Proactiveinvestors United Kingdom Mobile Streams PLC https://www.proactiveinvestors.co.uk Proactiveinvestors United Kingdom Mobile Streams PLC RSS feed en Wed, 17 Jul 2019 00:03:22 +0100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Mobile Streams plunges after reporting huge decline in revenue ]]> https://www.proactiveinvestors.co.uk/companies/news/223900/mobile-streams-plunges-after-reporting-huge-decline-in-revenue-223900.html Shares in Mobile Streams PLC (LON:MOS) plunged by more than two-fifths following a grim trading update.

The provider of media entertainment content to mobile devices was hit by tough conditions in Argentina, which is its main market, and in India, the market into which it expanded in order to reduce reliance on Argentina.

Revenue in the year to the end of June plummeted to £1.3mln from £3.1mln but the underlying loss (EBITDA) narrowed to £1.0mln from £1.2mln.

Revenue in Argentina declined significantly during the fourth quarter of its financial year, primarily due to the devaluation of the Argentinian peso.

The cash-strapped company said its performance was also affected by the limited funds available for working capital purposes.

The company dismissed the managing director of its operations in Argentina in April, resulting in a further £110,000 in restructuring and redundancy costs on top of those previously announced.

READ Mobile Streams cuts costs to the bone

The company now expects to cough up around £400,000 related to its round of redundancies in Argentina.

In India, trading has been affected by the consolidation of mobile telecoms operators. On top of that, a number of the companies' partners in India have generated lower revenues during the year.

"Despite the falling revenue and the cost reduction actions implemented, the company continues to focus on potential business development opportunities and financing initiatives in order to ensure that the company has sufficient working capital to support its commercial activities for the foreseeable future,” said Simon Buckingham, the chief executive officer of Mobile Streams.

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Mon, 15 Jul 2019 09:03:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/223900/mobile-streams-plunges-after-reporting-huge-decline-in-revenue-223900.html
<![CDATA[RNS press release - Trading Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20190715070004_14148471/ Mon, 15 Jul 2019 07:00:04 +0100 https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20190715070004_14148471/ <![CDATA[News - Mobile Streams cuts costs to the bone ]]> https://www.proactiveinvestors.co.uk/companies/news/218478/mobile-streams-cuts-costs-to-the-bone-218478.html Mobile Streams PLC (LON:MOS) said it has cut costs significantly, while directors have deferred 50% of their pay following a sharp downturn in revenues.

Operating expenses will drop by 62% ongoing; however, it said it will hand over £290,000 in severance payments, leaving just £219,000 in the bank.

"Given the falling revenue, it was necessary to take decisive cost reduction actions,” said chief executive Simon Buckingham.

“This has allowed the company to preserve and protect its remaining cash balances.

“The company is looking at all potential business development opportunities and other asset optimisation strategies."

