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This board has so few posts, I'll just let this one die and you can move on to the new board. I'd normally change the ticker, but you're already rolling on the new one.
This board is shutting down.
SZI has become XPO. I have started a new board and moved all the info from this one to that one.I will be sending Matt a message in post.Thanks to those that helped get this off the ground and see you on the XPO board.
Updates will be coming to this board.
Segmentz Changes Name to Express-1 Expedited Solutions, Inc.
Tuesday June 6, 8:44 am ET
New Stock Symbol XPO
Board Also Approves Cash Payment for 2006 Earn-Out
BUCHANAN, Mich.--(BUSINESS WIRE)--June 6, 2006--The shareholders at Segmentz May 31st annual meeting overwhelming approved to amend it's Articles of Incorporation to change the company's name to Express-1 Expedited Solutions, Inc. The Board of Directors and management believes the name change will better describe the Company as it has evolved from its restructuring. The company believes that the name change is consistent with its efforts to grow its Expedited Transportation business. The company plans on focusing its resources on Expedited Transportation. The name will leverage the significant marketing efforts that have been undertaken by the Company on behalf of Express-1 and should also provide a better understanding of the Company's mission and strategic vision. The company has also changed its trading symbol on the American Stock Exchange from "SZI" to "XPO".
ADVERTISEMENT
In other action, the board of directors voted to complete the $1,710,000 earn-out payment from 2005, with a cash payment, rather than stock. CFO Mark Patterson said, "Due to our strong cash position we felt it was appropriate to complete the 2005 acquisition earn-out payments with cash, as opposed to the previously intended use of common stock. As you will recall, we committed to issuing approximately 259,000 shares of stock to satisfy the remaining payments related to 2005, earlier in the year. Fulfilling this remaining obligation in cash provides more value to our shareholders, at this time. We will continue to monitor our cash position and make a determination on the remaining acquisition earn-out payments due in 2007 and 2008, as we get closer to those dates."
About Express-1 Expedited Solutions, Inc.
Express-1 provides expedited transportation services to more than 1,000 organizations, ranging from mid-sized companies to the Fortune 500. The Company specializes in same-day and next-day pick up and delivery. To maximize flexibility and minimize overhead, Express-1 maintains a non-asset-based business model and utilizes a fleet of professional, independent owner operators. The Company has a state-of-the-art 24/7 call center utilizing an advanced communications technology and dispatch infrastructure that covers the 48 continental U.S. states and Canada. Express-1 Expedited Solutions , Inc. is publicly traded on the American Stock Exchange under the symbol XPO. For more information about the Company, visit www.express-1.com.
Contact:
Express-1
Jeff Curry, 269-695-4955
jeff.curry@express-1.com
--------------------------------------------------------------------------------
Source: Express-1 Expedited Solutions, Inc.
Express-1 Receives Expediter of the Year Award From Landstar Global Logistics
BUCHANAN, Mich.--(BUSINESS WIRE)--May 17, 2006--Express-1, the primary operating company of Segmentz, Inc. (AMEX:SZI), has received the Expedited Carrier of the Year award for 2005 from Landstar Global Logistics, Inc. at its annual Carrier Conference.
In making the selection, Landstar Logistics surveyed its independent agents who handle expedited shipments. Criteria included on-time performance, equipment availability and condition, sales representation, technology support, and customer responsiveness.
"We are honored to receive this award, and appreciate the recognition of our efforts from a company that is known to be one of the finest in the transportation industry," said Mike Welch, CEO, Express-1. "Landstar agents are industry leaders, and have a variety of needs based on their region and customer base. This award sends our employees and owner operators a signal that they are viewed to be top providers of expedite service. I am proud of our employees and owner operators and we will use this recognition to fuel our motivation to get even better."
Landstar Logistics, together with Landstar Global Logistics, Inc. and Landstar Express America, Inc., comprise Landstar's global logistics group of companies and collectively offer a full menu of transportation and logistics solutions to customers. "We're pleased to recognize the companies with which we have long-standing working relationships, allowing us to deliver safe, reliable transportation services to customers in North America and around the world," said Landstar Global Logistics President Jim Handoush.
About Segmentz, Inc.
Through its primary operating unit - Express-1 - Segmentz, Inc. provides expedited transportation services to more than 1,000 organizations, ranging from mid-sized companies to the Fortune 500. The Company specializes in same-day and next-day pick up and delivery. To maximize flexibility and minimize overhead, Segmentz maintains a non-asset-based business model and utilizes a fleet of professional, independent owner operators. The Company has a state-of-the-art 24/7 call center utilizing an advanced communications technology and dispatch infrastructure that covers the 48 continental U.S. states and Canada. Segmentz, Inc. is publicly traded on the American Stock Exchange under the symbol SZI. For more information about the Company, visit www.express-1.com.
Spencer, Stochcharts wants upgrade to new format for the chart.
Can you update this one please. Thanks.
Andy
Spencer, I'm officially in for 1K at 1.07.
Let's sit back and watch.
Andy
Looks like a long term hold. It should slowly climb as the market coverage expands. If they don't try to expand too quickly and get into financial messes, they should do well. FedEx and UPS took their time and did it well.
I'll park a little here and let it season the soup.
Andy
Cork just look into the future with SZI
i see a swft on the horizon....in years to come.
Spencer, now that this is over $1.00, I am buying in on Monday. Commissions are too high on Fidelity for under $1.00 stocks.
I like continuing growth and profitability. Express shipments are important to the speed of modern business. Shure beats the bicycle messenger. Western Union did good with that once a long time ago in a galaxy far far away.
Andy
Segmentz, Inc. Reports Continued Growth and Profitability in the First Quarter of 2006; Expedited Transportation Revenue Rises 20 Percent; Gross Margin Improves to 25.4 Percent
Segmentz, Inc. (AMEX: SZI) today announced its financial results for the quarter ended March 31, 2006.
For the first quarter of 2006, Segmentz reported revenues of $9.6 million compared with $10.3 million for the first quarter of 2005. This expected decline in revenue reflected the sale of unprofitable, non-core assets and operating units during 2005. The Company's GAAP net income for the first quarter of 2006 was $557,000, or $0.02 per share. This compares with a net loss of $4.65 million, or $0.17 per share, for the first quarter last year, including $3.58 million in restructuring charges. EBITDA for the first quarter of 2006 was $861,000. This compares with an EBITDA loss of $596,000 for the year-ago quarter. Please refer to Table 1 at the end of this news release for a reconciliation of net income, as reported, to EBITDA.
