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TRAC, MyTrack, is up 50% in a week. Not sure if it will con't north but TRAC got the warning from the NAZ. If their stock did not get above 1.00 and stay above 1.00 for consecutive 10 days, they would be delisted. Cooking along nicely since then.
Humbly report, FG, back on the GENI track for a moment, given our discussion on this thread really did start with you transplanting here the continuation of our GENI "call certs" talk on the SEVU thread, starting here:
http://www.investorshub.com/beta/read_msg.asp?message_id=85611
Have a peek at: "The Anatomy of a Pump & Dump"
http://www.siliconinvestor.com/stocktalk/msg.gsp?msgid=15725706
Cheers,
Svejk
Humbly agree, FG, it is possible that the short term effect of the IFTP [insert your guess of whatever it is they're doing] will be some short covering as well as some shareholder selling. Dat's da markit, and da markit moves, and will move 'cause folks will read what they were served, each and every one of them -- differently.
Long term? Who knows? Common shareholders cannot make an intelligent decision as to what the heck the "new" company will be, really, at present.
Now, can this be traded? Sure, anything can be traded. But, (if I were trading OTCBB in the first place, not) it makes more sense to me to trade stock of companies whose corporate structure (as it relates to the common share) is defined.
I understand your tolerance of risk is a lot higher than mine, so this post is in no way meant to lecture you regarding your choice to play this stock one way or the other. I'm just humbly sharing my humble thoughts.
Cheers,
Svejk
Josef, IFTP, saw that and mostly concur,...
as I couldn't determine either, what IFTP shares were likely to be worth after the merger... However, one of the potential benefits, not yet apparent in the stock price, is to encourage short covering...
JMHO, F. Goelo + + +
¶ Large move in NBMX+67%, following 140% Gain yesterday...
NBMX is on the Pinks and coming out of bankruptcy... Re-organization is likely to be accompanied by a steep Reverse Split, so Caution is advised...
JMHO, F. Goelo + + +
"Deciphering Infotopia's Latest Press Release"
http://www.otcbbnn.com/news601.htm
¶ IFTP: EntrePort Corporation to Acquire Infotopia, Inc.
Infotopia to Achieve Goal of AMEX Listing
BOSTON--(BUSINESS WIRE)--April 26, 2001--Infotopia, Inc. (OTC BB: IFTP), announced today it has entered into a letter of intent with EntrePort, Inc., (AMEX: ENP - news) to pursue a corporate reorganization in which Infotopia would transfer its business to EntrePort in a transaction structured as an asset purchase and EntrePort would spin-off its existing business to its shareholders. EntrePort is the leader in combining off-line and on-line training and coaching for real estate professionals in North America. Infotopia management expects that the increased market awareness and exposure afforded by having the company listed on major exchange will help to maximize shareholder value.
Subject to shareholder approval and the terms and conditions to be set forth in a definitive agreement, EntrePort will acquire all of the assets and assume all of the liabilities of Infotopia, Inc., a Nevada corporation, including acquiring Infotopia, Inc., an Ohio corporation, from Infotopia, Nevada by an exchange in which EntrePort will issue to Infotopia, Nevada 13,100,000 units, each unit consisting of one share of EntrePort common stock, 1/2 share common stock purchase warrant exercisable at $10.00 per full share and 1/4 share common stock purchase warrant exercisable at $15.00 per full share (each, an EntrePort Unit). Prior to the closing, EntrePort will affect a 1:30 reverse split of its' stock. EntrePort shall transfer all of its assets (including isucceed.com and university.com) to a wholly owned subsidiary, the shares of which will be subsequently distributed to the preclosing EntrePort shareholders. In addition the EntrePort wholly owned subsidiary will receive $2 million from Infotopia.
Infotopia's Chairman Daniel Hoyng expressed, ``This merger is exciting for our shareholders because it realizes our corporate objective to trade on a national market stock exchange. With over $36 million in revenue and $4 million in pretax net income over the last four months, we feel our shareholders would be best served with Infotopia shares listed on a major exchange. Upon the closing of this transaction, we hope to improve shareholder relations through analyst coverage, and the ability to attract institutional investors. With the overall downtrend of the broad markets, and lowered earnings estimates by other companies, IFTP believes this merger will help to continue the Company's growth and bring increased market recognition.''
EntrePort's CEO William A. Shue stated, ``This transaction with Infotopia offers our shareholders the opportunity to realize sustained growth of their investment through the receipt of $2 million, the continued interest in the new Infotopia and the ongoing investment in the companies training and education company that will be spun off as a private company.''
After the transaction, EntrePort will change its name to Infotopia, Inc. then apply to the American Stock Exchange for a name and symbol change to Infotopia, Inc., and a symbol of (AMEX: IFT - news). The newly renamed Infotopia will endeavor to have the EntrePort Units and the securities underlying the EntrePort Units registered with the Securities and Exchange Commission. Infotopia intends that its current shareholders will receive a liquidating distribution of all of the equity securities of the new company, upon completion of the registration. Upon closing, the EntrePort board of directors and management will take identical positions in the wholly owned subsidiary, and will resign from the AMEX listed company and immediately be replaced by the existing Infotopia board of directors, with the addition of two to be determined additional outside board members. Current Infotopia management will assume all management duties of the new entity.
Closing of this transaction is subject to due diligence of both companies, shareholder approval, and approval by the American Stock Exchange. Shareholders of both companies will receive information in a proxy statement, which will provide complete terms of the agreement.
Infotopia's new financial consultant, Greg Kofford, stated, ``This is the first step in a series of transactions that we believe will maximize shareholder value, and afford us the ability to capitalize on additional opportunities.''
ABOUT INFOTOPIA
The Company's mission is to produce, market, and distribute an expanding line of high-quality, innovative health, fitness and consumer products. Infotopia seeks out products that deliver superior value, outstanding quality, and competitive prices to best satisfy customer demand. The Company markets its products to consumers through a variety marketing channels, including infomercials, distributor alliances, and Internet e-commerce. The management at Infotopia is committed to increasing corporate revenues and profits. The company's website is located at http://www.infotopia.tv .
This news release includes forward-looking statements that include risk and uncertainties. The forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially due to a variety of factors, including without limitation the Company's ability to produce and market products and/or services and other risks detailed from time to time in their Company's reports filed with the Securities Exchange Commission.
--------------------------------------------------------------------------------
Contact:
Infotopia, Inc. EntrePort Corporation
Robert Tilton David D'Arcangelo
609-888-4111 760.597.4800x110
609-888-4112 david@entreport.com
IFTPIR@infotopia.tv
Josef, you have too much time on your hands...
and I just haven't got enough...
Regards, FG
Humbly report, FG, then the picture of the value of the playground, which looked like this:
/
started looking like this:
A
on it's way to ending up looking like this, at the end of the story:
A_____________
no matter how many children listened to the first boy, and ran to hide their toys under their beds.
Cheers,
Svejk
Josef, I understood your answer but...
wanted you to provide specifics to justify the allegations in your post, which you're once more skirting, now with a bed time story... What next?...
JMHO, F. Goelo + + +
Humbly report, FG, since you have been unable to understand my answer, let me tell you a bed time story instead, maybe that will help you get it.
