Insignia Systems Q2 net sales down 46.6% to $3.3M, net loss $1.1M; $20M News Corp settlement expected

BLOOMIA HOLDINGS, INC.

2022-Q2 EPS reported -$0.57 revenue$9,402,000

Q2 2022 net sales of $3.3M, down 46.6% from $6.1M in Q2 2021 due to non-repeated display programs.
Operating loss of $1.1M; net loss of $1.1M ($0.61 per share) vs. $0.51 loss per share in Q2 2021.
Entered into $20M settlement agreement with News Corp; net proceeds of $11.5-12M expected in Q3 2022.
Cash and restricted cash was $2.4M at June 30; post-settlement balance at July 31 was $14.9M.
Company continues exploring strategic alternatives including M&A; retained Chardan as advisor.

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