Don't know if any of you saw this report on Raging Bull about HYTT but here it is.. Once this gets going I think it is really going to be a great stock. Anyway, check this out....
52-Week Range
High $ 2.52 Low .022
Common Shares 200,000,000
Preferred Shares 32,000,000
Shares Outstanding
Common Shares 68,949,073
Preferred Shares- none
Float 43,600,000 est.
Market Capitalization $ 4,412,741
Daily Volume (3 mo.) 2,096,479
Hy-Tech Technology Group, Inc. (otcbb: HYTT), headquartered in Fort Myers, Florida, is currently undergoing a significant transformation. This transformation is why the privately-held, regional reseller/custom systems builder went public this year in the first place. A public company as of February 2003 via a reverse merger into SRM Networks, the 11-year-old company had previously established a strong presence in the Southeast region. Their focus to date had been as a custom systems builder and as
an authorized distributor of the world's leading computer components and peripherals.
Hy-Tech experienced quick and steady growth over the last decade of the 20th century, reaching annual net revenues of over $31 million. Key to Hy-Tech’s impressive revenues are its 11 city distribution centers. Each store location stocks a full line of computer components and peripherals, and each has technicians capable of building and servicing systems that range in scope from basic desktop systems, to premium gaming systems, through to sophisticated server applications.
The mission of the now publicly-held Hy-Tech Technology Group is to become a fast growth, international provider of technology based solutions, which include a mix of proprietary and industry standard software and hardware coupled with high quality specialized services and consulting. Management will expand the company’s geographic presence, introduce new product and service solutions, gain new channels for distribution, and accelerate the Company’s growth through mergers and acquisitions.
In fact over a dozen acquisitions are currently under consideration and detailed letters of intent are under negotiation. Acquisition and joint venture candidates will only be considered if they are or can be profitable at closing, and will be financed for growth by a combination of common stock, cash, and notes. In addition to growth through acquisition, Hy-Tech has eliminated detrimental convertible debenture financing previously attained, and is fueling its anticipated rapid growth by arranging what would be referred
to as friendly financing for the Company’s future.
Business Summary – “The Transformationâ€
The Company currently targets two substantial market segments:
VALUE ADDED RESELLERS THAT SERVE SMALL LOCAL BUSINESSES, and
IT DEPARTMENTS OF LOCAL MID-SIZED BUSINESSES, GOVERNMENT AGENCIES AND EDUCATIONAL INSTITUTIONS.
Hy-Tech has developed superb relationships over the years with top companies in the computer industry. Therefore, as part of their trasnformation process, their goal is to stay abreast of all new technologies and resulting products, to be able to secure–in a timely manner–the necessary new products to be competitive in the ever changing computer industry. Hy-Tech’s aggressive focus on achieving sales growth and improved profitability has propelled the Company to align itself with several technology leaders, as well as tap into the growing, high-demand markets of data forensics, desktop and network security.
With the exception of historical information, this document may include forward-looking statements that involve a number of risks and uncertainties. Actual results could differ materially from those anticipated as a result of various risks. There are numerous factors that could contribute to such differences, therefore such projected events and anticipated results are not warranties or guaranties that such events will occur or that the Company will achieve such results. For more information about this corporation and risks involved in the investment of their publicly traded shares, please see
the company’s website(s), and/or documents filed with the SEC, which are easily accessible in the EDGAR database system.
Targeted Market Segments
Investment Highlights
FINANCIAL IMPROVEMENTS UNDERWAY INCLUDE A $4M REDUCTION IN BANK DEBT AND REMAINING DEBT/EQUITY CONVERSIONS, INJECTING $1-MILLION OF FUNDING RECENTLY ATTAINED INTERNALLY, AND NEGOTIATING THE BUY-OUT OF $400K CONVERTIBLE.
THESE FINANCIAL IMPROVEMENTS WILL IMMEDIATELY INCREASE CASH FLOW, HELP TO INCREASE SALES AND POSITION THE COMPANY TO INCREASE THEIR MARKET CAP OVER THE NEXT TWO YEARS FROM AROUND $4MM TO $40MM LOW/$180MM HIGH
otcbb: HYTT
Hy-Tech Technology Group, Inc.
