0001144204-17-036370.txt : 20170711 0001144204-17-036370.hdr.sgml : 20170711 20170711060214 ACCESSION NUMBER: 0001144204-17-036370 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20170711 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20170711 DATE AS OF CHANGE: 20170711 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AUDIOEYE INC CENTRAL INDEX KEY: 0001362190 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372] IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-177463 FILM NUMBER: 17959031 BUSINESS ADDRESS: STREET 1: 5210 E. WILLIAMS CIRCLE STREET 2: SUITE 750 CITY: TUCSON STATE: AZ ZIP: 85711 BUSINESS PHONE: 866-331-5324 MAIL ADDRESS: STREET 1: 5210 E. WILLIAMS CIRCLE STREET 2: SUITE 750 CITY: TUCSON STATE: AZ ZIP: 85711 8-K 1 v470593_8k.htm FORM 8-K

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

 

WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

 

Date of Report (Date of earliest event reported): July 11, 2017

 

AUDIOEYE, INC.

 

DELAWARE 333-177463 20-2939845
(State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.)

 

5210 E. Williams Circle, Suite 750

Tucson, Arizona 85711

(Address of principal executive offices)

 

(866) 331-5324

(Registrant’s telephone number, including area code)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (See General Instruction A.2. below):

 

☐ Written communications pursuant to Rule 425 under the Securities Act of 1933 (17 CFR 230.425)

 

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

☐ Pre-commencement communications pursuant to Rule 13e-4(e) under the Exchange Act (17 CFR 240.13e-4(c))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

  

 

 

 

  Item 2.02 Results of Operations and Financial Condition

 

On July 11, 2017, AudioEye, Inc. (“AudioEye” or the “Company”) issued a press release announcing that it has increased its cash contract bookings outlook for 2017 to a range of $5.5 million to $6.5 million. The Company previously stated that it anticipates cash contract bookings of $4.0 million to $6.0 million for 2017.

 

AudioEye also announced its preliminary first half cash contract bookings stand in excess of $3.2 million. The Company also announced that it continues to experience a 99% renewal rate among existing subscription customers.

 

A copy of the press release is furnished herewith as Exhibit 99.1.

 

 

 

 

  Item 9.01 Exhibits

 

  Exhibit 99.1 Press Release dated July 11, 2017.

 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Date: July 11, 2017   AUDIOEYE, INC.  
       
       
  By: /s/ Todd Bankofier  
    Todd Bankofier, Chief Executive Officer  

 

 

 

 

Index to Exhibits

 

Exhibit No.   Description
     
99.1   Press Release dated July 11, 2017.

 

 

 EX-99.1 2 v470593_ex99-1.htm EXHIBIT 99.1

AudioEye Raises 2017 Bookings Outlook to $5.5 to $6.5 Million

TUCSON, Ariz., July 11, 2017 /PRNewswire/ -- AudioEye, Inc. (OTCQB: AEYE) ("AudioEye" or the "Company") today announced that it has increased its cash contract bookings outlook for 2017 to a range of $5.5 million to $6.5 million. The Company previously announced a range of $4.0 million to $6.0 million in cash contract bookings. This compares to cash contract bookings of $1.9 million for 2016.

Dr. Carr Bettis, Executive Chairman of AudioEye, stated, "Preliminary first half cash contract bookings stand in excess of $3.2 million, driven by rapidly expanding demand for our Digital Accessibility Platform and Ally Managed Service. We continue to see strong growth in new client bookings, a 99% renewal rate among existing subscription customers and further acceleration of inbound sales calls as companies increasingly turn to AudioEye for digital accessibility solutions. Perhaps most importantly, demand in our consumer and education verticals has begun to increase significantly, in addition to our strong positions in government, human resources and financial services, giving us further confidence in our rapidly expanding growth opportunities."

AudioEye previously announced that its qualified new business pipeline remains in excess of $6.4 million, compared to approximately $2.3 million as of the end of the second quarter of 2016.

Todd Bankofier, CEO of AudioEye, said, "Companies are increasingly turning to AudioEye's industry-leading technology driven solutions instead of the traditionally complex, time-consuming and expensive consulting solutions. As a result, we are seeing solid and increasing demand for our SaaS-based accessibility solutions. We provide not only the industry's fastest and most cost effective path to conformance with the Web Content Accessibility Guidelines (WCAG) 2.0 AA standards, but also a documented business ROI opportunity through increased interaction with up to 15% of our customers' target audiences."

About AudioEye, Inc.

AudioEye's software enables every enterprise, from corporations to government agencies, to make their content more consumable through technology.

More accessible. More usable. More people.

AudioEye's common stock trades on the OTCQB under the symbol "AEYE." The Company maintains offices in Tucson, Atlanta and Washington, D.C. For more information about AudioEye and its online accessibility solutions, please visit https://www.audioeye.com.

Forward-Looking Statements

Any statements in this press release about AudioEye's expectations, beliefs, plans, objectives, prospects, financial condition, assumptions or future events or performance are not historical facts and are "forward-looking statements" as that term is defined under the federal securities laws. These statements are often, but not always, made through the use of words or phrases such as "believe", "anticipate", "should", "intend", "plan", "will", "expects", "estimates", "projects", "positioned", "strategy", "outlook" and similar words. You should read the statements that contain these types of words carefully. Such forward-looking statements are subject to a number of risks, uncertainties and other factors that could cause actual results to differ materially from what is expressed or implied in such forward-looking statements, including the risk that the Company's bookings will not increase as currently expected or at all. There may be events in the future that AudioEye is not able to predict accurately or over which AudioEye has no control. Other risks are described more fully in AudioEye's filings with the Securities and Exchange Commission. Forward-looking statements reflect management's analysis as of the date of this press release and AudioEye urges you not to place undue reliance on these forward-looking statements. AudioEye does not undertake any obligation to release publicly any revisions to such forward-looking statements to reflect events or uncertainties after the date hereof or to reflect the occurrence of unanticipated events.

For Further information, please contact:

Matt Kreps
Darrow Associates Investor Relations
(512) 696-6401
mkreps@darrowir.com

David Kovacs
Strategic Advisor
AudioEye, Inc.
(520) 308-6143