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MS will make a lot more if he can sell at a price where we all make money. It is the only way it works at OTCB I believe pwood. If txpo will have constantly better and better results , only then the price will go up.
On the basis of the financials in the past the company was worth less than one cent.(look at their net asset value) It is only because of the expectations that we are in it at this time and we pay more than the bookvalue.
By the way , take a look at Manaris (mans) board as the results are out today .As for txpo I also have great expectations there but it is a frustrating long process ,
FOR IMMEDIATE RELEASE
MANARIS CORPORATION REPORTS ALL-TIME RECORD REVENUE FOR FISCAL YEAR 2007
Full Year Revenue Increased 78% to $18.7 Million; Operating Loss Narrows to $1.18 Million; Avensys Inc. Records Profit for the First Time
Montreal – September 27, 2007 – Manaris Corporation (OTCBB: MANS, Frankfurt WKN: A0F5LD), a leading manufacturer and distributor of fiber optic components and integrator of instrumentation and turn-key systems for environmental monitoring, today reported its financial results for the fourth quarter and year ended June 30, 2007.
Fiscal Year 2007 Highlights:
Revenues climbed to $18.7 million versus $10.5 million for the same period last year;
Operating loss, after impact of investment tax credit, narrowed to $1.18 million compared to $7.28 million a year earlier;
Net cash used from Operating Activities totaled $2.42 million versus $4.26 million in the previous year;
Holding company operating expenses significantly reduced compared to fiscal year 2006; and
Avensys Inc., our main operating subsidiary, records a net profit for the first time in fiscal year 2007.
Fourth Quarter 2007 Highlights:
Revenues were $5.5 million versus $3.4 million in the same quarter a year earlier;
Operating loss, after impact of investment tax credit was $0.16 million compared to an operating loss of $2.1 million; and
Net cash generated from Operating Activities was $0.36 million compared to net cash used of $1.44 million in the same quarter of fiscal year 2006.
President and Chief Executive Officer John Fraser of Manaris Corp said, “In the twelve months ended June 30, 2007, Manaris made further progress in sharpening our strategic focus. We improved the financial health of the Company as we nearly doubled our revenues. Our operating loss decreased significantly and our net working capital position was positive at year end. In our final quarter of the year ended June 30, 2007, we generated record quarterly revenue of $5.5 million.”
Segment Breakdown
Avensys Inc. generated net income in excess of $1.5 million during fiscal year 2007. Revenues increased by 62.8% as compared to the same period a year ago. During the year, several new products, which had been under development at ITF Optical, reached a marketable stage and were transferred from R&D to production at the Avensys Tech division. Avensys Tech officially launched its 2+1 combiners in February 2007 with sales in the first five months exceeding 650 units. Avensys Tech also witnessed success with its DPSK demodulator modules. Avensys Solutions continued to grow at a rate of approximately 10%, well ahead of accepted growth figures for this marketplace of about 3%. During the year, Avensys Solutions renewed several contracts with key suppliers including ISCO and IDEXX. In addition, Avensys Solutions also signed new exclusive distribution agreements in Canada with four leading equipment manufacturers.
The Company took steps to ensure profitability for its C-Chip Technologies (North America) business. By strengthening the relationship with its technology partner, i-Metrik, and leveraging its expertise and market presence, Manaris was able to eliminate costs and generate profits from royalties. The launch of the new GSM-based Credit Chip 200G provided a competitive alternative which resulted in increased sales and steady royalty revenues which were used to repay C-Chip’s loan. C-Chip reported a profit of $56,000 during fiscal year 2007. C-Chip recorded royalties’ income for the three and twelve month periods ended June 30, 2007 were $139,262 and $355,928, respectively.
Subsequent to the fiscal year ended June 30, 2007, the Company focused on reducing the dilutive impact of past financings on its shareholders and establishing the platform for continued and sustainable growth. During the first quarter of fiscal 2008, Manaris redeemed the Series B Notes and Series B OID Notes (“Notes”) issued in August 2006. The Company also redeemed a significant portion of the warrants attached to these Notes. In order to accomplish this redemption, on September 24, 2007, the Company entered into a Securities Purchase and Loan Agreement (“SPL Agreement”) with Imperium for the sale of a 6% Original Issue Discount Senior Secured Convertible Note (“Convertible Note”) in the amount of $4,708,900. The principal value and the gross proceeds of the Convertible Note is $4,000,000. The Convertible Note matures on September 24, 2012 and the original principal amount is convertible into common shares of the Company at a conversion price of $0.11 per share. The principal value will accrete to the value of the Convertible Note over a two year period and will subsequently accrue interest at 6%. Monthly installments of principal and interest will be payable commencing after the second year up to the maturity date.
