|By Marketwired .||
|November 14, 2012 05:45 PM EST||
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/14/12 -- Rainmaker Entertainment Inc. (TSX:RNK) announced today its results for the three and nine months ended September 30, 2012. Rainmaker also announces the appointment of Mr. Craig Graham as Chief Executive Officer and Executive Chairman, effective November 15, 2012, Mr. Michael Hefferon as President and Executive Producer, effective November 15, 2012, and Mr. Shawn Turkington as Chief Financial Officer, effective November 20, 2012. The Board also appointed Ms. Delna Bhesania to the Company's board of directors.
The Company reported a loss of $1,145,898 and $3,047,801 for the three and nine months ended September 30, 2012, respectively. This compares with earnings of $426,972 and $1,193,979 for the three and nine months ended September 30, 2011.
Tim McElvaine, Chairman of the Board, commented, "It was a challenging quarter for Rainmaker. The proposed sale of the animation studio to Xing Xing Digital Corporation was not completed in September as expected. The Rainmaker board of directors and management are now focused on expanding its existing operations. I am particularly delighted that the board and management teams going forward will be bolstered by the additions of Craig, Michael, Shawn and Delna. Each individual brings unique talents to Rainmaker and, as a group, they serve to strengthen the quality and depth of our leadership team."
Mr. McElvaine added "Despite the challenges and uncertainty it was also an exciting quarter for Rainmaker as we approach the completion of production on the 3D animated family comedy feature film Escape from Planet Earth. The film is planned to be distributed by The Weinstein Company in February 2013."
Mr. Graham, the incoming Chief Executive Officer and Executive Chairman, is a current director of the Company with vast business experience at the senior management level in an array of industries. Mr. Hefferon, the incoming President and Executive Producer, has enjoyed an extensive career in the feature film and television industries. Mr. Turkington, the incoming Chief Financial Officer, is a Chartered Accountant and has extensive experience working with public companies. He will be replacing Mr. Darren Battersby effective November 20, 2012, concurrent with Mr. Battersby's resignation date. The Board would like to thank Mr. Battersby for his tenure with the Company and wish him the best of luck on his future endeavors.
Ms. Bhesania, the newly appointed director, is a principal of Bardel Entertainment Inc., a Vancouver-based fully integrated entertainment company.
Earnings decreased $1,572,870 from $426,972 in the third quarter of 2011 to a loss of $1,145,898 in 2012. The decrease is primarily due to a 60% decrease in revenue with only a 54% decrease in operating costs. In addition, an impairment of $306,967 was recognized on investment in film and television properties during the third quarter whereas no impairment or provision was recognized in the third quarter of 2011. Similarly, in the first three quarters of 2012 earnings decreased $4,241,780 from $1,193,979 in the first three quarters of 2011 to a loss of $3,047,801 in 2012. The decrease is primarily due to a 20% decrease in revenue with only a 3% decrease in operating costs. A more detailed analysis of the other components of the Company's performance can be found in its Management Discussion and Analysis as filed on www.sedar.com.
Certain information set forth in this press release contains "forward-looking statements", and "forward-looking information" under applicable securities laws. Refer to Forward-looking Statements in the Management Discussion & Analysis for the third quarter of 2012.
About Rainmaker Entertainment
Rainmaker Entertainment Inc., a multifaceted animation studio, is one of Canada's largest producers of CG animation. For more information, go to www.rainmaker.com.
Any Ops team trying to support a company in today’s cloud-connected world knows that a new way of thinking is required – one just as dramatic than the shift from Ops to DevOps. The diversity of modern operations requires teams to focus their impact on breadth vs. depth. In his session at DevOps Summit, Adam Serediuk, Director of Operations at xMatters, Inc., will discuss the strategic requirements of evolving from Ops to DevOps, and why modern Operations has begun leveraging the “NoOps” approa...
Oct. 8, 2015 05:00 PM EDT Reads: 111
The IoT market is on track to hit $7.1 trillion in 2020. The reality is that only a handful of companies are ready for this massive demand. There are a lot of barriers, paint points, traps, and hidden roadblocks. How can we deal with these issues and challenges? The paradigm has changed. Old-style ad-hoc trial-and-error ways will certainly lead you to the dead end. What is mandatory is an overarching and adaptive approach to effectively handle the rapid changes and exponential growth.
Oct. 8, 2015 05:00 PM EDT
Containers are revolutionizing the way we deploy and maintain our infrastructures, but monitoring and troubleshooting in a containerized environment can still be painful and impractical. Understanding even basic resource usage is difficult - let alone tracking network connections or malicious activity. In his session at DevOps Summit, Gianluca Borello, Sr. Software Engineer at Sysdig, will cover the current state of the art for container monitoring and visibility, including pros / cons and li...
