MURRIETA, Calif., Nov. 18, 2009 (GLOBE NEWSWIRE) -- Left Behind Games Inc. (OTCBB:LFBG), dba Inspired Media Entertainment, a leading publisher of Christian video games, announced that it has improved it's balance sheet with an increase in the value of assets of $159,781 (34%) and a reduction in liabilities of $727,901 (23%). An actual loss of $889,853 ($0.000 per share) reflects the company's growth in preparation for anticipated sales over the holiday selling season and well into 2010.
CEO Troy Lyndon states, "We are pleased to report that although our expenses have increased, they have not negatively impacted our balance sheet, and we are now positioned for accelerated growth. We believe this improvement in our balance sheet indicates a trend that will continue throughout the coming year."
Our focus continues to be penetration of the church marketplace. CEO Troy Lyndon states, "As I originally mentioned earlier this year, we have been working on a three-year plan to reach every church in America. We will continue this powerful, grass-roots campaign of momentum to the churches, which we believe will support long-term, continuous and sustainable national retail distribution for Christian games."
About Left Behind Games Inc.
Left Behind Games Inc., also known as Inspired Media Entertainment (www.inspiredmedia.com), has become one of the world's leading independent developers and publishers of quality interactive entertainment products that perpetuate positive values and appeal to mainstream and faith-based audiences. For samples for your church or school, you can go to www.inspiredmedia.com.
Cautionary Note Regarding Forward-Looking Statements
The statements contained herein which are not historical facts are considered forward-looking statements under federal securities laws and may be identified by words such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "potential," "predicts," "projects," "seeks," "will," or words of similar meaning and include, but are not limited to, statements regarding the outlook for the Company's future business and financial performance. Such forward-looking statements are based on the current beliefs of our management as well as assumptions made by and information currently available to them, which are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Actual outcomes and results may vary materially from these forward-looking statements based on a variety of risks and uncertainties including: our dependence on key management and product development personnel, and our ability to develop other profitable titles for current generation platforms, the timely release and significant market acceptance of our games, the ability to maintain acceptable pricing levels on our games, our reliance on a primary distribution service provider for a significant portion of our products, and our ability to raise capital if needed. Other important factors and information are contained in the Company's Annual Report on Form 10-K for the fiscal year ended March 31, 2009, in the section entitled "Risk Factors," and the Company's other periodic filings with the SEC, which can be accessed via a link from www.inspiredmedia.com on our Investor Relations page. All forward-looking statements are qualified by these cautionary statements and apply only as of the date they are made. The Company undertakes no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.