Author stories http://www.proactiveinvestors.com Proactiveinvestors Author stories RSS feed en Tue, 20 Feb 2018 02:42:37 -0500 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) Moko stands to command "sharp" premium in potential acquisition: One Equity Research http://www.proactiveinvestors.com/companies/news/67771/moko-stands-to-command-sharp-premium-in-potential-acquisition-one-equity-research-78993.html Moko Social Media (NASDAQ:MOKO), a developer of niche mobile apps, is expected to fetch a sharp premium in a potential acquisition of "one of the best-in-class and undiscovered plays in social media", according to a research note by One Equity Research.

The analysts cited strong user enagement on the company's social platforms and scale across its products, which could attract an acquirer. 

The thesis is based on several high profile recent acquisitions in the sector, including Facebook's $1 billion purchase of Instagram and its $19 billion acquisition of WhatsApp. "In the last few years, Google (NASDAQ: GOOG), Facebook (NASDAQ: FB), Yahoo! (NASDAQ: YHOO), Twitter (NASDAQ: TWTR) et al. have paid anywhere from $20 to $150 for each monthly active user (MAU) when buying a social media company," One Equity said.

Based on this, Moko had roughly 5 million monthly active users (MAU) as of year-end 2014. Using the average of the four sample transactions above, Moko could arguably be worth more than $300 million to an acquirer today, the analysts calculated.

On the Nasdaq, Moko's shares were trading up 14.5 percent on Wednesday, at US$4.58, giving it a market cap of just under $61 million.

"Even if we use a weighted average to offset the outlier in the Microsoft/Yammer transaction, we’re still at $207M, roughly 3.5X the closing price of MOKO on March 31, 2015," One Equity noted, referring to Microsoft's $1.2 billion acquisition of Yammer, which had monthly active users of 8 million upon purchase.

"We can further support this by looking at LinkedIn (NASDAQ:LNKD), whose 93 Million MAUs would imply a cost of $333 per user, or Twitter (NASDAQ:TWTR) whose MAU is valued at $111."

In the report, the analysts said that on average, user engagement on mobile apps is less than 2 minutes, which compares to 5.5 minutes for Moko's REC*IT app for intramural college sports and recreational activity. User retention is also at 98 percent after 30 days.

One Equity's analysts also highlighted Moko's ability to engage and retain demographic groups coveted by advertisers, saying it is on the company to show this feat in scale to attract potential buyers. 

This creates a "meaningful catalyst", One Equity said, when the company reports first quarter results, as well as a potential inflection point this year as it looks to meet its target of 10 million monthly active users.

Moko's goal is to provide customized mobile social media platforms to large organized groups that need to share content and interact with each other on a regular basis. 

Its flagship REC*IT app acts as a de-facto tool where over 11 million students at 850 US colleges and universities can quickly go to check real-time information on their personal sports, recreation, intramural and fitness activities. 

The company also has an app called Blue Nation Review (BNR), a mobile digital community for progressive politics in the U.S., as well as several other applications in its portfolio.

One Equity said that it is not yet privy to how user growth might respond to Moko's marketing efforts underway, citing the example of Blue Nation Review on the heels of the 2016 U.S. elections.

The analysts did, however, assert the attractiveness of Moko's user base, saying the company has created a product based around specific needs of certain communities, which all have a high affinity for sponsor products or services.

The company has also created a barrier to entry for competitors by signing exclusive agreements with content or data providers for its mobile platform. For example, it recently further expanded its reach by partnering with InnoSoft to integrate its REC*IT app within additional college campuses in Canada the U.S. and corporate groups.

Moko's BNR political news site also signed a deal to provide monthly content syndication in which the New York Post will provide BNR content with attribution.

Indeed, the Australia-based company, which is largely institutionally-owned, has investors looking forward to an update on continued user growth near the end of this month, which could be an "early glimpse" at how Moko could ramp sales to the point of profitability in 2016, One Equity said.

"Even if, as an investor, you were to take a sidelined position on the company, the fact of the matter remains that Moko is perhaps the most compelling small, pure-play social media company readily accessible to investors. That in itself could command a premium."

