engage:BDR pays more than 50% of outstanding balance of ZCS facility in cash

engage:BDR Ltd (ASX:EN1) has paid more than 50% of the outstanding balance of the ZCS Facility convertible notes financing facility balance in cash with just US$144,000 remaining. The company recently negotiated a cash buyout with the note holder, Alto, and yesterday paid $345,000 in cash, including a 3% premium. Total net balance now sits at US$144,000 and negotiations continue for the pay-off of the remainder. EN1 plans to terminate the facility once the balance is nil. Monthly revenue increases 20% This move comes after the company increased monthly revenue by $230,000 or 20% to $1.43 million for September. Ad auction participation bid prices and creative volume all increased during September 2020. Analysis of granular metrics shows EN1 clients participated in many more auctions (bid-response), responded with significantly more competitive and higher bid prices (eCPM) and submitted exponentially higher volumes of campaigns for approvals in September. The last metric – number of campaigns - is a strong indicator that brands (multiple) are spending more and launching new campaigns. These metrics enable management to have a clearer picture of how subsequent months will perform. EN1 is excited to enter the fourth quarter, which is traditionally the strongest performing quarter for advertising companies every year.