Galleria Opportunities to Complete RTO With QYOU Media and Raise $4 Million - Seite 4
Founded and created by industry veterans Scott Ehrlich, Curt Marvis, Les Garland and G. Scott Paterson, all of whom have extensive histories in both traditional and digital media, QYOU's operations are headquartered in Dublin, Ireland.
Financial Information for QYOU Media Inc.
Based on unaudited management prepared financial statements for the nine month period ended September 30, 2016, QYOU had operating expenses of $6,322,963, and a net loss of $4,653,608. In addition, as at September 30, 2016, QYOU had current assets of $1,639,058, working capital of $365,322, total assets of $2,330,736 and liabilities of $1,273,736. The QYOU statements were prepared in accordance with IFRS.
Summary of Proposed Directors and Officers
Following completion of the Transaction, the following individuals will be the directors and officers of the Resulting Issuer:
G. Scott Paterson, Chairman of the Board
G. Scott Paterson is a media/technology venture capitalist. Mr. Paterson serves as a Director of Lionsgate Entertainment and Chair of the company's Audit & Risk Committee. He also serves as Chairman of Symbility Solutions Inc., a cloud-based SaaS provider of software to the insurance industry; and Chairman of Engagement Labs Inc., a cloud-based SaaS provider of software for marketers.
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Scott H. Ehrlich, Co-Chief Executive Officer and Director
Mr. Ehrlich has been Chief Executive Officer of Agility Studios, LLC since May 2008. Prior thereto, he was Partner of Dig works, LLC from May 2005 to May 2008. As Chief Executive Officer of QYOU, Mr. Ehrlich is responsible for day-to-day business operations including strategy, marketing initiatives, financing and developing key industry partnerships. He brings a three decades long track record of successfully creating new ventures in television, technology and new media.
Curt Marvis, Co-Chief Executive Officer and Director
Curt Marvis is currently Co-Chief Executive Officer and Co-Founder of QYOU.
Mr. Marvis previously served as Lionsgate's President of Digital Media from April 2008 to June 2013, helping the company evolve into a leading next-generation filmed entertainment studio. Mr. Marvis was responsible for guiding the company's portfolio of digital businesses including Lionsgate's broad spectrum of digital delivery agreements for its filmed entertainment content.