The equities research firm believes that 25 to 30 million monthly active users is the threshold where Moko's product platform would become meaningfully attractive to a larger social media company, and potentially, an acquisition target.

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Wed, 01 Apr 2015 15:14:00 -0400 http://www.proactiveinvestors.com/companies/news/67771/moko-stands-to-command-sharp-premium-in-potential-acquisition-one-equity-research-78993.html
Moko Social Media hires NFL digital strategy expert as its new COO http://www.proactiveinvestors.com/companies/news/67717/moko-social-media-hires-nfl-digital-strategy-expert-as-its-new-coo-78937.html Moko Social Media (NASDAQ:MOKO) (ASX:MKB), a mobile app developer, has appointed Shripal Shah, the former chief strategy officer of the NFL Washington Redskins, as its new chief operating officer. 

Shares of Moko advanced 5 percent to US$4.20 on Wednesday. 

Shripal has more than 16 years of experience in digital strategy, development and execution, and joins after spending seven years as CSO with the Washington Redskins, one of the top NFL teams in the US and the third highest grossing team in the NFL.

Moko said hew played the crucial role of bringing various digital and social media platforms to the Redskins, bolstering the team's brand profile.

“Shripal Shah brings tremendous experience and insight into how American consumers are using online platforms and how we can tailor content for them,” said chief executive officer Ian Rodwell. 

Before working with the NFL, Shripal worked at Catalyst Public Relations, where he developed digital marketing strategies for big brands.

“I’m delighted to be joining MOKO, a company that is clearly at the forefront of the social media landscape,” Shripal said.

“I’m impressed by how each of MOKO’s unique brands are transforming the way different users consume and share specialized content across devices.”

Moko said earlier this year that its portfolio of social media apps drew 5 million monthly active users (MAUs) on the back of greater promotion and the launch of new products, with the aim of reaching 10 million MAUs by year-end.

This figure, as of year-end 2014, is more than triple the 1.5 million MAUs at July 1st.

The company's strategy of targeting specific communities with bespoke social media products is clearly beginning to bear fruit. Moko's goal is to provide customized mobile social media platforms to large organized groups that need to share content and interact with each other on a regular basis. 

During the back half of 2014, the company acheived a number of goals, including the relocation of its operations to the US (its primary market), as well as the roll out of a number of flagship products, such as university recreations app REC*IT and Blue Nation Review (BNR), a mobile digital community for progressive politics in the U.S.

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Wed, 01 Apr 2015 14:34:00 -0400 http://www.proactiveinvestors.com/companies/news/67717/moko-social-media-hires-nfl-digital-strategy-expert-as-its-new-coo-78937.html
M Pharmaceutical buys weight loss tablet technology with various medical applications http://www.proactiveinvestors.com/companies/news/67180/m-pharmaceutical-buys-weight-loss-tablet-technology-with-various-medical-applications-78365.html M Pharmaceutical (CSE:MQ) has agreed to acquire IP associated with temporary controllable pseudobezoars, a technology that was initially developed as a dietary supplement but has several potential medical device applications.

The company will purchase the rights to the technology through the acquisition of RX Global, a private BC-based company, for $3.0 million in shares. It will also issue about 84.6 million replacement warrants with an exercise price of 2.5 cents.

RX holds the exclusive worldwide rights to the technology of controllable temporary pseudobezoars developed by Drs. Martin Mintchev, Michel Fattouche and Orly Yadid-Pecht through a private company EatLittle. 

The technology was initially developed to have ingestible capsules, which, quickly after being swallowed, expand dramatically in the stomach to create controllable temporary pseudobezoars, or foreign, non-nutritional bodies in the stomach that are permeable to fluids and gases. These bodies effectively reduce the allocated space for food and induce the feeling of being satisfied.

The weight loss application of the technology is approved in the European Union under the names EatLittle and EatLittle Extra.

The technology is rather unique, as without major dietary changes, users can non-invasively attain results comparable to bariatric surgery, said M Pharmaceutical. And after a pre-determined amount of time, the foreign bodies that were created fall apart in the stomach into their constituent fibers, which can be easily expelled from the body naturally.

