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There is no dilution. They increased the authorized shares, not the shares outstanding.
Okay but how does this affect us now coming into the end of the quarter? Should we expect a bump when news comes out or is price becoming the expected value? Weird to me how a few months ago everyone was all crazy about the company because of how much more potential this company had in comparison to competitors. Now looks like it's a sitting duck. Didn't maintain support levels and unfortunately looks like there's no bottom. If anyone has any REAL information and not speculation it would be greatly appreciated.
Authorized shares, outstanding shares, and float are different things. I already knew they were going to in A/S. They said it in filing months ago.
XFN http://biz.yahoo.com/e/111230/xfn8-k.html - 3) A proposal to approve an amendment to the Company's Articles of Incorporation, as amended (the "Articles of Incorporation") whereby the Articles of Incorporation will be amended to provide for an authorized capital of 150,000,000 shares of common stock $0.001 par value per share. The voting results were as follows:
For Against Abstained
27,775,573 8,222,034 43,208
The foregoing increase in the Company's authorized capital will become effective upon the filing by the Company of a Certificate of Amendment to the Articles of Incorporation with the Nevada Secretary of State.
They didn't increase the Shares they authorized. Completely different now it seems you have an Agenda.
XFN INCREASES Shares by 150,000,000 At meeting
Low floater gone
NICE TURN AROUND ON THE .40 STOP LOSS BOUNCE
Not just "sitting" anymore, .36 down 12% sucks
XFN needs a PR or something...its just sitting waiting to explode
--MT--yaaa neverr know if that Target will be eaten down.lol.It's all Speculation!!!
Merry Trading Bro!!!
BAC ATM will be happy rest of the week!!!jmhtto
SPY $80-.$82. How you like that? lol
Bro just wondering where you get those PERFECT numbers from? lololol
No worries in for the long term like the prospects your right no volume.
XFN..Not for DayTraders,Anemic Volume,jmhtto Good luck to you
Ask is thinning out
Looks like you struck out there OLD MAN better luck next time. She is gonna run today!
you gonna try and slash it?
will neevr get their old man
nice attempt though mini lebed
Nice find. We need to be patient with this one. something is brewing behind the scene
Yes CJ....after the bell around 4:18. Fifth insider buy since November :)
Wow! XFN Options acquired
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=7958493
Something is going here with all recent inside acquisitions IMO
YUP. Run for the hills because this thing is falling! GGRRRRRRR
Well then hopefully we see the same thing here. I know a lot of people had the expectation of hitting .9 (including me). Not sure where the momentum went...
same company. didn't price bc it's not in U.S. dollars
Not the same company right? Difference in prices!??! Someone explain.
XFN up big in tel aviv today
http://finance.yahoo.com/q?s=xfn.ta&ql=1
glad I'm out...what a cr*p day.
The bonds were issued with 8% interest rate, but are now trading between 20-25%. It does not mean that the company will have to pay this, just that most of investors think it won't be able to pay the original bonds back, and there for it is a very risky investment. That is also what the rating company says (Baa3 negative).
I can send you the page showing that, but it is all in hebrew so i guess it won't help you a lot
I don't know where you got the 25% yield at but the bond interest is much lower than that..
The Series A Bonds
On December 13, 2007 (the “Date of Issuance”), we issued non-convertible bonds to Israeli institutional investors, for total gross proceeds of NIS 100,382,100 (approximately $25,562,032, based on the exchange rate as of December 13, 2007) (the “Series A Bonds”).
The Series A Bonds accrue annual interest that is paid semi-annually on the 1st of June and on the 1st of December of every year from 2008 until 2015 (inclusive). The principal of the Series A Bonds is repaid in eight equal annual payments on the 1st of December of every year from 2008 until 2015 (inclusive). The principal and interest of the Series A Bonds are linked to the Israeli CPI.