"The Company's first-quarter growth was significantly stronger than the expedited market as a whole in what is typically the most challenging quarter of the year," said Michael Welch, Segmentz, Inc. president and chief executive officer. "Divesting the Company's unprofitable non-core businesses in 2005 has enabled us to focus solely on expedited transportation, and the results were clearly evident in the first quarter of 2006. Our brand awareness and marketing initiatives, along with the outstanding customer service provided by our inside sales team, continued to position us to win new business and increase our activity with existing accounts. During a quarter in which the expedited transportation market faced seasonal challenges, Express-1's operations grew by 21 percent year-over-year and we gained significant market share. Complementing this growth within our Express-1 business, our Evansville operations posted revenue growth of 11 percent as compared to the year-ago quarter."
Segmentz, Inc. Chief Financial Officer Mark Patterson said, "This was an outstanding quarter, operationally and financially. Including both our Express-1 and Evansville operations, combined revenue in our expedited transportation business grew by 20 percent from a year ago. As a result of the aggressive cost reduction initiatives we implemented in 2005, together with increased sales, the Company's gross margin for the first quarter of 2006 improved to more than 25 percent from 19 percent a year ago. All of the Company's other key financial metrics showed significant improvement this quarter, as well."
Additional First-Quarter Financial Information
-- Operating expenses, which consist primarily of payment for owner-operator and partner trucking services, fuel, maintenance and insurance costs, declined to $7.1 million for the first quarter of 2006 from $8.4 million a year earlier.
-- Gross profit for the first quarter of 2006 improved to $2.4 million, or 25.3 percent of total sales, from $2.0 million, or 19.0 percent of total sales, for the first quarter of 2005.
-- Total sales, general and administrative expenses (SG&A) were $1.9 million, down 72 percent from $6.6 million for the first quarter of 2005. Approximately $3.6 million of restructuring charges were recorded in the first quarter of 2005 and are included in SG&A expenses for that period.
-- Reflecting continued positive operating cash flow, Segmentz satisfied its 2005 earnout provisions associated with its Express-1 and Dasher acquisitions through payments totaling approximately $1.5 million and generated from operating cash flows. The Company's debt remained unchanged from year-end levels.
Outlook and Financial Guidance
"The first quarter was a strong start to what promises to be a year of growth and enhanced value for the Company and its shareholders," Welch said. "This is a tribute to a tremendous effort on the part of our employees and owner operators, and they continue to deserve our thanks. Our 2005 Annual Meeting of Shareholders is expected to result in a further significant change for Segmentz. The meeting will be an opportunity for shareholders to approve a proposal to formally change the Company's name from Segmentz to Express-1. As reaffirmed by our performance during the first quarter, we believe the Express-1 brand more accurately reflects our corporate identity, our focus on the expedited business and the brand equity we have built in Express-1 over the past 17 years. Moreover, our Express-1 operations account for approximately 90 percent of our business and will clearly be our main growth driver going forward."
"Our growth strategy will continue to focus on two important objectives: increasing the capacity of our fleet and expanding our market presence so the Company can capture a greater share of the overall market opportunity," Welch said. "Our external and internal sales teams are functioning as a strong engine for growth. At the same time, we expect to have the capacity in terms of independent owner operators to continue satisfying accelerating demand for our services. Attracting and retaining qualified drivers is a critical success factor in our business and an area where Express-1 has long excelled. We also will continue to leverage alliances with third-party carriers to supplement our internal capacity. Looking forward to the second quarter and full year 2006, we are excited by the potential in the expedited transportation business."
Segmentz, Inc. currently expects that revenue for the full year 2006 will be in the range of $39.0 million to $42.0 million, representing approximately 17 to 18 percent growth in the Company's remaining operations. The Company expects full-year net income in the range of $0.10 to $0.12 per share based on its current shares outstanding.
Conference Call/Webcast Information
Management will conduct a conference call this morning at 10:00 a.m. ET to discuss the Company's first-quarter financial results. Those interested in accessing a live or archived webcast of the call should visit the Company's website at http://www.express-1.com. Those wishing to take part in the live teleconference call can dial 201-689-8049 or 877-407-9210. A playback will be available through midnight on May 20, 2006. To listen to the playback, please call 201-612-7415 or 877-660-6853. Use account number 286 and conference ID number 199241.
About Segmentz, Inc.
Through its primary operating unit - Express-1 - Segmentz, Inc. provides expedited transportation services to more than 1,000 organizations, ranging from mid-sized companies to the Fortune 500. The Company specializes in same-day and next-day pick up and delivery. To maximize flexibility and minimize overhead, Segmentz maintains a non-asset-based business model and utilizes a fleet of professional, independent owner operators. The Company has a state-of-the-art 24/7 call center utilizing an advanced communications technology and dispatch infrastructure that covers the 48 continental U.S. states and Canada. Segmentz, Inc. is publicly traded on the American Stock Exchange under the symbol SZI. For more information about the Company, visit www.express-1.com.
Forward-Looking Statements
This press release contains forward-looking statements that may be subject to various risks and uncertainties. Such forward-looking statements are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and are made based on management's current expectations or beliefs as well as assumptions made by, and information currently available to, management. These forward-looking statements, which may include statements regarding our future financial performance or results of operations, including expected revenue growth, cash flow growth, future expenses, future operating margins and other future or expected performance, are subject to the following risks: that our recent reorganization fails to result in projected operating efficiencies; the acquisition of businesses or the launch of new lines of business, which could increase operating expenses and dilute operating margins; increased competition, which could lead to negative pressure on our pricing and the need for increased marketing; the inability to maintain, establish or renew relationships with customers, whether due to competition or other factors; the inability to comply with regulatory requirements governing our business operations; and to the general risks associated with our businesses.
In addition to the risks and uncertainties discussed above you can find additional information concerning risks and uncertainties that would cause actual results to differ materially from those projected or suggested in the forward-looking statements in the reports that we have filed with the Securities and Exchange Commission. The forward-looking statements contained in this press release represent our judgment as of the date of this release and you should not unduly rely on such statements. Unless otherwise required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise after the date of this press release. In light of these risks and uncertainties, the forward-looking events and circumstances discussed in the filing may not occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements.
Use of GAAP and Non-GAAP Measures
In addition to results presented in accordance with generally accepted accounting principles (GAAP), the Company has included "EBITDA", a non-GAAP financial measure. The Company defines EBITDA as earnings before interest, taxes, depreciation and amortization. In addition, the Company excludes from its EBITDA calculation the cumulative effect of a change in accounting principle, discontinued operations, and the impact of restructuring and certain other charges, and includes in the EBITDA calculation selected financial data related to various Company acquisitions. A reconciliation of EBITDA to the most directly comparable GAAP financial measure is set forth herein.
