AMPD Ventures Inc. Provides FY 2022 Results Preview
VANCOUVER, BC / ACCESSWIRE / May 25, 2022 / AMPD Ventures Inc. ("AMPD" or the "Company"), (CSE:AMPD) (OTCQB:AMPDF) (FRA:2Q0), is pleased to provide shareholders with a preview of FY 2022 results and summary of key progress.The exceptional team at …
VANCOUVER, BC / ACCESSWIRE / May 25, 2022 / AMPD Ventures Inc. ("AMPD" or the "Company"), (CSE:AMPD) (OTCQB:AMPDF) (FRA:2Q0), is pleased to provide shareholders with a preview of FY 2022 results and summary of key progress.
The exceptional team at AMPD continues to execute and build upon its plan of building a full 360-degree Metaverse company despite experiencing a challenging downturn in the technology sector markets.
- $1.7M in Q3 2022 revenue (Dec 2021 - Feb 2022), representing a 275% increase compared with Q3 2021.
- $2.3M in YTD 2022 revenue (Jun 2021 - Feb 2022), doubling that of the same period YTD 2021.
- $0.9M in forecasted Q4 2022 revenue (Mar 2022 - May 2022), doubling that of Q4 2021.
- $3.2M in forecasted FY 2022 revenue (Jun 2021 - May 2022), doubling that of FY 2021.
- Departure Lounge acquisition building upon AMPD infrastructure foundation to develop a full 360-degree Metaverse company.
FY Q3 HIGHLIGHTS
Building upon the momentum of its oversubscribed private placement towards the end of November 2021, AMPD quickly finalized the acquisition of Departure Lounge Inc., which was instrumental in building upon AMPD's position as an infrastructure provider for next generation applications to develop a full 360-degree Metaverse-focused organization.
As Joseph Morton at Equity Guru notes in an article from February 2022, the AMPD group now has both the computing infrastructure necessary to host the Metaverse - ‘the levers and hydraulics and the workings behind the curtain' - but now also the ‘wizard needed to run the show' as Departure Lounge adds the technologies required to access the Metaverse, the experienced creative team to help build the Metaverse, and the Web3 team to help monetize the Metaverse.
Since the acquisition, Departure Lounge has secured its headquarters, hired industry veteran, Adam Rogers, to lead its creative services team, established a Web3 team to capitalize on the opportunity represented by the intersection of Web3 and Metaverse, announced the formal launch of its partnership with volumetric capture pioneers, Metastage Inc., and entered an education collaboration agreement with the Centre for Digital Media through which it will be the keystone partner in a planned Metaverse Innovation Centre.