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ACIE SEC Suspension:
http://www.sec.gov/litigation/suspensions/2013/34-70784.pdf
Order:
http://www.sec.gov/litigation/suspensions/2013/34-70784-o.pdf
Admin Proceeding:
http://www.sec.gov/litigation/admin/2013/34-70785.pdf
watching for further developments, if they happen. ACIE
probably less than 200,000 free trading shares
latest O/S: 1,238,051 shares ,most of which belong to the CEO and president
Champion Entertainment Signs Stephen Baldwin to THE COSTUME SHOP
Champion Entertainment Announces Its Newest Family Movie
HOUSTON, TX, September 10, 2012 – Champion Entertainment, Inc. ("Champion"), a family and faith based film Production Company producing award winning films since 1993 with offices in Houston and Hollywood announced the signing of Stephen Baldwin to help finalize the completion of Champion's next movie. Kurt Neubauer, Chief Executive Officer and Executive Producer--made the announcement. THE COSTUME SHOP was originally shot in 2000, but never released. Champion intends to convert the film to Blu-ray and re-cut the film adding Stephen Baldwin’s part as a principal cast member to complete the film for a theatrical release in 2013.
“The movie is about a young girl, Rebecca, who wants to borrow the family car for the evening when her father (Stephen Baldwin) decides that before she can take it she must listen to him tell her about some experiences that he had when he was in high school… "Kurt Neubauer said briefly outlining the plot."
Kurt continued, “Through a flashback sequence young Jessica (Haylie Duff), is given a job by her Aunt (Shelley Duvall) in the Costume Shop she owns. As Jessica learns the ins and outs of the family business, strange events begin to take place. The costumes seem to have a power to transport one to places where things are not exactly normal.
“Trying it herself, she is thrown into a situation making her choose between right and wrong. After her choice Jessica involves her friends in these 'dreams' without much success.”
The film stars, Stephen Baldwin as an older Kyle (Born of the Fourth of July, The Young Riders, The Usual Suspects), Haylie Duff as Jessica (Napoleon Dynamite), Shelley Duvall as Aunt Nellie (The Shining), James Holzier as Kyle, (Willie the Hit Man), Kara Houston as Nicole (Judging Amy) and Vanessa Lee Chester as Sara (Jurrasic Park 2), written by Carolyn Clark Johnston and directed by Bob Willems.
Stephen Baldwin
Haylie Duff
Shelly Duvall
James Holzier
More than Movies
Champion’s movies entertain audiences with G rated family and faith based films. Champion decided on a change in direction to family and faith based films after it became obvious that too few productions were available to entertain the entire family audience. Recent articles from Variety, http://www.variety.com regarding the need for G rated films that families can attend and watch has, according to Variety.com, "studios and advertisers alike focusing on 'uplifting entertainment', a term that offers connotations of quality, talent-driven content with a positive worldview and without much explicit language, sex and violence.
Additional filming of THE COSTUME SHOP should be completed by late fall 2012 in Houston. The film has already received a distribution offer and will be offered for further distribution through Champion Entertainment’s distribution division, United Film Distribution.
About Champion Entertainment, Inc.
Founded by Bob Willems in 1993, Champion Entertainment Inc. develops, produces and distributes compelling family and faith based content for the film and television industry. A full service production company, production services for television, full length motion pictures, music videos, commercials and infomercials, CGI animation, visual effects, and graphics, new media production for corporate clients including live webcasts, streaming media, interactive and multi-platform media. Champion Entertainment has offices/studios in Houston, Texas and Hollywood California at Sunset Gower Studios.
Sign up for our behind the scenes notifications. Be on top of the latest news and happenings for Champion Entertainment and see online videos of our upcoming productions being produced. Click Here for Behind The Scenes.
