According to reports HoneyMag.Com had a difficult year resulting in a net loss of over $6.7 million. The company focused on building the Honey Magazine Brand spent over $5 million on General and Administrative costs and over $1.4 million in product development:
Sahara’s CEO Philmore Anderson IV, explained the company’s vision in a letter sent to their shareholders:
Over the past year, we have been focused on broadening Sahara Media’s operating plan, developing a process for launching new brands through acquisitions and in-house builds, as well as for launching new web verticals that will drive general market traffic into our social network. We have taken a number of exciting steps to expand and develop our proprietary media holdings, positioning Sahara Media for significant future revenue and profit growth.
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