MediaNet Group Technologies, a DubLi Subsidiary Announces Results for Second Quarter and First Half of 2010

Posted by: Cynthia Mittelsteadt


BOCA RATON, FL -- 05/25/10 -- MediaNet Group Technologies, Inc. (OTCBB: MEDG), a worldwide marketing firm, today announced financial results for the second quarter and six months ended March 31, 2010.


For the second quarter ended March 31, 2010, revenues increased 41% to $7,030,213 compared to $4,999,126 for the second quarter ended March 31, 2009. Gross profit in the second quarter was $2,665,566, or 38% of revenues, compared to $1,958,549, or 39% of revenues, in the same period of 2009, an increase of 36% over the second quarter of 2009. Net income in the second quarter was $836,601 resulting in earnings per basic share of $0.03 and per fully diluted share of $0.00, as compared to net income for the second quarter of 2009 of $676,382, and earnings per basic share and fully diluted share of $0.03. In the second quarter of 2010, the weighted average number of basic and fully diluted shares outstanding was 28,484,206 and 339,037,717, respectively. In the same period of 2009, the weighted average number of shares outstanding was 20,674,802 on both a basic and fully diluted basis. The increase in basic shares outstanding between the periods is primarily attributable to the exercise of warrants. The substantial increase in fully diluted shares outstanding is due to our issuance of 5 million shares of Series A Convertible Preferred Stock in October 2009.


For the six months ended March 31, 2010, revenues increased 77% to $14,520,401 compared to $8,187,410 for the six months ended March 31, 2009. Gross profit in the six month period ended March 31, 2010 was $5,098,205, or 35% of revenue, compared to $2,930,317, or 36% of revenue, in same period of 2009, an increase of 36% over 2009. Net income in the first six months of 2010 was $1,293,470 resulting in earnings per basic share of $0.05 and per fully diluted share of $0.00, as compared to net income for the first six months of 2009 of $562,286, and earnings per basic and fully diluted share of $0.02. In the first six months of 2010, the weighted average number of basic and fully diluted shares outstanding was 28,484,206 and 277,167,462, respectively, as compared to the same period of 2009, when the weighted average number of shares outstanding was 20,674,802 on both a basic and fully diluted basis.


Commenting on the first half of 2010 results, Michael Hansen, President and Chief Executive Officer, stated, "We are excited that our unique operating strategy successfully maintained momentum and growth during the first half of 2010. We have successfully commenced our US operations to one single location in Boca Raton. We believe that the execution of our prudent and measurable operating strategy will continue to widen the gap between DubLi and any potential competitors during a time where many established shopping portals are struggling due to lack of flexibility and scalability. Our comprehensive operating, growth and financial strategies of the entire DubLi universe are all designed to maximize our relationship with the end consumer and provide them with the best possible experience when visiting our site. We continue to deliver a superior product that has genuine value to the consumer which we believe will drive them to return to our model. One of our competitive advantages is that our business model allows us to offer whatever is in demand at a particular moment in time, regardless of economic issues, and without having to consider ties to any vendor or manufacturer."


Kent Lee Holmstoel, Chief Operating Officer, continued "While executing on growth strategy we have simultaneously been investing considerable time, resources and capital into technology that we believe will set new trends for Internet shopping in the future. These investments include providing proper training and support of our sales and marketing engine, DubLi Network, as well as developing our global auction portal that will allow us to capitalize from consumers all over the globe. We are also focused on continuing to identify and take advantage of the changing dynamics of consumer behavior by giving them tangible aspects from which to continue to return to our portals."


DubLi.com, a global online shopping community features over 1,100 brick & click and traditional online stores its US DubLi Cash Back Rewards Mall. DubLi online shopping community members enjoy up to a 30% cash back reward if they shop and purchases products in the DubLi Cash Back Rewards Mall. A DubLi Smart Shopper saves up to 60% in discount PLUS the cash back reward. Go to http://www.itsfunfastfree.com for the best deals on the Web.


If you purchase 10 credits ($8 USD) to bid in the DubLi Auctions, you get a $500 travel voucher and a $25 gift certificate from restaurant.com Register here: http://www.itsfunfastfree.com


Contact:

Cynthia Mittelsteadt

DubLi Shopping Consultant

Skype: cynthia.ebishop

(510) 659-6330

cynthiamittel@gmail.com


http://dubli.com/2959282

DubLi Smart Shopper Save More Online

DubLi Smart Shoppers Know the Value of an 80 Cent Auction Credit
by Emerson Brown and Cynthia Mittelsteadt

How much can 80¢ get you in today's economy? "Not much" you might be thinking. However, with DubLi 80¢ has buying power greater than you could ever imagine as long as you follow our DubLi shopping strategy. What would you say if I told you that DubLI has the potential and ability to transform your 80¢ into a 26% return? That’s right 26%.......and the savings just keep growing and growing.