Management believes the use of non-GAAP financial measures provides useful information to investors to assist them in understanding the underlying operational performance of the Company. Specifically, management believes EBITDA is a useful measure of operating performance before the impact of investing and financing transactions, making comparisons between companies' earnings power more meaningful and providing consistent period-over-period comparisons of the Company's performance. The Company uses these non-GAAP financial measures internally to measure its ongoing business performance and in reports to bankers to permit monitoring of the Company's ability to pay outstanding liabilities.
--------------------------------------------------------------------------------
Segmentz, Inc.
EBITDA Reconciliation
(in thousands)
Three Months
Ended
March 31,
-----------------
2006 2005
------- -------
Net income (loss) as reported $ 557 $(4,650)
Income tax (benefit) provision $ - $ -
Interest expense $ 45 $ 24
Depreciation and amortization $ 259 $ 447
Restructuring, exit and consolidation expenses $ - $ 3,583
-------- --------
EBITDA $ 861 $ (596)
Segmentz, Inc.
Consolidated Statements of Operations
(in thousands except per share amounts)
Three Months Ended
-------------------------
March March
2006 2005
----------- -----------
Revenues
Operating revenue $ 9,555 $ 10,349
Expenses:
Operating expenses 7,129 8,378
------------ ------------
Gross profit 2,426 1,971
Sales, general and administrative
expense 1,721 3,009
Restructuring, exit and consolidation
expense - 3,583
------------ ------------
Total sales, general and
administrative expense 1,721 6,592
Other expense 103 5
Interest Expense 45 24
------------ ------------
Income (loss) before income tax provision 557 (4,650)
Income tax (benefit) provision - -
------------ ------------
Net income (loss) $ 557 ($4,650)
=========== ===========
Basic income (loss) per common share 0.02 (0.17)
----------- -----------
Basic weighted average common shares
outstanding 26,465,034 26,705,309
----------- -----------
Diluted income (loss) per common share 0.02 (0.17)
----------- -----------
Diluted weighted average common shares
outstanding 26,520,011 26,705,309
----------- -----------
Segmentz, Inc.
Consolidated Balance Sheets
(in thousands except per share amounts)
March December
31, 31,
2006 2005
------- -------
Assets
Current assets:
Cash and cash equivalents $ 255 $ 386
Accounts receivable, net of allowances of
$744 and $732, respectively 4,683 4,434
Prepaid expenses 258 326
Other current assets 92 77
Deferred tax asset, current 500 500
------- -------
Total current assets 5,788 5,723
Property and equipment, net of accumulated
depreciation 2,173 2,229
Goodwill 3,567 3,567
Identified intangible assets 4,520 4,629
Loans and advances 201 439
Deferred tax asset, long term 1,504 1,504
Other long term assets 379 363
------- -------
$18,132 $18,454
------- -------
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable $ 1,459 $ 924
Accrued salaries and wages 197 397
Accrued expenses, other 1,423 2,721
Current maturities of long term debt 180 242
Other current liabilities 145 97
------- -------
Total current liabilities 3,404 4,381
-------- --------
Line of credit 2,465 1,764
Notes payable and capital leases, net of current
maturities 184 824
Other long-term liabilities 207 199
------- -------
Total long-term liabilities 2,856 2,787
Stockholders' equity:
Preferred stock, $.001 par value; 10,000,000
shares no shares issued or outstanding - -
Common stock, $.001 par value; 100,000,000
shares authorized; 26,465,034 shares issued
and outstanding 26 26
Additional paid-in capital 20,341 20,312
Accumulated deficit (8,388) (8,945)
Treasury stock, at cost, 180,000 shares
held (107) (107)
-------- --------
Total stockholders' equity 11,872 11,286
------- -------
$18,132 $18,454
------- -------
Selected Financial Data
For the three months ended, March 31, 2006
(in thousands)
Evansville Core Segmentz,
Express-1 Dedicated Corporate Business Other Inc.
-------- ---------- --------- --------- ----- ---------
Operating
Revenues $ 8,376 $ 1,179 $ - $ 9,555 $ - $ 9,555
Operating
Expenses 6,090 991 - 7,081 48 7,129
Sales, general
and
administrative
expenses 1,353 160 346 1,859 10 1,869
Restructuring
expenses - - - - - -
------- --------- -------- -------- ---- --------
Net income
(loss) before
provision
(benefit) for
taxes $ 933 $ 28 $ (346) $ 615 $(58) $ 557
======= ========= ======== ======== ==== ========
Restructuring
expenses $ - $ - $ - $ - $ - $ -
Depreciation
and
amortization 212 47 - 259 - 259
Interest
expense, net - - 45 45 - 45
Taxes - - - - - -
------- --------- -------- -------- ---- --------
EBITDA $ 1,145 $ 75 $ (301) $ 919 $(58) $ 861
======= ========= ======== ======== ==== ========
The selected financial data above represents "reporting units" within
the Company. The subtotal entitled "Core Business" represents the
operations remaining after the completion of the restructuring plan,
and is intended only to give the reader the ability to view what are
now our ongoing operations, exclusive of the closed operations. The
column entitled "Other" represents services or location revenue and
expenses that have primarily been eliminated based on the
restructuring plan implemented in the fourth quarter of 2004.
Remaining expense items reflected within this column include real
estate leases, equipment termination costs and impairment charges
associated with equipment and property no longer in use. None of our
reporting units met the quantitative criteria required for segment
reporting.
Segmentz, Inc.
Jeff Curry, 269-695-4955
JeffC@express-1.com
Source: Business Wire (May 12, 2006 - 8:12 AM EDT)
News by QuoteMedia
www.quotemedia.com
From Briefing.Com
08:16 SZI Segmentz reports Q1 results (0.95 )
Co reports Q1 GAAP EPS of $0.02 vs. $0.17 YoY; revs decreased to $9.6 mln from $10.3 mln YoY. For Y06, co expects EPS of $0.10-0.12 and revs of $39-42 mln.
Thanks, I got it on a price alert.
Andy
Yea Cork thats what they need is the CT but seriously Segmentz has been on this year to 18 month restructure and its finally over.....now that they are becoming Express1 i think it should start to grow maybe even be another SWFT.
So, Spence, are they looking at CT for GPS for asset control. THey boldly say that they use the best GPS. That could only be CT.
Get the price stable over a dollar and I might buy in here for a long play.
Andy
hi spence,lack of posters here.just dd'd on profiles.you in this at all?
Segmentz, Inc. to Host First-Quarter Conference Call on May 12
Segmentz, Inc. (AMEX:SZI) today announced it will conduct a conference call to discuss its first-quarter 2006 financial results at 10:00 a.m. ET on Friday, May 12, 2006.
