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KITD.OB

KIT digital, Inc.

5/22/2013, 7:08 AM ET

Quote & Headlines Market Currents StockTalk

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| On the move

Tuesday, April 16, 5:56 PM KIT Digital (KITD.OB) has reached a deal with 3 of its top shareholders file for Chapter 11, and expects to do so by April 24. The company's profitable units - Ioko 365, Polymedia, Kewego, Multicast and Megahertz - won't be affected, and will restructured into a new entity called Piksel. The announcement comes after months of prospective offers for the company from ex-CEO Kaleil Isaza Tuzman. (8-K) Comment! [Tech]
Monday, February 11, 4:15 PM An investment group led by former KIT Digital (KITD.OB) CEO Kaleil Isaza Tuzman has lowered its offer range for the de-listed and deeply troubled company to $0.70-$1/share from a prior $1.35-$1.70/share. Tuzman criticizes KIT for suggesting his offer "lacked bona fide capital support," but judging by the fact KIT closed today at $0.44, it seems more than a few investors agree. (PR) Comment! [Tech, M&A]
Tuesday, December 11, 2012, 6:46 PM The NASDAQ has halted trading in KIT Digital (KITD -8.6%), pending the receipt of requested information. KIT shares fell to a mere $0.63 today following news of a delisting warning and the departure of two directors. Comment! [Tech, On the Move]
Tuesday, December 11, 2012, 10:24 AM KIT Digital (KITD -7.2%) is down to $0.65 after disclosing it has received a NASDAQ de-listing warning, and that directors Wayne Walker and Barak Bar-Cohen have resigned. Bar-Cohen's short-lived tenure as CEO ended in August. KIT, which is running low on cash, says it's still "exploring a broad range of strategic alternatives." Comment! [Tech, On the Move]
Wednesday, December 5, 2012, 1:45 PM KIT Digital (KITD +4.6%) has rallied to $0.74 on news ex-chairman/CEO Kaleil Isaza Tuzman (previous) has offered to buy the company for $1.35-$1.70/share. Tuzman had offered $3.75/share in November in a deal that would've required P-E support, but few expected that bid to remain following the bloodbath KIT shares saw last month on news it's restating results and running out of cash. 1 Comment [Tech, On the Move, M&A]
Friday, November 23, 2012, 12:45 PM Midday top 10 gainers: CCCL +42%. MAPP +21%. BGMD +21%. MCP +18%. INUV +16%. FIZZ +15%. ROSG +14%. DAC +13%. RIMM +13%. RIC +12%.
Top 10 Losers: KITD -64%. PTGI -17%. SGOC -12%. HDSN -9%. TELK -9%. SAB -8%. HRT -8%. NFEC -8%. THQI -7%. RCON -7%. 1 Comment [On the Move]
Friday, November 23, 2012, 9:10 AM Premarket gainers: ALU +18%. MAPP +14%. RIMM +11%. CIG +10%. SBS +7%. NBG +5%.
Losers: KITD -55.56%. 1 Comment [On the Move]
Friday, November 23, 2012, 8:58 AM KIT Digital (KITD) -56.5% premarket after Wednesday's announced restatement of prior period financial statements and postponement of Q3 2012 results. This morning, KITD's former Chairman/CEO urges the company to discuss his acquisition offer and conduct an open and transparent sale process. Comment! [Tech, On the Move]
Wednesday, November 21, 2012, 5:42 PM More on KIT Digital: The company says an event of default exists in a secured loan facility that has $11M outstanding; that its cash balance has dwindled to $10.6M ($4M of which is restricted), and that cash burn (partly due to restatement costs) is expected to continue. As a result, KIT is exploring "a broad set of strategic alternatives," including financing deals (virtually guaranteed to be dilutive) and a sale. It's also cancelling its 2012 shareholder meeting. KITD -58.9% AH. (PR) Comment! [Tech, On the Move, M&A]
Wednesday, November 21, 2012, 5:19 PM KIT Digital (KITD) -52% AH after announcing errors will force restatement of prior period financial statements and postponement of Q3 2012 results. The 2009, 2010 and 2011 years and the March and June quarters of 2012 will be restated; KITD says investors should no longer rely upon previously issued statements for those periods. Comment! [Tech, On the Move]
Thursday, October 11, 2012, 2:05 PM Volatile KIT Digital (KITD -12.7%) has plummeted to new all-time lows, though no news has hit the wires explaining the move. Over the course of 2012, KIT has seen management changes, board changes, job cuts, and a 4,000-mile HQ move. Comment! [Tech, On the Move]
Thursday, October 11, 2012, 12:45 PM Midday top 10 gainers: CLWR +37%. USAT +27%. PURE +22%. ANR +15%. ACI +14%. S +13%. DRWI +13%. PATK +12%. OSK +12%. JKS +12%.
Top 10 Losers: PRSS -16%. KITD -12%. CMN -11%. OTT -10%. WSO -10%. DLTR -9%. CLNT -8%. SWC -8%. BSDM -8%. ONE -8%. Comment! [On the Move]
Monday, September 17, 2012, 8:02 AM KIT Digital (KITD) is cutting 22% of its workforce in order to save about $40M annually. The company, which enables clients including Google, H-P, Disney-ABC and the BBC to distribute video across multiple devices via the cloud, has yet to make a profit and recently named a new CEO, CFO and CTO. 1 Comment [Tech]
Thursday, August 30, 2012, 7:32 AM KIT Digital (KITD) names shareholder Peter Heiland as its new CEO to replace the recently appointed Barak Bar-Cohen, according to a SEC filing (8-K). Heiland owns roughly 8% of the firm through JEC Capital Partners. Comment! [Tech]
Wednesday, August 29, 2012, 4:34 PM KIT Digital (KITD +6.7%) steadily moved higher today after announcing a $15M, 5-year contract to provide digital cable distribution software and services for Indian satellite broadcast infrastructure services firm NSPTL. KIT had closed yesterday near an all-time low - shares have been stung by poor earnings, management turmoil, and uncertainty related to an HQ move from Prague to New York. (PR) Comment! [Tech, On the Move]
Tuesday, August 14, 2012, 4:36 PM KIT digital (KITD): Q2 EPS of -$1.99 may not be comparable to consensus of $-0.36. Revenue of $51.1M (+13.6% Y/Y) beats by $6M. Shares -4.7% AH. (PR) Comment! [Earnings, Tech, On the Move]