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American Company Spotlight

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CitySide Tickets, Inc. Website:
Click Here |
Information As Of
March 8,
2010 |
| Exchange:
Pink Sheets |
Market Cap:
25.2
Million |
| Outstanding Shares:
74.7
Million |
52 Low / High:
$0.20 / $0.95 |
|
Price March
8, 2010:
$0.338 |
CIST Recent Stock Quote and News:
Click Here |
"CIST
announced on 2/19/10 that the Company would air over five
hundred 30-second commercials on national cable channels,
including CNBC, CNN, MSNBC, Bloomberg and FOX News. CIST
expects the commercials to be seen by over 8 million people
during the 21- day schedule."
Overview
CitySide Tickets, Inc. is positioning itself to become a major player in the
event ticket market. CitySide offers a diverse range of tickets, including
concert tickets, theater tickets, and sports tickets for sale through their
website at
www.CitySidetickets.com. In addition, visitors to the company’s website can
use the site to sell tickets they have available.
Investment Highlights
- Exclusive Partnerships.
CitySide Tickets is the official authorized ticket resale
provider for the Boston Red Sox and the Boston Celtics.
Thanks to Michael DeAmicis's more than 20 years experience
in this business, CitySide has succeeded at snatching up two
of the biggest plums in the $8 billion-a-year ticket market.
DeAmicis knows how to make deals, and he has already
announced that he's personally putting together 5 exciting
contracts to take over regional ticket sellers in New York,
Florida, California and the Boston area.
- National Advertising Campaign.
CIST announced on 2/19/10 that the Company would air
over five hundred 30-second commercials on national cable
channels, including CNBC, CNN, MSNBC, Bloomberg and FOX
News. CIST expects the commercials to be seen by over 8
million people during the 21- day schedule. CIST investor
relations director Michael McCarthy has noted that the
long-term strategy is to build an expanded Boston and
national ticket presence, particularly in markets such as
New York, California and Florida.
- Significant Acquisition.
CIST announced that it had signed a letter of intent
to acquire 100% ownership in StadiumTickets.com, an
international entertainment and event ticket broker
exchange.
- Burgeoning Market Opportunity.
In terms of sizing the domestic market, a 2/08 study
by Forrester®10 estimated that online secondary ticket sales
would grow at 12% annually, reaching $4.5 billion by 2012.
The study also estimated that primary ticket sales are $22
billion in the U.S.
Profile
Cityside Tickets is a leader in nationwide ticket sales for
sporting events, concerts and theatre shows. Located just
steps from Fenway Park, Cityside is not just the go-to
destination for tickets in the Boston area, but across the
country as well, bringing consumers the best seats to the
biggest names in entertainment, sports and performing arts.
Cityside Tickets has risen quickly to become a leader in
nationwide sales for all kinds of events, from concerts to
theatre and sports, including NASCAR, MLB baseball, NBA
basketball, NFL football, NCAA college football and NHL
hockey.
Digging in to this multi-billion dollar market through the
acquisition of smaller ticket sellers throughout the country,
Cityside Tickets looks to carve out an even bigger slice of
the ticket sales pie for itself by capitalizing on the refined
and aggressive marketing know-how the Company has developed
over the years, and the state-of-the-art infrastructure it has
developed to beat out its competitors in the interests of
generating profits for the Company's investors.
A licensed and independently owned company unaffiliated with
any box officer, promoter, theater, stadium venue or sports
team/association, Cityside Tickets has a strong grasp of the
“hard to find” end of the ticket market, extending its market
coverage through a network of contacts and variety of
resources.
On 9/10/09, the Company, previously known as The UpTurn,
Inc., acquired CitySide Tickets from Mike DeAmicis in exchange
for 29 million shares of stock. After a 1:45 reverse split
effective 11/30/09, this became 644,444 shares of common
stock. Mike DeAmicis is the President and Treasurer of the
Company. Effective 11/30/09, the Company name changed to
CitySide Tickets, Inc.
In a recent press release, CEO Michael DeAmicis stated,
“CitySide Tickets is poised for incredible growth this year as
we move forward on our business strategy and capture market
share in the entertainment sector. We are pleased to bring The
Upturn into the fold and move forward with them into the
future and bring to fruition our common goals. We will
continue to provide excellent service to our buyers and
sellers during this transition.”
With an experienced management team, state-of-the-art
e-commerce website and toll-free number (1-800-ANY-SEAT),
Cityside provides consumers with easy, affordable access to
the biggest, hottest live events in America.
