Administrative expenses increased to $0.7 million in 3Q19 from $0.4 million in 3Q18 mainly due to the expansion of the group’s business operations that comprises manpower costs, IPO listing fees, depreciation charges, rental and travelling expenses.
Looking ahead, Vividthree said it is optimistic for both its content production and post-production business segments.
Tapping on the highly anticipated upcoming movie “Train To Busan 2” slated for production in 2019, the group said it has received encouraging responses from several promoters in the region, who are looking to bring the TTB VR tour set to other cities.
In addition, the TTB VR tour set currently showing in Beijing will be extended for a longer period. The group has also signed a Letter of Intent with Bossdom DigiInnovation Co, granting them rights to host TTB VR tour set exclusively in Taiwan, Hong Kong and Macau, with a second TTB VR tour set expected to be delivered by end of 4Q19.
Shares in Vividthree closed 0.1 cent lower at 19 cents.
