The High Court has dismissed Hong Kong Television Network's judicial review over regulations on mobile TV services.
HKTV had planned to start high-definition mobile TV broadcasts after it failed to get a free-to-air terrestrial license. HKTV went to court after the Communications Authority said mobile services also needed a free-to-air license.
The technology that HKTV planned to use would enable TV sets in households also pick up its signals.
That, and the fact that thousands of households would be able to receive the signals, means such broadcasts fall under the free TV licensing regulations. The judge explained that with such a potentially huge audience, it is necessary to regulate programs to protect children and the public from immoral and improper material.
In a separate case in April this year, the High Court ordered the Executive Council to reconsider its decision to reject HKTV's application for a license in 2013.
Doesn't seem to be anything exceptional but I'm too tired to look at it closely. Looks like $10m revenue for 4Q not much quarterly income, working capital of $12.7m, excellent for a company this size. Just need some more sales to get stock price moving.
The $2.50 price target is much lower than the Shah of Himanshu's price target of $6.08. If $2.50 is as high as it gets for the rest of us "commoners" that makes me sad.
On the "litigation" front we should hear something in a couple weeks regarding the mobile licence. “On 12 August 2015, the court informed the parties that judgment would be ready for handing down in the middle of September 2015”. It would be nice utilize the mobile licence that Ricky bought a couple years ago, otherwise (at this point) it's just HK$140m flushed down the toilet. We have to wait until next year for the “free TV” licence appeal. (More is written about both of these matters in the “Material Litigation” section on page 17 of the latest “interim” results). And it seems Ricky is going ahead with the HK$450m media center to support their “multimedia business”, to be completed October 2016. Building it without the "free TV" licence, oh well. Maybe in the future he can sell these assets to competitors (if he continues to get shut out of the Hong Kong media market). Can't see the "HKTVmall" really generating any worthwhile business in the near future. Ricky really needs a broadcast licence but that seems unlikely at this point. The balance sheet is still solid so if the stock really gets hammered I might buy some more, but for now I'm watching and waiting.
I am bewildered and befuddled by the "term sheet" offer and with the "goings on" with Chinese stocks in general. The offer seems to make no sense given the current share price. (Begs the question "How smart are these Smart Soho guys anyway?")
What's the deal? I have no problem finding super cheap cereal on sale in the store, but K, POST, and even GIS are really expensive stocks right now. I guess hopes of consolidation justify the stock prices but does consolidation solve the industry pricing problem? I would short these stocks but I am a gutless wonder right now.
Maybe it's not a game changer, but the press release from yesterday was something I wasn't expecting until late September, i.e., news!! For the company it sounds like a decent accomplishment and something they should be proud of, especially given the fact that Frankiln is a relative small fry.
(And I looked on Wikipedia for some info on Kigali. It seems like they have some pretty temperate weather there, no extreme cold of heat throughout the year. Perfect bus riding weather. And if you don't have an internet hookup just get on the bus and get connected thru the free WiFi ).