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Fri, 12 Apr 2019 07:58:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/218478/mobile-streams-cuts-costs-to-the-bone-218478.html
<![CDATA[RNS press release - Trading Statement ]]> https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20190412070005_14038578/ Fri, 12 Apr 2019 07:00:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20190412070005_14038578/ <![CDATA[RNS press release - Second Price Monitoring Extn ]]> https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20190329110554_14021459/ Fri, 29 Mar 2019 11:05:54 +0000 https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20190329110554_14021459/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20190329110018_14021449/ Fri, 29 Mar 2019 11:00:18 +0000 https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20190329110018_14021449/ <![CDATA[RNS press release - Half-year Report ]]> https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20190329070003_14020400/ Fri, 29 Mar 2019 07:00:03 +0000 https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20190329070003_14020400/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20190301131501_13987580/ Fri, 01 Mar 2019 13:15:01 +0000 https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20190301131501_13987580/ <![CDATA[RNS press release - Subscription of 40,000,000 New Ordinary Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20190227070005_13982790/ Wed, 27 Feb 2019 07:00:05 +0000 https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20190227070005_13982790/ <![CDATA[RNS press release - Results of General Meeting ]]> https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20190219132034_13974481/ Tue, 19 Feb 2019 13:20:34 +0000 https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20190219132034_13974481/ <![CDATA[RNS press release - Partnership with SIM Digital in Indonesia ]]> https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20190130071007_13951514/ Wed, 30 Jan 2019 07:10:07 +0000 https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20190130071007_13951514/ <![CDATA[RNS press release - Posting of Circular and Notice of General Meeting ]]> https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20190130070004_13951118/ Wed, 30 Jan 2019 07:00:04 +0000 https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20190130070004_13951118/ <![CDATA[RNS press release - Mobile Streams' new market initiative in Indonesia ]]> https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20190122070010_13942046/ Tue, 22 Jan 2019 07:00:10 +0000 https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20190122070010_13942046/ <![CDATA[RNS press release - Half Year Trading Statement ]]> https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20190114070004_13932725/ Mon, 14 Jan 2019 07:00:04 +0000 https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20190114070004_13932725/ <![CDATA[RNS press release - Partnership with Reliance Jio ]]> https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20190107070006_13925048/ Mon, 07 Jan 2019 07:00:06 +0000 https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20190107070006_13925048/ <![CDATA[RNS press release - Result of AGM ]]> https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20181207104456_13895918/ Fri, 07 Dec 2018 10:44:56 +0000 https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20181207104456_13895918/ <![CDATA[RNS press release - Second Price Monitoring Extn ]]> https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20181204070226_13890003/ Tue, 04 Dec 2018 07:02:26 +0000 https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20181204070226_13890003/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20181204070059_13889987/ Tue, 04 Dec 2018 07:00:59 +0000 https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20181204070059_13889987/ <![CDATA[RNS press release - Second Price Monitoring Extn ]]> https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20181203090527_13888649/ Mon, 03 Dec 2018 09:05:27 +0000 https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20181203090527_13888649/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20181203090013_13888642/ Mon, 03 Dec 2018 09:00:13 +0000 https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20181203090013_13888642/ <![CDATA[RNS press release - Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20181130132838_13887354/ Fri, 30 Nov 2018 13:28:38 +0000 https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20181130132838_13887354/ <![CDATA[News - Mobile Streams signs new direct billing deal with Indian telecoms giant ]]> https://www.proactiveinvestors.co.uk/companies/news/210294/mobile-streams-signs-new-direct-billing-deal-with-indian-telecoms-giant-210294.html Mobile Streams PLC (LON:MOS) has signed a direct billing agreement with Indian telecoms giant BSNL, giving it access to over 100mln new customers.

Shares in the AIM-quoted firm more than doubled on the back of the news to 1.35p.

Mobile has traditionally been a South America-focused company but has been growing its presence in India of late. Today’s deal with BSNL is the fourth billing connection signed in the country.

READ: MOS seals India deal with CoolGames

It means that the telecoms operator’s 100mln customers can now purchase apps on Mobile Streams’ mobilegaming.com store and add the cost on to their next phone bill.

In theory, this makes the buying process easier and should improve conversion rates.

“We welcome the opportunity to partner with India's longest established communication service provider,” said chief executive Simon Buckingham.

“The mobile games industry in India has great potential and we are pleased to connect with BSNL's 100mln subscribers.”

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Fri, 30 Nov 2018 09:26:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/210294/mobile-streams-signs-new-direct-billing-deal-with-indian-telecoms-giant-210294.html
<![CDATA[RNS press release - Billing agreement with BSNL ]]> https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20181130070005_13886155/ Fri, 30 Nov 2018 07:00:05 +0000 https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20181130070005_13886155/ <![CDATA[News - Mobile Streams seals India deal with CoolGames ]]> https://www.proactiveinvestors.co.uk/companies/news/209833/mobile-streams-seals-india-deal-with-coolgames-209833.html Mobile Streams (LON:MOS) said it had reached an agreement with CoolGames to provide its HTML5 services to third-party companies in India, sending its shares rocketing.

