Highlights:
- Positive operating cash flow for the financial year 2022 of
- Total operating cash flow for the quarter ending
- Cash at Bank of
- Mobile Subscription division shows ongoing profitability alongside implementing growth measures on all business fronts; growing profitability per user and implementing new technologies.
- Talking Head development continues according to plan with positive R&D results for next software versions and a new platform version to be deployed in the following weeks including extended device support, improved voice recognition and stability features.
- Strategic partnership with Israeli SrcFlare for media-search activities and talking head technology integrations in the first month of activity on the proof of concept stage exceeded expectations with
Financial Updates:
- The balance of cash on hand as at
- Subject to shareholder approval at the EGM to be held on
- Net cash flow from investing activities for the period was (
- Net cash flow from financing activities was
Talking Head Update:
- Development is accelerating with all milestones hit to date on time, while the development team continues to grow according to plan to support scaled commercialization.
- Commercial agreement signed with media search company SourceFlare to deliver a proofof-concept Talking Head product to integrate conversational AI into internet search engines. Early-stage proof of concept has already generated
- Soft launched a Talking Head product with the Mobile Subscription division, signifying the success of integrating the platform internally and opening the door for future integrations with the technical tools that were created to do so. A full Talking Head subscription product line will follow, to be sold via business-to-consumer (B2C, from the Subscription division directly to end users) and business-to-business (B2B, licensing the technology to noncompeting mobile-app companies).
Mobile Subscription Update:
- Average revenue per user increased by 3% for the second quarter in a row.
- Division continues to deliver ongoing profits. Optimization measures are continuously being implemented across personnel, sales and marketing functions.
- Secured mobile network approvals to mass distribute its artificial intelligence-powered Talking Head technology for entertainment applications in
We keep rightsizing our teams to support upscaling and building new business functions with toptier personnel while maintaining a responsible cash flow regime, allowing us to be operating cash flow positive for the year, an exceptional situation for a company in a growth stage."
*To view the full report, please visit:
https://abnnewswire.net/lnk/9Q55HDT3
About
Contact:
Idan Schmorak, CEO
E: idan@crowdmedia.com
Investor Relations
E: crowdmedia@principalir.com.au
Copyright (C) 2022 ABN Newswire. All rights reserved., source