RE:RE:RE:Going to pennies soon ?And very soon back to pennies once again . First Quarter 2019 Financial Results (All amounts in U.S. dollars) Revenue decreased 69% to $1.9 million from $6.1 million in the prior quarter and decreased 68% from $5.8 million in the first quarter of 2018. The year-over-year decrease in revenue was due to a significant decrease in license and usage fees and advertising revenues primarily driven by terminations at the end of 2018 of the Company's customer agreements with Raycom Media, Inc. ("Raycom") and Gray Television, Inc. ("Gray"), who finalized their merger on January 2, 2019, and who accounted for 18% and 26%, respectively, of the Company's revenue for the year ended December 31, 2018. Separately, five other of the Company's top customers terminated their agreements on or before December 31, 2018. In the aggregate, these terminations represented a significant percentage of the Company's revenue and have had a material negative impact on 2019 revenues and related net income (loss). Net loss totaled $(2.0) million compared to net income of $8.1 million in the prior quarter and net loss of $(3.8) million in the first quarter of 2018. The sequential decrease in net loss of $10.1 million was primarily due to gain on extinguishment of debt of $9.3 million recognized in the fourth quarter of 2018. The year-over-year decrease in net loss of $1.8 million was primarily due to decreases in cost of revenue of $1.4 million, general and administrative expense of $1.6 million, and depreciation and amortization expense of $1.1 million. Additionally, during the quarter ended March 31, 2018, the Company incurred restructuring expense and retention expense of $0.5 million and $0.6 million, respectively, compared to no restructuring expense and $0.2 million in retention expense in the quarter ended March 31, 2019, a total decrease of $0.9 million. Lastly, during the quarter ended March 31, 2018, the Company incurred interest expense, net of $0.6 million compared to no interest expense in the quarter ended March 31, 2019. These decreases in expenses were partially offset by the $3.9 million decrease in revenue discussed above. Adjusted EBITDA loss totaled $(1.7) million compared to adjusted EBITDA loss of $(0.3) million in the prior quarter and adjusted EBITDA loss of $(0.8) million in the first quarter of 2018 (see discussion about the presentation of adjusted EBITDA under the heading "Non-GAAP Measures" below). The year-over-year increase in adjusted EBITDA loss of $0.9 million was primarily due to the $3.9 million decrease in revenue discussed above, partially offset by $3.0 million decrease in cost of revenue and general and administrative expense discussed above. In addition, the Company capitalized software development costs in the quarter ended March 31, 2018 of $0.7 million compared to $0 in the quarter ended March 31, 2019. In the third quarter of 2018, the Company fully impaired its capitalized software development costs. As a result, beginning in the fourth quarter of 2018, the Company no longer capitalized these costs, which consisted of employee and contractor costs. When considering capitalized software development costs in the 2018 period, on a comparable basis to the 2019 period, adjusted EBITDA loss would have amounted to $(1.5) million. At March 31, 2019, the Company had $2.2 million in cash.