Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Data Systems & Software Inc. Announces Results for the Year
Ended December 31, 2005
Friday March 31, 4:24 pm ET
-- To Focus on Energy Intelligence Assets and Port Security Operations Following Disposition of Hardware Sales Unit --
-- Announces April 5 Conference Call with New CEO John Moore --
MAHWAH, N.J., March 31 /PRNewswire-FirstCall/ -- Data Systems & Software Inc. (OTC Bulletin Board: DSSI - News) today announced results for the year ended December 31, 2005.
The results as reported reflect the Company's sale in August 2005 of its dsIT Technologies subsidiary and its associated outsourcing consulting business. Under applicable accounting principles, the results of this business were reclassified in the current periods and for all prior periods as discontinued operations. The condensed results of these operations are presented in each of the current and comparative periods as net income from discontinued operations. The continuing operations and assets of the Company's software consulting and development segment consist of dsIT's project development services and solutions activities, including its port security business.
The results continue to reflect the Company's computer hardware sales segment for the periods reported. As previously announced, these activities, which were conducted through the Company's Databit subsidiary, were sold in March 2006 and will be reflected as a discontinued operation in future periods.
Sales for the year 2005 increased marginally to $21.9 million from 2004 sales of $21.8 million. The increase was due to an increase in sales of the software consulting and development segment, partially offset by a decrease in sales of the computer hardware segment.
The decrease in gross profit to $4.4 million in 2005 as compared to $4.6 million in 2004 was entirely attributable to a decrease of $0.6 million in gross profit in the computer hardware segment, which was partially offset by an increase in gross profit in its software consulting and development segment of $0.4 million. In the software consulting and development segment, the gross profit margin increased to 29%, from 25% in 2004, whereas in the computer hardware sales segment gross profit margin decreased to 18% from 20% in 2004.
The decrease in selling, general, marketing and administrative (SMG&A) expenses to $6.5 million in 2005, as compared to $7.1 million in 2004, was primarily due to lower corporate professional fees and compensation expense in the computer hardware segment in 2005. The decrease in net finance expenses was attributable to the continued reduction of dsIT's outstanding bank debt.
The decrease in income tax expense in 2005 was primarily due to a tax benefit recorded from the sale of the Company's dsIT Technologies subsidiary, partially offset by a one-time expense due to the reorganization of dsIT's business, which resulted in the expensing of certain previously recognized foreign income tax assets.
The Company's share of Comverge's net loss was $0.4 million in 2005, down from $1.2 million in 2004. This reduction in the Company's share of the Comverge loss is attributable to the Company ceasing to record equity losses in Comverge, as its preferred stock investment has been reduced to zero.
The net loss from the Company's continuing operations was reduced to $2.2 in 2005 from $2.4 million in 2004.
In August 2005, the Company sold its Israeli outsourcing consulting business for approximately $3.7 million, resulting in a gain of $0.5 million. Net income from these operations, net of income taxes, have been restated for 2004. The decrease in net income from discontinued operations, net of tax, is due to the fact that the 2005 period reflects the operations through the date of the sale of the business in August 2005, as compared to 2004, which reflects an entire year's results.
John A. Moore, Chairman, President and Chief Executive Officer of DSSI commented: "My number one priority is to help the greater investment community understand the potential of Comverge. Comverge was incubated at dsIT and was further developed following our acquisition of energy intelligence technology and expertise through our purchase of the Lucent and Scientific Atlanta's energy intelligence businesses in 1998 and 1999. Comverge, which is establishing itself as the #1 energy Demand Response solutions provider, was named by Newsweek Magazine as "One of the Top Ten Eco-Friendly Companies in North America" in the November 21, 2005 issue." Mr. Moore continued, "With the recent heightened sensitivity to port security, we are also looking at doing more to leverage off dsIT's platform of expertise in naval and port security solutions."
The Company also announced that it will host a conference call with its new President and CEO John A. Moore on Wednesday, April 5, 2006 at 2:00 p.m. Eastern time. To participate, call (800) 967-7140 (U.S. toll-free number) or (719) 457-2629 (international callers) and mention passcode: 9824009.
About DSSI
Data Systems & Software Inc. (OTC Bulletin Board: DSSI - News) is a provider of software consulting and development services, In addition, its Comverge Inc. equity affiliate is a leading Demand Response company enabling utilities, industry and consumers to better manage peak electricity usage. Additional information about DSSI is available at http://www.dssiinc.com and at http://www.dsit.co.il.
About Comverge
Comverge, Inc., The Power in Power Technology(TM), is a leading Demand Response company whose investors include Nth Power, EnerTech Capital, Data Systems & Software Inc. (OTC Bulletin Board: DSSI - News), E.ON Venture Partners GmbH, Ridgewood Capital, Easton Hunt Capital Partners, L.P., Norsk Hydro Technology Ventures, Rockport Capital Partners, Partners for Growth and Shell Internet Ventures, an affiliate of the Royal Dutch/Shell Group of Companies. Providing software and system solutions to over 500 clients in the electric utility industry, Comverge implements both integrated and outsourced solution based models for remote meter reading, distributed generation monitoring, and time-of-use billing and demand response, and direct or voluntary load control initiatives. For additional information about Comverge visit http://www.comverge.com.
http://biz.yahoo.com/prnews/060331/nef018.html?.v=29
Dubi
Data Systems & Software Inc. Announces Appointment of John A. Moore as CEO
Friday March 10, 1:49 pm ET
George Morgenstern to Continue as Chairman Also Announces Sale of Databit Subsidiary
MAHWAH, N.J., March 10 /PRNewswire-FirstCall/ -- Data Systems & Software Inc. (OTC Bulletin Board: DSSI - News) today announced that John A. Moore has been appointed as President and Chief Executive Officer of the company, effective immediately. Mr. Moore was also elected to serve as a director of the company. Mr. Moore succeeds George Morgenstern, the company's founder who has served as president and chief executive officer of the company since 1986 and as chairman of the board of the company since 1993. Mr. Morgenstern will continue to serve on the board of directors and as chairman of the board.
