YDreams Global Technologies Inc. (TSX-V: YD) ("YDreams" or the "Company") a leading designer and developer of augmented and virtual reality experiences, interactive solutions and eSports events would like to share our monthly Corporate Update with the highlights of the past month and a summary of the accomplishments of 2018.
Arkave VR to open in Greater Toronto
The Company is pleased to announce that it has sold its first Arkave VR Arena in Canada to "Another Reality". Located in the Toronto suburb of Vaughn, Another Reality is opening its first gaming facility in early 2019 and will focus on Virtual Reality gaming.
On December 21st the first Arkave Arena will open in North America at the Andretti Indoor Karting and Games location in Marietta, Georgia. The second installation at Launch Trampoline Park in Doral, Florida will open in early January.
YDreams Studio signs two new Exhibitions
The Company was recently commissioned by a major Shopping Mall in Sao Paulo to create two new interactive exhibitions with different themes. The first will be released in the first quarter of 2019, about the universe of Unicorns and is focused on a younger audience.
The company continues to work on new projects for Embraer and Hyundai. Due to contract restrictions details are not available.
In November the Company also signed a new deal to produce an interactive VR short film for an insurance company. YDreams Global will be responsible for the full production of the content, including scripting, casting, shooting and development of the interactive VR film. The client is an international insurance company present in 20 countries with over 30,000 employees and more than 50 Billion Euros in Revenue in 2017.
Year-End Review
As we close out 2018 the Company would like to share some relevant data with its shareholders about the performance over the past year and some of the goals for 2019.
The Company delivered more than 80 projects for 26 different Clients.
Some of the Clients we worked with in 2018: Coca-Cola, University of British Columbia, Enel, Petrobras, McLaren, Embraer, Hyundai, LG and Schutz.
During the nine months ended September 30, 2018, the Company reported net sales revenue of $1,607,065 as compared to net sales revenue of $1,318,636 during the nine months ended September30, 2017. A 21,9% increase in revenues.
The Company's gross profit increased by $341,468 from a gross profit of $181,440 during the nine months ended September 30, 2017 to a gross profit of $522,908 during the nine months ended September 30, 2018.
In 2018, the Arkave VR Arena was presented at over 25 events many of which were revenue generating. The largest event was Game XP in Brazil where over 4,000 people experienced "The Last Squad" Arkave's featured game. The Arkave VR Arena was also showcased at several other high-profile events including; SXSW / Austin, Rock in Rio / Portugal, IAAPA / Orlando, VR/AR Global Summit / Vancouver and CanTech / Toronto. All of these events have gone a long way in helping to establish Arkave VR as a leader in the Free Roaming VR space.
For 2019 the Companies main goals are:
--Rollout of the Arkave VR Arenas with a target of 100 arenas launched;
--Release of the first edition of an eSports gaming festival combining the interactive exhibitions with competitive gaming;
--Licensing IP to create high level Arkave content;
--Increase in Revenues for YDreams Global Studio Division;
The YDreams Team would like to wish its Shareholders, Investors, Clients, Partners, Friends and its Families Happy Holidays and a wonderful 2019, full of joy and prosperity.