SNK
04/08/2015 11:34
S/HOLDER
NOT PRICE SENSITIVE
REL: 1134 HRS Snakk Media Limited
S/HOLDER: SNK: Snakk Annual Report Statement: Nothing to See Here
SNK: MARKET UPDATE
4 August 2015
Dear Shareholders,
Annual Report Statement: Nothing to See Here
In response to articles published yesterday the board would like to issue a
trading update. Snakk traded ahead of budgeted EBITDA for the quarter ending
30 June 2015, and as of today has over $1.6m cash on hand. Snakk also has an
un-utilised debt facility of $1.3m and no bank debt. In fact our cash burn
for the June quarter was the lowest it has ever been.
Our new auditors Staples Rodway last week issued an unqualified opinion in
relation to our financial statements for the year ending 31 March 2015, and
correctly pointed out that Snakk needs to continue to achieve its budgeted
revenue and gross margins to be a going concern.
Since 2013, Snakk has continually reiterated that it would at some point need
to raise further capital, as do many high growth startups. This remains the
case. However as our margins and performance against budget have continued to
improve, the need for this continues to be reduced rather than increase. We
will continue to keep the market informed as we progress on plans for capital
raising.
As always, we thank you for your support.
Mark
ENDS
For media enquiries, please contact:
Julie Landry, 021 895 098, [email protected]
For investors enquiries, please contact:
Malcolm Lindeque, Company Secretary, 021 464 392, [email protected]
www.snk.co.nz, www.twitter.com/snakkmedia
About Represent Media
Represent Media is a division of Snakk Media, offering advertisers
highly-targeted and engaging mobile ad campaigns that run exclusively across
the mobile apps and websites produced by well-known publishing brands with
large audience followings. Represent matches a brand's desire to appear on
these specific "big name" mobile apps and websites with the publisher's
supply of ad space.
About Snakk Media
NZAX-listed Snakk Media helps brands find and reach consumers using apps,
games and social media on their smartphones, tablets and other smart screens.
The company generates revenue every time it successfully targets and delivers
an ad across its networks of mobile websites, apps and games. The ads are
targeted to ensure the right audiences see them at the right time and place.
Snakk is one of the first public companies in the world that has met the
rigorous social and environmental performance standards required to become a
certified B Corporation.
End CA:00267901 For:SNK Type:S/HOLDER Time:2015-08-04 11:34:57