The live and archived call can be accessed on the Company's website at www.express-1.com.
Those wishing to take part in the conference call can dial 201-689-8049 or 877-407-9210. A playback will be available through midnight on May 20, 2006. To listen to the playback, please call 201-612-7415 or 877-660-6853. Use account number 286 and conference ID number 199241.
About Segmentz, Inc.
Through its primary operating unit - Express-1 - Segmentz, Inc. provides expedited transportation services to more than 1,000 organizations, ranging from mid-sized companies to the Fortune 500. The Company specializes in same-day and next-day pick up and delivery. To maximize flexibility and minimize overhead, Segmentz maintains a non-asset-based business model and utilizes a fleet of professional, independent owner operators. The Company has a state-of-the-art 24/7 call center utilizing a world-class communications technology and dispatch infrastructure that covers the 48 continental U.S. states and Canada. Segmentz, Inc. is publicly traded on the American Stock Exchange under the symbol SZI. For more information about the Company, visit www.express-1.com.
Segmentz, Inc.
Jeff Curry, 269-695-4955
JeffC@express-1.com
Source: Business Wire (April 12, 2006 - 9:45 AM EDT)
News by QuoteMedia
www.quotemedia.com
All this work and no one to share it with....sad.
Hope if i ever get some posters
they enjoy the nice work i dont on the board....
SZI pulling back a little today.Insiders need to back up there stock with purchases......but the hard times may be over for good.
BreakDown of Stock PPS Projections
PRICE 1.04, +0.2 pts (+23.8%), Friday, 3 Mar 2006, close
10, excessive up from yesterday's close, expect to pause/stop.
Typical price range from yesterday's close : ± 0.03 pts, ± 2.6%
VOLUME 699.9k shares, +1295% compared to the typical daily volume over the past 6 months.
High Volume alert! Typical daily volume is 50.16k shares over the past 6 months.
Overall Summary A summary of bullish and bearish indicators. Summary Help
Should only be used as a general guide. Please look at the indicators for more detailed understanding.
BULLISH Confirmation - Strong bullish 3 day chart pattern.
BEARISH Probability - Intermediate trend possibly bearish, Sideways trend near upper resistance.
Probability - 1 Day Price change extreme up, may pause/reverse
Probability - Extreme Overbought, odds definitely favor short trades.
Probability - Short term extreme rally, expect rally to pause/stop.
Confirmation - Extreme 3 day accumulation, but when the stock is overbought this is considered bearish.
Confirmation - Extreme bullish 1 day moneyflow, on an strong-extreme rally is considered bearish.
SUMMARY ---- -8,
1 bullish confirmation indicators. Strong Underperform, short term (1-6 wks)
4 bearish probability indicators. 10%, Bullish
2 bearish confirmation indicators. 90%, Bearish
RALLIES/PULLBACKS Typical: 12.5% (0.13 pts) stock price move occurs 25% of the time.
** Current price area Extreme: 16.3% (0.17 pts) stock price move occurs 5% of the time.
Position Indicators Indicators for positioning trade entry and exits. Positioning Help
1 DAY PRICE CHANGE 10, excessive up (+0.2 pts, +23.8%) from yesterdays close, expect to pause/stop.
SHORT TERM DIRECTION 10, extreme rally, expect rally to pause/stop.
OVERBOUGHT/SOLD 10, Extreme Overbought, odds definitely favor short trades.
1 MONTH TREND 6, Up trend.
INTERMEDIATE TREND -5, possibly bearish,
** Past 4 months Sideways trend near upper resistance.
RESISTANCE/SUPPORT 1.04, not at resistance or support
Res/Support Help Resistance Above : None.
Res/Support Movie Support Below : -22.1% at 0.81 ± 0.02, type triple, strength 10
Timing Indicators Indicators for timing trade entry and exits. Timing Help
3 Day Chart Alert analyzes over 120 three day candlestick patterns!
3 DAY CHART ALERT 10, Strong bullish 3 day chart pattern.
10, Extreme 3 day accumulation, occurs 5% of the time.
MONEYFLOW 10, Extreme bullish 1 day moneyflow,
occurs 5% of the time.
BREAKOUT None.
BREAKDOWN None.
Days BackStrong BullishMild BullishNeutralMild BearishStrong Bearish05101525>>Show 2 Day Avg3 Day Chart Alert (over last 25 days)3 Day Chart Alert (2 day avg)
Detailed Chart Chart Movies Tutorial On Candlestick Charts Tutorial 2 Candles: Bullish Bearish Reversal
NewsChart™ - Click on a chart bar for that days stock news. RallyBands™ - Typical and extreme rally/pullback bands.
SmartVolume™ - Removes volume peaks making it easier to read. DualVolume™ - Splits up volume making it easier to view buying and selling.
Top
Targets/Resistance & SupportSZI, 8 Month Detailed ChartChapman Advisory Group ©99-04 Friday, 3 Mar 2006, close
>>ZOOM IN
0.450.550.60.70.750.850.9511.11.151.250.450.50.55067.35k134.7k202k269.4k336.8kTypV00Strong BullishMild BullishNeutralMild BearishStrong Bearish>>2 Day Avg 3 Day Chart Alert (over last 60 days) 3 Day Chart Alert (2 day avg)abcd op:0.81 cl:0.8 sbull 0.56,T,80.62,D,100.67,S,10.7,T+,80.74,T+,100.81,T,1050ma200maT1T2S1S2Strong bullish 3 day chart, 6 month TypV: 50.16kAugSepOctNovDecJanFebMar Price (above) Volume (below) a=875k b=439k c=562k d=699k Up Down
0.650.70.750.850.90.9511.051.151.21.250.650.70.75067.35k134.7k202k269.4k336.8kTypV00Strong BullishMild BullishNeutralMild BearishStrong Bearish0.67,S,10.7,T+,80.74,T+,100.81,T,1050ma200maT1T2S1S2Strong bullish 3 day chart, 6 month TypV: 50.16kAugSepOctNovDecJanFebMar Price (above) Volume (below) a=875k b=439k c=562k d=699k Up Down
DualVolume™
SmartVolume™ NewsChart™ RallyBands™Up VolDown Vol
T1 : Long T1T2 : Long T2S1 : Short T1S2 : Short T2BO : BreakoutBD : Breakdwn Chart Options Update Chart Settings
Click on ">>ZOOM IN" to lock/unlock the chart zoom.
Candlestick Chart: Log Zoom:
Resistance/Support:
Moving Avg1 ( ): (valid range 2..140, 0=off)
Moving Avg2 ( ): (valid range 2..140, 0=off)
Price: 1.04, not at resistance or support.
