Paltalk Inc (PALT)

[yaboy520]

10-Q Highlights



SNAP revenues decreased 16.1% for the nine months ended September 30, 2016 relative to the comparable period in 2015, primarily driven by a 15.2% decrease in advertising expense in 2016;

SNAP net cash used in operating activities for the nine months ended September 30, 2016 decreased by approximately $383 thousand, or 32.3%, compared to the same period in 2015, based on continued cost reductions and the ongoing realization of operating efficiencies;

SNAP announced and subsequently closed a merger with Paltalk, a leader in online and mobile video chat, creating a significantly larger, well capitalized public entity with combined annual revenues estimated at approximately $30 million;

Subsequent to the quarter end, post-merger SNAP announced that it had repaid all of its outstanding indebtedness, lifting restrictive debt covenants and eliminating burdensome interest and advisory fee payments; and

Post-merger SNAP will benefit from ample capital resources to fund growth, with the combined entity having approximately $7.9 million of collective cash and cash equivalents at June 30, 2016, prior to giving effect to the repayment of SNAP's senior secured note.

I believe STVI is gonna have a great 2017


Long and Strong