Minds + Machines Share Discussion Threads

[chimers] 26/9/2018 08:13

Hey...............IDS.

[chimers] 26/9/2018 08:09

Hey guys. during the long cold winter months ahead dont go beating yourselves up about this ok!!
What you have to do is think back to the old days when you were CASH RICH!!

SAMARITANS-116 123

[chimers] 26/9/2018 08:04

This though is the final nail............

"However, a slow-down in high value one-off sales is likely to impact top-line revenues."

[chimers] 26/9/2018 08:02

Oh dear........

Under IFRS 9 there is a requirement to review for the provision of bad debt in the event management believes that there is a possibility of not collecting full amounts due based on facts and circumstances. The Company has never had any bad debts since it began generating operational revenue in 2014. In addition, its long-term debtors have been diligent in fulfilling their obligations to date. Nevertheless, following the extension of payment time-frames on certain contracts, the Company believes that it is prudent to provision $2.1 million against the possibility of bad debt based on fluctuations in market conditions and possible changes in circumstances related to certain existing partners in the US. It should be noted that management continues to work with its partners and underlying counterparties to collect on monies due.

[chimers] 26/9/2018 07:59

My condolences.

[chimers] 26/9/2018 07:57

Current Liabilities have increased from $12.7 million at the end of FY 2017 to $26.7 million at end of H1 2018. During the period, the Company paid down liabilities in the amount of $1.5 million. However, overall liabilities have increased primarily due to the inclusion of deferred revenue from ICM of $9.5 million, the onerous contract provision of $7 million of which $3.1 million is current, and a $3 million working capital facility to support future innovation and acquisition orientated activity by the Company.

[chimers] 26/9/2018 07:56

Doesn't that make them insolvent?
Hey just asking.............

[chimers] 26/9/2018 07:55

AND THE ICING ON THE CAKE.....

CASH = $9.5M

LIABILITIES = $26.7M

Slight shortfall ahead?

[chimers] 26/9/2018 07:53

PROFITS WARNING

However, a slow-down in high value one-off sales is likely to impact top-line revenues.

[waldron] 26/9/2018 07:47

26 September 2018

Strictly embargoed until: 7.00, 26 September 2018

Minds + Machines Group Limited

("mmx" or the "Company")

Unaudited Interim Results for the Six Month Period Ended 30 June 2018

Minds + Machines Group Limited (AIM:MMX), one of the world's leading owners and operators of Internet Top-Level Domains ("TLDs"), today announces the Group's unaudited interim results for the six month period ended 30 June 2018 (the "period").

Highlights

-- Registrations within the MMX portfolio, excluding those from the acquisition of ICM Registry LLC ("ICM"), up 38% year on year to 1.5 million with particularly strong growth in the US;

-- Group revenue increased 22% to $6.4 million (H1 2017: $5.3 million), ICM providing a two week contribution of $250,000;

-- Renewal revenue up 40% to $3.4 million representing 52% of H1 revenues (H1 2017: $2.4 million representing 51%), ICM's renewal revenue contribution being $241,000;

-- Gross Profit increased 14% to $3.3 million (H1 2017: $2.9 million);
-- Operating EBITDA increased 176% to $661,000 (H1 2017: $238,000);

-- Operating expenses ($2.6 million) remained flat (H1 2017: $2.6 million) despite the acquisition of ICM;

-- Cash and cash equivalents decreased from $15.9 million at the end of FY 2017 to $9.5 million at the end of the period, primarily as a result of the $10 million paid to acquire ICM in June 2018;

-- Cash generated from ongoing operations was $0.5 million compared to a cash loss of $0.9 million for the period ending H1 2017;

-- Fixed overheads for the enlarged Group currently running at $6.5 million on the year, which are expected to reduce to below $6 million as economies of scale are achieved;

-- Strategic review completed with the ICM acquisition completed on 16 June 2018 with integration progressing well and according to plan;

-- .vip had a second strong renewal season of above 76% resulting in overall registrations for the region improving 15% from 728,000 to 836,000 year on year;

-- Exclusive relationship developed with Ethereum's Name Service team enabling the launch of TLD .luxe, scheduled to enter General Availability on 6 November 2018; and

-- Total net accounting loss for the period of $14.7 million primarily resulting from accounting treatments and restructuring of legacy contracts ($11.8 million), provisions under new accounting standards ($2.1 million) and one-off costs related to ICM acquisition ($0.7 million).

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

"The period has been a transformative time for the Company. The strong registration and renewal revenue growth in our existing MMX portfolio, complemented by the ICM acquisition, have contributed to significant revenue growth and a stronger business with an increasingly predictable level of recurring revenues, leading management to expect renewal revenues to surpass the Group's full cost base within the next 24 months.

