MK Automotive, Inc. (OTC Pink: MKAU) is engaged as an auto repair and maintenance chain within Las Vegas, Nevada. Shares of the automotive company are surging 53.28%, through early trading on Thursday, February 2, 2017. Over the past three months, MK Automotive, Inc. has seen average daily volume of 677,667 shares. However, volume of 5.3 million shares or dollar volume of $212,000, has already exchanged hands through early trading.
Shares of MK Automotive, Inc. are surging Thursday, after the company announced that it has acquired Clikia for $37 billion, which is a video streaming service. The company will now focus on delivering “over the top” digital content services. This means that the company will offer streaming video over the internet. Here is the full press release detailing of the recent acquisition:
MK Automotive, Inc. Press Release:
PHOENIX, AZ–(Marketwired – Feb 1, 2017) – MK Automotive, Inc. ( OTC PINK : MKAU ) announces today the acquisition of Video Content Service Provider Clikia, entering the $37 billion video streaming revolution known as “Cutting the Cord.”
MK Automotive CEO David Loflin said, “With the acquisition of ‘Clikia’ we enter the ‘Over the Top’ video content delivery industry. ‘Over the Top,’ or ‘OTT,’ is the term used for the delivery of Film and Television content over the internet.
“‘OTT’ is at the center of the uncontainable revolution known as ‘Cutting the Cord’ which is expected to generate $37 billion in revenue in 2017 and exceed $60 billion in revenue by 2020.
“‘Cutting the Cord’ is the result of a Tech-Savvy, Content-Hungry Audience and their desire to control the content they watch. This revolution frees the consumer of the high cost subscription rates from other TV service providers, whose subscription rates range from $50 to $200,” said Loflin.
Mr. Loflin continues to say, “The trend of ‘Cutting the Cord’ is the result of several previous technological breakthroughs that include: File-Sharing, WiFi, Smart Phones and Tablets. The adoption and popularity of YouTube and Netflix has launched the ‘OTT’ industry. ‘OTT’ video content delivery is the future!
“Clikia will open for registration on February 15th and will offer many levels of service choices from a free account to a premium account priced at less than $30.00 per month. Simultaneously we will also launch an aggressive marketing campaign for subscribers using all internet and social media platforms. We will also take advantage of the fact that we are one of the only companies in the OTC Markets to provide this revolutionary service.”
Service can be viewed at http://clikia.tv
This Press Release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the company’s current plans and expectations, as well as future results of operations and financial condition. A more extensive listing of risks and factors that may affect the company’s business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with the Securities and Exchange Commission and OTC Markets, Inc. OTC Disclosure and News Service. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.