Peeks Social Shortens Streamer Payout Times
04 Junho 2020 - 10:01AM
Peeks Social Ltd.
(TSX.V: PEEK) (OTCQB: PKSLF)
(the “Company” or “Peeks”) is pleased to announce that further
improvements have been made to its content providers’ (“Streamers”)
payout wait times.
Peeks derives its revenue from transactions
conducted on its platform. In Q4 2020 the company had reduced
Streamer payout cycles to 7 business days from forty five business
days. This faster payout cycle resulted in a halt to the decline in
traffic and a resumption of utilization of its platform. As of June
3, 2020, Peeks has now further reduced the Streamer payout wait
times to 3 business days. The Company expects that reduced hold
times will continue to positively affect the Company's growth.
Typically, Streamers wait until their payouts are received before
they resume streaming. The reduced wait periods for payouts are
expected to increase the frequency of Streamers streaming on Peeks
and as a result positively impact revenues moving forward. The
improvements to the service will be reflected in the Company's Q1
2021 Financial Statements which will cover the period of March 1,
2020 to May 31, 2021.
"I am extremely happy to see that the recent cash
injections into the company yielded the expected results in not
only halting the decline of sales, but also returning the company
to experience healthy month over month growth once again," states
Mark Itwaru, Chairman and CEO.
Both the Peeks Social and Mii.TV mobile apps are
available for download in the Apple Appstore and Google Play
store. The websites are available online at www.peeks.com and
www.mii.tv respectively.
Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) has reviewed or accepts responsibility for
the adequacy or accuracy of this Release.
For further information, please contact:
Peeks Social Ltd. Mark
Itwaru
Chairman & Chief Executive
Officer
416-815-7000
ir@peeks.com
Forward Looking Statements
This news release contains forward-looking
statements relating to the expected benefits to be received from
the reduced payout times. There can be no assurance that such
statements will prove to be accurate and actual results and future
events could differ materially from those anticipated in such
statements. Important factors that could cause actual results to
differ materially from the Corporation's expectations are risks
detailed from time to time in the filings made by the Corporation
with securities regulations. Forward-looking statements contained
in this news release are expressly qualified by this cautionary
statement. The forward-looking statements contained in this news
release are made as of the date of this news release and the
Corporation will update or revise publicly any of the included
forward-looking statements as expressly required by Canadian
securities law.
Peeks Social (TSXV:PEEK)
Gráfico Histórico do Ativo
De Nov 2024 até Dez 2024
Peeks Social (TSXV:PEEK)
Gráfico Histórico do Ativo
De Dez 2023 até Dez 2024
Notícias em tempo-real sobre Peeks Social Ltd da TSX Venture Exchange bolsa de valores: 0 artigos recentes
Mais Notícias de