1 Day: 10, excessive up (+0.2 pts, +23.8%)
Direction: 10, extreme rally.
Typical rally/pullback: 0.13 pts Extreme: 0.17 pts
Overbought/sold: 10, Extreme Overbought.
Month Trend: 6, Up trend.
Top
Resistance & Support Areas Over the past 8 months. Resistance/Support Movie Resistance/Support Help
Type: Number of times a stock has stopped at a resistance/support area, the more times the stronger the area.
Stength: Amount of volume occuring at resistance/support areas, the higher the more significant the area.
CURRENT PRICE 1.04, not at resistance or support
RESISTANCE ABOVE None.
SUPPORT BELOW -22.1% at 0.81 ± 0.02, type triple, strength 10
-28.8% at 0.74 ± 0.02, type triple+, strength 10
-32.7% at 0.7 ± 0.02, type triple+, strength 8
-35.6% at 0.67 ± 0.02, type single, strength 1
-40.4% at 0.62 ± 0.02, type double, strength 10
-46.2% at 0.56 ± 0.01, type triple, strength 8
Upside Trade Trade indicators for long trades. Upside Trade & Breakout Help
Upside ReCalc™ : Adjust the upside trade & breakout parameters. ( Stock Price: 1.04 )
TRADE QUALITY 30%, Poor
Good trade quality is a combination of good profit, profit/loss ratio and target potential.
TARGET 1 Price: 0.86 Profit: 0% , There has been a strong rally and the current stock price has exceeded Target 1.
Stop Limit/Trailing Stop Limit: 1 Loss: 3.8%
Profit/Loss Ratio: 0 : 1 - Poor
TARGET 1 POTENTIAL Excellent, there are 0 resistance areas on the way to Target 1.
Stocks may quickly rise to Targets when there are not many resistance areas blocking the way.
TARGET 2 Price: 0.9 Profit: 0% , There has been an Extreme rally and the current stock price has also exceeded Target 2.
BREAKOUT None.
Downside Trade Trade indicators for short trades. Downside Trade & Breakdown Help
Downside ReCalc™ : Adjust the downside trade & breakdown parameters. ( Stock Price: 1.04 )
TRADE QUALITY 100%, Excellent
TARGET 1 Price: 0.86 Profit: 17.3% , for a typical pullback.
Cover Limit/Trailing Cover Limit: 1.08 Loss: 3.8%
Profit/Loss Ratio: 4.6 : 1 - Excellent
TARGET 1 POTENTIAL Excellent, there are 0 support areas on the way to Target 1.
Stocks may quickly fall to Targets when there are not many support areas blocking the way.
TARGET 2 Price: 0.81 Profit: 22.1% , Profit/Loss Ratio: 5.8 : 1 - Excellent for an extreme pullback.
BREAKDOWN None.
Insider Trades
Buy(P) /
Sell(S) P/S date Filed Date Company Symbol Insider Relationship Share Amt. Unit Price Total Proceeds Shares Owned Return(1m) Details
S 2006-03-03 2006-03-03 18:21:17 SEGMENTZ INC SZI BARRON PARTNERS LP 10% owner 25,000 $0.95 $23,750.00 2,565,920 view
S 2006-02-24 2006-03-02 12:59:18 SEGMENTZ INC SZI MARSHALL ALLAN 10% owner 83,000 $0.75 $62,250.00 2,596,220 view
S 2006-02-01 2006-02-13 15:14:11 SEGMENTZ INC SZI MARSHALL ALLAN 10% owner 200,000 $0.71 $142,400.00 2,697,220 view
S 2005-11-30 2005-12-02 12:27:05 SEGMENTZ INC SZI MARSHALL ALLAN 10% owner 64,400 $0.72 $46,368.00 3,087,880 5.56% view
S 2005-11-24 2005-11-30 10:36:21 SEGMENTZ INC SZI MARSHALL ALLAN 10% owner 50,000 $0.74 $37,000.00 3,077,880 8.11% view
S 2005-10-04 2005-10-05 19:27:13 SEGMENTZ INC SZI BARRON PARTNERS LP 10% owner 104,700 $0.91 $95,277.00 2,616,170 24.18% view
S 2005-10-05 2005-10-05 19:27:13 SEGMENTZ INC SZI BARRON PARTNERS LP 10% owner 25,244 $0.90 $22,719.60 2,590,920 23.33% view
S 2005-08-25 2005-08-26 14:22:39 SEGMENTZ INC SZI BARRON PARTNERS LP 10% owner 3,800 $0.60 $2,280.00 2,720,870 0.00% view
P 2005-08-23 2005-08-25 15:58:52 SEGMENTZ INC SZI Welch Mike CEO 75,000 $0.59 $44,250.00 160,000 1.69% view
S 2005-08-23 2005-08-24 16:47:40 SEGMENTZ INC SZI BARRON PARTNERS LP 10% owner 78,000 $0.59 $46,020.00 2,724,670 -1.69% view
P 2005-08-23 2005-08-23 15:05:06 SEGMENTZ INC SZI Dorris Jennifer F director 5,000 $0.59 $2,950.00 5,000 1.69% view
S 2005-08-18 2005-08-22 15:28:42 SEGMENTZ INC SZI BARRON PARTNERS LP 10% owner 82,100 $0.62 $50,902.00 2,804,570 0.00% view
S 2005-08-19 2005-08-22 15:28:42 SEGMENTZ INC SZI BARRON PARTNERS LP 10% owner 1,900 $0.62 $1,178.00 2,802,670 1.61% view
P 2005-05-17 2005-05-17 18:53:09 SEGMENTZ INC SZI Welch Mike director officer (President) 50,000 $0.51 $25,500.00 85,000 1.96% view
P 2005-05-17 2005-05-17 18:52:02 SEGMENTZ INC SZI MARSHALL ALLAN director 10% owner 50,000 $0.50 $25,000.00 3,202,880 4.00% view
P 2005-04-07 2005-04-11 16:13:36 SEGMENTZ INC SZI MARSHALL ALLAN CEO 25,000 $0.98 $24,500.00 3,152,880 -23.47% view
P 2005-04-07 2005-04-11 14:20:09 SEGMENTZ INC SZI MARSHALL ALLAN CEO 25,000 $0.98 $24,500.00 3,152,880 -23.47% view
P 2004-12-10 2004-12-20 13:48:35 SEGMENTZ INC SZI MARSHALL ALLAN CEO 40,000 $1.11 $44,200.00 3,127,880 5.88% view
P 2004-12-15 2004-12-17 10:30:02 SEGMENTZ INC SZI Welch Mike director officer (President) 35,000 $1.14 $39,900.00 35,000 22.81% view
Form 8-K for SEGMENTZ INC
--------------------------------------------------------------------------------
3-Mar-2006
Change in Directors or Principal Officers
ITEM 5.02 DEPARTURE OF DIRECTOR OR PRINCIPAL OFFICER; ELECTION OF DIRECTORS; APPOINTMENT OF PRINCIPAL OFFICERS
Mark Patterson, the Company's Chief Financial Officer, has been appointed to the Company's Board of Directors to fill the vacancy left by the resignation of Robert Gries from the Board of Directors in November 2005
Press Release Source: Segmentz, Inc.
