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Form 8-K for GIGABEAM CORP
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9-Jan-2008
Regulation FD Disclosure
ITEM 7.01 REGULATION FD DISCLOSURE.
On January 9, 2008, we provided a letter to our shareholders as follows:
To Our Shareholders:
As the year 2007 comes to a close, we want to take this opportunity to update you on the steps we are taking and plan to take in 2008 to reposition GigaBeam Corporation for future growth. We have developed a strategic plan for obtaining positive and sustainable cash flow in 2008 that includes the elements described below.
For the past two years, GigaBeam has been promoting a single product used for point to point fixed wireless communications of 1.25 gigabits per second (Gbps) in the wireless bands from 71-86GHz. The 71-86GHz spectrum is new spectrum pioneered by several key parties including the founders of GigaBeam and provides many advantages over previous spectra including 1) low cost licensing, 2) little or no spectrum pollution which can cause interference or prohibit deployment and
3) ability to achieve very high data transfer rates. GigaBeam has explored both product and managed service revenue models in the past and we have found it difficult to achieve profitability or positive cash flow focusing in either model as our product model has been limited to a single product offering and we are not properly capitalized to approach managed services. As part of our repositioning, in the near term, we will shift our focus on driving our equipment business and expanding our product offerings to increase our serviceable market.
Cutting Costs of Operations
But the first step in positioning GigaBeam for positive cash flow and future growth is an aggressive cost-cutting plan. We've established a goal of reducing our monthly cash requirements from nearly $700,000 per month to less than $500,000 per month. We intend to consolidate our business to a single facility operation in Durham, North Carolina. While there will be some initial expense in this consolidation, the move will ultimately lower labor costs and reduce headcount and travel expense.
We must aggressively manage expense across the company. GigaBeam is an early-stage company and must operate like an early-stage company.
Increasing Our Sales Activities
We believe that the next step in achieving positive cash flow is to ramp up our sales activities to increase revenue from sales. The key elements to this step include:
· Increase our sales force by adding additional well-qualified sales personnel in key parts of the globe where the 71-86GHz spectrum is authorized.
· Maximize sales of our 1.25Gbps product while we continue to develop new products (described below).
· Explore potential OEM arrangements (buy/resale and private labeling other manufacturers complementary products) to supplement our offering so we can bundle sell with our 1.25Gbps offering to better meet our customers needs.
· Leverage our expanded product suite to develop relationships with distributors by the end of 2008.
We believe an increased focus on sales efforts is crucial to our future success and the execution of these key elements will put us on the correct path to growth.
New Product Development
We believe our best opportunity to grow our business is the potential of the technology we have developed in the 70/80 GHz spectrum. Historically, we have focused on the 70/80 GHz Gigabit Ethernet Market with our G-1.25 product. In addition to our G-1.25 product, we have pursued other development initiatives to achieve even greater data rates of up to 10Gbps. In 2006, we estimate that the gigabit and greater market was roughly $7,000,000 and that we had $4,800,000 in revenue, or greater than 70%, market share. We believe this is a relatively small market in which we are already the dominant force and while we feel the market is growing, it is not yet growing at a rate that will produce the returns that will satisfy our shareholders. Additionally, in our experience, buyers in this field are highly discriminating and cautious of new technology which creates a long and sometimes expensive sales effort.
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We intend to continue our sales efforts in the 70/80GHz Gigabit Ethernet arena because we believe the long term prospects for this market segment are good. However, we believe our near term growth opportunity in this market is limited. In 2008, we intend to leverage the strength of our 70/80GHz technology to produce products that solve problems in much larger market segments. We are making this adjustment in direction from inputs provided by our current customers and from customers and strategic partners we have been pursuing.
10 Megabits per second (Mbps) Radio Market
We believe the 10Mbps radio market, specifically the point to point market used for communication access applications and low capacity backhaul is a several hundred million dollar market. The products currently servicing this market are below 40GHz and many are unlicensed. Existing licensed solutions have high license costs that can take a long time to obtain. Devices below 40GHz have a high level of spectrum pollution compared to the spectrum GigaBeam uses above 70GHz.
We believe we can deliver a 10Mbps radio well within market costs with a license that can save users $1,000-2,000 per link and that avoids the spectrum pollution problem that customers currently experience. In short, we believe we can offer a more attractive product than is currently offered in the market without a cost increase and with the added benefit of license protection.
100 Megabits Per Second Radio Market
We believe the 100Mbps radio market, specifically the point to point market used for communication access applications and low capacity backhaul, like the 10Mbps segment is a several hundred million dollar market. The 100Mbps segment is more directed toward backhaul of smaller capacity circuits such as 10Mbps links, Wi-Max and next generations of cellular. The products currently available in this market typically operate between 6 and 60 GHz and many bands are unlicensed. Licenses can be difficult to obtain and are costly if they are obtained.
We believe we can deliver a 100Mbps radio at a competitive price, but with easily obtainable licensing that can save users $3,000-10,000 per link, and no spectrum pollution.
We have begun the development efforts for the 10 and 100 Mbps products and we anticipate introduction to the market late in 2008. GigaBeam has not abandoned its long term interest in products up to 10Gbps but we believe the introduction of these new products is critical to achieving positive cash flow in 2008 and profitability shortly thereafter.
