EVR Holdings announces interims; losses widen

Thu, 19th Sep 2019

EVR Holdings grew revenue from £6,831 to £128,432, with loss for the period before taxation growing from ££4.4m to £7.1m. On 7 June 2019, the Company announced a £5m equity investment from John Gore together with a strategic partnership between the Company's principal subsidiary MelodyVR Limited ('MelodyVR') with John Gore Organisation to facilitate VR capture and distribution of Broadway Theatre content. As at 30 June 2019 the Company has cash and cash equivalents in excess of £17.5 million for future expansion and development. Chairman and CEO Anthony Matchett commented: 'The launch of MelodyVR on mobile devices marks a new chapter in our Company's strategic direction. Within the first week of launching our mobile app we were the number 1 trending app on the UK's Google Play store and ranked in the top 20 apps on Apple's UK app store. Over the last two months, we have seen our install base grow significantly and with a rich calendar of upcoming content and events, we expect that user numbers will continue to accelerate as we transition to a subscription based revenue model.' Story provided by StockMarketWire.com

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