$TPTW the company filed its 2019 annual Form 10-K
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Posted On: 04/20/2020 8:30:10 AM
$TPTW the company filed its 2019 annual Form 10-K which included record top line revenues for the Company. The company's revenues for 2019 were $10.2M, a 990 % increase from the prior year. This increase resulted primarily from its acquisition of the assets of SpeedConnect, LLC and the increase of Blue Collar's 2019 revenues from its film production activity.
These increases in revenues helped improve our loss from operations before depreciation, amortization and share based compensation (Non GAAP) from a 2018 loss of $2,897,807 to a loss of $152,571 for the 2019 calendar year. Although the overall net loss for 2019 was $14M, most of this was due to accounting for our derivative financing instruments which reflected over $10M in non-cash expense on our profit and loss. We hope to refinance these derivative financing instruments in the current year.
"Operationally 2019 was a banner year for TPT Global Tech's revenue growth due to our acquisition activities in our Telecom division and organic growth opportunities in our Content Media division. We are very pleased to announce our 2019 numbers which reflect how hard the company has worked to continue moving its mission or corporate objectives forward as we move into 2020."
These increases in revenues helped improve our loss from operations before depreciation, amortization and share based compensation (Non GAAP) from a 2018 loss of $2,897,807 to a loss of $152,571 for the 2019 calendar year. Although the overall net loss for 2019 was $14M, most of this was due to accounting for our derivative financing instruments which reflected over $10M in non-cash expense on our profit and loss. We hope to refinance these derivative financing instruments in the current year.
"Operationally 2019 was a banner year for TPT Global Tech's revenue growth due to our acquisition activities in our Telecom division and organic growth opportunities in our Content Media division. We are very pleased to announce our 2019 numbers which reflect how hard the company has worked to continue moving its mission or corporate objectives forward as we move into 2020."
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