Corporate Communications
We evaluated our corporate communications policy to shareholders during 2007 and believe we can make positive changes in the way we communicate in 2008. Because we are a public corporation, we are legally obligated to make some disclosures on Form 8-K, 10-Q, 10-K and others that are required to be filed with the Securities and Exchange Commission and, of course, we will continue with those disclosures. In 2007, we also disseminated press releases on other matters including individual press releases for purchase orders. We believe, going forward, that it would be more beneficial to shareholders that in addition to SEC required communication we will issue press releases only on matters of strategic or financial importance to our shareholders rather than creating separate press releases for each small change in our business. We hope this change will create more transparency in our business and allow the investing public to form a more accurate understanding of our business and prospects.
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You will also notice that we have recently indicated voluntarily delisted from the NASDAQ to the Over the Counter Bulletin Board (OTCBB). The company made this conscious decision based on continued pressure and expense associated with maintaining the minimum listing requirements of the NASDAQ. We believe that every cycle of management time and every dollar we have must be applied to executing on our new product strategy and achieving solid fundamental performance. Once we have a thriving business we will consider the benefit to shareholders to return to the NASDAQ.
We are confident that if we execute on our strategic objectives, we will tap into our full potential, run a business focused on fundamental performance and reach a trajectory for profitability. We are moving into the next year with confidence in our plan and with focus on moving the business to profit. We will continue to listen to our customers to improve our products as we have in sharing this new strategy with you.
We thank you deeply for your continued interest and support.
Sincerely,
S. Jay Lawrence
Chief Executive Officer
GigaBeam Corporation
The information in this current report on Form 8-K shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act") or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, unless we specifically incorporate the foregoing information into those documents by reference.
This report contains forward-looking statements that involve risks and uncertainties. You should not place undue reliance on these forward-looking statements. Our actual results could differ materially from those anticipated in the forward-looking statements for many reasons, including the risks described in our Form 10-KSB and other reports we file with the Securities and Exchange Commission. Although we believe the expectations reflected in the forward-looking statements are reasonable, they relate only to events as of the date on which the statements are made. We do not intend to update any of the forward-looking statements after the date of this document to conform these statements to actual results or to changes in our expectations, except as required by law.
GGBM Chart
Come by RDBSC and request an annotated chart
http://investorshub.advfn.com/boards/board.asp?board_id=8363
All we do over there is call 'em up and down!
http://investorshub.advfn.com/boards/read_msg.asp?message_id=25917247
Man, What a ride this has been today!
I would have thought the forum would have been busy. Nothing posted since Nov on here. Are any of you all still invested in GGBM?
I sold some for 52% profit in less than a week. Anyone else sell? Or holding for higher PPS?
Press Release Source: NextPhase Wireless
NextPhase and GigaBeam to Develop Joint Venture Partnership
Monday November 26, 9:00 am ET
Companies to Develop Metro Ethernet Networks and New Service Offering to Deliver High Capacity Users With Up to 1 Gbps in High End Business-Class Broadband Connectivity
ANAHEIM, CA and DURHAM, NC--(MARKET WIRE)--Nov 26, 2007 -- NextPhase Wireless, Inc. (OTC BB:NPHS.OB - News), a nationwide developer of WiMAX-ready networks and provider of advanced wireless broadband solutions, and GigaBeam Corporation (NasdaqCM:GGBM - News), a company engaged in deploying market proven disruptive "wireless fiber optics" WiFiber® technology to economic centers across the globe, today jointly announced that the Companies have signed a Memorandum of Understanding (MOU) which will serve as the basis for the formation of a Joint Venture (JV) partnership between the Companies.
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The JV will provide for NextPhase and GigaBeam to collaborate on building a 70 GHz and 80 GHz wireless network in Los Angeles and Orange counties in Southern California. The network will utilize GigaBeam's WiFiber links which, in tandem with other GigaBeam wireless technologies, will enable NextPhase to offer its customers in that region business class connectivity services at broadband speeds up to 1 Gbps.
The WiFiber component of the network is expected to be the transport element, providing for greater resiliency, flexibility and scalability to support existing NextPhase customers, as well as the expansion of its customer base in both number of end users and increased capacity per user. Upon successful roll-out of the new wireless broadband network across Los Angeles and Orange counties, the Companies hope to replicate the network and associated service offerings in other regions throughout NextPhase's expanding national footprint.
Tom Hemingway, Chairman and COO of NextPhase, stated, "We are excited about the potential benefits that this new relationship could produce for both NextPhase and GigaBeam. It is very timely because we are finding that both enterprise and municipal users are demanding significant network capacity and much faster wireless broadband connectivity to support their remote office locations and work forces, web-enabled business functions and increasing number of digital applications. Moreover, costs typically associated with deploying traditional high capacity local and wide area networks utilizing terrestrial fiber are in many cases prohibitive. As a consequence, productivity levels and workflow processes can be compromised -- especially in instances where speed, access and bandwidth requirement are mission critical."
"Our new business relationship with GigaBeam has been evolving quickly, due largely to our mounting appreciation for their innovative WiFiber solution, coupled with the pace at which the U.S. demand for wireless service is growing," continued Hemingway. "With GigaBeam, NextPhase is empowered to materially change the competitive playing field in those markets we serve -- providing us with a greatly enhanced wireless broadband service offering that few, if any, can match when combining price, deployment speed and capacity considerations. Consequently, it was a natural next step for us to begin exploring creative ways for NextPhase and GigaBeam to formally partner so that we may each benefit from prevailing opportunities being fueled by rising enterprise and government demand for high end, high capacity broadband connectivity and Internet access."
