EXHIBIT 99.6
ACE MARKETING REPORTS LOSS FOR 2009 RESULTS OF OPERATION.
VALLEY STREAM, NY--(Marketwire - March 30, 2010) - Ace Marketing & Promotions,
Inc. (OTCBB: AMKT) -- announced today that it has filed its Form 10-K for its
fiscal year ended December 31, 2009.
The following table sets forth certain selected condensed statement of
operations data for the periods indicated in dollars. In addition, we note that
the period-to-period comparison may not be indicative of future performance.
Year Ended December 31
2009 2008
------------ ------------
Revenue (A) $ 3,248,132 $ 6,069,356
Cost of Revenues (B) 2,260,065 4,383,183
------------ ------------
Gross Profit (C) 988,067 1,686,173
Operating Expenses (D) 2,569,021 2,927,620
------------ ------------
Loss from operations (E) (1,580,954) (1,241,447)
Net Loss (1,577,010) (1,230,393)
Preferred Stock Dividend (F) -- 96,500
Net Loss Allocable to Common Stockholders (1,577,010) (1,326,893)
Net (Loss) per common Share (.16) (.16)
Weighted average common Shares
Outstanding 10,070,890 8,270,985
(A) The decrease in revenues of $2,821,224 in 2009 compared to 2008 is due to
the general state of the economy and the non-renewal of a major order that was
responsible for approximately 13% of revenues for the year ended December 31,
2008.
(B) Cost of revenues includes purchases and freight costs associated with the
shipping of merchandise to our customers. Decrease in cost of revenues of
$2,123,118 in 2009 is related to the general state of the economy and the
non-renewal of a major order.
(C) Gross profits will vary period-to-period depending upon a number of factors
including the mix of items sold, pricing of the items and the volume of product
sold. Also, it is our practice to pass freight costs on to our customers. The
2008 gross profit was negatively impacted by reduced gross profit achieved in
connection with the large order placed by members of a police organization.
(D) Operating expenses include payroll and related expenses, commissions,
insurance, rents, professional, consulting and public awareness fees. The
overall decrease of $358,599 was primarily due to a $266,886 decrease in stock
based compensation.
(E) Our increase in net loss for 2009 as compared to the comparable period of
the prior year was due to a substantial drop in sales due to the general state
of the economy and the non-renewal of a major order that was responsible for
approximately 13% of revenues for the year ended December 31, 2008. Our ability
to be profitable in the future is dependent upon both a turnaround in the United
States economy and the successful introduction and usage of our proximity
marketing services by our clients.
(F) During 2008, we recognized a non-cash dividend of $96,500 which related to
the terms of our private placement of Series A Convertible Preferred Stock, all
of which were converted into Common Stock in December 2008.
ABOUT ACE MARKETING & PROMOTIONS INC (OTC BB:AMKT)
Ace Marketing & Promotions Inc., based in New York, is a full-service
promotional marketing company offering a wide array of business solutions which
include; Branding and Branded Merchandise, Mobile Marketing Solutions, Website
Development, ACE CMS Platform, Print Solutions and Fulfillment. Ace Marketing &
Promotions Inc. is a leader in Proximity Marketing(SM) with proprietary
Bluetooth and Wi-Fi integrated technology that establishes the benchmark for how
multimedia messages are being delivered. Established in 1998, the Company has
built a successful, scalable business platform. Proximity Marketing(SM),
Rockzimity, and Rockzimity Marketing are service marks of Ace Marketing &
Promotions Inc. 2009. Ace's Corporate Overview is available at
http://www.acemarketing.net on the "About Us" tab. Ace has recently added
several new revenue stream models. The long-term strategic plan is for Ace to
find new opportunities while leveraging its core competencies. For a demo of
Ace's Proximity Marketing you can visit http://www.acemarketingdemo.com or
http://www.proximitymarketingus.com. For additional information, a copy of Ace's
Form 10-K and other exchange act filings can be obtained on the Internet by
going to www.acemarketing.net, clicking on links and then clicking on SEC
Filings.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF
1995.
CERTAIN STATEMENTS IN THIS PRESS RELEASE CONSTITUTE "FORWARD-LOOKING STATEMENTS"
WITHIN THE MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. SUCH
FORWARD-LOOKING STATEMENTS INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES AND
OTHER FACTORS WHICH MAY CAUSE THE ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS OF
THE COMPANY TO BE MATERIALLY DIFFERENT FROM ANY FUTURE RESULTS, PERFORMANCES OR
ACHIEVEMENTS EXPRESS OR IMPLIED BY SUCH FORWARD-LOOKING STATEMENTS. THE
FORWARD-LOOKING STATEMENTS ARE SUBJECT TO RISKS AND UNCERTAINTIES INCLUDING,
WITHOUT LIMITATION, CHANGES IN LEVELS OF COMPETITION, POSSIBLE LOSS OF
CUSTOMERS, AND THE COMPANY'S ABILITY TO ATTRACT AND RETAIN KEY PERSONNEL.
Media Contact:
Ace Marketing & Promotions, Inc.
Legend Securities, Inc.
Thomas Wagner
800-385-5790 x152
718-233-2600 x152
twagner@legendsecuritiesinc.com