To learn more, visit:
• THE COSTUME SHOP www.thecostumeshop-themovie.com
• THE COSTUME SHOP (Press Kit) Press_Kit-CS.html
• Champion Entertainment www.championentertainment.com
• United Film Distribution www.unitedfilmdistribution.com
• CEI-Talent Management www.cei-talent.com
CONTACTS:
Kürt E Neübauer 713-522-4701 Kurt@championentertainment.com
Bob Willems 713-522-4701 Bob@championentertainment.com
CEI - Houston 713-522-4701 info@championentertainment.com
Sunset Gower 888-351-3755 Hollywood@championentertainment.com
CHAMPION ENTERTAINMENT APPOINTS PATRICK T McSHERRY AS EVP OF BUSINESS DEVELOPMENT
"Champion Entertainment Ads a Strong Piece to the Puzzle," Says Kurt Neubauer, CEO”
HOUSTON, TX, September 7, 2012 – Champion Entertainment, Inc. ("Champion"), a family entertainment film production company producing award winning films since 1993 with offices in Houston and Hollywood, announced today the appointment of Patrick T. McSherry as Executive Vice President of Business Development of the Company, effective September 16, 2012. Mr. McSherry will focus primarily in mergers and acquisitions and production financing.
Prior to joining Champion Entertainment, Mr. McSherry enjoyed a distinguished twenty plus year career of academic and progressive financial and Wall Street industry experience which he now brings to Champion Entertainment. Mr. McSherry, a recognized industry leader, began his career on Wall Street as a fixed income specialist. He has worked with the Stock Exchange of Hong Kong and the Shenzhen Exchange in China as a consultant for the introduction of derivative instruments to their equity markets. He has trained and advised brokers and regulators in Singapore, Taiwan, London, Brazil and Canada.
Mr. McSherry has also served in the capacity of Financial Advisor, Branch Manager, as well as Options Principal, General Principal and Municipal Principal. Over the past 20 years, Mr. McSherry has worked with top financial advisors and high-net-worth clients around the world to deliver wealth management and distribution strategies.
Mr. McSherry’s past employment reads like a Wall Street who’s who with firms such as Rydex/SGI where acting as senior director he was part of introducing the first liquid alternative mutual funds into the retail brokerage space. He was Vice President, Sales Director for Mass Mutual building out their third party distribution channels. He served as Vice President and Regional Coordinator for Prudential Financial where he was responsible for packaged product sales in both wire house and independent channels for California, Arizona and New Mexico. He was Executive Director of Asian Markets for Dearborn Financial Institute increasing market revenues by 310%. Patrick was also a guest lecturer at the Stock Exchange of Hong Kong.
Mr. McSherry’s extensive financial education started with a Bachelor of Arts Degree from Skidmore College in Saratoga Springs, New York in 1989. He holds the CMFC designation from the College of Financial Planning. He holds the following FINRA Licenses: Series 24, 4, 53, 7, 65, 6 and 63.
In addition to his financial and Wall Street business acumen, Mr. McSherry serves on the Board of Trustees at The Country School, a private school in Los Angeles and actively participates in nonprofit endeavors such as the American Cancer Society and The Above the Curve Theatre Company.
“After considerable review and due diligence of Champion Entertainment and its CEO, Kurt Neubauer, I am extremely impressed,” stated Mr. McSherry. He continued, “Bringing back the historic studio business model, Champion Entertainment is bringing a discipline and structure back to an industry which has been missing that compass for over 70 years. The market potential for their family and faith based films is proven. I look forward to being a part of this expansion as Champion scales it resources to increase it's profit and presence in the marketplace. The firm has a rich history of creating, producing and distributing quality product for 19 years, my goal is to provide a conduit to the public to be a part of this entertainment firm as it grows.
Champion’s CEO, Mr. Neubauer stated, "Patrick brings a depth and breadth of knowledge and business acumen to the Company, particularly in the areas of finance and business development. His background will blend well with the studio and operational experience of the existing management team. Patrick understands the Company’s desires to bring family and faith based films back to an audience hungry for entertainment that they can experience with the entire family. to. I believe Patrick’s experience in corporate finance will make a major contribution in achieving the financing that Champion will need in producing its current upcoming slate of films as well as the future. We are very pleased to have him join our senior management team during this exciting period of growth in the company's history.”
About Champion Entertainment, Inc.
