ATRN Atrinsic Inc., This could be the mother of all short squeezes here. Buyins.nethas ATRN on the naked short list more than three days in a row now. This stock was trading over $2.00/share October 25th 2011, and is now under .02/share. Way oversold, You may have downloaded some music from this company , They are one of only a handful of companies that has licensing agreements with the major record labels. They have an estimated 16.5 million in assets.
CURRENTLY AT 52 week lows, tiny float and shorted into oblivion.
Recently delisted from Nasdaq on August 16, 2011, the Company received notice from the NASDAQ Listing Qualifications Staff indicating that the Company was not in compliance with the minimum stockholders' equity requirement of $2,500,000 for continued listing on The NASDAQ Capital Market. The Company remains non-compliant with that requirement and ultimately determined that the administrative burdens associated with being a listed security outweigh the benefits to the Company and its shareholders of a continued NASDAQ listing.
About Atrinsic and Kazaa
Our business is focused on two segments: (1) the Kazaa digital music subscription business, and (2) Search and affiliate marketing, built around the Atrinsic Interactive brand.
Built around a recurring-revenue business model, our subscription service is focused on digital music in the rapidly growing mobile space, and our lead offering, the Kazaa digital music service, is a recognizable brand in such a space. Our core strategic focus for Kazaa is to build and sustain a large and profitable subscriber base, to provide a clear, simple and competitive user experience to an engaged audience and to deliver entertainment content to our customers anywhere, anytime and on any device.
The Kazaa music service gives users unlimited access to millions of high-quality digital tracks. For a monthly fee users can stream unlimited music files and play those files on multiple devices. Subscribers can also save songs, albums and playlists and access them even when they are offline or don't have a phone signal. Customers can discover new music through custom radio and recommendations based upon our exclusive technology. Unlike other music services that charge you every time a song is downloaded, the Kazaa music service allows users to listen to and explore as much music as they want for one low monthly fee, without having to pay for every track or album. Consumers are billed for this service via credit card, or billed directly to their AT&T mobile phone. Royalties are paid to the rights' holders' for licenses to the music utilized by this digital service. Atrinsic and Brilliant Digital, Inc. jointly offer the Kazaa digital music service pursuant to a Marketing Services Agreement and a Master Services Agreement between the two companies.
Atrinsic Interactive, our affiliate network and search marketing agency, is a leading search agency and a top-tier affiliate network. We offer advertisers an integrated service offering across paid search, or search engine marketing, search engine optimization, display advertising, affiliate marketing, as well as offering business intelligence and brand protection services to our clients. Our core strategic focus for Atrinsic Interactive is to build a leading independent search marketing agency and a top-five affiliate network.
Current float is estimated at 7 to 12 million shares
A/S 100 million
Let's start the NEW YEAR off right and make some money with ATRN!
UPDATES (In Play)
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