The SPL Agreement also provides the holder of the Convertible Note with a Warrant to purchase up to 20,276,190 shares of the Company’s outstanding common stock on a fully diluted basis. On August 22, 2007, the Company issued to the holder of the Convertible Note a Warrant to purchase up to 5% of the Company’s outstanding common stock on a fully diluted basis. In addition, the SPL Agreement provides the Company with a $2,500,000 Working Capital Facility which will enable the Company to meet any immediate working capital requirements and fund future growth.
Mr. Fraser concluded, “We continue to improve our manufacturing process and streamline costs. The positive results from Avensys confirm the validity of our strategic decision to use Avensys as a primary vehicle for future growth. Our objective is to continue to grow revenues and execute on the business strategy we have outlined.”
In conjunction with the earnings release, Manaris Corp will host a conference call with John Fraser, President and CEO, and Tony Giuliano, Chief Financial Officer. The call will take place, Thursday, September 27, 2007 at 11:00am ET and will be simultaneously broadcast live over the Internet at www.manariscorp.com or www.vcall.com. Please allow extra time prior to the call to visit the site and download the streaming media software required to listen to the Internet broadcast. The online archive of the broadcast will be available within one hour of the live call.
Those who would like to participate on the conference call should dial +1-877-407-8033 (US and Canada) and +1-201-689-8033 (International).
A replay of the call will be available on the Company’s Web site or by dialing +1-877-660-6853 (US and Canada) and +1-201-612-7415 (International). When prompted please enter access code, 286 and conference ID 256704. The replay will be available for two weeks following the event.
About Manaris Corporation
Manaris operates two wholly-owned subsidiaries. Our Avensys subsidiary, through its manufacturing division Avensys Technologies, designs, manufactures, distributes, and markets high reliability optical components and modules as well as FBGs for the telecom market and high power devices and sub-assemblies for the industrial market. Avensys is also a pioneer in the development of packaged fiber-based sensors and possesses leading edge intellectual property. Avensys Solutions, is an industry leader in providing environmental monitoring solutions for air, water and soil, as well as geostructure in the Canadian. Our other subsidiary, C-Chip Technologies Corporation (North America) licensed its technology to its technology partner iMetrik Inc, whereby, C-Chip will receive royalties from iMetrik for its worldwide sales of GSM-based “locate and disable” products into the “Buy Here Pay Here” (BHPH) used car market
Forward-Looking Statements:
Except for historical information contained herein, the statements in this news release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause a company's actual results, performance and achievement in the future to differ materially from forecasted results, performance, and achievement. These risks and uncertainties are described in the Company's periodic filings with the Securities and Exchange Commission. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company's plans or expectations.
For more information, please contact:
Trúc Nguyen, Deputy Managing Director
The Global Consulting Group
T: +1-646-284-9418
E: tnguyen@hfgcg.com
______________________________________________________________________
This email has been scanned by the MessageLabs Email Security System.
For more information please visit http://www.messagelabs.com/email
______________________________________________________________________
I do not agree . This is a very constructive board and Pwood has a positive critical mind which should be tolerated. Sometimes he his very right.
Otherwise this becomes a boyscouts club that only sees things at the bright side.
I am very positive about this stock , read all the stuff , but need also a reminder that there is a backside on the story so that i stop buying unless I see something moving in the figures .
MANARIS CORPORATION SETS DATE TO DISCUSS RESULTS FOR THE FOURTH QUARTER AND FISCAL YEAR ENDED JUNE 30, 2007
Montreal – September 26, 2007 – Manaris Corporation (OTCBB: MANS, Frankfurt WKN: A0F5LD), the publicly-traded holding company of Avensys Inc, a leading manufacturer and distributor of fiber optic components and integrator of instrumentation and turn-key systems for environmental monitoring, will announce results for the Fourth Quarter and Fiscal Year ended June 30, 2007 on Thursday, September 27, 2007 prior to the open of the market.