Louis Slaughter, Chairman and CEO of GigaBeam, stated, "The management teams of our respective companies are fully in sync on the potential for our disruptive technology to enable the creation of next generation metro Ethernet carriers. NextPhase has an aggressive plan for expansion across the country which includes strategic acquisitions of Internet Service Providers and other types of telecommunication carriers. I believe that our expertise, technology and products can be an important strategic component of their plans for expansion by enabling NextPhase to strengthen its overall value proposition to customers located throughout its national footprint. In addition, the MOU contemplates that GigaBeam is to receive a share of revenue from the venture which continues to be a very important goal of our Company. Based upon NextPhase's expansion plans, this recurring revenue could be significant for GigaBeam which could add considerable long term value to our Company."
"Even though there has been acceptance of our technology in the metro Ethernet market," continued Slaughter. "I believe that the management of NextPhase has a profound appreciation for the power of our WiFiber product solution, and its ability to empower NextPhase to build out metro networks across cities and metro areas for up to 1/50th of the cost of deploying terrestrial fiber, while also having the ability to rapidly install, redeploy and scale capacity to match customer demand. Just as important, NextPhase will be able to build out networks which will not depend on buying wholesale capacity from the local incumbent telecom carriers. Instead, they will be able to bypass the incumbent carriers' local loop in any of the cities in which they operate and connect directly to points-of-presence with facilities provided by multiple independent cross country carriers. In short, all NextPhase needs in any city in which it operates is a point-of-presence and our technology, and they can be totally emancipated from having to deal with the incumbent local exchange carrier."
About GigaBeam Corporation
GigaBeam's WiFiber® product ushers in a new era of communications by allowing customers to bypass the restrictive telecom oligopoly and connect directly to any city's fiber optics hub or Point-of-Presence (POP). The disruptive impact of an easily deployable, low cost alternative to fiber optics cables is difficult to overestimate, especially since WiFiber's point-to-point high-speed units transmit data via the highest approved radio frequency at speeds equal to 641 T1 lines or 1000 DSL lines.
Current GigaBeam partners, customers and end users include Google, Verizon, ING, Sprint, and the Department of Defense, as well as several cities and universities, including San Francisco and Boston University. The Company has implemented strategy to expand into major metropolitan areas around the world.
GigaBeam's management team, which pioneered rule making in the 70GHz and 80GHz spectrum, is fully committed to augmenting current revenues through a network of authorized dealers and resellers across North America, South America, Europe, Africa, the Middle East, India and Asia that have local expertise and established contacts. GigaBeam is a company with market disruptive wireless technology, a pioneering management team and a worldwide network dedicated to penetrating major metropolitan markets around the globe. To learn more about GigaBeam's revolutionary wireless technology, please visit www.gigabeam.com/.
About NextPhase Wireless, Inc.
With a mission to build a device-agnostic, WiMAX-ready, wireless broadband connectivity/content delivery platform serving all 48 contiguous U.S. states, NextPhase Wireless, Inc. is focused on delivering integrated Internet, voice, video and managed services to its fast growing customer and client base which currently numbers more than 10,000. Engaged in designing, deploying and operating its own WiMAX-ready wireless networks and providing advanced wireless technology solutions to both businesses and municipalities, the Company is currently providing wireless broadband coverage in California and Nevada and Internet Service Provider (ISP) coverage in 19 states throughout the country. For more information, please visit www.npwireless.com, www.speedfactory.com and www.jersey.net.
This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project," "expect" or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, acceptance of the Company's current and future products and services in the marketplace, the ability of the Company to develop effective new products and receive regulatory approvals of such products, competitive factors, dependence upon third-party vendors, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.
Contact:
GIGABEAM CORPORATION
Investor Contact
Mark Hahn
Tel: 919-313-3992
Email: Mark.Hahn@gigabeam.com
Company Contact
Marijke McCandless
Director, Marketing Communications and Investor Relations
Tel: 919.599.6210
Email: Marijke.mccandless@gigabeam.com
NEXTPHASE WIRELESS, INC.
FOR INVESTOR & MEDIA RELATIONS, PLEASE CONTACT:
Elite Financial Communications Group, LLC
Dodi Handy
President and CEO
Daniel Conway
Chief Strategist
407-585-1080
email: NXPW@efcg.net
Source: NextPhase Wireless
Press Release Source: GigaBeam Corporation
GigaBeam Announces Initial Purchase Order from Video Game Developer in Illinois
Wednesday November 14, 3:30 am ET
GigaBeam Offers Solution to Businesses Needing Immediate Deployment of Fiber-Like Speeds When Delays in Deploying Fiber are Unacceptable
DURHAM, N.C.--(BUSINESS WIRE)--GigaBeam Corporation (NASDAQ:GGBM - News), deploying WiFiber® “wireless fiber optics” technology to economic centers across the globe, announced today that the Company received a purchase order for one link from an Illinois-based developer of popular video games for PCs and MACs, as well as the Playstation 2 and Xbox 360 consoles.
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The order further validates GigaBeam’s unique ability to deploy WiFiber within a short time frame. The customer was moving to a new location and needed immediate Internet connectivity. Since the local Competitive Local Exchange Carrier (or CLEC) reportedly could not provide connectivity within an acceptable time frame, the customer chose GigaBeam.
