Frankly Inc. reported earnings results for the first quarter ended March 31, 2018. For the quarter, the company's revenue decreased 9% to $5.8 million from $6.4 million in the first quarter of 2017. The year over year decrease was primarily due to decreases in local advertising fees as well as professional services fees due to less ad hoc professional services engagements in the 2018 period. Net loss totaled $3.8 million compared to 1.5 million in the first quarter of 2017. The year over year increase in net loss was primarily due to a $597,000 decrease in revenue discussed above, a $583,000 increase in general and administrative expense due to a bad debt reserve in the amount of $688,000 relating to one advertising customer, a $588,000 increase in retention expense relating to employee retention plan which was rolled out in connection with the strategic investor search in the fourt quarter of 2017 and a $461,000 increase in restructuring expense related to a company-wide reduction-in-force. Adjusted LBITDA loss was $756,000 compared to adjusted EBITDA of $428,000 in the first quarter of 2017. The year over year decrease in adjusted EBITDA was primarily due to an increase in net loss of $2.3 million explained above, partially offset by add-backs to net income for the $588,000 increase in retention expense and $461,000 increase in restructuring expense explained above.