Mr. Moore is the President and a founder of Wilmington Scientific http://www.wilmingtonscientific.com and of Edson Moore Healthcare Ventures http://www.edsonmoore.com and has led a diverse career in investment banking, private venture capital and business management. Commenting on his appointment, Mr. Moore stated, "I was initially attracted as an investor to DSSI because it is the largest shareholder of Comverge, a leader in the alternative energy field. Comverge's unique strategy in Demand Response management of energy has attracted investment from the Who's Who of alternative energy venture capital like Nth Power, EnerTech Capital, Easton Hunt and Rockport Capital, as well as strategic investors like E.On Ventures, Shell Internet Ventures and Norsk Hydro Technology Ventures."
"As CEO of DSSI, my number one priority is to help the greater investment community understand the potential of Comverge and to build shareholder value of DSSI," stated Moore.
Mr. Moore added: "I also would like to take the opportunity to salute George Morgenstern for his more than 40 years of leadership of the company and its predecessors. We expect George to continue to be an important part of DSSI, particularly in its efforts to grow its project and solutions activities in Israel."
In commenting on Mr. Moore's appointment, Mr. Morgenstern stated: "On behalf of DSSI's board, employees and shareholders, I wish to welcome John Moore and congratulate him on his appointment as President and CEO. Over the last several months, I and other members of DSSI's management team and board of directors, both here and in Israel, have had the opportunity to meet with John. This has given him an opportunity to learn about the company's business and prospects, and us the opportunity to hear about John's ideas for the future of DSSI. I pledge to do my utmost to support him in executing on his vision for building value for DSSI's shareholders."
The company also announced that it has completed the sale of its Databit subsidiary to Shlomie Morgenstern who serves as president of Databit. Prior to the sale, Mr. Morgenstern also served as vice president of DSSI. The sale was approved by a special committee comprised of the independent directors of the company. The special committee was advised by a financial advisor and special counsel retained by the committee.
Additional disclosure regarding the transactions and developments described in this release will be included in the company's Current Report on
Form 8-K which the company expects to file with the Securities and Exchange Commission on or before March 16, 2006.
About Data Systems & Software Inc.
Data Systems & Software Inc. is a provider of software consulting and development services. Its Comverge Inc. affiliate provides innovative energy intelligence and infrastructure for energy suppliers and their industrial, commercial and residential customers. For more information visit http://www.dssiinc.com.
http://biz.yahoo.com/prnews/060310/nef013.html?.v=40
Dubi
Milford, Connecticut Woman Wins Toyota Prius through CoolSentry Energy Management Program
Friday February 17, 9:23 am ET
NEW BRITAIN, Conn., Feb. 17 /PRNewswire/ -- Comverge's CoolSentry program announced today that Ann Kelly of Milford, Connecticut is the winner of its Toyota Prius(1) Sweepstakes. Ms. Kelly was selected via a random drawing of entries returned by eligible recipients. "I responded to the CoolSentry initiative because I thought it was 'a good thing'. I was not mindful that I was entering a sweepstakes, so obviously I'm ecstatic about the Prius," states Ms. Kelly.
"The Toyota Prius is the essence of the CoolSentry program -- on wheels," said Comverge Enterprise Group's President and COO, Frank Magnotti. "Reducing energy demand at peak hours without sacrificing comfort is important to our participants."
Richard Steeves, Chairman of the Energy Conservation Management Board, responsible for advising utilities on energy efficiency programs paid by ratepayers, presented the award. The board is committed to the creation of an energy efficiency "ethic" in Connecticut through economic and environmental programs, such as those offered by Comverge. "The board is excited to see this kind of program taking root in southwest Connecticut. These widespread initiatives are making a real impact on the reliability and overall efficiency of the electric power grid in that area," he commented.
As part of ISO New England's Demand Response Programs, the CoolSentry program operates during system emergencies to help maintain the reliability of Connecticut's bulk electricity grid. "ISO New England's demand response programs are an important resource to help maintain power grid reliability and CoolSentry is an integral part of Connecticut's portfolio of resources. Comverge is currently the only demand response provider enrolling residential customers in ISO New England's programs," said Bob Laurita, Supervisor Demand Response Programs at ISO New England. The not-for-profit corporation, ISO New England Inc., is responsible for day-to-day reliable operation of New England's bulk power generation and transmission system.
Named by Newsweek Magazine as one of 2005's top "Ten Eco-Friendly Companies," Comverge, Inc. supports large scale peak Demand Response programs across the country.