“We are pleased to be able to offer such companies a solution to an otherwise untenable situation,” said Louis Slaughter, Chairman and Chief Executive Officer of GigaBeam. “We believe this is a relatively common occurrence for companies needing to maintain connectivity during moves or with the creation of new business sites and we are pleased to be able to provide a timely and an economically viable solution.”
GigaBeam’s WiFiber technology is similar to terrestrial fiber in terms of speed and reliability. WiFiber has a substantial advantage over terrestrial fiber because WiFiber can be rapidly deployed and costs less to deploy than terrestrial fiber. Terrestrial fiber can take months to deploy and also requires significant regulatory and environmental approvals prior to installation.
About GigaBeam Corporation
GigaBeam's WiFiber® product ushers in a new era of communications by allowing customers to bypass the restrictive telecom oligopoly and connect directly to any city's fiber optics hub or Point-of-Presence, (POP.) The transformative impact of an easily deployable, low cost alternative to fiber optics cables is difficult to overestimate, especially since WiFiber's point-to-point high-speed units transmit data via the highest approved radio frequency at speeds equal to 647 T1 lines or 1,000 DSL lines.
Current GigaBeam partners, customers and end users include Google, Sprint, The Department of Defense, as well as several cities and universities including San Francisco and Boston University. The Company is implementing strategies to expand into major metropolitan areas around the world.
GigaBeam's management team, which pioneered rule making in the 70GHz and 80GHz spectrum, intends to augment current revenues through a network of authorized dealers and resellers across North America, South America, Europe, Africa, the Middle East, India and Asia that have local expertise and established contacts. GigaBeam is a company with market transformative wireless technology, a pioneering management team and a worldwide network dedicated to penetrating major metropolitan markets around the globe.
To learn more about GigaBeam's revolutionary wireless technology, please visit www.gigabeam.com/.
For investor-specific information and resources, visit http://www.trilogy-capital.com/tcp/gigabeam.
To view current stock quotes and news, visit http://www.trilogy-capital.com/tcp/gigabeam/quote.html.
To view an investor fact sheet about the company, visit http://www.trilogy-capital.com/tcp/gigabeam/factsheet.html.
Safe Harbor Statement
Statements in this press release regarding GigaBeam's products, services, capabilities, performance, opportunities, development and business outlook that are forward-looking involve and are subject to known and unknown risks, uncertainties and other factors, some of which are beyond GigaBeam's control and difficult to predict, and could cause actual results to differ materially from these anticipated, expressed or forecasted in the forward-looking statements. Such risks and uncertainties may include, but are not limited to: limited capital resources and continued dependence of our operations on additional financing, limited operating history, difficulties in distinguishing GigaBeam's products and services, ability to manufacture and deploy GigaBeam's products, lack of or delay in market acceptance and fluctuations in customer demand, dependence on a limited number of significant customers, reliance on third party vendors and strategic partners, availability of raw materials, subassemblies and components, ability to meet future capital requirements on acceptable terms, continuing uncertainty in the telecommunications industry and the global economy, intense competition in the telecommunications equipment industry and resulting impact on pricing and general financial performance, compliance with federal and state regulatory requirements, timing, availability and success of new technology and product introductions and the other factors discussed in GigaBeam's filings with the Securities and Exchange Commission. GigaBeam does not intend to update the statements in this press release to conform to actual results unless required by law.
Contact:
GigaBeam Corporation
Investor Contact:
Mark Hahn, 919-313-3992
Mark.Hahn@gigabeam.com
or
Marijke McCandless, 919-599-6210
Director, Marketing Communications and Investor Relations
Marijke.mccandless@gigabeam.com
Source: GigaBeam Corporation
Weeeeeeeeeeeeeeeeeeeeeeee
Press Release Source: GigaBeam Corporation
GigaBeam Announces Additional Order from Department of Defense to Support U.S. Navy
Monday November 12, 3:30 am ET
Company Continues to Penetrate Global Government Market with More Than 75 Links Sold to Government Agencies Worldwide
DURHAM, N.C.--(BUSINESS WIRE)--GigaBeam Corporation (NASDAQ:GGBM - News), deploying WiFiber® “wireless fiber optics” technology to economic centers across the globe, announced today that it has received an order for one WiFiber link from a key reseller, Solana Technologies (STI), to be implemented by the United States Department of Defense to support the U.S. Navy. The Company continues to penetrate the multibillion dollar Defense market with 27 links already sold to the Department of Defense, and more than 75 links sold to major government agencies around the world.
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STI provides advanced network and communications solutions to a wide range of commercial enterprises and governmental agencies. The company has designed and implemented complex wireless solutions for over 1000 companies during the last 20 years.
“We believe that Defense and Security applications will continue to be a vital and important market for GigaBeam’s advanced wireless broadband technology,” said Louis Slaughter, Chief Executive Officer of GigaBeam. “We are thrilled to have the track record of repeat business from the government sector and we look forward to working with STI as we expand our product offerings to meet the demands of our growing market.”
GigaBeam’s WiFiber technology is similar to terrestrial fiber in terms of speed and reliability. WiFiber has a substantial advantage over terrestrial fiber because WiFiber can be rapidly deployed and costs less to deploy than terrestrial fiber. Terrestrial fiber can take months to deploy and also requires significant regulatory and environmental approvals prior to installation.
WiFiber is a truly market changing technology that enables applications such as VoIP, Internet, video and data transmission with the security, high-speed and robustness comparable to traditional fiber optic cables, but with all the advantages of wireless technology.
