Rainmaker Entertainment Announces Financial Results for the 4th Quarter and Fiscal Year End 2014

VANCOUVER, BC--(Marketwired - April 28, 2015) - Rainmaker Entertainment Inc. (TSX VENTURE: RNK) today announced its results for the three and 12 months ended December 31, 2014. Rainmaker reported a loss of $1.96 million ($0.11 per share) for the year ended December 31, 2014 compared with a loss of $2.94 million ($0.17 per share) for 2013. For the fourth quarter ending December 31, 2014 the Company reported a loss of $0.06 million ($0.00 per share) compared with loss of $0.71 million ($0.04 per share) for the fourth quarter of 2013.

$thousands, except per share amounts

Q4 2014

Q4 2013

2014

2013

Revenue

3,360

1,727

10,169

7,818

Loss from operations

(55

)

(708

)

(2,066

)

(3,046

)

Deferred Income tax recovery

110

109

Loss and total comprehensive loss

(55

)

(708

)

(1,956

)

(2,937

)

Loss per share

- basic and diluted

$

(0.00

)

$

(0.04

)

$

(0.11

)

$

(0.17

)

The Company achieved a 95% increase in revenues in the fourth quarter of 2014 compared to 2013, and achieved a 30% increase in the annual revenues as compared to 2013. This stronger revenue performance reflects the Company's increased production volumes, largely driven by Bob the Builder, Rainmaker's most recently announced service production.

Michael Hefferon, President and Chief Creative Officer, commented, "We are very pleased with the steady improvement that the Company's revenues show in comparison to 2013. We are working toward continuing this trend and look to further increase production service levels over the full year-ending 2015. We are on track to complete our second theatrical feature film, Ratchet & Clank, in the first quarter of 2015, and working towards announcing a theatrical release date for the film. With the successful re-launch of our Mainframe division, we look to continue our growth in the television production space in 2015 in both production service and proprietary productions."

Craig Graham, Chief Executive Officer, added, "The 2014 year was another challenging year however we took steps this year to move the Company forward. Some of the key accomplishments include:

  • Improved cash flow from operations by $1.6 million;

  • Reduced operating losses by approximately $1.0 million;

  • Raised $7,500,000 of convertible debentures; and

  • Secured Bob the Builder Series as a long term production services series.

"We are actively pursuing new opportunities on both production service and intellectual property projects, while exploring strategic opportunities to further grow as a multi-faceted media Company."

Forward-Looking Statements
Certain information set forth in this press release contains "forward-looking statements", and "forward-looking information" under applicable securities laws. These statements relate to future events or future performance and include, but are not limited to, statements regarding our future plans and financial performance. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect", and similar expressions are often used to identify forward-looking statements. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific. In evaluating these statements, readers should specifically consider risks which may cause actual results to differ materially from any forward-looking statement. The forward-looking statements contained herein are based upon certain assumptions considered reasonable at the time they were prepared. Such assumptions include, but are not limited to, assumptions regarding: (i) general economic conditions, (ii) Rainmaker's future business prospects and opportunities, and (iii) Rainmaker's ability to complete any or all of its proposed production work. Should one or more of the risks or uncertainties identified herein materialize, or should the assumptions underlying the forward-looking statements prove to be incorrect, then actual results may vary materially from those described herein. In respect of Rainmakers business generally, readers should also refer to Forward-looking Statements in the Management Discussion & Analysis for year ended December 31, 2014. Readers are cautioned not to place undue reliance on forward-looking statements. Except as required by applicable securities laws, Rainmaker does not assume any obligation to update the forward-looking statements contained herein.

About Rainmaker Entertainment
Rainmaker Entertainment Inc., a multifaceted animation studio, is one of Canada's largest producers of CG animation. Rainmaker's first feature film Escape from Planet Earth, distributed by The Weinstein Company, enjoyed its theatrical release on February 15, 2013. Currently the studio is working on its second feature, Ratchet & Clank. Based on the popular Sony PlayStation game, this film is slated for release in 2015. Further information available at:
Website: www.rainmaker.com

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