The CoolSentry program helps maintain grid reliability by remotely cycling central air conditioning compressors via a special device connected to the unit. Participation in the program is voluntary, free of charge, and offers a $100 bonus to qualifying customers. Interested consumers with a central air conditioning system should contact CoolSentry at 1.800.717.6697 or on the web at http://www.coolsentry.com.
About Comverge, Inc.
Comverge, Inc., The Power in Power Technology(TM), is a leading energy intelligence company whose investors include Nth Power, EnerTech Capital, Data Systems & Software, Inc. (OTC Bulletin Board: DSSI - News), E.ON Venture Partners GmbH (NYSE: EON - News), Ridgewood Capital, Easton Hunt Capital Partners, L.P., Norsk Hydro Technology Ventures (NYSE: NHY - News), Rockport Capital Partners, and Shell Internet Ventures, an affiliate of the Royal Dutch/Shell Group of Companies. Comverge is represented across the world with offices and research facilities in Atlanta, Georgia; East Hanover, NJ; Newark, California; Pensacola, Florida; and Tel Aviv, Israel. Providing software and system solutions to over 500 clients in the electric utility industry, Comverge implements both integrated and outsourced solution based models for remote meter reading, distributed generation monitoring, and time-of-use billing and demand response, and direct or voluntary load control initiatives. For more information visit http://www.comverge.com.
http://biz.yahoo.com/prnews/060217/nyf052.html?.v=42
Dubi
Comverge Enterprises Group Announces Milestone of 150 MW of Installed Capacity
Wednesday February 8, 11:15 am ET
TAMPA, Fla., Feb. 8 /PRNewswire/ -- DistribuTECH 2006 -- Comverge, Inc. announced today that it has installed a cumulative 150 MW of emergency peaking capacity under its Virtual Peaking Capacity(TM) (VPC) banner, marking a significant milestone for the company. Comverge expects to add at least 100MW to its current capacity in 2006. Comverge currently has contracts in place in California, Utah and New England to provide over 225 MW of peak load capacity in these fully-outsourced programs. This innovative pay-for-performance business model has drawn national interest from utilities as an approach to defer generation and transmission expenditures and enhance grid reliability.
This milestone reflects the growing market vision of Demand Response as a meaningful asset in any electric utility's portfolio. This resource has the proven capability to respond in under 60 seconds and provides verifiable Demand Response that can be used for a variety of system operation situations -- from emergencies to daily operations. The resources under the VPC(TM) offering were called more than a dozen times during the summer of 2005 with flawless execution and performance. When the Comverge VPC(TM) system was called for system emergency in southwestern Connecticut on July 27th, the automated response systems of Comverge performed at 125% of expectation.
In its efforts to reduce Federally Mandated Congestion Charges, the Connecticut Department of Public Utilities noted the importance of the Comverge program. In Docket Number 05-07-14PH01, the Department stated "... the Comverge program demonstrates that the aggregation of small loads (i.e., residential) is a significant load management strategy, one that can provide a significant load response resource. Therefore, the Department believes that direct load control strategies should be pursued by the distribution companies among all customer classes. A residential offer will also serve to educate this customer class regarding peak system demands."
Under the current agreements, Comverge is responsible for implementing the entire program, including market research, participant recruitment, installation, maintenance, and call center operations, thereby allowing the utility to reap the benefits of a peak load management program without taking on any of these associated risks.
"Our VPC(TM) business model has proven to be a highly economical and effective solution for utilities across the country," commented Comverge Enterprise Group's COO and President Frank Magnotti. "We will continue adding Verifiable Peaking Capacity in Utah, and New England, as well as San Diego, where recruitment and installation efforts are well underway. We are proud to congratulate our growing team here at Comverge on this accomplishment. Their continuing commitment to Comverge's three core competencies, Operational Excellence, Innovation, and Customer Intimacy, have made this achievement possible."
Robert Chiste, Comverge's CEO added, "Just as written in the Energy Bill, Demand Response is the national policy of the United States. Comverge's fully outsourced programs are offering utilities an innovative business model for reducing peak capacity through Demand Response, thereby allowing them to defer capital intensive transmission and generation upgrades. The market for these programs is constantly growing and Comverge seeks to be at the forefront of this growth." Mr. Chiste also noted that Comverge has moved into 2006 with greater momentum than ever enjoyed in its history, coming off a record 2005.
About Comverge, Inc.
Comverge, Inc., The Power in Power Technology(TM), is a leading energy intelligence company whose investors include Nth Power, EnerTech Capital, Data Systems & Software, Inc. (OTC Bulletin Board: DSSI - News), E.ON Venture Partners GmbH (NYSE: EON - News), Ridgewood Capital, Easton Hunt Capital Partners, L.P., Norsk Hydro Technology Ventures (NYSE: NHY - News), Rockport Capital Partners, and Shell Internet Ventures, an affiliate of the Royal Dutch/Shell Group of Companies. Comverge is represented across the world with offices and research facilities in Atlanta, Georgia; East Hanover, NJ; Newark, California; Pensacola, Florida; and Tel Aviv, Israel. Providing software and system solutions to over 500 clients in the electric utility industry, Comverge implements both integrated and outsourced solution based models for remote meter reading, distributed generation monitoring, and time-of-use billing and demand response, and direct or voluntary load control initiatives. For more information visit www.comverge.com.
http://biz.yahoo.com/prnews/060208/nyw126.html?.v=38
Dubi
Eli,
Sure....always too many other stocks to buy, never
enough money for them all.(sigh)
Regards,
Dubi
Dubi
1.76$ allready
not far from your sell price !
i hope you get your price today, and tommorow myne ...
