Minds + Machines Share Discussion Threads

[sarkasm] 06/5/2017 14:16

-- Intangible assets of $45.6million based on their book value; and

-- Ongoing operations Earning per Share, on Operating EBITDA (before restructuring costs), of 0.49 cents.

Operating Highlights

-- Company successfully transitioned into a pure-play registry on-time and on-budget:

o Registrar operations shut down and customers migrated to a registrar partner;

o Registry technical back-end outsourced to industry leading registry service partner;

-- Cumbersome historic partner contract successfully renegotiated onto terms that can now potentially deliver future economic value;

-- Office opened in Xiamen, China and US offices centralised into single location in Seattle;

-- Company headcount reduced from 43 to 20 and staffing comprehensively restructured with only nine of the original team kept;

-- Board reduced from seven to four; and

-- Issued share capital reduced from 767,104,685 (2015) to 699,857,562 (2016), with warrants, options, and RSU's reduced from 73,141,493 (2015) to 42,809,590 (2016).

Post Period Highlights

-- Business development teams strengthened;
-- 40%+ registration growth year-to-date when confirmed sales taken into account:

o US and European registrations up 37% to circa 350,000;

o China registrations up 44% to over 817,000;

-- Launch of .boston scheduled for release in September 2017;

-- Submissions to MIIT, China's regulatory body for the Internet, being progressed on up to a further eight of MMX's wholly owned TLDs, which (if approved) will allow mmx to further target the China's growing SME; and

-- New gTLD market growth up circa 6% year-to-date at over 29 million domain name registrations (source nTLDStats.com), this following on from last year where net new registrations in new gTLDs outstripped those in .com/.net by nearly seven-fold, and those in country codes by nearly four-fold.

Commenting on the results Toby Hall, CEO of MMX said:

"To understand the key market drivers of the new gTLD industry that saw net new registrations outstrip those in .com and the country codes combined in 2016, it is important to recognize the trends both from within the industry as well as external factors.

"It is therefore central to our strategy that we are positioned to support the three end markets that management sees are looking to benefit from those trends through our registrar partners - namely; new-start SME's that are coming online for the first time, as well as established businesses already online; digital entrepreneurs that are looking to develop significant new markets and applications based around domain address conventions and domain investors who serve both as early pioneers, as well as marketeers, of new extensions.

"We believe much of the business development work and tests we have been conducting over the last 12 months are now providing the backdrop to the growth the portfolio is now enjoying and will, we believe, continue to enjoy."

Commenting on current trading and outlook he added:

"We continue to have significant scope for billings and revenue improvement as the Group's premium and standard name inventory across its world-class portfolio of top-level domains is better monetized.

"In short, the progress we made in 2016 to restructure the business into a pure-play registry and cost efficiently enter new markets has built strong foundations for the current year and beyond. We therefore remain confident of our ability to deliver meaningful value as we continue to grow our domains under management and resulting revenues and transition the Group into a highly predictable annuity based business of scale."

*-ends-*

[sarkasm] 06/5/2017 14:15

(m) Intangible assets

Intangible assets acquired separately

Intangible assets with finite useful lives that are acquired separately are carried at cost less accumulated amortization and accumulated impairment losses. Amortization is recognized on a straight-line basis over their estimated useful lives. The estimated useful life and amortization method are reviewed at the end of each reporting period, with the effect of any changes in estimate being accounted for on a prospective basis. Intangible assets with indefinite useful lives that are acquired separately are carried at cost less accumulated impairment loss.

Internally generated intangible assets -research and development expenditure

Expenditure on research activities is recognized as an expense in the period in which it is incurred.

An internally generated intangible asset arising from the development (or from the development phase of an internal project) is recognized if, and only if all of the following conditions have been demonstrated:

· the technical feasibility of completing the intangible asset so that it will be available for use or sale;

· the intention to complete the intangible asset and use or sell it;

· the ability to use or sell the intangible asset;

· how the intangible asset will generate probable future economic benefits;

· the availability of adequate technical, financial and other resources to complete the development and to use or sell the intangible asset; and

· the ability to measure reliably the expenditure attributable to the intangible asset during its development.

