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NETWORK MEDIA GROUP ANNOUNCES 2024 SECOND QUARTER RESULTS
NETWORK MEDIA GROUP ANNOUNCES 2024 SECOND QUARTER RESULTS Canada NewsWire V...
About this update from Network Media Group Inc.
[{"type":"text","content":"\n\n\n\n NETWORK MEDIA GROUP ANNOUNCES 2024 SECOND QUARTER RESULTS\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n VANCOUVER, BC\n \n\n ,\n \n\n July 30, 2024\n \n\n /CNW/ -\n \n Network Media Group Inc.\n \n (TSXV: NTE) (OTC: NETWF) (\"Network\" or \"the Company\") today reported financial results for the second quarter ended\n \n May 31, 2024\n \n (\"Q2 2024\"), including three-month revenues of $3,006,969 (2023 -\n \n $1,266,215\n \n ), a net loss of\n \n $762,552\n \n (2023 – a net loss of\n \n $665,865\n \n ) and Adjusted EBITDA loss of\n \n $338,118\n \n (2023 – Adjusted EBITDA loss of\n \n $389,193\n \n ), and a backlog of\n \n $14.3M\n \n . On a per-share basis, the Company reports a loss of\n \n $0.04\n \n per share (2023 – loss of\n \n $0.04\n \n ) and an Adjusted EBITDA loss per share of\n \n $0.02\n \n (2023 – loss of\n \n $0.02\n \n ). The income per share figures are reported on a post-consolidation basis. The financial statements and related Management's Discussion and Analysis (\"MD&A\") can be viewed on SEDAR at\n \n\n www.sedar.com\n \n\n .\n \n\n Network President\n \n Curtis White\n \n stated, \"Our second-quarter revenues reflect an increased volume of service production for one of our partner studios. Much of our\n \n $14.7 million\n \n backlog consists of projects in which Network owns the intellectual property. Our sales team is aggressively presenting new projects to the market, while our production teams remain actively focused on our slate of deliveries throughout the second half of the year. We are inspired by the global premiere of\n \n BRATS\n \n at Tribeca, which received enthusiastic critical acclaim and generated significant buzz within the industry. As we continue to grow our production slate, including the recently unveiled\n \n Bernie Taupin\n \n feature documentary, we are excited about the opportunities for growth in the second half of the year. Stay tuned for further announcements in the weeks ahead.\"\n \n\n Key metrics for Network's six months...