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Monaker Group, Inc. (MKGI)

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  • GlobeNewswire

    Monaker Group Announces Launch of NextTrip Business, the Company’s Corporate Travel and Expense Management SaaS Solution

    WESTON, FL, Jan. 25, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire – Monaker Group, Inc. (NASDAQ: MKGI) (‘Monaker’ or the ‘Company’), a technology solutions company, today announced the launch of NextTrip Business, its corporate travel and expense management SaaS solution. The subscription-based software solution helps companies track and control travel expenditures while offering employees a single platform on which to book flights, accommodations, and transportation reservations. The proprietary NextTrip Business was designed by Monaker using feedback from small to medium-sized business owners specifying the features that are important to them in managing travel. The result is an affordable, robust travel and expense management solution with features previously only available on enterprise level platforms. The NextTrip Business platform offers users access to Monaker Group’s 3.4 million instantly confirmed Alternative Lodging Accommodations, an increasingly popular booking option. NextTrip Business features one of the largest inventories of flights, accommodations, alternative lodging, and car rentals with aggressively negotiated rates where available. Organizations can customize travel spend policies to stay on budget, pre-approve costs and streamline expense reports. Three subscription tiers offer increasing levels of savings and functionality. “Throughout the pandemic, Monaker Group has focused its efforts on developing a corporate travel management solution that provides small to medium-sized businesses with robust features that are traditionally available only on costly enterprise platforms,” said Tim Sikora, Chief Operations, and Information Officer for NextTrip. “As business travel resumes, companies will focus on customizing and managing their travel expenses. NextTrip Business is designed to fulfill those needs and capitalize on increased scrutiny of travel and related expenses.” A NextTrip Business mobile application, developed for both the iOS and Android operating systems, is expected to launch this Spring, and will allow users to book/manage travel and track expenses on mobile devices. Additionally, subscribers can obtain personalized, relevant content about their trips, including points of interest and the ability to book restaurants, attractions, and ride-sharing services. Integration with QuickBooks will also be introduced soon. For more information on the NextTrip corporate travel and expense management solution, including a demo, please visit www.nexttrip.com About Monaker Group Monaker Group, Inc., is an innovative technology-driven company with plans to build a next-generation company through acquisition and organic growth, leveraging the strengths and channels of our existing technologies with those that we acquire, creating synergy and opportunity in the leisure space. Monaker Group is a party to a definitive agreement (subject to closing conditions, including shareholder approval for the transaction) to acquire HotPlay Enterprise Limited, an innovative in-game advertising and AdTech company. Following the completion of the proposed HotPlay acquisition, Monaker Group plans to transform into NextPlay Technologies, an innovative global technology company focused on consumer engaging products in the video gaming and travel verticals with innovative Ad Tech, Artificial Intelligence and Blockchain solutions. For more information about Monaker Group, visit www.monakergroup.com and follow on Twitter and Linkedin @MonakerGroup. Forward-Looking Statements This press release includes “forward-looking statements” within the meaning of, and within the safe harbor provided by the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements give our current expectations, opinions, belief or forecasts of future events and performance. A statement identified by the use of forward-looking words including “will,” “may,” “expects,” “projects,” “anticipates,” “plans,” “believes,” “estimate,” “should,” and certain of the other foregoing statements may be deemed forward-looking statements. Although Monaker believes that the expectations reflected in such forward-looking statements are reasonable, these statements involve risks and uncertainties that may cause actual future activities and results to be materially different from those suggested or described in this news release. Factors that may cause such a difference include risks and uncertainties related to our need for additional capital which may not be available on commercially acceptable terms, if at all, which raises questions about our ability to continue as a going concern; the fact that the COVID-19 pandemic has had, and is expected to continue to have, a significant material adverse impact on the travel industry and our business, operating results and liquidity; amounts owed to us by third parties which may not be paid timely, if at all; certain amounts we owe under outstanding indebtedness which are secured by substantially all of our assets; the closing of the offering disclosed above, and the ultimate terms thereof, including consideration payable to Longroot in connection therewith; the fact that we have significant indebtedness, which could adversely affect our business and financial condition; our revenues and results of operations being subject to the ability of our distributors and partners to integrate our alternative lodging rental (ALR) properties with their websites, and the timing of such integrations; uncertainty and illiquidity in credit and capital markets which may impair our ability to obtain credit and financing on acceptable terms and may adversely affect the financial strength of our business partners; the officers and directors of the Company have the ability to exercise significant influence over the Company; stockholders may be diluted significantly through our efforts to obtain financing, satisfy obligations and complete acquisitions through the issuance of additional shares of our common or preferred stock; if we are unable to adapt to changes in technology, our business could be harmed; our business depends substantially on property owners and managers renewing their listings; if we do not adequately protect our intellectual property, our ability to compete could be impaired; our long-term success depends, in part, on our ability to expand our property owner, manager and traveler bases outside of the United States and, as a result, our business is susceptible to risks associated with international operations; unfavorable changes in, or interpretations of, government regulations or taxation of the evolving ALR, Internet and e-commerce industries which could harm our operating results; risks associated with the operations of, the business of, and the regulation of, Longroot; the market in which we participate being highly competitive, and because of that we may be unable to compete successfully with our current or future competitors; our potential inability to adapt to changes in technology, which could harm our business; the volatility of our stock price; risks associated with our pending share exchange agreement with HotPlay Enterprise Limited, including our ability to close such transaction and dilution caused by such closing, as well as dilution caused by the conversion of our outstanding Series B Preferred Stock and Series C Preferred Stock; the fact that we may be subject to liability for the activities of our property owners and managers, which could harm our reputation and increase our operating costs; and that we have incurred significant losses to date and require additional capital which may not be available on commercially acceptable terms, if at all. More information about the risks and uncertainties faced by Monaker are detailed from time to time in Monaker’s periodic reports filed with the SEC, including its most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, under the headings “Risk Factors”. These reports are available at www.sec.gov. Other unknown or unpredictable factors also could have material adverse effects on the Company’s future results and/or could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements. Investors are cautioned that any forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected. The forward-looking statements in this press release are made only as of the date hereof. The Company takes no obligation to update or correct its own forward-looking statements, except as required by law, or those prepared by third parties that are not paid for by the Company. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements. Company Contact:Monaker Group, Inc.Richard MarshallDirector of Corporate DevelopmentTel (954) 888-9779rmarshall@monakergroup.com

