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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Good Gamer Entertainment Inc | TSXV:GOOD | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.11 | 0.10 | 0.125 | 100 | 12:32:09 |
VANCOUVER, Nov. 27, 2018 /CNW/ - Good Life Networks Inc. ("GLN", or the "Company") (TSXV: GOOD) (FSE: 4G5), a programmatic advertising technology company, today announced that third-quarter revenue increased 107% to $5,242,676 from the same quarter last year, and reported net income of $1,010,990, compared to a net income of $628,780 in the same quarter last year.
"We continue our exceptional financial performance heading into Q4, which is typically our strongest quarter and the biggest quarter of the year in general for the advertising space," said GLN CEO Jesse Dylan. "This financial performance further supports our projected revenue target and earnings objectives for the full fiscal year."
Financial Highlights:
BUSINESS UPDATE
During the third quarter GLN achieved the following milestones:
Subsequent to Third Quarter
The Company's condensed consolidated interim financial statements as at and for the nine months ended September 30th, 2018 and related management's discussion and analysis can be found on the Company's SEDAR profile at www.sedar.com. All figures are expressed in Canadian dollars unless otherwise stated.
Reconciliation of adjusted EBITDA
Adjusted EBITDA is a non-IFRS financial measure that we calculate as income (loss) before income taxes excluding depreciation and amortization, stock-based compensation expense, non- recurring non-operating expenses, interest expense, and gain or loss on financial instruments and foreign exchange.
Adjusted EBITDA is a measure used by management and the Board to understand and evaluate our core operating performance and trends. This measure differs from contribution in that adjusted EBITDA includes additional operating costs, such as general and administration expenses and marketing, but excludes funding interest costs.
The following table presents a reconciliation of adjusted EBITDA to loss before income taxes, the most comparable IFRS financial measure for each of the periods indicated:
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||
2018 | 2017 | 2018 | 2017 | |||||
$ | $ | $ | $ | |||||
Net Income (Loss) and Comprehensive | 1,010,990 | 628,780 | (1,684,776) | (481,046) | ||||
Depreciation and amortization | 2,084 | 6,251 | ||||||
Interest expense | 81,579 | 75,000 | 101,364 | 224,206 | ||||
Share-based compensation | 196,950 | 1,219,230 | ||||||
Listing fee | 1,525 | 2,319,543 | ||||||
Foreign exchange gain (loss) | (293,641) | 97,419 | (37,322) | (65,862) | ||||
Gain on forgiveness of debt | 83,102 | 321,711 | ||||||
Fair value change of derivative liability | 234,000 | |||||||
Adjusted EBITDA | 1,503,667 | 606,361 | 1,443,223 | (190,978) |
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The GLN Story
GLN is a patent pending machine learning programmatic video advertising technology company that does not collect PII (Personal Identifiable Information). GLN can serve millions of online video ads daily 3 times faster than IAB (Interactive Advertising Bureau) standards through multiple server to server integrations with both publishers and advertisers. GLN is headquartered in Vancouver, Canada with offices in the US and UK and trades on the TSX Venture Exchange under the stock symbol "GOOD" and The Frankfurt Stock Exchange under the stock symbol 4G5.
Addressable Market: The total media ad spend worldwide will rise 7.4% to $628.63 billion in 2018, according to "Global Ad Spending: The eMarketer Forecast for 2018." Digital media will account for 43.5% of that investment, thanks to rising global ecommerce spending and shifting viewership from traditional TV to digital channels. By 2020, digital's share of total advertising will near 50%.
Additional information identifying risks and uncertainties is contained in GLN's filings with the Canadian securities regulators available at www.sedar.com.
SOURCE Good Life Networks Inc.
Copyright 2018 Canada NewsWire
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