Engagement Labs Inc. announced consolidated earnings results for the second quarter and six months ended June 30, 2016. The company announced that second quarter revenue increased by 36% from $839,005 in the second quarter 2015 to $1,144,059 in second quarter of 2016. Non-GAAP Adjusted EBITDA loss for the period was $1,180,636 compared to a non-GAAP Adjusted EBITDA loss of $1,266,867 for second quarter 2015. Basic and diluted loss per share was $0.03 for the quarter ended June 30, 2016 compared to $0.05 for the quarter ended June 30, 2015 and $0.03 for the quarter ended March 31, 2016.

The company reported total revenue for the first half of 2016 increased by 51% to $2,477,505, compared to $1,639,345 for the first half of 2015. Non-GAAP Adjusted EBITDA loss for the six months period was $2,385,319 compared to a non-GAAP Adjusted EBITDA loss of $2,599,088 for the first half of 2015. Basic and diluted loss per share decreased by 50% to $0.06 for the first half of 2016, from $0.12 for the first half of 2015.

The company announced amongst other closing conditions, shareholders will be asked to approve a slate of Board nominees which will include current Chairman G. Scott Paterson and Ed Keller, President, who was also appointed CEO of the company on August 30, 2016. In addition, Bruce Lev, managing director of Loeb and former director of the Roper Organization and of the Keller Fay Group, as well as Gilman Anderson and Pat LaPointe will be on Management's slate of directors at the meeting. In light of the overall benefits that the Engagement Labs Board sees from this transaction with Loeb, all other current Engagement Labs board members have agreed to not stand for re-election. Mr. Lev is a well-respected investor, executive, and corporate director. He sits on the board of directors of Flagler Construction Co, LLC; Pittsfield Plastics Inc.; and VirtualScopics Inc. Additionally, Mr. Lev served on the board of directors of Integral Systems Inc. Most recently Mr. Anderson was CEO of Allant Group which delivers custom software and SaaS solutions to ad sellers, ad buyers, and marketers. Pat LaPointe is Managing Partner, Growth Calculus. The most recent was MarketShare, where Mr. LaPointe served as EVP. Bryan Segal, has stepped down as CEO effective August 30, 2016.