Urbanimmersive announces its audited 2020 financial results TSX Venture Exchange: UI

Urbanimmersive announces its audited 2020 financial results TSX Venture Exchange: UI

SAINT-HUBERT, Quebec, January 14, 2021 (GLOBE NEWSWIRE) – Urbanimmersive Inc. (“Urbanimmersive”, the “Company” or “UI”) (TSX VENTURE: UI) (OTCQB: UBMRF) today announced certain financial data audited consolidated results and presents corporate highlights for the fourth quarter and fiscal year ended September 30, 2020. The consolidated financial statements and related MD&A (“MD&A”) are available on SEDAR at ‘address https://www.sedar.com/.

Strong points

In February 2020, the Company completed the acquisition of Immersolution, a reseller of 3D photography equipment; For 2020, the Company generated gross merchantable volume (“ GMV ”) of $ 9,776K compared to $ 9,463K in 2019, an increase of 3%; For 2020, the company generated revenue of $ 4,594,000 compared to $ 4,454,000 in 2019, a year-over-year increase of $ 140,000 or 3.1%. While adjusting 2019 revenues for comparison purposes to reflect the change in Urbanimmersive billing method in March 2019, 2019 adjusted revenues…
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