Business
Kidoz Inc. Announces Q1 2019 Results
ANGUILLA, BWI / ACCESSWIRE / May 15, 2019 / Kidoz Inc. (TSXV:KIDZ) (previously Shoal Games L...
About this update from Kidoz Inc
[{"type":"text","content":"Kidoz Inc. Announces Q1 2019 ResultsANGUILLA, BWI / ACCESSWIRE / May 15, 2019 / Kidoz Inc. (TSXV:KIDZ) (previously Shoal Games Ltd.) (the 'Company'), kid-tech software developer, owner of the KIDOZ content discovery network, the KIDOZ Kid-Mode Operating System (www.kidoz.net), the Rooplay edu-games platform (www.rooplay.com), and publisher of the Rooplay Originals games library, announced today its unaudited financial results for the first quarter ended March 31, 2019. All amounts are presented in United States dollars and are in accordance with United States Generally Accepted Accounting Principles.Recent Kidoz Inc. highlights include: Revenue increase to $305,956 for the first quarter of fiscal 2019 Completed the acquisition of Kidoz Ltd. Closed a private placement of US$2,000,000 Completed Company name change to Kidoz Inc. Changed TSX Venture Exchange stock ticker symbol to KIDZ Implemented the Direct Registration System (DRS) service for shareholders 'The combination of KIDOZ and Shoal Games has created a unique Company in the KidTech market,' commented Jason Williams, KIDOZ Co-CEO. 'The Acquisition enables the global reach of the KIDOZ content discovery network to be efficiently combined with the Rooplay subscription OTT platform and Rooplay Original games. The combined company is positioned to grow through our exclusive ownership of both content and distribution. The KIDOZ network reaches tens of millions of kids each month attracting top advertisers and allowing the insertion of our proprietary OTT subscription platform which we intend to scale globally. Media budgets continue to shift from Linear TV to digital platforms like KIDOZ as brands seek to engage their customers where kids spend most of their screen time. Digital media buying in the kids market is constrained by the requirement imposed on companies by regulators for the content to be COPPA (in the US) and GDPR-K (in Europe) compliant. The KIDOZ business has been focused, since inception, to meet these stringent requirements thereby making it one of the most respected and safe kids solution providers in the market. KIDOZ management believes that with the further development of both the Rooplay and KIDOZ platforms, and the integration of EdTech content into our global network, that we can create a unique and defensible position in the market.'First Quarter Financi...