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Worcester, Massachusetts - (Cheap Web Hosting Directory) - April 6, 2007 - Celebrity web hosting and services provider, Paid, Inc., has released its financial results for fiscal year 2006, citing business revenue at a record $8,049,000, compared to $4,920,000 in 2005.

With an an increase of 64%, the company recapped its significant achievements for the year, indicating that business improved significantly in 2006, with dramatically expanded merchandising and product offerings, and growth in sales related to tours of performing artists.

Significant achievements in 2006 included:

• Increased revenue 64% while reducing operating expenses 8%
• Net loss decreased by $1,794,000
• Retired $1.15 million remaining long-term debt
• Opened new corporate office in Boston
• Contracts signed with a number of major performing artists and entertainment organizations.

Greg Rotman, CEO of Paid, Inc. stated, “We’ve made huge strides in our business model in the past three years. In 2006, we executed our core business plan and achieved our 2006 goals of expanding our client base and increasing revenues. We’ve started to realize the expected economies of scale in our highly scaleable business model, which has enabled us to progress toward profitability. From a longer-term perspective, in 2006, we leveraged our 2004 and 2005 investments in Paid’s future to build the Company and our management team while eliminating reliance on long-term debt. With an improved balance sheet, we’ve placed the Company in a stronger financial position in preparation for the growth phase we are now in. We are well positioned to escalate our business growth into 2007 and beyond, building upon our celebrity services business model and growing our technology-related ecommerce revenue streams.”

In 2006, Paid’s celebrity services business generated revenue of $7,278,000, from fan experience packages, fan club memberships and related merchandise and $247,300 from sports marketing revenues compared to 2005 celebrity services revenue of $3,288,000 and sports marketing revenue of $357,200. Sales of the Company’s own product and fees from buyers and sellers through the Company’s Rotman Auction operations declined to $473,000 in 2006, from $1,301,000 in 2005, due to a management decision late in 2005 to streamline sales channels for Company-owned product and, in turn, terminating sales on eBAY, in an effort to reduce related overhead.

Total operating expenses for 2006 were $4,185,000, compared to $4,561,000 for 2005, a decrease of $376,000 or 8%. Net loss decreased by $1,794,000 from 2005 to a net loss of $1,704,000 in 2006, while the Company retired its remaining $1.15 million in long-term debt in 2006. Paid is now free of all long-term debt. The basic and diluted loss per share for 2006 is $.01 per share, compared to $.02 per share in 2005.

Rich Rotman, CFO and COO of Paid noted, “During 2006, as previously projected, our staff growth slowed as our client base expanded due to efficiencies of scale, and in 2007 we expect to further streamline our operations. Additionally, our technology costs and related technical staff associated with fan club tour ticketing in 2005 were one-time charges that did not recur in 2006, with the exception of ongoing maintenance and regular upgrades.”

Keith Garde, President of Paid celebrity services added, “We’ve rounded out our service offerings with the addition of more merchandising, marketing and fan community capabilities and our new video and film production services. We expect to continue to add new technologies and services to our offerings that will be beneficial to our clients and enhance their fans’ experiences. With an experienced team in place, we grew sales by more efficiently and proactively promoting and marketing our clients and their merchandise.”

Mr. Greg Rotman concluded, “We see significant potential for Paid in merchandising and celebrity services and expect to build upon the momentum in those areas in 2007. In addition, we believe we will grow our client base with top quality performing artists and sports and entertainment entities in 2007 and we expect to start generating revenue from licensing agreements related to our online shipping calculation business method for which a patent was recently allowed by the U.S. Patent and Trademark Office. We expect to see our business development efforts in multiple areas coming to fruition and positively impacting the bottom line in 2007.”

Paid, Inc.’s celebrity services provides famous people with official web sites and fan club services that include e-commerce storefronts, ticketing and fan experience packages, and web site content. The Company also sponsors autograph signing events and other sports marketing services for sports clientele. Using proprietary patent-pending technology, Paid’s patent-pending AuctionInc brand shipping calculation and auction management software and services are utilized to streamline online auctions, ecommerce and web site development and hosting.

For more information about Paid, please visit: www.paid.com.

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