Segmentz, Inc. Meets High End of Guidance
Friday March 3, 7:30 am ET
Generates Record Net Income in the Fourth Quarter of 2005
Board of Directors Approves Name Change to Express-1
BUCHANAN, Mich.--(BUSINESS WIRE)--March 3, 2006--Segmentz, Inc. (AMEX: SZI - News) today announced its financial results for the fourth quarter and year ended December 31, 2005.
ADVERTISEMENT
For the fourth quarter of 2005, Segmentz, Inc. reported revenues of $9.7 million compared with $13.9 million for the fourth quarter of 2004. The year-over-year decline in revenue resulted from the sale of unprofitable, non-core assets and operating units during 2005. For the fourth quarter of 2005, the Company reported record GAAP net income of approximately $600,000, or $0.02 per share. This compares with a net loss of approximately $2.2 million, or $0.08 per share, for the comparable period in 2004. EBITDA for the fourth quarter of 2005 was approximately $910,000. This compares with an EBITDA loss of approximately $440,000 for the year-ago quarter. Please refer to Table 1 at the end of this news release for a reconciliation of net income, as reported, to EBITDA.
"Our continued growth and record net income for the fourth quarter marked a significant milestone for us," said Michael Welch, Segmentz, Inc. president and chief executive officer. "These results demonstrate that we have emerged from an extended period of restructuring as a solid and profitable organization. Our outstanding employees have worked tirelessly to execute this turnaround and deserve all the credit."
Welch continued, "Our expedited transportation services are in high demand, and we continued to capitalize on this trend during the fourth quarter. We generated growth at Express-1 compared with the fourth quarter of 2004, a significant accomplishment given the surge in sales we experienced in the year-ago period. We also benefited from a steady stream of business from our Evansville operation."
Segmentz, Inc. Chief Financial Officer Mark Patterson said, "Through an aggressive restructuring plan spanning several quarters, we significantly lowered our expense levels. These cost reductions, coupled with the continued growth of our Express-1 operation, helped us enhance margins and deliver strong EBITDA for the fourth quarter. In addition, after two years of net losses, Segmentz generated a record level of net income in the final quarter of 2005. These are clear indications of the strength of our business model and operating leverage."
Additional Fourth-Quarter Financial Information
Operating expenses, which consist primarily of payment for owner operator and partner trucking services, fuel, maintenance and insurance costs, were approximately $7.0 million for the fourth quarter of 2005. These expenses declined by approximately 34 percent from $10.5 million in the fourth quarter of 2004 primarily as a result of the Company's restructuring initiatives.
Gross profit for the fourth quarter of 2005 was approximately $2.7 million, or 28.3 percent of total sales. This is a significant improvement from 24.5 percent of sales in the corresponding quarter of 2004, which is the result of the Company's focus on its more profitable lines of business.
Total sales, general and administrative expenses were approximately $2.1 million, down 69 percent from $6.9 million for the fourth quarter of 2004, again reflecting the Company's streamlined cost structure and the sale of unprofitable, non-core operating units.
During the fourth quarter of 2005, Segmentz leveraged its positive operating cash flow to pay down its line of credit from approximately $2.5 million on September 30, 2005 to approximately $1.8 million on December 31, 2005.
For full year 2005, Segmentz, Inc. reported total revenues of $39.8 million. This compares with the Company's guidance for revenues in the range of $38.5 million to $40.0 million and with full-year 2004 revenues of $42.5 million. This year-over-year decline is the direct result of the Company's strategic sale of unprofitable, non-core assets and operating units. For 2005, the Company reported a GAAP net loss of approximately $5.8 million, or $0.22 per share, which includes approximately $4.4 million in restructuring charges. This compares with a net loss of approximately $3.2 million, or $0.14 per share, for full year 2004. EBITDA for 2005 was positive by approximately $255,000, in line with the Company's guidance for positive EBITDA. This compares with an EBITDA loss of approximately $1,211,000 for 2004. Please refer to Table 1 at the end of this news release for a reconciliation of net income, as reported, to EBITDA.
"The year 2005 was one of significant change for Segmentz," Welch said. "We began the year with a diverse line of business units, a lack of strategic focus and a tenuous financial outlook. Under the leadership of a new management team and the guidance of our Board of Directors, we executed an aggressive strategy to right-size the business and focus on our main growth driver, namely Express-1. This was the key to our turnaround, and I believe we are only beginning to unlock the value at our Company."
Corporate Name Change
The Company also announced today that its Board of Directors has approved a proposal to change the corporation's name from Segmentz, Inc. to Express-1 Expediting. This name change is subject to approval from shareholders at the upcoming annual meeting of shareholders, which is expected to be held on May 31, 2006. If approved by shareholders, the Company is expected to also change its trading symbol on the American Stock Exchange.
"We have successfully transformed this organization into a highly focused and financially sound expedited transportation company," continued Welch. "Given Express-1's stellar brand recognition and its strong reputation in the industry, management and our Board of Directors believe that this is a natural evolution for the Company and a positive change for its shareholders."
Board of Directors Appointment
At its meeting on February 28, the Board of Directors also appointed CFO Mark Patterson as a new director. He replaces Robert Gries, who has stepped down from the Board in November 2005.
"Mark has done an outstanding job guiding our finance organization since joining the company in 2005," said Chairman Jim Martell. "We believe that he will be a valuable asset to the Board based on his extensive financial and industry expertise."
Outlook and Financial Guidance
"Express-1 is positioned well in the rapidly expanding expedited transportation services market," Welch stated. "We have built a sizeable and diversified customer base that provides us with a strong recurring revenue base. We also are executing well on the sales side by generating business with a number of new accounts.
"Our current fleet of professional, independent owner operators provides us with the capacity that we need to meet our growth objectives for 2006. We will continue our aggressive hiring efforts, however, to maximize our growth potential. We also will continue to leverage alliances with third-party carriers to supplement our internal capacity. This should enable Express-1 to continue its growth and enhance its profitability for the foreseeable future," Welch concluded.