Well, let me introduce you to the wonderful World of DubLi, a virtual world where a shopper’s savings actually come true. DubLi is the world's first, again I say first global auction and shopping platform where the prices go down, down, down. DubLi is where the shopper experiences fun and gratification while shopping for the most demanded products online. It is also a place where all shoppers have an equal opportunity to purchase and enjoy those luxury items without paying the luxury price. And last but not least DubLi can and will change your financial future as a shopper. Now that you know "what DubLi can do for you, let me explain the "How".

DubLi has so many different ways to save. Let me introduce a strategy I use on the Xpress auction. By using an 80¢ credit in the Xpress auction that 80¢ can be transformed into a 26% return. In the Xpress auction DubLi customers spends 80¢t to look at the current price. I say current because with every bid the retail prices drops in 25¢ increments every time a customer checks the current price of an item or gift card. There are many customers checking the price of the same item that is why the price goes Down, Down, Down.

Let’s take a look at purchasing a Visa, MasterCard or AMEX cash card in the Xpress auction. Our research shows that the average gift card is sold for a 26% discount in the Xpress auction. That means a $100 gift card sells on average for $74.

If a customer does that 100 times in a single month, they will have a profit of $2,600 tax free cash in their wallet just by shopping. Now, if that isn’t crazy. I don’t know what is. DubLi is savings at its finest, when you look at it in this way. At DubLi we train our customers to be smarter shoppers, so start now and experience the value of a DubLi credit.

"THE EXPERIENCE IS IN THE VALUE OF THE CREDITS”

More Tips and Tricks on How to Save Big with DubLi

Every DubLi customer gets a Personal Shopping site for FREE. DubLi Smart Shoppers always check their DubLi Auctions and Shopping site before they purchase anything or if they need discounted gift and cash cards. There is a 95% chance they will find it in the Auction or in the Shopping Mall with over 1,500 Merchants stores. When a customer purchases almost everything for your business and your family from their personal shopping site it is possible get many products and services for FREE and maybe even make money shopping using the shopping strategies we teach our customers. These are the steps a DubLi Smart Shopper takes before they go shopping at a store:

1. Planning and Budgeting: Make a list of all the products and services you need today, for the week, for the month and in the long-term. Use the Savings Calculator in your Personal Shopping Mall to put them into categories (http://www.bsprewards.com/calculator.cfm ) and don’t forget to add Gas as an item because we have discounted gas card in the Mall and Auctions.

2. Start with the Auctions: Always check the Auction categories in the Xpress Auction and Unique Bid Auction to see if you can purchase the items on your shopping list by using an 80¢ Credit to buy the items at a 5% to 99% discount. DubLi has a “Best Price Guarantee” for all Auction items. The starting price of the items is always the lowest price found on the Web reduced by 10%. If you purchase an item from the Auction and you find it at a lower price up to 30 days later, DubLi matches the starting price (increasing your discount) and gives you 10% of the purchase price.

3. Gift Cards in the Auction: If you can’t find the item you want in the product categories check out the Gift Card Categories. Is the Merchant you wanted to buy the product from, offering a Gift Card in the Shopping Mall, if they are check the Merchant’s Mall Reward Points first to determine the percentage discount you need to get a good deal in the Auctions. If not, you can use one of your 80¢ Credits to check the price in the Xpress Auction (lowing it 25¢) If the Gift Card has been reduced enough to put cash in your wallet you can buy it.

Note: There are over 100 Merchants in the DubLi Shopping Mall that offer Reward Points on their Gift Cards, for example Macy’s gives you a 7% Reward Points. Merchants do not charge a shipping cost for Gift Cards. Check the Merchant Gift Card Reward Points before you buy it in Auction. Add the shipping cost of the Card ($5.95 to $6.95 in the USA and Canada; $12.30 in Australia/ New Zealand and $67.95 in Mexico) and the cost of the credits you used to get the Card to get the discount you need in the Auction to get a better deal than making the purchase in the Mall.

