United States Oil and Gas Corp Reports Financial Results for Quarter

United States Oil and Gas Corp (OTCQB: USOG) (PINKSHEETS: USOG) announced the filing of its Quarterly Report on Form 10-Q and its financial results for the three and six months ended June 30, 2011. The following are highlights from the report.

Balance sheet ratios and working capital improved during the three months ended June 30, 2011 as overall debt was reduced.

The Company used a modified EBITDA number as a key performance measure. Modified EBITDA is net income adjusted by removing tax expense, interest expense, depreciation and amortization expense, amortization of discount on convertible debt, and gain and loss on the conversion of debt. The Company feels that this provides an accurate and useful measure of performance because it eliminates non-cash expenses that are largely unrelated to operations. The following presents a reconciliation of modified EBITDA to Net Income:For those unable to call in, a digital instant replay will be available after the call until Sept. 01, 2011.About Intcomex[Table Omitted]Webcast Link: Investors are invited to listen to a live webcast of the conference call which can be accessed through the investor section of the CDC Software website at www.cdcsoftware.com. The call can also be accessed through www.streetevents.com. To listen to the call, please go to the website at least 15 minutes prior to the call and download any necessary audio software.The Company reported revenue of $8.7 million, a 45% increase compared to $6.0 million in restated sales for the second quarter of 2010. Net loss for the quarter was $665,000 compared to a $16,000 gain during the same period in 2010.Intcomex is a United States-based value-added distributor of information technology products to Latin America and the Caribbean. Intcomex distributes computer components, peripherals, software, computer systems, accessories, networking products, mobile devices and digital consumer electronics to more than 44,000 customers in 41 countries.

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