SAN FRANCISCO, Oct. 31, 2011 /PRNewswire/ -- Banks.com, Inc.
(NYSE Amex: BNX), operator of leading financial services focused
online media properties, announced today that it has completed the
sale of the domain name, Look.com.
"As we previously announced was our intention, we are
divesting those assets that are no longer core to the finance
vertical. With the sale of Look.com, we're able to convert what has
been a non-productive asset since we exited the search business
into cash that will help build our core business going forward,"
said Dan O'Donnell, Chief Executive Officer of Banks.com. "We now
have the necessary resources to focus on what is shaping up to be a
very successful 2012 tax season, which is less than two short
months away."
Forward Looking Statements
This press release contains forward-looking statements that
involve substantial risks and uncertainties. Such forward-looking
statements are made pursuant to the "safe harbor" provisions of the
Private Securities Litigation Reform Act of 1995 and may include
statements regarding acquisitions, business estimates, future
contracts, future financial performance and results of operations,
including cost of revenues, operating expenses, interest expense,
net loss and cash flow. Unless otherwise required by law, we
undertake no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise after the date of this press release.
Additional information concerning risks and uncertainties that may
cause actual results to differ materially from those projected or
suggested in the forward-looking statements may be found in
Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K
filed with the U.S. Securities and Exchange Commission.
About Banks.com
Banks.com, Inc. owns and operates finance related, internet
media properties including: banks.com, irs.com, filelater.com and
mystockfund.com. Our properties provide users with finance-related
content and services and vendors with targeted online advertising
opportunities. Through banks.com, we provide access to current
financial content, including financial news, business articles,
mortgage rates, cd rates and financial calculators. We also provide
users access to tax related services including online tax
preparation through irs.com, online tax extensions through
filelater.com, and online stock brokerage services through
mystockfund.com.
Contact Information:
Daniel O'Donnell
President and Chief Executive Officer
Banks.com, Inc.
(415) 962-9700
SOURCE Banks.com, Inc.