Mobile Streams launched the HTML5 games service mobilegaming.com in 2015, with the Indian service in 2016. The services feature over 300 titles including racing and puzzle games.

READ: Mobile Streams narrows loss but revenues drop amid tough market conditions

CoolGames makes mobile gaming content available outside of the traditional marketplace and app stores.

Mobile Streams said it had gained subscribers at an encouraging rate, reaching over 6mln subscribers since launch, in recent months.

“We are very happy with the performance of our HTML5 games store since launching in India in 2018,' Mobile Streams CEO Simon Buckingham said in a statement.

“We are very appreciative of the support and expertise CoolGames have provided and expect the partnership to flourish in the future,” he added.

Shares in Mobile Streams were 34.3% up at 1.01p in mid-morning trade.

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Fri, 23 Nov 2018 10:18:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/209833/mobile-streams-seals-india-deal-with-coolgames-209833.html
<![CDATA[RNS press release - MOS welcome the 6 millionth user ]]> https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20181123070003_13877932/ Fri, 23 Nov 2018 07:00:03 +0000 https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20181123070003_13877932/ <![CDATA[News - Mobile Streams narrows loss but revenues drop amid tough market conditions ]]> https://www.proactiveinvestors.co.uk/companies/news/208900/mobile-streams-narrows-loss-but-revenues-drop-amid-tough-market-conditions-208900.html Mobile Streams Plc (LON:MOS) narrowed its full-year loss but revenues declined due to a challenging market in Argentina and the consolidation of mobile phone providers in India.

The group made a loss before tax of £900,000 in the year to June 30, compared to a loss of £1.7bn last year, as the company invested in its expansion in India as part of a strategy to reduce its reliance on Argentina.

Revenues fell to £3.0mln from £5.7mln last year, reflecting tough macroeconomic conditions and regulation for mobile content subscriptions in Argentina, a competitive India market and foreign exchange headwinds.  

READ: Mobile Streams happy with progress away from Argentina

The company said India’s mobile phone market has faced heightened competition in the past year due to the disruption of Reliance Jio, leading to the merger of local provider Idea and Vodafone and the bankruptcy of Aircel.

“As a result, the company has turned its focus towards working with operators with stable operations which in turn will provide greater opportunity for future returns,” Mobile Streams said.

“While this has resulted in lower revenues than hoped for at the start of the financial year, recent performance, in particular, indicates grounds for optimism in 2019.”

Looking ahead, the group said it aims to increase revenues while maintaining a positive margin in India and Argentina.

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Fri, 09 Nov 2018 08:03:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/208900/mobile-streams-narrows-loss-but-revenues-drop-amid-tough-market-conditions-208900.html
<![CDATA[RNS press release - Final Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20181109070002_13860961/ Fri, 09 Nov 2018 07:00:02 +0000 https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20181109070002_13860961/ <![CDATA[RNS press release - Mobile Streams break new ground in India ]]> https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20181011070009_13824338/ Thu, 11 Oct 2018 07:00:09 +0100 https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20181011070009_13824338/ <![CDATA[RNS press release - Launch of New Mobile Game Store ]]> https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20180926070006_13804577/ Wed, 26 Sep 2018 07:00:06 +0100 https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20180926070006_13804577/ <![CDATA[News - Mobile Streams teams up for Electroneum cryptocurrency launch ]]> https://www.proactiveinvestors.co.uk/companies/news/204825/mobile-streams-teams-up-for-electroneum-cryptocurrency-launch-204825.html Mobile Streams PLC (LON:MOS) has announced the launch of Electroneum, described as an ‘enablement cryptocurrency’.

It will be in coordination with “one of the leading telecom operator channels” in Argentina.

The company explained that the platform will provide its customers an option to generate cryptocurrency from services which could be used to make online purchases, or, be exchanged for standard currency.

READ: Why does bitcoin dominate the crypto market?

