Jerrick Media Holdings, Inc. Reports Fiscal Year 2018 Second Quarter Results

Published on August 19, 2018

NEW YORK, Aug. 20, 2018 /PRNewswire/ -- Jerrick Media Holdings, Inc., (OTCQB: JMDA) (the "Company" or "Jerrick"), a technology company and the creators of Vocal, today reported financial results for its second fiscal quarter 2018.

Key Financial Results

  • Revenues complete with receivables were $33,193, including $9,170 of receivables.
  • Revenues grew over 100% in second quarter 2018 compared to $16,249 generated in first quarter 2018.
  • Diversification of Vocal-generated revenue streams remained consistent through the first of 2018.
  • Revenues for third quarter 2018 are estimated to be between $40,000 - $65,000.
  • Revenues are expected to be in excess of between $70,000 - $150,000 for fourth quarter 2018.
  • Operating expenses for the first half of 2018 averaged $481,000 monthly.

The Company expects to revert back to normalized operational expenses of less than $425,000 monthly on a go-forward basis, primarily due to cost savings related to technology. Technology development is expected to represent greater than 35% of monthly expenses, in line with previous quarters. Jerrick and its development partner, Sydney-based Thinkmill, continue material discussions regarding the broad application of Jerrick's platform Vocal on an enterprise basis, as well as potential strategic partnerships or joint ventures involving white labeling Vocal's underlying proprietary technology.

Key Operational Metrics

  • Management continues work toward uplisting to the NASDAQ Capital Market before the end of third quarter 2019.
  • Management expects headcount to remain near current levels through the uplisting.

"Content creators and consumers are driven by both quality and efficiency. The content creator seeks qualitative tools on a platform that saves time and adds value. The content consumer seeks qualitative and engaging experiences, that are worth investing the time it takes to absorb them," said Jerrick CEO Jeremy Frommer.

  • The Vocal platform reached over 300,000 registered accounts.
  • Vocal moderation, consisting of algorithmically assisted human curation, reviewed 230,000 submissions since January of 2017.
  • In August 2018, Jerrick's Vocal platform added two new community sites to its portfolio: Styled, a community dedicated to fashion and Marriage, which focuses on weddings and wedding planning.
  • With these additions, Vocal's network now amounts to a total of 34 genre-specific communities owned and operated by Jerrick.

"Jerrick's Vocal platform is the future of long form publishing in a social media environment," commented Frommer. "Traditional media, focused on delivering disruptive content, has forgotten that their platform's technology must be disruptive as well."

More details related to these financial results can be found on on the Company's Form 10-Q filed on August 20, 2018.

Forward Looking Statements

Any statements that are not historical facts and that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, indicated through the use of words or phrases such as “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimated,” “intends,” “plans,” “believes” and “projects”) may be forward-looking and may involve estimates and uncertainties which could cause actual results to differ materially from those expressed in the forward-looking statements. We caution that the factors described herein could cause actual results to differ materially from those expressed in any forward-looking statements we make and that investors should not place undue reliance on any such forward-looking statements. Further, any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of anticipated or unanticipated events or circumstances. New factors emerge from time to time, and it is not possible for us to predict all of such factors. Further, we cannot assess the impact of each such factor on our results of operations or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. This press release is qualified in its entirety by the cautionary statements and risk factor disclosure contained in our Securities and Exchange Commission filings.

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