24 Sep '14, 9am

Minds + Machines Wins .Law & .Vip; Loses 5 Auctions & Pockets $6.2 Million

Minds + Machines Group Limited (AIM:MMX), announce today that it won the new gTLD auctions for the new domain name extensions .Law and .Vip and lost private auctions for .Design, .Flowers, .Group, .Realestate and .Video and pocketed approximately $6.2 million (£3.8 million). The net cash to the Minds + Machines includes the amounts paid for .Vip and .Law, and is also net of auction fees and refunds that the Company received from ICANN for withdrawing applications. The Company also participated in the ICANN-sponsored auctions for .Vip and .Tech, in which it purchased .Vip for approximately $3.1 million, and lost the auction for .Tech. The auction for .Tech was sponsored by ICANN, and unlike private auctions the Company did not receive funds from the winning bidder of .Tech. In relation to .Law, a third party participated with the Company in the private auction. The third pa...

Full article: http://www.thedomains.com/2014/09/24/minds-machines-wins-...

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