The company said the acquisition should provide it with another strategic family of medical devices to add to its portfolio, diversifying its product mix and reducing risk.

M Pharma also owns the rights to the eMosquito device, which aims to provide comfort and convenience to diabetics. The eMosquito is being developed as a less invasive way for diabetics to take blood samples for glucose level checks, by penetrating the skin to shallower depths, in less sensitive areas of the body. 

The eMosquito is designed to be worn like a patch, with small needles to puncture the skin just deep enough to draw blood without damaging any nerves, causing little or no pain at all. M Pharma is expecting to develop a pilot prototype of the device in the second quarter of this year. 

Under the transaction announced today, which is expected to close by the end of March, M Pharma will issue 125 million common shares at a price of 2.5 cents apiece. Of the total, 33.6 million shares will be subject to a three-year escrow, with 10 percent immediately releasable. The balance will be paid out in six equal installments over the next three years.

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Tue, 17 Mar 2015 14:04:00 -0400 http://www.proactiveinvestors.com/companies/news/67180/m-pharmaceutical-buys-weight-loss-tablet-technology-with-various-medical-applications-78365.html
Global Cobalt starts strategic review to defend shareholder value http://www.proactiveinvestors.com/companies/news/67128/global-cobalt-starts-strategic-review-to-defend-shareholder-value-78306.html Global Cobalt (CVE:GCO) (OTCBB:GLBCF) said it has started a strategic review of its business aimed at protecting value for its shareholders.

The company said the review will encompass an evaluation of its existing properties, business plan and development strategy to consider various alternatives.

These include a settlement regarding its option agreement with Imperial Mining, the addition of other cobalt projects, the separation of the company's assets into two publicly traded companies, or the spin out of a new, independent cobalt-focused business.

An ad hoc committee has been established by the board to oversee the strategic review process, Global Cobalt said.

The company cautioned that there are no guarantees the process will result in a transaction.

It also said that discussions with Imperial Mining are ongoing regarding a settlement with respect to the Karakul project in Russia. Last month, Global Cobalt offered a settlement to Imperial Mining to amend the current option agreement between the two parties, which would give the company a clean balance sheet and continued access to Karakul.

The terms of the deal would include a settlement of the amount outstanding on the exploration expenses owed to Global Cobalt, as an offset for the current outstanding loan amount owed to Imperial Mining. The details of the offer, including consideration, are currently under discussion.

The offer is with respect to Global Cobalt's option deal to acquire a 100 percent interest in the Karakul cobalt property in Russia, with a standstill put in place last November so as to allow time for Imperial to resolve internal title issues. The standstill remains in effect until at least March 31st.

Global Cobalt spent months completing a 45-hole drilling campaign at Karakul, and last summer surprised even management with the strength of the NI 43-101 technical report, after the maiden compliant resource showed larger-than-expected tonnages in both the indicated and inferred categories on the historic project.

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Mon, 16 Mar 2015 14:18:00 -0400 http://www.proactiveinvestors.com/companies/news/67128/global-cobalt-starts-strategic-review-to-defend-shareholder-value-78306.html
ITUS signs 31st J-Channel patent agreement http://www.proactiveinvestors.com/companies/news/67127/itus-signs-31st-j-channel-patent-agreement-78304.html ITUS (OTCQB:ITUS) said it has agreed to a settlement with Woodgrain Millwork and the Windsor Window Company regarding its J-Channel window frame construction technology patent. 

The company, which acquires, enforces and makes money from its patents via lawsuits and settlement agreements, said the deal represents its 31st settlement and/or license agreement for its J-Channel window frame construction patent.

In fiscal 2014, or the 12 months ending October 31, 2014, the company completed 27 license agreements in connections with its J-Channel and key based web conferencing patent portfolios. 

ITUS said the newest agreement resolves a patent infringement lawsuit, which will now be dismissed.

