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LRNS is another low float Harry Potter play. Starting to get attention now.
EBTB News of results
Wednesday November 14, 4:15 pm Eastern Time
Press Release
SOURCE: eB2B Commerce, Inc.
eB2B Commerce Reports 3rd Quarter Results
Transaction volume up 47%; On track for cash flow breakeven in December 2001
NEW YORK, Nov. 14, 2001 (PRIMEZONE) -- eB2B Commerce, Inc. (Nasdaq:EBTB - news), a leader in business-to-business transaction services, announced today its third quarter and nine-month 2001 results, posting a 36% gain in revenues for the nine-month period ended September 30, 2001 over the same period last year. eB2B's third quarter revenue for the period ended September 30, 2001 was partially impacted by the September 11th terrorist attack on New York City, decreasing $212,000 from the same period in the 2000 calendar year.
eB2B Commerce recorded revenues of $1,501,000 for the third quarter of 2001, a decrease of 12% compared to revenues of $1,713,000 in the third quarter of 2000. For the first nine months of 2001, revenues were $5,044,000, an increase of 36% compared to revenues of $3,718,000 for the period ending September 30, 2000.
``We continue to execute our plan to grow our transaction business,'' said Richard Cohan, CEO of eB2B Commerce. ``Our transaction volume grew by 47% over last year, from 425,000 in the third quarter of 2000 to over 625,000 in this year's third quarter, and representing over $80 million in purchasing volume. We've added over 300 new suppliers, 20% more than last quarter, which brings us to over 550 the number of suppliers registered in the last six months. The Company was named today to the Deloitte & Touche Technology Fast 500, ranking 429th on their list of the fastest growing technology companies in North America.''
The Company has also signed a non-binding Letter of Intent to acquire another business-to-business e-commerce company which is projected to close before the end of the year. ``We are very excited about the synergistic combination which will be immediately accretive to our earnings and generate positive cash flow. Also, this transaction will bring us a profitable revenue stream, proven and talented sales and operating personnel and a complementary customer base to leverage,'' added Cohan.
``We are also seeing significantly improved EBITDA results, based on our revenue run rate and execution of the restructuring program we began in the second quarter to reduce costs,'' he said. The Company expects to achieve its plan to be cash flow breakeven in December 2001 and cash flow positive throughout 2002.
eB2B's transaction processing and related services reportable segment generated revenues of $3,193,000 for the first nine months of 2001, an increase of 58% compared to $2,015,000 in the first nine months of 2000. For the three months ended September 30, 2001, the Company reported revenues of $950,000 in this segment, the same as the corresponding period in 2000. Quarterly revenue for the transaction processing business reflects a decrease in the Company's professional services and consulting components and the discontinuance of non-profitable lines of related business per the Company's restructuring, announced in the previous quarter.
As a result of the Company's strategic review of its operations, and pursuant to its restructuring announced in the second quarter, management initiated additional actions resulting in restructuring charges related to severance and a contract termination with its web-hosting provider of $313,000 in the three month period ended September 30, 2001.
The Company reported a loss before interest, taxes, depreciation and amortization (EBITDA) for the three months ended September 30, 2001 of $1,579,000. Excluding restructuring costs, the Company's EBITDA loss would have been $1,266,000 in the quarter, a $2,494,000 or 66% improvement compared to the $3,760,000 EBITDA loss reported in the quarter ended September 30, 2000. For the nine months ended September 30, 2001 the Company reported an EBITDA loss of $8,566,000 compared to $10,717,000 reported for the nine months ended September 30, 2000.
In accordance with SFAS No. 121 and the Company's stated accounting policy, the Company assessed the recoverability of goodwill and other intangibles recognized in the acquisitions of Netlan Enterprises, Inc. and DynamicWeb Enterprises, Inc. and recorded an impairment charge of $43,375,000. The company reports that its net loss for the third quarter of 2001 was $50,970,000 or $2.51 per share, including the impairment charge, compared with a net loss of $9,178,000 or $.71 per share in the same period in 2000.
About eB2B Commerce
eB2B Commerce is the leading provider of business-to-business transaction management services that simplify trading partner integration, automation, and collaboration across the order management life cycle. The eB2B Trading Network and Transaction Lifecycle Management solutions provide enterprises large and small with a total solution for improving trading partner relationships that enhance productivity and bottom line profitability.
