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Crowd Media Holdings Limited (CM8.AX) Quarterly Activities Report

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Crowd Media Holdings Limited
Crowd Media Holdings Limited

Crowd Media Holdings Limited (CM8.AX) Quarterly Activities Report

Melbourne, Australia, April 29, 2022 - (ABN Newswire) - Crowd Media Holdings Limited (ASX:CM8) (HAM:CM3) report a positive operating cash flow for the quarter ending 31 March 2022 of $0.02M and year-to-date of $0.03M. This follows on from the positive operating cash flow announced for the previous quarter.

- Cash at Bank of $1.29 million at 31 March 2022.

- Ongoing profitability delivered by the Mobile Subscription division; optimization measures and new processes initiated to drive long-term revenue growth.

- Talking Head development continues to build pace with a growing development team and the establishment of a separate R&D department in Barcelona dedicated to technology development.

- Licensing Deal executed with South African Med-Tech company PangeaMed to deepen the Talking Head technology within medical use-cases.

- Formed three strategic partnerships worldwide with key players in the NFT, Advertisement Technology and Media industries to support the Talking Head platform's commercialization.

Crowd Media's CEO, Idan Schmorak, said: "Crowd continues to build extraordinary technology and optimise its existing business, pushing new tech commercialization ahead of schedule and "softlaunching" products to scale the system sensibly. The demand and willingness that is coming from third parties and potential customers to participate in commercializing the Talking Head technology strengthens our core vision and confirms that we are on the right track.

We keep rightsizing our teams to support commercialization, while maintaining a responsible cash flow regime, allowing us to be operating cash flow positive for a second quarter in a row, an exceptional situation for a company in a growth stage."

*To view the full Quarterly Report, please visit:
https://abnnewswire.net/lnk/Q78U710U


About Crowd Media Holdings Limited:


Crowd Media Holdings Ltd (ASX:CM8) (FRA:CM3) is an Artificial Intelligence company that is leveraging its AI platform for applications in Conversational Commerce.

Contact:

Idan Schmorak, CEO
Crowd Media Holdings Limited
E: idan@crowdmedia.com

Alfred Chan
Investor Relations
E: crowdmedia@principalir.com.au

Source:
Crowd Media Holdings Limited

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