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With a little help fr5om a friend and from the PR firm
As stated in the Company's press release dated July 30, 2007, Manaris
redeemed the majority of the Notes and half the Warrants. The remaining
half of the Warrants remain with the holders of the Notes and have an
exercise price of $0.11 per share. While Manaris is pleased that the
redemption will serve to remove the extremely dilutive effect that the
outstanding Notes have had on Manaris' and its shareholders, as you
know, we cannot comment as to the effect of this redemption and the
outstanding warrants on the share price.
In addition, in response to your second query sent to Truc, Manaris felt
it was the right time to redeem some of the outstanding Notes and
Warrants.
However, we can confirm that the total Series Y and Z warrants went from
3,734,258 to 2,604,667 as a result of the redemption.
Best,
Dave
Of course there is the very relevant statement that says:
"If one does not learn from the past he is destined to repeat it"
I think you are on the right track Walter by paying very close attention to the Q and get a true number on remaining convertible debt. Have you ever called the CEO or the clearing house for Manaris? It is public information and although they can not give you an exact number they would be pretty darn close.
if we learn from the past we will probably never buy pennystocks again LOL
From my history class:
"We learn the past to have a better understanding of the future".
Steve
I am going to read very carefully the next report to find out about the remaining debt.
As a lot has changed since the last restructuring I do not have the courage to dig in the past. It is the future that I am interested in.
walterc: "but the question is ? Are manaris shares manipulated to keep them down."
I suppose anything is possible and if the share price was in fact being manipulated I would be very surprised if Fraser wasn't aware of it. The only thing that would make sense to me if that were the case, would be a private placement where it would be prearranged that a substantial investor would be willing to buy up convertible debt at specific price points then add additional capital into the company and receive warrants as an incentive. The rational being a private placement would not want be under cut by the CD bearer and as long as convertible debt is there it would be very difficult for Mararis to get new forms of capitalization IMO.
However, I still believe in all probability it is the CD bearer selling stock.
Iwas mailed on another board and independently from this discussion by an investor in Mans that everytime the price of Mans was going close to 0,11 usd and he had purchased shares almost the same second a small number of shares was sold at 0,09.and the shareprice closed lower.
He found that suspicuous and
He has given the result of his enquiry to the Rabobank with the request to have this investigated as he believes the stockprice is manipulated.
My brain is too small for this but the question is ? Are manaris shares manipulated to keep them down.
"One thing I learned from Mans: always have a (mental) stop loss."
Good advise Ben and a good rule for blue chips as well.
Thanks for your explanation. You are obveously more savy than I am in these matters.
All I can do, is hope for a good ER in september. I own about 70.000 shares @ everage of $0,22, so very small fish.
One thing I learned from Mans: always have a (mental) stop loss.
Ben1969:
"They must serve a very big client, who has much to win by a low price. Sound paranoya?"
No I don't think you sound paranoid. I just looked at this company for the first time yesterday. My guess would be that you have been experiencing dilution over the past couple of years from the convertible debt and that is who the "big client" is. This would in essence, be handled similar to a AON order where the CD bearer wants to unload X amount of stock.
The stock is sold in blocks and matched with mltiple buyers,the transaction goes through at that time. Usually in 5K+ blocks, and yes a MM like NITE can take advantage of the situation. Some might say, why sell now when the company looks like it might have a good Q coming out and the CD bearer could make more money? My answer would be that the CD bearer is probably making very good money right now at $.09 and made a great deal more when the SP was higher. As shareholders you might find that this isn't necessarily a bad thing for the long term shareholder especially if CEO Fraser can come up with additional cash to redeem the CD debt. Remember this is just an opinion.
Anyone on this board know what the terms of the CD's were? Fixed or variable/floating etc. and how much CD debt is actually left? You should be able to get a reasonable idea in the coming Q by what Manaris states as their O/S count.
I have been invested in MANS about 3 years now, waiting for the famous C-Chips to come to market. Ever since that time, believe me or not, when I watched level 2, as soon as the price shows signs of an upward movement, NITE and PERT show up and lower the ask. Every single time for 3 years. Just like today, when they managed to drop the price to 9 ct.
When I did some DD on NITE, I found out, that they were convicted of fradulous trading by the SEC, not once, but many times.