“Despite being hampered by a very crowded Court docket in the Eastern District of Tennessee, we have now entered into 31 J-Channel agreements since we started this assertion campaign back in August of 2013," said president and chief executive officer, Robert Berman. 

"The remaining defendants from our lawsuits are Clayton Homes, the leading manufactured and modular home manufacturer in the U.S., and its supplier Kinro Manufacturing, which is owned by Clayton."

The company said that the Tennessee District Court entered its scheduling order about a month ago, allowing for the remaining lawsuits to proceed. A claims construction hearing is now scheduled for July 14, this year.

ITUS, which currently has 10 patent portfolios in areas such as encrypted cellular communications and key-based web conferencing, generated total revenue of $9.135 million in the three months to January 31, compared to nil in the same period a year earlier.

The gigantic increase was tied to its settlement with AU Optronics in December, which resolved a contract dispute between the two parties stemming from two development and license deals signed back in May 2011. The fight was to do with ITUS's nano field emissions display technology patent, which is now unencumbered and ready for development.

Cash and equivalents at quarter end stood at $7.8 million, up from $3.36 million at the end of October, 2014.

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Mon, 16 Mar 2015 14:06:00 -0400 http://www.proactiveinvestors.com/companies/news/67127/itus-signs-31st-j-channel-patent-agreement-78304.html
ITUS records over $9mln in revenues in fiscal first quarter http://www.proactiveinvestors.com/companies/news/66968/itus-records-over-9mln-in-revenues-in-fiscal-first-quarter-78125.html ITUS (OTCQB:ITUS) posted a gigantic increase in revenues for the three months to January 31st, according to the patent enforcer's SEC filing late Monday.

It generated total revenue of $9.135 million in the quarter, up from nil in the year ago period as $9.0 million was tied to its settlement with AU Optronics in December.

The settlement resolved a contract dispute between the two parties stemming from two development and license agreements signed back in May 2011. ITUS terminated these arrangements  in January 2013, citing "numerous alleged material and continual breaches" by AU Optronics. ITUS then filed a lawsuit claiming breach of contract and other charges against AU, and a trial, which has since been dismissed, began on November 10, 2014.

As a result of the settlement, the company said its Nano Field Emissions Display technology is now "unencumbered and ready for continued development."

The company also swung to a net profit of $3.75 million, or 2 cents per share, compared to a net loss of $3.8 million, or 2 cents a share in the year earlier period.

ITUS, which acquires, enforces and makes money from patents, currently has 10 patent portfolios in areas such as encrypted cellular communications, key-based web conferencing encryption and other fields.

In November, the company inked its 30th settlement and/or license agreement for its J-Channel window frame construction technology patent. In fiscal 2014, or the 12 months ending October 31, 2014, the company completed 27 license agreements in connections with its J-Channel and key based web conferencing patent portfolios. 

In the three months to January 31, ITUS recorded revenue from patent assertions of $135,000. 

Cash and equivalents at quarter end stood at $7.8 million, up from $3.36 million at the end of Octber, 2014.

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Tue, 10 Mar 2015 14:31:00 -0400 http://www.proactiveinvestors.com/companies/news/66968/itus-records-over-9mln-in-revenues-in-fiscal-first-quarter-78125.html
Global Cobalt offers settlement to Imperial Mining regarding Karakul option deal http://www.proactiveinvestors.com/companies/news/66558/global-cobalt-offers-settlement-to-imperial-mining-regarding-karakul-option-deal--77669.html Global Cobalt (CVE:GCO) (OTCBB:GLBCF) has offered a settlement to Imperial Mining to amend the current option agreement between the two parties, which would give the company a clean balance sheet and continued access to the Karakul project in Russia.

The terms of the deal include a settlement of the amount outstanding on the exploration expenses owed to Global Cobalt, as an offset for the current outstanding loan amount owed to Imperial Mining.

Global Cobalt said that details of the offer, including consideration, are currently under discussion.

"We are very pleased with the spirit of cooperation with IMHL on these matters and look forward to continued partnership," said president and chief executive officer of Global Cobalt, Erin Chutter.