Founded by Bob Willems in 1993, Champion Entertainment Inc. develops, produces and distributes compelling family content for the film and television industry. A full service production company, production services for television, full length motion pictures, music videos, commercials and infomercials, CGI animation, visual effects, and graphics, new media production for corporate clients including live webcasts, streaming media, interactive and multi-platform media. Champion Entertainment has offices/studios in Houston, Texas and Hollywood California at Sunset Gower Studios.
To learn more, visit:
Sign up for our behind the scenes notifications. Be on top of the latest news and happenings for Champion Entertainment and see online videos of our upcoming productions being produced. Click Here for Behind The Scenes.
• Champion Entertainment www.championentertainment.com
• United Film Distribution www.unitedfilmdistribution.com
• CEI-Talent Management www.cei-talent.com
CONTACTS:
Kürt E Neübauer 713-522-4701 Kurt@championentertainment.com
Bob Willems 713-522-4701 Bob@championentertainment.com
CEI - Houston 713-522-4701 info@championentertainment.com
Sunset Gower 888-351-3755 Hollywood@championentertainment.com
TEXAS-BASED CHAMPION ENTERTAINMENT OPENS
HOLLYWOOD OFFICE
"California Here We Come," Says Bob Willems, President, Champion Entertainment
HOUSTON, TX, Aug 30, 2012 – Champion Entertainment, Inc. ("Champion"), a Houston-based film production company producing award winning films since 1993 announced today the opening of a Hollywood Branch office to have an ongoing presence in the entertainment capital of the world.
Champion’s Office is located on the Sunset-Gower Studio lot in Hollywood. The opening of the office is part of Champion Entertainment’s plans to expand in the independent film development, production and distribution arena.
“While many companies, have moved from the Hollywood area, we believe that having a presence in the heart of the entertainment business is essential for our planned growth”, stated Champion’s Chief Execute Officer, Kürt Neübauer. "Our plans include making several independent films over the next 3 years and having the Hollywood office will help faciliate those plans." Although Champion Entertainment’s corporate headquarters is to remain in Houston, the Hollywood office will begin expanding the company’s base into talent management, distribution, new media and entertainment based investment opportunities.
Champion is set to roll out its complete business operation plan in the next few weeks. “These are exiting times for the entertainment business and Champion is set to become a major player as an independent Studio” added Neübauer.
About Champion Entertainment, Inc.
Founded by Bob Willems in 1993, Champion Entertainment Inc. develops, produces and distributes compelling family and faith based content for the film and television industry. A full service production company, production services for television, full length motion pictures, music videos, commercials and infomercials, CGI animation, visual effects, and graphics, new media production for corporate clients including live webcasts, streaming media, interactive and multi-platform media. Champion Entertainment has offices/studios in Houston, Texas and Hollywood California at SunSet Gower Studios.
To learn more, visit:
Sign up for our behind the scenes notifications. Be on top of the latest news and happenings for Champion Entertainment and see online videos of our upcoming productions being produced. Click Here for Behind The Scenes.
• Champion Entertainment www.championentertainment.com
• United Film Distribution www.unitedfilmdistribution.com
• CEI-Talent Management www.cei-talent.com
CONTACTS:
Kürt E Neübauer 713-522-4701 Kurt@championentertainment.com
Bob Willems 713-522-4701 Bob@championentertainment.com
CEI - Houston 713-522-4701 info@championentertainment.com
Sunset Gower 888-351-3755 Hollywood@championentertainment.com
merger with Champion Entertainment, Inc.
8K:
Item 1.01 Entry into a Material Definitive Agreement.
On November 29, 2012, Acies Corporation (the “ Company ”), Champion Entertainment, Inc., a private Texas corporation (“ Champion ”), Oleg Firer, the Company’s President and Director, Steven Wolberg, the Company’s Director and Chief Strategy Officer (Mr. Firer and Mr. Wolberg, collectively, the “ Sellers ”) and Kurt Neubauer, the Chief Executive Officer of Champion, entered into a Capital Stock Exchange Agreement (the “ Exchange Agreement ”).
