Nearly two years ago, on April 14, 2016, we announced financial results for the fiscal year ended December 31, 2015 of over $4.6 million in revenue. Revenue and margins were trending positively with a fourth quarter gross profit that more than doubled year over year to $457,340 on $1.68 million in revenue.
Concurrently, we were also working to close a merger with another ad tech company that had developed a state-of-the-art ad blocker bypass software program. However, market conditions did not support financing and closing that transaction, and the effort’s extensive expenditure of cash and management resources left the Company under-capitalized to invest in an aggressive ad-tech business plan.