Atrinsic, Inc. (PINK:ATRN) has traded as high as $.093 during today�s trading session and last traded at $.0915 for a gain of 40.77% from yesterday�s close, which is a total gain of over 374.09% from my 1.4 alert at $.0193! ATRN traded as high as $1.05 over the past 52 weeks, which is over 90% off that high at last traded stock price.�Get my next ALERT 100% FREE
On January 23, 2012, Atrinsic, Inc. completed the sale of certain short codes, domain names, trademarks and databases used in the Company’s subscription businesses to Mkono Media Corp., a British Columbia corporation (“Mkono”), pursuant to an asset purchase agreement by and between the Company and Mkono dated as of December 28, 2011. The transaction resulted in net cash proceeds to the Company of $615,000 USD.
Atrinsic, Inc. is a marketer of direct-to-consumer subscription products, including Kazaa, and an Internet search-marketing agency. Kazaa is a subscription-based digital music service that gives users unlimited access to millions of CD-quality tracks. Unlike other music services that charge you every time a song is downloaded, Kazaa allows users to listen to and explore as much music as they want for one monthly fee, without having to pay for every track or album.
Royalties are paid to the rights� holders for licenses to the music utilized by this digital service. Atrinsic and Brilliant Digital Entertainment, Inc. jointly offer the Kazaa digital music service pursuant to a Marketing Services Agreement and a Master Services Agreement between the two companies.
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