Liquid Media Group Ltd (NASDAQ:YVR) is trading with a mild rally on Tuesday. The stock has been witnessing a nice uptrend since over the past 6 months. Will the Rally continue?
Liquid Media Group Announces Letter of Intent to Acquire Filmocracy
- announced the signing of a letter of intent (the “LOI”) to acquire Filmdab, Inc., which operates as “Filmocracy,” a B2B2C film and festival streaming platform with several proven revenue streams. Under the terms of the LOI, Liquid would acquire Filmocracy for up to 1.25-million shares, and Filmocracy must achieve revenues totalling up to US$66M to trigger three of the four equal tranches.
- Filmocracy combines technology for hosting live events with a streaming platform where Filmocrats can watch movies and attend virtual film festivals around the world for one monthly subscription. Previous clients include the American Film Market, the Television Academy, the American Society of Cinematographers, and festivals such as San Diego International, Paris International Film Festival, and the Bahamas International Film Festival.
- Filmocracy’s B2B2C model leverages a unique combination of revenue streams. These include B2B SaaS for the hosting of virtual festivals and other events beyond the film industry, B2C membership and marketing opportunities, plus channels, e-commerce and data. Filmocracy’s proprietary technology also permits for features to be white-labeled and sold to other businesses and industries.
“We are excited to be incorporating Filmocracy as an integral component of the Liquid Media solution for IP creators,” says Ron Thomson, CEO of Liquid.
Market Reaction: Stock Jumps
As of 9:51, YVR stock moved up by 3.65% to $1.98 with more than 1.30 million shares traded hands, well above its average volume of 10.78 million shares. The stock has moved within a range of $ 1.94 – 2.05 after opening the trade at $2.02.