Eli,
>>otherwise i will retire from "profit business"<<
Do not let a miss or two put you down.
I have a few left, i will be happy to sell at 1.83,
as my first portion.
Btw, i think Peter Lynch once said that he was a lucky
(and a very rich man) due to his rate of accuracy of...
70%.
Regards,
Dubi
Dubi,
look at DSSI chart.
technicaly we are in the bigining (yesterday was the "SIFTACH")of another round.
IMO we will have 2$ in a few days.
this is my target price and more or less my exit level.
wait and see.
if you have left any shares of DSSI in your pocket, i recomended to put a sell order around 2$.
my gesstimate is that afterwards it will drop to 1.6$, and there i will be pick it again.
hope it comes true ....
otherwise i will retire from "profit business"
(-:
Eli
Nice jump today
Dubi
Form 8-K for DATA SYSTEMS & SOFTWARE INC
5-Dec-2005
Change in Directors or Principal Officers
Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
On November 30, 2005 we appointed Mr. Michael Barth, 45, to serve as our Chief Financial Officer and Chief Accounting Officer. Mr. Barth was also appointed Chief Financial Officer of our dsIT Solutions Ltd. subsidiary.
Mr. Barth is a Certified Public Accountant in both the U.S. and Israel and has 18 years of accounting experience. For the past six years Mr. Barth has served as the Assistant to the Chief Financial Officer and Controller of dsIT. From 1995 to 1999, Mr. Barth was a supervisor with Somekh Chaikin, a member of KPMG International. Prior to that, Mr. Barth was employed by public accounting firms in the United States. Mr. Barth holds a Masters of Business Administration in Accounting from Baruch College of the City University of New York.
The terms of an employment agreement between us and Mr. Barth have not yet been finalized; they will be described in an amendment to this Current Report on Form 8-K as soon as they become final.
http://biz.yahoo.com/e/051205/dssi.ob8-k.html
Dubi
Eli,
I sure wish it was always true.
Regards,
Dubi
Dubi,
You know what i allways say ?
"HAMAZAL HOLECH IM HA-TOVIM"
in hebrew it sounds better
(-:
Eli
Eli,
As said, yoter mazal misechel.
Regards,
Dubi
Dubi
You did fine.
1.83 looks today so fur a way ...
(-:
Eli
Eli,
I had more luck than logic.I had a sell order for $1.83,
and it got partially executed some two weeks ago, or so.
About 60% was sold, and i canceled the remainder, therefore
still own some.
Within my tactics i sometimes post sell orders at very high
prices and buy orders, extremely low.
Sometimes i get lucky, but sometimes get a ridiculous
small amount of shares bought or sold.
Usually i put all or none orders to thinly traded stocks,
sometimes i play for luck.
Dubi
unusual trading today.
something around the corner ?
we will wait and see.
Dubi, you are still in ?
Eli
Data Systems & Software Inc. Announces Results for the Third Quarter and Nine Months Ended September 30, 2005
Tuesday November 15, 5:38 pm ET
MAHWAH, N.J., Nov. 15 /PRNewswire-FirstCall/ -- Data Systems & Software Inc. (OTC Bulletin Board: DSSI - News) today announced results for the quarter and nine months ended September 30, 2005.
The results as reported reflect the sale in August 2005 by the Company and the other shareholders in dsIT Technologies Ltd. of dsIT's outsourcing consulting business to Taldor Computer Systems (1986) Ltd. The operations that were sold were comprised of dsIT's business of providing computer software and systems professionals on a time and materials basis to clients in Israel. Under applicable accounting principles, this business was reclassified in the current periods and for all prior periods as discontinued operations. The condensed result of these operations is presented in each of the current and comparative periods as net income from discontinued operations. The continuing operations of the Company's software consulting and development segment consist of dsIT's project development services and solutions activities.
Sales in the first nine months of 2005 increased by $0.7 million, from $15.9 million in the first nine months of 2004, to $16.6 million in 2005. This increase was due to increased sales in both segments, particularly in the first quarter of this year. Sales in the third quarter of 2005 decreased by $0.2 million, in comparison to those in the third quarter of 2004. The decrease in sales was due to a $0.3 million decrease in computer hardware sales, partially offset by a $0.1 million increase in software development sales.
Gross profit in the first nine months of 2005 increased by $0.1 million, compared to the first nine months of 2004, due to increased gross profit in both segments, resulting primarily from the increase in sales in the first quarter of this year. Gross profit in the third quarter of 2005 remained virtually unchanged compared to the third quarter of 2004, despite the decrease in sales during the 2005 period, as a result of improved gross profit margins in the software development segment.
Selling, marketing, general and administrative expenses in the first nine months of 2005 decreased marginally compared to the first nine months of 2004, due the decrease in the third quarter of 2005. Expenses also decreased $0.3 million, from $2.1 million in the third quarter of 2004, to $1.8 million in the third quarter of 2005. The decrease was primarily due to a decrease in corporate professional fees as well as compensation expense in the computer hardware segment, both of which were unusually high in the third quarter of 2004.
