Business
Monaker Group Files Annual Report on Form 10K for Fiscal 2016
Monaker Group Files Annual Report on Form 10K for Fiscal 2016.
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[{"type":"text","content":"\n \n \n Monaker Group Files Annual Report on Form 10K for Fiscal 2016\n \n \nMonaker Group Files Annual Report on Form 10K for Fiscal 2016\n\nPositioned for Growth & Revenue Acceleration\n\n \n WESTON, FL--(Marketwired - Jun 23, 2016) -  Monaker Group (OTCQB: MKGI), a technology driven travel company focused on the alternative lodging rental (\"ALR\") market, today announced the filing of its Form 10K for the year-ended February 29, 2016 and representing the business evolution of Monaker Group (\"Monaker\" or the \"Company\"). The 10K can be accessed and viewed on the Company's website (www.monakergroup.com) under \"Financial Information,\" as well as on the SEC's website (www.sec.gov).\n Monaker began strategically positioning itself to accelerate travel sales in late 2015 through Maupintour.com websites, which focuses on luxury tours sold individually and as components of dynamically assembled packaged travel vacations and trips. Monaker's Maupintour subsidiary has a 65-year history of arranging activities and tours for a growing base of travelers. The division revenue increased by 66% last year and continues to build strength, with first months of 2016 having already surpassed its performance for the entire year of 2015.\n Monaker's balance sheet has immensely improved in 2016 with its assets more than doubling while its current liabilities reduced from $12.1 million as of last year to a very manageable balance of $3.03 million.\n Since January 2016, Monaker has focused resources on the build out of product, partnerships and technology platforms to position its ALR listings and ancillary travel products as its core business. \"With the rapid increase in ALR inventory and the development of the next generation NextTrip.com platform, Monaker is in a stronger position to effectively compete and excel in the vast and lucrative alternative lodging market,\" stated Bill Kerby, Chairman and CEO of Monaker.\n In February 2016, Monaker introduced a beta of its new travel platform under the NextTrip brand. During the last 10 weeks, Monaker's management focused its resources towards bringing to market the next generation of its NextTrip platform, which will launch in the near term. The launch will bring to market the significant integration progress of the over 1.1 million ALR listings under contract and thousands of unus...