1840 Boy Scout Drive
Fort Myers, FL 33907
www.e-hytech.com
Martin Nielson, CHAIRMAN & CEO
ph. 239-278-4111
fax 239-278-4691
email mnielson@e-hytech.com
Management Team
Martin Nielson, CHAIRMAN & CEO
Marty Nielson, Chairman & CEO of Hy-Tech, brings tremendous experience to the Company with a career that spans 30 plus years and includes numerous chief executive officer and executive level positions with both public and private companies. Marty has been part of nearly a dozen start-ups, five of which went public (on the NYSE, NASDAQ, OTCBB, and London exchanges), and of those four that became billion dollar companies. Notable among those are The Gap, Businessland, and Corporate Express.
He has the personal experience of more than 100 mergers and acquisitions, and he is responsible for millions raised in venture capital. In addition to his professional resume,
Marty has been a guest lecturer at industry conferences, he is the author of several industry columns, he serves on the executive board of the local BSA council, and he has
been honored with listings in various executive publications around the world. Marty is a graduate of San Jose State University, and he has also studied at San Francisco State University's graduate school of business, with concentration on operations research.
Gary McNear, CFO, BOARD OF DIRECTORS & CO-FOUNDER
Gary McNear is one of the founders of Hy-Tech.
He built the Company from scratch with help from his partner Craig Conklin.
Gary’s background prior to his entrepreneurial
calling was as an officer and pilot in the U.S. Air Force, and as a commercial airline pilot.
Gary has a BS in Industrial Administration from Iowa State University.
Craig Conklin, COO, BOARD OF DIRECTORS & CO-FOUNDER
Craig Conklin is the other half of the founding partners that created Hy-Tech. Prior to Hy-Tech, Craig worked for Owens-Corning Fiberglas, Inc. Craig holds a B.S. in Engineering from Dartmouth College, and he has an MBA from The Amos Tuck School of Business.
Rod Simon, BOARD OF DIRECTORS (INEX)
Francisco Parra, BOARD OF DIRECTORS (INEX)
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Outstanding Shares: 68.9 mm
Estimated Float: 43.6 mm
52 week high: 2.52
52 week low: .022
Average Volume (3-mo.) 1,636,370
Selected Financial Data
3 months ended
Aug. 31, 2003
3 months ended
May 31, 2003
12 months ended
Feb. 28, 2003
TOTAL ASSETS $ 2,118,759 $ 3,356,439 $ 4,329,947
TOTAL CURRENT LIABILITIES $ 2,906,747 $ 5,020,406 $ 7,319,306
NET REVENUES $ 3,354,614 $ 3,996,330 $ 23,954,115
COST OF REVENUES $ 2,838,396 $ 3,602,353 $ 20,841,744
GENL., ADMIN. & SELLING EXPENSES $ 1,013,545 $ 1,371,970 $ 4,551,570
NET INCOME (LOSS) $ (623,072) $ 664,258 $ (1,661,617)
Added company info:
HY-TECH WEB SITE (currently under constuction)10/16/03
http://www.e-hytech.com/
COMPANY FILINGS
http://www.nasdaq.com/asp/quotes_sec.asp?mode=&kind=&symbol=CGPN&symbol=FXGP&symbol=...
ALTOSBANCORP(Martin Nielson CEO)
http://www.altosbancorp.com/mainframe.html
IR FIRM
http://www.equitilinkpr.com/
WECOMM $700,000 INVESTMENT
http://www.wecomm.com/
STRATEGIC PARTNER
http://www.inexview.com/
Readers Caution: This writer/owner is not a licensed investment advisor or analyst nor does he give out buy or sell advice to anyone. No analysis has been made by this writer about the financial condition of any business contained within this site or other factors about the Companies which may appear in the reviews or articles contained herein. The information contained herein is based upon sources I consider reliable but is not guaranteed. Any sales and or earnings forecasts included herein were obtained by and/or from audited financials and/or news releases and unless otherwise stated are not endorsed by the writer. The writer, therefore, makes no guarantee as to the reliability of such information. The reviews or articles are not a solicitation to purchase or hold or dispose of stock securities of a Company reviewed. Readers should consult with their attorney or own independent tax, business and licensed financial advisors with respect to any investment opportunity, including any contemplated investment in the Company(s) that are written about. All information concerning a Company herein and contained in a review or article or any part of this web site should be verified independently by an attorney, with such company and an independent licensed securities analyst.
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