A boy said, "Look kids says here to take all your toys, wrap them up, and put them under the bed so nobody, especially the big bad wolf can get them! That'll show 'em!!!"
Another boy said, "Bogus. That's a Poopville trick to get you little kids to go home and just sit on your toys, while this guy and the other big kids take over the playground, and make your playtime worthless."
Then the first boy changed the subject, "I'll bet you this toy in my hand is gonna be very popular today. I bet ya, I bet ya!"
So the other kid said, "Yeah, who cares about today, won't last. You know that, but you're still telling all the other kids to take their toys home and tuck them under the bed instead of playing with them while the playing is good. Be honest, you weasel!"
So then the first kid taped the second kid's mouth, saying, "Hey, can't say that in this sand box, buddy, only I can say whatever I want here, it's my sandbox. Go say it someplace else. Here, I'll throw your stuff someplace far away, myself."
So then the second kid was just about to say, "Woah, you nasty nasty boy, you! Trying to get my stuff as far away from yours as possible, so nobody can make heads or tails out of our argument, huh?"
But he changed his mind, and instead said, "Look, dood, fact remains taking all your toys home to save the playground is stupid, and won't work. You know that, and I know that. Only difference is you're pretending you don't know that."
Cheers,
Svejk
Josef, you've cleverly skirted answering...
because your assumptions were just plain wrong...
FG
Posted by: Josef Svejk
In reply to: Francois+Goelo who wrote msg# 7960 Date: 4/26/2001 1:28:07 AM (ET)
Post # of 7961
"....honest men are few when it comes to themselves." -- Twain.
Infotopia Announces Two-Week Revenues Exceed $8,000,000
BOSTON--(BUSINESS WIRE)--April 25, 2001--Infotopia, Inc. (OTC BB: IFTP) (``Infotopia''), announced today that the gross revenue for the two-week period ending April 22, 2001 exceeded $8,000,000.00. Infotopia has continued to surpass its projected weekly sales and profit goals for the second quarter.
Ernest Zavoral, President stated, ``We are pleased that weekly gross revenue and profits continue to grow, fueled by the success of the Total Tiger, the Body by Jake, Bun & Thigh Rocker, the Medicus Dual 2000 and Michael Thurmond's Six Week Body Makeover. Their success allows us to continue to achieve and surpass our weekly sales objectives.''
Daniel Hoyng, CEO and Chairman commented, ``The continued strong numbers are proof of the stability being achieved in our weekly performance. We are also working diligently on securing long-term revenue growth through implementing various ''backend`` programs that yield in a high retention rate of the new customers and provide a consistent stream of revenue and profit through the sales of additional products and services, with minimal additional costs.''
ABOUT INFOTOPIA
The Company's mission is to produce, market, and distribute an expanding line of high-quality, innovative health, fitness and consumer products. Infotopia seeks out products that deliver superior value, outstanding quality, and competitive prices to best satisfy customer demand. The Company markets its products to consumers through a variety marketing channels, including infomercials, distributor alliances, and Internet e-commerce. The management at Infotopia is committed to increasing corporate revenues and profits. The company's website is located at http://www.infotopia.tv
This news release includes ``forward-looking statements'' that include risk and uncertainties. The forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially due to a variety of factors, including without limitation the Company's ability to produce and market products and/or services and other risks detailed from time to time in their Company's reports filed with the Securities Exchange Commission.
http://biz.yahoo.com/bw/010425/2258.html
I do get carried away at times!
Muelhead,
Don't worry, I just found it ironic that you were spamming against Spam...
Regards, FG
¶ SCRO will get an "E" tomorrow...
that should be temporary... Within 2 days of the 10K being filed, the "E" should be removed...
http://www.otcbb.com/asp/dailylist_search.asp?DirectSymbol=SCRO&OTCBB=True
¶ PNS: PDSi Reports Record Revenue for First Quarter 2001
COLUMBUS, Ohio--(BUSINESS WIRE)--April 25, 2001--Pinnacle Data
Systems, Inc. (PDSi) (AMEX: PNS), a leader in application-specific,
high-density hardware and global support solutions for the world's
leading original equipment manufacturers, today announced financial
results for the quarter ended March 31, 2001.
For the first quarter of 2001, revenue rose 49 percent to a
record-high $7,525,483, compared with $5,043,954 for the quarter ended
March 31, 2000. Net income for the 2001 quarter declined 52 percent to
$89,671, or one cent per diluted share, versus $186,060, or three
cents per diluted share, for the corresponding period in 2000.
Commenting on the results, John Bair, PDSi president and chief
executive officer, said, "We are pleased with the progress we have
made thus far in 2001 in achieving a historical high for quarterly
revenue and capitalizing on last year's success in product development
and strategic OEM engagements. In the fourth quarter of 2000, we began
increasing our investment in key infrastructure and personnel,
expanding our sales channel and further developing new products in
order to execute our long-term growth plans. We expect to continue to
make those investments in 2001.
"Our focus is on developing innovative new products targeted at
the rapidly evolving intelligent network sector. Although we have seen
some softening in orders due to the recent downturn in the economy, we
remain bullish on the long-term value of our contributions to the
dynamic, emerging technologies in the telecom and digital medical
imaging market spaces."
About PDSi
PDSi is a leading provider of application-specific, high-density
hardware solutions and global service and support for the world's
leading original equipment manufacturers in the telecommunications,
medical systems and enterprise markets. Specializing in powerful,
reliable and scalable Unix-based hardware platforms, PDSi offers a
broad range of innovative board and system-level data transmission
products supported by comprehensive product lifecycle management
programs encompassing depot repair, advanced exchange, contact center
support and end-of-life control. For more information, visit the PDSi
web site at www.pinnacle.com.
Safe Harbor Statement: Statements in this release which relate to
other than strictly historical facts, including statements about the
Company's plans and strategies, as well as management's expectations
about new and existing products and services, technologies and
opportunities, market growth, demand for acceptance of new and
existing products and services are forward-looking statements. The
words "believe," "expect," "anticipate," "estimate," "project" and
similar expressions identify forward-looking statements that speak
only as of the date thereof. Investors are cautioned that such
statements involve risks and uncertainties that could cause actual
results to differ materially from historical or anticipated results
due to many factors. The Company undertakes no obligations to publicly
update or revise such statements.
-0-
*T
PINNACLE DATA SYSTEMS, INC.
