NEW YORK, NY--(Marketwire - February 4, 2008) - H3 Enterprises, Inc. (PINKSHEETS: HTRE) today issued its first full monthly revenue report for 2008. The January report includes the Company's initial four revenue streams that began to flow in December of '07 with the opening of H3's first HipHopSodaShop in Tampa, as well as two new sources of sales that are expected to take off this month.
"Food and Beverages" dominated H3's HipHopSodaShop sales for January with "Competitive Online Video Gaming" revenues increasing steadily. "Branded Merchandise Sales" were also growing rapidly inside the HipHopSodaShop. H3's fourth major revenue stream is the HipHopSodaShop state-of-the-art recording booths and studio that adds yet another line of entertainment and competitive revenues and have just now begun to produce significant sales with the completion of the Company's first in-store studio that is now in full use.
New revenue sources that should begin this month include H3's "Franchising and Territorial Development Programs" which are already in high demand and interests. H3 expects to maintain triple digit growth in this and other related areas, particularly with the staggering boost that will be injected by the sheer number of new HipHopSodaShops that will be opened over the coming months. By offering valuable prizes and cash contests, both for online and offline video sports competition as well as CD music productions, growth rates should stay unusually high as should the steady flow of repeat customers.
Having already established ongoing corporate relationships and significant co-branding partnerships with corporate giants led by Microsoft and its Xbox division, H3 believes it is perfectly positioned to establish a long-term leading position for in-store and online competitive video gaming competitions across America, as well as leading the way for HipHopSodaShop "Gaming Tournaments," and other major entertainment events. H3 expects revenues from sponsored tournaments and events to grow at the fastest clip and to bring in the highest sales to profits ratio of everything offered inside and outside the SodaShops. Revenues from H3Players.com online tournaments and contests are expected to take off in late February/early March of '08.
"I am pleased to report a steady increase in all of our revenue streams in the month of January 2008," said H3 President and CEO Dr. Benjamin Chavis. "Despite the fact that we have yet to touch our marketing budget for Tampa since all 48,000 University of South Florida students were on winter break during our first month of operation, we still managed to take in over $125,000 with accelerating sales growth rates. We expect a tremendous jump in our sales and profits as we focus and spend some serious marketing dollars on the most profitable areas of our fledgling company. With our enviable group of business partners and the development of new franchisees we expect exponential growth to quickly take place in all areas of our business."
About H3 Enterprises, Inc. and the HipHopSodaShop:
H3 Enterprises, Inc. is the parent company of the HipHopSodaShop, with its corporate headquarters located at 116, John Street , New York , NY 10036 . As the first publicly traded Hip-Hop company, H3 Enterprises, Inc. is dedicated to the mission of empowering young people through investment, education and economic development.
The HipHopSodaShops are a franchise restaurant operation that brings hip-hop music, sports and community involvement to every city where they open. The HipHopSodaShop comes complete with a healthy quick service menu, merchandising, a state of the art recording studio, 30 giant LCD screens, the latest Xbox 360 live video games, and a large area dedicated to competitive on-line video gaming. The HipHopSodaShop in Tampa is over 11,000 sq ft and is a modern day cultural arts center where many forms of Hip-Hop can be expressed by patrons and embraced by the community. The HipHopSodaShops carry a message of giving back to the community in the forms of empowerment, investment, employment and the arts.
Safe Harbor: Certain information included herein may contain statements that are forward-looking, such as statements relating to plans for future expansion and other business development activities. Such forward-looking information is subject to changes and variations which are not reasonably predictable and which could significantly affect future results.