So, just watch them turn up on top of the ask and you can say "bye bye" to any surge to come. They must serve a very big client, who has much to win by a low price. Sound paranoya? Watch and learn.....
"are we being screwed by MM? Views?"
Ben1949: I can't tell you how many times I have asked myself the same question LOL. IMO, a lot has to do with making a market and one thing you do not see on L2 are AON's or all or none fills which get masked and may sit there until they accumulate enough shares to fill that particular AON order. This gets compounded further when you do not have sufficient volume traded in a stock. Even though 342,500 shares were traded, that's not a whole heck of a lot and I suspect someone wanted out and was using a AON and got filled around the same time as your trade. If that makes any sense?
OCBB is rigged.
Today I put in 2 orders to buy 1000 shares of Mans @ 0,11.
At the same time as my order went through @0,11, a simular order was proceded to sell @0,10. So my order did't even appear on the ticker. This happende twice. Now tell me: are we being screwed by MM? Views?
Ben
P.S.
Check level 2 of todays' trades. My orders were wiped out in the same second.
Press Release Source: Manaris Corporation
Avensys Inc. Enters Into Exclusive Distribution Agreement
Thursday August 23, 8:00 am ET
Avensys Solutions Becomes Canadian Distributor for Environnement S.A (France)
MONTREAL, Aug. 23 /PRNewswire-FirstCall/ -- Manaris Corporation (OTC Bulletin Board: MANS; Frankfurt WKN: A0F5LD), the publicly-traded holding company of Avensys Inc., a leading manufacturer and distributor of fiber optic components and integrator of instrumentation and turn-key systems for environmental monitoring, today announced that Avensys Solutions, a division of Avensys Inc., has entered into an exclusive distribution agreement with Environnement S.A., a leading manufacturer of Air Monitoring Instrumentation for ambient air monitoring, industrial emissions monitoring, water quality and engine gas monitoring.
ADVERTISEMENT
Since its creation in 1978, Environnement S.A., a publicly traded French company since January 2006, has been dedicated to the study, development, manufacture and supply of instrumentation integrating leading edge technologies and dedicated to assessing and measuring the impact of human activities on our ecosystems. Environnement S.A. also owns 100% of a U.S. subsidiary, Altech Environment USA Corp., that provides turn-key Continuous Emission Monitoring solutions to the U.S. market.
Pierre Michaud, Senior Director, Products and Solutions at Avensys Solutions, said, "This distribution agreement positions Avensys Solutions as Environnement S.A.'s exclusive Canadian distributor and further reinforces Avensys' ability to provide turn-key solutions to the Canadian industrial markets. By leveraging Altech's considerable experience and know-how, Avensys Solutions is well positioned to take advantage of the growing Continuous Emission Monitoring market in Canada."
Alain Randget, Director-Business Development for Environnement S.A., added, "We are very pleased to enter into this distribution agreement with Avensys Solutions. We believe that Avensys' outstanding customer service and highly competent sales and engineering team will lead to increased sales and the successful implementation of new systems in Canada."
Mr. Michaud concluded, "We are very excited about this new relationship as it represents a key milestone for Avensys Solutions as we continue to focus our growth efforts around Green House Effect Gases Monitoring through our Integrated Solutions team."
About Avensys Inc.
Avensys Inc. is a wholly owned subsidiary of Manaris Corporation (OTC Bulletin Board: MANS; Frankfurt WKN: A0F5LD). Avensys, through its manufacturing division Avensys Technologies, designs, manufactures, distributes, and markets high reliability optical components and modules as well as FBGs for the telecom market and high power devices and sub-assemblies for the industrial market. Avensys is also a pioneer in the development of packaged fiber-based sensors and instrumentation and possesses leading edge intellectual property. Avensys Solutions is an industry leader in providing environmental monitoring solutions for air, water and soil, as well as geostructure in the Canadian marketplace. For more information, please visit www.avensys.com.
About Environnement S.A.
Environnement S.A is a leading company in the fields of on-line gas, dust and water analysis instrumentation. With operations in more than 70 countries, Environnement S.A spans all aspects of the instrumentation of the environment from design to service. For more information, please visit www.environnement-sa.com
Forward-Looking Statements:
Except for historical information contained herein, the statements in this news release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause a company's actual results, performance and achievement in the future to differ materially from forecasted results, performance, and achievement. These risks and uncertainties are described in the Company's periodic filings with the Securities and Exchange Commission. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company's plans or expectations.