In conjunction with the earnings release, Manaris Corp will host a conference call with John Fraser, president and CEO, and Tony Giuliano, chief financial officer. The call will take place tomorrow, Thursday, September 27, 2007 at 11:00am ET and will be simultaneously broadcast live over the Internet at www.manariscorp.com or www.vcall.com. Please allow extra time prior to the call to visit the site and download the streaming media software required to listen to the Internet broadcast. The online archive of the broadcast will be available within one hour of the live call.
Those who would like to participate on the conference call should dial 877-407-8033 (US and Canada) and 201-689-8033 (International).
A replay of the call will be available on the Company’s Web site or by dialing 877-660-6853 (US and Canada) and 201-612-7415 (International). When prompted please enter access code, 286 and conference ID 256704. The replay will be available for two weeks following the event.
Hi Walter,
Although we don’t provide “buy” or “sell” recommendations, here are some key highlights that may be helpful in your discussion. First, TXP’s ability to provide professional design support capabilities and quick-turn assemblies has enabled its customers to reduce their time to market which, in turn, gives these customers a competitive edge in an industry known for rapid product development. TXP increased its total customer served base from 89 as of the second quarter of 2006 to over 117 leading electronics and telecommunications companies as of the second quarter of 2007, which we believe is evidence of the acceptance and reputation they are building in the marketplace.
Additionally, one of the great challenges in the telecom industry is to affordably develop and deploy technology that terminates the Passive Optical Network (PON) at the home or business location, thereby reducing the infrastructure costs for 'fiber-to-the-home'--based services. TXP’s strategy is to become a leading ODM, by private labeling its Broadband Passive Optical Network (BPON) and GPON ONTs for both OEMs and Incumbent Local Exchange Carriers (ILECs). We believe this is well timed with the accelerating roll-out of new 'fiber-to-the-home' networks needed to deliver high-speed 'triple-play' services.
Here are some further highlights from the second quarter:
§ Revenue increase of 70% in the three months ended June 30, 2007 compared to the three months ended June 30, 2006;
§ Signed re-seller agreements with two leading Original Equipment Manufacturers (OEMs) of telecommunications infrastructure for distribution of TXP’s Optical Network Terminal (ONT) units;
§ Signed distribution agreement with Eastern Telecommunications to sell ONT products and outside plant cabinet retrofit solutions;
§ Launched 7200G family of mini-size Power-over-Ethernet (PoE) based Gigabit Passive Optical Network (GPON) ONTs;
§ Completed detailed triple play interoperability testing with 10 leading Optical Line Terminal (OLT) equipment vendors;
§ Obtained ISO 9001:2000 certification for TXP-Texas Prototypes and TXP-Retrofit Solutions groups.
Let me know if there is anything else we may be able to assist you with.
Regards,
David
I used part of your reply to me on txpo on the Manaris board (Mans) as it perfectly expresses my opinion both on the evolution of the shares of TXPO as well as Mans
Keep up the good work
Although it may be a bit frustrating to us shareholders who don't have much visibility about how things are progressing, the company's attitude is that the shareprice is of minor concern right now. They seem quite certain that the shareprice will take care of itself. The impetus for shareprice increases will come Q over Q as we see the company's revenues/margins improving and also when specific announcements are made.
I stole this text from TXPO on another board but I think it is equally applicable on Manaris.
I hope we will know more next week when the figures come out
there is simply no trade in this share the last couple of days. and I believe that makes the spread that big.Nobody wants to buy as the investors that know this stock are fully invested or want some news from the company and nobody wants to sell at that price.as existing shareholders know the potential,
if you can choose Steve which one do you prefer for next week?
TXPO 100 %up
or
Nice weather on the beach?
Dear Walter
While the company is working very hard to improve its stock price
performance, it does not comment on stock movements as this is something
that it can not control.
The answer on my question whethet they were aware of manipulation of the shareprice
I am not sure if the shareprice will move if they meet the targets. I have the impression that in generally the market will be shaky for the next month ,and that does not help yhe small companies but,if they ever meet the target in 3 years time of 100 million turnover i would gess this shareprice will be a lot higher than 1 usd
1) because it is the otcb and investors on this exchange are taking more than average risk. The average shareholder will never invest in companies on this exchange as it proves not to be reliable .
