Another profitable quarter despite the non-election year
VANCOUVER, WA / ACCESSWIRE / November 18, 2021 / Adaptive Ad Systems, Inc. (OTC PINK: AATV) released the company’s quarterly report for the period ended September 30, 2021. It’s the 26thNS a profitable quarter for the company over the past seven years. Adaptive provides Dynamic Digital Ad Insertion (DDAI) through its streaming media hardware and proprietary processing software for all US cable television markets with a particular focus on underserved rural markets and High Speed Fixed Wireless Internet Service (WISP) through its network of Hybrid Access Points and micro-POPs.
The company reports that despite the ongoing disruption to nationwide business in almost all industries due to the COVID-19 pandemic and the fact that the company tends to see lower advertising revenues in non-election years, it has been able to continue serving contracted ads throughout its growing cable television network . Thus, the company reports that it has generated enough revenue to generate another profitable quarter.
Most television advertising activity in the U.S. has been negatively impacted by the unprecedented impact of the pandemic and typically lower advertising revenue during that non-election year of 2021. Accordingly, Adaptive revenue for the three months ended September 30, 2021 was below $ 1,402,101 revenue of $ 3,519,410 for the same period in 2020. Even so, Adaptive still posted net income of $ 131,088 – generate $ 6,225,508 in liquidity, while assets rose to $ 16,112,087. In addition, Adaptive revenue for the nine months ended September 30 increased $ 215,629, or approximately 43%, and revenue in three months increased more than 16 times compared to 2019 without elections.
CEO J. Michael Heil stated, ‘We have continued to install our proprietary digital ad systems, tested our new broadband technologies in beta markets, acquired a television station in Reno, Nevada, and continued to expand our presence in the underserved rural areas of the US We will Continue on path of aggressive expansion into target markets for which our systems and technologies are designed and will provide valuable and affordable digital advertising and broadband services to those markets. In addition, with the passing of the new bipartisan infrastructure law and the inevitable substantial investments in broadband technology for everyone, especially for the underserved rural markets that we have served for years, we expect increasing demand for our services and a more balanced sales trend in the coming years. For the mid-term elections in 2022, we expect another significant increase in income and are also already reviewing and implementing plans in order to take advantage of the new opportunities arising from our technological developments and the historic government initiatives to improve rural infrastructure
Adaptive Ad Systems Inc. is a digital media and video communications company. Together with its subsidiaries and manufacturing suppliers, the company provides Dynamic Digital Ad Insertion (DDAI) services, and develops and implements streaming media hardware and proprietary processing software for the cable television, satellite and IPTV markets. Through its subsidiary Adaptive Broadband (ABB), the company provides high-speed wireless Internet service (WISP) to homes and small offices through a network of hybrid access points and micro POPs. The company’s DDAI and WISP services target the often overlooked second and third tier cable television and rural WIFI markets, and now the tier 1 markets in US Adaptive’s proprietary software and hardware, which are used in numerous Cable television systems installed in the United States. Creation of a “network” of interconnected cable television systems. This allows advertisers to purchase ads on the nationwide Adaptive network, generating significantly more ad impressions than traditional ad insertion technologies in individual systems. Adaptive Ad Systems has an innovative revenue sharing agreement with each cable television system and manages all advertising-related activities. The company currently serves over 75 designated marketing areas in over 40 states. The company’s adaptive broadband network system provides services. Further information can be found at: www.aatv.co.
All statements in this press release that are not historical facts are forward-looking statements. Forward-looking statements may include, but are not limited to, financial projections, statements about management’s plans and goals for current and future operations, development, regulatory approvals, and commercialization of the Company’s products or any of the Company’s proposed services, systems, services, licensing agreements, joint ventures, Partnerships or acquisitions. Such forward-looking statements are not intended to predict or guarantee actual results or performance, which could differ materially. Factors that could cause actual results to differ materially from those projected could include delays in the development of its products and services, the inability to obtain funding, the effects of material new or changing government Industry regulations, existing or increased competition, arbitration or litigation results, stock volatility and illiquidity, and possible general failure to effectively execute the company’s business plans or strategies. The company assumes no obligation to update any forward-looking statements to reflect changes in events or circumstances that may occur after the date of this publication.
Adaptive Ad Systems, Inc.
4400 NE 77th Avenue Suite 275
Vancouver, Washington 98662
San Diego, California
SOURCE: Adaptive Ad Systems, Inc.
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