New York, NY , Nov. 19, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Recall Studios (OTC: “BTOP”), a leading developer of hyper-realistic digital humans for entertainment, mixed reality and artificial intelligence, today reported financial results for the third quarter ended September 30, 2018 .
In August 2018 , Recall Studios acquired Evolution AI Corporation , including a majority interest in Pulse Evolution Corporation (OTC: PLFX). Our third quarter financial reports incorporate the purchase accounting and consolidation effects of these acquisitions, including a third-party appraisal of included assets which was commissioned to support the Company’s allocation of purchase price to its adjusted balance sheet.
The highlights of our third quarter financial report are as follows:
The Company acquired 99.7% of artificial intelligence firm Evolution AI Corporation on August 8 , 2018,which included a 58% interest in digital human, entertainment firm Pulse Evolution Corporation , for purchase consideration of $211.5 million ;
Total Assets increased to $291.5 million , for the quarter ended September 30, 2018 , as compared to $86,000 for the year ended December 31, 2017 ;
Total Stockholders’ Equity increased to $273.0 million , for the quarter ended September 30, 2018 , as compared to Total Stockholders’ Deficit of $3.1 million for the year ended December 31, 2017 ;
Current Assets increased to $847,823 , for the quarter ended September 30, 2018 , as compared to $80,000 for the year ended December 31, 2017 ;
Net Loss of $4,260,257 , or $(0.03) per share, for the quarter ended September 30, 2018 , as compared to a net loss of $808,000 , or $(0.01) per share, for the comparable quarter of 2017. Recall Studios CEO John Textor will host a shareholder call on November 27, 2018 , at 11am EST to discuss the Company’s third quarter financial results and other key developments. Recall Studios Third Quarter 2018 Shareholder Information Call: Tuesday, 11:00am EST , November 27, 2018