"We're delighted to be partnering with Mobile Streams to launch in Argentina,” said Richard Ells, Electroneum chief executive.

“This is a key territory for us as we look to move towards mass adoption and enable more people to live better lives."

Simon Buckingham, Mobile Streams chief executive, added:  “We are very happy to launch the Electroneum product in Argentina, with the current economic instability in the region, the opportunity for customers to generate money through the mobile miner will be a positive enhancement to our live services."

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Thu, 13 Sep 2018 09:54:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/204825/mobile-streams-teams-up-for-electroneum-cryptocurrency-launch-204825.html
<![CDATA[RNS press release - MOS launch Electroneum Cryptocurrency in Argentina ]]> https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20180913070010_13788936/ Thu, 13 Sep 2018 07:00:10 +0100 https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20180913070010_13788936/ <![CDATA[RNS press release - Mobile Streams branch out in Latin America ]]> https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20180831070006_13773840/ Fri, 31 Aug 2018 07:00:06 +0100 https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20180831070006_13773840/ <![CDATA[RNS press release - MOS announces launch of Augmented Reality game ]]> https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20180814070014_13753919/ Tue, 14 Aug 2018 07:00:14 +0100 https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20180814070014_13753919/ <![CDATA[RNS press release - Mobile Streams announce new and exclusive games ]]> https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20180731070031_13736934/ Tue, 31 Jul 2018 07:00:31 +0100 https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20180731070031_13736934/ <![CDATA[RNS press release - Trading Statement ]]> https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20180712070005_13714745/ Thu, 12 Jul 2018 07:00:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20180712070005_13714745/ <![CDATA[RNS press release - Mobile Streams signs agreement with Electroneum ]]> https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20180615070006_13680775/ Fri, 15 Jun 2018 07:00:06 +0100 https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20180615070006_13680775/ <![CDATA[RNS press release - Second Price Monitoring Extn ]]> https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20180503140542_13629220/ Thu, 03 May 2018 14:05:42 +0100 https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20180503140542_13629220/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20180503140038_13629208/ Thu, 03 May 2018 14:00:38 +0100 https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20180503140038_13629208/ <![CDATA[RNS press release - Agreement with Aptoide ]]> https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20180501070007_13624875/ Tue, 01 May 2018 07:00:07 +0100 https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20180501070007_13624875/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20180430163001_13624418/ Mon, 30 Apr 2018 16:30:01 +0100 https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20180430163001_13624418/ <![CDATA[RNS press release - Subscription to raise funds ]]> https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20180420070003_13611902/ Fri, 20 Apr 2018 07:00:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20180420070003_13611902/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20180416094858_13605457/ Mon, 16 Apr 2018 09:48:58 +0100 https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20180416094858_13605457/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20180409124139_13597084/ Mon, 09 Apr 2018 12:41:39 +0100 https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20180409124139_13597084/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20180328085448_13584668/ Wed, 28 Mar 2018 08:54:48 +0100 https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20180328085448_13584668/ <![CDATA[RNS press release - Half-year Report ]]> https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20180327070005_13582147/ Tue, 27 Mar 2018 07:00:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20180327070005_13582147/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20180214084955_13532706/ Wed, 14 Feb 2018 08:49:55 +0000 https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20180214084955_13532706/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20180208074617_13525970/ Thu, 08 Feb 2018 07:46:17 +0000 https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20180208074617_13525970/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20180206083110_13522798/ Tue, 06 Feb 2018 08:31:10 +0000 https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20180206083110_13522798/ <![CDATA[RNS press release - Trading Statement ]]> https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20180202093001_13519654/ Fri, 02 Feb 2018 09:30:01 +0000 https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20180202093001_13519654/ <![CDATA[RNS press release - Appointment of Non-Executive Director ]]> https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20180102070005_13481314/ Tue, 02 Jan 2018 07:00:05 +0000 https://www.proactiveinvestors.co.uk/companies/rns/652/LSE20180102070005_13481314/