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2 nice white candles, every indicator pointing up, nice to see the RSI is still under 30 despite a 58% gain in 2 days, noice...
Well, the chart is looking better all signs are pointing up... either the reversal will continue tomorrow, or it retreats back to .0012ish before it really goes, as we were discussing. Either way, it has the potential to test a penny again soon, IMO...
I'm in a bit higher than I would like, almost bought more today. Looks like it may have found bottom, although another high volume day and a test of the .0012-.0015 area may be on the horizon before they run it...
This company just filed chapter 7, but the volume and sharp price decrease may provide a little bounce here soon...
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Nayna Networks and WICE-NET, Ltd. Announce US$12 Million Network Solutions Agreement
Monday May 8, 10:15 am ET
Initial Purchase Orders Totaling US$7 Million Received
SANTA CLARA, Calif. and MUMBAI, India, May 8, 2006 (PRIMEZONE) -- Nayna Networks, Inc. (OTC BB:NAYN.OB - News), a provider of next-generation network solutions headquartered in Santa Clara, California, USA, and WICE-NET, Ltd., a provider of broadband access services in the India subcontinent and Africa, today announced they have finalized an agreement through which Nayna will be the exclusive network systems solutions and equipment provider for WICE-NET's triple-play broadband access deployments.
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WICE-NET is currently moving forward with a project in Africa and has associations/partnerships with major Indian carriers to provide solutions.
Under the terms of the agreement, Nayna will provide advanced equipment for WICE-NET installations, including solutions using Ethernet and SDH-based technologies. Monitoring and control will be done by Nayna's versatile and standards-based element management system ``AN NetCharmer'. Nayna will also provide WICE-NET with necessary network design, network planning and optimization services, and technical support to enable the deployment of multimedia services in a cost-effective manner with optimal Operating Expenditure (OPEX).
The total value of the agreement is expected to be US$12 million over the next twelve months. To supply its requirements in Africa and India, WICE-NET has given Nayna initial purchase orders valued at US$7 million.
``By working with Nayna, WICE-NET can seamlessly integrate the various equipment technologies with effective management required for our broadband networks,' said Balasahab Kadam, chairman of WICE-NET. ``Nayna is recognized as a leader in FTTH and SDH technologies and their expertise will allow WICE-NET to deliver our solutions to our customers more efficiently.'
``We are pleased to be the network solutions provider for WICE-NET's installations,' said Suresh Pillai, Vice President of Nayna Networks, Inc. and Managing Director, India operations. ``WICE-NET has an innovative plan to deliver cost-effective broadband access to areas such as Africa and India and we are excited to be a part of their solution.'
About WICE-NET
WICE-NET provides an innovative and advanced broadband access mechanism through an intelligent Metropolitan Area Network with capacity to deliver multiple services at affordable cost which is beyond the reach of existing technologies.
About Nayna Networks, Inc.
Nayna Networks, Inc. delivers next-generation network solutions. More information is available at http://www.nayna.com/.
In addition, all shareholders and interested parties are invited to sign into our private Corporate Guest Book at http://www.CorporateGuestBook.com/?NAYN to receive timely updates and information on future developments.
Forward Looking Statements
This press release contains forward-looking statements which are subject to safe harbors created under the U.S. federal securities laws. These statements include, among others, statements relating to the market for network solutions services and IT infrastructure management services, forecast revenue relating to sales of Nayna's products and services, and the timeframe during which Nayna expects to receive these revenues. Statements regarding future events are based on the parties' current expectations and are necessarily subject to associated risks related to, among other things, WICE-NET 's ability to continue its deployments in Africa and India, Nayna's ability to supply products and services to WICE-NET, and whether, and how quickly, the market for network solutions services and IT infrastructure management services develops and evolves as anticipated. Therefore, actual results may differ materially and adversely from those expressed in any forward-looking statements. For more information regarding Forward Looking Statements and related risks, see the ``Risk Factors' section of Nayna's filings with the SEC. The company undertakes no obligation to revise or update any forward-looking statements for any reason. All products or services mentioned in this document are trademarks, service marks, registered trademarks or registered service marks of their respective owners.
Contact:
Nayna Networks, Inc.
Jim Connor
408-956-8000 x831
jim@nayna.com
