The company's board of Directors has approved adjustments to the company's financial year

The Sky Network (NASDAQ:MOBI) announced today that the company's board of Directors has approved adjustments to the company's financial year, adjusting the deadline for each financial year from March 31 to December 31, and starting from December 31, 2014.

In addition, the Skye Network announced that the company's board of directors also approved the next 12 months up to 20 million U.S. dollars in ads shares repurchase program. The cut-off date for this project is May 30, 2015.

Skye Network adjusts the financial year to start and start time is to improve the financial performance and the industry's comparability, and the company's earnings cycle and calendar year to maintain consistent, so as to provide a more consistent chain of comparison information.

On the stock repurchase project, the Skye network plans to buy back the tickets through open markets, negotiated deals and other ways in line with U.S. securities laws. The timing of stock buybacks will depend on management decisions and a range of factors, including stock prices, market conditions and regulatory requirements. The Skye network is entitled to limit, terminate or enlarge the stock repurchase items at any time without prior notice.