About GigaBeam Corporation
GigaBeam's WiFiber® product ushers in a new era of communications by allowing customers to bypass the restrictive telecom oligopoly and connect directly to any city's fiber optics hub or Point-of-Presence (POP). The disruptive impact of an easily deployable, low cost alternative to fiber optics cables is difficult to overestimate, especially since WiFiber's point-to-point high-speed units transmit data via the highest approved radio frequency at speeds equal to 641 T1 lines or 1000 DSL lines.
Current GigaBeam partners, customers, and end users include Google, Sprint, The Department of Defense, as well as several cities and universities such as San Francisco and Boston University. The Company has implemented strategy to expand into major metropolitan areas around the world.
GigaBeam's management team, which pioneered rule making in the 70GHz and 80GHz spectrum, is fully committed to augmenting current revenues through a network of authorized dealers and resellers across North America, South America, Europe, Africa, the Middle East, India and Asia that have local expertise and established contacts. GigaBeam is a company with market disruptive wireless technology, a pioneering management team and a worldwide network dedicated to penetrating major metropolitan markets around the globe.
To learn more about GigaBeam's revolutionary wireless technology, please visit www.gigabeam.com/.
For investor-specific information and resources, visit http://www.trilogy-capital.com/tcp/gigabeam.
To view current stock quotes and news, visit http://www.trilogy-capital.com/tcp/gigabeam/quote.html.
To view an investor fact sheet about the company, visit http://www.trilogy-capital.com/tcp/gigabeam/factsheet.html.
Safe Harbor Statement
Statements in this press release regarding GigaBeam's products, services, capabilities, performance, opportunities, development and business outlook that are forward-looking involve and are subject to known and unknown risks, uncertainties and other factors, some of which are beyond GigaBeam's control and difficult to predict, and could cause actual results to differ materially from these anticipated, expressed or forecasted in the forward-looking statements. Such risks and uncertainties may include, but are not limited to: limited capital resources and continued dependence of our operations on additional financing, limited operating history, difficulties in distinguishing GigaBeam's products and services, ability to manufacture and deploy GigaBeam's products, lack of or delay in market acceptance and fluctuations in customer demand, dependence on a limited number of significant customers, reliance on third party vendors and strategic partners, availability of raw materials, subassemblies and components, ability to meet future capital requirements on acceptable terms, continuing uncertainty in the telecommunications industry and the global economy, intense competition in the telecommunications equipment industry and resulting impact on pricing and general financial performance, compliance with federal and state regulatory requirements, timing, availability and success of new technology and product introductions and the other factors discussed in GigaBeam's filings with the Securities and Exchange Commission. GigaBeam does not intend to update the statements in this press release to conform to actual results unless required by law.
Contact:
GigaBeam Corporation
Mark Hahn, 919-313-3992 (Investor)
Mark.Hahn@gigabeam.com
or
Marijke McCandless, 919-599-6210
Director, Marketing Communications and Investor Relations
Marijke.mccandless@gigabeam.com
Source: GigaBeam Corporation
Ty for the info
hi watt, good afternoon. it still is holding doubler action. that's good.
Detailed Quote for Gigabeam Corp. DL 10/6/2007 1:20 PM
GGBM Last: 4.346 Change: -0.064(-1.45%) Volume: 47.93 k Last Trade: 10/5/07
Press Release Source: GigaBeam Corporation
GigaBeam Announces Next Generation Broadband Wireless Technology Showcased by Italian Regional Government to Bridge the Digital Divide
Thursday October 4, 8:01 am ET
Event to Feature WiFiber as a Solution for European Union's Initiative to Provide Internet Access to Remote European Regions
DURHAM, N.C.--(BUSINESS WIRE)--GigaBeam Corporation (NASDAQ:GGBM - News), deploying WiFiber® "wireless fiber optics" technology to economic centers across the globe, has announced that the Company's next generation wireless broadband technology will be showcased as a viable, cost-effective solution to bridge the digital divide today at a press conference at the Alpi365 event (www.alpi365.it) in Turin, Italy.
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The announcement, expected to be made by high-profile officials from the Region of Piemonte, will detail how WiFiber is being used to extend and increase the value of its Regional backbone, named WI-PIE, allowing local operators to bring broadband services to areas that previously have been on the underserved side of the digital divide.
The event further validates the Company's mission to capitalize on the European Union and Member State's initiative to bridge the digital divide between the continents digitally well served major cities and the poorly served surrounding towns and villages.
This is the second flagship program using GigaBeam's WiFiber technology to bridge the digital divide following on from an installation near Bordeaux, France which has been operational for over a year.
GigaBeam's WiFiber technology provides an ideal alternative solution for the European Union in terms of providing fast and reliable broadband internet access without having to install miles of underground terrestrial fiber, which requires significant regulatory and environment approvals prior to installation. The Company believes that utilizing WiFiber technology will open broadband internet access to remote regions of Europe at a fraction of the cost and within weeks, rather than years that it would take for the terrestrial fiber optics infrastructure to reach the same areas.
The Company also believes that the significantly greater bandwidth of GigaBeam's WiFiber technology, compared to competing systems, will allow many more towns and villages to be connected wirelessly with users having access to relatively larger amounts of bandwidth.
"This event is a good example of the opportunities that exist for GigaBeam within emerging regions of advanced industrial nations such as Italy," said Louis Slaughter, Chairman and Chief Executive Officer of GigaBeam. "We are very excited about providing Europe with an effective solution that will connect remote regions while maintaining the integrity and beauty of the continent's natural environment."