Segmentz, Inc. currently expects that revenue for the full year 2006 will be in the range of $39.0 million to $42.0 million, representing approximately 17 percent to 18 percent growth in the Company's remaining operations. The Company expects full-year net income in the range of $0.10 to $0.12 per share based on its current shares outstanding.
Conference Call/Webcast Information
Management will conduct a conference call this morning at 10:00 a.m. ET to discuss the Company's fourth-quarter financial results. Those interested in accessing a live or archived webcast of the call should visit the Company's website at http://www.express-1.com. Those wishing to take part in the live teleconference call can dial 201-689-8049 or 877-407-9210. A playback will be available through midnight on March 11, 2006. To listen to the playback, please call 201-612-7415 or 877-660-6853. Use account number 286 and conference ID number 191630.
About Segmentz, Inc.
Through its primary operating unit - Express-1 - Segmentz, Inc. provides expedited transportation services to more than 1,000 organizations, ranging from mid-sized companies to the Fortune 500. The Company specializes in same-day and next-day pick up and delivery. To maximize flexibility and minimize overhead, Segmentz maintains a non-asset-based business model and utilizes a fleet of professional, independent owner operators. The Company has a state-of-the-art 24/7 call center utilizing a world-class communications technology and dispatch infrastructure that covers the 48 continental U.S. states and Canada. Segmentz, Inc. is publicly traded on the American Stock Exchange under the symbol SZI. For more information about the Company, visit www.express-1.com.
Forward-Looking Statements
This press release contains forward-looking statements that may be subject to various risks and uncertainties. Such forward-looking statements are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and are made based on management's current expectations or beliefs as well as assumptions made by, and information currently available to, management. These forward-looking statements, which may include statements regarding our future financial performance or results of operations, including expected revenue growth, cash flow growth, future expenses, future operating margins and other future or expected performance, are subject to the following risks: that our recent reorganization fails to result in projected operating efficiencies; the acquisition of businesses or the launch of new lines of business, which could increase operating expenses and dilute operating margins; increased competition, which could lead to negative pressure on our pricing and the need for increased marketing; the inability to maintain, establish or renew relationships with customers, whether due to competition or other factors; the inability to comply with regulatory requirements governing our business operations; and to the general risks associated with our businesses.
In addition to the risks and uncertainties discussed above you can find additional information concerning risks and uncertainties that would cause actual results to differ materially from those projected or suggested in the forward-looking statements in the reports that we have filed with the Securities and Exchange Commission. The forward-looking statements contained in this press release represent our judgment as of the date of this release and you should not unduly rely on such statements. Unless otherwise required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise after the date of this press release. In light of these risks and uncertainties, the forward-looking events and circumstances discussed in the filing may not occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements.
Use of GAAP and Non-GAAP Measures
In addition to results presented in accordance with generally accepted accounting principles (GAAP), the Company has included "EBITDA", a non-GAAP financial measure. The Company defines EBITDA as earnings before interest, taxes, depreciation and amortization. In addition, the Company excludes from its EBITDA calculation the cumulative effect of a change in accounting principle, discontinued operations, and the impact of restructuring and certain other charges, and includes in the EBITDA calculation selected financial data related to various Company acquisitions. A reconciliation of EBITDA to the most directly comparable GAAP financial measure is set forth herein.
Management believes the use of non-GAAP financial measures provides useful information to investors to assist them in understanding the underlying operational performance of the Company. Specifically, management believes EBITDA is a useful measure of operating performance before the impact of investing and financing transactions, making comparisons between companies' earnings power more meaningful and providing consistent period-over-period comparisons of the Company's performance. The Company uses these non-GAAP financial measures internally to measure its ongoing business performance and in reports to bankers to permit monitoring of the Company's ability to pay outstanding liabilities.
GAAP Reconciliation
Segmentz, Inc.
EBITDA Reconciliation
Three Months Ended Year Ended
December 31, December 31,
------------------------------------------------
2005 2004 2005 2004
--------- ------------ ------------ ------------
Net income (loss) as
reported $597,000 $(2,151,000) $(5,815,000) $(3,238,000)
Income tax (benefit)
provision $- $(1,320,000) $- $(1,921,000)
Interest expense $53,000 $32,000 $187,000 $126,000
Depreciation and
amortization $260,000 $431,000 $1,435,000 $1,254,000
Restructuring, exit
and consolidation
expenses $- $2,568,000 $4,448,000 $2,568,000
--------- ------------ ------------ ------------
EBITDA $910,000 $(440,000) $255,000 $(1,211,000)
Segmentz, Inc.
Statements of Operations
Three Months Ended Year Ended
-----------------------------------------------
December December December December
31, 31, 31, 31,
2005 2004 2005 2004
---------- ----------- ----------- -----------
Revenues
Operating revenue $9,698,000 $13,931,000 $39,848,000 $42,481,000
Expenses:
Operating expenses 6,954,000 10,517,000 30,852,000 34,320,000
---------- ----------- ----------- -----------
Gross profit 2,744,000 3,414,000 8,996,000 8,161,000
Sales, general and
administrative
expense 2,094,000 4,373,000 10,176,000 10,714,000
Restructuring, exit
and consolidation
expense - 2,568,000 4,448,000 2,568,000
---------- ----------- ----------- -----------
Total sales, general
and administrative
expense 2,094,000 6,941,000 14,624,000 13,282,000
Other expense - (88,000) - (88,000)
Interest Expense 53,000 32,000 187,000 126,000
---------- ----------- ----------- -----------
Income (loss) before
income tax provision 597,000 (3,471,000) (5,815,000) (5,159,000)
Income tax (benefit)
provision - (1,320,000) - (1,921,000)
---------- ----------- ----------- -----------
Net income (loss) $ 597,000 $(2,151,000)$(5,815,000)$(3,238,000)
========== =========== =========== ===========
Basic loss per common
share 0.02 (0.08) (0.22) (0.14)
---------- ----------- ----------- -----------
Basic weighted average
common shares
outstanding 26,305 26,888 26,524 23,936
---------- ----------- ----------- -----------
Diluted loss per common
share 0.02 (0.08) (0.22) (0.14)
---------- ----------- ----------- -----------
Diluted weighted
average common shares
outstanding 26,319 26,888 26,524 26,936
---------- ----------- ----------- -----------
Segmentz, Inc.
