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TheDomains.com

Minds + Machines Pockets Another $4.4 Million & Has $45 Million In Cash

December 3, 2014 by Michael Berkens

Minds + Machines Group Limited (AIM:MMX), announce that “following the recent series of private auctions, the Company will receive in aggregate $4.4 million (approximately £2.8 million) for withdrawing its applications on .latino, .school and a third domain application that at present cannot be named due to the rules governing the private auction process.

The cash to the Group is net of auction fees and includes refunds that the Company will receive from ICANN for withdrawing its applications.

Cash and cash equivalents within the Group following the latest private auctions now stand at approximately $45 million (approximately £29 million).”

However investors did not like the new sending shares of Minds + Machines down over 4% to a 52 week low of 8.375P

Minds + Machines also announced new pioneers for its already-released top-level domains including Quiksilver, the world’s largest manufacturer of surf apparel company, for .Surf; the renowned Academy of Country Music for .Country; the successful craft brewery, New Belgium Brewing, for .Beer; and Parelli Natural Horsemanship for .Horse.

The Company is also pleased to report that it will shortly be releasing two-character domain names for sale, which were previously blocked by ICANN.

Filed Under: Minds+Machines, New gTLD's

About Michael Berkens

Michael Berkens, Esq. is the founder and Editor-in-Chief of TheDomains.com. Michael is also the co-founder of Worldwide Media Inc. which sold around 70K domain to Godaddy.com in December 2015 and now owns around 8K domain names . Michael was also one of the 5 Judges selected for the the Verisign 30th Anniversary .Com contest.

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