Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
I remember when KUTV used to have so much potential...... then all of a sudden the company decided to change it's business model and now look at it..... just another Chinese POS stock that was never worth following in the first place.
NEWS: Ku6 Media Reports Unaudited-Financial-Results for-the Third-Quarter of Fiscal Year 2014
Last update: 06/02/2015 6:18:12 am
Ku6 Media Reports Unaudited Financial Results for the Third Quarter of Fiscal Year 2014
PR Newswire
BEIJING, Feb. 6, 2015
BEIJING, Feb. 6, 2015 /PRNewswire/ -- Ku6 Media Co., Ltd. ("Ku6 Media" or the "Company," NASDAQ: KUTV), a leading internet video company focused on User Generated Content ("UGC") in China, today announced unaudited financial results for the third quarter of fiscal year 2014 ended September 30, 2014.
Third Quarter 2014 Highlights (1) -- Total revenues were US$1.62 million (RMB9.92 million) in the third quarter of 2014, as compared to total revenues of US$0.70 million in the second quarter of 2014 and US$3.40 million in the third quarter of 2013.
-- GAAP net loss was US$0.93million (RMB5.72 million), as compared to a net loss of US$5.34 million in the second quarter of 2014 and US$3.44 million in the third quarter of 2013. Non-GAAP net loss, which the Company defines as net loss excluding expenses (benefits) associated with share-based compensation, was US$0.76 million (RMB4.68 million) in the third quarter of 2014, as compared to non-GAAP net loss of US$5.30million in the second quarter of 2014 and US$3.14 million in the third quarter of 2013.
-- Basic and diluted loss per ADS was US$0.02(RMB0.12) in the third quarter of 2014, as compared to US$0.11 in the second quarter of 2014 and US$0.07 in the third quarter of 2013.
-- Cash and cash equivalents were US$2.77million (RMB17.02 million) as of September 30, 2014.
-- Net cash used in operating activities was US$3.00 million (RMB18.39 million) in the third quarter of 2014, as compared to net cash used in operating activities of US$6.27 million in the second quarter of 2014 and net cash used in operating activities of US$3.86 million in the third quarter of 2013.
(1) The reporting currency of the Company is the United States dollar ("U.S. dollar"), but solely for the convenience of the reader, the amounts of Renminbi ("RMB") presented throughout the release were calculated at the rate of US$1.00=RMB6.1380,representing the noon buying rate as of September30, 2014 in the City of New York for cable transfers of RMB as certified for customs purposes by the Federal Reserve Bank of New York. This convenience translation is not intended to imply that the U.S. dollar amounts could have been, or could be, converted, realized or settled into RMB at that rate on September 30, 2014, or at any other rate.
"It's my pleasure to announce Ku6's earnings release for the third quarter of 2014," Mr. Xudong Xu, Chief Executive Officer of Ku6 Media, commented. "After the reduction of labor and CDN costs in the second quarter of 2014, we entered into a new advertising agency agreement with Huzhong in August which allowed us to realize higher revenue and enjoy better cash collection terms. As a result, we significantly narrowed our operating cash deficit by the end of the quarter and we are now forecasting a better operating cash flow in the next year."
Third Quarter 2014 Financial Results
Total revenues were US$1.62 million (RMB9.92 million) in the third quarter of 2014, representing an increase of 132.2% from US$0.70 million in the second quarter of 2014 and a decrease of 52.5% from US$3.40 million in the third quarter of 2013. The increase in revenues as compared to the second quarter of 2014 was due to an increase in third party advertising revenues and related party revenues from the Company's arrangements with Qinhe.
Cost of revenues was US$2.48 million (RMB15.24million) in the third quarter of 2014, representing a decrease of 25.5% from US$3.31 million in the second quarter of 2014 and a decrease of 32.8% from US$3.69 million in the third quarter of 2013. The decrease in cost of revenues as compared to the second quarter of 2014 was primarily due to decreased bandwidth costs and labor costs as a result of cost reduction measures.
