Wednesday, 27 November 2013

YANGAROO’s Growth Evident With Release Of Q3 Financials – CEO Labels Period As “Transformative”

YANGAROO Inc.
TSX.V : YOO
Shares issued: 40 million
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The most notable item in the numbers associated with YANGAROO’S nine and three month results was the 26% revenue increase for the first three quarters of this year versus the same period of 2012.

The digital media management company saw nine month revenues climb to $2.43 million from $1.92 million, last year.

Quarterly revenue came in at just over $836 thousand, which was flat with the second quarter that came in at $835 thousand. Management stated that this is attributable to the seasonality of the business, as Q3 is typically the slower time of year for the Company.

While the third quarter proved to be rather slow on the sales side, the same cannot be said on the business side, with YANGAROO’s President and CEO, Gary Moss, describing Q3 as a “transformative quarter.”

During Q3, YANGAROO completed its brokered private placement and 10:1 share consolidation. The Company had initially hoped to raise between $750K and $1.25M through a private placement, but successfully raised $1.6M and converted over 66% of the total debt, amounting to several million dollars of liabilities removed from the balance sheet.

According to the news release, with a stable financial structure now in place and newly hired sales executives in the advertising sector, Mr. Moss suggests that the Company is in a favorable position to execute its plan for quarterly growth for the remainder of 2013 and into 2014.

To view the news release, please click here…