2) for the same reason probably that TXPO could not find an other source of finance than cornell which in my opinion is the last resource you would go to.
3) Financial figures are not strong yet so far and in actual terms the value is zero if you do not consider the expectation value which still has to be translated into positive cashflows
4) The products are very technical and the average investor does not have a clue of what prototypes retofit,ONT ,Gpon ,Bpon, FTTP etc... means.
execution to me means high turnover , grossmargin and positive cashflow , Not only new products
You can develop new producst in aeternam (latin) but unless they get sold and generate income we will not see another exchange and new investors,
The same applies for the few other otcb stocks that I follow, The shareprice gets in all directions and nobody understands why the big investors do not see the real value.
This is not improving with the bad economic clouds that hang over the economy in US and the dollar and the subprime mess and Bernanke is not going to solve this by lowering interest rates.
Investors will be more and more cautious and only invest in proven quality.
So there is quite a job for M Shores
I fully agree with your analysis jmack
let us not fool ourselves Steve, TXPO is a company with incredible potential (that is why i bought so many shares) but the connection with Cornell was and is posibbly still a negative,
As I already mentionned before some year ago I made a quick scan on the technical charts of the companies which appear on the loanportfolio of Cornell and apart from some exceptions ,these charts looked horrible. I would be surprised if it would be different now.
Hopefully TXPO will be one of these exceptions . I of course like to believe that in the end also Cornell has interest to see a higher valuation of the shares.
At the end If they get more and more shares of a company that goes bankrupt I do not see the advantage.
But every company that I follow that has the connection has the same pattern.
If I were Cornell and thougt these comments were unfair , I would step up and make an official comment. But most of the time ,Cornell is not open for critical questions(They were not when I phoned them at that time about these charts)
To be honoust, their products do not ring a bell to me, but who cares if they have over 100 millions in sales in 3 years time
DPSK Demodulator - Differential Phase Shift Keying
- Terrestrial long haul application
- Also know as “delay line interferometer”
- Regenerate signal
IFAM - Integrated Fiber Amplifier Module
- Terrestrial long haul application
- Amplifies light
BRAGG - Terrestrial and Undersea
- Stabilize output of lasers
- filter out wavelengths in a WDM system
- Gain flattening Filter
COMBINERS - Industrial & Commercial
- Uses Multimode Fiber
- Couples Powers into single high power output source
- Used to pump fiber lasers
COUPLERS AND - Terrestrial and Undersea
SPLITTERS - divides, routes or combines optical
signals
Hereunder some answers to some questions which I raised some time ago. The answer on the possible share manipulation is not yet adressed.
Hi Walter
I have received answers to your questions. Please see below.
I am away travelling and will check if there were any others outstanding when I get back. I just thought I would get this too you as soon as I can.
Best
David
1) What is the breakdown of the major shareholders of Manaris? i.e the top 5 holders.
The only major shareholder is Imperium Partners.
2) "The Company has incurred significant losses since inception and has relied on non-operational sources of financing to fund operations, and, as at March 31, 2007, had not respected a certain loan covenant."
This was referring to two ratios with respect to Avensys’ bank line of credit, which as of June 30, 2007, as a result of continued good results, are now being met and this will be deleted from the June 30, 2007 10K.
3) What are the particular products that are driving the bulk of Avensys' revenue?
See attached main product listing.
4) "the persons who shall be eligible to receive Grants shall be employees, consultants and advisers who provide services to the Company in connection with, among other things, the Company’s obligations as a publicly-held reporting company. The term consultant shall mean any person who is engaged by the Company to render services and is compensated for such services." How much of the outstanding shares is attributable to employee options and how much is a result of grants to service providers?
It would be very time consuming to work out the amount of outstanding shares attributable to employee options and grants to service providers. What we can tell you is that it would likely be a small percentage. In addition, in 2007 only one service provider received stock options.
It looks as I am the only one buying at this proce(0.31usd).
Where are all the believers?? Is it still Cornell that is bothering them?
I hope txpo does not follow the same direction.
If only the contributions on this board were PR's from the company I would make a fortune.
The only Foxconn I can find is a PK company?
I fully agree with the ONT figures that you forecast. It is either 100 million or a waste of time for us as forumreaders.)