As part of the strategy to reach a national audience, CIST
announced on 2/19/10 that the Company would air over five
hundred 30-second commercials on national cable channels,
including CNBC, CNN, MSNBC, Bloomberg and FOX News. The
commercials are designed to increase awareness of CitySide not
only as a tool for buying tickers but also as an outlet for
ticket sellers as the site will allow sellers to set their own
sales prices and make the tickets available through a simple
online process. CIST expects the commercials to be seen by
over 8 million people during the 21- day schedule. CIST
investor relations director Michael McCarthy has noted that
the long-term strategy is to build an expanded Boston and
national ticket presence, particularly in markets such as New
York, California and Florida.
Other major news from the Company came out
on 2/22/10, when CIST
announced that it had signed a letter of intent to acquire
100% ownership in StadiumTickets.com, an international
entertainment and event ticket broker exchange. CIST, which
noted the website would go live on 3/1/10, explained that the
site is designed to enable ticket brokers to be able to
negotiate rates, see ticket availability and trade tickets
online. CEO Michael DeAmicis indicated that a key part of the
motivation was to be able to connect with ticket brokers in
Europe, thereby expanding the event offerings and enabling the
company to offer tickets globally for the most popular
artists. The acquisition consideration and timing of the
completion of the acquisition was not indicated but
StadiumTickets.com is utilizing the same toll-free telephone
call in number as CIST.
In terms of sizing the domestic market, a 2/08 study by
Forrester®10 estimated that online secondary ticket sales
would grow at 12% annually, reaching $4.5 billion by 2012. The
study also estimated that primary ticket sales are $22 billion
in the U.S.
Currently one of the top ticket sellers in the Northeast,
Cityside is poised to become a national leader in the market
through its upcoming acquisition of smaller ticket firms
across the country.
Looking at the Company's stock from a
technical perspective, it seems as though the downturn that
started about six weeks or so ago is coming to an end. The
stock looks as though it has found a new low in the upper
$0.20 cent range and while its moved up a bit since then, it's
still trading in a narrow trading range and consolidating
nicely. Volume continues to be strong and with most technical
indicators now pointing upwards, the beginning of a new
uptrend could begin shortly.
The MACD is just about to do a bullish
moving average crossover after six weeks in a bearish
position. The Full Stochastics and RSI are both inching
upwards to the important 50 point, neutral range. Both of
those indicators have also been pointing to bearish sentiment
for the most part of the last six weeks as well. All in all,
after a lengthy downtrend, CIST looks like it is about ready
to head in the opposite direction.
Not to sound like a broken record, but
at this time, we always remind our investors to protect their
investments with stop losses just in case investments don't go
in the direction they had planned. In CIST's case, there seems
to be minor support in the $0.30 cent range and stronger
support around the $0.25 cent range, so investors are
encouraged to place stop losses around those prices depending
on their level of risk tolerance. As always, these are only
our interpretations of CIST's chart, and we always encourage
our investors to do their own due diligence and consult with
their financial advisor before making any trading decisions.
Although the recently completed Live Nation / TicketMaster
merger creates significant market concentration, it also
serves to illustrate the magnitude of the opportunity in the
ticket market. CIST seeks to capitalize on this opportunity
through organic growth as well as through acquisition. As CNBC
watchers undoubtedly have seen first-hand, CIST has commenced
an aggressive marketing campaign designed to expand the
Company’s domestic reach. Additionally, CIST recently
announced a letter of intent to complete the Company’s first
acquisition. With the launch of a national marketing campaign
and the announcement of the pending acquisition, CitySide has
begun executing the strategy to become a significant national
destination for both ticket buyers and ticket sellers.
As a result of the Company's strong technical and fundamental
merits, we decided to highlight CitySide Tickets, Inc. (PINK
SHEETS:CIST) as AllPennyStocks.com's latest U.S. Company
Spotlight and we encourage our investors to take a closer look
at CIST as it pushes hard to hopefully one day be the next
Ticketmaster.
About The
Secondary Ticket Market
The lucrative secondary ticket market has undergone an
incredible transformation since the mid-1990's. Ray Artigue,
former senior VP of the Phoenix Suns, now a professor of
practice in the marketing department at the W. P. Carey School
and director of the W. P. Carey MBA Sports Business Program
said this about the ticket business.
"Beyond all doubt, the internet has revolutionized scalping,
and has turned it into a sophisticated white collar business
that works for everone -- the teams, brokers, those with
tickets and those who want tickets."
Today the new model is an electronic extension of the box
office, driven by advances in computer hardware and software
and by a spate of clever, aggressive online ticketing
companies like Ticketmaster, TicketsNow, StubHub (recently
acquired by e-Bay), Tickets.com and of course, CitySide
Tickets.
These companies all prosper by forging exclusive primary and
secondary ticketing agreements with local venues and sports
franchises.
Both primary (first time sale) and secondary tickets are
available on most of ticketing websites; but the best primary
seats for any hot event are usually reserved for season ticket
holders, corporate sponsors and VIPs with connections.
