The Supreme Court of the State of New York ruled in favor of John Textor, the former CEO of Digital Domain Media Group (DDMG). The Judge found there was no evidence of fraud or misrepresentation in the financial reports of DDMG. The lawsuit was dismissed and the plaintiffs were ordered to reimburse fees and court costs associated with the court case, according to PR Web News. Textor is presently the Executive-Chairman of Pulse Evolution Corporation, a maker of realistic digital humans for holographic live performances, augmented reality, virtual reality, and artificial intelligence. He is thrilled about the Court’s ruling and pleased with his endeavors at Pulse Evolution Corporation.
IMDB told that the lawsuit didn’t interfere with John’s endeavors for Pulse Evolution Corporation. According to a PR Newswire Press Release on August 24, 2015, Textor said he was pleased with the business and technology outcome of its early development stages. The Corporation reported its 2nd quarter results for the end of December 31st, 2014. Pulse reported total operating expenses during the three months at the end of the year were $3.5 million and $7 million during the 6 months.
Pulse Evolution also announced its plan to file the company’s 2015 financial statements and an S-1 registration statement with an underwritten public offering and a list to the national stock exchange, according to the press release. The Executive Chairman commented on the company’s decision to enter the national stock exchange saying, “the company’s leading role in the uses of digital humans, combined with significant interest from financial and strategic partners, suggest strongly that the company should move to fully reporting status and be recognized on a national exchange.” Thanks to investments from strategic investors, the company was placed in a position to be the leading inventor of new types of entertainment and an inventor in the developing industries of simulated reality and simulated intelligence. During the 4th quarter of 2014 through August 20, 2015 the company recognized a $5 million profit from the sales of stocks, which was sold to two partnerships.
Now that the lawsuit is behind John Textor, he completely concentrates on the mission of Pulse Evolution Corporation and is pleased with progression of the development stage. PRWeb News announced the Supreme Court ruling on February 20, 2015. Now, Textor is working with Pulse to develop computer digital humans for entertainment and media applications for holo-graphic live performances, computer-generated reality, and simulated intelligence.