Oct. 8, 2015 05:00 PM EDT Reads: 162
In their session at DevOps Summit, Asaf Yigal, co-founder and the VP of Product at Logz.io, and Tomer Levy, co-founder and CEO of Logz.io, will explore the entire process that they have undergone – through research, benchmarking, implementation, optimization, and customer success – in developing a processing engine that can handle petabytes of data. They will also discuss the requirements of such an engine in terms of scalability, resilience, security, and availability along with how the archi...
Oct. 8, 2015 05:00 PM EDT Reads: 389
“All our customers are looking at the cloud ecosystem as an important part of their overall product strategy. Some see it evolve as a multi-cloud / hybrid cloud strategy, while others are embracing all forms of cloud offerings like PaaS, IaaS and SaaS in their solutions,” noted Suhas Joshi, Vice President – Technology, at Harbinger Group, in this exclusive Q&A with Cloud Expo Conference Chair Roger Strukhoff.
Oct. 8, 2015 05:00 PM EDT Reads: 432
Chris Van Tuin, Chief Technologist for the Western US at Red Hat, has over 20 years of experience in IT and Software. Since joining Red Hat in 2005, he has been architecting solutions for strategic customers and partners with a focus on emerging technologies including IaaS, PaaS, and DevOps. He started his career at Intel in IT and Managed Hosting followed by leadership roles in services and sales engineering at Loudcloud and Linux startups.
Oct. 8, 2015 05:00 PM EDT Reads: 139
DevOps has often been described in terms of CAMS: Culture, Automation, Measuring, Sharing. While we’ve seen a lot of focus on the “A” and even on the “M”, there are very few examples of why the “C" is equally important in the DevOps equation. In her session at @DevOps Summit, Lori MacVittie, of F5 Networks, will explore HTTP/1 and HTTP/2 along with Microservices to illustrate why a collaborative culture between Dev, Ops, and the Network is critical to ensuring success.
Oct. 8, 2015 04:45 PM EDT Reads: 112
Between the compelling mockups and specs produced by analysts, and resulting applications built by developers, there exists a gulf where projects fail, costs spiral, and applications disappoint. Methodologies like Agile attempt to address this with intensified communication, with partial success but many limitations. In his session at DevOps Summit, Charles Kendrick, CTO and Chief Architect at Isomorphic Software, will present a revolutionary model enabled by new technologies. Learn how busine...
Oct. 8, 2015 04:45 PM EDT Reads: 237
Today’s connected world is moving from devices towards things, what this means is that by using increasingly low cost sensors embedded in devices we can create many new use cases. These span across use cases in cities, vehicles, home, offices, factories, retail environments, worksites, health, logistics, and health. These use cases rely on ubiquitous connectivity and generate massive amounts of data at scale. These technologies enable new business opportunities, ways to optimize and automate, al...
Oct. 8, 2015 04:45 PM EDT Reads: 111
Can call centers hang up the phones for good? Intuitive Solutions did. WebRTC enabled this contact center provider to eliminate antiquated telephony and desktop phone infrastructure with a pure web-based solution, allowing them to expand beyond brick-and-mortar confines to a home-based agent model. It also ensured scalability and better service for customers, including MUY! Companies, one of the country's largest franchise restaurant companies with 232 Pizza Hut locations. This is one example of...
Oct. 8, 2015 04:30 PM EDT Reads: 7,457
There are so many tools and techniques for data analytics that even for a data scientist the choices, possible systems, and even the types of data can be daunting. In his session at @ThingsExpo, Chris Harrold, Global CTO for Big Data Solutions for EMC Corporation, will show how to perform a simple, but meaningful analysis of social sentiment data using freely available tools that take only minutes to download and install. Participants will get the download information, scripts, and complete en...
Oct. 8, 2015 04:30 PM EDT Reads: 234
IT data is typically silo'd by the various tools in place. Unifying all the log, metric and event data in one analytics platform stops finger pointing and provides the end-to-end correlation. Logs, metrics and custom event data can be joined to tell the holistic story of your software and operations. For example, users can correlate code deploys to system performance to application error codes.
Oct. 8, 2015 04:30 PM EDT Reads: 191
SYS-CON Events announced today that VividCortex, the monitoring solution for the modern data system, will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. The database is the heart of most applications, but it’s also the part that’s hardest to scale, monitor, and optimize even as it’s growing 50% year over year. VividCortex is the first unified suite of database monitoring tools specifically desi...
Oct. 8, 2015 04:00 PM EDT Reads: 459
There are many considerations when moving applications from on-premise to cloud. It is critical to understand the benefits and also challenges of this migration. A successful migration will result in lower Total Cost of Ownership, yet offer the same or higher level of robustness. Migration to cloud shifts computing resources from your data center, which can yield significant advantages provided that the cloud vendor an offer enterprise-grade quality for your application.
Oct. 8, 2015 04:00 PM EDT Reads: 219