  • Monaker Group Files Initial Preliminary Proxy Statement in Order to Seek Shareholder Approval of HotPlay Enterprise Limited Share Exchange and Related Transactions
    GlobeNewswire

    Monaker Group Files Initial Preliminary Proxy Statement in Order to Seek Shareholder Approval of HotPlay Enterprise Limited Share Exchange and Related Transactions

    WESTON, FL, Jan. 14, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire \-- Monaker Group, Inc. (NASDAQ: MKGI), an innovative technology company, reported today that on January 13, 2021, the company filed its initial preliminary proxy statement on Schedule 14A, with the Securities and Exchange Commission (SEC). The proxy statement includes a proposal seeking, among other things, shareholder approval for the company’s previously announced acquisition of HotPlay Enterprise Limited (HotPlay). The initial filing is an important step in the process towards completing the acquisition of HotPlay, and the company anticipates that it may take several amendments to the proxy statement in order for the company to clear SEC comments (if any) on such proxy statement in order to finalize the form of proxy statement, mail such proxy statement, and ultimately seek shareholder approval. HotPlay is an innovative in-game advertising (“IGA”) company that leverages proprietary artificial intelligence (AI) and harmonizes engagement between businesses and consumers. Traditionally, in-game advertising is conducted by disruptive display ads and interstitials which are most likely to be ignored; however, the HotPlay technology seamlessly integrates native ads into games and enables client brands to insert non-intrusive and interactive digital coupons, redeemable through both online and offline channels. Client brands can track the conversion funnel from viewers to actual sales in real-time. Additionally, HotPlay helps game developers generate additional revenue by monetizing in-game real estate through IGA without compromising the integrity of the game.Monaker is transforming into an innovative technology enterprise leveraging video gaming and travel solutions with AdTech, Blockchain Solutions and Artificial Intelligence for the benefit of major brands, travel providers and consumers.Monaker has been leading this transformation through the proposed acquisition of HotPlay, in addition to the recently completed acquisition of a 33% stake in Axion Ventures, Inc., an independent AAA game developer and publisher, and the acquisition of an indirect controlling stake in Longroot, an initial coin offering (ICO) portal that is licensed and regulated in Thailand by the Thai Securities and Exchange Commission.About Monaker GroupMonaker Group, Inc., is an innovative technology-driven company building a next-generation company through acquisition and organic growth, leveraging the strengths and channels of our existing technologies with those that we acquire, creating synergy and opportunity in the leisure space. Monaker Group is a party to a definitive agreement (subject to closing conditions, including shareholder approval for the transaction) to acquire HotPlay Enterprise Limited, an innovative in-game advertising and AdTech company. Following the completion of the proposed HotPlay acquisition, Monaker Group plans to transform into NextPlay Technologies, an innovative global technology company focused on consumer engaging products in the video gaming and travel verticals with innovative Ad Tech, Artificial Intelligence and Blockchain solutions. For more information about Monaker Group, visit www.monakergroup.com and follow on Twitter and Linkedin @MonakerGroup.Forward-Looking StatementsCertain of the matters discussed in this communication which are not statements of historical fact constitute forward-looking statements that involve a number of risks and uncertainties and are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Words such as “strategy,” “expects,” “continues,” “plans,” “anticipates,” “believes,” “would,” “will,” “estimates,” “intends,” “projects,” “goals,” “targets” and other words of similar meaning are intended to identify forward-looking statements but are not the exclusive means of identifying these statements. Important factors that may cause actual results and outcomes to differ materially from those contained in such forward-looking statements include, without limitation, the ability of the parties to close the company’s previously announced share exchange agreement with HotPlay Enterprise Limited (“HotPlay”) on the terms set forth in, and pursuant to the required timing set forth in, the HotPlay share exchange agreement, if at all; the occurrence of any event, change or other circumstances that could give rise to the right of one or all of HotPlay, the HotPlay stockholders or the company (collectively, the “Share Exchange Parties”) to terminate the HotPlay share exchange agreement; the effect of such termination; the outcome of any legal proceedings that may be instituted against Share Exchange Parties or their respective directors; the ability to obtain regulatory and other approvals and meet other closing conditions to the HotPlay share exchange agreement on a timely basis or at all, including the risk that regulatory and other approvals required for the HotPlay share exchange agreement are not obtained on a timely basis or at all, or are obtained subject to conditions that are not anticipated or that could adversely affect the combined company or the expected benefits of the transaction; the ability to obtain approval by the company’s stockholders on the expected