Hardman and Company Initiates Research Coverage on Destiny Media Technologies

Sep 13, 2011, 13:11 ET from Hardman and Company

VANCOUVER, Sept. 13, 2011 /PRNewswire/ - Hardman & Co is pleased to announce that it will be initiating research coverage on Destiny Media Technologies.

Destiny Media is quoted on the Toronto Venture Exchange (DSY-TSXV), and has additional share quotes on the Frankfurt and Stuttgart exchanges in Germany and on the US OTC (DSNY-OTCQX). It has a market capitalisation of $20m. It is probably the world market leader in the electronic distribution of new music to radio stations worldwide. International markets are now following the lead of the USA in distributing new music tracks to radio stations electronically rather than by post or courier delivered CD.

Destiny Media is profitable, has net cash, and expenses its R & D spend as incurred.

"We hope to have produced a comprehensive research document on Destiny Media Technologies by the end of September," said a Hardman & Co spokesman. "This will include revenue, earnings and forward cash flow estimates. The estimates will remain live for at least twelve months and should give the financial community confidence that this company will be kept under constant scrutiny by a third party."

EDITORS' NOTE

Hardman & Co is a leading financial research house based in the City of London. It has been established for 15 years and has a worldwide readership of professional investment managers, sovereign wealth funds and private client wealth managers. It currently researches companies in every continent except Antarctica. It makes independent, but corporately funded, financial and commercial trading estimates and commentary available to the worldwide professional financial marketplace. Hardman & Co receives no remuneration for movements in share price, and neither the company nor any of its analysts hold stock or warrants in any company that is researched.

SOURCE Hardman and Company