DPFD Deep Field Technologies Inc (CE)

AutoMart-China (www.AutoMart-China.com), the largest independent auto aftermarket company in Beijing and a 95% owned subsidiary of Deep Field Technologies, Inc. (OTC BB: DPFD), said it has filed its Form 10-KSB for the year ended December 31, 2006, showing results impacted by a change in accounting format. Not included in revenues reported on the 10-KSB, or on AutoMart�s FY 2006 balance sheet, were current receivables of $2.4 million due from insurance companies for repairs authorized for its policy holders, which were performed at AutoMart centers. AutoMart Chairman and CEO Guisan Pang said the company�s rapid growth � including expanding from three to 12 centers in Beijing � generated substantially more business for authorized insurance-covered repairs than forecast and budgeted by the carriers. The growth in this segment of AutoMart�s business over a short period of time, along with inconsistencies in claim processing and extended payment terms offered to the insurance companies for repair claims, necessitated that the company recognize these revenues at the time and to the extent the cash is collected in accordance with accounting principles generally accepted (GAAP) in the U.S. As of December 31, 2006, approximately $3,376,000 worth of repair services had been completed with repair prices yet to be fixed and determined. �When AutoMart reports its operating results for the first and second quarters of FY 2007, we expect to report the cash collected portion of these repair prices without any related costs as all the related repair costs have been incurred and included in the statements of operations included in the Form 10-KSB,� he said. Much of AutoMart�s business involves serving customers of insurance companies. AutoMart has established evaluation and repair authorization centers in 11 of its 12 facilities, and signed agreements to serve customers of nine insurance companies. As the payment history becomes more established and repair prices become fixed and determinable on the transaction dates, AutoMart plans to change its accounting policies to recognize repair revenues for insurance claims upon the completion of services,� Mr. Pang said. Without recognizing revenues not yet received, AutoMart reported a loss of $3,295,729 for the year on cash-basis sales of $2,753,074. About AutoMart China AutoMart-China (Beijing Sino-US Jinche Yingang Auto Technological Services Ltd., www.AutoMart-China.com) is the largest independent auto aftermarket company in Beijing, and recently entered a share exchange agreement to become 95% owned by Deep Field Technologies, Inc. (OTC BB: DPFD). AutoMart is a full-service automotive repair and maintenance company operating throughout Beijing. With more than 450 employees, a typical AutoMart facility is substantially larger than most other automotive repair facilities, with its largest being nearly 100,000-square feet. Along with its focus on repair and maintenance, AutoMart owns and operates automotive insurance agencies co-located within each of its repair facilities. 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. With the exception of historical information contained herein, the matters discussed in this press release involve risk and uncertainties. Actual results could differ materially from those expressed in any forward-looking statement.