Pursuant to the Exchange Agreement, on the closing date (the “ Closing ”), which is subject to the Closing Conditions, described below, the Company will exchange 81,003,000 shares of its restricted common stock for 100% of the outstanding common stock of Champion, the result of which will be that Champion will become a wholly-owned subsidiary of the Company and the shareholders of Champion will become our majority common stock shareholders. The Company also agreed to assume 4,500,000 warrants to purchase shares of common stock at an exercise price of $1.00 per share held by Champion in connection with the Closing. The Exchange Agreement also prohibited the shareholders of Champion and Mr. Neubauer (as the holder of the Series A Preferred Stock (as discussed below)) from affecting a reverse stock split of the Company for 18 months following the Closing, without the written consent of the Sellers. Except for dilution in connection with the issuance of shares to the Champion shareholders in connection with the Exchange, the securities that the shareholders of the Company hold prior to the Exchange Agreement will not be affected by the transactions contemplated therein.
Immediately following the Closing, the Sellers have agreed to cancel all of the outstanding stock options and derivative securities they hold or have rights to in consideration for 7,303,709 shares of common stock to be issued to Mr. Firer and 7,583,334 shares of common stock to be issued to Mr. Wolberg.
reverse merger after being a shell for five(?) years...
been so long here, gotta DD my DD, lol
MBOT
nothing new here since last year, interesting, how did I get this one, gotta read below...
MBOT
in all i inserted today, biggest spread so far. Acies Corporation (ACIE)
0.0201 ? 0.0 (0.00%)
Volume: -
Bid Ask Day's Range
0.0202 1.16 - - -
ACIE Detailed Quote
doing some looking here...
MBOT
here we go.
cha, cha changes...
MBOT
ok, when do you guys start learning how to trade and make money? just minutes before close yesterday i sold one round lot for 1.85 @ask. now you kick 2 MMs off the bid with two 100 share trades for 1.01... HELLO??? do you need your sixpack pennies so urgently?
that´s why i don´t have multiple accounts with the same broker.
just got this from Lowtrades (Legent clearing firm).
I was wondering why one account received the shares, and the other didn't. I've never seen this happen before.
"Per the Transfer Agent: the number of shares to be request for rounding the client’s holding to the minimum of 100 shares should be determined at the beneficial owner level and not at the account level. Multiple accounts with the same beneficial owner were not able to be submitted separately and as a result the client is only entitled to receive additional shares to make their holding across all accounts equal 100 shares. The additional shares received from the TA were allocated to the first account listed with Legent belonging to this client. The account receiving the shares may be held by another sub other than your firm that is also a client of Legent."
I keep checking the l2 but the spread is way above the last sale here. waiting ofr a sign now. lol
The key is to get in on the ground floor. I printed out a list of 2000 OTC stocks and I am going through the one's nobody seems to have on radar. Thanks
They have many filings today and have not had time to read them all.
Something is up for sure here.
Do you still see a R/S?
Reverse split on the way>
11/20/2009 4:35PM Initial Statement of Beneficial Ownership (3)
09/25/2009 6:04AM Current report filing (8-K)
09/24/2009 6:03AM Information Statement - All Other (definitive) (DEF 14C)
09/10/2009 4:52PM Information Statements (revised) (PRER14C)
this stock is so under value its due for a run
is anyone following this stock?
Someone asked on the last CC what revenue it would take to make ACIE break-even -- the CFO replied 3.75M.
Well, this is the biggest historical volume ever, ~775k so far.
It took about ~200k to take out SBSH at .075, and another ~500k to move PBLC from .078 to .079. Someone (PBLC) wants to sell a lot of shares, but, for a change, someone else wants them.
Acies Corporation Reports 83% Increase in Revenues for 2007 Fiscal First Quarter
Acies Corporation Reports 83% Increase in Revenues for 2007 Fiscal First Quarter; Continued Revenue Growth and Strict Expense Discipline Leads to 55% Decline in Net Losses
NEW YORK--(Business Wire)--Aug. 15, 2006--
Conference Call and Web Cast Scheduled for
Thursday, August 17 at 4:15 P.M. Eastern
Acies Corporation (OTCBB: ACIE), a financial services company specializing in providing payment processing and online banking services to small, medium and large-size merchants across the United States, today announced its fiscal first quarter results for the three months ended June 30, 2006.