On November 4, 2008, we filed a public prospectus (the “Prospectus”) with the Israel Securities Authority (the “ISA”) and the Tel Aviv Stock Exchange ("TASE") for listing of the Series A Bonds for trading on the TASE. On November 11, 2008 (the “Date of Listing”), the Series A Bonds commenced trading on the TASE. From the Date of Issuance until the Date of Listing, the Series A Bonds accrued annual interest at a rate of 9%. As of the Date of Listing, the interest rate for the unpaid balance of the Series A Bonds was reduced by 1% to an annual interest rate of 8%.
The Series A Bonds may only be traded in Israel. The Series A Bonds are currently rated Baa3 with a negative outlook by Midroog Limited, an Israeli rating company which is a subsidiary of Moody’s Investor Services.
On March 25, 2008, we issued the holders of the Series A Bonds, for no additional consideration, 956,020 (non-tradable) warrants, each exercisable at an exercise price of $3.50 with a term of 4 years, commencing on September 2, 2008.
You don't need to understand much of the bond market, just that 25% yield(usually referred to as "garbage yield")means that a lot of investors are very skeptical if the company will be able to pay its debts, so is the rating company that downgraded the bonds.
The company business is actually shrinking, not growing, the only growth is in the small FTTP segment, and that don't seem to cover the financial expenses, you can look in all previous reports.
All the insiders that participated in the rights offering did it to save their previous investment from bankruptcy. Even so, having all the information needed, they didn't agree to pay more than 0.3$ for a share a month ago. Without any news, I don't see why you should pay double a month later
Our time is close COOLGUY.
lol yea i just realized that i check it too, hopefully next week it does reach that price
Only a 100 share form T after the close....nothing to it.....when I checked my XFN position at the end of the day I was initially excited...but just a false alarm.
what just happend at the end jump to 80s, ?? is it normal
Stock has potential. Low volume. rising price. Upward trend line. Looks to be under valued. Even with any min amount of volume increase the stock spikes, retraces and builds again. I wouldn't be surprised to see it over $.75 soon.
I guess every one has an opinion, I my self have done quite well with the guy from the other board, I really think you should pay closer attention to the charts if you are not doing well. XFN is moving up and in my opinion will continue to move, but there again its just my opinion
I don't have much understand of the bond market to exchange conversion with you but I do know that the right offering raise $6 millions in cash and there is no interest on it. 96% of the shareholders double up on their holding in the right offer. I wouldn't do that if I don't believe in the company growth and future prospects. They recently completed an acquisition adding 1800 more customers. The company is growing. We can debate all we want on this message board but it won't equate to much. I believe in the 96% shareholders that double up their holding.
nice talking to you.
They took the loan (12.75% interest!) and did the right offering just to be able to pay this year (1/12/2011) bond payment, they had no other choice (and also the bonds where downgraded and still trade around 25% yield!). They still have to pay for the next 4 years, around 5 million Dollar every year
That's Right, but they are still trading in Tel Aviv, and more important, have to pay there in Shekels their bonds for the enormous sum of almost 20 million Dollars, arond the same as there total equity! those bonds bear 8% interest and are linked to the inflation in Israel, which usually is another 3%, last quarter (0% inflation) was a rare one
They took the loan and did right offering to refinance their short term debts, pay off bonds in Israeli, and cash for operations.
I believe the company discontinue there UK and Israel subsidiaries.
As of January 1, 2010, the Company has one reporting segment. The Company's operations in the United Kingdom and Israel are reported as discontinued operations (Note 1C and 1D).
Selling, General and Administrative Expenses. Selling expenses consist primarily of compensation costs for our sales, administrative and management employees. Selling, general and administrative expenses for the nine months period ended September 30, 2011, decreased 12.2% to $15,730,833 from $17,910,714 for the same period in 2010. The decrease in the expenses resulted mainly from reduction in personnel and savings in the corporate expenses as a result of the divestiture of the UK and Israeli operations in addition to the decrease in payroll and sales commission. General and administrative expenses include stock options compensation which relates to stock options that were granted to our employees and directors and vest during the reported period. Total stock option compensation in the nine months ended September 30, 2011 decreased by $369,318 (or 69.0%) to $166,194 from $535,512 for the same period in 2010.
