Amino Technologies Share Discussion Threads

[sharw] 10/5/2021 21:02

slim9 - that article was on the start of Chapter 11 at the beginning of March. There is more recent stuff from that source here:



That tells us the bidding starts at 10 a.m. New York time tomorrow - 3 p.m. here so there may be news before close of trading here.

[slim9] 10/5/2021 19:53

Article
hxxps://www.lightreading.com/cablevideo/t-mobile-tosses-mobitv-life-raft/d/d-id/767773

[simon gordon] 10/5/2021 16:37

EI,

This could be the one. T Mobile bailing them out for now shows the tech is wanted. Need to be closer to the scene to understand if it's a game changer. I'm defo spending some time to study the situation. Fincap should do a note if they do the deal. Trade press is a bit skimpy for depth. If they do buy it, it sounds like it will be in a turnaround phase until end of 2021. So, maybe the time to buy is toward the end of the year whilst the market waits for it to be proved up. First sign of traction could be a good buy point.

[essentialinvestor] 10/5/2021 16:07

Simon, I suppose they could hit the jackpot with one
however if you add up what the total paid for acquisitions over the last
few years and then compare with AMO current market cap, it represents
a significant chunk. Obvs Amino may become the target.

[simon gordon] 10/5/2021 14:39

Yes, the last big acquisition in America looks to have been a damp squib.

July 2015:

Placing by way of an accelerated bookbuild to raise £21.0 million

Amino Technologies PLC (LSE: AMO), the Cambridge-based provider of digital entertainment solutions for IPTV, Internet TV and in-home multimedia distribution, announces that it has conditionally agreed to acquire the entire issued share capital of Entone, Inc. ("Entone") for a total consideration of $73.0 million (£46.7 million).

[essentialinvestor] 10/5/2021 14:34

Unfortunately this is a risk with holding AMO.

They appear to have a long history of making acquisitions to reshape their business
or arguably staying relevant.

As Simon mentions this latest potential acquisition could have a range of very
different outcomes.

[1pencil] 10/5/2021 14:04

Have they been working alongside MobiTv, as that was one of their strengths mentioned during recent investor presentations.

I would have thought Kestrel would be onboard.

[simon gordon] 10/5/2021 13:55

Yeah, they could snag an absolute bargain or a money pit.

[1pencil] 10/5/2021 13:52

A lot of emphasis on Amino management being able to turn this around, presumably dividend will go out of the window.

I also have concerns on how the options are pegged to share price, does this have any affect on managements strategic thought process?

[red ninja] 10/5/2021 12:30

Yes, I think the market is spooked by MobiTV losses and debts and presumably the degree of dilution from the placing.

Hopefully AMO have done their analysis well enough so that the downside risks are eclipsed by upside possibilities.

Of course AMO may not secure MobiTV from the auction anyway.

[sharw] 10/5/2021 12:21

Red Ninja - the fall in share price is mainly a sign of just how illiquid AMO can be at times. Until 15 minutes ago there have been just 6 trades - all sells - with a total value of £26,546. As a result the mid price has come down by 3.5p meaning that the MCap has come down by about £2.7m !!!!

Of course, the institutions who have agreed to the placing will not be able to deal at the moment. Some PIs, including myself, may be nervous about not getting in on a discounted placing and thus cheated of pre-emption rights.

The loss of $34m mentioned by simon gordon sounds horrendous but the AMO board have had several weeks to do their calculations of what can be achieved if they take on this company and we just have to trust that they will not overpay.

[simon gordon] 10/5/2021 11:28

SF Times - 2/3/21:

Streaming TV company MobiTV reports net loss of $34M, files for Chapter 11 bankruptcy

Television streaming company MobiTV, based in Emeryville, filed for Chapter 11 bankruptcy reorganization Monday on the heels of huge financial loss for 2020.

In a note to partners, the company said the bankruptcy action "does not mean the company is going out of business," adding that it has secured $15.5 million in financing from T-Mobile to fund operations until it can figure out a way to remain in business and meet its debt obligation, likely by selling off assets.

While the pandemic lockdowns have been a boon for streaming services like Netflix, they were apparently a growth killer for MobiTV, which reported a net operating loss of $34 million for 2020. The company, which was founded 1999 to bring on-demand TV to mobile devices, generated $13.5 million in revenue last year.

