INNOVATIV MEDIA GR COM USD0.0001 (OTCMKTS:INMG) Consolidating Before Heading Higher

We have been covering INNOVATIV MEDIA GR COM USD0.0001 (OTCMKTS:INMG), a multi-media content producer, since April 2017. The company has provided outstanding returns since the first article was published.For what reasons?As we mentioned in our piece called "INNOVATIV MEDIA GR COM USD0.0001 (OTCMKTS:INMG) Looks Set To Fly Higher", INMG has a large amount of assets, little liabilities, and no long term debt. This fact is definitively helping, but it's not all.The company has been delivering remarkable news that seem to have excited the market. The acquisition of Night Flight, Inc. and the presence of the company in September at MJAC 2017 are very good examples of such news. The story does not seem to end there, since the market got to know on August 24, 2017 what INMG was planning to do for the conference. This news and the fact that the last quarterly earnings released recently seemed to push up the share price up again. In this article, we will provide more details, but before that please have a look at the recent share price action: 1 Year INMG ChartBusinessINMG's business objective is the development, production, and distribution of digital entertainment and other multimedia contents. The company owns a library of feature films, which is distributed. The following list was obtained from the company materials:

"Night of the Living Dead 3D Nightmares in Red, White and Blue , American Grindhouse Area 51: The Alien Interview film assets The Alien Interview Channel/HPLovecraft.TV Distribution contracts Unproduced projects, Mountains of Madness web series Film Finance Project/Wasteland Saints Films of Fury Gameplay Money for Nothing Night of the Living Dead 3D: Reanimation ModRock audio visual Program Search Engine Project Various other content related assets" Source: Annual Report

It also runs the following shows: "the CannaNet. TV Channel, New Broadway Cinema, The Alien Interview Channel, the HPLovecraft.TV Channel, and the VOD Movie Guide". Finally, the company is said to be a key member of the Film Finance Exchange.Recent Developments and financing numbers reportedOn August 14, 2017, INMG reported that it would Live Stream the Investors Hub International Cannabis Conference MJAC 2017 on the company's CannaNet.TV platform from the JW Marriott Los Angeles LA Live in September. In our opinion, this is a smart move by the company, which will not only be showing how it produces contents, but it will also be an opportunity to advertise itself. Tom Coleman, CEO of Innovative Media, was quoted:

"MJAC 2017 is just the kind of event we want to offer on CannaNet.TV and plan to make as regular features on the channel. We are pleased to be in business with Investors Hub which is the leading retail investor's network in the cannabis sector." Source

Additionally, Michael Hannigan, Head V.P. of US Sales for InvestorsHub.com, Inc., which organizes MJAC 2017, explained as follows:

"We believe MJAC will become the major Cannabis investor conference showcasing the industry's best investment opportunities and the Live Stream will allow us to reach a substantial audience unable to attend in person" Source

Regarding the last quarterly earnings reported, we had access to the company materials, which were released on August 11, 201. The most significant accounts for the period ended on June 30, 2017 were the following:

• Cash: $50,874
• Stock Subscription: $129,350 (agreement with Wilshire Capital Ltd. )
• Stock held in non-affiliated pubco and private co: $225,000
• Unamortized Film and Sports Content Assets: $2,300,000
• Total Assets: $2,746,223
• Total Current Liabilities: $63,526

We were interested in the stock subscription asset, thus we researched the company materials and found, hidden in a note of the annual report, an agreement with Wilshire Capital Ltd. It seems to be a financing institution that agreed to purchase a certain number of shares of common stock of the company for an aggregate subscription price of $300,000. We concluded that it is a stock buyer that may have increased or may be increasing the share price of INMG.Like we said in other pieces, the amount of assets largely exceeds the amount of liabilities, which means that the net asset is positive. For those willing to calculate the net asset per share, let us note that as of August 23, 2017, the amount of total outstanding shares is 256,724,670. Good news? Additionally, the float in the same date is equal to 142,611,602, which helps explain the large amount of volatility of the share price. We needed to note this fact, as some people appreciate markets with large swings going either up or down. This seems to be the case.Regarding the income statement, $60,458 were reported in revenues for this period, which is larger than that of the year 2016; $49,322. The company is not reporting positive net income yet, which is not quite worrying, as INMG is in its initial stage of growth.ConclusionINMG reported finally what is going to be its role in MJAC 2017, which, we believe, excited the market. In our opinion, the Live Stream will be very beneficial for the company as it will help advertise its content production abilities. Furthermore, we continue to see that the company's balance sheet situation seems solid, thus the market does not seem to be worried while pushing up the share price. To sum up, there seems to be a lot to like in INMG.Be sure to check out our coverage on INMG!We will be updating our subscribers as soon as we know more. For the latest updates on INMG, sign up below!Image courtesy of Jacki Montoya via FlickrDisclosure: We have no position in INMG and have not been compensated for this article.