Earlier this month, Global Cobalt granted an extension to the standstill agreement with Imperial Mining (IMHL) announced last November. The agreement was with respect to Global Cobalt's option deal to acquire a 100 percent interest in the Karakul cobalt property in Russia, with the standstill put in place so as to allow time for Imperial to resolve internal title issues.

The standstill remains in effect until at least March 31st in order for IMHL to engage in settlement negotiations for Karakul's title.

As per the terms of the option deal signed in 2013, Global Cobalt is required to make staged exploration payments of at least US$15 million on the properties by December 30 this year, in order to earn its initial 74.9 percent interest. 

The company said the settlement offer will remain in place until February 28.

Global Cobalt spent months completing a 45-hole drilling campaign at Karakul, and last summer surprised even management with the strength of the NI 43-101 technical report, after the maiden compliant resource showed larger-than-expected tonnages in both the indicated and inferred categories on the historic project.

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Wed, 25 Feb 2015 15:26:00 -0500 http://www.proactiveinvestors.com/companies/news/66558/global-cobalt-offers-settlement-to-imperial-mining-regarding-karakul-option-deal--77669.html
M Pharmaceutical closes eMosquito deal, opening up path for commercialization http://www.proactiveinvestors.com/companies/news/66384/m-pharmaceutical-closes-emosquito-deal-opening-up-path-for-commercialization-77480.html M Pharmaceutical (CSE:MQ) said it has closed its purchase for the rights to the eMosquito device, paving the way for the commercialization of the product which aims to provide comfort and convenience to diabetics.

The deal, which was initially announced in December, involves the purchase of private company M Diagnostics for US$150,000 and at closing and 8.066 million common shares, which are subject to a three year escrow. 

The company also agreed to pay a three percent royalty on the commercial sale of any related products.

The eMosquito will be developed as a less invasive way for diabetics to take blood samples for glucose level checks, by penetrating the skin to shallower depths, in less sensitive areas of the body. Currently, diabetics prick their fingers to monitor their blood glucose levels, which can be painful. The eMosquito, however, is designed to be worn like a patch, with small needles to puncture the skin just deep enough to draw blood without damaging any nerves, causing little or no pain at all.

M Pharma is expecting to develop a pilot prototype of the device in the second quarter of this year, as well as prepare a medical device registration strategy by the third quarter. It will proceed to test the prototype in a lab later this year, moving on to animal testing in the final quarter of 2015.

The idea is to have a cuff-based device that automatically draws whole blood samples and monitors blood sugar levels on a regular basis. The medical product is composed of at least six single-use needles that "bite" sequentially at pre-programmed levels.

A commercial strip-based sensor associated with each needle will then measure glucose levels, with the data to be sent wirelessly to a remote device such as a smartphone. The patient need only replace the needles and the strips once every day.

News of the licensing deal in December followed the company's decision in June to sell its rights to an oil and gas prospective reconnassiance contract on the Beni Znassen block in Morocco. M Pharmaceutical changed its business focus shortly after the sale, with the company formerly known as First Sahara Energy. 

It said Thursday that it has also agreed to sell its remaining oil and gas and mining assets to an arms-length private company for $250,000 in shares. The latest sale is part of its efforts to add to its portfolio in the medical device sector so as to diversify its product mix and reduce risk.

The International Diabetes Federation (IDF) expects the number of people living with diabetes to rise from 387 million in 2014 to 592 million by 2035, which will dramatically increase global demand for treatment and control of the disease.

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Thu, 19 Feb 2015 14:46:00 -0500 http://www.proactiveinvestors.com/companies/news/66384/m-pharmaceutical-closes-emosquito-deal-opening-up-path-for-commercialization-77480.html
M Pharma outlines development goals for eMosquito device; closes $1 mln financing http://www.proactiveinvestors.com/companies/news/66216/m-pharma-outlines-development-goals-for-emosquito-device-closes-1-mln-financing-77293.html M Pharmaceutical (CSE:MQ) said it has closed the final tranche of its private placement financing, for a total of $1.08 million in proceeds. The news came as the company outlined its 2015 goals in developing its eMosquito blood glucose monitoring device for diabetics.

