Thursday, March 22, 2018 8:34:35 PM
INNOVATIV MEDIA (INMG) RELEASES YEAR END FINANCIAL RESULTS
Company posts 4th Quarter Earnings as Revenue and Assets Grow
LOS ANGELES, CA – March 12, 2018 – (New Media Wire), Innovativ Media Group, Inc. (OTCPK:INMG) (“Company”) today released its year-end Financial Statements for 2017. Company revenues for the year grew by approximately 19%, EBITDA in the 4th Quarter was $13,013 and total assets increased by $158,330.The Company’s revenue during the year continued to be driven primarily by content licensing as its new platforms did not launch until late in the year(Nov.28th) and are not expected to have material impact until 2018.
Tom Coleman, CEO of Innovativ Media said: “2017 was a year of significant developments for Innovativ Media with several asset acquisitions, the launch of CannaNet.TV www.cannanet.tv and http://www.localcannabisdispensary.com along with the 1st Quarter 2018 agreement to provide merchant banking services to the cannabis industry via Kush Processing http://www,kushprocessing.com . The Company has committed to focusing strategies on the burgeoning cannabis industry sector and we expect these investments will measurably and positively contribute to a strong financial performance in 2018”
CannaNet.TV www.cannanet.tv, which launched on November 28, 2017, is an online, ad supported channel, streaming entertainment, informational and educational content related to the cannabis culture and industry and which also owns and operates http://localcannabisdispensary.com and http://kushprocessing.com
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