RepeatSeat Announces An Over 300% Increase for On-line Movie Ticketing Sales
RepeatSeat intentionally stays behind the scenes to guarantee that the customers brand shines through
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RepeatSeat Ltd. Profile

The Corporation (TSXV - RPS) is a Calgary based entertainment services company that offers private label ticketing software to all markets throughout North America, including performing arts venues, movie theatres, sports venues, excursion management, tourist attractions and conferences/trade shows. The Corporation is expanding its operations to include M-Commerce transactions, including ticketing, texting and redemption. The organization was conceived to address the fundamental changes in the ticketing business.

On November 29, the Company reported Q3 2007 results with sales of $2,833,898; positive cash flow from operating activities of $7,160 in Q3 2007, a significant increase compared to a negative cash flow of ($591,192) in Q3 2006. EBITDA in Q3 2007 was a positive $358,780 compared to an EBITDA loss of ($634,269) for the corresponding period in 2006.

PRODUCTS AND SERVICES

The Corporation plans to expand the market and displace competitors with five distinct services to the ticketing market:

primary ticket sales via the venue’s box office and the Internet;

secondary ticket sales (the resale of previously purchased tickets)

subscription and season ticket renewals;

ticket exchange (the exchange of tickets for tickets for other dates)

corporate services (the administration of corporate ticket inventory).

All of these services require multi-year contracts between the Corporation and the venues that issue the tickets, and all are provided over the Internet through the venue’s website, or in person at its traditional box office. The Corporation is compensated for its services through a "transaction fee" for every ticket sold, thereby creating a recurring revenue stream through the Corporation's recurring transaction based revenue. In most instances, the Corporation collects the gross ticket transaction amount and disperses the appropriate portion to the venue following an event, thereby sheltering the Corporation from receivable risk on its contracts.

The Corporation’s TRM™ software has localization capability so its ticketing services can be delivered anywhere in the world regardless of language, currency or tax regimes. CSI, (the Corporation’s wholly owned subsidiary) derives its revenue from selling computer software and equipment for ticketing and access control for ski resorts throughout North America.

Arcade and Redemption Game Services
RepeatSeat has acquired Janda Products Canada Limited; a national supplier of arcade and redemption game services carrying on business as New Way Sales. New Way is Canada's leading provider of arcade and redemption game services to the movie theatre industry, serving Cineplex Entertainment, Empire, AMC, Landmark, Galaxy and Fortune theatres across the nation, as well major attractions sites such as Canada's Wonderland, the Skylon Centre and West Edmonton Mall. In 2006, New Way's year end audited financial statements reported revenues of $6,685,000.
Last changed at 07-May-2008 09:32AM by AGORACOM
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