For the quarter ended September 30, 2011, the company reported a net loss of $348,140 compared to a net loss of $155,138 for the same period ending 2010. The increased loss is attributed to costs related to business operations in preparation for additional acquisitions and establishment of new business practices.
Total Assets of $673,111 increased compared to $440,620. Total liabilities were reduced to $486,604 from $2,047,674. The improvement in assets and liabilities were due to settlement of past debt and inclusion of additional corporate fixed assets.
Gary Polistena, CEO of Action Products International, said, "We believe our working capital position will improve with expected acquisitions and equity investments in the current and following quarters, which we expect will lead to significant increases in revenues in the fourth quarter."
About Action Products International, Inc.
Action Products International, Inc. (PINKSHEETS: APII) is a holding company engaged in the acquisition and consolidation of selected companies with strong growth prospects in the cloud services computing vertical. APII seeks to bring together companies that deliver complementary technology and services in software applications, social media and cloud computing infrastructure.
Safe Harbor Statement
This press release contains forward-looking statements. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the company's current plans and expectations, as well as its future results of operations and financial condition. Such risks include, but are not limited to, the effects of competition with existing enterprises and/or new entrants into the company's markets and industries, fluctuations in currency exchange rates, domestic and global economic conditions generally, the company's ability to obtain financing and attract suitable personnel where required to fully implement its business plan, the adoption and acceptance by the marketplace of the company's technologies and product and service offerings, the possibility of new technologies that are competitive with the company's planned product and service offerings and the effects of future political and economic developments both in the United States and abroad, among others. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of information, future events or otherwise.
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