Los Angeles, CA -- (ReleaseWire) -- 05/10/2016 --Innovativ Media Group, Inc. (OTCPK:INMDG) ("Company"), announced record financial results today for the Quarter ending March 31, 2016. In the initial reporting period for 2016 the Company's revenues substantially increased to $45,879 compared with just $46 in the corresponding Quarter from 2015 and the Company generated EBITA of $6,968 compared with a prior period loss of ($10,496.). The Company's net Stockholder Equity as of March 31, 2016 was $2,726,129.
The strong financial results of the Company are due to its acquisition of media assets in June 2015, the re-focus of the Company on digital entertainment media and the sale of its sports fantasy related businesses.
About Innovativ Media Group, Inc.
Innovativ Media Group (Innovativ) is a developer, producer and distributor of digital entertainment and other multi-media content. It has acquired many of the assets of Lux Digital Pictures including a library of feature motion pictures and, via New Broadway Cinema, develops adaptations of stage shows utilizing its trademarked DigiTheater™ Virtual Reality process. Innovativ also operates The Alien Interview Channel on YouTube, in partnership with FullScreen, Inc., is producing the new web series "Mountains of Madness" and is a principal in the Film Finance Exchange. http://innovativmedia.com
Forward-Looking Statements:
This press release contains certain "forward-looking" statements, as defined in the United States Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Statements, which are not historical facts, are forward-looking statements. The Company, through its management, makes forward?looking public statements concerning its expected future operations, performance and other developments. Such forward?looking statements are necessarily estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such.
Contact:
Investor Relations
info@innovativmedia.com
510-948-4000
Source: UPTICK Newswire
Innovativ Media Group (INMG) Posts Record Financial Results in the 1st Quarter