They won't be profitable next quarter, at least not significally, like they didn't before. In the last quarter the Israeli Shekel fell against the Dollar around 10% and there was zero iflation in Israel so they had financial income of more than 400,000$, Usually they have financial expense of 1.5-2.2 million Dollar per quarter which makes them lose money constantly. That's why they had to take just lately this big loan bearing interest of 12.75%! which of course won't make it any better...
http://biz.yahoo.com/e/111006/xfn8-k.html
Glad to see life, looks like XFN is getting ready for a nice run
I'm home switching between AM.. and WAM..EOM
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XFONE, Inc. is a growing telecommunications publicly traded company (NYSE Alternext (formerly AMEX) and TASE: XFN). The company has operations in the United States offering a wide range of services, which include: local, long distance and international telephony services; prepaid and postpaid calling cards; Internet services; messaging services (Email/Fax Broadcast, Email2Fax and Cyber-Number); and reselling opportunities.
Its operating division, NTS Communications (a wholly-owned subsidiary of Xfone, Inc.) is a facilities-based Fiber-to-the-premise "Triple Play" carrier with operations in the Southwest and Gulf Coast region of the United States. NTS provides local, broadband, video, long distance and international telephony services. Xfone is a provider of high speed broadband services, including Internet access, digital cable TV programming and local and long distance telephone service to residential and business customers in northern Texas and southeastern Louisiana. Xfone's Fiber-To-The-Premise (FTTP) network provides one of the fastest internet connections available. The Company currently has operations in Texas, Mississippi and Louisiana and also serves customers in Arizona, Colorado, Kansas, New Mexico and Oklahoma. For the company's website, please visit: www.xfone.com.
MANAGEMENT & BOARD OF DIRECTORS
Guy Nissenson
President, Chief Executive Officer, Director
Mr. Guy Nissenson has been XFONE's President, Chief Executive Officer, and Director since its inception. Mr. Nissenson joined Swiftnet, Ltd. in October 1999 and became a Director of Swiftnet, Ltd. in May 2000 and later its Managing Director in October 2003. He was a marketing manager of RADA Electronics Industries in Israel from May 1997 to October 1998. Mr. Nissenson was an audit and control officer with the rank of Lieutenant of the Israeli Defense Forces - Central Drafting Base and other posts from March 1993 to May 1997. In July 2000, Guy Nissenson received a Bachelor of Science Degree in Business Management from Kings College - University of London and in September 2001, received a Master of Business Administration (MBA) in International Business from Royal Holloway at the University of London in London, United Kingdom.
HEAD OFFICE
Xfone, Inc.
5307 W Loop 289
Lubbock, TX 79414
USA
Phone: ( 806) 771-5212, Fax: (806) 788-3398
www.xfone.com
Revenue Q3
Revenue from the Company's Fiber-To-The-Premise (FTTP) business grew 30% to $3.4 million in the quarter ended September 30, 2011, as compared to approximately $2.6 million in the third quarter of 2010. Sequentially, FTTP revenues increased 12.4% as compared to the second quarter of 2011. FTTP revenues represented 23.4% of total revenues for the third quarter of 2011 as compared to 17.6% of total revenues for the third quarter of 2010.
Consolidated revenues for the quarter ended September 30, 2011 were $14.6 million, a decrease of 2.5%, compared to $15.0 million in the quarter ended September 30, 2010 but up 3.6% from $14.1 million in the second quarter of 2011. The year over year revenue decline is related to attrition in non-FTTP residential customers and legacy wholesale business.
For the first nine months of 2011, revenue from the Company's FTTP business grew 29% to $9.4 million from $7.3 million in the first nine months of 2010. Consolidated revenues for the nine months ended September 30, 2011 were $43 million, a decrease of 2.3% compared to consolidated revenues of $44.0 million in the nine months ended September 30, 2010.
Customer Expansion
The Company's total number of FTTP customers as of September 30, 2011 was 6,620 compared to 5,433 FTTP customers as of September 30, 2010 with sequential growth of 8% from 6,111 FTTP customers as of June 30, 2011.
