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RTG Ventures, Inc. (OTCBB: RTGV) has filed its annual 10-K for the fiscal year ending August 31, 2010 and embarked upon its first year as an operating company. The 10-K is the Annual Report of financial activities required at the end of the fiscal year and it follows filing consolidated financials on September 8, 2010. Because the consolidated financials occurred following the close of the fiscal year the 10-K filing could not be integrated under accounting rules. Therefore, the financials audited are those of the development company, in the throes of establishing its infrastructure, the acquiring businesses and fast-tracking the launch of two disruptive technologies, while positioning the company for an accelerated move into the commercial media monetization space. After an event-filled, but very complicated 12-months, RTG Ventures looks at the 10-K as the history which preceded the commercial, operational launch of the total businesses.
Following accounting practice, the acquired companies full financials have been included as footnotes to the 10-K. The first report of integrated accounts will be the 10-Q ending November 30, 2010. To reiterate, the Company had revenues of $2M during the period to August 31, 2010, expects $8M Y1 and $50+M by Y3. Current revenues are coming from the Software & Services Division, specifically BMC and Digital Clarity. It is unusual for a company only in operating mode for a few months to have such revenues and RTG Ventures is now positioned to launch its disruptive technology, which has been in development during the reporting period, as early as next month at presentations in Los Angeles and New York. The technologies have the potential for exponential growth. The real story for the future is how the company uses the expertise, human capital and synergies of the existing companies, as well as relationships which are in place in the industry to exploit the payment and media systems platforms.
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