VANCOUVER, April 26th, 2018 /CNW/ – Good Life Networks Inc. (“GLN“, or the “Company“) (TSX-V: GOOD, FSE: 4G5), a Vancouver-based programmatic advertising technology company, is pleased to announce that it has filed its consolidated financial statements and management’s discussion and analysis for the year ended December 31, 2017, available for viewing on www.sedar.com. All figures are expressed in Canadian dollars unless otherwise stated.
Financial Highlights
- Record revenue during the twelve months ended December 31, 2017 increased 278% to $9,723,075 compared to $2,571,311 during the twelve months ended December 31, 2016;
- Gross profit during the twelve months ended December 31, 2017 increased 800% to $4,334,670 from $481,795 during the twelve months ended December 31, 2016;
- Gross margin as a percentage of revenue during the twelve months ended December 31, 2017 increased to 45% compared to 19% during the twelve months ended December 31, 2016, representing a 137% increase;
- Record net income for the twelve months ended December 31, 2017 was $1,337,726 compared to a net loss of $3,000,692 during the twelve months ended December 31, 2016;
- EBITDA for the twelve months ended December 31, 2017 was $1,716,189.
BUSINESS UPDATE
During fiscal year ending December 31, 2017, the Company achieved the following milestones:
- GLN placed ads about three times faster than IAB standards (250 milliseconds, IAB Standard 700 milliseconds). This mean more ads are sold that are more accurately targeted and at a higher price creating more revenue for the company.
- GLN completed 17 API Integrations into our patent pending exchange during 2017 expanding our global reach eightfold over 2016.
- Placed nearly 1BN video ads
- Increased capacity to allow for future additional integrations
Subsequent to Fiscal Year-End
- Completed RTO transaction with Exito, and concurrently raised $9.2M of equity.
- Granted patent pending status by the USPTO on several innovations related to our exchange platform, algorithms and blockchain design.
MOVING AHEAD
The Company continues to expand and execute its integration and acquisition strategy. During 2018, the Company plans on integrating with between 25 and 35 additional partners and plans to complete strategic acquisitions previously identified. To date, Good Life Networks Inc has been working on and completing the following initiatives:
- March 8th, we continued our aggressive integration strategy by entering a commercial agreement with U.S. based Answer Media, giving us access to a global supply chain consisting of over one hundred million unique users and over three hundred publishers (websites on desktop and mobile).
- March 22nd, we expanded into the U.K. with Advenue Limited (“Advenue”). Our agreement and integration with this London based company expands GLN’s global reach by up to nine new regions and includes access to over 4,000 mobile publishers across Android and iOS platforms.”
- April 3rd, CEO Jesse Dylan and his team rang the bell at TSX to open the stock market marking GLN’s public listing on TSX-V under the stock symbol GOOD.
- April 12th, GLN announced its listing on the Frankfurt Stock Exchange (third largest exchange globally in terms of volume of trading behind New York and NASDAQ) under the trading symbol 4G5.
- April 19th, GLN entered into an Advisory Agreement with First Coin Capital (a Vancouver-based technology services company dedicated to advising established companies and providing access to the emerging digital currency asset class.) to assist in the detailed analysis and planning of the GLN accounts receivable (“AR”) Blockchain application.
Jesse Dylan, President and CEO commented, “A few years ago, I had the pleasure and honor of entertaining Don Miguel Ruiz (author of the international best-selling book The Four Agreements) in my home for dinner. One of Don Miguel’s Four Agreements is “Be Impeccable with Your Word,” the financial statements that we are releasing today to the market, to our shareholders, family and friends clearly demonstrate that we are executing our plan and being impeccable with our word. It will continue to be our honor and pleasure to execute the GOOD plan!”
Summary of Financial Results and Information
| Consolidated Statement of Operations | ||
| Twelve months ended December 31, | ||
| 2017 | 2016 | |
| Revenue | $ 9,723,075 | $ 2,571,311 |
| Cost of Sales | $ 5,388,405 | $ 2,089,516 |
| Gross Profit | $ 4,334,670 | $ 481,795 |
| Gross Margin | 45% | 19% |
| Expenses | $ 3,105,850 | $ 3,284,504 |
| Operating Income (Loss) | $ 1,228,820 | $ (2,802,709) |
| Net Income (Loss) for the year | $ 1,337,726 | $ (3,000,692) |
| Income (Loss) per share – | ||
| Basic | $ 0.01 | $ (0.04) |
| Diluted | $ 0.01 | $ (0.04) |
| Total Assets | $ 9,832,633 | $ 1,117,819 |
| Total Liabilities | $ 12,094,377 | $ 4,922,616 |
| Total Shareholders’ Equity (Deficiency) | $ (2,261,744) | $ (3,804,797) |
Financial Reports
Full details of the financial reports and operating results for the twelve months ended December 31, 2017 are described in the Company’s consolidated financial statements with accompanying notes and related Management’s Discussion and Analysis. These documents and additional information on Good Life Networks Inc. is available on SEDAR at www.sedar.com.
Management appointments
Konstantin Lichtenwald has been appointed as Chief Financial Officer (CFO) of the Company. Mr. Lichtenwald is a CPA/CGA offers extensive knowledge and know-how for companies in two key financial jurisdictions, North America and German-speaking parts of Europe. His accounting, financial skills offer a multifaceted hands-on approach to strategic management and problem solving. Andrew Osis has resigned from his position as Chief Financial Officer and returns to his role as Advisor. GLN wishes to thank Mr. Osis for his contributions over the last year.
Conference Call
The company will also host a live conference call on April 26th, 2018, at 2 p.m. PST.
To access the conference call by phone, please dial:
Canada/USA: 1-800-319-4610
International Toll: 1-604-638-5340
Germany: 0800-180-1954
UK: 0808-101-2791
Callers should dial in five to 10 minutes prior to the scheduled start time.
The GLN Story
GLN harnesses the power of artificial intelligence to improve marketing return on investments for advertisers using its patent pending video advertising technology. By 2020, MAGNA, the research arm of media buying firm IPG Mediabrands, expects digital ads to make up 50 percent of all ad spending, expected to reach $237 billion this year. GLN recently closed a $9.2 million subscription financing prior to closing its qualifying transaction and trades on the TSX Venture Exchange under the stock symbol “GOOD” and The Frankfurt Stock Exchange under the stock symbol 4G5.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information, please contact:
investors@glninc.ca or call 604 265 7511.