Recently, ShockYa wrote about how FilmOn founder Alki David’s $5 million investment in streaming movie and TV company Quickflix is aiming at expanding his investment in IPTV and digital streaming. Now, according to The West Australian, the company’s monetary surge has given them a great time in the stock market.
According to the site, shares in Quickflix have, to quote the site, “surged” upon the news of David’s large investment. At 8:10 a.m., shares in the company were up 0.8 cents, or 42.1 percent to 2.7 cents. Earlier, the shares were at a peak of three cents.
After the market closed on New Year’s Eve, David would give his promised investment through a convertible loan and bond facility, stated Quickflix.
As reported earlier, David is enthusiastic about his investment. “Quickflix represents a key invetsment for me and the growth potential for the company in the Asia Pacific market and beyond is staggering,” he said, as reported by the The West Australian.
Also reported by The West Australian, Quickflix founder and chief executive Stephen Langsford said the company was delighted to secure funding from international investors who understood the high growth sector in which Quickflix operated and the opportunity in the region.
You can read more about the news out of Australia at The West Australian.
