ALEXANDRIA, VA - (NewMediaWire) - August 31, 2015 - MOKO Social Media Limited (NASDAQ: MOKO) has today filed its preliminary unaudited results for the fiscal year ended June 30, 2015.
During the fiscal year ended June 30, 2015, MOKO achieved a number of key milestones.
The business focus was on expanding its Mobile Advertising segment in the U.S. and this was led via the re-location of MOKO's CEO from Australia to the U.S. in April 2014 and the opening of two premises in New York and Virginia. In combination, these events have laid the foundation for MOKO becoming a U.S. digital publisher with capability to develop and monetize digital assets for large target interest groups in the U.S., through mobile advertising.
From a corporate strategy standpoint, MOKO achieved its goal of raising capital in the U.S. as part of listing on the NASDAQ Stock Market, whilst maintaining its public listing on the Australian Securities Exchange, to become a dual-listed company. The NASDAQ shares, or American Depositary Receipts, began trading on June 27, 2014 and each represent the right to acquire forty fully-paid ordinary shares in MOKO.
MOKO's net loss after tax of A$20.29m reflected the cost of the U.S. transition and positioning as well as the 2015 year being one of business tactical consolidation. The Company has secured to serve various markets through contractual relationships including those of U.S. university intramural sports participants, U.S. high school students, U.S. running enthusiasts, participants in progressive U.S. politics and millennial women (i.e. between the ages of 18-34). The product development and acquisition efforts sought to expand products and activities within three core areas: students with key products being REC*IT, BigTeams powered by REC*IT and Speakiesy; Active Lifestyle with RunHaven as the main product and Politics with Blue Nation Review and VOYCIT as the main products. Tagroom and Deals-I-love are other investments made by the Company to serve the millennial mom and ecommerce demographics.
Full details of MOKO's preliminary unaudited results for the fiscal year ended 30 June, 2015 can be found in the release filed with the Australian Securities Exchange and the 6K filed with the U.S. SEC.
About MOKO SOCIAL MEDIA Limited
MOKO Social Media is at the forefront of the next generation in social media and publishing, providing innovative products and content to enable communities to engage and interact. MOKO is a platform publishing company that provides tailored content for high value, niche user groups. Mobile devices, including cell phones and tablets, account for 90 percent of user engagement.
MOKO is currently targeting students, political supporters and active lifestyle participants: communities that share common interests and need to engage regularly and efficiently. MOKO aims to capture these audiences by becoming their destination of choice for information and interaction. It does this by creating highly relevant and exclusive content, and by providing the platforms that enable the communities to consume and share the content seamlessly across devices.
MOKO then generates revenue from sponsorship, content syndication, social network distribution, advertising and other monetization of the platforms.
This integrated approach gives MOKO unique exposure to attractive markets that can be leveraged for revenue and growth. As MOKO grows there are clear synergies across different products, as well significant opportunities for cross promotion and diversification.
MOKO's Monthly Unique Visitors (MUV's) were 10.1 million as at June 2015 and its Monthly Social Reach (MSR) is currently around 179 million people. MOKO aims to reach 10-15 million MUV's by the end of 2015. MOKO is listed on NASDAQ (MOKO) and the Australian Securities Exchange (MKB).