Average Revenue Per User (ARPU) for all of the Company's fiber markets is approximately $392 per month for business customers and approximately $95 per month for residential customers.
Xfone has continued to make progress on construction of its PRIDE Network, a project almost entirely financed by $99.9 million in funds from the Federal Broadband Stimulus Program, of which 45.9% is in the form of grants and 54.1% is in the form of low cost long-term loans. Following the end of the quarter, the Company signed its first PRIDE Network customers in Brownfield and Whitharel, Texas.
During the quarter, Xfone announced the acquisition of Reach Broadband's approximately 1,800 cable customers and equipment in Brownfield, Anton, Abernathy, Hale Center, Idalou, O'Donnell, Olton and Tahoka, Texas. The transaction is expected to close, pending various approvals, on December 1, 2011. This transaction complements the acquisition of Cobridge Telecom which included approximately 2,400 cable customers and was closed on July 1, 2011. Cobridge contributed revenues to the Company's non-FTTP results in the third quarter of 2011. Xfone plans to offer these non-FTTP customers the opportunity to upgrade their service to include high speed internet, voice and enhanced video services.
New Market Progress
During the quarter, Xfone brought its FTTP network to two new markets, Burkburnett and Brownfield, Texas and has seen robust customer acceptance of the Company's triple play offering. Likewise, Xfone continued to make excellent progress in the Littlefield, Texas market where it established its FTTP network during the second quarter and has sold to more than 30% of that market as of the end of the third quarter.
Click Here to View FTTP Trendline Charts
EBITDAS
EBITDAS (earnings before interest, taxes, depreciation, amortization and stock-based compensation) for the third quarter of 2011 was $2.4 million, a 23.9% increase over the same quarter last year and a 12.5% increase sequentially when compared to the second quarter of 2011. EBITDAS margin in the quarter ended September 30, 2011 was 16.2% compared to EBITDAS margin of 12.7% for the quarter ended September 30, 2010.
Net Income
The Company had net income of $871,000 or $0.04 per diluted share assuming 21,119,488 shares outstanding for the quarter ended September 30, 2011 compared to a net loss from continued operations of $1.5 million or a loss of $0.07 per diluted share assuming 21,169,288 shares outstanding for the quarter ended September 30, 2010.
For the nine months ended September 30, 2011, the Company reported a net loss from continued operations of $443,000 or a loss of $0.02 per diluted share, assuming 21,119,488 shares outstanding compared to a net loss of $2 million or a loss of $0.10 per diluted share, assuming 20,295,714 shares outstanding for the nine months ended September 30, 2010.
The Company recorded a net financing income of $421,000 for the three months ended September 30, 2011 compared to net financing expense of $2.3 million in the three months ended September 30, 2010. The net financing benefit is related to the valuation of the U.S. Dollar to the New Israeli Shekel.
Balance Sheet
Following the close of the third quarter, Xfone announced that it had raised $6 million in a successful rights offering to shareholders. Taking into account the oversubscription privileges, there was a demand for 95% of the offered shares. In connection with the consummation of the rights offering, on November 2, 2011, the Company issued 20,067,108 shares of its common stock at a purchase price of $0.30 per share.
In addition, also subsequent to the close of the quarter, Xfone received long-term funding of $7.5 million related to its loan agreement with ICON Agent LLC. This financing will be used in part to pay off the Company's short term debt.
Mr. Guy Nissenson, Xfone's President and CEO, commented, "The build out of our high margin fiber network is proceeding on schedule and below budget. We are particularly pleased by the acceptance rate for our services in our new market, Littlefield, Texas where we've sold to more than 30% of that market since we launched in June. Likewise, we have made strategic customer base acquisitions to further augment our organic growth through the addition of the cable customers of Cobridge Telecommunications last quarter and through the anticipated close of Reach Broadband next month.
