TORONTO, April 14, 2014 (GLOBE NEWSWIRE) -- DoMark International Inc. (OTCQB:DOMK), a leading smartphone, tablet, gaming accessories and technology company is pleased to report a substantially improved financial position with its filing of its 2014 Q3 ending February 28th.
Company Finances
The operational loss for the quarter was $439,888 compared to $5,760,097 for the same period last year. The operational losses for the 9 months to date was $1,473,285 compared to $7,874,320 for the same period last year. Net loss per share improved to $0.02 from $0.30 for the same period last year.
DoMark's total assets have increased to $1,555,289. These are book value assets and do not properly represent the company's real asset value. Products are mass market with large margins creating a real asset value that is substantially higher than officially posted. The Company also has a $44.6 million carry forward tax loss which will be very valuable when DoMark's transitions into a profitability in the very near future.
The Company is also pleased to announce that all operational payables are paid up to date with cash on hand and access to funds to successfully run all operations and bring DoMarks suite of products to market.
DoMark's filings are fully up to date and the Company has chosen to become fully reporting.
Product Updates
The company has invested in 5 products, but management has chosen to focus on two at present.
Monetizer 101 Online Shopping Solution (Ownership 100%, North American Distribution Rights) – As announced on 28 January, Monetizer 101 is a unique proprietary technology that collaborates media owners, retailers and consumers into an online discount shopping solution where everyone benefits. Unlike other online shopping platforms currently available, Monetizer 101 is a free advertising model for moving discounted inventory for retailers where they only pay commission for products sold. Media owners will be paid for driving traffic to retailers, retailers receive new revenue streams and increased page views on their own websites and consumers receive a wide variety of brand name products at heavily discounted prices. Progress has been better than we could have ever expected, and the Canadian site is expected to be launched within the next month, with the United States site to follow shortly thereafter.
IRcharger/Power1+ (Ownership 100%) - The InfraSol lightweight smartphone charger cases for Samsung Galaxy III, S4 and Apple iPhones has been delayed due to quality control issues at our manufacturing facility. Our project inventor/ Chief Engineer is working to resolve these issues. We hope to be in the market shortly. The packaging and our global distributor are ready as soon as we have achieved the quality standard we need for our customers.
Andrew Ritchie DoMark President & Chief Executive Officer stated, "The management has worked very hard to improve the fundamentals of the company and ensure that we have a strong lineup of world class products. I feel the future is very positive."
About DoMark International Inc.
DoMark International Inc. is a fully compliant SEC reporting publicly traded consumer electronic's company listed on the regulated US OTC Bulletin Board under the symbol DOMK. The Company works with inventors, manufacturers, distributors and retailers to bring to market globally innovative new smartphone and tablet accessories as well as online services that can significantly enhance the usage or user experience of a device or medium. Its products are designed to be compatible with all major smartphone and tablet device manufacturers including but not limited to Apple Inc., Samsung, Logitech and Quantum International. Technology development companies in which DoMark has partnered include Solawerks Inc., Imagic Ltd., Zaktek Ltd. and Barefoot Science. For more information on DoMark and its products, please visit www.domarkintl.com. Important Safe Harbour disclaimer information is available at the following link: www.domarkintl.com