Financial and Operational Highlights for the Three Months Ended June 30, 2006 Compared to the Three Months Ended June 30, 2005:
-- Revenues increased 83% to $3,013,179, up from $1,648,521 a
year ago. On a sequential quarter-over-quarter basis, revenues
rose 16% when compared to $2.6 million reported for the fiscal
fourth quarter ended March 31, 2006.
-- G&A expenses totaled $474,012, representing 16% of total
revenues, compared to $462,809, or 28% of total revenues in
the prior year period.
-- Net loss declined 55% to $87,997, or $0.00 basic and diluted
loss per share, from a net loss of $195,338, or $0.00 basic
and diluted loss per share, in the first quarter of fiscal
2006.
Oleg Firer, President and CEO of Acies, stated, "The 2007 fiscal year is off to a very strong start. By remaining focused on increasing merchant processing revenues while maintaining vigilant control over expenses, Acies once again delivered another quarter marked by record revenue and a material drop in our net losses. Successful implementation of our sales and marketing programs continues to drive organic growth of our national merchant portfolio through our steadily expanding direct and ISO channels. As we advance through the 2007 fiscal year, we expect that this proven strategy will persist in promoting opportunities for greater growth in coming quarters and help us to achieve our ultimate objectives - positive cash flow and consistent profitability."
Firer continued, "The Acies brand is fast becoming synonymous with top quality, comprehensive payment processing solutions and superior customer service, and is serving to build a very strong foundation of loyal customers and strategic partners. Through a continuation of focused, creative marketing and sales initiatives, we remain confident that fiscal 2007 will prove to be a defining year for Acies."
Acies will host a teleconference Thursday afternoon, August 17, 2006, beginning at 4:15 PM Eastern, and invites all interested parties to join management in a discussion regarding the Company's financial results, corporate progress and other meaningful developments. The conference call can be accessed via telephone by dialing 1-866-770-7051 and entering the passcode 13620852, or via the Internet at www.aciesinc.com. For those unable to participate at that time, a replay of the web cast will be available for 90 days on www.aciesinc.com.
About Acies Corporation (pronounced "ay-see-us")
Headquartered in New York City, Acies Corporation is a financial services company that, through its wholly owned subsidiary, Acies, Inc., specializes in providing payment processing and online banking services to small, medium, and large-size merchants across the United States. Acies' payment processing services enable merchants to process Credit, Debit, Electronic Benefit Transfer (EBT), Check Conversion, and Gift & Loyalty transactions. Acies also offers traditional and next-generation point-of-sale (POS) terminals, which enable merchants to utilize Acies' payment processing services. Acies' banking services offer customers traditional banking services and the ability for customers to apply for an online bank account and pay bills electronically. For more information, visit http://www.aciesinc.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This press release contains or may contain forward-looking statements such as statements regarding the Company's growth and profitability, growth strategy, liquidity and access to public markets, operating expense reduction, and trends in the industry in which the Company operates. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in the Company's filings with the Securities and Exchange Commission, including the risk factors in its form 10-KSB for the year ended March 31, 2006. The Company assumes no obligation to update these forward-looking statements to reflect actual results, changes in risks, uncertainties or assumptions underlying or affecting such statements, or for prospective events that may have a retroactive effect. -0- *T
ACIES CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
Three Months Ended June 30, 2006 and 2005
2006 2005
------------ ------------ Net revenues $ 3,013,179 $ 1,648,521 Cost of revenues 2,613,404 1,354,051
------------ ------------ Gross margin 399,775 294,470
General, administrative and selling 474,012 462,809 Stock-based compensation 13,760 -
------------ ------------
Operating loss (87,997) (168,339)
Loss on extinguishment of debt - (28,453) Interest expense - (1,000) Interest income - 2,454
------------ ------------
