Another Profitable Quarter Despite Non-Election Year
VANCOUVER, WA / ACCESSWIRE / November 18, 2021 /Adaptive Ad Systems, Inc. (OTC PINK:AATV) has released the Company's quarterly report for the period ending on September 30, 2021. It is the 26th profitable quarter over the past seven years for the Company. Adaptive provides Dynamic Digital Ad Insertion (DDAI) via its streaming media hardware and proprietary processing software for all U.S. cable T.V. markets, with a particular focus on underserved rural markets and High Speed Fixed Wireless Internet Service (WISP) via its network of Hybrid Access Points and Micro POPs.
The Company reports that despite the continuing disruption of nationwide business in nearly every industry because of the COVID 19 pandemic and the fact that the Company typically experiences lower ad revenue during non-election years, it was able to continue deployment of the contracted ad insertions throughout its growing cable television network. Thus, the Company reports that it generated sufficient revenue generating another profitable quarter.
Most television advertising operations in the U.S. were negatively affected by the unprecedented impact of the Pandemic and the typically reduced advertising revenue during this non-election year 2021. Accordingly, Adaptive's $1,402,101 in sales for the three months ending September 30, 2021, was lower than the $3,519,410 in sales for the same period in 2020. Even so, Adaptive was still able to generate a net profit of $131,088 and improved its cash position to $6,225,508, while assets increased to $16,112,087. Furthermore, compared to the off-election year of 2019, Adaptive's revenue for nine months ending September 30 was up $215,629, or about 43%, and three-month revenue was up by a factor of over sixteen times.
CEO J. Michael Heil states: "We continued installing our proprietary digital ad insertion systems, tested our new broadband technologies in beta markets, acquired a television station in Reno, Nevada, and continued expansion of our footprint in the underserved rural areas of the U.S. We will continue on this path of aggressive expansion into targeted markets that our systems and technologies were built for and will provide valuable and affordable digital advertising and broadband services for these markets. Additionally, with the passage of the new bi-partisan infrastructure bill and the inevitable significant investment into broadband technology for all, specifically the underserved rural markets we have been servicing for years, we anticipate demand for our services will increase, and our revenue will develop more balanced in future years. We expect a substantial increase in revenues again during the mid-term election tear 2022 and, in addition, are already researching and implementing plans to take advantage of the newly presented opportunities created by our technology developments and the historic government initiatives in rural infrastructure improvements
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 deploys streaming media hardware and proprietary processing software for the Cable T.V., Satellite, IPTV markets. Via its subsidiary Adaptive Broadband (ABB), the Company provides High Speed Fixed Wireless Internet Service (WISP) to residences and small offices via a network of Hybrid Access Points and Micro POPs. The Company's DDAI and WISP services target the often-over-looked 2nd and 3rd Tier cable T.V. and rural WIFI markets and now also Tier 1 markets across the U.S. Adaptive's proprietary software and hardware, installed in scores of cable television systems across the United States, creating a "network" of linked cable tv system. This allows advertisers to purchase ads across the nationwide Adaptive network, generating significantly more ad impressions than traditional ad insertion technologies in individual systems. Adaptive Ad Systems has established an innovative revenue share agreement with each cable tv system and manages all ad-related activities. Currently, the Company serves over seventy-five designated marketing areas in over forty states. The Company's Adaptive Broadband network system provides services. For additional information, please visit: www.aatv.co.
Any statements contained in this press release that do not describe historical facts constitute forward-looking statements. Forward-looking statements may include, without limitation, financial projections, statements regarding the plans and objectives of management for current and future operations, the development, regulatory approvals, and commercialization of the Company's products, or any of the Company's proposed services, systems, services, licensing arrangements, joint ventures, partnerships, or acquisitions. Such forward-looking statements are not meant to predict or guarantee actual results or performance, which may differ considerably. Factors that may cause actual results to differ materially from any projections may include, without limitation, delays in the Company's development of its products and services, the inability to obtain requisite financing, the impact of significant new or changing government regulations on the industry, existing or increased competition, results of arbitration or litigation, stock volatility and illiquidity, and possible general failure to implement the Company's business plans or strategies effectively. The Company assumes no obligation to update any forward-looking statements to reflect any change in events or circumstances that may arise after the date of this release.
Adaptive Ad Systems, Inc.
SOURCE:Adaptive Ad Systems, Inc.
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