GigaBeam WiFiber products operate in the 71-76 GHz and 81-86 GHz upper millimeter wave spectrum bands. The Federal Communications Commission and the European Conference of Postal and Telecommunications Administrations (CEPT) and certain other countries have authorized this portion of the spectrum for licensed wireless commercial use.
hi K, good afternoon. this one is showing strong indications that it wants to go higher.
Detailed Quote for Gigabeam Corp. DL 10/2/2007 12:40 PM
GGBM Last: 4.04 Change: +0.06(+1.51%) Volume: 15.54 k Last Trade: 12:29
2nd Quarter report not bad - wait for 3rd Quarter ...
Press Release Source: GigaBeam Corporation
GigaBeam Reports Record Sales for Calendar Q2, 2007
Friday August 31, 6:34 pm ET
Continued Growth Punctuated by Year-to-Date Net Loss Narrowing by 46%
DURHAM, N.C.--(BUSINESS WIRE)--GigaBeam Corporation (NASDAQ:GGBM - News), deploying WiFiber® "wireless fiber optics" technology to economic centers across the globe, today reported record financial results for its fiscal quarter ended June 30, 2007.
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Sales for the second quarter of 2007 increased 196% to $2,068,353 as compared to $696,657 in the second quarter of 2006 primarily as a result of a 221% increase in product sales and a 36% increase in average selling prices, partially offset by a decrease in parts sales.
Gross profit for the second quarter of 2007 decreased 16% to $358,866 as compared to $429,101 resulting in gross margin for the second quarter of 2007 of 17% compared to 62% for the prior year's comparable quarter primarily due to a charge of $763,524 for inventory obsolescence and a higher commission rate on one of the Company's larger sales.
Operating expenses for the second quarter of 2007 decreased 56% to $2,449,199 as compared to $5,539,353 in the second quarter of 2006 resulting from the cost cutting efforts initiated in the first quarter of 2006 including a 50% reduction in staff levels, the discontinuance of the company's after-sales support office and management salary reductions.
The net loss for the second quarter of 2007 decreased 56% to ($2,314,787) or ($0.46) per diluted share as compared to ($5,342,938) or ($0.99) per diluted share for the second quarter of 2006, resulting primarily from cost reduction efforts initiated by the company in the first quarter of 2007. Year to date the net loss has decreased by 46% to ($5,425,841) or ($1.09) per diluted share as compared to ($10,123,802) or ($1.98) per diluted share for the comparable period in 2006.
"These results demonstrate our commitment to operating the business efficiently and we believe that our bottom line is trending towards achieving profitability," said Louis Slaughter, Chairman and Chief Executive Officer of GigaBeam. "The revenue for the quarter was a record for the Company since its IPO and we witnessed a significant decrease in our net operating loss for the quarter. We believe we are continuing to make progress towards achieving strong fundamentals and on our overriding mission to build long-term shareholder value."
Slaughter added, "We continue to finance our operations through investor financing and customer receipts. To that end, as previously disclosed, we closed a Series D preferred stock offering in August. Our auditors have nearly completed their work on our Form 10-QSB and we expect to file it shortly as they complete their procedures. We will promptly notify the public should their procedures result in any adjustment to our financial results."
GigaBeam's WiFiber technology is similar to terrestrial fiber in terms of speed and reliability. WiFiber has a substantial advantage over terrestrial fiber because it can be rapidly deployed and costs significantly less to deploy than terrestrial fiber. Terrestrial fiber can take months to deploy and also require significant regulatory and environmental approvals prior to installation.
GigaBeam WiFiber products operate in the 71-76 GHz and 81-86 GHz upper millimeter wave spectrum bands. The Federal Communications Commission and the European Conference of Postal and Telecommunications Administrations (CEPT) and certain other countries have authorized this portion of the spectrum for licensed wireless commercial use.
About GigaBeam Corporation
GigaBeam's WiFiber® product ushers in a new era of communications by allowing customers to bypass the restrictive telecom oligopoly and connect directly to any city's fiber optics hub or Point-of-Presence (POP). The disruptive impact of an easily deployable, low cost alternative to fiber optics cables is difficult to overestimate, especially since WiFiber's point-to-point high-speed units transmit data via the highest approved radio frequency at speeds equal to 641 T1 lines or 1000 DSL lines.
Current GigaBeam partners, customers, and end-users include Google, Sprint, The Department of Defense, as well as several cities and universities such as San Francisco and Boston University. The Company has implemented a strategy to expand into major metropolitan areas around the world.
GigaBeam's management team, which pioneered rule making in the 70GHz and 80GHz spectrum, is fully committed to augmenting current revenues through a network of authorized dealers and resellers across North America, South America, Europe, Africa, the Middle East, India and Asia that have local expertise and established contacts. GigaBeam is a company with market disruptive wireless technology, a pioneering management team and a worldwide network dedicated to penetrating major metropolitan markets around the globe.
To learn more about GigaBeam's revolutionary wireless technology, please visit www.gigabeam.com/.
For investor-specific information and resources, visit http://www.trilogy-capital.com/tcp/gigabeam.
To view current stock quotes and news, visit http://www.trilogy-capital.com/tcp/gigabeam/quote.html.
To view an investor fact sheet about the company, visit http://www.trilogy-capital.com/tcp/gigabeam/factsheet.html.
