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TIX CORPORATION REPORTS FULL YEAR 2019 RESULTS

Written by Customer Service on . Posted in Public Companies.

STUDIO CITY, CA, March 19, 2020 (GLOBE NEWSWIRE) — Tix Corporation (the “Company”) (OTCQX: TIXC), a leading provider of discount ticketing services, today reported results for the full year ended December 31, 2019.Full Year 2019 Summary Results:The Company’s revenues decreased to $12.7 million, or 2%, as compared to $13.0 million in 2018.  Operating loss was $1.1 million, as compared to $4.4 million in 2018.  The Company’s operating loss was impacted by the decrease in revenues, an increase in legal and professional fees primarily related to governance matters of $741,000, offset by approximately $1.1 million in cost reductions, as compared to 2018.  In 2018, our operating loss included an impairment of goodwill charge of $3.1 million, which did not occur in 2019.Due to the Company’s recent operating losses, and the current disruption to the Company caused by efforts to mitigate the impact of the COVID-19 virus in Las Vegas, as announced earlier this week, the Company’s auditors issued a going concern opinion which is included in the Company’s  2019 annual report. About Tix CorporationTix Corporation (OTCQX:TIXC) provides discount ticketing services. It currently operates nine discount ticket stores in Las Vegas under its Tix4Tonight marquee and its online ticket sales site, www.tix4tonight.com, which offer up to a 50 percent discount for shows, concerts, attractions, and tours, as well as discount dining and shopping offers. Safe Harbor StatementExcept for the historical information contained herein, certain matters discussed in this press release are forward-looking statements that involve risks and uncertainties. Forward-looking statements include, but are not limited to, statements about our future revenues and financial position. These forward-looking statements are based on expectations and assumptions as of the date of this press release and are subject to numerous risks and uncertainties which could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties are discussed in the Company’s filings with the OTC Markets. The Company assumes no obligation to update these forward-looking statements. A copy of the Company’s reports for the twelve months ended December 31, 2019, can be found on the Company website at www.tixcorp.com or www.otcmarkets.com.Investor Contacts:     Steve Handy, CFO, (818)761-1002

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