FORWARD LOOKING STATEMENTS - Certain statements contained in this news release which are not based on historical facts are forward-looking statements, as the term is defined in the Private Securities Litigation Reform Act of 1995, and are subject to uncertainties and risks that may cause actual results to materially differ from projections. While these statements reflect the Company's current judgment, they are subject to risks and uncertainties. Actual results may differ significantly from projected results due to a number of factors, including, but not limited to, the Company's limited operating history; the Company's ability to raise additional capital, if needed; the soundness of our business strategies relative to the perceived market opportunities; our ability to successfully develop, market, sell and improve our business to business transaction services to retailers, suppliers, buyers or sellers; our ability to compete effectively on price and support services; the risks associated with rapidly changing technologies, such as the internet; and our assessment of our specific vertical industry's need to become technology efficient. These factors and other risk factors are more fully discussed in the Company's filings with the Securities and Exchange Commission, which you are strongly urged to read. eB2B expressly disclaims any intent or obligation to update any forward-looking statements. When used in this Report, the words ``believes,'' ``estimated,'' ``estimates,'' ``expects,'' ``expected,'' ``anticipates,'' ``may'' and similar expressions are intended to identify forward-looking statements.
eB2B Commerce, Inc.
Financial Summary
Three and Nine Months Ended September 30, 2001
(Unaudited)
Three Months Ended Nine Months Ended
09/30/01 09/30/00 09/30/01 09/30/00
Revenue $ 1,501,000 $ 1,713,000 $ 5,044,000 $ 3,718,000
Loss from
Opera-
tions(a) (49,443,000) (9,338,000) (66,143,000) (34,534,000)
EBITDA(b) (1,579,000) (3,760,000) (8,566,000) (10,717,000)
Net Loss(a) (50,970,000) (9,178,000) (69,180,000) (33,809,000)
Net loss
per
common
share $ (2.51) $ (.71) $ (3.90) $ (3.18)
Weighted
average
number of
common
shares
outstanding 20,342,288 13,004,153 17,728,796 10,629,495
(a) Includes Impairment charge to goodwill of $43,375,000 in 2001.
(b) EBITDA is defined as net loss adjusted to exclude: (1)
depreciation and amortization, (2) stock related compensation,
(3) interest, net, and (4) impairment of goodwill and other
intangibles.
--------------------------------------------------------------------------------
CONTACT: eB2B Commerce, Inc., New York
Peter J. Fiorillo
212-703-2000
SOURCE: eB2B Commerce, Inc.
Email this story - Most-emailed articles - Most-viewed articles
--------------------------------------------------------------------------------
More Quotes and News: eB2B Commerce Inc (NasdaqSC:EBTB - news)
Related News Categories: computers
EBTB getting buys, .19 x .21
Looks good to me. Lets see how the market reacts. You never know!
EBTB 10Q is out.
YORK bouncing now on low volume. Was well over $1 last week. Now .57
re Anthrax in NYC
http://www.msnbc.com/news/638169.asp
Holy sht! At this point I dont think they would tell us if it was terrorist related. I just read there were only 18 cases of inhaled anthrax during the 20th century. Its a little too coincidental that a case would pop up at this time.
Nice call on ANCX, now .91 x .99. Picked some up as well.
Here's a Nasdaq'er with News
Motient to Reduce Cost Structure And To Enter Renegotiations Regarding Senior No
/FROM PR NEWSWIRE WASHINGTON DC 202-347-5155/
TO BUSINESS AND TECHNOLOGY EDITORS:
Motient to Reduce Cost Structure And
To Enter Renegotiations Regarding Senior Notes
Mutual Agreement to Terminate Rare Medium Merger
RESTON, Va., Oct. 1 /PRNewswire/ -- In light of current economic
conditions, Motient Corporation (Nasdaq: MTNT), announced today cost reduction
actions aimed at maintaining targeted profitability goals and reducing funding
requirements. Central to this action was a reduction in force at both its
Reston VA and Lincolnshire IL locations that is expected to result in a 25
percent decrease in staff. These reductions were broad-based but coordinated
to maintain the high level of network performance and customer care that are
characteristic of Motient's offerings.
"Our continuing focus is to achieve break-even operating cash flow by mid-
2002," said Walter V. Purnell, Jr., President and CEO of Motient. "Even
though our core business revenue and subscriber base have continued to rise
throughout these difficult economic times, we needed to take all prudent
actions necessary to ensure our success in achieving this goal."