(If what I read here on the forum only half is true)
If they will not have 100 millios sales in a few years , their competitors will have??
sorry folks . This is my last comment on this ,but Jmack you should read the last investorsupdate conference call from Carlson on Tren.
I am impressed
and now back to TXPO .
I like this article and I hope that Manaris can be one of the potential moneymakers for me (see conclusion)
http://money.cnn.com/2007/09/06/pf/zweig_september.moneymag/
http://money.cnn.com/2007/09/06/pf/zweig_september.moneymag/
I like this article about how many stocks you should own. Especially the conclusion. I hope that TXPO amongst a few others(mans, tren) will be my moneymakers
I have forwarded the question to the company
I do not know where we can find the answer.
The company is not very helpful in answering these type ofquestions.But I see your point.
Somebody could be interested in keeping the price of the shares low so that he can do a take-over bid of all the shares at a low price.Or even take all the shares from the market???
Can somebody explain me Foxconn?
somebody bought 400 shares and gave me a feeling I was becoming much richer.
Is this not ridiculous.?
Please M Shores,get out of otcb sooner than later
somebody wants to buy one share at 0,32 usd to keep me happy?
Everything which has to do with CD,warrants and options granted makes lifes miserable for shareholders and shareprices not transparent.
Therefore ,get away with these things asap.
The average investor hates these things and Cornell.
excellent analysis . I would however assume with the customerbase that they have and the potential of the ONT business as I read on this forum , a sales explosion could evolve , or am I too optimistic.
i think business at this stage are not valued at P/E but at a multiple of sales until they are cashflow positive. We shoulf find out what the average multiple is in this type of bisiness. At this time the multiple is close to 4 for TXPO based on previous year figures.
Is it also not so that former Siemens personell are R&D and not production related so they are a fixed cost and not a variable,? So once these costs are absorbed by the margins ,the net added value of each product sold increases considerably So ,if this is a volume type of business the net income could increase rapidly.
(I thought TXPO is outsourcing the production of this onts? Or am I wrong ?)
If a fraction of what is written here comes true , in a number of years sales should be several hundreds of millions .
It all depends how this ONT business develops
If sales climb to 100 million usd shareprice could easily go to usd 4 imo.
How do you translate a bagger? I see this word several times on thesae boards and I do not understand the exact meaning. Do you mean usd?
ok , but is that good news for TXPO too?
It is so frustrating to see these price movements south for a company that is already strongly undervalued. They will never get my shares for that price unless I find out that john Frazer does not keep his promises ,. But I believe he will. Think about a turnover of 100 millions in 3 years time and a multiple of 4. makes a marketcapitalization of 400 millions (and you know rhat the industry seems to have amultiple of 10??) look at the market capitalization now??
If you believe in justice??
PS You know that txpo has a multiple of 4 already and they are not yet cahflow positive and have not yet found the 1 million.
In this report they establish a price target of 0,25 usd per share for Manaris based on target sales of 2007/2008.They use a multiple of sales of 1, whereas in the industry the multiple is 10 and for Manaris it was historically 4. So if you know that Frazer considers a growth of 85 % per year and given the fact that a multiple of 4 is more realistic i do not want to dream about what the shareprice could be if Frazer keeps his promises.
http://www.taglichbrother s.com/equityuniverse/comp anies/manaris/manaris-080 12007.pdf
I do not know whether you can click on this but you can findthe info on Yahoo finance if you cannot open it
thanks Jmack. I believe we will know a lot more in a few weeks when the filing of the 10Q is out.
With a little help fr5om a friend and from the PR firm
As stated in the Company's press release dated July 30, 2007, Manaris
redeemed the majority of the Notes and half the Warrants. The remaining
half of the Warrants remain with the holders of the Notes and have an
exercise price of $0.11 per share. While Manaris is pleased that the
redemption will serve to remove the extremely dilutive effect that the
outstanding Notes have had on Manaris' and its shareholders, as you
know, we cannot comment as to the effect of this redemption and the
outstanding warrants on the share price.
In addition, in response to your second query sent to Truc, Manaris felt
it was the right time to redeem some of the outstanding Notes and
Warrants.
However, we can confirm that the total Series Y and Z warrants went from
3,734,258 to 2,604,667 as a result of the redemption.
Best,
Dave
if we learn from the past we will probably never buy pennystocks again LOL