myPhotopipe.com Posts 25% Increase in Second Quarter Revenues

myPhotopipe.com Posts 25% Increase in Second Quarter Revenues

Record Revenues in First Half of Year Exceed Prior-Year Levels by 30% as Popularity of Internet Ordering with Mail Delivery Continues to Expand within Digital Print Processing Market

ATLANTA, July 14 /PRNewswire-FirstCall/ -- myPhotopipe.com, Inc. (Pink Sheets: MPPC), a web-based online provider of digital photo processing and related services, today announced its operating results for the second quarter and first half of 2008.

(Logo: http://www.newscom.com/cgi-bin/prnh/20080325/CLTU023)

For the three months ended June 30, 2008, revenues increased 25% to $423,610, compared with revenues of $337,676 in the second quarter of 2007. The Company reported a net loss of ($26,757) in the most recent quarter, versus a net loss of ($5,341) in the three months ended June 30, 2007.

For the six months ended June 30, 2008, the Company's revenues rose 30% to a record $789,939, compared with revenues of $609,810 in the first half of 2007. The Company reported a net loss of ($100,482) in the first half of 2008, versus a net loss of ($51,700) in the corresponding period of the previous year.

"Over the last six months, we have strengthened our Company from a personnel perspective, and we are very pleased with the results we have already seen from these crucial hires," stated L. Douglas Keeney, Chief Executive Officer of myPhotopipe.com, Inc. "While this added to our net loss for the second quarter and first half of the year, we feel that we have improved our 'bench' to execute our plans and to match the investments made in technology in the past. We now feel that our team is in place to carry us through the balance of the year."

"We have accomplished a great deal since transitioning from film to digital, and from regional to national," added Keeney. "Revenues have grown every quarter, when compared with prior-year periods, since we unveiled our online digital photo processing model, and I am pleased to report another quarter of record revenues for the three months ended June 30, 2008."

"Our customer base has increased almost ten-fold since the end of 2005, and we are well-positioned to accelerate our rate of revenue growth as more and more professional and serious amateur photographers look to the Internet as their preferred method of ordering prints from digital images. Our future prospects are further bolstered by the growing popularity of high-end digital cameras. A couple of years ago, high-end 7+ megapixel cameras represented a tiny portion of the market, whereas such cameras accounted for 70% of industry sales in 2007. Increasingly, professional photographers are deserting the local camera store and moving their work stream online. myPhotopipe.com's stand against low-margin photo mugs and mouse pads has paid off for us, both in an ever-widening reputation for quality and our ability to focus on innovations in the 'real' product of the digital age -- the print itself."

"Our focus on technology has also helped us better serve our partners, including the Department of Homeland Security, Getty's iStockphoto, Blurb, and numerous other companies," continued Keeney. "Our Company's recent participation in http://www.photographybooknow.com/ allowed us to showcase our capabilities alongside the industry's top brands in a competition to find and reward the creator of the world's best photo book. We believe such opportunities clearly illustrate the outstanding quality that we deliver to customers, thereby expanding market recognition for myPhotopipe.com. Online ordering with mail delivery is expanding its share of the print processing market and now accounts for about one of every six prints made from digital images. This is a trend that holds great promise for myPhotopipe.com, and we look forward to continued revenue growth and a transition to sustainable profitability in the foreseeable future."

myPhotopipe.com, Inc. is one of the few "pure play" online digital photo processors. The Company serves serious amateur and professional photographers with more than 1,000 print and surface combinations. Its innovative use of digital photo tools has resulted in the creation of several unique print options for customers, including the only multi-photo prints, the first catalog of preset panoramic prints, FolioPrints with Embedded Digital Effects, and PRPrints for professional sports organizations and celebrities.

About myPhotopipe.com, Inc.

myPhotopipe.com, Inc. is a web-based online provider of digital photo processing, photo finishing, photo sharing, and related services. The Company's unique blend of 1000 print options, combined with manual print inspections and professional color management, have positioned myPhotopipe.com as one of the fastest-growing providers of digital photography services for professionals and serious amateurs.

The Company is headquartered in Atlanta, Georgia, and its common stock is listed on the OTC Pink Sheets under the symbol "MPPC". Additional information is available on the Internet at http://www.myphotopipe.com/.

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 that are subject to the "safe harbor" created by those sections. Such forward-looking statements are based upon current information and expectations regarding myPhotopipe.com, Inc. These statements speak only as of the date on which they are made, are not guarantees of future performance, and involve certain risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results could materially differ from what is expressed, implied, or forecast in such forward-looking statements.

myPhotopipe.com, Inc. assumes no obligation to update the information contained in this release. Any forward-looking statements in this press release may be materially impacted by any number of factors, any or all of which could have a negative impact on sales, operating results, financial and budgetary constraints. The statements made herein are independent statements by myPhotopipe.com, Inc. The inclusion or mention, if any, of third parties in this press release does not represent an endorsement of any myPhotopipe.com, Inc. products or services by any such third party.