"We believe that 2015 will be a year of significant progress for M Pharmaceutical and our shareholders," said director George Tsafalas. 

"Our strategy is working toward achieving both our near-term milestones as well as laying the ground work for long-term growth of both our promising technology and our company."

M Pharma in December signed an arms-length agreement to acquire and commercialize the rights to the eMosquito. The device is being developed as a less invasive way for diabetics to take blood samples for glucose level checks, by penetrating the skin to shallower depths, in less sensitive areas of the body. 

Currently, diabetics prick their fingers to monitor their blood glucose levels, which can be painful. The eMosquito, however, is designed to be worn like a patch, with small needles to puncture the skin just deep enough to draw blood without damaging any nerves, causing little or no pain at all. 

M Pharma said Friday that it expects to develop a pilot prototype of the device in the second quarter of this year, as well as prepare a medical device registration strategy by the third quarter. It will proceed to test the prototype in a lab later this year, moving on to animal testing in the final quarter of 2015.

The idea behind the technology is to have a cuff-based device that automatically draws whole blood samples and monitors blood sugar levels on a regular basis. The medical product is composed of at least six single-use needles that "bite" sequentially at pre-programmed levels.

A commercial strip-based sensor associated with each needle will then measure glucose levels, with the data to be sent wirelessly to a remote device such as a smartphone. The patient need only replace the needles and the strips once every day.

The company said the new funds from its financing will be used for working capital, including expenses for the acquisition of rights to the eMosquito and other testing and development costs.          

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Fri, 13 Feb 2015 15:43:00 -0500 http://www.proactiveinvestors.com/companies/news/66216/m-pharma-outlines-development-goals-for-emosquito-device-closes-1-mln-financing-77293.html
M Pharmaceutical wraps up oversubscribed financing for nearly $0.9 mln http://www.proactiveinvestors.com/companies/news/66007/m-pharmaceutical-wraps-up-oversubscribed-financing-for-nearly-09-mln-77056.html M Pharmaceutical (CSE:MQ) surged 25 percent after the company said it closed an oversubscribed private placement financing, raising a total of $875,000 in new funds.

It issued 43.75 million units at a price of 2 cents apiece. Each unit is made up of one common share and one share purchase warrant. Every warrant can be used to buy an additional common share at a price of 5 cents, for a period of one year after closing.

The company said the proceeds would be used for expenses tied to the acquisition of the rights to the eMosquito blood sugar monitoring device, and other testing and development costs. 

M Pharma in December signed an arms-length agreement to acquire and commercialize the rights to the eMosquito. The device is being developed as a less invasive way for diabetics to take blood samples for glucose level checks, by penetrating the skin to shallower depths, in less sensitive areas of the body. 

Currently, diabetics prick their fingers to monitor their blood glucose levels, which can be painful. The eMosquito, however, is designed to be worn like a patch, with small needles to puncture the skin just deep enough to draw blood without damaging any nerves, causing little or no pain at all. 

The idea behind the technology is to have a cuff-based device that automatically draws whole blood samples and monitors blood sugar levels on a regular basis. The medical product is composed of at least six single-use needles that "bite" sequentially at pre-programmed levels.

A commercial strip-based sensor associated with each needle will then measure glucose levels, with the data to be sent wirelessly to a remote device such as a smartphone. The patient need only replace the needles and the strips once every day.

News of the licensing deal followed the company's decision in June to sell its rights to an oil and gas prospective reconnassiance contract on the Beni Znassen block in Morocco to Maxim ResourcesM Pharmaceutical changed its business focus shortly after the sale, with the company formerly known as First Sahara Energy. 

Shares of M Pharamceutical made its debut on the Canadian Securities Exchange under its new name and ticker symbol in late January, and is currently trading at C$0.025. 

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Fri, 06 Feb 2015 15:44:00 -0500 http://www.proactiveinvestors.com/companies/news/66007/m-pharmaceutical-wraps-up-oversubscribed-financing-for-nearly-09-mln-77056.html