24/7 Real Media Receives Unqualified Audit Opinion for 2002 Financial Statements; Opinion Follows Company's Improved Financial Results.Business Editors NEW YORK--(BUSINESS WIRE)--April 3, 2003 24/7 Real Media Inc. (Nasdaq:TFSM), a leading provider of interactive marketing services and technologies, today announced that on March 31, 2003, it filed with the Securities and Exchange Commission its Annual Report on Form-10K for the year, ended December 31, 2002, with an unqualified opinion Unqualified opinion An independent auditor's opinion that a company's financial statements comply with accepted accounting procedures. Antithesis of qualified opinion. unqualified opinion See clean opinion. on its financial statements by independent auditor Independent Auditor An external auditor with a certified public accounting designation that qualifies him or her to provide an auditor's report. Notes: These auditors aren't affiliated with the company being audited. , Goldstein Golub Kessler LLP LLP - Lower Layer Protocol . For more complete information on the Company's financial position, the Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. , and particularly the financial statements and the footnotes contained therein, should be read in their entirety. The Company explained that an unqualified opinion indicates that the financial statements present fairly in all material respects the financial position, results of operations and cash flow of the Company in accordance with generally accepted accounting principles The standard accounting rules, regulations, and procedures used by companies in maintaining their financial records. Generally accepted accounting principles (GAAP) provide companies and accountants with a consistent set of guidelines that cover both broad accounting , without a "going concern" explanatory paragraph regarding the Company's ability to continue to meet its obligations over the next twelve months. "This is confirmation that the company has turned the corner," said David J David J. Haskins (b. April 24, 1957, in Northampton, England) is a British alternative rock musician. He was the bassist for the seminal gothic rock band Bauhaus. Life and work . Moore, chief executive officer of 24/7 Real Media, Inc. "We have refined our business strategy to focus on our product offerings with the most promising growth potential, and thus shown impressive renewed revenue growth while dramatically reducing operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. . I commend 24/7 Real Media's employees for their hard work and contribution to our financial stability. We have executed very well, despite unfavorable market conditions. Our improved financial results and fund raising efforts in 2002 have allowed us to overcome the going concern hurdle and focus on success in 2003 and beyond." Norman Blashka, chief financial officer of 24/7 Real Media, Inc., added, "We believe our improved financial position will help us execute our business plan in 2003." About 24/7 Real Media, Inc. 24/7 Real Media provides marketing and technology solutions to online marketers and publishers to maximize customer relationships and revenue. Products and services include Internet ad serving technology, online media representation, integrated marketing solutions comprised of network and site specific advertising, online promotions and search engine optimization Designing a Web site so that search engines easily find the pages and index them. The goal is to have your page be in the top 10 results of a search. Optimization includes the choice of words used in the text paragraphs and the placement of those words on the page, both visible and hidden . The company is headquartered in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , with offices in other major U.S. cities, Europe and Canada. For more information, please visit www.24/7realmedia.com. Caution concerning forward-looking statements: This news release includes certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These statements are based on management's current expectations and are naturally subject to uncertainty and changes in circumstances. Actual results may vary materially from the expectations contained herein due to changes in economic, business, competitive and/or regulatory factors. More detailed information about those factors is set forth in our filings with the Securities and Exchange Commission. In addition, the following factors, among others, could cause actual results to differ materially from those described herein: enhanced competition, the potential for impairment of relationships with employees or major customers, loss of faith in Internet advertising, international risks, and other economic, business, competitive and/or regulatory factors affecting the businesses of 24/7 Real Media. All information in this release is as of March 27, 2003. The Company is not under any obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise. |
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