Safe Harbor Statement
Statements in this press release regarding GigaBeam's products, services, capabilities, performance, opportunities, development and business outlook that are forward-looking involve and are subject to known and unknown risks, uncertainties and other factors, some of which are beyond GigaBeam's control and difficult to predict, and could cause actual results to differ materially from these anticipated, expressed or forecasted in the forward-looking statements. Such risks and uncertainties may include, but are not limited to: limited capital resources and continued dependence of our operations on additional financing, limited operating history, difficulties in distinguishing GigaBeam's products and services, ability to manufacture and deploy GigaBeam's products, lack of or delay in market acceptance and fluctuations in customer demand, dependence on a limited number of significant customers, reliance on third party vendors and strategic partners, availability of raw materials, subassemblies and components, ability to meet future capital requirements on acceptable terms, continuing uncertainty in the telecommunications industry and the global economy, intense competition in the telecommunications equipment industry and resulting impact on pricing and general financial performance, compliance with federal and state regulatory requirements, timing, availability and success of new technology and product introductions and the other factors discussed in GigaBeam's filings with the Securities and Exchange Commission. GigaBeam does not intend to update the forward-looking statements except as required by law.
GigaBeam Corporation
Condensed Consolidated Balance Sheets
(Unaudited)
June 30, December 31,
2007 2006
------------ -------------
ASSETS
-------------------------------------------
Current assets:
Cash and cash equivalents $ 53,084 $ 653,734
Accounts receivable, net of allowance of
$580,852 and $533,766 at June 30, 2007 and
December 31, 2006, respectively 1,189,826 807,500
Inventories, net 4,230,506 7,621,574
Prepaid expenses and other current assets 219,035 568,711
----------- -----------
Total current assets 5,692,451 9,651,519
Inventories - non current, net 1,999,983 --
Property and equipment, net 1,643,440 1,986,735
Other assets 455,347 445,630
Debt issuance costs 52,556 181,976
----------- -----------
Total assets $ 9,843,777 $ 12,265,860
=========== ===========
LIABILITIES AND STOCKHOLDERS' EQUITY
-------------------------------------------
Current liabilities:
Accounts payable $ 2,856,150 $ 1,891,077
Accrued liabilities 1,267,587 1,416,716
Current portion of capital lease
obligations 28,899 29,125
Convertible notes payable, net of discount 218,636 --
Notes payable, other current 651,866 --
Note payable, related party 65,000 --
----------- -----------
Total current liabilities 5,088,138 3,336,918
Capital lease obligations, non-current 26,996 41,159
Convertible notes payable, net of discount -- 1,051,036
----------- -----------
Total liabilities 5,115,134 4,429,113
Stockholders' equity:
Series A redeemable preferred stock, $0.001
par value, 20,000 shares authorized;
11,277 shares issued and outstanding at
June 30, 2007 and December 31, 2006 11 11
Series B convertible preferred stock,
$0.001 par value; 20,000 shares
authorized; 15,100 shares issued and
outstanding at June 30, 2007 and December
31, 2006 15 15
Series C convertible preferred stock,
$0.001 par value; 10,000 shares
authorized; 10,000 shares issued and
outstanding at June 30, 2007 and December
31, 2006 10 10
Common stock, $0.001 par value, 40,000,000
shares authorized; 6,680,540 and 6,099,279
shares issued and outstanding at June 30,
2007 and December 31, 2006, respectively 6,681 6,099
Additional paid-in capital 53,193,686 50,876,530
Accumulated deficit (48,471,760) (43,045,918)
----------- -----------
Total stockholders' equity 4,728,643 7,836,747
----------- -----------
Total liabilities and stockholders' equity $ 9,843,777 $ 12,265,860
=========== ===========
GigaBeam Corporation
Condensed Consolidated Statements of Operations
(Unaudited)
Three Months Ended Six Months Ended
------------------------- --------------------------
June 30, June 30,
------------------------- --------------------------
2007 2006 2007 2006
------------------------- --------------------------
Net Sales $ 2,068,563 $ 696,657 $ 2,352,705 $ 2,355,198
Cost of sales 1,709,697 267,556 1,871,789 1,753,190
------------------------- --------------------------
Gross margin 358,866 429,101 480,916 602,008
------------------------- --------------------------
Operating
expenses:
Research and
development 850,557 1,290,675 1,506,438 2,632,357
General and
administrative 894,338 2,009,840 2,109,671 3,543,383
Selling and
marketing 395,625 1,361,636 918,365 2,536,456
Service, install
and link
operations 308,679 877,202 676,113 1,545,395
------------------------- --------------------------
Total operating
expenses 2,449,199 5,539,353 5,210,587 10,257,591
------------------------- --------------------------
Operating loss (2,090,333) (5,110,252) (4,729,671) (9,655,583)
Other income
(expense):
Interest income 1,512 55,950 2,043 149,783
Interest expense (225,966) (288,636) (661,516) (618,002)
Loss on Asset
Disposal -- -- (36,698) --
------------------------- --------------------------
Loss before
provision for
income taxes (2,314,787) (5,342,938) (5,425,842) (10,123,802)
Provision for
income taxes -- -- -- --
------------------------- --------------------------
Net loss $(2,314,787) $(5,342,938) $(5,425,842) $(10,123,802)
------------------------- --------------------------
Series B
convertible
preferred stock
dividend (306,000) (371,311) (604,000) (602,345)
Series C
convertible
preferred stock
dividend (216,000) -- (400,000) --
Increasing rate
preferred stock
non-cash
dividend (176,384) -- (529,152) --
------------------------- --------------------------
Net loss
allocated to
common
shareholders $(3,013,171) $(5,714,249) $(6,958,994) $(10,726,147)
========================= ==========================
Basic and diluted
loss per share $ (0.46) $ (0.99) $ (1.09) $ (1.98)
========================= ==========================
Basic and diluted
weighted average
shares
outstanding 6,480,280 5,749,024 6,381,597 5,419,978
========================= ==========================
Contact:
GigaBeam Corporation
Investor Contact:
Mark Hahn, 919-313-3992
Mark.Hahn@gigabeam.com
or
Company Contact:
Marijke McCandless
Director, Marketing Communications and Investor Relations
919-599-6210
Marijke.mccandless@gigabeam.com
Source: GigaBeam Corporation
Anybody have any idea how much one of these systems cost?
