Business
One Horizon Group Issues Business Update for the First Quarter Ended March 31, 2019
One Horizon Group Issues Business Update for the First Quarter Ended March 31, 2019.
About this update from Touchpoint Group Holdings, Inc.
[{"type":"text","content":"\nMIAMI, May 21, 2019 (GLOBE NEWSWIRE) -- One Horizon Group, Inc. (OTCQB: OHGI) (Company or One Horizon) today provided a business update and reported financial results for the first quarter ended March 31, 2019.\n First Quarter 2019 Highlights: Sold the Company’s majority interest in Banana Whale Studios, PTE, Ltd. (Banana Whale) for $2.0 million (USD) realizing an approximate $930,000 gainEntered into an agreement to acquire a majority interest in MAHAM LLC (MAHAM), an innovative, technology-driven yoga studio with plans to launch a streaming platform for its yoga classesEntered into a preliminary, non-binding letter of intent to acquire a majority interest in Redspots Creative (Hong Kong) Company Limited (Redspots Creative), a multi-media production company, in a stock transaction based on post-closing, future earnings Mark White, Chief Executive Officer of One Horizon, stated, “We made significant progress during the first quarter. We began the year with the sale of our majority interest in Banana Whale, resulting in a gain of $930,000, as we decided to dedicate more of our attention to the various opportunities surrounding our 123Wish Platform.  Towards this end, in February, we entered into an exchange agreement with the members of MAHAM.  MAHAM is transforming the yoga industry by implementing 60-minute, high-intensity yoga ‘flow’ classes. These yoga classes are conducted with upbeat hip-hop and pop music that attracts celebrities, influencers and wellness-minded crowds in the prime location of Miami Beach, Florida. We intend to bring MAHAM yoga from Miami Beach to the world though our 123Wish Platform technology and streaming media capabilities. At the same time, we are diligently exploring potential white label contracts for our 123Wish Platform.” “Within our Browning Productions & Entertainment business, the expansion of our 'Warrior' franchise is an important element of our strategy. The first season (12 episodes) of Wine Warriors, the anchor for our Warriors series franchise, which aired on A&E’s FYI Network in 2016 and 2017, is now available on Amazon Prime.  We are also working on production of Whisky Warriors, which is in pre-production and is scheduled to launch later this year. More spin-offs are expected to come from this expanding franchise in th...