"We are very pleased to have recently completed our rights offering, which resulted in raising approximately $6 million for our Company. The successful completion of the rights offering and the funding of our $7.5 million loan agreement with ICON, significantly strengthens our capital structure and enhances our liquidity. This funding has dramatically fortified our working capital and we intend to use the additional resources to pay down our debt and to expand our FTTP sales and marketing efforts with the goal of increasing our presence in new and existing markets."
Average volume | 398.42k |
---|---|
Shares outstanding | 41.19m |
Free float | 29.24m |
P/E (TTM) | -- |
Market cap | 23.11m USD |
Xfone, Inc. and Subsidiaries | ||||||||||||||||
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||||||||||||
(Unaudited) | ||||||||||||||||
Three months ended | Nine months ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
2011 | 2010 | 2011 | 2010 | |||||||||||||
Revenues | ||||||||||||||||
Services on Fiber-To-The-Premise network | $ | 3,417,271 | $ | 2,634,074 | $ | 9,403,832 | $ | 7,288,042 | ||||||||
Leased local loop services and other | 11,184,371 | 12,344,483 | 33,554,184 | 36,677,512 | ||||||||||||
Total Revenues | 14,601,642 | 14,978,557 | 42,958,016 | 43,965,554 | ||||||||||||
Expenses | ||||||||||||||||
Cost of services (excluding depreciation and amortization shown below) | 7,063,847 | 7,169,583 | 20,925,151 | 21,354,450 | ||||||||||||
Selling, general and administrative | 5,202,866 | 5,988,544 | 15,730,833 | 17,910,714 | ||||||||||||
Depreciation and amortization | 1,453,983 | 1,091,206 | 3,850,446 | 3,144,840 | ||||||||||||
Financing expenses (income), net | (421,121 | ) | 2,340,159 | 2,831,573 | 3,597,274 | |||||||||||
Other expenses | 115,453 | 159,712 | 405,299 | 453,048 | ||||||||||||
Total Expenses | 13,415,028 | 16,749,204 | 43,743,302 | 46,460,326 | ||||||||||||
Income(loss) from continued operations before taxes and non-controlling interest |
1,186,614 | (1,770,647 | ) | (785,286 | ) | (2,494,772 | ) | |||||||||
Income tax benefit (expense) | (177,952 | ) | 250,690 | 342,567 | 503,306 | |||||||||||
Net Income (loss) from continued operations | 1,008,662 | (1,519,957 | ) | (442,719 | ) | (1,991,466 | ) | |||||||||
Income (loss) from discontinued operations in the United Kingdom and Israel, before taxes | (137,535 | ) | (957,320 | ) | (137,535 | ) | (862,444 | ) | ||||||||
Capital gain from the disposal of the discontinued operations in the United Kingdom and Israel | - | 1,217,374 | - | 1,217,374 | ||||||||||||
Income tax expense on discontinued operations in the United Kingdom and Israel | - | (4,040 | ) | - | (189,295 | ) | ||||||||||
Net income (loss) | 871,127 | (1,263,943 | ) | (580,254 | ) | (1,825,831 | ) | |||||||||
Less: Net income (loss) attributed to non-controlling interest (related to discontinued operations) | - | 26,693 | - | (136,786 | ) | |||||||||||
Net income (loss) attributed to shareholders | $ | 871,127 | $ | (1,237,250 | ) | $ | (580,254 | ) | $ | (1,962,617 | ) | |||||
Basic and diluted income (loss) per share: | ||||||||||||||||
Income (loss) from continued operations | $ | 0.05 | $ | (0.07 | ) | $ | (0.02 | ) | $ | (0.10 | ) | |||||
Income (loss) from discontinued operations | (0.01 | ) | 0.01 | (0.01 | ) | - | ||||||||||
Basic and diluted income (loss) per share | $ | 0.04 | $ | (0.06 | ) | $ | (0.03 | ) | $ $ | (0.10 | ) | |||||
