HARBOR CITY, Calif.--(BUSINESS WIRE)-- Anoteros, Inc. (OTCBB: ANOS) announced today second quarter and six months consolidated financial results for the period ending June 30, 2011.

“Most of management’s time and the company’s capital in the second quarter was spent closing and implementing the agreement and plan of merger with COA Holdings, Inc. and establishing a viable long-term marketing program,” according to President and CEO Michael J. Sinnwell, Jr. “We start the third quarter with more cash, more assets and greatly reduced liabilities,” he further noted.

Consolidated revenues were $555 in the second quarter of 2011 as Anoteros restructured its business through its Antero Payment Solutions, Inc. wholly-owned subsidiary; compared with $298,221 under the COA Holdings, Inc. business plan in the second quarter of 2010. The consolidated net loss during restructuring was $419,341, equal to a net loss per share of one cent, in the second quarter of 2011; compared with $176,247, or a net loss of less than one cent per share, in the second quarter of 2010 under COA Holdings, Inc. There were 52,134,043 weighted average number of shares outstanding during the June 30, 2011 quarter compared with 49,331,031 in the similar 2010 period.

For the six months ended June 30, 2011, consolidated revenues were $1,667; compared with $413,641 under COA Holdings, Inc. in the first half of 2010. The consolidated net loss during the 2011 period was $9,392,936, equal to a net loss per share of 21 cents, in the second quarter of 2011; compared with $1,856,667, equal to a net loss per share of four cents, in the first six months of 2010 under COA Holdings, Inc. There were 45,531,212 weighted average number of shares outstanding for the first six months of 2011 compared with 48,554,147 in the first six months of 2010.

Included in the consolidated net loss numbers for the second quarter of 2011 as well as the six months ended June 30, 2011 were certain non-cash expenses related to stock and warrants issued to employees and consultants for services provided as well as non-cash losses associated with the settlement of debt for stock and warrants.

During the second quarter of 2011, $33,946 in professional fees were related to the issuance of warrants for services as well as a net other expense of $14,771 related to the extinguishment of liabilities in exchange for stock and warrants. Absent this total non-cash expense of $48,717, the consolidated net loss would have been $370,624 during the second quarter of 2011.

During the six months ended June 30, 2011, net other expenses of $1,592,075 were related to the extinguishment of liabilities in exchange for stock and warrants. Absent these total non-cash expenses of $8,776,579, the consolidated net loss would have been $616,357 during the second quarter of 2011.

Antero Payment Solutions, Inc., a wholly-owned subsidiary of Anoteros, Inc. (OTCBB: ANOS), is a provider of information management and electronic commerce systems for the financial services industry. The Company has developed a wide range of e-commerce platforms to ensure secure electronic payments for checking, debit card, prepaid card and mobile payment applications; providing merchants with opportunities for lower cost structures and the potential to increase their client bases. For further information, go to: www.anoterosinc.com.

“Safe Harbor Statement” Under the Private Securities Litigation Reform Act of 1995: Certain statements in this news release are “forward-looking statements” within the meaning of the Private Securities Litigation Act of 1995. These forward-looking statements are based on our current expectations and beliefs and are subject to a number of risk factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks are to be included in filings with the Securities and Exchange Commission, all of which are to be available at www.sec.gov. We disclaim any intention or obligation to revise any forward-looking statements, including, without limitation, financial estimates, whether as a result of new information, future events or otherwise.

*2010 operations did not include the currently-structured Anoteros, Inc., which devoted the reporting period to restructuring and marketing according to the current business plan.

CONTACT:

Anoteros, Inc.
Anoteros I.R., 310-997-2482
Toll free: 800-449-0072
Fax: 310-954-9243
or
Greg McAndrews & Associates
Gregory A. McAndrews, 310-804-7037
greg@gregmcandrews.com

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