IRVINE, CA–(March 27, 2015) – UA Multimedia, Inc. (OTC Markets: UAMM), a media holding company today reported financial results for the year ended December 31, 2014.
The net revenues for the year ended December 31, 2014 increased 122% to $151,750 compared to $61,900 for the year ended December 31, 2013. The increase in revenues was primarily attributed to increased sales in film production and web development services.
The operating expenses for the year ended December 31, 2014 increased 80% to $108,236 compared to $60,153 for the year ended December 31, 2013. The increase in operating expenses was primarily due to the increased cost in marketing services and business development.
Reported earnings for the year ended 2014 were $43,514, an increase of 2,391%, compared to a net income of $1,747 for the year ended December 31, 2013.
“We are pleased to have reported fiscal 2014 results that showed a healthy year-over-year growth”, said Sully Jacques, UA Multimedia’s Chief Executive Officer. “We spent most of Q1 2015 promoting our movie ‘Gentle’ through numerous international film festivals and markets. We are optimistic that such marketing efforts will result in a successful theatrical release which start today in Vietnam.”
About UA Multimedia, Inc.
UA Multimedia, Inc. is a media company with holding in web, mobile applications, movie production and distribution. The Company seeks to create value through organic development, incubation and acquisition of media related assets. For more information, please visit https://uammedia.com.
Forward Looking Statements
This release contains forward-looking statements within the meaning of Section 27a of the Securities Act of 1933, as amended and section 21e of the Securities and Exchange Act of 1934, as amended. Those statements include the intent, belief or current expectations of the company and its management team. Some or all of the events or results anticipated by these forward-looking statements may not occur. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Accomplishing the strategy described herein is significantly dependent upon numerous factors, many that are not in management’s control. UA Multimedia, Inc. does not undertake any duty nor does it intend to update the results of these forward-looking statements.
UA Multimedia, Inc.