TORONTO, ONTARIO -- (Marketwired) -- 05/03/13 -- Cyberplex Inc. (TSX: CX) a leader in targeted mobile, social and online advertising today announced that it will begin operating under the name EQads.
The EQads name was derived from the Company's targeted advertising platform, which provides a smarter and more efficient way for advertisers to add customers. Adopting the EQads brand reflects the Company's commitment to build upon its new foundation and add value across the full digital advertising landscape.
"The Company's main focus has shifted away from technology consulting and development, which was synonymous with the Cyberplex brand for many years," said Geoffrey Rotstein, CEO. "We now have the most effective media buying platforms that set us apart in the industry and a new foundation for the Company. In a short time, we have already developed considerable brand recognition with our EQ division. We will now unify our platforms and continue our momentum company-wide under EQads."
The Company also announced that during the first quarter, it transitioned resources away from historical business units, in favour of building out its mobile and social media targeting capabilities to meet growing demand from advertisers. As a result, it expects lower first quarter revenues and earnings to reflect this change in focus. First quarter revenues are expected to be in the range of $1.5 million to $1.7 million, and adjusted EBITDA loss to be in the range of $900 thousand to $1 million.
"As we continue to add capabilities and leverage emerging technologies, our brand needs to convey our core strength and our extensibility," added Rotstein. "EQads marks an exciting turning point in the Company's history as we are now completely aligned with what advertisers are looking for, as well as key growth areas in this dynamic industry."
The Company will seek formal approval from its shareholders to change the Company's name at its Annual General Meeting on May 23, 2013.
Cyberplex Inc. (www.cyberplex.com) provides a smarter way to target customers. The Company uses real-time analytics and data-intensive platforms to reach the most relevant mobile, social and online audiences. Cyberplex partners with leading agencies and networks across North America who are looking to better understand their customers and to get more value out of advertising and media initiatives.
This news release may contain forward-looking statements that are based on management's current expectations and are subject to known and unknown uncertainties and risks, which could cause actual results to differ materially from those contemplated or implied by such forward-looking statements. Cyberplex is under no obligation to update any forward-looking statements contained herein should material facts change due to new information, future events or otherwise.
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