Liquid Media Group Ltd YVR was halted for trading several times Tuesday, hitting an intraday high of $7.29. CEO Ron Thomson joined Benzinga's "Power Hour" show to talk about its recent capital raise, exploring the NFT market and much more.
What Is YVR? Liquid Media Group offers a "Shopify-like" suite of products for the filmed entertainment and video game industries. The company's end-to-end solution targets independent content creators to package, finance, deliver and monetize their video IP globally.
$6M Capital Raise: Liquid Media confirmed Monday the closing of a $6 million direct offering that will be used to finance accretive acquisitions and for general growth purposes.
The capital raise marks a contrast to prior months where "things have been tight" but now management has the capacity to "execute on our plans," the CEO said.
NFT Play: Thomson said he has been aware of non-fungible tokens (NFTs) for a while and management is "exploring it in depth."
"It's certainly becoming something in our industry, and we are seeing some of the companies in our business embrace them and so we are very much looking forward to learning more about NFTs and finding a way that we can incorporate those into our business model going forward," Thomson said on "Power Hour."
While still in the "exploring" stage, the company, along with its peers, are all taking a "cautious" approach to how it's embracing NFTs, he said. Nevertheless, it will be something to "seriously consider" moving forward and the company will eventually have an NFT strategy.
Current Focus: The entertainment finance market is going through a major shift and management identified a way to "take advantage" of the changes, Thomson said. Liquid Media is positioning itself to "safely package content" on behalf of its customers and then monetize the content so the customer can generate higher returns.
"The big idea for us is really providing this sort-of end-to-end solutions approach where we can really provide a significant business ally to our customers," he said.
The company needs to push out its message to grow the business, but the CEO doesn't see this as a challenge. Liquid Media Group offers an integrated solution backed by best-in-class technologies, big data analytics, distribution and monetization.
"We provide a safe, de-risked approach to funding production and I think that is something that is in short supply," he said.
Atari Deal: On March 3, Liquid Media inked a distribution agreement with Atari. As part of the deal, Liquid Media's video-on-demand distribution platform SlipStream will be made available for download on the new Atari VCS PC/console hybrid.
"We are right at the forefront of working with one of the hottest companies in the business in Atari and we are really excited about it," he said. "It's a big deal."
Liquid Media's stock trades around $5.05 at publication time.
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