Example $100 Macy’s Gift Card:

$100 Gift Card	Macy’s Mall Discount	Shipping Cost	Credit Cost	Cost to Bid	Discount over Mall
West Coast US 1 Credit	7.00%	5.95%	0.80%	6.75%	-0.25%
Central/East Coast/AK 1 Credit	7.00%	6.95%	0.80%	7.75%	0.75%
West Coast US 5 Credits	7.00%	5.95%	4.00%	9.95%	2.95%
Central/East Coast/AK 5 Credits	7.00%	6.95%	4.00%	10.95%	3.95%

4. Cash Cards in the Auction: If you can’t find a Gift Card for the Merchant you want to purchase an item from in the Auction or in the Shopping Mall, you can purchase a discounted Cash Card from Visa, MasterCard or American Express in the Auctions. You can use one of your 80¢ Credits to check the price in the Xpress Auction (lowing it 25¢) of the Cash Card. Make sure you add the shipping cost of the Cash Card ($5.95 to $6.95 in the USA and Canada; $12.30 in Australia/ New Zealand and $67.95 in Mexico) and the cost of the credits you used to get the Cash Card to get the discount you need in the Auction to make certain that you get a Good Discount. If the Cash Card has been reduced enough to put cash in your wallet you can buy it. Here is an example of discounts needed to get a Great Deal

$100 Visa/MasterCard Debit Card	Shipping Cost	Credit Cost	% Discount Must be Higher
West Coast US 1 Credit	5.95%	0.80%	6.75%
Central/East Coast/AK/HA/PR 1 Credit	6.95%	0.80%	7.75%
West Coast US 5 Credits	5.95%	4.00%	9.95%
Central/East Coast/AK/HA/PR 5 Credits	6.95%	4.00%	10.95%
Canada 1 Credit	6.95%	0.80%	7.75%
Canada 5 Credits	6.95%	4.00%	10.95%
Mexico 1 Credit	67.95%	0.80%	68.75%
Mexico 5 Credits	67.95%	4.00%	71.95%
Australia/New Zealand 1 Credit	12.30%	0.80%	13.10%
Australia/New Zealand 5 Credits	12.30%	4.00%	16.30%

5. Reward Points on Gift Cards in the Shopping Mall: Once you got great deals in the Auctions on Gift Cards and Cash Cards use them to shop in your own Shopping Mall. Become familiar with all the Merchants in all the categories and check if they offer Gift Cards, if they do and you shop regularly in their store purchase a Gift Card from them. Your discount is the Reward Points that gets added to Your Reward Points Balance. There are over 100 Merchants and Restaurants offering Reward Points on their Gift Cards ranging from 1.5% to 8%. Merchants and Restaurants don’t charge a shipping fee to send you your Card. You will receive it within 2 to 3 business days. Plan Ahead and Save More!

6. Grocery Shopping: How much of your budget goes to food? The Grocery and Gourmet category in the Shopping Mall has many great stores and Merchants that offer Reward Point Gift Cards. If you planned ahead and bought a Gift Card from your favorite grocery store chain in the Auction or in the Mall you have already saved money. Make your shopping list for the week and go to the Instant Print Coupons button in your Shopping Mall and print the coupons for thousands of brand name products. Print the coupons for the products on your list.

7. Dining Out: Your DubLi Shopping Mall has the best deals on eating out with your family. DubLi is a partner with Restaurants.com, who gives you 60% discount on your favorite local restaurants and DubLi adds 20% in Reward Points. Put your zip code in the restaurant.com website and find restaurants in your area print the dining certificate and save 80% on eating out. You can’t prepare these meals at home for less. Your favorite chain restaurants offer Gift Cards with Reward Points up to 8%.

8. Products & Services You Purchase Every Day: Check your shopping list and you should find most of the products and services you need for your business and family in YOUR OWN SHOPPING MALL. Check the 19 categories in the in the Rewards Shopping Mall and get up to 60% discounts and up to 50% Reward Points on the items on your shopping list. Use the gift and cash cards you purchased in the Auctions or in the Mall. The Savings with turn into real cash in no time.

9. Tell-a-Friend: Every time you invite a friend, neighbor or family to become a DubLi Smart Shopper, DubLi gives you 5 Credits ($4 USD) to use in the Auctions. So spread the word that you are a DubLi Smart Shopper and your wallet is bulging with Cash You Saved from Shopping.

I am sure you are getting the picture as to how valuable your DubLi Shopping site is and how you can purchase everything you need for your business and family and spend virtually nothing and even make money as a DubLi Smart Shopper.

It is easy to join the DubLi Shopping Community where we past the power of number savings onto our members. It’s Fun, It’s Fast and It’s Free to Join! Watch this short video, register and get Free Credits to try out the Auction on us: http://dubli.com/video-2959282

Once you are registered and have redeemed your Free Credits worth 80¢ each give me a call for your own personal shopping training.

Cynthia Mittelsteadt
DubLi Shopping Consultant
(510) 659-6330
Skype: cynthia.ebishop
cynthiamittel@gmail.com