our main 3G product, v-girl, in Hong Kong and are currently continuing the global roll out of our 3G product line with more telecom operators in Asia and Europe. We are in negotiations with many more 3G operators and media companies around the world and are continuously expanding our distribution network and our partnership with global and local carriers. We expect to go live in more than 10 countries in the coming months. In addition, we will announce more and exciting 3G games and entertainment applications in the coming weeks," said Eberhard Schoeneburg, CEO of Artificial Life, Inc.
Revenues for the nine month period ended September 30, 2005 were $246,231 as compared to $140,154 for the nine month period ended September 30, 2004, an increase of 76%. The increase of $106,077 was primarily due to revenue generated from product licenses for our mobile services and service fees. Revenues for the quarter ended September 30, 2005 were $37,637 as compared to $70,824 for the quarter ended September 30, 2004. The decrease of revenues of $33,187 or 47% was mainly due to the delays of product launch due to operating procedures of telecom operators.
The net loss for the quarter ended September 30, 2005 was $341,321 as compared to a loss of $277,591 for the quarter ended September 30, 2004. The net loss for the nine month period ended September 30, 2005 was $979,777 as compared to a loss of $675,874 for the nine month period ended September 30, 2004. The generation of losses is mainly due to the resumption and extension of engineering and sales and marketing activities. The basic and diluted net loss per share for the third quarter of 2005 was $0.01 as compared to $0.01 for the quarter ended September 30, 2004. The basic and diluted net loss per share for the nine month period ended September 30, 2005 was $0.04 as compared to $0.03 per share for the nine months ended September 30, 2004.
About Artificial Life
Artificial Life, Inc. (Pink Sheets:ALIF) is a public US corporation headquartered in Hong Kong and a leading global provider of award winning mobile technology, content, games and applications (www.artificial-life.com).
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Artificial Life, Inc.'s business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see the "Risk Factors" described in the Company's Annual Report or Forms 10-K, 10-K(SB) or 10-Q(SB) for the recent fiscal years. All information set forth in this press release is as of November 14, 2005 and Artificial Life, Inc. undertakes no duty to update this information unless required by law.