Financial Highlights (Unaudited)
For the Thirteen Weeks Ended
3/31/01 3/31/00
SALES
Product sales $ 6,194,842 $ 4,184,415
Repair sales 537,649 541,308
Other service sales 792,992 318,231
7,525,483 5,043,954
COST OF SALES
Product sales 4,938,329 3,252,836
Repair sales 359,475 216,022
Other service sales 646,803 300,283
5,944,607 3,769,141
GROSS PROFIT 1,580,876 1,274,813
OPERATING EXPENSES
Selling, general and administrative 1,315,164 932,165
INCOME FROM OPERATIONS 265,712 342,648
OTHER EXPENSE
Interest expense (118,041) (37,631)
(118,041) (37,631)
INCOME BEFORE INCOME TAXES 147,671 305,017
INCOME TAXES 58,000 118,957
NET INCOME $ 89,671 $ 186,060
BASIC EARNINGS PER COMMON SHARE $ 0.02 $ 0.04
DILUTED EARNINGS PER COMMON SHARE $ 0.01 $ 0.03
WEIGHTED AVERAGE SHARES COMMON OUTSTANDING
Basic 5,425,104 4,875,738
Diluted 6,064,129 5,469,462
*T
--30--ah/ny*
CONTACT: Porter, LeVay & Rose, Inc., New York
Linda Decker, Investor Relations
Lori Parks, VP-Editorial
212/564-4700
or
Pinnacle Data Systems, Inc., Columbus
John Bair, President & CEO
614/748-1150
FG, sorry, I had you confused with another poster!
I don't spam, never have, never will! Read definition of spam!
http://www.investorshub.com/beta/Terms.asp
muelhead
btw, I've seen enough of your posts to know that I want absolutely nothing to do with you, take the hint buddy!
Muelhead, kindly QUIT SPAMMING all threads.... FG
All Chairs / How Chairmen are to handle Spam
Spam definition - http://www.investorshub.com/beta/Terms.asp
1. Remove the message via Chairman Tools
2. If it's a really bad spammer by looking at his profile, send a note to Matt/Bob with a link to his profile:
http://www.investorshub.com/beta/profile.asp?user=2744
http://www.investorshub.com/beta/profile.asp?user=5343
3. They will delete all of his posts @ click of a button.
4. It's important for Chairman to do this, because they are helping the whole community by pointing this out. Don't just say "Hey, keep your spamming to yourself!" Delete that sucker and let the Admin know.
Claire, I sure don't know...
When trading QQQ Options, I believe it pays to have half of the position in long term Calls, like January 2002, for example and the rest to be traded, according to market... Now I'd be buying Puts for the short term...
JMHO, F. Goelo + + +
Good you hold them over the week end......This rally looks nicer than the other ones..Any opinion on it? Is it a bear rally follwed by a BIG down or a economic rebound....Who knows?
QQQ September 46 Call Options UP over 400%...
from $2.00 on 5 April to $8.20 today......
http://quote.yahoo.com/q?s=QQQIT.X&d=t
Light Management Group Signs Letter of Intent with France Telecom
http://biz.yahoo.com/bw/010419/0166.html
¶ ADVC: Advanced Communications Technologies Inc. -- SpectruCell -SDR- Base Station Presents Solution to US 3G Spectrum Rollout and Allocation Woes
LOS ANGELES--(BUSINESS WIRE)--April 19, 2001--Advanced
Communications Technologies Inc. (OTCBB:ADVC) (ACT-US) released a
statement today confirming that the company's SpectruCell software
defined radio (SDR) multiple protocol mobile wireless network base
station operating platform can provide a definitive solution to the 3G
spectrum allocation issues presently facing United States regulators
and operators.
The SpectruCell base station has been designed with the ability to
dynamically reconfigure a mobile network "on the fly" via its
proprietary software defined radio technology and could remove one of
the key impediments facing 3G network roll outs in the United States
and Europe.
"While network operators can support both 2G and 3G technologies
in existing 2G spectrum with currently available hardware defined
equipment, SpectruCell exponentially increases the viability of this
option by allowing for the potential to dynamically reconfigure the
network according to call load," said Paul Staugaitis, ACT's Radio
Frequency (RF) Team Leader. "In this way an operator could support
both CDMA2000 and GSM in their existing 2G spectrum, with SpectruCell
offering the potential to reconfigure the network in real time to suit
call load from CDMA2000 or GSM users. Existing hardware solutions
cannot offer the flexibility to dynamically alter network capacity
between protocols and accordingly operating both 2G and 3G protocols
in 2G spectrum has remained unattractive until now."
Mr. Staugaitis recently co-presented at the 3G Technical
Strategies Conference in Geneva, Switzerland on behalf of ACT and
noted that feedback from the conference confirmed that ACT's software
defined radio approach to next generation mobile networks was both
world leading and of extreme interest to mobile network operators.
As a direct result of the Geneva, Switzerland conference ACT has
been approached by several of the largest telecommunications companies
in Europe and the USA, many of whom are household names, for them to
co-develop 3G applications and equipment utilizing the Spectrucell
software defined operating platform. Such partnerships would generate
immediate revenues for ACT both in Australia and the USA.
With the political issues and confusion involved with the multiple
3G standards being proposed by various countries, the SpectruCell
non-hybrid, pure form software defined operating platform is the only
safe choice for application developers as the implementation of 3G
protocols is entirely in software and can be re-configured at will.
With the current confusion over 3G standards (15+ proposed) it is
virtually impossible for manufacturers to provide multiple solutions
in hardware, whereas with the SpectruCell operating system all 15+
protocols can be supported on the one operating system if necessary.
The SpectruCell software defined operating system will be available to
third party and industry developers in July 2001, as previously
announced. Given the multiple 3G standards being proposed, indications
are that it may be the only viable 3G development platform available
in the market for quite some time.
"ACT's presentation of an optimal NodeB and RNC architecture based
on software radio fundamentals was very well received and provided
industry observers with a path to 3G deployment devoid of the `silicon
implementation' issues dogging protocols such as UMTS at present. The
vendors are justifiably nervous about committing to silicon and as no
one wants to be the first, this is beginning to seriously affect
deployment dates for 3G. SpectruCell technology could realistically
accelerate the tardy UMTS standardisation and deployment process by
removing some of the technological and commercial roadblocks that
stand in the way with current technologies," said Staugaitis.
Separate Conference presentations by other mobile wireless experts
confirmed ACT's advantage with Clif Campbell of Cingular Wireless
clearly stating that the spectrum issues facing the United States
mean that a globally harmonized 3G standard is still a pipe dream and
that US carriers have to be deploying GPRS and EDGE to attempt to meet
market expectations for wireless internet services. However, the
SpectruCell technology can achieve this upgrade purely via software
upload to the base station. This is of major importance to the
industry.
The SpectruCell software defined multiple protocol mobile wireless
network base station will be available for type testing in late 2001
with commercial availability in the first quarter of 2002. With the
ability to simultaneously support multiple protocols and innovative
features such as dynamic network reconfiguration, SpectruCell is truly
the operating system for next generation mobile networks.
Perhaps most importantly, indications are that the SpectruCell
base station will be deliverable at a cost factor 20%-30% below the
cost for available single protocol hardware defined mobile base
stations currently being deployed by network providers.
About Advanced Communications Technologies
Advanced Communications Technologies Inc. (OTCBB:ADVC) is a
leader in the field of Software Defined Radio (SDR) that in
conjunction with its Australian based affiliate has developed a
proprietary, multiple-protocol wireless base station -- SpectruCell.
