When we lasted touched upon MK Automotive Inc (OTCMKTS:CLKA), it was trading under the symbol ‘MKAU’, and while its official listed name on Google Finance remains MK Automotive as of the publishing of this article, OTC Markets has already updated the new symbol with the new company name, ‘Clikia Corp.’ We expect a full changeover on all outlets to become effective at any time.
The shift in identity began prior to our last mention of the company here on Street Register, and that was in fact a large part of what we’ve covered for this particular play. It started with the acquisition of a new ‘’Over-the-top (OTT)’ video streaming service aimed at ‘cord-cutters’ back in February, called Clikia. OTT is the term used to describe the delivery of film and TV content via the Internet, without requiring users to subscribe to a traditional cable or satellite pay-TV service.
At the time MK Automotive Inc (OTCMKTS:CLKA) hinted at a change in identity, and our comment was that “there has been nothing to suggest that the company isn’t doing absolutely everything in its power to get the Clikia project off of the ground”. So far, they haven’t disappointed us with the speed at which they’ve accomplished the important step of a name and symbol change.
“Now that our corporate name matches the name of our subscription streaming service, a significant impediment to our operational efficiency has been removed,” said David Loflin, CLKA’s CEO.
In terms of the space to which the company’s newfound direction takes them, there are some big players in the so-called cord-cutting movement. In fact, those include the traditional providers of the very services that people are supposedly cutting the cord from. However, the concept of cord-cutting itself is relatively new, and will only grow in years to come as a whole generation of young people who have never been beholden to cable companies comes of age.
Some estimates place the damage to traditional providers’ profits in the billions per year range, and a up and coming company like Clickia could actually carve out a respectable slice of that pie. That, at least seems like the current forethought of some in the investment community.
The stock has been on a nearly continual climb for the past two months, with just a few minor course corrections along the way. Over that span, MKAU (and now CLKA) has traded up from a low of .008 to as high as .021 per share. That’s a notable increase amounting to 162.5%, while volume has been picking up over the past couple of weeks.
The company also entered into a new $290,000 financing agreement with a privately-held investment company which will permit Clikia to offer a premium streaming package, which is expected to include major Latin channels, and allow for a more aggressive posture in the company’s growth-through acquisition strategy.
While we’re by no means expecting the company topple the likes of a Comcast or Spectrum, nor can they even compete with other cord-cutting solutions such as Chromecast and the like, but they do have a clear cut plan of action to carve out their own niche in the space, and have shown that they are working diligently toward that end.
Follow the CLKA story along with us easily. Just stay locked to Street Register for updates, and we’ll deliver further developments on CLKA as they unfold. In the meantime, if you’ve yet to sign up for our 100% free newsletter, do so now! Just enter your active email address into the box below and submit!
Disclosure: No one at Street Register has been compensated in any way for the publishing of this article, nor do we hold any position in CLKA stock, short or long.