--------------------------------------------------------------------------------
Source: Manaris Corporation
NEWS OUT!!
Avensys Inc. Enters Into Exclusive Distribution AgreementLast update: 8/23/2007 8:00:00 AMAvensys Solutions Becomes Canadian Distributor for Environnement S.A (France) MONTREAL, Aug 23, 2007 /PRNewswire-FirstCall via COMTEX/ -- Manaris Corporation (MANS), the publicly-traded holding company of Avensys Inc., a leading manufacturer and distributor of fiber optic components and integrator of instrumentation and turn-key systems for environmental monitoring, today announced that Avensys Solutions, a division of Avensys Inc., has entered into an exclusive distribution agreement with Environnement S.A., a leading manufacturer of Air Monitoring Instrumentation for ambient air monitoring, industrial emissions monitoring, water quality and engine gas monitoring. Since its creation in 1978, Environnement S.A., a publicly traded French company since January 2006, has been dedicated to the study, development, manufacture and supply of instrumentation integrating leading edge technologies and dedicated to assessing and measuring the impact of human activities on our ecosystems. Environnement S.A. also owns 100% of a U.S. subsidiary, Altech Environment USA Corp., that provides turn-key Continuous Emission Monitoring solutions to the U.S. market. Pierre Michaud, Senior Director, Products and Solutions at Avensys Solutions, said, "This distribution agreement positions Avensys Solutions as Environnement S.A.'s exclusive Canadian distributor and further reinforces Avensys' ability to provide turn-key solutions to the Canadian industrial markets. By leveraging Altech's considerable experience and know-how, Avensys Solutions is well positioned to take advantage of the growing Continuous Emission Monitoring market in Canada." Alain Randget, Director-Business Development for Environnement S.A., added, "We are very pleased to enter into this distribution agreement with Avensys Solutions. We believe that Avensys' outstanding customer service and highly competent sales and engineering team will lead to increased sales and the successful implementation of new systems in Canada." Mr. Michaud concluded, "We are very excited about this new relationship as it represents a key milestone for Avensys Solutions as we continue to focus our growth efforts around Green House Effect Gases Monitoring through our Integrated Solutions team." About Avensys Inc. Avensys Inc. is a wholly owned subsidiary of Manaris Corporation (MANS). Avensys, through its manufacturing division Avensys Technologies, designs, manufactures, distributes, and markets high reliability optical components and modules as well as FBGs for the telecom market and high power devices and sub-assemblies for the industrial market. Avensys is also a pioneer in the development of packaged fiber-based sensors and instrumentation and possesses leading edge intellectual property. Avensys Solutions is an industry leader in providing environmental monitoring solutions for air, water and soil, as well as geostructure in the Canadian marketplace. For more information, please visit . About Environnement S.A. Environnement S.A is a leading company in the fields of on-line gas, dust and water analysis instrumentation. With operations in more than 70 countries, Environnement S.A spans all aspects of the instrumentation of the environment from design to service. For more information, please visit Forward-Looking Statements: Except for historical information contained herein, the statements in this news release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause a company's actual results, performance and achievement in the future to differ materially from forecasted results, performance, and achievement. These risks and uncertainties are described in the Company's periodic filings with the Securities and Exchange Commission. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company's plans or expectations. SOURCE Manaris Corporation
Truc Nguyen, Deputy Managing Director of The Global Consulting Group,+1-646-284-9418, tnguyen@hfgcg.comCopyright (C) 2007 PR Newswire. All rights reserved Copyright © 2007 MarketWatch, Inc. All rights reserved. Please see our Terms of Use.
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Well, as far as understanding the business, that's a bit of a stretch. I just try to identify their core competency and work from there. I would tell you that if your impression of Fraser is correct that is half the battle right there. Integrity is a precious commodity on the OTC. From there it is a matter of an effective business model and execution. Manaris appears to be worth keeping an eye on and I would be very interested to see where in the optical components mix the revenues are coming from. C Chip well, if they could develop a profitable business and establish multiple clientele might make for a good spinoff/sale at some point to further expand Avensys and build on their core competency.
extremely good analysis jmack and indeed the next reporting which will be sometimes in the middle of September should be very revealing as much as the next conference call.