Balance Sheet
December December
31, 31,
2005 2004
----------- -----------
Assets
Current assets:
Cash and cash equivalents $ 386,000 $ 854,000
Accounts receivable, net of allowance
for doubtful accounts of $732,000 and
$966,000 for 2005 and 2004,
respectively 4,434,000 7,522,000
Prepaid expenses 326,000 988,000
Other current assets 577,000 1,538,000
----------- -----------
Total current assets 5,723,000 10,902,000
Property and equipment, net of accumulated
depreciation 2,229,000 4,120,000
Goodwill 3,567,000 2,634,000
Identified intangible assets 4,629,000 6,196,000
Loans and advances 439,000 131,000
Other long term assets 1,867,000 1,082,000
----------- -----------
$18,454,000 $25,065,000
------------ -----------
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable $ 924,000 $ 2,081,000
Accrued salaries and wages 397,000 644,000
Accrued expenses, other 2,721,000 2,670,000
Line of credit - short term portion - 1,183,000
Short-term portion of long-term debt 242,000 480,000
Other current liabilities 97,000 130,000
----------- -----------
Total current liabilities 4,381,000 7,188,000
----------- -----------
Notes payable and capital leases 824,000 559,000
Line of credit - long term portion 1,764,000 -
Other long-term liabilities 199,000 16,000
----------- -----------
Total long-term liabilities 2,787,000 7,763,000
Stockholders' equity:
Preferred stock, $.001 par value;
10,000,000 shares no shares issued or
outstanding - -
Common stock, $.001 par value;
100,000,000 shares authorized;
26,730,034 shares issued and
outstanding 26,000 27,000
Additional paid-in capital 20,312,000 20,405,000
Treasury Stock (107,000) -
Accumulated deficit (8,945,000) (3,130,000)
----------- -----------
Total stockholders' equity 11,286,000 17,302,000
----------- -----------
$18,454,000 $25,065,000
Contact:
Segmentz, Inc.
Jeff Curry, 269-695-4955
JeffC@express-1.com
--------------------------------------------------------------------------------
Source: Segmentz, Inc.
Moderator: dimonfind
Assistants: None
Created: 12/13/2004 11:59:41 AM
Reg Technologies, Inc. Announces Companies' Profile to Be Aired on National and International Television
09:00 EST Thursday, December 09, 2004
Last Updated: 13 Dec 2004
Rolling 52 Week High 0.650
Rolling 52 Week Low 0.130
Total Number of Shares 22,379,181
Shares in Escrow 93,750
Net Shares Outstanding 22,285,431
Float Quoted Market Value 12,034,133
VANCOUVER, British Columbia--(CCNMatthews - Dec 9, 2004) -
Reg Technologies, Inc. (TSX Venture Exchange:RRE)(OTCBB:REGRF) is pleased to announce that Reg Technologies, Inc./REGI U.S., Inc. company profile will be aired on Investment Television, a Millennium Media Television Enterprises Ltd. program. The airings in Eastern Standard Time are as follows:
Global - Ontario Regional Sunday, December 12 at 12:00pm EST
Broadcast
----------------------------------------------------------------------
Prime - National Broadcast Sunday, December 12 at 7:00pm EST
----------------------------------------------------------------------
Wednesday, December 15 at 4:00pm EST
Friday, December 17 at 5:00pm/
CNBC World - International 12:00am EST
Broadcast Saturday, December 18 at
7:00am/2:00pm/9:00pm/4:00am EST
Sunday, December 19 at 11:00am/
4:00pm EST
----------------------------------------------------------------------
Canadian Learning Television - Tuesday, December 14 at 1:00pm/
National Broadcast 4:30am EST
Saturday, December 18 at 1:00pm EST
----------------------------------------------------------------------
REGI U.S., Inc. owns the U.S. rights and the parent company Reg Technologies, Inc. owns the worldwide rights to the Rand Cam(TM) rotary technology. The engine is a light weight rotary engine that has only two moving parts: the vanes (up to 12) and the rotor, compared to the 40 moving parts in a simple four-cylinder piston engine. This revolutionary design makes it possible to produce a total of 24 continuous power impulses per one rotation that is vibration-free and extremely quiet. The Rand Cam(TM) engine also has multi-fuel capabilities and is able to operate using fuels including natural gas, hydrogen, propane and diesel. Reg Technologies, Inc., together with REGI U.S., Inc., is in the process of testing a Rand Cam(TM) diesel engine for a generator application for hybrid electric cars. Additionally, our licensee for the 42 H.P. production model diesel Rand Cam(TM) is currently completing the engine for unmanned aerial applications for the U.S. military. For more information please visit www.regtech.com.
ON BEHALF OF THE BOARD OF DIRECTORS
John Robertson
President
The TSX Venture Exchange has neither approved nor disapproved of the information contained herein. Statements in this press release regarding Reg Technologies/REGI's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties, including the impact of competitive products and pricing, the need to raise additional capital, uncertain markets for the Company's products and services, the Company's dependence on third parties and licensing/service supply agreements, and the ability of competitors to license the same technologies as the Company or develop or license other functionally equivalent technologies.
FOR FURTHER INFORMATION PLEASE CONTACT:
REGI U.S., Inc.
John Robertson, 800-665-4616
Reg Technologies, Inc. Announces License Rights for Worldwide Patents for The Rand Cam Technology Completed
09:00 EST Monday, November 29, 2004
VANCOUVER, British Columbia--(CCNMatthews - Nov 29, 2004) -
Reg Technologies, Inc. (TSX VENTURE:RRE) (OTCBB:REGRF) is pleased to announce that a worldwide license agreement, excluding the rights for the United States of America that are held by REGI U.S., Inc. (OTCBB:RGUS), for the Rand Cam(TM) technology has been successfully completed with Rand Energy Group Inc. Reg Technologies, Inc. has agreed to pay a 5% net profit interest and make annual payments of $50,000. Reg Technologies, Inc. will be responsible for 50% of the costs for development and production of the Rand Cam(TM) technology.
The worldwide patents cover Canada and several countries in Europe, namely, Germany, France, Great Britain, and Italy. Reg Technologies, Inc., together with REGI U.S., Inc., is in the process of testing a Rand Cam(TM) diesel engine for a generator application for hybrid electric cars. Additionally, our licensee for the 42 H.P. production model diesel Rand Cam(TM) is currently completing the engine for unmanned aerial applications for the U.S. military.
Reg Technologies, Inc. owns 3,320,000 shares of REGI U.S., Inc. directly, and 3,900,000 indirectly through a 51% ownership of Rand Energy Group Inc.
REGI U.S., Inc. owns the U.S. rights and the parent company Reg Technologies, Inc. owns the worldwide rights to the Rand Cam(TM) rotary technology. The engine is a light weight rotary engine that has only two moving parts: the vanes (up to 12) and the rotor. This revolutionary design makes it possible to produce a total of 24 power impulses per one rotation. For more information please visit www.regtech.com.
ON BEHALF OF THE BOARD OF DIRECTORS
"John Robertson"
John Robertson
President
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