Gross loss was US$0.87million (RMB5.32 million) in the third quarter of 2014, as compared to a gross loss of US$2.64 million in the second quarter of 2014 and a gross loss of US$0.29 million in the third quarter of 2013. Non-GAAP gross loss, which is herein defined as a gross loss excluding expenses (benefits) associated with share-based compensation, was US$0.83million (RMB5.11 million) in the third quarter of 2014, as compared to a non-GAAP gross loss of US$2.60 million in the second quarter of 2014 and a non-GAAP gross loss of US$0.25 million in the third quarter of 2013.
Operating expenses were US$1.60 million (RMB9.82 million) in the third quarter of 2014, representing a decrease of 47.2% from US$3.03 million in the second quarter of 2014 and a decrease of 61.1% from US$4.12 million in the third quarter of 2013. Non-GAAP operating expenses, which are defined as operating expenses excluding expenses (benefits) associated with share-based compensation, were US$1.47 million (RMB9.00 million) in the third quarter of 2014, as compared to non-GAAP operating expenses of US$3.02 million in the second quarter of 2014 and US$3.86 million in the third quarter of 2013. The decrease in operating expenses as compared to the second quarter of 2014 was mainly attributable to (i)the effect of severance pay in relation to the Company's headcount reduction plan started in April and (ii) a second quarter charge to provide an allowance of US$0.92 million (RMB5.71 million) for accounts receivable due from Shengyue, the Company's previous exclusive advertising agency, which originated during the period of time Shengyue was owned by Shanda Interactive for which collection was assessed to be remote.
Operating loss was US$2.47 million (RMB15.14 million) in the third quarter of 2014, representing a decrease of 56.4% from US$5.66 million in the second quarter of 2014 and a decrease of 44.0% from US$4.40 million in the third quarter of 2013. Non-GAAP operating loss, which reflects the exclusion of expenses (benefits) associated with share-based compensation, was US$2.30million (RMB14.11 million) in the third quarter of 2014, as compared to the non-GAAP operating loss of US$5.62 million in the second quarter of 2014 and US$4.10 million in the third quarter of 2013.
Net loss was US$0.93 million (RMB5.72 million) in the third quarter of 2014, representing a decrease of 82.6% from US$5.34 million in the second quarter of 2014 and a decrease of 72.9% from US$3.44 million in the third quarter of 2013.Non-GAAP net loss, which reflects the exclusion of expenses (benefits) associated with share-based compensation, was US$0.76 million (RMB4.68 million) in the third quarter of 2014, as compared to US$5.30 million in the second quarter of 2014 and US$3.14 million in the third quarter of 2013. The decrease in net loss as compared to the second quarter of 2014 was primarily attributable to the increase in revenues, the decrease in cost of revenues, the decrease in operating expenses, and a US$1.45 million (RMB8.91 million) gain from the disposal of the Company's equity interest in an affiliate to a third party company.
Net loss per basic and diluted ADS was US$0.02(RMB0.12) in the third quarter of 2014, as compared to US$0.11 in the second quarter of 2014 and US$0.07 in the third quarter of 2013. Weighted average ADSs used to calculate basic and diluted net loss per ADS were 47.6 million in the third quarter of 2014, 47.3 million in the second quarter of 2014and 47.3 million in the third quarter of 2013.
Adjusted EBITDA loss, which is herein defined as net loss before interest income, interest expense, income taxes, depreciation and amortization (excluding amortization and write-down of licensed video copyrights), further adjusted for share-based compensation expenses (benefits), other non-operating items, and the gain from disposal of an equity interest in an affiliate was US$2.05 million (RMB12.55million) in the third quarter of 2014, as compared to adjusted EBITDA loss of US$5.33 million in the second quarter of 2014 and US$3.31 million in the third quarter of 2013.
As of September 30, 2014, the Company had US$2.77 million (RMB17.02 million) in cash and cash equivalents, compared to US$4.24 million as of June 30, 2014. The decrease in cash and cash equivalents was primarily attributable to US$3.00 million (RMB18.39 million) of net cash outflows for operating activities, partially offset by proceeds from the disposal of an equity interest in an affiliate in the amount of US$1.45 million (RMB8.91 million).