Net loss $ (87,997) $ (195,338)
============ ============
Basic and Diluted net loss per share $ (0.00) $ (0.00) Weighted average shares outstanding 50,819,832 48,055,207
ACIES CORPORATION
CONSOLIDATED BALANCE SHEETS
(Unaudited)
June 30, March 31,
2006 2006 ASSETS Current Assets
Cash $ 28,893 $ 124,804
Accounts receivable, net 1,041,812 926,647
------------ ------------
Total current assets 1,070,705 $ 1,051,451
Prepaid assets and deposit 44,550 41,042
Fixed assets, net of accumulated
depreciation of $14,193 and $11,672 27,994 30,515
Merchant terminal equipment, net of
accumulated depreciation of $ 49,230 and
$30,471 175,881 158,712
------------ ------------
Total Assets $ 1,319,130 $ 1,281,720
============ ============
LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities
Accounts payable $ 1,023,152 $ 904,762
Accrued expenses 140,000 160,000
Merchant equipment deposits 18,216 13,959
------------ ------------
Total current liabilities 1,181,368 1,078,721
Deferred rent and other obligations 33,839 33,839
------------ ------------
Total Liabilities $ 1,215,207 $ 1,112,560
------------ ------------
Commitment and contingencies Shareholders' Equity
Common stock, $.001 par value, 200,000,000
shares authorized, 51,048,978 and
50,563,751 shares issued and outstanding 51,049 50,564
Additional paid in capital 4,574,189 4,517,414
Deferred stock compensation (117,000) (82,500)
Accumulated deficit (4,404,315) (4,316,318)
------------ ------------
Total shareholders' equity 103,923 169,160
------------ ------------
Total Liabilities and Shareholders'
Equity $ 1,319,130 $ 1,281,720
============ ============ *T
Elite Financial Communications Group Dodi Handy, 407-585-1080 acie@efcg.net
> There were quite a few interested people asking
> questions on the conference call. Were you one of them?
No, I didn't ask any questions. I was surprised that there
was actually a queue, usually these CCs for obscure pennies
end with, "No questions? OK. Thank you for listening." lol.
On the CC, the CFO seemed Manic-Bullish, although when
cornered about "guidance" he would only talk about "trends"...
I actually learned a few new things from the CC...which is
unusual when compared to most penny CCs. :)
Dang!!!
There were quite a few interested people asking questions on the conference call. Were you one of them?
Timing
CC
Just got around to listening to the conference call from last Thurs. Granted, every CC is bent toward pumping the stock, but management is clearly bullish on the future of ACIES. I am holding for a while...perhaps adding on weakness.
Timing
ITEM 6. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION
OVERVIEW
We, through our subsidiary Acies, Inc. are principally engaged in the business of delivering payment processing solutions to small, medium and large size merchants across the United States. We are a registered member service provider of JP Morgan Chase Bank and a Strategic Partner of Paymentech, LP. Acies' payment processing services enable merchants to process Credit, Debit, Electronic Benefit Transfer (EBT), Check Conversion, and Gift & Loyalty transactions. As part of its overall solutions, Acies also offers traditional and next-generation point-of-sale (POS) terminals, which enable merchants to utilize Acies' payment processing services.
Through our experience in payment processing, infrastructure planning and equipment deployment, we provide our merchants, both through our direct sales force as well as through Independent Sales Agents ("Sales Agents") and Independent Sales Organizations ("ISO’s"), with what we believe is fast and reliable merchant payment processing, and point of sale systems to enable payment processing. We attempt to deliver the best solutions for transaction processing services to support small to large-scale businesses.
We take a consultative approach in reviewing and evaluating a merchant’s transaction processes to determine the best solution, installing and testing the equipment, providing processing services, training the merchant’s employees, and providing on-going customer service by being the primary point of contact for questions, issues and service problems.
Our payment processing services enable merchants to accept both traditional card-present, including "swipe" and contactless transactions, as well as card-not-present transactions made by Internet or by mail, fax or telephone. Our processing services include acceptance and underwriting of merchants, detection of fraudulent transactions, receipt and settlement of funds and service and support.
