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Interact-TV Announces Financial Results From FY 2013 and Q1 FY2014; 16% Year-Over-Year Revenue Growth; Fifth Straight Quarter of Narrowing Net Loss; Management Unveils Preliminary Financial Targets and Strategies
Interact-TV Announces Financial Results From FY 2013 and Q1 FY2014; 16% Year-Over-Year Revenue Growth; Fifth Straight Quarter of Narrowing Net Loss; Management Unveils Preliminary Financial Targets and Strategies.
About this update from Interact-tv, Inc.
[{"type":"text","content":"\n \n \n Interact-TV Announces Financial Results From FY 2013 and Q1 FY2014; 16% Year-Over-Year Revenue Growth; Fifth Straight Quarter of Narrowing Net Loss; Management Unveils Preliminary Financial Targets and Strategies\n \n \nInteract-TV Announces Financial Results From FY 2013 and Q1 FY2014; 16% Year-Over-Year Revenue Growth; Fifth Straight Quarter of Narrowing Net Loss; Management Unveils Preliminary Financial Targets and Strategies\n\nCash Flow Also Positive Four out of Six Past Quarters\n\n \n LOS ANGELES, CA--(Marketwired - Jun 5, 2014) - Interact-TV Incorporated (OTC Pink: ITVI) (PINKSHEETS: ITVI) is pleased to release its financial results from 2013 and announce that gross revenue for the fiscal year ended December 31, 2013 has grown 16% over the year-ended December 31, 2012 ($355,146 gross revenue during 2013 vs. $304,000 during 2012).\n The company is also pleased to release its Q1 FY2014 announcement that it has achieved a fifth straight quarter of narrowing its quarterly net loss, as well as being cash flow positive three out of the past five quarters.\n As disclosed in its most recent quarterly disclosure statement, published through the OTC Disclosure and News Service, certain of Interact-TV's key financial indicators have been improving, as follows:\n Three Months Ended December 31, 2012 (Q4 FY2012)\n Net Loss (73,920)\n Net Change in Cash +$409\n \n Three Months Ended March 31, 2013 (Q1 FY2013)\n Net Loss ($64,529)\n Net Change in Cash +$4,581\n \n Three Months Ended June 30, 2013 (Q2 FY2013)\n Net Loss ($48,720)\n Net Change in Cash +$25,328\n \n Three Months Ended September 30, 2013 (Q3 FY2013)\n Net Loss ($45,985)\n Net Change in Cash ($24,103)\n \n Three Months Ended December 31, 2013 (Q4 FY2013)\n Net Loss ($39,800)\n Net Change in Cash ($6,315)\n \n Three Months Ended March 31, 2014 (Q1 FY2014)\n Net Loss ($23,248)\n Net Change in Cash +$1,031\n While the company's accumulated deficit continues to grow, it reports a narrowing of its net loss, quarter over quarter, for six straight quarters, as well as an increase in its cash position for four of the past six quarters.\n Helping with this momentum, as Interact-TV has been reporting in its quarterly and annual disclosures, is that, beginning with the month of July 2013, company President Robert Bryan has been waiving his monthly compensation, saving the com...