Basic weighted average number of shares outstanding: | 21,119,488 | 21,119,488 | 21,119,488 | 20,295,714 | ||||||||||||
Diluted weighted average number of shares outstanding: | 21,119,488 | 21,169,288 | 21,119,488 | 20,295,714 |
Reconciliation of EBITDAS to Net income (loss) applicable to common stockholders as it is presented on the Condensed Consolidated Statements of Operations for Xfone, Inc. | ||||||||||||||||
Three months ended | Nine months ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
2011 | 2010 | 2011 | 2010 | |||||||||||||
Net income (loss) attributed to shareholders | $ | 871,127 | $ | (1,237,250 | ) | $ | (580,254 | ) | $ | (1,962,617 | ) | |||||
Depreciation and amortization | 1,453,983 | 1,091,206 | 3,850,446 | 3,144,840 | ||||||||||||
Compensation in connection with the issuance of warrants and options | 24,567 | 84,129 | 166,194 | 535,512 | ||||||||||||
Financing expense (income), net | (421,121 | ) | 2,340,159 | 2,831,573 | 3,597,274 | |||||||||||
Other expenses | 115,453 | 159,712 | 405,299 | 453,048 | ||||||||||||
Net income attributed to non-controlling interest | - | (26,693 | ) | - | 136,786 | |||||||||||
Income tax benefit | 177,952 | (250,690 | ) | (342,567 | ) | (503,306 | ) | |||||||||
Loss (income) from discontinued operations, after taxes | 137,535 | (256,014 | ) | 137,535 | (165,635 | ) | ||||||||||
EBITDAS | $ | 2,359,496 | $ | 1,904,559 | $ | 6,468,226 | $ | 5,235,902 |
2011 Annual Meeting of Stockholders | |
![]() | Rights Offering |
![]() | FTTU Buildout Progress |
![]() | CEO Letter to Shareholders |
![]() | Conference Call Webcasts |
![]() | Stock Quote |
![]() | Corporate Governance |
Last Transaction | Last Three Months | |||||||||
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SEC Filing | Transaction | Insider | Sentiment | Holdings Change | Buy Amount | Sell Amount | Buy Price Range | Sell Price Range | ||
15-Nov-11 3:17 PM View: ![]() | 02-Nov-11 Private Purchase $751.80K | Scott Richard L 10% Owner ![]() | ![]() | 100% 2.51M to 5.01M | 0 | 0 | -- | -- | Show Txns![]() | |
04-Nov-11 5:17 PM View: ![]() | 02-Nov-11 Acquisition (other) $20.00K | Schwarz Shemer Director ![]() | ![]() | 749% 8.9K to 75.57K | 0 | 0 | -- | -- | Show Txns![]() | |
04-Nov-11 4:24 PM View: ![]() | 02-Nov-11 Acquisition (other) $2.40K | Almog Itzhak Director | ![]() | 100% 8.0K to 16.0K | 0 | 0 | -- | -- | Show Txns![]() | |
02-Nov-11 6:30 PM View: ![]() | 26-Oct-11 Exercise (in-the money or at-the-money) $1.40M | Burlingame Asset Management... 10% Owner ![]() | ![]() | 143% 3.26M to 7.92M | 0 | 0 | -- | -- | Show Txns![]() | |
04-Nov-11 5:42 PM View: ![]() | 02-Nov-11 Acquisition (other) $594.82K | Nissenson Guy President and CEO Director 10% Owner ![]() ![]() ![]() | ![]() | 161% 1.23M to 3.21M | 0 | 0 | -- | -- | Show Txns![]() | |
27-Sep-11 2:09 PM View: ![]() | 21-Sep-11 Private Sale ($1.50M) | Keinan Abraham 10% Owner ![]() | ![]() | (68%) 2.19M to 693.94K | 0 | 0 | -- | -- | Show Txns![]() |
On Thursday February 10, 2011, Xfone held a groundbreaking ceremony in Brownfield, Texas to mark the start of construction on the Company's Pride 1 Fiber-To-The-Premise (FTTP) network. When completed, Pride 1 will bring high speed broadband services to Brownfield and 16 additional communities.
Pictured in the above photo (from left to right): Brady Perkins (FiberTex), Rick Dykes (FiberTex), Courtney Binford (NTS, Manager - Fiber Projects), Brad Worthington (NTS, President).
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