Network President
Key metrics for Network's nine months ended Q3 2023 include the following highlights:
- Contracted future revenues of
$11M with$3.1M to be recorded in the next six months and$7.9M beyond seven months; - Revenues of
$5,732,555 (2022 -$10,470,930 ); - Net loss of
$601,537 -$0.03 per share (2022 Net income of$576,403 -$0.03 per share); - Adjusted EBITDA of
$274,210 -$0.02 per share (2022 Adjusted EBITDA of$1,786,068 -$0.10 per share).
A summary of the significant events and operational highlights for Network's quarter that ended
- Successfully re-licensed a slate of library films;
- Winner of the 2023 Leo Award for Best Documentary Series for Women Who Rock;
- Announced 5 to 1 Share Consolidation, effective on
September 21, 2023 .
Network also continued pre-production and production on:
- Continued work on two feature length documentaries.
- Commenced pre-production on another four feature length documentaries.
About
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.
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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
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