However, single-event and season ticket holders are free to
sell their tickets, usually at a considerable markup, on the
secondary online market. Think about it, if you're a season
ticket holder are you really going to go to 41 home Suns games
or 81 Diamondbacks games? I don't care if the teams are in
first place all season with the best record in sports. As
things heat up, so does the value of those tickets. There's
big money to be made in their resale.
The ticket holder can set the price, whatever the market and
site-specific regulations will bear, and the ticket reseller
charges a fee -- usually ten percent to the seller and ten
percent to the buyer.
Software upgrades have taken much of the back-alley risk out
of these transactions and have encouraged more season ticket
sales not only to corporations, but also to entrepreneurial
types, who can effortlessly sell off tickets for popular
entertainment, and both professional and collegiate sporting
events.
Savvy individual season ticket holders can defray the cost of
season tickets, and even make money, by selling a few choice
events at a much higher price. Some season ticket holders even
make it a business. Because a rabid fan is willing to pay a
huge premium for a hard-to-get ticket, a savvy season ticket
holder can take in enough money to cover the cost of an entire
season.
Why would an NFL Stadium or a major concert hall operator
agree to let an outside party sell a hunk of its best tickets?
Because they want a warm body in every seat at the highest
price they can get.
Capacity crowds adds incremental revenues to the venue and
franchise bottom line in the form of parking fees, concession
and merchandise sales, as well as coveted corporate
sponsorships.
But the real profit lies in the fact that a reseller, like
Ticketmaster, almost always gets much more for a VIP ticket to
a sold-out event than the face value of the ticket. It's very
common to see a $75 dollar ticket being resold for $350 to
$500 or even more. It's the law of supply and demand, and if
you've got a really hot seat, you can charge almost whatever
you want for it. Since the reseller pays a percentage to the
stadium, franchise or ticket holder, they actually end up
making more than if they sold it themselves
The way it works is that Ticketmaster pays the franchises and
venues an undisclosed fee to provide customers with
"convenience and heightened security", and, in return, it gets
a virtual team monopoly on their secondary ticket market.
Ticketmaster has signed about 50 of these exclusive ticketing
agreements with teams in Major League Baseball (MLB), the
National Football League (NFL), the National Basketball
Association (NBA) and the National Hockey League (NHL),
including teams like the Phoenix Suns and the San Antonio
Spurs, the New England Patriots and the Arizona Cardinals, The
Los Angeles Dodgers and the Atlanta Braves, and the Toronto
Maple Leafs and Detroit Red Wings. Ticketmaster recently
signed a league-wide agreement with the NBA to become its
"Official Ticket Provider" and "Official Secondary Ticket
Provider."
Yes, Ticketmaster has a lot of the biggies, but recently, in
an effort to capture some of that windfall money without
formally raising ticket prices, some high-profile regional
venues, local colleges and sports franchises have signed
exclusive contracts with CitySide Tickets, making them the
authorized ticket resale provider.
The two biggies that undoubtedly has Ticketmaster's attention
are the Boston Red Sox and the Boston Celtics.
Thanks to Michael DeAmicis's more than 20 years experience in
this business, CitySide has succeeded at snatching up two of
the biggest plums in the $8 billion-a-year ticket market.
DeAmicis knows how to make deals, and he has already announced
that he's personally putting together 5 exciting contracts to
take over regional ticket sellers in New York, Florida,
California and the Boston area.
The biggest news of all will be the soon-expected announcement
that CitySide is joining forces with Internet giant,
StadiumTickets.com, a move that will instantly catapult
CitySide into the entire nation-wide secondary ticket market.
With access to the StadiumTickets.com network, a loyal
CitySide customer will be able to order any available ticket
to any covered event anyplace in the country.
Selling tickets is big business, and
CitySide is pushing forward aggressively trying to become the
next Ticketmaster.
CIST ticket offerings include:
- Concerts: CIST is offering
concert tickets for acts such as Taylor Swift, Bon Jovi,
Lady Gaga, and Elton John & Billy Joel, and many others.
- Theatre: CIST is offering
tickets for Wicked, The Jersey Boys, South Pacific, and
Phantom of the Opera, among others.
- Sporting Events: CIST offers
tickets to Major League Baseball, NBA Basketball, NFL
Football, and NHL Hockey events. The Company also offers
Monster Jam tickets, National Finals Rodeo tickets, Ultimate
Fighting Championship tickets, U.S. Open Tennis Championship
tickets, and WWE-World Wrestling Entertainment tickets.
Additionally, CitySide Tickets offers tickets to NASCAR
racing events. This includes tickets to the Daytona 500 at
Daytona International Speedway as well as the Atlanta Motor
Speedway, Darlington Raceway, Indianapolis Motor Speedway,
Michigan International Speedway, Pocono Raceway, and Watkins
Glen International. This is in addition to a host of other
racetrack offerings presented on the company’s web portal.
