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I called Jim Conner today and left a message. He called me back about a hour later. I asked him about the 40 mil in revs for Prosat, and he said I would have to email him and he would send my question to the finance dept. He said there are a couple of dozen people that work at his location. Wasn't really sure what to ask him about, because I hadn't had a chance to look at he latest 8k. He said there is a lot of things happening and we should be updated in the coming days/wks. We'll see. GLTA
This company has more going for it than 95% of the pinks out there. I like the fact that they are fully reporting and even though revenue has been low, with this acquisition, it should begin to move them forward. This is JMO
NAYN forward split would be nice.
I don't get the lack of interest in this company. They are acquiring a company with proven revenues of (4mil net). Read the 8k, says that Proset has audited financials already, unless I read it incorrectly. It also has a low float and moves real quick. I guess since they are putting out B/S, no one will buy. Oh, well. GLTA
I agree. Both of these companies look very promising. Prosat looks very good and I like the fact that I can apply for a job at them. Here is the 8k that was just filed.
http://www.pinksheets.com/quote/print_filings.jsp?url=%2Fredirect.asp%3Ffilename%3D0001144204%252D07...
HUGE NEWS TODAY!!! should retest .15-.20 soon imo.
NAYN : Nayna Networks Appoints Dr. Won-Gil Choe to Its Board
SANTA CLARA, Calif., Feb. 6, 2007 (PRIME NEWSWIRE) -- Nayna Networks, Inc.,
(OTCBB:NAYN), a provider of next generation network solutions headquartered in
Santa Clara, California, U.S.A., today announced that its board of directors has
appointed Dr. Won-Gil Choe to the board.
"We are fortunate to augment our board with Dr. Won-Gil Choe, whose vast
expertise and strong financial background will be a great asset to Nayna
Networks," said Naveen Bisht, president and CEO, Nayna Networks. "I am delighted
to welcome Dr. Choe to the Board, and am confident he will make strong and
lasting contributions to Nayna's growth and long-term success."
Additional Bio Information
Won-Gil Choe, Ph.D, is the CEO/President of Stanford Venture Group, Inc., which
he founded. The company is primarily involved among others in management of
Asian firms in U.S. He also serves as the President of TTCM China, Inc. Prior to
founding the Stanford Venture Group, Inc., he was the Chairman and CEO of GAN
Semiconductor, Inc., receiving funding from Siemens of Germany and Dow Corning
Corporation who absorbed the Company later. Previously, Dr. Choe served as the
President and CEO of Compressent Corporation, Inc. (NASDAQ), Cofounder and CFO
of Mass Microsystems, Inc. (NASDAQ), CFO & Vice President of TeleVideo Systems
(NASDAQ), Executive VP and CFO of Vacu Blast Corporation (NASDAQ). He was also
with Applied Materials, Memorex, Philip-Signetics and Fairchild Semiconductor in
engineering and general management capacities. Dr. Choe received BSIE from
Arizona State University, MSIE from Stanford University and Ph.D in Corporate
Finance from California Western University.
About Nayna Networks, Inc.
Nayna Networks, Inc., delivers next generation network solutions. More
information is available at http://www.nayna.com/.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995. For more information
regarding forward-looking statements and related risks, see the "Risk Factors"
section of Nayna's filings with the SEC. The company undertakes no obligation to
revise or update any forward-looking statements for any reason.
All products or services mentioned in this document are trademarks, service
marks, registered trademarks, or registered service marks of their respective
owners.
-0-
CONTACT: Nayna Networks, Inc.
Jim Connor
(408) 956-8000 x831
jim@nayna.com
06Feb07 18:48 GMT
Symbols:
de;NCFF de;NCFS de;NCFX us;NAYN
Source PZM PrimeZone Media
Categories:
MST/R/G7 MST/R/NME MST/R/US TGT/BGN
Check out this PR:
Extremely low float:
NAYN -- Nayna Networks, Inc.
