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Tucows Sells 2,500 Domain Names
TORONTO, June 19 /CNW/ - Tucows Inc. (AMEX:TCX, TSX:TC) today announced that it has sold approximately 2,500 domain names from its portfolio of domain names for US$3.0 million in a private transaction. Tucows may earn up to an additional US$1.2 million if certain performance criteria are met. Any additional payment will be payable in one year's time.
"This sale indicates some of the latent value of our domain name
portfolio," said Elliot Noss, President and CEO of Tucows Inc. "As I have
stated in the past, we will continue to be opportunistic with our domain name
assets. While, this transaction does contain revenue-generating assets, we
felt that the sale was appropriate. This transaction also provides us with an
opportunity to step back and evaluate some operating possibilities.
Accordingly, while we now believe our cash flow from operations for 2007 will
likely be at the top end of the US$10 million to US$12 million range, we do
not expect to be discussing any possible change in guidance until our next
conference call at the earliest."
Source
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TORONTO, June 19 /CNW/ - Tucows Inc. (AMEX:TCX, TSX:TC) today announced that it has sold approximately 2,500 domain names from its portfolio of domain names for US$3.0 million in a private transaction. Tucows may earn up to an additional US$1.2 million if certain performance criteria are met. Any additional payment will be payable in one year's time.
"This sale indicates some of the latent value of our domain name
portfolio," said Elliot Noss, President and CEO of Tucows Inc. "As I have
stated in the past, we will continue to be opportunistic with our domain name
assets. While, this transaction does contain revenue-generating assets, we
felt that the sale was appropriate. This transaction also provides us with an
opportunity to step back and evaluate some operating possibilities.
Accordingly, while we now believe our cash flow from operations for 2007 will
likely be at the top end of the US$10 million to US$12 million range, we do
not expect to be discussing any possible change in guidance until our next
conference call at the earliest."
Source
+++++
