21:59:50 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



EQ Inc
Symbol EQ
Shares Issued 15,857,225
Close 2015-04-24 C$ 0.08
Market Cap C$ 1,268,578
Recent Sedar Documents

EQ loses $4.28-million in 2014

2015-04-24 18:35 ET - News Release

Mr. Geoffrey Rotstein reports

EQ INC. ANNOUNCES 2014 FINANCIAL RESULTS

EQ Inc. has released its financial results for the fiscal year ended Dec. 31, 2014. Total revenue from operations for the year was $4.9-million, a decrease from the $8.0-million recorded in the previous year. The adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) loss for the year was approximately $2.7-million, compared with a loss of $2.3-million for the previous year.

"Although 2014 was challenging in terms of our financial performance, the advancements in our audience targeting and data analytics platform have positioned us well for 2015. The number of campaigns executed in 2014 increased over the previous year, and our focus on targeting resulted in the strong performance, increased satisfaction and higher retention rates with our clients than we'd seen in the past," said Geoffrey Rotstein, president and chief executive officer.

The EQ proprietary platform is robust and can scale to handle exponentially more capacity than it experienced in 2014. By incorporating industry-leading analytics on data, viewability and fraud detection, and with an enhanced focus on mobile targeting and distribution, the company believes it can now focus its 2015 efforts on additional sales and marketing channels.

   UNAUDITED CONSOLIDATED  STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
         (in thousands of dollars, except per-share amounts)                                           

                                                     Years ended Dec. 31,
                                                     2014           2013

Revenue                                            $4,877         $8,044
Expenses
Publishing and advertising costs                    2,322          4,228
Employee compensation and benefits                  2,990          3,605
Other operating expenses                            2,217          2,549
Depreciation of property and equipment                186            273
Amortization of domain properties
and other intangible assets                         1,093          1,158
Impairment of goodwill and
other intangible assets                               265            716
                                                    9,073         12,529
(Loss) from operations                             (4,196)        (4,485)
Finance income                                         13             34
Finance costs                                        (125)          (257)
(Loss) before income taxes                         (4,308)        (4,708)
Income tax recovery
Current                                                22              2
Deferred                                                -            235
Net (loss)                                         (4,286)        (4,471)
Other comprehensive income
Foreign currency translation
adjustments to equity                                 156            436
Other comprehensive income, net of tax                156            436
Comprehensive (loss)                               (4,130)        (4,035)
(Loss) per share
Basic and diluted                                   (0.27)         (0.28)

We seek Safe Harbor.

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