LOS ANGELES, CA–(Marketwired – Aug 12, 2016) – Innovativ Media Group, Inc. (OTC PINK: INMG) (“Company”) announced another record financial result today for the Quarter ending June 30, 2016. In the 2nd Quarter the Company’s revenues substantially increased to $49,322 compared with just $625 in the corresponding Quarter from 2015 and the Company generated EBITA of $7,172 compared with a prior period loss of ($6,116). Revenues in the first six months of the year were $95,201 with earnings before amortization of $14,140.
The Company plans on launching the first of its premium online channels in the 3rd Quarter and expects it to positively impact revenues in the 4th Quarter.
About Innovativ Media Group, Inc.
Innovativ Media Group (Innovativ) is a developer, producer and distributor of digital entertainment and other multi-media content. It distributes the motion picture assets of Lux Digital 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., the premium online channel HPLovecraft.TV and is a principal in the Film Finance Exchange. http://innovativmedia.com
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.