Innovativ Media Group (INMG) Posts Record Year End Financial Results
(firmenpresse) - LOS ANGELES, CA -- (Marketwired) -- 03/08/16 -- Innovativ Media Group, Inc. (OTC PINK: INMG) ("Company"), announced record financial results today for the year ending December 31, 2015. Reflecting only 2 Quarters of consolidated results since the July 2015 acquisition of the Innovativ entertainment assets while also deferring recognition of the substantial gain from the sale of its sports fantasy businesses, pending liquidation of the securities paid, the Company's revenues still dramatically increased to $98,792 compared with just $395 in fiscal 2014 and, for the first time in its history, the Company generated annual earnings with EBITA of $1,880 compared to the prior year's loss of ($98,856).
Company net Stockholder Equity increased to $2,730,447 from $225,274.
Innovativ Media Group (Innovativ) is a developer, producer and distributor of digital entertainment and other multi-media content. It has acquired many of the assets of Lux Digital Pictures including a library of feature motion pictures and, via New Broadway Cinema, develops adaptations of stage shows utilizing its trademarked DigiTheater™ Virtual Reality process. Innovativ also operates The Alien Interview Channel on YouTube, in partnership with FullScreen, Inc., is producing the new web series "Mountains of Madness" and is a principal in the Film Finance Exchange.
This press release contains certain "forward-looking" statements, as defined in the United States Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Statements, which are not historical facts, are forward-looking statements. The Company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such.
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Datum: 08.03.2016 - 12:30 Uhr
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