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VANCOUVER - Destiny Media Technologies Inc. (TSXV: DSY) (OTCQB: DSNY), known for its Play MPE® digital asset management platform, today announced the appointment of Assel Mendesh as Chief Financial Officer. Mendesh, a seasoned financial expert with over 15 years of leadership experience, joins Destiny Media to steer the company’s financial operations and strategic planning. According to InvestingPro data, the micro-cap company, valued at $5.3 million, maintains impressive gross profit margins of 86% and a strong liquidity position with a current ratio of 4.86.
Mendesh’s career includes a significant tenure at Corza Medical Inc., where she led the integration of acquired entities and improved reporting, driving operational efficiencies and cost-effective growth. Her role at Destiny Media will encompass overseeing financial strategies, budgeting, and financial reporting, which are crucial as the company seeks to expand its market presence and service offerings. The appointment comes as the company faces challenges, with InvestingPro data showing a 41% decline in share price over the past six months, despite revenue growth of 6.3% in the last twelve months.
Fred Vandenberg, President and CEO of Destiny Media, expressed enthusiasm about Mendesh joining the team, citing her experience and forward-thinking approach as aligning with the company’s innovation and success goals. Mendesh herself shared her eagerness to contribute to Destiny Media’s growth and to deliver value to stakeholders. For deeper insights into Destiny Media’s financial health and growth potential, investors can access comprehensive analysis through InvestingPro, which currently identifies the stock as potentially undervalued based on its proprietary Fair Value model.
Destiny Media Technologies provides SaaS solutions to the music industry, addressing distribution and promotion challenges. Its primary service, Play MPE®, is a leading music promotional delivery service, fostering artist and industry professional empowerment with digital age solutions. This appointment marks a strategic move for Destiny Media as it continues to evolve its services in the competitive music industry landscape.
The information for this report is based on a press release statement.
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