Shares of MGT Capital Investments Inc. (NYSEMKT:MGT) ended Wednesday session in green amid volatile trading. The shares closed up +0.60 points or 17.70% at $3.99. Post opening the session at $3.50, the shares hit an intraday low of $3.42 and an intraday high of $4.00 and the price vacillated in this range throughout the day. The company has a market cap of $104.56 million and the numbers of outstanding shares have been calculated to be 25.86 million shares.
MGT Capital Investments Inc. (MGT) on Aug. 16, 2016 provided an update on its business and pending acquisitions, as well as its unaudited financial results for the three-month period ended June 30, 2016.
Financial Highlights for the second quarter of 2016
Cash used in operations was $2.1 million in the second quarter of 2016, an increase of $1.7 million, as compared to the quarter ended March 31, 2016. The increase was primarily driven by legal and professional fees incurred in connection with the proposed D-Vasive acquisition. Such costs are expected to be materially lower in the current quarter as well as next quarter.
Cash and cash equivalents were $1.1 million as of June 30, 2016, compared with $0.3 million as of December 31, 2015. Post quarter-end, the Company completed an offering of unsecured promissory notes with net proceeds of $2.1 million. As of August 15, 2016, the Company has $2.9 million in cash plus $1.7 million in marketable securities.
“In the second quarter the Company made significant progress implementing a multi-pronged strategy that has transformed MGT Capital Investments into the innovative cybersecurity company that we envisioned. With the broad set of differing technologies supporting the foundation of society, it is important that the cybersecurity protecting these technologies be just as diverse and forward thinking. This concept is the heart of the Company as we focus on developing cybersecurity technologies that protect the rapidly expanding Internet of Things, the Cloud, and mobile computing platforms,” said John McAfee, the Company’s proposed Executive Chairman and Chief Executive Officer.
“The upcoming shareholder vote on September 8th will allow the Company to move forward on several of the proposed events, including acquiring technologies from D-Vasive and Demonsaw, and the rebranding of the Company to ‘John McAfee Global Technologies, Inc.’ The details of these proposals are provided in the Definitive Proxy Statement filed by the Company with the SEC yesterday. In the meantime, the Company and its targeted acquisitions are moving ahead with the development and launch of several products.”
Shares of Verizon Communications Inc. (NYSE:VZ) ended Wednesday session in green amid volatile trading. The shares closed up +0.20 points or 0.37% at $53.71 with 10.61 million shares getting traded. Post opening the session at $53.50, the shares hit an intraday low of $53.28 and an intraday high of $53.79 and the price vacillated in this range throughout the day. The company has a market cap of $221.55 billion and the numbers of outstanding shares have been calculated to be 4.08 billion shares.
Verizon Communications Inc. (VZ) on Sept. 6, 2016 announced that it will carry the new LG V20 smartphone, coming soon. Designed to capture the most important moments in your life with stunning audio and visual clarity, the LG V20 is the perfect complement to Verizon LTE Advanced, which brings 50 percent faster peak wireless data speeds to more than 288 million people in 461 cities from coast to coast.
The V20 is a true evolution of the popular V10, featuring next-gen video and audio recording capabilities, a new front-facing 5MP wide-angle camera and a durable design that lets your phone stand out from the crowd.
Dressed to impress
So where do we start? How about the sexy 5.7″ quad-HD display enveloped in a new metal back cover that can easily be removed with the push of a button, giving you access to a removable 3200mAh battery. The back cover is made of AL 6013 aluminum — the same material used in airplanes — and both the top and bottom of the V20 are covered in silicone polycarbonate — a material used to reduce shock in helmets and airbags. These innovative materials help make the V20 durable. In fact, the V20 passed a key durability test (the MIL-STD-810G Transit Drop Test) by an independent laboratory. Under the hood is an updated Qualcomm Snapdragon 820 processor, 64GB of memory (50.45GB user available, expandable to 2TB with MicroSD, sold separately) and 4GB of RAM, making the V20 one of the fastest smartphones on the market.
Hi-Fi video in the palm of your hand
While previous LG phones are known for their phenomenal cameras, the V20 is leveling up audio and video with new technology that enables you to create crisp and clear content in the palm of your hand. For instance, LG introduced Steady Record 2.0, which cuts down on shaky images and the rolling shutter that makes videos look like jelly when you are moving and recording. In addition, the camera now includes hybrid autofocus for better tracking focus and video film effects to give you that old-fashioned analog look. The V20 also has wide-angle cameras on both sides of the phone, so you don’t have to cram to get the perfect selfie. Don’t worry, the second 16 megapixel rear-camera that you loved in the V10 is still there for when you need a little more reach.
High performance audio
The LG V20 will change the face of mobile audio recording by including the ability to record sound using a 24-bit / 48 kHz LPCM format, a format used by professional movie producers. In non-geek speak, that means you can record your favorite live concert or sporting event and get great quality sound without overbearing bass or treble distortion. The LG V20 is an audiophile’s dream, including four Hi-Fi Quad DACs, often found in professional recording systems that reduce white noise and cancel out all analog interference when listening through wired headphones. It even has a music studio mode for the aspiring (or professional) musician who needs a portable recorder to quickly and easily capture that song in their head.
Android Nougat out the gate
Finally, the V20 will be the first LG device with Android 7.0 Nougat operating system preloaded at launch. The smartphone will be fine-tuned to take advantage of many of the best features of Nougat, including Vulkan-supported high-quality, high-efficiency graphics for more immersive gaming, and new productivity features, such as Direct Reply.