Recent News and Press Releases
TicketNews Highlights CitySide Tickets, Inc.'s Growth
Business Wire (Mon, Mar 8)
CitySide Tickets, Inc. Announces On-Demand Availability of FOX
Business Network Live Interview
Business Wire (Thu, Mar 4)
Independent Research Firm Murphy Analytics Announces
Initiation of Coverage on CitySide Tickets, Inc.
GlobeNewswire (Wed, Mar 3)
Finance Veteran Marshall Sterman Joins Board of Directors at
CitySide Tickets, Inc.
Business Wire (Tue, Mar 2)
CitySide Tickets, Inc. CEO to Be Interviewed on FOX Business
Network Live
Business Wire (Thu, Feb 25)
CitySide Tickets, Inc. Featured in Boston Herald
Business Wire (Thu, Feb 25)
CitySide Tickets, Inc. Signs Letter of Intent for 100%
Ownership in Ticket Broker StadiumTickets.com
Business Wire (Mon, Feb 22)
SmallCapVoice.com Announces Coverage of CitySide Tickets, Inc.
at SmallCapVoice.com and in the SC Daily Newsletter
Business Wire (Mon, Feb 22)
CitySide Tickets, Inc. to Begin National Advertising Campaign
Business Wire (Fri, Feb 19)
CitySide Tickets, Inc. to be Featured in Small Cap Stock
Newsletter QualityStocks Daily
Business Wire (Wed, Feb 10)
Management
Michael DeAmicis -
President/Treasurer Michael DeAmicis was born in
South Boston in 1970 and grew up loving sports. As a teenager,
he and his friends went to the ballpark in the summer in hopes
of getting free tickets to watch the Red Sox. They also took
the opportunity to make extra money by getting a couple more
tickets than they needed and later did the same thing at
Boston Garden for Bruins and Celtics games. In 2002, with the
help and urging of his family, Mike started his own ticket
business, CitySide Tickets. After growing the business through
repeat customers and contacts in the sports world, Mike
secured a storefront on Commonwealth Ave near Fenway Park.
Mike has continued to build the employee team and strong
relationships with contacts in the sports and music world.
Leveraging CitySide Tickets’ unique strengths, Mike plans on
making CitySide Tickets a major player in the billion dollar
ticket industry.
Contact
CitySide Tickets, Inc.
514 Commonwealth Ave
Boston, Massachusetts 02215
Phone: (617) 236-1101
Fax: (617) 236-1127
www.CitySideTickets.com
Investor Relations:
QualityStocks
Ms. Astra Thomas
Phone 480.374.1336
Editor@QualityStocks.net
www.QualityStocks.net
FORWARD LOOKING STATEMENTS
This report includes forward-looking
statements that reflect CitySide Tickets, Inc. current
expectations about its future results, performance,
prospects and opportunities.
CitySide Tickets, Inc. has
tried to identify these forward-looking statements by using
words and phrases such as "may," "will," "expects,"
"anticipates," "believes," "intends," "estimates," "plan,"
"should," "typical," "preliminary," "we are confident" or
similar expressions. These forward-looking statements are
based on information currently available and are subject to
a number of risks, uncertainties and other factors that
could cause CitySide Tickets, Inc.'s actual results,
performance, prospects or opportunities to differ materially
from those expressed in, or implied by, these
forward-looking statements. These risks, uncertainties and
other factors include, without limitation, the Company's
growth expectations and ongoing funding requirements, and
specifically, the Company's growth prospects with scalable
customers, and those outlined above. Other risks include the
Company's limited operating history, the Company's history
of operating losses, consumers' acceptance, the Company's
use of licensed technologies, risk of increased competition,
the potential need for additional financing, the terms and
conditions of any financing that is consummated, the limited
trading market for the Company's securities, the possible
volatility of the Company's stock price, the concentration
of ownership, and the potential fluctuation in the Company's
operating results.
Disclaimer
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are intended to be stock ideas, NOT recommendations. Please
do your own research before investing. It is crucial that
you at least look at current SEC filings and read the latest
press releases. Information contained in this report was
extracted from current documents filed with the SEC, the
company web site and other publicly available sources deemed
reliable. For more information see our disclaimer section, a
link of which can be found on our web site. This document
contains forward-looking statements, particularly as related
to the business plans of the Company, within the meaning of
Section 27A of the Securities Act of 1933 and Sections 21E
of the Securities Exchange Act of 1934, and are subject to
the safe harbor created by these sections. Actual results
may differ materially from the Company's expectations and
estimates. This is an advertisement for CitySide Tickets, Inc. The purpose of this advertisement, like any
advertising, is to provide coverage and awareness for the
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