Q2: 190% Revenue Growth w Positive EBITDA & Cashflow…7 months after the close of the Tourbuzz acquisition Urbanimmersive just put up a positive EBITDA and Cashflow Quarter in the MIDDLE OF WINTER!!! Cost are being pulled out of the business and things are looking bright leading into the summer selling season. Lets Dig; Revenue & Gross Merchant Volume Core Gross Merchant Volume increased 312% YoY which resulted in 190% Revenue growth YoY which gives you a figure of Revenue as a % of GMV of 53%. Couple things here, Gross Merchant Volume The business can be broken down into two distinct halves. Winter (Q1/Q2) and Spring/Summer selling season in real estate (Q3/Q4). With 1H running at a GMV pace of 2.2 -2.3m GMV/Quarter and look for the back half of the fiscal year for GMV to accelerate to 1M GMV/month pace. With May going to put up the first 1M GMV month in company history. IMPACT: With the back half of the year running at a 35 40% higher clip then the first half when they were already breakeven on profitability all that incremental revenue will flow right down to the bottom line. Operational Leverage at its finest. Revenue Growth This will be a less impart figure going forward as they switch the way they do the invoicing which will reduce revenue growth but will increase margins you can start to see it in the QoQ numbers. IMPACT: Another example how they are streamlining the business which bodes well on a go forward basis it will be more about watching gross profit dollar growth, but tripling revenues I will take it. Revenue as a % of GMV Continues to run in that 50 60% range so we can use this figure to model out future revenue growth. However, with the revenue recognition changes might run a little lower closer to a 45 55% range but the trade off will be an expansion in gross margin. IMPACT: Using the real time data you can see how the business is accelerating with the next 6 months running closer to a 3M GMV quarterly pace. 1.5 2.0M revenue pace with a gross margin closer to a 55 60% figure you are going to be growing gross profit dollars to take down the income statement. Profitability & Cashflow Operating Cashflow of $77,826 up from a loss $(291,155) last year and EBITDA of $157,362. Just two full Qs post Tourbuzz acquisition putting up these positive metrics is quite impressive. When the Tourbuzz acquisition was closed in September (Stock of 0.125/share) and you could of known they would be EBITDA & Cashflow positive 2 Qs later would you of thought the stock would be higher/lower. I would of said higher yet I was buying the stock yesterday at 0.07/share at over a 40% discount cheap cheap cheap. Scary thing, I think there is still a lot of cash costs to take out of the operating model. Take the first 2 Qs for example. Costs of Sales & Opex Costs (on a cash basis) in Q1 were $1,395126 relative to Q2 were $1,062,023 or a 25% cash reduction in costs!!! most impressive stat in the Q. Take for example in 2H of Fiscal 19 the severance costs for Tourbuzz employees rolls off and change in invoicing you have a lean cash operating model that now could be at a run rate <$1m uarter.="" so="" that="" 35="" ="" 40%="" increase="" in="" gmv="" and="" resulting="" revenues="" will="" flow="" right="" down="" the="" income="" statement="" ="" operating="" leverage!!!="" looking="" out="" next="" 2="" qs="" this="" is="" when="" we="" are="" going="" to="" see="" the="" business="" really="" start="" to="" accelerate="" in="" its="" seasonally="" strong="" months.="" projecting="" out,="" i="" can="" paint="" a="" picture="" where="" gmv="" runs="" 1m/month="" for="" the="" next="" 6="" month="" period="" with="" a="" conversion="" rate="" of="" 50%="" as="" a="" percentage="" of="" revenue="" gets="" me="" to="" $3m="" in="" revenue="" with="" a="" stronger="" gross="" margin="" of="" 60%.="" so="" if="" we="" come="" back="" to="" the="" cash="" operating="" model="" running="" at="" a="" pace="" of="" $(1)m/quarter="" that="" leaves="" $1m="" in="" ebitda="" for="" the="" back="" half="" of="" the="" year!!!="" ="" $1m="" in="" ebitda="" in="" 6="" months="" when="" the="" entire="" market="" cap="" of="" the="" company="" is="" 5m="" too="" cheap.="" the="" us="" 10="" yr="" yield="" is="" 2.23%="" as="" i="" speak,="" if="" that="" is="" not="" bullish="" for="" housing="" i="" dont="" know="" what="" is="" ="" keep="" in="" mind,="" there="" is="" a="" large="" us="" component="" to="" the="" revenue="" mix="" of="" urbanimmersive="" especially="" with="" the="" tourbuzz="" acquisition.="" this="" one="" name="" has="" the="" greatest="" risk="" reward="" setups="" on="" the="" venture="" right="" now,="" especially="" as="" you="" can="" watch="" the="" gmv="" on="" a="" daily="" basis="" to="" confirm="" your="" investment="" thesis.="" ceo="" making="" a="" presentation="" tonight,="" i="" strongly="" suggest="" attending="" if="" you="" are="" in="" the="" montreal="" area.="" i="" think="" its="" just="" eyeballs="" that="" have="" to="" come="" back="" to="" this="" name="" because="" they="" have="" a="" good="" story="" to="" tell="" when="" nobody="" is="" looking.="" could="" get="" a="" nice="" move="" to="" close="" the="" week.="" close="" your="" eyes="" and="" buy="" it=""><0.10/share. wont take much for it to move once it gets going. long hare.="" wont="" take="" much="" for="" it="" to="" move="" once="" it="" gets="" going.="" long="">