From The Chairman

Adslot has today updated the market on the impact of COVID-19 on its business operations.  The Company has also announced a number of cost reduction measures to preserve operating cash runway.

Adslot announced the appointment of former Hitwise global sales executive and CEO, Chris Maher, as the President of the Company's US operations. Maher served as global president of Hitwise and was a key member of the executive team that led a $260M sale to Experian.

Adslot has successfully closed a $6.4M share placement to new and existing institutional investors. The Company experienced strong demand from both new and existing institutional investors, as well as strong demand from existing shareholders and directors of the Company.

Adslot executed another important data partnership agreement with Oracle Data Cloud. Oracle Data Cloud is one of the largest and most trusted DMPs in the US market, and this partnership is a significant step forward in expanding Adslot's data integration and audience targeting capabilities for US advertisers. 

Adslot announced this morning the signing of its second Master Service Agreement ("MSA") with another of the world's largest media agency holding companies: Havas Media Group.

Adslot has released its September 2019 Quarterly Trading Update which included highlights such as a 77% increase (QoQ) in the value of media traded on Adslot media and a 55% increase (QoQ) in the volume of trades.

The Financial Times recently sat for an interview with AdExchanger on the value they're seeing from using the Adslot Media platform. In it, the global head of programmatic, Jessica Barrett, states that they want to run 30% of their campaigns through the Adslot platform by the end of 2020.

FY19 saw a major turnaround in financial results following the Company reset in late February 2018. Following a full financial year of disciplined execution, the Company successfully delivered strong revenue growth while simultaneously reducing costs, resulting in vastly improved EBITDA and NPAT.

The Global Head of Programmatic at the Financial Times (FT), Jessica Barrett, has spoken glowingly about her experience with Adslot on the highly-regarded industry Podcast, ExchangeWire, noting "This has been going really successfully, not just for the additional revenue, but it's the first product I've ever worked on in 10 years of ad operations where everybody is happy."

MarTech News, an Industry-leading news site, published an article about an Adslot case study wherein Adslot delivered impressive results for a client who was testing against PMP campaigns.

Adslot recently signed with the three major publishers: Bloomberg, Financial Times, and, DMG Media (Daily Mail, This Is Money). These significantly enhance and expand Adslot’s available inventory offering to advertisers, which in turn is expected to drive activity and bookings on the platform in future quarters.

I'm pleased to announce that the Company has completed a $4.0M placement to sophisticated and institutional investors today, which will allow the Company to continue its investment in Adslot Media in the US market, where we are making strong progress now.