Liquidity and Going Concern
Substantial doubt exists as to the Company's ability to continue as a going concern, primarily due to uncertainties regarding (1) the Company's ability to continue to improve operating cash inflows, which depend on growth in revenues from (i) Huzhong, the Company's new third party advertising agency since late August 2014, and (ii) two cooperation agreements with related party Qinhe; (2) the Company's ability to reduce its operating cash outflows; and (3) the availability and timing of additional financing with terms acceptable to the Company. Growth in the Company's operating cash inflows is principally dependent upon achieving revenue growth from successful cooperation with Huzhong and Qinhe as well as other efforts to expand sources of revenue.
The unaudited consolidated financial information included in this news release does not include any adjustments that might result from the outcome of these uncertainties and was prepared on the basis of a going concern which contemplates that the Company will be able to realize assets and discharge liabilities in the normal course of business.
I posted this earlier today on the YMB for KUTV and decided to pass it on here:
Huge Loss to be Reported For those of you unfortunate enough to still be invested here, please read the NT 20-F and 6K filings for 4/24 and you will see that: 1. Sales for Q4 will be BELOW LY & Q3; 2. Sales for 2013 will be $1M BELOW 2012 3. Loss for year will be appx. 34.5M vs 9.5M LY; 4. Cash at year end will be 1.7M vs 13.0M LY; 5. "Based upon certain conditions existing as of December 31, 2013, as well as certain events that have occurred subsequent to December 31, 2013, management has concluded that substantial doubt exists regarding the Company’s ability to continue as a going concern." 6. Short interest more than doubled from 3/31 to 4/15.
I actually tried to sell the shares short today, but my brokerage won't allow it, however, if you have the ability to sell them short, you stand a better chance of making money than by going/staying long - IMHO. Whatever you do, I wish you all the best. You can find the filings at SECdotGOV, don't take my word for it.
Ku6 Media controlling shareholder to sell 41% stake to Xu Xudong theflyonthewall.com 52 minutes ago
Ku6 Media announced that on March 31 the controlling shareholder of the company, Shanda Media, signed a share purchase agreement with Xu Xudong, to sell 1,938,360,784 ordinary shares of the company, amounting to approximately 41% of the company's issued and outstanding share capital, to Xu. Shanda Media currently owns approximately 70.5% of the company’s shares. Xu is the founder and controlling shareholder of Sky Profit Limited, which operates iSpeak, a social platform that allows users to engage in real-time online group activities through voice, text and video. The aggregate consideration for the sale shares will be determined based on the lower of the market price of the company’s ADSs during the seven consecutive business days immediately prior to the closing of the transaction and the closing price of the company’s ADSs on the closing date. Xu will fund the purchase price through a loan from Shanda Media, which will be secured by a pledge of all the company’s shares beneficially owned by Xu. The transaction is expected to be completed by April 30.
CHINA SCAM 6 MILLION IN CASH 155 MILLION MARKET CAP WOW TALK ABOUT A SCAM AND A FRAUD HARDLY NO REVENUES LOSING MONEY ANOTHER CHINESE SCAM AND FRAUD SEC NEEDS TO HALT THIS WORTHLESS POS SCAM LIKE THEY DID $FU $RINO $SNOFF ALOT OF INVESTORS GOING TO GET HURT ON THIS ONE WORTHLESS POS!!!! GOING TO CALL THE SEC HOPE THAT THEY SHUT THIS SCAM AND FRAUD DOWN SELL SELL SELL SHORT THIS WORTHLESS POS CHINA TRASH!!!!
Good luck with GIGM, I bought back in '06 and finally ended up taking a 5K loss when I sold out in '11, however, made over 20K trading GIGM options in '07. Was a great stock for a while but management lost their focus and went in too many directions at once. Probably nothing more than a day trading stock now. GL
great Q1-14 ahead! Net cash used in operating activities was US$3.86 million (RMB23.63 million) in the third quarter of 2013, as compared to US$0.93 million in the second quarter of 2013 and US$1.92 million in the third quarter of 2012.