"Although the company projected significant and material subscriber and revenue growth for 2020, the Covid-19 pandemic and related stay-at-home orders, materially impaired the company’s growth opportunities," CFO Terri Stevens declared in the bankruptcy filing. "As a result, the company found itself with limited liquidity and at risk of default under its debt agreements."

At the time of the bankruptcy filing, MobiTV owed $75 million and had roughly $19 million in assets.

Under Chapter 11 bankruptcy protection, the company plans to sell off assets and possibly attract a stalking horse bidder, which is when a potential buyer sets a minimum price with an initial bid for the assets, making it so that other bidders can't go any lower.

MobiTV earns its revenue through contracts with subscription television customers, broadband providers and cellular device carriers, which use its technology to build customizable streaming platforms.

In 2019, the company raised $50 million in funding and $21 million in 2017, from repeat investors Ally Bank and Oak Investment Partners.

MobiTV had 86 employees at the time of the filing, which disclosed that received a $3 million PPP loan.

The company expects the bankruptcy restructuring to be completed in several months.

[red ninja] 10/5/2021 11:05

Agreed, it seems to make sense and presumably it is good value given MobiTV is currently in a Chapter 11 bankruptcy. However, share price falling, market unnerved by uncertainty ?

[18bt] 10/5/2021 07:42

It's quite difficult to assess this, other than it looks to make sense strategically and it's large.

[masurenguy] 10/5/2021 07:37

Possible Acquisition

Amino Technologies announces that it has submitted a bid, through a wholly owned subsidiary, to acquire MobiTV, a US live and on-demand TV platform provider (the "Possible Acquisition"). MobiTV is USA based and provides a TV-as-a-Service ("TVaaS") solution that allows operators to fully modernise their PayTV offering to consumers, reduce costs, utilise network bandwidth more efficiently and to enable the future upgrades of new services and features. The MobiTV solution is a white labelled managed service for a full TV platform, including live and on-demand TV content, network PVR functionality and content rights. The Possible Acquisition would immediately establish a TVaaS infrastructure capability in the USA for Amino, which the Board of Amino estimate would require significant investment over a 6-12 month period to develop organically. The Possible Acquisition would also provide an immediate contribution towards Amino's strategic financial goals, in particular its focus on increasing annual recurring revenues. The Possible Acquisition, if completed, would be a Substantial Transaction pursuant to AIM Rule 12.

The Acquisition Process

MobiTV is currently in a Chapter 11 bankruptcy process in the USA, pursuant to which Amino submitted a bid for the trade and assets of MobiTV to the United States Bankruptcy Court for the District of Delaware on 7 May 2021. Whether Amino's bid is successful will be decided by the Court following an auction process to be held on 11 May 2021. Once the Auction has been completed, a hearing before the Court to request approval of all aspects of the sale to the winning bidder is scheduled for 21 May 2021 at 2.00pm EST. The acquisition of the trade and assets of MobiTV must close by 31 May 2021.

Fundraising

The costs and working capital commitments associated with the Possible Acquisition are to be funded by the Company's existing cash resources and available credit facilities, supplemented by a placing of new Ordinary Shares in the Company to institutional and other investors (the "Placing") commitments for which have been made by certain shareholders and other investors, subject to customary conditions including, inter alia, admission of the new Ordinary Shares to trading on AIM. Further details of the Possible Acquisition and the Placing will be announced once the outcome of the Auction is known.

[1pencil] 19/3/2021 10:15

Looking at the Amino share holder page, Investec are listed with 9% perhaps rounded down.

Investec also appear to Ferlim Nominees Limited, see below;

Investec Wealth & Investment

5. How are individual client assets held? IW&I wholly owns four Nominee Companies, Ferlim Nominees Limited,. Rensburg Client Nominees Limited,

[1pencil] 19/3/2021 09:18

I was wondering that myself. Ferlim Nominees Limited seem to have gone from 0% to 9.02% without previous notifications.

Depending on where they are domiciled for reporting purposes they would have crossed either a 3% or 5% threshold which should trigger it's own TR1.

The third TR1 however indicates it was an existing holding that may have been transferred to Ferlim Nominees Limited.

If there's no update on Aminos shareholder section it's most likely the latter.

[red ninja] 19/3/2021 09:14

It says that Karen Bach was holding 9.02% as a proxy from 18/3-19/3.

Presumably we'll get an RNS as to where the 9.02% now resides.