schedule of the transactions contemplated by the HotPlay share exchange agreement; delays in obtaining required financial statements for HotPlay and prior acquisitions of the company, to the extent required; difficulties and delays in integrating HotPlay’s and the company’s businesses; prevailing economic, market, regulatory or business conditions, or changes in such conditions, negatively affecting the parties; risks associated with COVID-19 and the global response thereto; risks that the transactions disrupt the company’s or HotPlay’s current plans and operations; failing to fully realize anticipated cost savings and other anticipated benefits of the HotPlay share exchange agreement when expected or at all; potential adverse reactions or changes to business relationships resulting from the announcement or completion of the HotPlay share exchange agreement; the ability of HotPlay and the company to retain and hire key personnel; the diversion of management’s attention from ongoing business operations; uncertainty as to the long-term value of the common stock of the combined company following the HotPlay share exchange agreement; the significant dilution which will be created to ownership interests of the company in connection with the closing of the HotPlay share exchange agreement and the conversion of the securities issued to the former Axion Ventures, Inc. stockholders and debt holders; the continued availability of capital and financing following the HotPlay share exchange agreement; the business, economic and political conditions in the markets in which Share Exchange Parties operate; and the fact that the company’s reported earnings and financial position may be adversely affected by tax and other factors. Other important factors that may cause actual results and outcomes to differ materially from those contained in the forward-looking statements included in this communication are described in the company’s publicly filed reports, including, but not limited to, the company’s Annual Report on Form 10-K for the year ended February 29, 2020 and its Quarterly Report on Form 10-Q for the quarter ended August 31, 2020.The company cautions that the foregoing list of important factors is not complete and does not undertake to update any forward-looking statements except as required by applicable law. All subsequent written and oral forward-looking statements attributable to the company or any person acting on behalf of any Share Exchange Parties are expressly qualified in their entirety by the cautionary statements referenced above.Additional Information and Where to Find ItIn connection with the proposed HotPlay share exchange agreement transactions, the company has filed a preliminary proxy statement and will file a definitive proxy statement with the SEC to seek stockholder approval for the HotPlay share exchange agreement and the issuance of shares of common stock pursuant thereto and in connection therewith, which, when finalized, will be sent to the stockholders of the company seeking their approval of the respective transaction-related proposals and the issuance of shares of common stock upon the conversion of shares of preferred stock issued in connection with the previously announced acquisition of a 33% interest in Axion Ventures, Inc. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE DEFINITIVE PROXY STATEMENT, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS AND ANY OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED WITH THE SEC IN CONNECTION WITH THE PROPOSED HOTPLAY SHARE EXCHANGE AGREEMENT, WHEN THEY BECOME AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE COMPANY, HOTPLAY AND THE PROPOSED HOTPLAY SHARE EXCHANGE AGREEMENT.Investors and security holders may obtain copies of these documents free of charge through the website maintained by the SEC at www.sec.gov or from the company at its website, www.monakergroup.com. Certain documents filed with the SEC by the company will also be available free of charge by accessing the company’s website at www.monakergroup.com under the heading “Stock Info” or, and all documents filed by the company with the SEC are available by directing a request by mail, email or telephone to Monaker Group, Inc. at 2893 Executive Park Drive, Suite 201, Weston, Florida 33331; info@monakergroup.com; or (954) 888-9779, respectively.Participants in the SolicitationThe company and certain of its respective directors and executive officers may be deemed to be participants in the solicitation of proxies from the respective stockholders of the company in respect of the proposed HotPlay share exchange agreement under the rules of the SEC. Information about the company’s directors and executive officers is available in the company’s Annual Report on Form 10-K/A (Amendment No. 1) for the year ended February 29, 2020, as filed with the Securities and Exchange Commission on June 25, 2020. Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the definitive proxy statement and other relevant materials to be filed with the SEC regarding the HotPlay share exchange agreement when they become available. Investors should read the definitive proxy statement carefully when it becomes available before making any voting or investment decisions. You may obtain free copies of these documents from the company using the sources indicated above.No Offer or SolicitationThis communication shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.Source: Monaker GroupCompany Contact:Monaker Group, Inc.Richard MarshallDirector of Corporate DevelopmentTel (954) 888-9779rmarshall@monakergroup.com