Com ($0.0001)
COMPANY NEWS AND PRESS RELEASES FROM OTHER SOURCES:
Nayna Signs Definitive Agreement to Acquire Professional Satellite & Communications (ProSAT) With $40 Million Revenue
Major Expansion Into U.S. Residential Market to Substantially Boost Revenue
SANTA CLARA, Calif., Feb 6, 2007 (PrimeNewswire via COMTEX) -- Nayna Networks, Inc., (OTCBB:NAYN), a provider of next generation network solutions headquartered in Santa Clara, California, today announced it has entered into a definitive agreement to acquire privately-held Professional Satellite & Communications, LLC (ProSAT(tm)) headquartered in San Diego, California. ProSAT is a recognized supplier of residential broadband satellite solutions with about 125 employees. This acquisition is the latest step in Nayna's expansion into fast-growth high bandwidth markets. After the acquisition, Nayna expects to have about 175 employees globally including US and India. The company plans to expand its India operations significantly to provide customer retention and support for ProSAT operations.
Subject to final audit, ProSAT generated more than $40 million in revenues with over $3 million in net income for the year ending in 2006. Pursuant to the terms of the definitive agreement, subject to various standard closing conditions and approvals, Nayna will acquire all of ProSAT's outstanding membership interests in an all-stock transaction that is anticipated to close within 30 days. At closing, Nayna will issue 16 million shares of restricted Nayna stock to the members of ProSAT. In addition, 2 million of the shares to be issued at closing will be held in escrow for fifteen months to satisfy any indemnification claims by Nayna. Additionally 2 million shares will be issued in the form of stock options to current ProSAT employees after the formal close of this transaction.
ProSAT is a leading third party marketing and customer acquisition vehicle for DIRECTV(tm) and offers standard and High Definition Television equipment (HDTV), installation throughout the United States. Satellite TV services provided by DIRECTV including premium channel offerings. Equipment and installation include: standard and elliptical dish antennas, receivers, Digital Video Recorders (DVRs), set-top-boxes and sophisticated high definition (HD) equipment. The market demand for desirable HDTV quality offerings makes ProSAT a very competitive supplier in the market place.
"This is a win-win for both our companies, ProSAT is very strong in sales and customer relationships, while Nayna has a strong background in networking technology and engineering development," said Kory Madison, president and co-founder, ProSAT. "We are confident that together we will be able to aggressively follow-up on opportunities that maximize our joint value potential."
"We are excited about the synergies from both the companies," said Naveen Bisht, president and CEO, Nayna Networks. "From a geographical prospective, ProSAT has a USA focus that balances Nayna's traditionally international focus. From a sales cycle, ProSAT's shorter cycle residential focus balances Nayna's traditional longer cycle service provider focus. Combining the strengths of both the companies makes it very appealing for pursuing long-term growth opportunities while simultaneously providing enhanced short-term revenues."
About Professional Satellite & Communications, LLC
ProSAT was formed in 1997 and currently has its main facilities located at 5590 Morehouse Drive, San Diego, CA 92121 USA. ProSAT has established itself as a leading third party marketing and customer acquisition agent for DIRECTV. The company has leveraged its unique proprietary marketing formula and highly productive sales model to earn the distinction as a leading independent distribution partner for the marketing and sales of DIRECTV satellite programming. ProSAT is well positioned to benefit from the rapid growth of Direct Broadcast Satellite (DBS). More information is available at http://www.2getdtv.com/
About Nayna Networks, Inc.
Nayna Networks, Inc. delivers next generation network solutions including VoIP, IP based TV, RF based TV and high-speed Internet. More information is available at http://www.nayna.com/.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, among others, statements relating to the planned expansion of operations in India, the market for residential broadband satellite and home security solutions, the integration of ProSAT's service offerings into Nayna Networks, and the timeframe during which the merger is expected to close. Statements regarding future events are based on the parties' current expectations and are necessarily subject to associated risks related to, among other things, the potential impact on the business of ProSAT due to uncertainty about the merger, the retention of employees of ProSAT, the ability of Nayna to successfully integrate ProSAT services, technology and operations and to achieve planned synergies. Therefore, actual results may differ materially and adversely from those expressed in any forward-looking statements. For more information regarding Forward Looking Statements and related risks, see the "Risk Factors" section of Nayna's filings with the SEC. The company undertakes no obligation to revise or update any forward looking statements for any reason.