Additionally, the company announced that it will not fund the $20.5
million interest coupon payment on its 12.25% Senior Notes due October 1,
2001. The company is currently in the process of retaining a financial
advisor to assist in connection with a possible restructuring of the Senior
Notes.
"We are confident that with a reduced cost structure and a restructured
balance sheet, this company will be in a better position to fully leverage its
high-capacity network advantage in the wireless data market," said Bart Snell,
Senior Vice President and CFO of Motient. "More than ever, our eLink(SM) and
BlackBerry(TM) by Motient services are proving their value to American
businesses, and we owe it to our shareholders, bondholders and more than
250,000 subscribers to unlock the value in our network."
In a related event, Motient reported today that the Boards of Directors of
both Motient and Rare Medium (Nasdaq: RRRR) have mutually agreed to terminate
their pending merger. In concert with this, the $50 million Rare Medium loan
to Motient has been extended to October 8, 2001. Additionally, Motient no
longer plans to pursue a 1-for-10 reverse split of the company's outstanding
common stock.
About Motient Corporation
Motient (http://www.motient.com ) owns and operates an integrated
terrestrial/satellite network and provides a wide range of two-way mobile and
Internet communications services principally to business-to-business customers
and enterprises. The company provides eLink(SM) and BlackBerry(TM) by Motient
two-way wireless email service to customers accessing email through corporate
servers, Internet Service Provider (ISP) and Mail Service Provider (MSP)
accounts, and paging network suppliers. Motient serves a variety of markets
including mobile professionals, telemetry, transportation, field service, and
nationwide voice dispatch offering coverage to all 50 states, Puerto Rico, the
U.S. Virgin Islands, and hundreds of miles of U. S. coastal waters.
eLink is a service mark and Motient is a trademark of Motient Corporation.
The BlackBerry and RIM families of related marks, images and symbols are the
exclusive properties of, and trademarks of Research In Motion Limited and are
used by permission. "BlackBerry by Motient" - used by permission.
This press release contains forward looking statements, including
statements regarding future performance of Motient and its network, Motient's
future operating cash flow, the possible restructuring of Motient's Senior
Notes and Motient's ability to fully leverage its network. Factors that could
cause actual results to differ materially from those in the forward looking
statements in this news release include Motient's serious short-term liquidity
needs, Motient's substantial debt, competition in the wireless industry,
general economic conditions, market acceptance of Motient's products and
services, the reliability and cost of Motient's supply of wireless handheld
devices, and Motient's dependence on a relatively small number of customers.
Many of these and other factors are described in Motient Corporation's
registration statement on Form S-4 filed on June 26, 2001 and in Motient's
annual report on Form 10-K for the year ended December 31, 2000 and its other
periodic filings and reports with the Securities and Exchange Commission.
Copies of such reports and filings are available upon request from Motient
Corporation's Investor Relations Department.
MAKE YOUR OPINION COUNT - Click Here
http://tbutton.prnewswire.com/prn/11690X64889386
SOURCE Motient Corporation
/CONTACT: Eric Swank, Vice President, Corporate Planning and InvestorRelations,
+1-703-758-6121 or eric.swank@motient.com, or Donald L. Campbell,Director,
Corporate Communications, +1-703-758-6280 ordon.campbell@motient.com, both of
Motient Corporation/
/Web site: http://www.motient.com/
Oct-01-2001 13:56 GMT
Symbols:
US;MTNT US;RRRR
Source PRN PR NewsWire
Categories:
NWR/VA NWI/CPR NWI/MLM NWS/TNM MST/R/US/VA MST/I/CPM MST/I/NET
MST/S/MRG
MTNO late filing, could be the reason for the drop?
http://www.nasdaq.com/asp/quotes_sec.asp?symbol=MTNO&selected=MTNO
Glad to hear you're OK Patsy. Hope the little one is better soon.
IVC Industries, Inc. to be Acquired by Inverness Medical Innovations, Inc.
FREEHOLD, N.J.--(BUSINESS WIRE)--Sept. 24, 2001--IVC Industries, Inc. (OTC BB:IVCO.OB) announced today that it is in discussions with Inverness Medical Innovations, Inc. ("Innovations") for Innovations to acquire all of the outstanding stock of IVC.