This line right here in the PR sums up a lot, including the primary concern that I've had in recent months.
The Company generates substantially all of its revenues from online advertising, primarily through an advertising agency agreement with Shengyue, an affiliate wholly owned by Shanda Interactive, pursuant to which Shengyue acts as the Company's exclusive advertising agency for standard media resources and as its non-exclusive advertising agency for highly interactive advertising resources.
It's why I decided after the last quarterly to only trade this stock until they can prove that they can monetize on their traffic, which has grown many times over in the past year, along with the amount of time each visitor has spent on the website, also up about 5X from a year ago. If they can't monetize on standard traffic, they haven't a chance in hell to monetize on the mobile end, IMO.
Ku6 Media Reschedules Third Quarter 2013 Financial Results Report to December 19, 2013
Print
Alert
KU6 Media Co., Ltd. ADS, Each Representing 100 Ordinary Shares (MM) (NASDAQ:KUTV) Intraday Stock Chart
Today : Tuesday 17 December 2013 Click Here for more KU6 Media Co., Ltd. ADS, Each Representing 100 Ordinary Shares (MM) Charts.
BEIJING, Dec. 17, 2013 /PRNewswire/ -- Ku6 Media Co., Ltd., (NASDAQ: KUTV) ("Ku6" or the "Company"), a leading Internet video company in China focused on User Generated Content ("UGC"), today announced it has rescheduled its conference call regarding its unaudited financial results for the third quarter 2013. Ku6 Media's management team will be hosting the conference call at 8:00 pm EST on Thursday, December 19, 2013 (9:00 am Beijing time on Friday, December 20, 2013).
Dial-in numbers:
International Dial-in Number:
+65 67239381
United States Toll Free Number:
18665194004
Mainland China Toll Free Number:
4006208038 / 8008190121
Hong Kong Toll Free Number:
800930346
Conference ID:
22629562
A replay will be available from 11:00 pm December 19, 2013 EST for 7 days.
Ku6 Media Co., Ltd. (NASDAQ: KUTV) is a leading Internet video company in China focused on User Generated Content ("UGC"). Through its premier online brand and online video website, www.ku6.com, Ku6 Media provides online video uploading and sharing service, video reports, information and entertainment in China. For more information about Ku6 Media, please visit http://ir.ku6.com.
Earnings are due out this week for KUTV, and hopefully they show signs of revenue growth. It would also be nice to see guidance from the CEO if possible.
Estimated value of KUTV listed @ just under 2.0B $$$. There are various websites that offer revenue estimates, but this particular site instead provides market capitalization based on potential ad revs with their traffic, etc. Most of the websites I've encountered show KUTV and Youku as having similar values, with Youku always having a little edge in estimated revenues.
Notice how Youku's estimated value is very close to it's actual (3.9B estimate vs 4.7B actual) , while KUTV has a significant variance (2.0B estimate vs 127M actual).
While traffic has dipped slightly the last few months, the # of pageviews by visitors, along with the amount of time spent on the site are through the roof. The total time on the site is up 138% over the past several months to around 12 minutes. Youku on the other hand is down on both ends, and daily time on the site is currently around 3:30. While both sites have similar charts in terms of overall traffic, it's nice to see Ku6 gaining where it counts.
Bid/Ask 2.98/3.00 Up on Friday 6%+, and another 10%+ today.
Even if ad revs aren't great, there's accumulation here for a reason, IMO. Everyone knows that if they can eventually monetize on their traffic, including mobile, that they're golden. If her sister company is worth 4.5B and is supposedly attractive as a buyout candidate, then how much more is KUTV worth with just a small fraction of their market cap, and how much more attractive as an acquisition for a much larger company?
Traffic rank is currently @ #92 worldwide. It's slipped slightly the past few days, but should rebound. The price action could be telling about the upcoming FINS, as it's more than doubled. If they show solid revenue and maybe even some profits, then this could be a stock that's worth many times the current value.
Compare it to YOKU, which is worth over 5B and you can get a feel for the value with this one should they begin to monetize on their traffic.
News 
Market Data 
Discover 