It amazes me how fast you understand the business they are in.
I think they are somewhat ahead of TXPO in that they have disclosed their annual growth rate in this video.( and I believe john Fraser) for the next three years. John is a very prudent CEO and he will not disclose things if he is not sure of himself. I had him once on the phone and he came over as somebody with high ethics. I know he hates the shareprice at this time but you will not hear him forecast a shareprice. He wants the shareprice to be a result of the facts and he says investors will find out what the facts are and the results will speak for itself.He will only say something when there is real news and not try to pump the shares, In that I think he is different from other CEO's in OTCB companies.
I know that some of these are subjective reasons , but I think these may make the difference why one wants to invest.,
Also the fact that he was a Vice President in Canada with KPMG( I believe in consulting) makes me believe he is at an higher level than average, I was a partner with Coopers & lybrand in Belgium and I know that if you have been at that level ,you are not going to waste your time in something that is not worth it.
The PR firm refused to help me to set up this board as their lawyers advised them to be neutral to these kind of boards.It is a pity but I accept this as it sound logic
walterc: After doing some quick due diligence it appears that Manaris's success is incumbent on Avensys division and in particular, Avensys's acquisition of ITF Labs. As you probably know they are in a highly competitive field with respect to optical components and competing against some very large players. So the question becomes:
1. How does Manaris/Avensys compete?
2. What are the chances of success?
IMO, in order for Manaris to compete in this environment they have to be extremely inovative and produce components that will have significant demand, patent protected with reasonable margins and quick pay back on R&D expenses. They appear to be doing research and development in a particularly interesting area of Ultra Wide Band (UWB) with product such as "Low-Loss S-, C- and L-band Differential Phase Shift Keying Demodulator". They are also active in low power applications and high power laser apps. What the heck does that mean you ask LOL!
"Due to the extremely low emission levels currently allowed by regulatory agencies, UWB systems tend to be short-range and indoors. However, due to the short duration of the UWB pulses, it is easier to engineer extremely high data rates, and data rate can be readily traded for range by simply aggregating pulse energy per data bit using either simple integration or by coding techniques. Conventional OFDM technology can also be used subject to the minimum bandwidth requirement of the regulations. High data rate UWB can enable wireless monitors, the efficient transfer of data from digital camcorders, wireless printing of digital pictures from a camera without the need for an intervening personal computer, and the transfer of files among cell phone handsets and other handheld devices like personal digital audio and video players.
UWB is used as a part of LOCATION SYSTEMS and REAL TIME location systems. The precision capabilities combined with the very low power makes it ideal for certain radio frequency sensitive environments such as hospitals and healthcare. Another benefit of UWB is the short broadcast time which enables implementers of the technology to install orders of magnitude more transmitter tags in an environment relative to competitive technologies. USA based Parco Merged Media Corporation was the first systems developer to deploy a commercial version of this system in a Washington, DC hospital.
UWB is also used in "see-through-the-wall" precision radar imaging technology, precision positioning and tracking (using distance measurements between radios), and precision time-of-arrival-based localization approaches. [1] It exhibits excellent efficiency with a spatial capacity of approximately 10,000,000,000,000 bit/s/m².[citation needed]
UWB is a possible technology for use in PERSONAL AREA NETWORKS and appears in IEEE 802.15.3a draft PAN standard.
Essentially walter what this means is supplying optical components for short range applications such as tracking, monitoring, possible residential wireless networks bringing Voice-Vidio-Data together phone, TV, computer interactive and controlled by one device. Avensys/IFT are working on a number of optical components so it comes down to whether the components they bring to market will be unique, readily accepted and significant demand.
http://www.itflabs.com/ITFLabs/Articles.php?locale=en&Type_No=11
Manaris's success is dependent on two major factors.
1. Increasing demand for Avensys/ITF components with significant technology break throughs, enhancements and the ability to meet those demands if they were to occur.
2. CEO Fraser has to continue to execute and in particular clean up the debt structure IE convertible debt and tie up the lose ends on lines of credit. It would appear he is in the process and making headway and I would suspect that the next Q report should be very revealing and address these two points.
Just like TXP Manaris is essentially a startup company that is positioning itself in a potentially lucrative market but has to pay close attention to debt.