Innovations is a majority-owned subsidiary of Inverness Medical Technology, Inc. ("Inverness"). Inverness has agreed to be acquired by Johnson & Johnson. As part of the pending acquisition by Johnson & Johnson, Inverness plans to restructure its operations so that its women's health, nutritional supplements and clinical diagnostics businesses are held by Innovations. Innovations will then be split-off from Inverness as a separate, publicly-owned company based in Waltham, Massachusetts.
IVC and Innovations signed a non-binding letter of intent on September 21, 2001, which describes the general terms of Innovations' proposed acquisition of IVC. As contemplated by the letter of intent, each stockholder of IVC would receive from Innovations $2.50 cash for each share of IVC common stock held by such stockholder, except that certain of IVC's principal stockholders will receive either cash, restricted shares of common stock of Innovations or a combination thereof, valued at $2.50 for each share of IVC common stock held by such stockholders.
The acquisition of IVC by Innovations is subject to a number of conditions, including negotiation of a definitive acquisition agreement, approval by Innovations' and IVC's boards of directors, modification of loan agreements with IVC's principal lender, satisfactory due diligence, and completion of the pending split-off of Innovations and merger of Inverness with Johnson & Johnson. The letter of intent is non-binding, and we cannot assure you that IVC will be able to reach a definitive agreement with Innovations, or that even if it does enter into a definitive agreement with Innovations, that Innovations will complete the acquisition of IVC or that it will acquire IVC on the terms described in the letter of intent.
Four stockholders of IVC holding approximately 42% of IVC's outstanding common stock have entered into voting agreements with Innovations. The voting agreements require these stockholders to vote all of the shares of IVC common stock they own in favor of the acquisition of IVC by Innovations and against any competing proposal. The voting agreements expire on January 19, 2002 if IVC and Innovations have not entered into a definitive acquisition agreement by that date.
When used in this press release, the words "believe", "anticipate", "think", "intend", "will", "should" and similar expressions identify forward-looking statements. In addition, other statements that provide more than historical information may be deemed to constitute forward-looking statements. There are important factors that could cause results to differ materially from those anticipated by these forward-looking statements. These factors include risks and uncertainties such as, among other things, beneficial or adverse trends in the domestic market for vitamins and nutritional supplements, the gain or loss of significant customers for the Company's products, the competitive environment in the vitamin and nutritional supplement industry, and the enactment or promulgation of new government legislation or regulation, as well as other risks and uncertainties that may be detailed from time to time in IVC's reports filed with the Securities and Exchange Commission.
This release and prior releases are available on the IVC Industries, Inc. web site at www.ivcinc.com
CONTACT: IVC Industries, Inc., Freehold
Thomas E. Bocchino, 732/625-7111
Other subpennies moving, SRGO & MFLM
US Q2 GDP annual growth revised to 0.2% from 0.7%
Aug. 29 (BridgeNews) - 1241 GMT/0841 ET
.................................................................
TOP STORIES:
US Q2 GDP annual growth revised to 0.2% from 0.7%
Washington, Aug. 29 (BridgeNews) - The U.S. economy's second-quarter
performance was even weaker than previously thought, as gross domestic product
managed a gain at a seasonally adjusted annual rate of just 0.2%, the Commerce
Department reported Wednesday. Expectations had been for GDP growth to be
revised to flat from the preliminary figure of 0.7%.
( Story .4739 )
yep 300 M. I exited today.
New filing for BMII. Might want to take a look. Doesnt look good to me.
http://www.nasdaq.com/asp/quotes_sec.asp?symbol=BMII&selected=BMII
Just got back from lunch, BMII looking good .03 x .031!
BMII looking good, .0275 x .028. Grabbed some this morning @ .023!
VNCI News
Canadian Broadcasting Corporation Chooses VNCI Visual Networks to Streamline Clo
/FROM PR NEWSWIRE BOSTON 617-482-5355/
TO BUSINESS AND TECHNOLOGY EDITORS:
Canadian Broadcasting Corporation Chooses VNCI Visual Networks to Streamline
Closed Captioning Production
PORTSMOUTH, N.H., Aug. 21 /PRNewswire/ -- Video Network Communications,
Inc. (Nasdaq: VNCI, VNCIW), a leader in visual networking solutions, today
announced the purchase of VNCI Video Systems by the Canadian Broadcasting
Corporation (CBC), Canada's official French and English broadcast network. The
initial installation will facilitate closed captioning and translation at the
company's home in Montreal and provide visual connectivity with offices in
Quebec City, Ottawa and Winnipeg.