[nhb001] 19/3/2021 09:08

2 TR1s. 9% seems to have appeared and then disappeared. Any idea what it means?

[1pencil] 12/3/2021 13:04

Nice little run that, still no TR1 which is surprising given the limited float.

It would be good to hear about another acquisition to start joining the dots together target wise financially.

[richjp] 09/3/2021 13:49

I made a bit in Amino a few years ago and then sold out, but have kept an eye on it.

I bought in again a few months ago and have added since. I had to pay 169P for a small top up this morning which is more than I would have liked, but I thought what the hell and went ahead anyway. The spread was also surprisingly wide.

I think their story is good and a run up to 200P or so looks feasible although there looks to be some heavy resistance just above that level.

[ninedoors99] 09/3/2021 10:17

Will just run up to £2 now it's broken out....I wonder Let's hope so

[nhb001] 08/3/2021 15:51

Well, someone sure likes this now.

[simon gordon] 07/3/2021 16:53

Some interesting articles on STB's:

Royal Television Society - 2016;

The future of television? Set top boxes

A new wave of innovation in set-top boxes will see power shift from broadcasters to platforms, predicts Nigel Walley

The humble set-top box is poised to become the first of a new generation of domestic media servers at the heart of the next stage of the home entertainment revolution. Many in our industry persist in seeing STBs – originally introduced more than 20 years ago as simple devices for decoding broadcast signals – as a mere “techy” sideshow.

They have, however, emerged as one of the most important device classes in the consumer media landscape and, once again, they are driving disruption and strategic change.

Continued...



-

ISP Review - November 2020:

BT UK Hints at Plan to Launch a New WiFi Equipped TV Box

Broadband ISP BT (EE) appears to have publicly hinted that they are developing their first WiFi equipped set-top-box (STB) for pay TV customers, which seems set to be followed by “multi-room capability” and plans for a “seamless TV” experience – both in and out of the home (i.e. via fixed line and mobile broadband).

It’s been a year since we first reported that BT were quietly developing a new WiFi equipped STB for pay TV customers (here). At that point the operator appeared to be at an advanced stage of development and our sources pointed to a possible launch in early 2020. But the first COVID-19 lockdown put pay to that idea and set development back significantly, with BT instead launching a new range of “Flexible” TV plans without the STB (here).

Continued...



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Video Week - June 2020:

Why Ditching Set-Top Boxes Could Transform CTV in France

French TV operator Bouygues Telecom a few weeks back announced ‘Bbox Smart TV’. The new offering, developed with Samsung, cuts out the set-top box entirely and delivers Bouygues’ IPTV (internet protocol television) service directly into Samsung smart TVs via an app.

Bouygues says the change will be simpler for consumers and provide a better user experience. But the move also has the potential to spur the growth of the French CTV market.

Continued...



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Apple World Today - 16/2/21:

APPLE WANTS A FUTURE APPLE TV SET-TOP BOX TO REPLACE YOUR CABLE BOX

Apple has been granted a patent (number 10,924,793) for a “generic streaming media device configured as a set-top box” that hints at a future iteration of the Apple TV set-top box that could replace your cable box.

In the patent filing, Apple notes that content providers such as cable TV providers use dedicated hardware for set-top boxes and these set-top boxes use a cable card to authenticate the set top box to the cable TV provider. The cable card is dedicated to operate with the cable TV provider and includes cryptographic information which is used in the authentication process to ensure that the cable TV provider is providing content delivery through the set top box in a secure manner that can be controlled by the cable TV provider. Cable TV providers are one example of the type of content providers that can be referred to as multiple channel video programming distributors.

Continued...

[tole] 07/3/2021 07:09

https://www.directorstalkinterviews.com/amino-technologies-analyst-qa-a-very-solid-performance-against-the-backdrop-of-covid-19-lonamo/412965644Q4: What have been other highlights of recent news flow from Amino Technologies?A4: The company announced FY 19/20 results in early February. Against backdrop of COVID-19, in our view it was a very solid performance. Revenue up 7% at the group level, software sales particularly strong – up 49%.Business is transitioning to a software-led business model. 40% of group gross profit now comes from software. One of the benefits of that in the results – 2pp improvement in gross margin at the group level accompanied with double-digit growth in recurring revenue. Another highlight was re-affirmation of dividend policy, the company intends to pay between one third and one half of adjusted EPS as dividends going forward.