Urbanimmersive Technologies Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended March 31, 2013; Appoints Isabelle Gauthier as Chief Financial Officer
The net loss for the six month period was $2,035,884 or $0.15 per share compared to $469,521 or $0.11 per share for the same period of 2012. The net loss increases of $326,916 for the three months period and $2,035,883 for the six month period are due to important changes further described hereinafter. Revenues decreased to $515,402 from $570,322 for the same period of 2012, an amount of $54,920 or 9%. These decreases are mainly due to the refocus of the Corporation's sales efforts and the sales deployment on AVU3D immersive visits in the real estate market with affiliated real estate agencies, following the conclusion of agreements with Sutton and RE/MAX. The operating loss was $740,780 for the six-month period ended March 31, 2013 compared to a loss of $378,327 for the same period of 2012.
The corporation announced that Isabelle Gauthier, CPA, CA, has been appointed Chief Financial Officer. Mrs. Gauthier's nomination is effective since May 1, 2013. Mrs. Gauthier held the position of Senior Director within the firm Raymond Chabot Grant Thornton for which she worked as an Auditor from 1996 to 2006. Ms. Gauthier provides financial consulting services to several publicly listed companies, including three mining exploration companies, where she serves as Vice-President of Finance.