The local VNCI network will allow specialists in separate offices to
collaborate and review live programming as they produce closed captioned text
and translations "on-the-fly." The programming feeds will be transmitted in
"real-time" from the Quebec City, Ottawa and Winnipeg bureaus/stations across
the VNCI Visual Network.
David Dever, VNCI Director of Sales, Broadcast, noted: "We are very happy
to provide CBC with the power and efficiency our system brings to the
broadcast production process. From collaborative editing at Turner Studios to
signing at the California School for the Deaf, VNCI technology is both
versatile and adaptable to any platform or application. The most compelling
advantage, however, is our ability to distribute 30 frames per second,
full-motion video and FM-stereo audio using the existing infrastructure. This
was also one of CBC's requirements."
About Video Network Communications, Inc.
Video Network Communications designs, develops and markets video
distribution systems that provide full-motion, high-resolution video
networking, enabling video broadcast distribution, retrieval of stored
video-on-demand and interpersonal video communications. The patented
technology allows the VNCI system to use the same wiring as the telephone to
bring TV-quality video anywhere there is a phone line. The Company's ISDN/IP
and Universal (ATM) Gateway solutions extend the system's reach from
enterprise desktops out to the wide-area-networks (WANs). The Company's common
stock, units and warrants are listed on The Nasdaq SmallCap Market under the
symbols "VNCI" and "VNCIW" respectively.
Except for the historical information herein, the matters discussed in
this news release include forward-looking statements that may involve a number
of risks and uncertainties. Actual results and future events may vary
significantly based on a number of factors, including, but not limited to,
risks in product and technology development, market acceptance of new products
and continuing product demand, the impact of competitive products and pricing,
changing economic conditions and other risk factors detailed in the Company's
most recent filings with the Securities and Exchange Commission.
MAKE YOUR OPINION COUNT - Click Here
http://tbutton.prnewswire.com/prn/11690X20162525
SOURCE Video Network Communications, Inc.
/CONTACT: Billie Jo Weiss of Collaborative Communications,+1-617-520-9138, or
bjweiss@collaborative.com; or Kerri Connelly of VideoNetwork Communications,
Inc., +1-603-334-2232, or kerri_connelly@vnci.net; orWilliam A. Walkowiak, CFA,
of Lippert/Heilshorn & Associates, Inc.,+1-212-838-3777, or william@lhai.com/
/Web site: http://www.vnci.net/
Aug-21-2001 13:08 GMT
Symbols:
US;VNCI
Source PRN PR NewsWire
Categories:
NWR/NH NWI/CPR NWI/TVN MST/R/US/NH MST/I/CPM MST/I/MOV
I actually received a call from an ETrade rep last night asking me if I understood this rule. Basically if you buy and sell the same stock within the same day, that is considered daytrading. If you do this 4 times within a 5 day period it is considered a "pattern" daytrader and you must be on a margin account, $25000 limit with buying power up to 4 times that amount. The rep also told me if you buy the stock today and sell tomorrow that is not considered daytrading and is a way around this rule.
Hope this helps anyone unclear of the new rule.
Some volume coming into JNMI, .90 x 1
USXP going crazy on news. Thought about buying @.105. Now .138 x .14 Damn.
Universal Express -USXP- Commences Seizure Steps On $389 Million Judgment
Business Editors
NEW YORK--(BUSINESS WIRE)--Aug. 16, 2001--Universal Express,
Inc.'s (OTC:USXP) General Counsel, Chris Gunderson announced today
that the Company's attorneys have located assets of the defendants and
are proceeding with writs of attachment and garnishment.
"These attachments are initial steps in a series of steps which
will be taken toward enforcement efforts on the $389 million
judgment," stated Mr. Gunderson.
"This initial seizure process is only the `tip of the iceberg'.
Counsel and I believe hidden assets exceed $500,000,000. This first
seizure has occurred faster than expected. Actual amounts and items
will be reported when counsel and due process have been completed,"
continued Mr. Gunderson.
Universal (USXP) operates several other subsidiaries in logistics
(Luggage Express(TM)) and International shipping (WorldPost). Its
association of private postal stores (PBC) provides various support
services and numerous other programs to its members.
