HOUSTON, May 15, 2015 (GLOBE NEWSWIRE) -- NightCulture, Inc. (OTCBB:NGHT) (the "Company") announced operating results for the quarter ending March 31, 2015, including an 8% decrease in revenues to $1,170,084 in Q1 2015 compared to $1,264,685 during the same period in 2014. The Company reported an operating loss of $105,132 in Q1 2015 compared to an operating loss of $197,136 in the Q1 2014 reporting period. The Company reported a net income of $796,454 or $0.01 per share, compared to a net loss of ($897,936) or ($0.02) per share in Q1 2014. The gain in Q1 2015 includes a gain on change in fair value of derivative liability of $955,266 while the net loss for Q1 2014 included a loss on change in fair value of derivative liability of $612,026.
NightCulture produced 62 shows in Q1 2015 up from 48 in Q1 2014, a 29% increase.
About NightCulture Inc.
NightCulture Inc. "Concerts that Change Your Life," is a premier producer of live concerts and events. NightCulture operates in the following markets: Houston, TX, Austin, TX, Dallas, TX, San Antonio, TX. NightCulture was the first Electronic Music company to trade in the public markets. http://www.NightCulture.com
NightCulture Inc. produces two major music festivals. "Something Wicked" Halloween Festival, which drew over 40,000 fans 2014 in Houston, TX. http://www.SomethingWicked.com & "Something Wonderful" Festival in Dallas, TX made its debut in 2015 http://www.SomethingWonderful.com
Stereo Live, LLC, a wholly-owned subsidiary of NightCulture, operates Stereo Live, a 25,000 square foot music and live events venue located on 2 1/2 acres of land at 6400 Richmond Avenue in Houston, Texas. http://www.StereoLiveHouston.com.