ADTM Adaptive Medias Inc (CE)

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

_______________

 

Form 8-K

 

CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

Date of Report (Date of earliest event reported): July 1, 2015

 

Adaptive Medias, Inc.

(Exact name of registrant as specified in its charter)

 

	333-155318
	(Commission File Number)
Nevada		26-0685980
(State or other jurisdiction of Incorporation)		(I.R.S Employer Identification No.)

 

16795 Von Karman Ave., #240

Irvine, CA 92606

(Address of principal executive offices)

 

949-525-4466

(Registrant’s telephone number, including area code)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

¨	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)).

 

 

Item 7.01

Regulation FD Disclosure.

 

On July 1, 2015, Adaptive Medias, Inc., a Nevada corporation (the “Company”), issued a press release providing guidance for the Company’s second quarter fiscal year 2015 financial results and to offer management’s view of the Company’s growth strategy and long term financial prospects. A copy of the press release filed herewith as Exhibit 99.1.

 

The information contained herein and the attached exhibit is furnished to, but for purposes of Section 18 of the Securities Exchange Act of 1934 shall not be deemed filed with, the Securities and Exchange Commission. The information contained herein and in the accompanying exhibit shall not be incorporated by reference into any filing of the Company, whether made before or after the date hereof, regardless of any general incorporation language in such filing, unless expressly incorporated therein.

 

Item 9.01

Financial Statements and Exhibits.

 

(d) Exhibits

 

Exhibit No.		Description
99.1		Press Release dated July 1, 2015

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Date: July 1, 2015	ADAPTIVE MEDIAS, INC.
	/s/ Omar Akram
	Omar Akram
	President and Chief Financial Officer

 

 

Exhibit 99.1

 

 

ADAPTIVE MEDIAS, INC. PROVIDES POSITIVE CORPORATE UPDATE

 

Highlights:

 

· Second Quarter Revenues Expected to be between $1 Million and $1.1 Million

· Successful Cost Reduction Plan to Help Achieve Breakeven Results Ahead of Schedule

· Focus on “Mobile First” Ad-Tech Platform Meeting with Increasing Customer Demand

 

IRVINE, California, July 1, 2015 - - Content syndication and monetization company, Adaptive Medias, Inc. (OTCQB: ADTM), a leader in programmatic advertising across mobile, video and online display, today provided financial guidance for its second quarter fiscal year 2015 results.

 

Company’s Focus on Media Graph Platform Key to Future Revenue Growth

 

Revenues for the second quarter are expected to be between $1 million to $1.1 million, compared to $1.1 million in the second quarter of 2014. The Company noted that its business strategy going forward will focus more on supporting the growth of Media Graph, its industry-leading high margined “mobile first” ad-tech platform, versus its earlier focus on lower-margined ad revenues from its marketplace platform. This shift in strategy is expected to generate more consistent recurring revenues and growth in the Company’s gross margins.

 

Company Expects to Achieve Breakeven Results Earlier than Anticipated

 

The Company today also announced that its recently implemented cost reduction plan, which, coupled with its strong revenue pipeline, has significantly reduced its operating losses. As a result, the Company expects to achieve positive cash flow and breakeven results earlier than previously anticipated. However, the Company still expects a need to raise additional capital in the interim until profitability is achieved.

 

“For our people, we need to create an empowered, entrepreneurial culture that fosters more creativity and innovation. Over the years we've seen that tighter, more nimble teams can drive faster innovation and deliver higher value,” said Omar Akram, President and Chief Financial Officer of Adaptive Medias, Inc. “As a result, during the first half of 2015, we executed a cost reduction plan designed to focus, simplify and align costs with our most promising opportunity, our Media Graph platform. We expect these cost reductions to generate substantial annualized savings through workforce cuts, decreasing reliance on certain outside services and reducing our general overhead. Although this was a difficult but necessary decision, I believe this plan places us in the best long-term position for success.”

 

Mr. Akram continued, “We took a number of important actions in the first half of 2015 to support our long-term growth. These actions include the continued rollout of our Media Graph platform, a reduction in operating costs and securing additional capital. We believe these actions enable the Company to accelerate revenue growth, improve margins, and slow our burn rate moving us closer to profitability. As we move into the second half of the year, we remain focused on our long-term growth drivers, with disciplined near-term execution and focus on our customers.”

 

 

ABOUT ADAPTIVE MEDIAS, INC.

 

Adaptive Media, Inc. (OTCQB: ADTM) is a programmatic audience and content monetization provider for website owners, app developers and video publishers who want to more effectively optimize content through advertising. The Company provides a foundation for publishers and developers looking to engage brand advertisers through a multi-channel approach that delivers integrated, engaging and impactful ads across multiple devices. Adaptive Media meets the needs of its publishers with an emphasis on maintaining user experience, while delivering timely and relevant ads through its multi-channel ad delivery and content platform. For more information, please visit www.adaptivem.com. Also, follow them on Twitter @adaptive_m.

 

This Press Release may contain certain forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. Adaptive Medias, Inc. has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect Adaptive Medias' current beliefs and are based on information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause Adaptive Medias' actual results, performance or achievements to differ materially from those expressed in or implied by such statements. Adaptive Medias undertakes no obligation to update or provide advice in the event of any change, addition or alteration to the information contained in this Press Release including such forward-looking statements.

 

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Investor Relations Contact:

AJ Homayun

818 280-6800

Email: ahomayun@irpartnersinc.com