Network CFO
Key metrics for Network's three months ended Q1 2022 include the following highlights:
- Steady Backlog. Contracted future revenues of
$16.3M with$10.3M to be recorded in the next six months and$6M beyond seven months; - Revenues of
$428,570 (2021 -$282,155 ); - Net loss of
$853,375 -$0.01 per share (2021 Net loss:$552,821 -$0.01 per share); - Adjusted EBITDA of negative
$527,772 -$0.01 per share (2021 Adjusted EBITDA of negative$518,461 -$0.01 per share).
A summary of the significant events and operational highlights for Network's quarter ended
- The appointment of
Tom Lombardi as President ofNetwork NFT Studios , its newly created division for the development and production of non-fungible tokens – NFTs – related to media and entertainment properties; - Network's common shares have been made eligible for book-entry and depository services of the
Depository Trust Company ("DTC") to facilitate electronic clearing and settlement of transfers of its common shares inthe United States ; - Presented at the SNN Network Canada Virtual Event, with a video replay available - click here.
- Release of a new corporate presentation, which is available on its website at www.networkmediagroup.ca
Network also continued pre-production and production on:
- Three feature length documentaries;
- Two television series.
The Network premium brand of content delivers world-class casts and features visually cinematic, richly crafted storytelling. The Company's productions are consistently embraced by both audiences and critics alike, garnering awards, record ratings and unparalleled media coverage for Network and its partners. Newly formed
For additional information on
Neither the
Cautionary Statement on Forward-looking Information
Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. These statements are necessarily based upon management's perceptions, beliefs, assumptions and expectations, as well as a number of specific factors and assumptions that, while considered reasonable by management of the Company as of the date of such statements are inherently subject to significant uncertainties and contingencies that could result in the forward-looking information ultimately, perhaps materially, being incorrect. All forward-looking information in this news release involve known and unknown risks, uncertainties and other factors that are beyond the control of the Company and may cause the actual results, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. Except as required pursuant to applicable securities laws, the Company will not update these forward-looking statements to reflect events or circumstances after the date hereof.
SOURCE
© Canada Newswire, source