Through eliminating the use of Qualcomm (Nasdaq:QCOM) chipsets,
protocol specific hardware and by conducting all signal processing in
software, SpectruCell provides for simultaneous support of multiple
mobile communications protocols (CDMA, WCDMA, UMTS, GSM & 3G) all in
the same base station. Support for additional protocols is achieved
through the uploading of additional software modules. By implementing
the company's SpectruCell technology, network providers will be able
to maintain service to their existing customer base and preserve the
full utilization of their existing network infrastructure while at the
same time securing a highly flexible migration path for evolving
3G-based protocols such as WCDMA and UMTS. SpectruCell is complemented
by several other wireless technologies currently under development in
Australia. Advanced Communication Technologies Inc. plans to market
these products throughout North, South and Central America. For more
information regarding Advanced Communications Technologies, visit
www.act-usa.net.
The foregoing contains forward-looking information within the
meaning of The Private Securities Litigation Act of 1995. Such
forward-looking statements involve certain risks and uncertainties.
The actual results may differ materially from such forward-looking
statements. The company does not undertake to publicly update or
revise its forward-looking statements even if experience or future
changes make it clear that any projected results (expressed or
implied) will not be realized.
--30--em/sf*
CONTACT: Advanced Communications Technologies Inc.
Roger May, 61 3 9672 8888 or 61 411 189 931 (Chairman)
roger.may@act-aus.net
or
Jason Webster, 61 2 9327-2579 or 61 403 199 811
(Manager-Corporate Communication)
jason.webster@act-aus.net
TexN, SCRO, good question on the 10K Filing...
I expect it at any time now, as they usually play it pretty close to the wire...
JMHO, F. Goelo + + +
SCRO: Have you heard anything about the 10K filing?
Also, thanks for the update on TMSS. Hoping it has ALREADY turned the corner.
¶ TMSS may have turned the corner....
http://biz.yahoo.com/e/010416/tmss.ob.html
April 16, 2001
TMS INC /OK/ (TMSS.OB)
Quarterly Report (SEC form 10QSB)
Management's Discussion and Analysis of Financial Condition and Results of Operations
RESULTS OF OPERATIONS
This Quarterly Report on Form 10-QSB contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. Our actual results could differ materially from those set forth in the forward-looking statements because of certain risks and uncertainties, such as those inherent generally in the computer software industry and the impact of competition, pricing and changing market conditions. As a result, you should not rely on these forward-looking statements.
Following is selected financial information for each of our reportable segments for the three and six-month periods ended February 28, 2001 and February 29, 2000. All revenue and expenses are from non-affiliated sources.
Component Product Technologies
Three Months Ended Six Months Ended
February 28, February 29, February 28, February 29,
2001 2000 2001 2000
---- ---- ---- ----
Revenue from external customers $779,929 $513,069 $1,680,721 $1,367,402
------------ ------------ ------------ -----------
Operating income $196,474 $160,332 $ 534,063 $ 388,311
------------ ------------ ------------ -----------
Our revenue from the component product technologies segment is primarily from licensing our ViewDirector, Prizm Plug-in, ScanFix and FormFix products and from related royalties. Revenue for this segment for the three months ended February 28, 2001 was $779,929 compared to $513,069 for the same period of 2000, an increase of $266,860, or 52%. Segment revenue for the six months ended February 28, 2001 was $1,680,721 compared to $1,367,402 for the same six-month periodof 2000, an increase of $313,319, or 23%.
Image display product revenue for the three-month periods ended February 28, 2001 and February 29, 2000 was $412,000 and $278,000, respectively, a $134,000, or 48%, increase. This increase accounts for 50% of the total segment revenue increase between those periods and results from a greater number of large multiple licensing sales. These large sales are a direct impact of the reorganization of our sales force during fiscal 2001. Image display product revenue for the six months ended February 28, 2001 was $916,000 compared to $841,000 for the same period of 2000, a $75,000, or 9%, increase.
Image processing product revenue for the three-month period ended February 28, 2001 and February 29, 2000 was $289,000 and $196,000, respectively, a $93,000, or 47% increase. Image processing product revenue for the six months ended February 28, 2001 was $613,000 compared to $456,000 for the same period of 2000, a $157,000, or 34%, increase. These increases in image processing product revenue are primarily due to a greater number of large sales during the three and six-month periods ended February 28, 2001, compared to the same periods in 2000.
Maintenance revenue for our component product technologies products for the three and six month periods ended February 28, 2001 was $78,000 and 152,000, respectively, representing increases of 101% and 114% over the same periods of 2000. These increases are due to our continued effort to enroll new customers in maintenance agreements and renew maintenance agreements with existing customers.
One customer accounted for 11% and 12% of the segment's revenue during the three-month periods ended February 28, 2001 and February 29, 2000, respectively. No single customer accounted for greater than 10% of the segment revenue for the six-month period ended February 28, 2001. Approximately 10% of the segment revenue for the six months ended February 29, 2000 came from one customer. Approximately 53% and 57% of our component products technologies revenue for the three and six month periods ended February 28, 2001, respectively, was derived from sales of multiple licenses to individual customers compared to 41% and 57% for the same time periods during 2000. Currently, the profitability of this segment depends on the ability to secure significant sales of multiple licenses to individual customers.
Operating income margins for this segment were 25% and 31% for the three months ended February 28, 2001 and February 29, 2000, respectively. The decrease in the operating margin in the second quarter of 2001 compared to the second quarter of fiscal 2000 is primarily a result of recovery of a previously recorded bad debt of approximately $258,000 in the prior second quarter, resulting in a decrease in general and administrative expense. Changes in various other operating expenses also impacted the operating margins for the current and prior fiscal year second quarters.
Amortization of capitalized software costs decreased to $29,000 for the three months ended February 28, 2001 compared to $60,000 for the three months ended February 29, 2000. This decrease of approximately $31,000 or 52% is due to the write-offs of the capitalized costs of unprofitable software products during the last three quarters of fiscal year 2000. These write-offs include a $73,000 write-down of the remaining unamortized capitalized software development costs for SpectrumFix 1.0 in the second quarter of fiscal 2000.
Sales and marketing costs increased to $185,000 for the three months ended February 28, 2001 from $140,000 for the three months ended February 29, 2000. That increase of $45,000 or 32% was due to an increase in the number of sales personnel in the second quarter of fiscal 2001 and an increase in advertising efforts. Research and development costs increased to $147,000 for the three months ended February 28, 2001 compared to $83,000 for the three months ended February 29, 2000. This increase of approximately $64,000 or 77% is due to the allocation of additional resources from the professional services segment to develop the new Prizm Color IP toolkit and upgrade other existing products.
Operating income margins for this segment were 32% and 28% for the six months ended February 28, 2001 and February 29, 2000, respectively. The increase in the operating income margin is primarily due to the write-off of the capitalized costs of SpectrumFix in the first quarter of fiscal 2000. Offsetting this write-off was the bad debt recovery during the second quarter of fiscal 2000 as discussed above. Other expense fluctuations that impacted the operating margins for the six months ended February 28, 2001 and February 29, 2000, were amortization expense and research and development expense.
Amortization of capitalized software costs decreased to $58,000 for the six months ended February 28, 2001 compared to $143,000 for the six months ended February 29, 2000. This decrease of approximately $85,000 or 52% is due to the write-offs of the capitalized costs of unprofitable software products during the last three quarters of fiscal year 2000.
Research and development costs increased to $269,000 for the six months ended February 28, 2001 compared to $167,000 for the six months ended February 29, 2000. This increase of approximately $102,000 or 61% is due to the allocation of additional resources from the professional services segment to develop the new Prizm Color IP toolkit and upgrade other existing products.
Assessment Product Technologies
Three Months Ended Six Months Ended
February 28, February 29, February 28, February 29,
2001 2000 2001 2000
---- ---- ---- ----
Revenue from external customers - - $ 6,200 -
------------ ------------ ------------ -----------
Operating loss $(215,542) $(68,892) $ (396,514) $(97,693)
------------ ------------ ------------ -----------
For the six months ended February 28, 2001, revenue for the assessment product technologies segment was $6,200 compared to no revenue from this segment for the same period during 2000. This revenue resulted from a consulting project in the first quarter of 2001 for one customer. We incurred combined costs of approximately $216,000 and $69,000 in research and development and business development for the three-month periods ending February 28, 2001 and February 29, 2000, respectively, and $397,000 and 98,000 for the six-month periods ended February 28, 2001 and February 29, 2000, respectively. We incurred substantially all of the operating expenses in fiscal 2001 on the design and development of the new Virtual Scoring CenterT software product designed for the K-12 educational assessment vertical market. We installed the initial release the VSCT at one customer location during the second quarter of fiscal 2001 and started pilot testing the product in March 2001. The pilot testing is currently being performed by one school district and we have a commitment from another school district to begin testing the system in May 2001. We expect to have a commercial version of the product available at the beginning of fiscal year 2002. Operating expenses incurred during the three and six months ended February 29, 2000 were incurred for the development of the Digital Mark Recognition software product prototype. As of February 28, 2001, this segment had a revenue backlog of approximately $200,000 from one customer that is expected to be recorded as revenue in the third quarter of fiscal 2000 upon acceptance by the initial Virtual Scoring Center customer.
Professional Services -
Three Months Ended Six Months Ended
February 28, February 29, February 28, February 29,
2001 2000 2001 2000
---- ---- ---- ----
Revenue from external customers $27,660 $ 72,049 $42,957 $ 325,891
----------- ----------- ----------- -----------
Operating income (loss) $20,787 $ (145,547) $24,337 $ (251,791)
----------- ----------- ----------- -----------
Revenue for the professional services segment was $27,660 during the three months ended February 28, 2001 compared to $72,049 for the same period of 2000, a decrease of $44,389 or 62%. Segment revenue for the six months ended February 28, 2001 was $42,957 compared to $325,891 for the six-month period ended February 29, 2000, a decrease of $282,934 or 87%. These revenue declines resulted from our decision in fiscal 2000 to discontinue our professional service business. Three customers accounted for all of the revenue for the three and six-month periods ended February 28, 2001. Four customers accounted for approximately 95% of the revenue for the second quarter of fiscal 2000, and 78% of the revenue for the six months ended February 29, 2000 came from three customer contracts.
Operating income for the segment was 167% and 88% of revenue for the three and six months ending February 28, 2001, respectively, compared to a loss equal to 202% and 77% of revenue for the three and six months ending February 29, 2000, respectively. Operating margins for the three and six-month periods ended February 29, 2000 were negatively impacted by cost overruns on two fixed-fee projects. One of those projects was completed in the fourth quarter of fiscal 2000, while the other was completed and accepted by the customer during the first quarter of fiscal 2001. Operating margins for the three and six months ended February 28, 2001 improved over the same periods in 2000 due to better cost controls for the work performed on these projects in fiscal 2001. We will continue to provide maintenance for these projects during the remainder of fiscal 2001 but will not offer professional services to any new customers. We allocated professional services segment resources to product development upon completion of these projects.
Document Conversion -
Three Months Ended Six Months Ended
February 28, February 29, February 28, February 29,
2001 2000 2001 2000
---- ---- ---- ----
Revenue from external customers $61,358 $65,814 $121,534 $128,664
------------ ------------ ----------- -----------
Operating income (loss) $23,157 $(2,546) $ 30,531 $ (7,490)
------------ ----------- ----------- -----------
Revenue for the document conversion segment was $61,358 for the three months ended February 28, 2001 compared to $65,814 for the same period of 2000, a decrease of $4,456 or 7%. Segment revenue for the six months ended February 28, 2001 was $121,534 compared to $128,664 for the six-month period ended February 29, 2000, a decrease of $7,130 or 6%. Approximately 96% and 86% of the document conversion revenue for the three and six months ended February 28, 2001, respectively, came from three customers. All of the segment revenue for the three months ended February 29, 2000 came from five customers and approximately 92% of the revenue came from four customers for the six months ended February 29, 2000.
Operating income for the segment was 38% and 25% of revenue for the three and six months ending February 28, 2001, respectively, compared to a loss equal to 4% and 6% of revenue for the three and six months ending February 29, 2000, respectively. The increase in margins from fiscal 2000 primarily resulted from a decrease in general and administrative costs of approximately $36,000, or 98%, and $57,000, or 79%, for the three and six month periods ended February 28. 2001 compared to the same periods last fiscal year. These decreases are due to a reallocation of resources to the other segments and the expiration of two capital leases during the first quarter of fiscal 2001 for certain document conversion equipment.
During the three months ended February 28, 2001, we decided to discontinue document conversion services to several customers. Upon completion of the work for these customers in the third quarter of fiscal 2001, we expect a decline in document conversion revenue. We will continue to provide document conversion services to one customer during the remainder of fiscal 2001.
Total Company Operating Results -
Following is a report of total company revenue and a reconciliation of reportable segments' operating income (loss) to our total net income (loss) for the three and six month periods ending February 28, 2001 and February 29, 2000.
Three Months Ended Six Months Ended
February 28, February 29, February 28, February 29,
2001 2000 2001 2000
---- ---- ---- ----
Total company revenue $ 868,947 $ 650,932 $ 1,851,413 $ 1,821,957
----------- ----------- ----------- ------------
Operating income (loss) for
reportable segments 24,876 (56,653) 192,417 31,337
Unallocated corporate expenses (88,358) (101,030) (200,624) (212,412)
Interest income 14,524 11,702 33,391 23,297
Interest expense (3,788) (5,827) (8,196) (10,838)
Other, net 324 (5,604) 4,224 696
Income tax benefit (expense) 21,725 (4,233) - (7,482)
------------ ------------ ------------ ------------
Net loss $ (30,697) $ (161,645) $ 21,212 $ (175,402)
=========== =========== =========== ============
Loss per share:
Basic $ (0.00) $ (0.01) $ 0.00 $ (0.01)
Diluted (0.00) (0.01) 0.00 (0.01)
=========== =========== =========== ============
Total revenue for the three months ended February 28, 2001 was $868,947 compared to $650,932 for the same quarter of fiscal 2000, an increase of $218,015, or 33%. Licensing and royalty revenue for the three months ended February 28, 2001 increased to $780,000 from $513,000, a $267,000 or 52% increase over the same quarter of fiscal 2000. Revenue from image display products for the three months ended February 28, 2001 increased to $412,000 from $278,000, a $134,000 or 48% increase over the same quarter of fiscal 2000. Image processing product revenue for the three months ended February 28, 2001 increased to $289,000 from $196,000, a $93,000 or 47% increase over the same quarter of fiscal 2000. Maintenance revenue for the three months ended February 28, 2001 increased to $78,000 from $39,000, a $39,000 or 101% increase over the same quarter of fiscal 2000. Partially offsetting the licensing and royalty revenue for the three months ended February 28, 2001 was a decrease of $28,000 from $72,000 to $44,000 in professional services revenue due to our decision to discontinue the professional services segment and to reallocate resources previously dedicated to the professional services segment to other segments for product development. Our total net loss for the three months ended February 28, 2001 was $30,697 or $0.00 per share (basic and diluted), compared to a net loss of $161,645 or $0.01 per share (basic and diluted), for the second quarter of fiscal 2000. The increase in profitability is primarily attributable to the decrease of $211,000 or 97% in operating expenses associated with our transition out of the unprofitable professional services segment. In addition, the profitability for the second quarter of fiscal 2000 was negatively impacted by the $73,000 write- off of SpectrumFix 1.0. However, the profitability for the three months ended February 29, 2000 was positively impacted by the $258,000 recovery of a previously written-off bad debt. The decrease in the current second quarter professional services operating expenses discussed above was partially offset by the increase of $147,000 or 212% in development costs for the assessment product technologies segment. A deferred income tax benefit of approximately $22,000 for the current second quarter was recorded based on our current estimate of the overall tax rate expected for the fiscal year. Income tax expense recorded for the three-month period ended February 29, 2000 resulted from differences in prior year estimates used for financial reporting compared to actual state tax payments.
Total revenue for the first six months of fiscal 2001 was $1,851,413 compared to $1,821,957 for the same period in fiscal 2000, an increase of $29,456 or 2%. Although the professional services segment revenue decreased $283,000 or 87% for the six months ended February 28, 2001 compared to the same period of 2000, we maintained the same level of total revenue between those periods due to an increase of $313,000 or 23% in licensing and royalty revenue. The decline in professional services revenue was expected based on our decision to discontinue the professional services segment. Licensing and royalty revenue increased based on the revenue increases for image processing products, image viewing products and maintenance as discussed above in the Component Product Technologies section.
Net income for the first six months of fiscal 2001 was $21,212 or $0.00 per share (basic and diluted), compared to net loss of $175,402, or $0.01 per share (basic and diluted), for the same period in fiscal 2000. This profitability increase is primarily due to the decrease of $559,000 or 97% in operating expenses associated with our transition out of the unprofitable professional services segment. This decrease is partially offset by the increase of $299,000 or 306% in development costs for the assessment product technologies segment for the six months ended February 28, 2001 compared to the same period in 2000. The profitability for the six months ended February 29, 2000 was positively impacted by the $258,000 recovery of a previously written-off bad debt; however, this recovery was partially offset by the $73,000 write-off of SpectrumFix 1.0 during the same period. A deferred income tax benefit of approximately $64,000 for the six-month period ended February 29, 2000 was offset by a corresponding increase to the valuation allowance for deferred tax assets. Income tax expense reported for the six-month period ended February 29, 2000 resulted from differences in prior year estimates used for financial reporting compared to actual state tax payments.
Deferred Income Taxes - Deferred tax assets are recognized when it is more likely than not that benefits from deferred tax assets will be realized. We have recognized a net deferred tax asset of $484,500 as of February 28, 2001. The ultimate realization of this deferred tax asset is dependent upon our ability to generate future taxable income during the periods in which those temporary differences become deductible. Management considered the scheduled reversal of deferred tax liabilities, projected future taxable income, past earnings history, sales backlog, and net operating loss and tax credit carryforward expiration dates in determining the amount of deferred tax asset to recognize. In order to fully realize the deferred tax asset, we must generate future taxable income of approximately $1,275,000 prior to the expiration of the net operating loss and tax credit carryforwards. The valuation allowance for the related deferred tax assets may be increased in future periods if we cannot generate sufficient taxable income to recover the net deferred tax asset.
FINANCIAL CONDITION
Working capital at February 28, 2001 was $1,132,045 with a current ratio of 2.6:1, compared to $1,376,235 with a current ratio of 2.9:1 at August 31, 2000. Net cash used in operations for the six months ended February 28, 2001 was $97,510 compared to net cash provided by operations of $251,695 for the same period of 2000. The decrease in operating cash flows for the current six month period over the same period last year is primarily due to the timing of customer cash collections. Net cash used in investing activities for the six months ending February 28, 2001 was $313,145 compared to $175,799 for the same period in fiscal 2000.
The increase in investing cash flows primarily relates to the increase in capitalized software development costs due to the increased product development related primarily to the PrizmT Color Image Processing toolkit and the Virtual Scoring Center during the six months ended February 28, 2001 compared to the same period of 2000. Net cash used in financing activities for the six months ending February 28, 2001 was $111,535 compared to $136,721 for the same period in fiscal 2000. This decrease is primarily due to the expiration of two capital leases in the first quarter of fiscal 2001 and the cash inflows during 2001 from the sale of common stock to employees under the employee stock purchase plan. Our purchase and retirement of common shares accounted for $100,000 and $87,500 of the cash used in financing activities for the six months ending February 28, 2001 and February 29, 2000, respectively.
We anticipate that operating cash flows will be adequate to meet our current obligations and current operating and capital requirements. The funding of long-term needs is dependent upon increased revenue and profitability and obtaining funds through outside debt and equity sources.
--------------------------------------------------------------------------------
Eniarrol, ATEL, another lesson learned...
It appears that the Business Plan and most PR's after the merger took place contained certain false statements, particularly with regards to Dr Lee, Qualcommtel and Financing.
I believe that efforts are under way to return to the situation pre-merger and cancel the shares issued to the shareholders of AccessTel. If it happens, then there is hope that the resulting shell can merge into a Bona Fide private business and that the shares will regain some value.
JMHO, F. Goelo + + +
What is the scam with Accesstel? Francois, I have followed your site for about a year and a half and am gratefull for all I have learned. I am very confused as to what has happened with Accesstel.This was a good company with a promising future.What has happened in your opinion that is dishonest here.I would very much appreciate a reply.
***¶***Weekly Economic Indicators & Second Guessing Grenspan....
WEEKLY UPDATE FOR: April 14, 2001 by Bob Bose
Prior Week in Review:
Financial Market Highlights:
============================
04/12/01 04/06/01 %Change
S&P 500 1,183.50 1,128.43 +4.88%
Dow Jones 10,125.12 9,791.09 +3.41%
NASD Comp 1,961.42 1,720.37 +14.01%
Russell 2000 455.02 434.66 +4.68%
SOX Index 597.92 487.53 +22.64%
Value Line 371.69 353.10 +5.27%
MS Growth 526.59 531.03 -.84%
MS Cyclical 511.63 488.65 +4.70%
T - Bill 3.89% 3.84% +5 BP
Long Bond 5.60% 5.46% +14 BP
Gold - Oz-Near Month $260.90 $260.90 UNCH
Silver - Oz-Near Month $4.37 $4.34 +$.03
Economic News:
==============
Financial Markets Outperform Economy Last Week
Economic Data Weak To Mixed - At Best - But
Second Half Recovery Still Very Likely
*Richmond FRB Index fell to -9 in March from +2
*March Producer Price Index -.1% - Core Rate,
Excluding Food & Energy, rose +.1%
*March Retail Sales fell -.2% - See Below
*Jobless Claims rose +9,000 to 392,000 - Four Week
Moving Average rose +3,000 to 380,500
*Business Inventories in February fell -.2% -
Sales fell -.3% - Inventory/Sales 1.37 months
*Univ. of Michigan Consumer Sentiment fell to 87.8
At mid month - End of March level was 91.5
Even a cursory glance at the above table illustrates
a great week for the stock market, with the modest
exception of steady growth, consumer stocks. The
implication is that market participants are discounting
a recovery, and prefer more cyclically exposed stocks.
Yet last week the economic data was just the opposite.
At best it was sloppy, implying either more time before
the recovery takes hold, say late this year, or that
the recovery will be shallow.
The worst bit of evidence was the Univ. of Michigan
Consumer Sentiment Survey, released on Friday when
the markets were closed. As noted above, it fell to
87.8 at mid-month, which is a notable change from the
end of March level. The problem, if confirmed by
subsequent reports, is that the directional change
reverses what had been an improvement in consumer
confidence. Perhaps it will be a "one shot deal", and
confidence will gradually improve. But, consumer
confidence right now is a very important variable, so
it bears close monitoring.
The other soft number was March retail sales, but
fortunately, as is often the case, the details are
important. Most importantly, the February report was
revised upward. Initially February retail sales
were reported to have declined by -.2%, but after the
revision, they were unchanged from January.
In addition, if one excludes the more volatile auto
sector, then sales declined -.2% in February but only
-.1% in March - in other words, no acceleration to the
downside. And, the weather was somewhat extreme. For
instance in Vermont, we had a record snowfall for March.
Granted, Vermont is not a big piece of retail sales, but
the weather was abnormal over much of the East Coast.
And then, Easter is late this year. Overall, then, a
modest negative that March sales were soft, but there is
simply too much noise in the data to place much emphasis
on that report.
There was also some good news, though. First, the Producer
Price Index was very well behaved overall, but more
importantly at the core level. Energy prices may drive the
index higher this summer, but so far it appears that prices
will not be a concern for the Federal Reserve Board (FRB).
And, the drop in Business Inventories was a plus, especially
so given the larger decline in sales. Obviously the near
term impact is negative, reducing first quarter growth, but
from the financial market's perspective what counts is the
increased probability of renewed growth. The sooner the
inventory imbalance is corrected, the better.
Overall, then, the economic reports were mixed, and soft.
Clearly one doesn't want to reply too much on one week's
data, but the consumer confidence report was troubling.
Hopefully it won't be confirmed by the Conference Board
report later this month. We'll see. But for now we still
believe that the best bet is a second half recovery.
Stay tuned, though, as it is quite likely that volatility
will remain bi-directional !
Current Weekly Calendar of Economic Data:
=========================================
Tuesday: Consumer Price Index, Housing Starts, Industrial Production/Capacity Utilization
Wednesday: Leading Indicators
Thursday: Jobless Claims
WTF, ATEL, very ugly is an understatement...
It's become clear that the entire business plan and execution so far have been akin to a scam... From what I have read, there is an effort underway to rescind the merger and save the Shell for a better deal... I believe the stock is best left alone for the time being...
JMHO, F. Goelo + + +
FG. I would love to hear your thoughts on ATEL. It has gotten pretty ugly.
WheresTheFill
Lynn, IFTP, yes Management is the Weak point...
there but they seem to be getting the house back in order with surprising results... If cash flow is positive, they should no longer have any need to raise additional capital by selling more shares...
There is a large short position, but at less than 8 cents, the Market Cap is around $16 million, based on 200 milion shares outstanding... That's 4 times earnings for ONE Quarter, only... Still, it's a very risky investment to be contemplated solely with money you can afford to lose...
BTW, I use the Backstroke often and find it a great product...
JMHO, F. Goelo + + +
Francois...I don't doubt they are breaking all these records on sales. It seems the ceo is a little underboard, and don't you think the shares they continue to manufacture is a little absurd. It seems to me that something is rotten in Denmark. If you have any ideas about this stock at this time, I'd appreciate them.
Lynn
In regards to second guessing Greenspan...
Check this link:
http://www.federalreserve.gov/boarddocs/meetings/2001/20010409/advancedexp.htm
***¶***Weekly Economic Indicators & Second Guessing Grenspan....
WEEKLY UPDATE FOR: April 7, 2001 by Bob Bose
Prior Week in Review:
Financial Market Highlights:
============================
04/06/01 03/30/01 %Change
S&P 500 1,128.43 1,160.33 -2.75%
Dow Jones 9,791.09 9,878.78 -.89%
NASD Comp 1,720.37 1,840.22 -6.51%
Russell 2000 434.66 450.53 -3.52%
SOX Index 487.53 545.04 -10.55%
Value Line 353.10 363.59 -2.89%
MS Growth 531.03 541.18 -1.88%
MS Cyclical 488.65 495.42 -1.37%
T - Bill 3.84% 4.18% -34 BP
Long Bond 5.46% 5.45% +1 BP
Gold - Oz-Near Month $260.90 $259.20 +$1.70
Silver - Oz-Near Month $4.34 $4.30 +$.04
Economic News:
==============
Last Week's Data Not As Bad As Assumed
Employment Reports Are A Lagging Indicator
Second Half Recovery Still Very Likely
*February Construction Spending rose +.6%
*Nat'l Purchasing Managers' Index rose to 43.1 in March
From February's level of 41.9 - See Below
*Factory Orders for February fell -.4%
*Jobless Claims rose +18,000 to 383,000 - Four Week
Moving Average rose +2,000 to 377,500
*Labor Department Employment Report
- Nonfarm Payrolls fell -86,000
- Unemployment Rate rose +.1% to 4.3%
- Average Workweek rose +.1/hr to 34.3/hr
- Average Hourly Earnings rose +.4% to $14.17
*Wholesale Inventories in February fell -.1%
*February Wholesale Sales eased -.2%
*Consumer Credit expanded $13.5 billion in February
At times one really has to love the reaction of
financial market participants to every bit of news.
First, there was the extremely positive reaction to
Dell's announcement that business wasn't getting
worse (in recent issues we had noted that lack of
more bad news is actually good news to Wall Street).
And second, there was the initial negative reaction
to Friday's Labor Department Report on employment
conditions in March. Both responses were overdone,
in our opinion, and a lot of good information from
anecdotal reports was ignored.
First, though, an official report - the National
Assn. of Purchasing Managers' Index. As noted above,
it increased by a small amount. Normally we wouldn't
think such a small increase is important, but the report
was directionally different from the week ago Chicago
Purchasing Managers' Index. True, a level below 50.0
implies a contracting economy, but the report does support
our view that the economy is "bouncing along the bottom",
and not decelerating further - even in the manufacturing
sector.
Further support for the manufacturing sector was reported
by the automobile industry. March sales, although down,
were better than expected, and still at very high levels.
For instance, if current "run rates" were maintained, the
industry would report its third or fourth best sales year
ever. Clearly not a disaster by any stretch of the
imagination. Obviously the inventory correction that we
had discussed before should be over for the auto industry.
And, if that is true, manufacturing should begin to recover.
In addition, the strength in auto sales also implies that
consumer confidence remains upbeat. I am stating the
obvious, but normally big ticket purchases, often financed
over multi-year periods, are not made unless consumers are
comfortable about their economic prospects. Viewed in the
context of other "consumer related reports", the message is
that consumer spending should continue to hold up well.
And then there were numerous speeches by various high ranking
Federal Reserve Board (FRB) officials - for the most part
making the same point. The message is clear - the FRB is
quite confident about the economy's prospects for the second
half, with some caution regarding energy prices and capital
spending. The implication, of course, is that they are therefore
less likely to lower rates intermeeting.
One other factor arguing for no action until the May meeting
was the "official burial" of the Greenspan Put that we have
discussed so often. Although I couldn't find the original
source, an item in Investors Business Daily reported that
Dallas FRB President McTeer said "There is a moral hazard
problem with investors taking the view that if things go wrong,
the Fed is always there to make it OK." R I P
And finally, the Labor Department Report. Clearly it wasn't
great, but it wasn't that bad either. First, employment data
is lagged, not forward looking. Problems in earnings can
build, so the wage data is important, but jobs, per se, are
a lagging indicator. So, the sharp drop in nonfarm payrolls
in March should not be of real concern, particularly as that
item is often subject to large revisions.
And, one final point is that the year-over-year increase in
wages was not a significant acceleration from the prior report,
and the National Purchasing Managers' Report had noted softening
prices. So, implications for FRB policy, from this Labor Report,
are not particularly meaningful.
Overall, then, our view hasn't changed. We continue to believe
the worst, for both the economy and financial markets, is behind
us. Obviously we can not rule out emotional reactions, or some
exogenous event. But, we like the risk/reward ratio for long
term investors with a strong emphasis on stock selection.
Stay tuned, though, as volatility is likely to remain high !
Current Weekly Calendar of Economic Data:
=========================================
Thursday: Jobless Claims, Retail Sales, Producer Price Index
Friday: GOOD FRIDAY - U. S. MARKETS CLOSED, Univ. of Michigan Consumer Sentiment, Business Inventories
JJ, yup, I'm holding the QQQ Puts...
through the weekend, as I see no reason why the market won't continue to tank, the way it finished the day on Friday...
Thanks for your Options Trades ideas... You may want to be more explicit for those who don't know anything about options...
JMHO, F. Goelo + + +
Yep, nice swings in the mkt last few days. You holing over the weekend on those puts? Am clear of the mkt right now. I like getting a few puts and calls to play, then going out into the mkt for finding others to trade around them.
KREM now climbing back up, could be a great put of the EKU QG, have to see if it gets above the 34.5 resitance, if so, then I'll wait for 40 resistance. May puts or further the way to go there with a p/e approaching 70, and shares coming off of ipo lockup.
Also, INRS-URU QD, broke through support level a few days ago, now filling into the bol. bands, could be a nice ride down.
MOT, shoulda got some calls on it late today, maybe mon. morning if it doesn't gap up too much. Also, MSFT, gonna get MSQ QL at $6 or lower and flip it out when the stock retreats from the top of its bands here.
GX, am waiting for capitulation for some calls, probably off of a warning within two weeks.
QCOM, as soon as the Chinese situation is resolved, should bounce, so have AAO EL on alert to grap for the swing.
Lots more, let me know what you find over the weekend on those inets.
imo
Nice SCRO profile put out by SA Advisory:
http://www.investorshub.com/beta/read_msg.asp?message_id=72374
imo
May Put QQQ Options QAVQF.X are UP 50%!...
http://www.siliconinvestor.com/stocktalk/msg.gsp?msgid=15628160
¶ DEFINITIONS of Market Technical Terms....
http://www.investorwords.com/b4.htm#breadth
Bernard, IFTP, once they are Cash Flow Positive,...
there is no more reason to sell stock for cash to make up loses... It seems to me that the first Quarter of Profit in a turn around situation is the hardest to achieve, so I expect them to maintain at least 2 cents EPS per Quarter for the rest of the Year... That would make the PE around 1, if it happens...
JMHO, F. Goelo + + +
Let's hope that they can keep it up without dilution.
signed,
Bernard
¶ IFTP: INFOTOPIA INC - Sets High For Quarterly Sales and Profits
New York, New York, Apr 06, 2001 (Market News Publishing via COMTEX) --
Infotopia, Inc., a direct response marketing and consumer product company,
announced its results for the first quarter ended March 31, 2001. Infotopia,
Inc. reported gross sales of $26.2 million, an increase of 3015% from $871,268,
for the first quarter of fiscal 2000.
Net income for the first quarter of 2001 was $3.4 million or $0.02 per diluted
share, up $4,934,633 from a loss of ($1,534,000) or ($0.10) loss per diluted
share for the first quarter of fiscal 2000.
Daniel Hoyng, Chairman and Chief Executive Officer, stated, "We are very pleased
with our record sales and profits for the first quarter of fiscal 2001. Despite
a slowing economic environment, we continue to see sustained sales growth across
our product lines Body by Jake, Bun & Thigh Rocker, Total Tiger, and Medicus
Dual 2000 as we leverage our strategic alliances and powerful brand names. We
are very pleased with the continued growth of our e-Commerce sales, which has
proven to be a strong complement to our television infomercials.
Sales of our Total Tiger and Medicus Dual 2000 are just beginning and the Body
by Jake; Bun & Thigh Rocker has not yet peaked with retail launch scheduled for
later this fiscal year. Infotopia, Inc. has demonstrated our ability to launch
new products through our successful strategic alliances and has many additional
products to launch for the balance of fiscal 2001. We are very excited about our
growth opportunities in 2001 and beyond."
ABOUT INFOTOPIA
The Company's mission is to produce, market, and distribute an expanding line of
high-quality, innovative health, fitness and consumer products. Infotopia seeks
out products that deliver superior value, outstanding quality, and competitive
prices to best satisfy customer demand. The Company markets its products to
consumers through a variety marketing channels, including infomercials,
distributor alliances, and Internet e-commerce. The management at Infotopia is
committed to increasing corporate revenues and profits. The company's website is
located at http://www.infotopia.tv.
This news release includes "forward-looking statements" that include risk and
uncertainties. The forward-looking statements in this release are made pursuant
to the safe harbor provisions of the Private Securities Litigation Reform Act of
1995. Actual results may differ materially due to a variety of factors,
including without limitation the Company's ability to produce and market
products and/or services and other risks detailed from time to time in their
Company's reports filed with the Securities Exchange Commission.
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QQQ Call Options bought @$2.00 peaked to $2.80...
and I sold half position yesterday @ 2.75 and the balance this morning... I bought the May 32 Put @ $1.45 this morning in anticipation of a substantial retracement... Had I bought them yesterday, I would have saved about 20 cents/option...
Disclaimer: I know next to nothing about Options trading...
JMHO, F. Goelo + + +
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