Pulse Evolution Corporation recently released its 2nd quarter results for the fiscal quarter that ended on 31st December, 2014. The corporation, which is a pioneer and developer of augmented reality, AI, virtual reality and holographic, realistic digital humans for live performances, also announced it intended on filing an S-1 registration statement for an underwritten public offering and being listed in the national stake exchange.
The corporation’s Executive Chairman, John Textor said they were pleased with the technological and business outcomes of their early development stages. He noted that they have established themselves as early market leaders in creating hyper-realistic digital humans. He further noted that the company was positioned to be a leading developer in new forms of entertainment as well as being a pioneer in the exciting industries of artificial intelligence and virtual reality.
Total operating expenses for periods ending on 31st December were $3,453,673 and $7,024,761 for three and six months respectively. The net loss attributable to common shareholders stood at $3,292,373 which translated to $0.03 per share for three months and $6,511,536 which translated to $0.05 per share for six months ending 31st December, 2014. Proceeds from common stock stood at $2,096,588 and $4,253,309 during the period of three months and six months respectively, net the fees. These figures are as originally reported on PR News Wire.
Of the company’s operating expenses, a significant portion is dedicated to development of digital likeness assets, entertainment properties and technologies for agreements made with the estates of Elvis Presley, Marilyn Monroe and Michael Jackson. Research and Development also contributes a large portion of the operating expenses. This includes software development, augmented reality and AI.
Textor finished by going into the motivation behind the company’s move to get listed on the national stock exchange. In early 2014, they were listed on the Frankfurt Stock Exchange which helped raise more than $15 million to fund the launch phase. The funds were raised through institutional investors.
He reiterated that given the leading role of the company in digital humans technology and growing interest from strategic and financial partners, Crunchbase said it was the right time to be recognized on the national stock exchange and move to fully reporting status.