  • Monaker Group Announces Exercise and Closing of Underwriters’ Over-Allotment
    GlobeNewswire

    Monaker Group Announces Exercise and Closing of Underwriters’ Over-Allotment

    Weston, FL, Jan. 13, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire \-- Monaker Group, Inc. (NASDAQ: MKGI), an innovative technology company, today announced that the underwriters of its previously announced bought deal offering have exercised, in full, their option to purchase an additional 462,000 shares of the Company’s common stock at a price of $2.50 per share. Total gross proceeds to the Company from the offering, including the funds received from the prior closing and the exercise of this option, are approximately $8.85 million, before deducting underwriting discounts, commissions, and other offering expenses payable by the Company. The shares were offered pursuant to a shelf registration statement previously filed with and declared effective by the Securities and Exchange Commission (SEC). A prospectus supplement and accompanying base prospectus relating to the offering were filed with the SEC and are available on the SEC’s website at www.sec.gov. Kingswood Capital Markets, division of Benchmark Investments, Inc. and Aegis Capital Corp. acted as the book-running managers for the offering.A copy of the prospectus supplement and the accompanying base prospectus relating to and describing the terms of the offering can be obtained on the SEC's website at http://www.sec.gov or by contacting Kingswood Capital Markets, Attention: Syndicate Department, 17 Battery Place, Suite 625, New York, NY 10004, by email at syndicate@kingswoodcm.com, or by telephone at (212) 404-7002.This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.About Monaker GroupMonaker Group, Inc., is a technology-driven company building what Monaker’s management believes to be a next-generation company through acquisition and organic growth, leveraging the strengths and channels of our existing technologies with those that we acquire, creating synergy and opportunity in the leisure space. For more information about Monaker Group, visit www.monakergroup.com and follow on Twitter and Linkedin @MonakerGroup.Forward-Looking StatementsThis release includes “forward-looking statements” within the meaning of, and within the safe harbor provided by the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements give our current expectations, opinions, belief or forecasts of future events and performance. A statement identified by the use of forward-looking words including “will,” “may,” “expects,” “projects,” “anticipates,” “plans,” “believes,” “estimate,” “should,” and certain of the other foregoing statements may be deemed forward-looking statements. Although Monaker believes that the expectations reflected in such forward-looking statements are reasonable, these statements involve risks and uncertainties that may cause actual future activities and results to be materially different from those suggested or described in this news release. More information about the risks and uncertainties faced by Monaker will be contained in, in and incorporated by reference in, the section captioned “Risk Factors” in the prospectus supplement related to the public offering and are detailed from time to time in Monaker’s periodic reports filed with the SEC, including its most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. These reports are available at www.sec.gov. Other unknown or unpredictable factors also could have material adverse effects on the Company’s future results and/or could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements. Investors are cautioned that any forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected. The forward-looking statements in this press release are made only as of the date hereof. The Company takes no obligation to update or correct its own forward-looking statements, except as required by law, or those prepared by third parties that are not paid for by the Company. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.Contact:Monaker Group, Inc.info@monakergroup.comTel: (954) 888-9779