Press Release Source: GigaBeam Corporation
GigaBeam Announces Further Penetration in European Market Following Contract for Deployment of Proprietary Wireless Broadband Technology in Czech Republic
Monday August 20, 4:01 pm ET
Deployment Further Validates Company's Commercialization Strategy to Expand Around the World
DURHAM, NC--(BUSINESS WIRE)--GigaBeam Corporation (NASDAQ:GGBM - News), deploying "wireless fiber optics" technology to economic centers across the globe, announced today that it has received a contract for deployment of a WiFiber® link from a direct sale to a new customer in the Czech Republic, opening up a new country and market.
ADVERTISEMENT
GigaBeam's WiFiber technology is similar to terrestrial fiber in terms of speed and reliability. WiFiber has a substantial advantage over terrestrial fiber because it can be rapidly deployed and costs significantly less to deploy than terrestrial fiber. Terrestrial fiber can take months to deploy and also require significant regulatory and environmental approvals prior to installation.
"Emerging economies such as the Czech Republic where wireless infrastructures are not as developed represent an ideal market for GigaBeam products that provide individuals and business with easily deployable broadband Internet access," said Louis Slaughter, Chairman and Chief Executive Officer of GigaBeam. "We look forward to expanding our footprint in the Czech Republic and developing new sales leads in the near future."
GigaBeam WiFiber products operate in the 71-76 GHz and 81-86 GHz upper millimeter wave spectrum bands. The Federal Communications Commission and the European Conference of Postal and Telecommunications Administrations (CEPT) and certain other countries for licensed wireless commercial use have authorized this portion of the spectrum.
a very nice mover to say the least.
Finally Went Up!
hey big swinger,
Detailed Quote for Gigabeam Corp. DL 7/24/2007 2:45 AM
GGBM Last: 4.85 Change: +2.05(+73.21%) Volume: 8.35 m Last Trade: 7/23/07
Today 5 Dy 1 Mo 3 Mo 1 Yr more
Last Price
4.85
Change $
2.05
Change %
73.21%
Tick
Bid
5.09
Bid Size
1300
Ask
5.15
Ask Size
200
Open
4.01
High
7.31
Low
4.01
Prev Close
2.80
Last Trade
7/23/07
Volume
8.35 m
close52 Week Information
52 Week High
July 25,2006
Close: 9.55 52 Week Low
February 07,2007
Close: 2.06 52 Wk Hi
9.55
52 Wk Low
2.06
Market Cap
31.76 m
Ex-Div Date
N/A
Div Rate
N/A
Yield
N/A
Shares
6.55 m
EPS (TTM)
-3.95
PE Ratio
N/A
Exchange
NSC
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Mon, Jul 23, 2007
4:03 PM GigaBeam Announces Investor Conference Call on July 25 to Discuss Recent Milestone Order and Strategic Initiatives for 2007 and Beyond - Business Wire
12:44 PM (OTC: IXOG) Tri-State Capital Begins Coverage - Market Wire
9:25 AM SmallCap Sentinel: The Breakthrough Deal - PrimeNewswire
Fri, Jul 20, 2007
5:21 PM GigaBeam Announces Milestone Orders for Deployment of Company's Next-Generation Wireless Technology for Major U.S. Metro Market - Business Wire
Fri, Jul 13, 2007
4:02 PM GigaBeam Announces Engagement of Trilogy Capital Partners to Spearhead Financial Marketing and Investor Relations Initiatives - Business Wire
Thu, Jul 12, 2007
6:30 AM GigaBeam Regains NASDAQ Compliance - Business Wire
Tue, Jul 10, 2007
9:41 AM GigaBeam Announces Promotion of S. Jay Lawrence as President and Chief Operations Officer - Business Wire
Thu, Jun 21, 2007
11:28 AM GigaBeam Receives Additional Order for WiFiber(R) Links from an Australian Reseller - Business Wire
Tue, Jun 19, 2007
10:40 AM GigaBeam Launches New Product - Business Wire
Mon, Jun 18, 2007
12:48 PM GigaBeam Receives $230,000 Order for a Project in the United Arab Emirates - Business Wire
More News for GGBM More Filings for GGBM
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hi T,,,what's over finally or just finally?
Weeeeeeee..Been Holding This One Forever..FINALLYYYYYYYYYYYYYYYYYYYYYYYYYYYY
Who woulda thunk it. Zowwwweee! Some ruthless daytrading goin on fo sho!....out at 7.29 Thank you, thank you.
hi trythisagain, good morning ya got a hot one this morning.
say i sent ya a pm.
Awesome Channels...Easy Money..weeeeeeeeee
Well, you were right:) Congrats!
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