During the current push very digital media, there has been a defining moment which the digital animation industry is now using for its standard. At the 2014 Billboard Music Awards, the exhibition performance amazed the world. Five years after the death of the world famous entertainer, Michael Jackson, he was all of a sudden on stage singing and dancing with live dancers and also sporting his signature moon walk. It shocked people the world over and after the performance, everyone was interested to know who was responsible for this amazing show.
Pulse Evolution emerged as the company that spent years developing not only the virtual reality version of Michael Jackson but coordinating this image with live dancers and sets. Interest in the company has skyrocketed and Pulse Evolution, which now specializes in creating virtual persons, has recently released their financial statements for the year and their success due to the inaugural performance is evident.
Operational expenses at the three and six month periods were $3,452,637 and $7,024,761. There was a net loss to share holders in the company at the three and six month periods of $0.03 per share and $0.05 per share. Proceeds from the sale of common stock at the end of both periods was $2,096,588 and $4,253,309. At the end of the quarter, proceeds from the sale of common and preferred stock was $5,202,000.
The majority of operating expenses are devoted to the development of digital likenesses and is in agreements with the estates of Micheal Jackson, Elvis Presley and Marilyn Monroe. Pulse Evolution CEO, John Textor, announced the company’s move to the National Stock Exchange despite the initial capital gained on the Frankfurt, European market. According to Mr. Textor, the move to the National Stock Exchange will prove fruitful as the gain more investors and interest.
John Textor is not only the CEO of Pulse Evolution, but IMDB says he is also involved in many other digital media products in entertainment today. He has served as a producer for Transformers, Flags of Our Fathers, Tron and Pirates of the Carribean: At World’s End. Mr. Textor is well experienced in the development of digital media and Pulse Evolution can ensure they are in good hands.
As Pulse Evolution moves forward in the development of hyper-realistic digital humans and other digital technologies, next year’s financial report will prove if the move to the National Stock Exchange was in the best interest of the company.