We outsource certain services to third parties, including the receipt and settlement of funds. In addition, we outsource for a fee certain underwriting and acceptance functions, effectively insuring against the risk of merchant fraud. Through these arrangements, we attempt to maintain an efficient operating structure which allows us to expand our operations without having to significantly increase fixed costs or retain certain risks associated with acceptance and underwriting of merchant accounts.
We derive the majority of our revenues from fee income related to transaction processing, which is primarily comprised of a percentage of the dollar amount of each transaction processed, as well as a flat fee per transaction. The fee income is generally based on pricing we negotiate and set on a merchant-by-merchant basis, limited primarily by competitive forces. Revenues are driven by revenue from our existing portfolio of merchant accounts, the addition of new merchant accounts, pricing negotiated with merchants, and general consumer spending habits resulting from economic factors and the availability of consumer credit.
Our cost of revenues is comprised of interchange and association fees which are paid to the card-issuing bank and card association, and fees paid to third parties that have provided outsourced services. The fees are based upon fixed pricing schedules, which are subject to periodic revision, and are without regard to the pricing charged to the merchant.
For our fiscal years ended March 31, 2006 and March 31, 2005, we had a net loss of $(903,310) and $(3,341,095), respectively. We expect to continue to incur significant losses. Our operating expenses have been, and are expected to continue to be, greater than our revenues, and result in significant losses in the near term. We may never be able to reduce these losses, in which case we would be required to seek additional debt or equity financing which may result in the dilution of our existing shareholders’ interest. We can give no assurance that financing will be available, or available on terms favorable to us or our investors. If such financing were not available, we may be forced to liquidate a portion of our merchant account portfolio, or to cease operating as a going concern.
We have incurred losses and experienced negative operating cash flow each year since we have become a public reporting company in April 2002. For our fiscal years ended March 31, 2006 and March 31, 2005, we had a net loss of $(903,310) and $(3,341,095), respectively, and we have had negative operating cash flow of $(605,510) and $(887,232), respectively.
We expect to continue to incur significant expenses. To date, our operating expenses have exceeded revenues resulting in substantial losses as we attempt to grow our business in the near term. We may never be able to reduce these losses, however, subject to continued revenue growth, we anticipate our operating results to substantially improve over the next twelve months. Beginning in the fourth quarter of fiscal 2006, we generated positive cash flow from operations due to the increased revenue. We anticipate this trend to continue over the next twelve months.
Revenue is ~2X when comparing Q4_05 to Q4_06, but we may be a Q or two "too early".
Numbers are out.
Not very impressive -- revenues down, more shares printed, and expenses are up. It will be hard to do positive spin on these.
Looks like:
2.57M rev
-316k loss
And "As of June 21, 2006, the registrant had 51,048,978 shares of common stock, $0.001 par value per share, outstanding."
485k @ ~.083 so far ?
WoW....Brave!
I control 25k shares....holding for numbers.
Timing
b/t/w...if you don't mind my asking, what leads you to a strong belief that God does not exist? (if you don't like talking about it, forget I asked)
Timing,
The filing should be out any day now. Although the Company's
results are approaching break-even, the Q that ends in Dec.
is their strongest due to the Holiday Season. Still, I'm
expecting break-even soon...
I've been buying a lot of shares this past month as well, but
there seem to be some strong sellers as well -- I'm one of the
guys supporting the lowered Bid on the big sell days. I've got
485k @ ~.083 so far.
Best Regards
n.b. I agree, Timing is everything.
Very close...
I started buying a couple weeks ago...small position.
Looking forward to the numbers coming soon...tomorrow?
Last year's 10k was issued on June 29.
If the numbers are good, load time!
Who cares if no one is watching...they will be!
Timing
getting close to break-even...
in thousands
PERIOD ENDING 31-Dec-05 30-Sep-05 30-Jun-05 31-Mar-05
Total Revenue 2,716 2,045 1,649 1,181
Cost of Revenue 2,286 1,806 1,354 1,036
Gross Profit 430 239 294 144
Net Income (90) (302) (195) (636)
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