The income tax expense in the third quarter of 2005 and in the first nine months of 2005 was primarily due to a one-time expense due to the reorganization of business at dsIT which resulted in the expensing of previously recognized foreign income tax assets.
The Company's share of Comverge's net loss in the first nine months of 2005 was $0.4 million. As the carrying value of the Company's investment in Comverge's common stock and preferred stock has been reduced to zero, the Company will no longer be recording equity losses in Comverge. The Company will record 7% of any Comverge profits as equity income once the Company's equity in its Comverge investment has reached the level at which the Company ceased recording equity losses.
The Company recorded a gain in the third quarter of 2005 from the sale of dsIT's outsourcing consulting business of $0.915 million, net of tax. The decrease in net income from these discontinued operations in the third quarter and first nine months of 2005 was entirely attributable to the fact that the third quarter of 2005 included activity only up to the date of the sale, which occurred in the middle of the quarter.
George Morgenstern, Chairman, President and Chief Executive Officer of DSSI commented: "With the sale of our Israeli consulting business, we have a renewed focus on our solutions business and our hardware sales activities. The additional working capital which we generated from the sale gives us a more stable platform from which we hope to increase sales and profitability of these operations in the coming year."
Data Systems & Software Inc. (OTC Bulletin Board: DSSI - News) is a provider of software consulting and development services, and is an authorized direct seller and value added reseller of computer hardware. In addition, its Comverge Inc. equity affiliate provides energy intelligence solutions to utilities. Additional information about DSSI is available at http://www.dssiinc.com.
http://biz.yahoo.com/prnews/051115/netu054.html?.v=11
Dubi
Comverge, Inc. Named as One of Top Ten Eco-friendly Companies by Newsweek Magazine
Tuesday November 15, 8:30 am ET
EAST HANOVER, N.J., Nov. 15 /PRNewswire/ -- Comverge, Inc., a leading energy intelligence company, was named one of Newsweek Magazine's top ten eco- friendly companies in North America. Featured in Newsweek in its November 21st issue, and on its web site at http://www.msnbc.msn.com/id/10020271/site/newsweek/page/10/ , Comverge solutions are showcased as providing the leading technology used by electric utilities to manage peak periods of energy use through demand and price response solutions that enable informative energy management to electric utilities and promote conservation by their end-use customers.
Robert Chiste, Chairman and CEO of Comverge stated, "Comverge is pleased to be recognized by Newsweek for its innovative Eco-Friendly solutions. A special recognition goes to our outstanding customer, Gulf Power, who has demonstrated the leadership role in price responsive systems in the United States. As a leader in the demand response market for electric utilities, Comverge is always pleased to be recognized for its technology; and will always work to provide maximum value to our shareholders, customers, and employees through our commitment to our three core competencies of quality, customer intimacy, and innovation, highlighted by the products and relationships showcased in this article."
About Comverge, Inc.
Comverge, Inc., The Power in Power Technology(TM), is a leading energy intelligence company whose investors include Nth Power, EnerTech Capital, Data Systems & Software, Inc. (OTC Bulletin Board: DSSI - News), E.ON Venture Partners GmbH (NYSE: EON - News), Ridgewood Capital, Easton Hunt Capital Partners, L.P., Norsk Hydro Technology Ventures (NYSE: NHY - News), Rockport Capital Partners, and Shell Internet Ventures, an affiliate of the Royal Dutch/Shell Group of Companies. Comverge is represented across the world with offices and research facilities in Atlanta, Georgia; East Hanover, New Jersey; Newark, California; Pensacola, Florida; and Tel Aviv, Israel. Providing software and system solutions to over 500 clients in the electric utility industry, Comverge implements both integrated and outsourced solution based models for remote meter reading, distributed generation monitoring, and time-of-use billing and demand response, and direct or voluntary load control initiatives. For more information visit www.comverge.com.
Media Contact
At Comverge, Bud Vos, Vice President of Marketing, 973.884.5970, bvos@comverge.com.
http://biz.yahoo.com/prnews/051115/nytu097.html?.v=32
Dubi
Dubi,
i think it is reasonable move.
i'm not selling yet, i have good filling for DSSI...
Good luck
ES
ES,
I think to reduce some at 1.90 wont be a bad idea.
25%, sort of.
Just thinking aloud.
Regards,
Dubi
Hey Dubi,
nice one, i like it.
meanwhile both dssi and tsem doing fine.
we are very close to my target price for dssi. i dont think of selling yet.
Regards
ES
Data Systems & Software Inc. (OTCBB: DSSI), which once was a major party at interest in Tower, rose 21% yesterday. I thought that Data Systems subsidiary Comverge, a developer of remote control solutions for power stations on which I once pinned many hopes, had made an announcement, but no. Data Systems only announced that CFO Yacov Kaufman had resigned. Is there a connection with the rise in the share price? I don’t think so. Had chairman George Morgenstern resigned, the share would have probably risen much higher, but investors cannot hope for that. The man is only 72, so why should he resign?
http://www.globes.co.il/serveEN/globes/nodeView.asp?fid=1052
Dubi
Dubi,
Did you read my email from today ?
ES
At $ 3.....impossible, that is over my target!!!
Stammmmmmmmmm.
