Chairperson’s Quarterly
Review
Liquid Media Group Ltd. (Nasdaq: YVR) referred to herein as
"Liquid" or the "Company", delivered a quarterly update for
shareholders today, January 17, 2019.
Dear Shareholders of Liquid Media Group,
Our last quarter is full of accomplishments for Liquid – and
there is much more to come. Since our last update, Liquid is proud
to have successfully concluded its review with The Nasdaq Stock
Market LLC. Our compliance with all requirements for initial
listing on the Nasdaq Capital Market resulted in a positive
decision from the Nasdaq Hearings Panel.
With our capital markets transformation now complete, we are
moving forward with the first phase of our gaming content
slate.
Premiere titles are in development for next-generation consoles
and PC. We also have our impressive portfolio of over 100 retro
games, many with franchise potential, to remaster, reimagine and/or
launch as sequels using today’s incredible technology. These and
other developments are helping Liquid build its leadership of the
rapid convergence taking place across all sectors of media and
entertainment – including the booming virtual, augmented and mixed
reality (VAMR) space.
Key Achievements
Technology is now enabling content to be remastered from its
retro origins. We are now able to move system-specific content to
all platforms in all languages. Liquid has identified this process
as the cornerstone of its Phase 1 plan.
In the quarter, Liquid’s gaming division accomplished the
following milestones:
- Coba: Tale of the Moon (“Coba”), an exciting new action
role-playing game, is in development for Nintendo Switch and PC.
The Company plans to expand Coba into a full media franchise, with
potential for an animated series for television, streaming
platforms, home video, theatrical release(s), augmented reality
programming and/or merchandise sales.
- Building on our retro games pipeline, rights and interest in 65
video game titles, including megahit classics All Star Baseball,
NFL Quarterback Club, NHL Breakaway, College Slam, Dirt Trax FX and
Kwirk, were acquired from Throwback Entertainment Inc.
- Liquid is scheduling to launch Miss Kwirk as the first game in
a five-title Retro Reboot series. Miss Kwirk is a new puzzle game
for gaming consoles and PC, which is being developed as a follow-up
to the popular Kwirk title.
- Liquid acquired Blowout from Zift Interactive LLC (“Zift”).
Blowout has realized lifetime retail revenue of US$5-million to
date and sold over 250,000 console units for the original Xbox, PS2
and GameCube. It is available now for Xbox 360, via Steam,
IndieGala and GreenMan Gaming, and is in the backwards compatible
program for Xbox One, which saves all development costs.
- Blast Works, which is critically acclaimed for a complex set of
editing tools that gives players flexibility to create their own
ships, enemies and levels, was also acquired from Zift. Liquid
plans to relaunch the game for modern consoles and platforms. Blast
Works has realized lifetime retail revenue of US$8-million to date
and sold over 200,000 console units for Nintendo Wii.
Crowdfunding for Liquid Gaming and Entertainment
Assets
The Company is preparing to launch the Liquid Finance Portal,
which is being customized for Liquid’s business in collaboration
with a leading FinTech company formed by industry veterans with
decades of expertise across technology, investment banking, venture
capital and financial compliance. Liquid has exclusive rights to
use the crowdfunding platform to finance projects in the gaming,
film and TV segments.
Industry Outlook
Crowdfunding across the entertainment industry appears to be
booming with gaming projects like Star Citizen raising more than
$200-million from backers in 171 countries.
Retail revenue in the U.S. video game industry alone hit
approximately US$1.545-billion according to Statista. These numbers
don’t yet account for the holiday season, which traditionally turns
out the most new game releases and the highest revenues of the
year. Total U.S. video game industry revenue was US$36-billion in
2017, up from US$30.4 billion a year earlier. Globally, Newzoo
reports that 2.3-billion gamers will spend US$137.9-billion on
games in 2018.
Growth Strategies
In addition to creating incredible gaming content, Liquid is
working to consolidate Vancouver’s fragmented film and
entertainment market, where more than US$2.9 billion is spent
annually on film and television production services.
Liquid signed a licensing agreement to enable the Company to
move digital content production into the cloud. With this
technology, Liquid is creating a single, powerful network of
production groups where content creators can access rented
applications. A targeted roll out of “Liquid Anywhere” locations is
scheduled, with initial launch planned for key physical production
centers in North America, beginning with Vancouver, Canada. These
physical locations in key tech hubs would give creators a physical
meeting place to collaborate on Liquid’s pipeline.
We are excited to be positioning Liquid’s well-diversified
portfolio of integrated digital production companies to target the
US$137-billion+ annual gaming market as an integral part of our
Phase 1 plan. Our technology that enables production collaboration
in the cloud is expected to enable quicker, more efficient
development of the projects in our gaming pipeline, with support
from financing raised through our crowdfunding Liquid Finance
Portal.
We thank you for your continued support and for the trust you
have placed in Liquid Media Group.
On behalf of the Board of Directors,
Joshua Jackson, Chairman
About Liquid Media Group Ltd.
Liquid is a media and entertainment company connecting mature
production companies via Powered by StratusCore™ cloud workplace
technology into a vertically integrated global studio, producing
content for all platforms through its network of shared services.
Additional information is available at
www.LiquidMediaGroup.co.
Further information:
Daniel CruzLiquid Media Group Ltd.+1 (416)
489-0092pg@liquidmediagroup.co
Media requests:
Adam BelloMedia & Analyst Relations ManagerPrimoris Group
Inc.+1 (416) 489-0092 x 226media@primorisgroup.com
Forward Looking Statements
This news release contains certain forward-looking information
as defined in applicable securities laws (referred to herein as
"forward-looking statements"). Forward-looking information is
typically identified by words such as: "believe", "expect",
“looks”, "anticipate", "intend", "estimate", "planned" and similar
expressions, or are those, which, by their nature, refer to future
events. These forward-looking statements reflect the expectations
or beliefs of management of the Company based on information
currently available to it. Forward-looking statements are subject
to a number of risks and uncertainties, including those detailed
from time to time in filings made by the Company with securities
regulatory authorities, which may cause actual outcomes to differ
materially from those discussed in the forward-looking
statements.
The forward-looking statements and information contained in this
news release are made as of the date hereof and the Company
undertakes no obligation to update publicly or revise any
forward-looking statements or information, whether as a result of
new information, future events or otherwise, unless so required by
applicable securities laws.
Liquid Media (NASDAQ:YVR)
Historical Stock Chart
From Apr 2024 to May 2024
Liquid Media (NASDAQ:YVR)
Historical Stock Chart
From May 2023 to May 2024