Minds + Machines Get $3.5 Million For Withdrawing Its Applications For .Data & .Art

Minds + Machines got $3.5 Million for withdrawing its applications for .Data & .Art and they report that there is strong interest for their multiple super-premium names in the past couple of months.

Minds + Machines Group Limited (LSE:MMX), announced that its unaudited results for the six months ended 30 June 2015 will be published on Tuesday 22 September. An analysts’ briefing will be held by management at 10.00am on the day at the offices of the Company’s broker, N+1 Singer, in London.

Antony Van Couvering, CEO of Minds + Machines Group Limited, commented:

“Our focus on cost reduction and cost-efficient selling strategies for our portfolio of standard, premium and super-premium names is now showing a positive result on the Company’s operating performance. These strategies, when combined with our forthcoming launches and on-going drive to improve operational efficiencies, make the Board confident that our operating results should show a significantly improved H2 performance when compared to H1 of the current year as well as H2 2014.”

Auction update

The directors are pleased to announce that the Company has gained, in aggregate, net proceeds of over US$3.5 million (approximately £2.3 million) for withdrawing its applications for .data and .art. The cash to the Group is net of auction fees and includes refunds that the Company will receive from ICANN for withdrawing its applications.

Premium and Super Premium names marketing update

Since 30 June, the Company reports that strong interest has been expressed for multiple super-premium names (those names which typically sell for in excess of $15,000) across its portfolio of non-geo and geo top-level domains as a result of the Company’s direct sales activity. The Company expects the direct sales effort to make significant contributions to revenues in the second half of the year. Separately, approximately 10% of the 30,000 names initially identified for registration through the Company’s Emerald Names strategy announced on 30 July 2015 have now been registered through this special purpose vehicle. As a result, those names already registered through Emerald Names are now clearly visible for purchase, both to the registrar channel and to consumers directly searching for names, via the Internet’s leading domain name marketplace companies.

Standard names marketing update

The Directors are also pleased to report that 18 of the world’s leading registrars, including GoDaddy, 1&1 and Directi, are now supporting the Company’s price-driven strategy for promoting the sale of standard names within its non-geo portfolio through the registrar channel. The first promotions under this program went live in the week commencing 17 August, with other major registrars poised to participate.

Forthcoming launches – .law and .miami

Following a significant media campaign in the legal industry and business press, .law has received a high level of interest both from lawyers wishing to buy .law domains when the names go on sale from 12 October 2015, and from affiliates looking to sell .law domains to the legal industry both in the US and Europe.

Separately, leading marketing agencies have been appointed in Miami to support the roll-out of .miami to consumer and business audiences. The initial response to the company’s premium sales efforts to identify and secure anchor tenants for .miami has been positive.

Geographic gTLDs

The Directors are also able to report healthy support for its first .london auction of premium domain addresses with 20 addresses successfully sold.

Analysts who wish to attend the analysts’ briefing should contact Toby Hall (tobyh@gth.co.uk) to register.