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Last $0.68 USD
Change Today -0.0126 / -1.83%
Volume 219.6K
As of 8:10 PM 04/24/15 All times are local (Market data is delayed by at least 15 minutes).

unwired planet inc (UPIP) Key Developments

Unwired Planet, Inc. Appoints Boris Teksler as Chief Executive Officer, Effective June 1, 2015

Unwired Planet, Inc. announced that Boris Teksler will join the company as chief executive officer, effective June 1, 2015. Mr. Teksler will also become a member of the board of directors. Mr. Teksler is currently senior executive vice president and president of the Technology Business Group at Technicolor.

Unwired Planet, Inc. Appoints Dean (Kip) Witter as CFO, Principal Financial Officer and Principal Accounting Officer

On March 12, 2015, the Board of Directors of Unwired Planet, Inc. appointed Dean (Kip) Witter III, age 67, as the Chief Financial Officer (CFO), principal financial officer and principal accounting officer of the Company, effective as of March 12, 2015. Mr. Witter will provide consulting services to the Company as CFO pursuant to an existing consulting agreement with The Brenner Group, Inc. (the Brenner Group) which was entered into as of October 31, 2014.

Unwired Planet Receives Non-Compliance Notice From Nasdaq

On March 4, 2015, Unwired Planet, Inc. received a written notification from the NASDAQ Stock Market LLC (Nasdaq) indicating that the Company was not in compliance with the minimum bid price requirement set forth in the Nasdaq Listing Rules for continued listing on the Nasdaq Global Select Market. Nasdaq Listing Rule 5450(a)(1) requires listed securities to maintain a minimum bid price of $1.00 per share, and Listing Rule 5810(c)(3)(A) provides that a failure to meet the minimum bid price requirement exists if the deficiency continues for a period of 30 consecutive business days. Based on the closing bid price of the Company’s common stock for the 30 consecutive business days from January 20, 2015 to March 3, 2015, the Company no longer meets the minimum bid price requirement. The Notice has no immediate effect on the listing of the Company’s common stock on Nasdaq. To regain compliance, the closing bid of the Company’s shares of common stock must meet or exceed $1.00 per share for a minimum of 10 consecutive business days during the 180 calendar day grace period provided under the Listing Rules.

Mark Thompson to Resign as Interim CFO, Principal Financial Officer and Principal Accounting Officer of Unwired Planet, Inc., Effective March 12, 2015

On February 9, 2015, Unwired Planet, Inc. announced that it anticipated change in personnel with respect to the interim chief financial officer (“CFO”) services currently being provided by Mark Thompson. Consequently, the Company expects Mr. Thompson to resign from his current position as the Company’s interim CFO, principal financial officer and principal accounting officer on or about March 12, 2015.

Unwired Planet, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2014

Unwired Planet, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended December 31, 2014. For the quarter, net revenue was $1.3 million. Operating loss from continuing operations totaled $11.0 million compared to $7.10 million a year ago. On a GAAP basis, net loss was $10.96 million, or $0.10 per basic and diluted share, compared with a net loss of $7.29 million, or $0.07 per basic and diluted share a year ago. Loss from continuing operations was $11.04 million, or $0.10 per basic and diluted share, compared with a net loss of $7.53 million, or $0.07 per basic and diluted share a year ago. For the six months, net revenue was $16.73 million. Operating loss from continuing operations totaled $21.43 million compared to $13.69 million a year ago. On a GAAP basis, net loss was $23.08 million, or $0.21 per basic and diluted share, compared with a net loss of $14.48 million, or $0.14 per basic and diluted share a year ago. Loss from continuing operations was $23.15 million, or $0.21 per basic and diluted share, compared with a net loss of $14.60 million, or $0.14 per basic and diluted share a year ago. Net cash used in operating activities was $40.04 million compared to net cash provided by operating activities of $2.37 million a year ago. Purchases of property and equipment were $30,000 compared to net cash provided by operating activities of $51,000 a year ago.

 

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Price/Earnings NM Not Meaningful
Price/Sales 2.0x
Price/Book 1.9x
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