                                  Contact:         L. Douglas Keeney, CEO, at (502) 419-5837 or via email at                           dougk@myphotopipe.com                                      or  

R. Jerry Falkner, CFA, RJ Falkner & Company, Inc., Investor Relations Counsel

            at (830) 693-4400 or via email at info@rjfalkner.com                        (Financial Highlights Follow)                                   MYPHOTOPIPE.COM                       CONSOLIDATED STATEMENT OF OPERATIONS                                                 Three months ending June 30,                                                     2008           2007    Net revenues                                   $ 423,610      $ 337,676   Cost of revenues                                 108,964         83,273   Gross profit                                     314,646        254,403     % of revenues                                   74.28%         75.34%    Operating expenses     Sales and marketing                             38,244         35,139     Personnel                                      126,580         72,987     General and administrative                     162,419        142,834       Total operating expenses                     327,243        250,961   Income from operations                          (12,597)          3,442     % of revenues                                   -2.97%          1.02%    Interest expense                                  11,453          8,783   Other (income) expense, net                        2,707              -   Pretax profit                                   (26,757)        (5,341)     % of revenues                                   -6.32%         -1.58%    Provision for income taxes                             -              -   Net income                                     $(26,757)       $(5,341)     % of revenues                                   -6.32%         -1.58%    Average shares outstanding                   248,943,235    248,943,235    Net income (loss) per share                    $(0.0001)      $(0.0000)                                   MYPHOTOPIPE.COM                       CONSOLIDATED STATEMENT OF OPERATIONS                                                   Six months ending June 30,                                                     2008           2007    Net revenues                                   $ 789,939      $ 609,810   Cost of revenues                                 204,940        187,715   Gross profit                                     584,999        422,095     % of revenues                                   74.06%         69.22%    Operating expenses     Sales and marketing                             98,802         23,771     Personnel                                      250,263        126,100     General and administrative                     321,139        306,607       Total operating expenses                     670,204        456,478   Income from operations                          (85,206)       (34,383)     % of revenues                                  -10.79%         -5.64%    Interest expense                                  20,395          1,326   Depreciation                                           -              -   Amortization                                           -              -   Other (income) expense, net                      (5,119)       (15,991)   Pretax profit                                  (100,482)       (51,700)     % of revenues                                  -12.72%        -12.25%    Provision for income taxes                             -              -   Net income                                   $ (100,482)     $ (51,700)     % of revenues                                  -12.72%         -8.48%    Average shares outstanding                   248,943,235    248,943,235    Net income (loss) per share                   $ (0.0004)     $ (0.0002)                                   MYPHOTOPIPE.COM                           CONSOLIDATED BALANCE SHEETS                                                   June 30,      December 31,                                                    2008            2007                                                  (Unaudited)      (Audited)                                      ASSETS   Current assets:     Cash and cash equivalents                      $21,203        $94,974     Accounts receivable, net of allowance          112,932         86,748     Prepaid expenses and other current assets       36,163         52,440       Total current assets                         170,299        234,161    Property and equipment, net                      269,301        225,067   Other assets                                      65,648         64,648       Total assets                               $ 505,248      $ 523,876                  LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)   Current liabilities:     Accounts payable                             $ 181,101      $ 197,676     Accrued liabilities                            174,579        179,220     Current portion of notes payable               119,996        135,393       Total current liabilities                    475,676        512,289    Notes payable, less current portion              479,982        475,134       Total liabilities                            955,658        987,423    Stockholders' equity (deficit)     Common stock, par value $0.001;      800,000,000 shares authorized      at June 30, 2007 and June 30,      2008 respectively; 248,943,235      and 248,943,235 shares issued      and outstanding at June 30, 2007      and June 30, 2008 respectively                388,500        388,500     Additional paid-in capital                     507,961        375,961     Accumulated equity (deficit)               (1,346,871)    (1,228,008)       Total stockholders' equity (deficit)       (450,410)      (463,547)       Total liabilities and stockholders'        equity                                    $ 505,248      $ 523,876  

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Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20080325/CLTU023
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com

Source: myPhotopipe.com, Inc.

CONTACT: L. Douglas Keeney, CEO of myPhotopipe.com, Inc.,
+1-502-419-5837, dougk@myphotopipe.com, or Investors, R. Jerry Falkner, CFA,
of RJ Falkner & Company, Inc., +1-830-693-4400, info@rjfalkner.com, for
myPhotopipe.com, Inc.

Web site: http://www.myphotopipe.com/
http://www.photographybooknow.com/

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Profile: International Entertainment