Alliance Media Holdings Inc. Reports Financial Results For The Three Months Ended September 30, 2019 And Twelve Months Ended June 30, 2019

NEW YORK, Dec. 26, 2019 /PRNewswire/ -- Alliance Media Holdings Inc. (OTC-Pink: ADTR), a developer, publisher and distributor of interactive video games and gaming products, today announced its financial results for the three months ended September 30, 2019 and for the twelve months ended June 30, 2019.

For the twelve months ended June 30, 2019, the company lost $2.3 million on sales of $6.9 million.  During the three months ended September 30, 2019, the company lost $410,000 on sales of $461,000.

The company has prepared its consolidated financial statements using the generally accepted accounting principles applicable to a going concern, which contemplate the realization of assets and liquidation of liabilities in the normal course of business.  The company has reported substantial operating losses for the previous two fiscal years, as well as for the three months ended September 30, 2019.  Furthermore, the company currently does not have a bank line of credit or other sources of immediate capital, and its current liabilities exceed current assets.  As a result, substantial doubt exists about the company's ability to continue as a going concern.

Safe Harbor

Certain statements contained in this press release contain forward-looking statements including without limitation, statements concerning our operations, economic performance, and financial condition.  The words "estimate," "believe," "expect," "should"', "will", "plan", and "anticipate" and other similar expressions generally identify forward-looking statements, which speak only as of their dates.

Investors are cautioned that all forward-looking statements, which are based largely on our current expectations, involve risks and uncertainty. Actual results, events and circumstances (including future performance, results and trends) could differ materially from those set forth in such statements due to various factors, risks and uncertainties, including without limitation, risks associated with technological change, competitive factors and general economic conditions, including the related impact on discretionary consumer spending, our ability to obtain sufficient capital to both sustain current operations and fund future growth, changes in marketing and distribution strategies by manufacturers, timely development and release of video game products we produce, potential cost overruns in our development of video games, ability to protect our intellectual property rights, potential claims that we have infringed the intellectual property rights of others, market acceptance of games we develop and / or publish, ability to realize anticipated benefits of acquisitions, potential undiscovered liabilities of companies that we acquire, changes in our business or growth strategy, the emergence of new or growing competitors, various other competitive and technological factors. There can be no assurance that the results referred to in the forward-looking statements contained in this release will occur. The company has no duty and undertakes no obligation to update any forward-looking information, whether as a result of new information, future developments or otherwise.

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SOURCE Alliance Media Holdings Inc.