Sales OnLine Direct Reports 3Q Results

Sales OnLine Direct Reports 3Q Results 


WORCESTER, Mass., Nov. 17  /PRNewswire/ -- In conjunction with the release of
its third quarter results, Sales OnLine Direct  (BULLETIN BOARD: PAID) 
announced that gross revenues were $304,700, an increase of $29,500, or 11%,
over gross revenues from the third quarter 2002.  The Company's 2003 revenues
represent an increase of approximately $260,800, or 28%, from the nine-month
period ended September 30, 2002, in which revenue was approximately $931,000.

During third quarter 2003, 97% of Sales OnLine Direct's revenues were
attributable to sales of the Company's own collectibles product and fees from
buyers and sellers through the Rotman Auction operations.  Gross sales of the
Company's own product were approximately $295,800.  Advertising and web hosting
fees were approximately $3,600 or 1% of gross revenues during the third quarter
2003. Sales of Company-owned product were $34,800 higher than the same period in
2002, offset by a $4,300 decrease in advertising and web hosting fees and $4,200
less in appraisal fees.

Gross Profits on Collectibles Sales Increase Year over Year

Gross profit from Company owned product sales for the three months ended
September 30, 2003 was $183,900, which represents an increase of $68,300 from
the comparable quarter in 2002, in which gross profit from Company owned product
sales was $115,600. Since gross margin percentages on Company-owned product were
approximately 18% better, and sales of Company owned product were $34,800 higher
in the quarter ended September 30, 2003, the Company produced $68,300 more gross
margin dollars, a 59% increase.

"Sales OnLine Direct's Rotman Auction staff has done an impressive job of
attracting top dollar bids for the more valuable collectibles items obtaining an
increase in gross margin," stated Rich Rotman, CFO of Sales OnLine Direct.

Operating Expenses, Consulting Fees Increase

Total operating expenses for the three months ended September 30, 2003 were
approximately $986,100, compared to $945,400 for the corresponding period in
2002, an increase of $40,600.  Sales, general and administrative ("SG&A")
expenses for the three months ended September 30, 2003 were approximately
$809,500, compared to $715,300 for the three months ended September 30, 2002.
The increase of $94,300 in SG&A costs include increases in consulting and
professional fees of $158,200 and other SG&A costs of $3,600, offset by a
decrease in payroll and related costs of $65,400.

The Company realized a net loss for the three months ended September 30, 2003 of
approximately $901,600, or $.01 per share, as compared to a loss of $874,600, or
$.01 per share for the three months ended September 30, 2002. For the nine
months ended September 30, 2003, the Company realized a net loss of
approximately $2,701,000, or $.02 per share, as compared to a loss of
$2,667,700, or $.02 per share for the nine months ended September 30, 2002.

A summarized reconciliation of the Company's net losses to cash used in
operating activities for the nine months ended September 30, 2003 compared to
September 30, 2002:

                                                      2003           2002
                                                      ----           ----
  Net loss                                    $(2,701,000)   $(2,667,700)

  Depreciation and amortization                  1,120,400      1,216,200
  Amortization of beneficial conversion
  Discount and debt discount                       170,800        160,900
  Common stock issued in payment services          893,800      1,246,700
  Common stock issued in payment of interest                      260,600
  Changes in current assets and liabilities        177,000      (514,700)
                                            -------------- --------------

  Net cash used in operating activities         $(339,000)     $(298,000)



"A very large part of our net loss for the year is not a cash loss, but due to
major depreciation and amortization costs that are related to the nature of our
business," said Greg Rotman, CEO of Sales OnLine Direct.

"The Company is pleased to have another quarter of year-over-year increases in
revenues," said Greg Rotman, CEO of Sales Online Direct. "While continuing to
increase our revenues, we have also invested in the research and protection of
our intellectual property, mainly our patent pending shipping calculator and
e-commerce applications."

About Sales OnLine Direct and Rotman Auction

Sales OnLine Direct, http://www.paid.com/, maintains and develops portals and
web sites for various companies and industries. The Company has focused its
efforts on the antique and collectible industry, offering the "Ask the
Appraiser" online appraisal service, marketing and publishing the "Maloney's
Antiques and Collectibles Resource Directory" and developing web sites that
enhance the user's experience. Through web hosting and managed services, Sales
OnLine Direct has provided e-business solutions to many different companies
including their own Rotman Auction division. This division sells tens of
thousands of items per year through auction, direct sales, and special events
and is a certified eBay Platinum Power Seller. The Company has developed the "AI
Suite" (http://www.auctioninc.com/) of software to increase revenues and reduce
overhead for sellers on eBay, and offers these essential e-tools to other
companies. Through recent initiatives, Sales OnLine Direct is establishing
itself as one of the most important collectibles portals, and online auction
services and technology providers to the collectibles industry. The Company's
common stock is traded on the Nasdaq OTC Bulletin Board under the symbol
"PAID."

  Contact:

  Media Contact: Julie Shepherd, Accentuate PR, [phone],
  

  Investor Contact, Dennis Evanson, [phone], 



This Press Release contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934 that are based upon current expectations or beliefs, as
well as a number of assumptions about future events, including matters related
to the Company's operations. Although the Company believes that the expectations
reflected in the forward-looking statements and the assumptions upon which they
are based are reasonable, it can give no assurance that such expectations and
assumptions will prove to have been correct. The reader is cautioned not to put
undue reliance on these forward-looking statements, as these statements are
subject to numerous factors and uncertainties, including without limitation,
successful implementation of the Company's business strategy and competition,
any of which may cause actual results to differ materially from those described
in the statements. In addition, other factors that could cause actual results to
differ materially are discussed in the Company's most recent filings, including
Form 10-KSB and 8K with the Securities and Exchange Commission. 

DATASOURCE: Sales OnLine Direct



CONTACT:   Media Contact: Julie Shepherd, Accentuate PR, [phone],

; or Investor Contact, Dennis Evanson, [phone],

, both of Sales OnLine Direct



Web site:  http://www.paid.com/

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