The company name sounds a little creepy, but investors attracted to anything that has to do with China and entertainment may be glad to know that beginning tomorrow NASDAQ will carry shares of YOU On Demand, China’s top provider of pay-per-view and VOD services, under the ticker symbol “YOD.” It currently offers films from Disney, Warner Bros, Lionsgate, and Miramax. Before you call in your “buy” order, you should know that the company’s still in its investment phase and lost $4.2M in Q1 — an increase from its $2.6M loss in the period last year — on revenues of about $2M, up 20%. This month CEO Shane McMahon loaned the company $3M. Company shares have lost nearly 40% of their value over the last 12 months in over the counter trading. These and other factors “raise substantial doubt about the Company’s ability to continue as a going concern,” YOU On Demand says in its latest quarterly filing. McMahon calls this “a significant milestone in YOU On Demand’s development.” He says it validates the company’s corporate governance practices, and “will give our company the potential to broaden our shareholder base, improve liquidity and increase visibility of our achievements moving forward.” (McMahon is a former World Wrestling Entertainment wrestler and exec, and the son of that company’s CEO Vince McMahon and Connecticut GOP Senate candidate Linda McMahon.) With any luck, NASDAQ’s computers won’t seize up trying to handle orders the way they did a few weeks ago when Facebook went public.
By DAVID LIEBERMAN, Executive Editor | Tuesday May 29, 2012 @ 4:46pm EDTTags: China, NASDAQ, YOU On Demand
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This article was printed from http://www.deadline.com/2012/05/china-vod-provider-you-on-demand-to-trade-on-nasdaq/
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