All products or services mentioned in this document are trademarks, service marks, registered trademarks or registered service marks of their respective owners.
This news release was distributed by PrimeNewswire, www.primenewswire.com
SOURCE: Nayna Networks, Inc.
By Staff
CONTACT: Nayna Networks, Inc.
Jim Connor, Marketing
(408) 956-8000 x 831
jim@nayna.com
(C) Copyright 2006 PrimeNewswire, Inc. All rights reserved.
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INDUSTRY KEYWORD: Computer Software and Services
SUBJECT CODE: ACQUISITIONS
INTERNET
NETWORKING
Mergers and Acquisitions
Wow-the stock is at or near year's low. Just beware of the OTC Digest picks;the companies they pump are for the most part pure garbage.
I pity anyone who bought this stock at $1.00 or for that matter even at $.15.
This is just another LOSER from the OTC Digest, who haven't had a winner in years.
More BS-The stock is an unspeakable piece of garabage and is sitting at a few cents for good reasons.
Nayna Networks Named Preferred Provider by Fort Fibre Ottiche
August 22, 2006 06:00:21 (ET)
SANTA CLARA, Calif., Aug 22, 2006 (PRIMEZONE via COMTEX) -- Nayna Networks, Inc. (NAYN, Trade), a provider of next generation network solutions headquartered in Santa Clara, California, USA, today announced that Fort Fibre Ottiche S.r.l, a specialist supplier of fiber optic systems and services for the Italian market, has named Nayna Networks a preferred provider for its FTTB projects.
Fort Fibre chose to add Nayna's ExpressSTREAM fiber-to-the-building solution to its portfolio for its cost effectiveness, ease of installation, and the robust approach of its Gigabit Ethernet structure.
"We have a broad range of fiber based solutions, but we had a gap in multi-point FTTB products for triple play voice, data, and video applications," said Luigi Campilii, division director, Fort Fibre Ottiche. "After careful review, we selected Nayna Network's ExpressSTREAM. It easily surpasses the capabilities of competitive technologies in providing multi-services over a single fiber including broadcast of CATV and satellite. The simplicity of an Ethernet friendly approach reduces operational and life time ownership costs."
"Working together as partners, Fort Fibre Ottiche and Nayna Networks can deliver rich content multiple services over a single fiber including high performance digital video surveillance," said Jim Connor, Nayna Networks, director of marketing. "Forte Fibre is a strong partner with a deep pool of technical talent based in Italy and we are proud they have selected Nayna's state-of-the-art ExpressSTREAM solution".
About Fort Fibre Ottiche
For more information contact Fort Fibre Ottiche S.r.l. -- Via W. Tobagi, 5-24035 Curno (BG) Italy.
About Nayna Networks, Inc.
Nayna Networks, Inc. delivers next generation network solutions. More information is available at http://www.nayna.com/.
In addition, all shareholders and interested parties are invited to sign into our private Corporate Guest Book at http://www.CorporateGuestBook.com/?NAYN to receive timely updates and information on future developments.
Forward Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. For more information regarding Forward Looking Statements and related risks, see the "Risk Factors" section of Nayna's filings with the SEC. The company undertakes no obligation to revise or update any forward looking statements for any reason.
All products or services mentioned in this document are trademarks, service marks, registered trademarks or registered service marks of their respective owners.
This news release was distributed by PrimeZone, www.primezone.com
SOURCE: Nayna Networks, Inc.
Nayna Networks, Inc.
Jim Connor
(408) 956-8000 x831
jim@nayna.com
(C) 2006 PRIMEZONE, All rights reserved.
This stock is a pure garbage/pump and dump;I am sure glad I stayed away when the OTC Digest was recommending it at much higher prices.
Low float... will jump in tomorrow. Could go to $1 easy. HOY was 1.52?
NAYN 0.13 x 0.14 last 0.13 up 35%
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