"As highlighted in the Restructuring section, the treatment of certain historic contracts, most notably those inherited by current management, has been addressed enabling a much clearer picture of the Company's ongoing progress to be presented in future periods.

"As part of our strategy to increase market share and awareness of the Company, we are greatly encouraged by the progress of the .luxe initiative and ongoing collaboration with Ethereum's Ethereum Name Service, which is helping to position MMX as a leading innovator within our industry."

Commenting on current trading he added:

"We are currently experiencing healthy new sales activity on our standard and lower value premium names through the registrar channel across the portfolio. Likewise, our renewal revenue continues to build, bolstered by the renewals from the ICM portfolio, which is performing in line with management's expectations. These stable revenue streams, when combined with a series of new initiatives coming into play around those properties launched in China in Q3 (being .law and .gowou) and the forthcoming launch of .luxe, lead management to remain cautiously optimistic about the full year operating EBITDA outcome. However, a slow-down in high value one-off sales is likely to impact top-line revenues."

*-ends-*

[treble in 1999] 26/9/2018 07:28

We know vip slowed it's on the registry website.
those w/o are a surprise. Thankfully they don't affect cash
the money owed should not be an issue, but you never know
cash being generated and new income streams a positive

[hotaimstocks] 26/9/2018 07:00

RNS RNS RNS out folks 🤔 ... No divi & VIP slowed & jam tomorrow lol

[jackson83] 26/9/2018 06:12

Wonder how many of the porno xxx names Toby has managed to shift ? Hopefully $5m worth

[jackson83] 26/9/2018 06:07

Should see the share price up 25/30% on the expected huge profits and news of divi / .luxe .... Expect an excellent RNS within 55 mins now 🙏 9.5/10p on good news or more today

[waterloo01] 25/9/2018 18:35

Should be some interesting numbers to absorb and hopefully a clear signal as to when a divi might start (don't expect one this RNS). Hopefully will add some colour and hopefully a healthy outlook. Expect we'll see the back of the 7p range as the last of the stall bulls exit.

[jamesto2] 25/9/2018 16:53

Results 7am & lets hope we get a 5% dividend or expect a large sell off !!! This has been a terrible share for over 2 years now

[waldron] 25/9/2018 09:34

StockMarketWire.com -
Interim Result


26/09/2018 Minds + Machines Group Ltd (MMX)

[jamesto2] 25/9/2018 06:46

Going put a buy order in at 7p for 100k as Toby has devalued MMX with porn

[grupo guitarlumber] 24/9/2018 10:15

RNS Number : 6311B

Minds + Machines Group Limited

24 September 2018

For immediate release: 24 September 2018

Minds + Machines Group Limited

("MMX" or the "Company")

.luxe update

Minds + Machines Group Limited (AIM: MMX), the top-level domain registry company, is delighted to announce that at the prestigous Alibaba Cloud Computing Conference, held in Hangzhou, China on 21 September, the Company was able to provide an update on the progress of the .luxe top-level domain, due to enter General Availability on 6 November 2018.

Key developments in the roll-out of the programme are:

-- 57 registrar partners from around the world already signed up to support .luxe including the leading registrars in China, Japan and Europe - as well as 16 serving the US market; and

-- MMX in advanced discussions about the support and integration of .luxe domains within the world's leading Ethereum wallet, imToken, with over 6 million active monthly users globally. The .luxe integration into imToken is expected to go live in Q4 2018.

.luxe is the first extension specifically designed to operate both on the world wide web and the Ethereum blockchain - meaning that if myname.luxe is typed into a web-browser it will resolve to the website or web based service associated to it. If the same name is then entered into an Ethereum browser or service myname.luxe will act as the public identifier for whatever product or service that has been securely associated to it, such as an individual's crypto wallet, to facilitate easier consumer-to-business and peer-to-peer transactions.

Toby Hall, CEO of MMX, commented:

"The integration of naming conventions into the blockchain universe where items today are identified through long randomly generated strings represents a small but highly significant step in taking blockchain services mainstream. By placing simplicity and ease-of-use at the heart of our approach, it is possible for our registrar partners to develop simple self-service solutions that can sit not just on their own sites but also within the service offerings of potential distribution partners. The partnership being developed with imToken is a fantastic example of this strategy coming into play."

Ahead of General Availibility there will be a 16-day period from 9-25 October where existing holders of names in the non-ICANN regulated .eth extension can apply for their equivalent names in .luxe. Wallets to be supported by .luxe at launch will represent those used by the majority of Ethereum users. Further information can be found at www.join.luxe.

-ends-