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Gener8 Announces its Second Quarter Results - Q1 Revenue Up 51%
Monday, September 15, 2014Company Profile | Follow Company
Vancouver, BC, September 15, 2014--(T-Net)--Gener8 Media Corp. (CSE: GNR) announced the release of its unaudited financial results for the second quarter ended June 30, 2014. All figures are in Canadian dollars.
Q2 2014 Financial Highlights
Q2 2014 Operational Update
Q2 2014 Financial Summary
Three months ended | ||
June 30, 2014 | June 30, 2013 | |
Revenue | $6,346,007 | $3,384,243 |
Net income (loss) and comprehensive income (loss) attributable to the Shareholders of the Company | 503,811 | (4,451,338) |
Basic income (loss) per share | $0.01 | $(0.11) |
FFD Transaction Update
Gener8 continues to work towards closing its partnership agreement with Tianjin Fu Feng Da Movie & Television Technology Investment and Development Co., Ltd. (“FFD”). The final stage of government approval for the transaction is required from China's State Administration of Foreign Exchange (“SAFE”). The requisite documentation was filed by FFD with SAFE on August 1, 2014. Once the SAFE certification is received by FFD, the parties can proceed toward closing.
FOR MORE INFORMATION, PLEASE CONTACT:
Danielle Rockel
Vice President of Corporate Affairs
danielle@gener8.com
604-669-8885
About Gener8
Gener8 Media Corp. is a media technology company led by a team of gaming industry veterans. At the forefront of postproduction, the Company earned its stripes by developing a proprietary 3D conversion technology, garnering high-profile credits including “300: Rise of an Empire,” “Godzilla,” and “Maleficent.” Gener8 has since expanded into offering visual effects services and a cloud-based data management and analytics solution called Cumul8. With its focus on developing disruptive solutions that combine design and technology, Gener8 funded and then acquired a majority interest in Reelhouse Media Ltd., an online entertainment distribution start-up. Gener8s head office is located in Vancouver, British Columbia and currently has over 200 employees. Visit the company website at http://www.gener8.com.
The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities.
The CNSX does not accept responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
Except for statements of historical fact, this news release contains certain forward-looking statements within the meaning of applicable securities law. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" occur. In particular, forward-looking statements in this press release include, but are not limited to, statements with respect to: circulation of a letter of transmittal and the instructions contained therein; use of the private placement proceeds and the resumption of trading of the Shares on the Canadian National Stock Exchange on April 30, 2013. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements including, without limitation, risks with respect to: general economic conditions in Canada and globally; film industry conditions; potential delays or changes in plans with respect to deployment of services or capital expenditures; possibility that government policies or laws may change; the development, implementation and execution of the Company's strategic vision; and legal and/or regulatory risks.
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