BRIEF-Rainmaker Entertainment to incur $10 mln charge in Q1 2016

Thu May 5, 2016 6:31pm EDT
 
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May 5 (Reuters) - Rainmaker Entertainment Inc:

* Rainmaker Entertainment provides financial update with respect to ratchet & clank domestic release

* Will take an impairment charge in Q1 2016 with respect to its investment in Ratchet Productions, LLC

* Impairment charge, proportional share of advertising expenses will result in estimated $10.0 million charge to net income in Q1

* As at Dec 31, 2015 co's interest in Ratchet Productions, LLC had carrying amount of $9.4 million, other receivables of $0.6 million Source text for Eikon: Further company coverage: