Idw held a brief income call yesterday after the annual report was released. For those who like to dig at such things, this is quite long. Most of the news is positive losses. The income is essentially flat-$ 26.4 million in 2024, while 2023 was $ 26.7 million. However, the operating expenses have been reduced by 4 million US dollars, resulting in a net loss $ $1,395,000, less than $ 4,928,000 in 2023. The belt tighten the project. (ICV2 has more analysis here.)
CEO Davidi Jonas I have issued some issues on the phone, including some issues of investors, including the forward -looking statement of the report, that is, the bankruptcy of the diamond may affect the IDW, because “the collection of certain accounts sold by the company distributor is The problem, but the amount of US dollars involved in receivables cannot be estimated at present, people have a lot of doubts about the company’s ability to continue to worry about. “
Jonas responded to “some of the Chat on the diamonds and chaos” on the phone, but clarified: “IDW management does not consider IDW to be a major risk of continuous attention. We hope to be in the next few days in the next few days. Among them, we will reiterate finances, delete the language, and cooperate with the auditor to provide other information and other clarity so that they can share our point of view, that is, the risk of IDW’s continued risk is not very risky. focus on.”
The auditors who are preparing for the report pointed out that it is unclear whether the IDW will involve Money Diamond Wowes PRH -more than $ 9 million in sales exceeded $ 9 million, and Diamond serves as a wholesaler.
Although as of June 2022, the company no longer distributes directly through Diamond Diamonds are still the client of our distributor Penguin Book House (“PRH”). Prh is the creditors of Diamond, Including the IDW product distributed by PRH through Diamond. PRH pays the IDW of the IDW product ordered by Diamond, and due to Diamond’s bankruptcy, PRH may not be able to collect all or any corresponding amount of Diamond owed PRH. PRH said to IDW that they understand the relevant terms of the contract -related clauses between IDW and PRH. Most of the unused amounts will be borrowed from PRH from PRH to IDW’s future payment. IDW has not received any formal written communication or PRH confirmation proposition. IDW is currently unable to evaluate the possibility of PRH to find any amount to deduct future payment. Any type of potential of such a potential debit or the possibility of any time for such lenders. IDW is also evaluating the relevant contract language of the current parties and the rights and obligations of the parties. In view of the above content of this report, we cannot determine the potential impact, but it may have a significant negative impact on our future financial performance and cash status. The company will minimize any impact as possible.
Other parts of the annual report, it is stated that the IDW’s cash is $ 7,432,000, and the operating funds are $ 17,772,000.
Jonas said on the phone: “This is the initial stage of the bankruptcy procedure. The percentage of diamond occupying the company’s income is significant, but not so. We think it may have an impact, but now it is too important to say how important it will be. “
He added that if the diamond really disappears, “we do think other stores, retailers will find that other distributors can buy products from it.”
IDW Entertainment continues to work on the media. There are four properties that are actively developing:
● Use Amazon content to serve the killing lock
● Reading with weird pictures/vertigo entertainment
● The cruel nature of Anima Studios, the leading Mexican animation studio
● Delicious dishes with Warner Brothers TV Studio
On one occasion, Jonas was asked to outline the general media landscape, and he wisely believed that it was a potentially dangerous opportunity. He continued: “I do think that the media landscape has developed greatly, almost a day, but it must be in the past five years. And I do think that there is potential against the wind while winding. A good place. If you want, this is a bit avant -garde. “He pointed out that more than half of the current content consumed is a short video. It can be open.E regards short videos as a space. We believe that there is a gap in that market. As a storytelling person and a company related to the storytelling, we have promoted the space for those who tell stories to pass their information space. There is our opportunity there.
“At the same time, our core focus is to continue to achieve excellent achievements as comics and graphic novel publishers, but at the same time, open thinking and opportunism.”
No one asked the tariff because it was put on hold before the phone.
(Jonas’s famous saying has been edited as clear.)
