Blackbird PLC (OTCMKTS:BBRDF) Stock In Focus After Latest News

Technology licensor, developer and seller of cloud native video editing products Blackbird PLC (OTCMKTS:BBRDF) provided a major new update last Friday which investors ought to look into.

Trading Data

On Friday, BBRDF stock ended flat at $0.1135 with more than 1.20K shares, compared to its average volume of 433 shares. The stock moved within a range of $0.1135 – 0.1135 after opening trade at $0.1135.

Notice of termination of contract

The company announced that A&E Television Networks LLC had provided Blackbird with a notice with regards to the termination of the contract it had with the company. The contract would end at the end of June this year. While the announcement was a significant one, it should be noted that the value of the contract made up less than 10% of the company’s total revenues at the end of the fiscal year on December 31, 2022.

The Chief Executive Officer of the company Ian McDonough spoke about the development as well. He noted that while the management was disappointed at the termination of the contract by A&E Television Networks, the Americas remained one of the core focus areas for Blackbird as a company.

He noted that the company was also following up on considerable interest that had been generated at the NAB industry trade show held last month. He went on to add that the company remained funded with 9 million British pounds in cash.