Regards,
Dubi
Change in Directors or Principal Officers
Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
On October 27, 2005, the Registrant's Vice President and Chief Financial Officer Yacov Kaufman, gave written notice of his resignation, effective November 30, 2005, from all positions with the Registrant and its subsidiaries. Mr. Kaufman also serves as the Registrant's principal accounting officer. It is currently contemplated that Mr. Kaufman will continue in his positions with the Registrant until November 30, 2005. No successor has yet been appointed.
http://biz.yahoo.com/e/051101/dssi.ob8-k.html
***
replacing the bad management is a positive step,
i hope George Morgenstern will follow Kaufman! in such case dssi will be at 3$ !!!!!
ES
Dubi,
sometimes i'ts discovered as fictitious pregnancy,
in this case we will have twins !
(-:
ES
Not any of the reasons, i hope.
1-Nov-2005
Change in Directors or Principal Officers
Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
On October 27, 2005, the Registrant's Vice President and Chief Financial Officer Yacov Kaufman, gave written notice of his resignation, effective November 30, 2005, from all positions with the Registrant and its subsidiaries. Mr. Kaufman also serves as the Registrant's principal accounting officer. It is currently contemplated that Mr. Kaufman will continue in his positions with the Registrant until November 30, 2005. No successor has yet been appointed.
http://biz.yahoo.com/e/051101/dssi.ob8-k.html
Dubi
There should be a reason (or two) for the
last days actions.
Like pregnancy, the result will be obvious
shortly,
Regards,
Dubi
Nice move & volume today, keeping the momentum...
as i said before: we are in the way to 1.8 - 2.
maybe good news is on the way.
ES
ES,
I had not anticipated a linear progress anyway.
If i reach target price at target time, i will
be pleased and satisfied.
At my age, i do not run fast, ....but i
usually reach the finish-line.
Regards,
Dubi
Dubi,
it's not going to be a good day for DSSI ....
ASK=1.45 $
weak hands ....
ES
ES,
I draw your attention to SPNS as well,
with the new CEO, there just might be
a return to their previous glorious
days.
Check it out,
(#board-4141)
Regards,
Dubi
Me neither.Will wait until my price target.
(if not the time/date target.)
Btw, I did well to not have sold IDTA.
I am now even more optimistic about it
than when i first wrote about it in the
Oldie forum.
Regards,
Dubi
NO !
i'm not thinking of selling below 2$
ES
Why, are you planning to sell ?
I am not,
>>4/DSSI :Target price: $2.5 Time:Oct 2006 <<
Not before $ 2.5, hopefully before my date target.
Regards,
Dubi
1.55 $, B=1.5 A=1.57
graet momentum, should take us to 1.8...
hope it will close above 1.5.
ES
ES,
All in life is relative.
There were many trading days with no volume
whatsoever, and 3 days in which the only
volume was my own buying.
Now when i see some volume, it is a good enough
reason for me to be pleased.
Anyway my price and date targets are still far
off.I am in no hurry.
Regards,
Dubi
Hi Dubi,
we need good news, new contracts for Comverage ...
the stock need new buyers, volume is not enough to keep
DSSI @ 1.49$.
B/A 1.34/1.49 - gap is too wide.
Yet, nice move today so far.
ES
Nice volume in good direction.
Dubi
SPCBF, oh my God, is it really 60 ???
A big crash,
Hopefully it recovers,
Dubi
ES,
>>stock for day trading<<
This is a complete different approach.
I agree that for this purpose
you can make a fast $ or two.
As long as you know the company's
funamentals, and are aware of the
disadvantages, i would say, go ahead.
My 'style' is somewhat different, i prefer
good, deep DD, and a longer 'parking-time'
on each stock i invest in.
GLTY,
Dubi
Dubi,
dont be, you opened my eyes.
you did an excellent DD compared to me !
i took your advice and sold it at 0.036 with nice profit.
however, i found GLIF as great stock for day trading.
i intend to follow it for more quick rounds..
ES
ES,
So sorry to have this report with so much negativity,
concerning the company but as always, my candid opinion
is displayed.
Regards,
Dubi
Dubi,
Nice research.
thanks for your time and effort,
I'll send you an email tonight.
ES
Hi ES,
Even before you have pointed GLIF, i have stumbled
upon it had done a brief check and decided it was
not for me.
I dived into the issue again and these are my findings:
1/No long history, and a dubious past of shell mergers
which may not be too bad by itself, but not the best of
signs,
Formerly=Grant Silver, Inc. until 9-97
Formerly=Brewserv Corp. until 2-02
Note=7-01 State of Incorporation Idaho changed to Nevada
Formerly=Grant Ventures, Inc. until 11-04
2/Companies with 2 sets of stock is not a good sign.
COMMON STOCK
The Company is authorized to issue 150,000,000 shares of common stock with $0.001 par value per share. As of June 30, 2005 and December 31, 2004, the Company has 58,189,113 and 56,243,791 shares of common stock issued and outstanding, respectively. The Company is authorized to issue 20,000,000 shares of preferred stock with $0.001 par value per share. No shares of preferred stock have been issued to date.
In July 2004, an per the Agreement and Plan of Merger with Impact Diagnostics, Inc. all previously outstanding 35,060,720 shares of common stock owned by the Impact’s stockholders were exchanged for the same number of shares of the Company’s common stock. The value of the stock that was issued was the historical cost of the Company’s net tangible assets, which did not differ materially from their fair value.
