A global media and marketing company, Crowd Media Holdings Limited (ASX: CM8) uses technology and social media platforms to give its advertiser clients market access to an audience, which mostly includes millennials and Generation Z.
The company’s Board consists of Industry experts, who are helping the company to achieve its organisational objectives.
Board of Directors:
Theodore Hnarakis (Non-Executive Chairman) – Mr Theodore Hnarakis is a well-seasoned industry veteran who has plenty of experience in the media industry and scaling up ASX-listed technology businesses. He held various senior level positions in big companies like News Corporation, Boral Group, PMP and Melbourne IT. His extensive experience in the Media Industry is well suited for Crowd Media Holdings Limited and makes him a valuable member of the company.
Domenic Carosa (CEO & Executive Director) – A popular Internet leader, Mr Domenic Carosa is the Co-Founder & CEO of Crowd Media Holdings Limited. In the late 90s, Mr Domenic Carosa built one of Australia’s largest independent digital music websites, MP3.com.au. Besides Crowd Media, Mr Domenic Carosa played an important role in creating and establishing various other big firms like BTC Corporation Holdings Pty Ltd, Future Capital Development Fund Pty Ltd, Dominet Venture Partners, and Destra Corporation Ltd.
On the educational front, Mr Domenic Carosa holds a Masters of Entrepreneurship & Innovation (MEI) from Swinburne University. With over 25 years of experience in business and technology, Mr Domenic Carosa is adding great value to the company’s management team and Board.
Sophie Karzis (Company Secretary and Non-Executive Director) – Currently serving as Company Secretary of Crowd Media Holdings Limited, Ms Sophie Karzis has over a decade of experience as a commercial lawyer. She is the Member of Law Institute of Victoria and the Institute of Chartered Secretaries and served as in-house counsel for various private and public companies.
Recent Appointment: Following the exit of the Chief Financial Officer (CFO), Antoaneta Ignatovska, the company’s Board chose a well-versed Ms Melanie Mouldenhauer as the new CFO. Ms Mouldenhauer held various senior accounting positions in big firms, including Rabobank and KPMG LLP (USA).
How is Company moving towards Profitability?
In mid-April 2019, the company’s Board decided to conduct a strategic review to restore shareholder value and return the company to profitability. As a consequence of the strategic review, the company’s management executed various cost-cutting measures, which could result in annualised cost savings of $3.5 million for the financial year 2019.
In order to save more cash, the company’s CEO stepped up and agreed to accept 50% of his salary in Crowd Media shares in place of cash for the financial year 2020. Likewise, the company’s Chairman and Board have also agreed to accept 25% of their fees in Crowd Media shares in place of cash.
The company has not yet disclosed its FY19 results, however, in an update provided on 7th June 2019, the company informed that its FY19 revenue is expected to be $24.6 million in FY19. In its media division, the company expects revenues of around $1.7 million, up 240% on last year.
Outlook for FY2020: In FY2020, the management intends to keep its focus on delivering globally competitive social media and digital influencer campaigns to its clients and to generate more income across the Q&A and Subscription mobile businesses. The company anticipates positive operating cashflow as well as positive EBITDA for this financial year.
EGM Coming Soon: The Board is soon going to conduct an Extraordinary General Meeting on 19th August 2019. The meeting will be held at RSM Australia, Level 21, 55 Collins Street Melbourne, Victoria.
At the EGM, the shareholders will be voting for six resolutions:
1 – Ratification of Issue of the Initial Convertible Notes: The company is seeking approval for the issue of Initial Convertible Notes to Obsidian.
2 – Ratification of Issue of Shares: The company is seeking approval for the issue of shares to Obsidian
3 – Ratification of Issue of Options: The company is seeking approval for the issue of the options to entities associated with JGB (JGB (Cayman) Newton Ltd).
4 – Approval of Issue of the Replacement Convertible Note: The company is seeking approval for the issue of the replacement convertible notes during the period of three months after the Meeting.
5 – Approval of Issue of Convertible Notes – Second Tranche: The company is seeking approval for the issue of convertible notes in relation to the second tranche of investment in the company by Obsidian during the period of three months after the Meeting.
6 – Approval of Issue of Shares – Commitment Fee: The company is seeking approval of shareholders for the issue of shares to Obsidian in satisfaction of commitment fees payable under the Agreement, during the period of 3 months after the Meeting.
Crowd Media is rapidly evolving into a fast-growing global social media marketing company. Till now, the company’s media division has worked with over 10,000 digital influencers worldwide, demonstrating significant growth in such a short period.
On the stock performance front, in the last three months, the company’s stock has generated a return of 57.14% as on 19th July 2019. The stock has a 52 weeks high price of $0.063 and 52 weeks low price of $0.010, with an average volume of ~3,654,127. At the time of writing on 23rd July 2019 (AEST 3:30 PM), the company’s stock was trading at a price of $0.023, with a market capitalisation of circa $5.23 million and a daily volume of ~418,353.
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