Webcast Alert: Manaris Corporation-Telecom and Technology On-Line Forum
I noticed you cannot open the website on my previous message and probably als not this one which leads you to the video from the CEO
You can find all these pr's on the Yahoo finance website if you are interested.
Hello Jmack It makes me happy to see you on this board as this assures me of serious due dilligence work .
In respect of your questions I have forwarded your questions to the pr firm in the hope that they help me to better answer you than I ever could. I know Manaris was in a financing arrangement which was higly dillutive but they managed to solve that problem. On the financial side I think part or maybe the whole of the answer is in this pr of July 30
• Manaris Redeems Majority of Series B Convertible Notes . I think with this agreement Manaris made an end to the extremely dilutive financing arrangements of the past and have set themselves up for the future. These past arrangements were to me the primary cause of the drop in shareprice to as low as 0,6 usd per share.
As for the products of Manaris that drive the business it is again very technical and as you know these are not my skills.
If I do not have an answer within a normal time frame from the company I will make up somsthing myself.
Manaris has a whole history behind them which every investor should know from the C Chips to the fiber lasers but that will take some time.(I do not know how to start). The main reason why I am in and increased my number of shares is the quality of the CEO.This company was close to bankruptcy when he took over and is now ready to take off.I tanked at0.6 usd per share to bring my average price down)
In a way they are further than TXPO as they have had their first profitable quarter and are heading to 100 million turnover in 3 years time.(according to a video message of the CEO John Fraser)
John Fraser to me is somebody who is only making forecast public when he knows he is going to realise it, In fact Manaris is profitable one quarter earlier than promised.
I hope I can dig up the video somewhere
I will be back on this
Hi Walter, decided to checkout Manaris and was hoping you can fill in any info I should be aware of. After a quick read of the financials it appears that:
Fiscal Year July-June
A/S = 500M
0/S = 81,591,866
Warrants average weighted 6M @ $.51 Range .09-.80
Two operating divisions:
1. Avensys = Optical components & sensors. (primary Revenue)
2. C Chip = Engine Kill switches for sub prime car market revenues derived by royalty payments
Revenues increasing 57.4% YOY
Gross margins currently 30.6% 9Mo YOY
Small Net Profit $32K 9Mo YOY
Cash on hand $984K 124% increase YOY
Note: Appears C Chip owed money to a former supplier and is currently being paid off in royalty revenues approx. Balance owed $ ?
Note: Derivative financing was used by Avensys to acquire ITF $654 cash $872 common stock @ a fixed $.34 SP.
Convertible debt:
Unsecured convertible debt $3.2M 12% & 15% maturity 2011
"The Company has incurred significant losses since inception and has relied on non-operational sources of financing to fund operations and, as at March 31, 2007, had not respected a certain loan covenant."
Question: What is the loan covenant that wasn't honored? Looks like Avensys defaulted on a $1.1M line of credit?
On balance it appears Manaris is starting to make money. Can you tell me more about Avensys and what are the optical components and sensors that are driving the majority of Manaris's revenues?
you tell me steve. If you tell me that tdon is not safe I will changeover to Mans and TXPO.
But from what I read ,tdon is a long term bet.Do we not have to wait the results of the first prototype? But this is a discussion for the tdon board
Good Walter,
I'll try to get exited but I'm constanly looking if my position in TDON is a safe bet. Lately I'm not so hot on it, maybe I can switch to Manaris.
Whoops. I find myself now as the moderator for Manaris. I own about 332000 shares of this company at an average purchase price of usd 0,21. Mij first purchase was at 1 usd some 3 years ago. The shareprice went down as low as 0.06 usd and is now at 0,10. I accumulated constantly.
The company has a turbulent past ,but the present CEO a former KPMG vice president in Canada has completely turned around the situation and has its first (small)positive quarter both in profits and operating cash flow.
I am especially positive about the performance since the new CEO John Fraser took over. He always has executed what he promised. He expects a growth in turnover of 85 % coming from the expected 18 millions this year to over 100 millions in 3 years time.
Together with TXPO , this is my favourite pick for the following 3 years. I think both have excellent management and exciting products.
Manaris recently obtained better financing , I think the future looks bright and the present share price is only a fraction of what it should be (even with current turnover) The problem seems to restore investors confidence
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