In connection with the Merger, on July 5, 2004, the board of directors of Impact Diagnostics, Inc. approved a stock split of 3.58 shares to 1. As a result of the split, the outstanding common stock of Impact Diagnostics, Inc. increased from 9,793,497 to 35,060,720 shares. Pursuant to the Merger Agreement, each share of Impact Diagnostics common stock was exchanged for one share of Grant Life Sciences common stock. All numbers, in the financial statements and notes to the financial statements have been adjusted to reflect the stock split for all periods presented.
On September 20, 2004, the Company’s Board of Directors approved a change in the Company’s name to Grant Life Sciences, Inc. The accompanying financial statements have been changed to reflect the change as if it had happened at the beginning of the periods presented. Stockholders approved this change effective November 12, 2004.
In March and April of 2004, the Company issued 238,660 shares of common stock for cash at $0.0838 per share for $20,000.
In June 2004, the Company issued 500,000 shares of common stock in exchange for services valued at $40,000 to consultants. The stock issued was valued at $.08 per share, which represents the fair value of the stock issued, which did not differ materially from the value of the services rendered.
On August 19, 2004, the Company completed a private placement of 9,560,596 shares to accredited investors at a price of $0.1835 per share. As an additional enticement to purchase the shares, one 5-year warrant to purchase stock at $0.1835 was issued for each 5 shares of stock purchased. The private placement resulted in net proceeds to the company of approximately $1,494,937. The Company also issued warrants to purchase 2,670,000 shares at an exercise price of $0.01 per warrant and warrants to purchase 411,104 shares at an exercise price of $0.185 per warrant to its placement agent in connection with the Merger and private placement. The Company has accrued liquidated damages due to these investors totaling $90,058 through, because the Registration Statement, on SEC form SB2, was not declared effective by the SEC within the time frame specified in the Registration Rights Agreement associated with this private placement. The Registration Statement was declared effective in July 2005.
3/I do not see how they can find markets to their
products.
Plan of Operations
We expect to acquire laboratory assets to augment our clinical research and development efforts. As part of this effort, we plan to develop a laboratory facility. We are subleasing our office space in Raleigh, North Carolina until the lease runs out in September 2005. We are also subleasing a portion of our office in Utah.
In addition to 3 Officers, the Company currently has two employees and relies on a number of part-time scientific and business development consultants. During the next 12 months, we anticipate that we will add employees, including scientists and other professionals in the research and development, product development, business development, regulatory, manufacturing, marketing and clinical studies areas.
During the next 12 months, we plan to complete the development of our cervical cancer screening tests. We intend to continue to validate the effectiveness of the processes that we currently use in the tests we are developing through trials which will be conducted for us by Allogen Laboratories, a subsidiary of the Cleveland Clinic. In the near term, we plan to meet with regulatory agencies in the United States and in other countries to determine the clinical trials and studies we will have to undertake and the data and other information we will be required to submit to them to support our future applications for authority to market and sell our planned cervical cancer tests in those countries. We also plan to begin studies and clinical trials in the United States and other countries that will be required in connection with our regulatory applications.
We plan to invest any excess cash we have in investment grade interest bearing securities. We do not anticipate the acquisition of any material property, plant or equipment during the next 12 months, other than computer equipment and peripherals used in our day-to-day operations. We believe we have sufficient resources available to meet these acquisition needs. We do not anticipate investing in real estate or interests in real estate, real estate mortgages, or securities of or interests in persons primarily engaged in real estate activities. We do not intend to undertake investments in real estate as a part of our normal operations. We do not anticipate the disposition of any material property, plant or equipment during the next 12 months.
4/They have no money...Auditor’s Opinion Expressed Doubt About The Company’s Ability to Continue as a “Going Concern”
Liquidity and Capital Resources
As of June 30, 2005, we had total current assets of $443,142 and total current liabilities of $581,603. These current liabilities include $90,058 of accrued liquidated damages owed to investors who purchased shares in July and August of 2004, under the terms of the Registration Rights Agreement associated with this financing. The registration agreement covering the shares was filed on time, but was not effective by the due date. This form SB-2 Registration Statement was declared effective by the Securities and Exchange Commission on July 18, 2005.
Our cash flow deficit from operations was $726,422 during the six months ended June 30, 2005. Additionally we used $5,743 to acquire lab equipment during the period. On June 14, 2005, the Company made an agreement to sell $2,000,000 of convertible debt and issue warrants to buy 7,692,308 shares of our common stock. We sold an initial $700,000 of convertible debt and issued 2,692,307 warrants. Net proceeds after direct financing expenses were $675,000. The bridge loan for $200,000 made to the Company in March 2005 by DCOFI, currently a 5.6% owner of the Company, was paid off by the new financing.
In connection with the Merger, between July 30, 2004 and August 19, 2004, we sold 1,912,125 units in a private placement, at a purchase price of $0.9175 per unit ($0.1835 per share), resulting in gross proceeds to our company of $1,754,375, or $1,494,937 net after deduction of offering costs. Net proceeds after legal, accounting, printing and other fees was approximately $1,437,000. Each unit was comprised of five (5) shares (or 9,560,625 shares) of our common stock and a warrant to purchase one (1) share of our common stock at an exercise price of $0.1835 per share.
Our continuation as a going concern is dependent on our ability to generate sufficient cash flows to meet our obligations on a timely basis and to obtain additional financing as may be required.
