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For Immediate Release
CCG Investor Relations
Crocker Coulson, President
Phone: + (1) 646-213-1915
One Horizon Group Announces Six Month Results
for the Period Ended December 31, 2012
· Expects strong growth in 2013 based on existing contracts and robust pipeline of Tier One and Tier Two Carriers
BAAR, Switzerland — May 9, 2013 — One Horizon Group, Inc. (OTC: OHGI) (“One Horizon Group” or the “Company”), which develops software application platforms that optimize mobile voice, instant messaging and advertising communications over the internet, today announced financial results for the six months ended December 31, 2012.
Financial Highlights and Recent Events
|·||Revenue was $11.7 million for the six months ended December 31, 2012, compared to $0.7 million for the same period the previous year|
|·||Income from operations was $6.6 million for the six months ended December 31, 2012, compared to a loss from operations of $1.3 million for the same period the previous year|
|·||Net income was $5.3 million for the six months ended December 31, 2012, compared to a loss of $1.3 million for the same period the previous year|
|·||In October 2012, the Company divested its satellite communications subsidiary in order to focus exclusively on software for Tier 1 and Tier 2 mobile network operators|
|·||In October 2012, Pzzapp, a European provider of VoIP apps for smartphones, commercially launched its optimized mobile VoIP service for smartphones using the Company’s VoIP and messaging platform|
|·||Completed a $6 million equity financing on February 18, 2013, of which $2.79 million has been received to date|
|·||Signed contract with Smart Communications, Inc. to roll out a Smart Communications branded Horizon Call mobile VoIP platform, bringing total number of Tier 1 and Tier 2 carriers to 14|
|·||Entered into joint venture with ZTESoft Technology Co. LTD, a subsidiary of ZTE Corp., to sell licenses for the Horizon platform to international operators and to Chinese enterprises and to roll out a new mobile VoIP platform to China smartphone market|
The following information was filed by One Horizon Group, Inc. (OHGI) on Thursday, May 9, 2013 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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