OnlineDomain, a leading domain name investment blog today published an article entitled “Minds + Machines Report: Billings Increase 300% Helped By The .VIP Launch In China”.
In the article, the blog’s editor in chief Konstantinos Zournas wrote, “Minds + Machines (MMX) announced today the Group’s unaudited interim results for the six month period ended 30 June 2016. H1 2016 billings increased over 300% to US$8.05 million (H1 2015: US$2.0 million) significantly helped by the successful launch of .vip into China in May.”
Mr Zournas has extensively quoted MMX CEO Toby Hall, “The first half of the year has been transformational for MMX with the Company achieving its stated goals of transitioning into a lean pure-play registry business, able to operate incisively across three time-zones and, more importantly, crossing-over into operating profitability for its ongoing operations, a transition which is ahead of management’s expectations. As underlined by our H1 success in China, both the industry as a whole and MMX itself have reached an inflexion point where the historic excitement surrounding new gTLDs is now beginning to be reflected by tangible results and meaningful progress. China and the Far East are leading the way and MMX has demonstrated it can and will continue to play a meaningful role in this region and the gTLD market as a whole.
“Given the continued strength of our cash balances and the strong performance of our ongoing operations in H1, the Board is therefore delighted to also announce today a tender offer for 100,000,000 ordinary share at 13 pence as well as the private subscription for 42,307,692 Ordinary shares at 13 pence by Goldstream Capital Master Fund I, advised by Goldstream Capital Management Limited, a private fund incorporated in the Cayman islands which is wholly owned by Hony Capital, a leading Chinese equity investment company. The Company is confident that Goldstream and Hony will be able to greatly assist MMX’s long term plans in China and the wider Asia region.
“The executive management team is optimistic for the outcome of the year as a whole as we continue to stream-line operations, outsourcing where possible and investing in sales and marketing as appropriate. We remain excited about the medium and long term prospects for 2017 and beyond across our three markets of focus: Asia, Europe and the US.“
Read the full article at OnlineDomain.com.