Auditor’s Opinion Expressed Doubt About The Company’s Ability to Continue as a “Going Concern”
The independent auditors report on our December 31, 2004 financial statements included in the Company's Annual Report states that the Company's historical losses and the lack of revenues raise substantial doubts about the Company's ability to continue as a going concern, due to the Company's status as a development stage company and its lack of significant operations. If we are unable to develop our business, we have to discontinue operations or cease to exist, which would be detrimental to the value of the Company's common stock. We can make no assurances that our business operations will develop and provide us with significant cash to continue operations.
Grant Life Sciences Expects to Begin Generating Revenues from Sales of its Rapid Tests for Malaria and Dengue Fever Before Year's End
Monday October 24, 9:45 am ET
Products are now being manufactured and prepared for shipment to distribution channels that are already in place
5/even if they do, how much???? sounds like hype
MURRAY, Utah--(BUSINESS WIRE)--Oct. 24, 2005-- Grant Life Sciences (OTC Bulletin Board: GLIF - News) announced today that it expects to begin generating revenues this year, possibly within 30 days, on sales of its rapid tests for Malaria and Dengue Fever. These products, along with rapid tests for HIV-1 and HIV-2, were acquired earlier this year from AccuDx Corp., a biotechnology company based in La Jolla, Calif., founded by Ravi Pottahil, Ph.D., one of the world's leading authorities in the field of HIV/AIDS diagnostics and therapeutics. (Dr. Pottahil was the section manager for retroviruses and tumor markers and PCR diagnostics at Hoffman-La Roche from 1985 to 1992, when he co-founded Specialty BioSystems with Specialty Laboratories, one of the largest independent reference laboratories in California. Dr. Pottathil also was an advisor to the World Health Organization's Sexually Transmitted Diseases and Global Vaccination program.)
ADVERTISEMENT
Under the agreement with AccuDx, Grant Life Sciences controls the exclusive rights to AccuDx's rapid tests, as well as AccuDx's proprietary colloidal gold reagent. In addition, the agreement established the right for Grant Life Sciences to manufacture these products in AccuDx's 'maquiladora'-modeled contract facility in Tijuana, Mexico, which is registered with the FDA and is ISO 9002-certified. Dr. Pottahil is assisting Grant Life Sciences in expanding its product line to include rapid tests for Hepatitis, Rubella, and other common diseases.
"We are very pleased to report that Grant Life Sciences has been successful in re-establishing the first of several distribution channels previously utilized by AccuDx," said Dr. Hun-Chi Lin, President and Chief Scientist at Grant Life Sciences. "Indeed, we expect to have a working marketing-and-sales mechanism in place prior to the approval necessary for us distribute our blood tests in all of the major foreign markets," added Dr. Lin. "While we are very excited by the opportunity to begin generating revenues soon, this situation also solidly positions Grant Life Sciences for the eventual manufacturing and distribution of our core product, the immunological serum-based test for detecting Cervical Cancer and its precursors," Dr. Lin concluded.
"Having our manufacturing operations in place and our distribution channels ready is the most significant milestone yet for Grant Life Sciences," said Stan Yakatan, Chairman of Grant Life Sciences. "Being able to generate revenues from our products in specialty diagnostic markets outside of the U.S. will provide us with some of the resources necessary to move us forward with the clinical validation of our core product, a rapid test for detecting cervical cancer."
6/The chart says it all
http://www.pinksheets.com/quote/chart.jsp?symbol=GLIF&duration=2-6-9-0-0-536
Summery,
The only good positive point i could find is GLIF is not
a pink.
It seems as its behaviour is as most Pinks though.
GLIF has no unique product, neither does it have the marketing
abilities to sell their product.
The wide coverage they enjoy is all paid for in shares, as
they have almost no monies.
These shares are a constant dilution, and is being hyped
pumped and dumped.
I would not touch it with a 10 foot pole, and i recommend
you exit at the first possible spike.
I do not mind some calculated risk.This stock however, makes
no sense, and even as a gamble it looks rotten.
Your chances of losing is by far greater than making some.
JMHO, FWIW.
Dubi
Dubi,
i will remember your advice regarding ihub use.
( p.s. i canot use private reply, it's a premume feature )
Thanks
ES,
Re:GLIF
With such price variations it looks very risky indeed.
I will look into it, and offer my opinion.
Somehow i do not think it will be too positive, but i will
dig in nevertheless, and have my reply by tomorrow.
(I hate checking 'chafif')
Regards,
Dubi
I own SPCBF, like you, i think there is a great potential.
Dubi, take a look at GLIF. IMO big opportunity, but realy realy risky.
i bought some shares (very small amount) at 0.037 when it announced that it expects to begin generating revenues this year, didnt sell when i had the opportunity above 0.05 pps, and now the stock dropped to 0.025 (i doubled my shares).
i intend to hold it until the end of 2006, my target price is 0.2 $ pps (approximately 10 Mill $ Market Cap)
it's real gamble, ill be glad to hear
your opinion.
Thanks
ES
ES,
I prefer being pleasantly surprised than extremely
frustrated.
Hopefully you will be proven right, after all i
will enjoy it as well.
Do you own any other stock from my 'list'
specified in this link?
(#msg-7956246)
Regards,
Dubi
Followers
|
2
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
63
|
Created
|
09/08/05
|
Type
|
Free
|
Moderators |
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |