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Yangaroo Inc. (YOOIF) delivers cloud-based digital media workflow solutions for advertising, music, and awards industries through its patented platform. This news hub provides investors and professionals with centralized access to corporate developments and market-moving updates.
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Yangaroo has announced the revocation of the Cease Trade Order (CTO) by the Ontario Securities Commission (OSC), effective June 27, 2024. The company, a leader in media asset workflow and distribution solutions, plans to apply for the reinstatement of its common shares on the TSX Venture Exchange. Additionally, during its Annual General Meeting on June 27, 2024, shareholders approved all resolutions, including the re-election of three board members and the appointment of Baker Tilly WM LLP as auditors. Notably, Anthony Miller did not stand for re-election after 14 years of service.
Yangaroo announced its financial results for Q1 2024 and fiscal year 2023, reporting a notable improvement in operating income and normalized EBITDA. For FY 2023, revenue increased to $7.89 million, with operating income rising to $13,702 and normalized EBITDA to $1.14 million. The Advertising Division saw a significant boost due to the acquisition of Millenia3, while the Entertainment Group's Music Division faced revenue declines. For Q1 2024, revenue reached $1.92 million, driven by growth in advertising and music sectors, alongside a decrease in operating expenses. Notably, Yangaroo achieved its seventh consecutive quarter of positive normalized EBITDA.
Yangaroo Inc. announces the rejection of a voluntary management cease trade order and anticipates a failure-to-file cease trade order from the Ontario Securities Commission due to the inability to file audited annual financial statements by the deadline. The company's CFO has resigned, and the CEO will act as Interim CFO to complete the necessary filings.
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