DAVIDSON, N.C. – UpSNAP, a provider of content and services for mobile devices, reported revenues of $253,977 for the quarter ending Dec. 31, a record for the new firm, but losses also increased.

UpSNAP (OTCBB: UPSN) said losses climbed to $431,574, up $66,000 from a year earlier.

The company has taken steps to reduce losses but did not disclose details. It reported cash on hand of $303,000 and $395,000 in working capital.

“We are looking for [merger and acquisition’ opportunities to build up our early leadership position in mobile advertising,” Chief Executive Officer Tony Phillipp said in a statement.