The amount initially recognized for internally generated intangible assets is the sum of the expenditure incurred from the date when the intangible asset first meets the recognition criteria listed above. Where no internally generated intangible asset can be recognized, development expenditure is recognized in profit or loss in the period in which it is incurred.

Subsequent to initial recognition, internally generated intangible assets are reported at cost less accumulated amortization and accumulated impairment losses, on the same basis as intangible assets that are acquired separately.

Useful live and amortisation

Amortization is recognized so as to write off the cost of assets less their residual values over their useful lives, using the straight-line method, on the following basis.

· Generic Top Level Domains - indefinite life (not amortized)

· Contractual based intangible assets - indefinite life (not amortized)

· Software and development costs - over 3 or over its useful life (as below)

Software and development costs are amortized over their useful economic life. The amortization period and the amortization method for an intangible asset with a finite useful life are reviewed when circumstances indicate a change to its useful life. Changes in the expected useful life are accounted for by charging the amortization period and treated as a change in accounting estimate. As a consequence, certain software and development costs are amortized over eight months (previously over 3 years).

(n) De-recognition of intangible assets

An intangible asset is de-recognized on disposal, or when no future economic benefits are expected from use or disposal. Gains and losses arising from de-recognition of an intangible asset, measured as the difference between the net disposal proceeds and the carrying amount of the asset, are recognized in profit or loss when the asset is de-recognized.

[sarkasm] 06/5/2017 13:54

not many nformative posts

mainly derampers with a sprinkle of rampers

give it a rest you guys until the next RNS, real news or September

waldron
3 May '17 - 18:56 - 175 of 190 0 0
REAL AND SUBSTANTIAL NEWS EXPECTED IN SEPTEMBER AND THEN IN 2018

IN THE MEANTIME EXPECT THE SHARE TO MOVE IN A 8.50 TO 12.50 BOX
hotaimstocks
3 May '17 - 21:50 - 176 of 190 0 0
.
hotaimstocks
4 May '17 - 16:12 - 177 of 190 0 0
.
hotaimstocks
4 May '17 - 21:58 - 178 of 190 0 0
.
hotaimstocks
4 May '17 - 22:10 - 179 of 190 0 0
.
jackson83
5 May '17 - 12:43 - 180 of 190 0 0
.
hotaimstocks
5 May '17 - 12:49 - 181 of 190 0 0
.
hotaimstocks
5 May '17 - 12:56 - 182 of 190 0 0
.
hotaimstocks
5 May '17 - 13:45 - 183 of 190 0 0
.
transhoneyqueens
5 May '17 - 15:42 - 184 of 190 0 0
.
hotaimstocks
5 May '17 - 15:57 - 185 of 190 0 0
.
jackson83
5 May '17 - 16:11 - 186 of 190 0 0
.
waldron
5 May '17 - 17:50 - 187 of 190 0 0
HOW OFTEN ARE INTANGIBLE ASSETS REVALUED AND OR HOW LONG
WILL IT TAKE TO WRITE THEM DOWN

[waldron] 05/5/2017 17:52

HOW OFTEN ARE INTANGIBLE ASSETS REVALUED AND OR HOW LONG
WILL IT TAKE TO WRITE THEM DOWN

[waldron] 05/5/2017 17:50

HOW OFTEN ARE INTANGIBLE ASSETS REVALUED AND OR HOW LONG
WILL IT TAKE TO WRITE THEM DOWN

[waldron] 03/5/2017 18:56

REAL AND SUBSTANTIAL NEWS EXPECTED IN SEPTEMBER AND THEN IN 2018

IN THE MEANTIME EXPECT THE SHARE TO MOVE IN A 8.50 TO 12.50 BOX