May 26, 2020   SOURCE: PR NewsWire

ATN Reports its First Quarter for the Three Months Ended March 31, 2020

TORONTO, May 26, 2020 /CNW/ - Asian Television Network International Limited (ATN) Toronto Stock Exchange Venture (TSXV-SAT) Canada's Pioneer South Asian Broadcaster announce its first quarter 2020 consolidated financial and operating results for the three months ended March 31, 2020, in accordance with International Financial Reporting Standards ("IFRS").

Summarized Consolidated Financial Results

Three months ended March 31, 2020 and March 31, 2019.

                                  Three months ended March 31,


                       2020                                    2019


        Operating
        revenue             $
        
              2,445,137               $
        3,214,943




        Total
        operating
        expenses  3,122,684                               3,804,484

    ---

        Loss
        before
        tax       (677,547)                              (589,541)


        Income
        tax
        recovery                                         (166,430)

    ---

        Net
        loss
        for
        the
        year                $
        
              (677,547)              $
        (423,111)

    ---

        Basic
        and
        Diluted
        Loss
        per
        share                  $
        
              (0.03)                 $
        (0.02)

Declining revenues are predominantly as a result of increased internet piracy, consumers shifting towards illegal digital IPTV set-top boxes and declining advertising revenues. While the Company is actively involved in fighting this negative trend, the court issued the first Canadian site blocking order against sites that predominantly facilitate copyright infringement. This marks a significant step in the right direction towards Canada's fight against piracy.

For details please refer to the MD&A and the Complete Financial Statements filed with SEDAR.

We are a Canadian media company. ATN serves Canada's diverse cultural communities with more than 50 premium specialty television channels. We are publicly traded on the Toronto Stock Exchange Venture (TSXV-SAT). For more information please visit www.asiantelevision.com

We seek safe harbor.

SOURCE Asian Television Network International Limited