Visit Universal Express and its subsidiaries on the web at
http://www.usxp.com
Safe Harbor Statement under the Private Securities Litigation Reform
Act of 1995: The statements contained herein which are not historical
are forward-looking statements that are subject to risks and
uncertainties that could cause actual results to differ materially
from those expressed in the forward-looking statements, including, but
not limited to, certain delays beyond the company's control with
respect to market acceptance of new technologies or products, delays
in testing and evaluation of products, and other risks detailed from
time to time in the Company's filings with the Securities and Exchange
Commission.
--30--mw/ny*
CONTACT: Universal Express, Inc.
Chris Gunderson, 917/639-4154
KEYWORD: NEW YORK
INDUSTRY KEYWORD: TRANSPORTATION
SOURCE: Universal Express
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
URL: http://www.businesswire.com
Aug-16-2001 14:32 GMT
Symbols:
US;USXP
Source BW Business Wire
Categories:
MST/R/US/NY MST/I/TRQ
WWWN, seems like a sell on the news.
ETrade, Bridge News
Good morning everyone! WWWN News...
Worldwide Wireless Networks Announces 2nd Quarter Financial Results And Provides
ORANGE, Calif., Aug. 16 /PRNewswire/ -- Worldwide Wireless Networks Inc.
(OTC Bulletin Board: WWWN), announced financial results for its first fiscal
six months, ended June 30, 2001. The company also detailed its restructuring
and marketing progress.
For the six months ended June 30, 2001, the Company reported revenues of
$1,052,696 compared to $1,674,994 for the first six months of 2000. This
decline in revenue is attributable to on-going restructuring efforts that
resulted in the divestiture of unprofitable customers, a reduced focus on less
profitable equipment sales and an increase in customer attrition as a result
of the downturn in the economy.
The net loss for the second quarter 2001 was $626,976 as compared to a net
loss of $815,615 for the second quarter of 2000. Contributing to the decrease
in the loss as compared to the same period a year ago, was a 50% reduction in
sales and marketing costs as the company refocused it's marketing efforts to
it's core product and a 19% reduction in operational expenses that were
reduced by increasing operating efficiencies.
In another move to reduce costs and increase margins, Worldwide recently
signed an agreement to add another Internet backbone provider that will
function as the primary connection for Worldwide's customers. This new
contract will reduce Worldwide's cost-of-sales for bandwidth expenses by
approximately 60%.
Jerry Collazo, President and Acting CEO provided the following comments on
a number of issues regarding the status and direction of the company:
Current Company Status
"Our company is still challenged on a few fronts but we are fundamentally
stronger than we were last fall. A substantial reduction in our operating
costs resulted in a 61% decrease in operational losses for this past six
months as compared to the same period in 2000. This was accomplished through
a combination of restructuring operations and bringing in higher margin
revenues. Our sales team is continuing progress in bringing in business
accounts that are typically between 384Kbps to 1.5Mbps. Our focus is
expanding to capture higher bandwidth customers to capitalize on our wireless
technology that can deliver speeds up to 155Mbps. Our sales team is also
focused on establishing more alliance/referral partners in order to cost
effectively expand our marketing and sales efforts. Also, we have been very
aggressive in signing up 'e-buildings' which provide one large Internet
connection to a building and split it among multiple tenants. In addition, we
are also targeting large public sector/private sector accounts to leverage our
planning and design capabilities with a range of wireless services that we
have unique experience with.
"Even though the economy is causing us to incur a higher churn rate than
expected due to many of our dot.com and small to mid size customers closing
their doors, our goal of reaching P&L cash flow break-even this year is still
a possibility. Upon cash flow break-even, it will be much easier to attract
expansion capital and revisit markets that we have put on hold, like Los
Angeles. Instead of trying to expand right now, we are leveraging our
existing Orange County infrastructure to bring in additional revenues without
expending additional capital for new network build-outs. By concentrating our
efforts in Orange County we have the added benefit of increasing our existing
market presence and can create a stronger barrier to entry for competitors who
might consider this market. With the dot.com crash the capital markets are no
longer interested in market share at any cost. This is the basis of our
strategy -- to create value by growing profitably and to sustain value by
developing sound fundamentals. In line with this strategy, our focus this
year has been to eliminate revenues that were unprofitable and showed no signs
of ever being profitable. Also eliminated were revenues that were not part of
our core business. In addition, we have been restructuring operations to
eliminate unnecessary expenditures and streamline operations to make them more
cost effective. Finally, when the dust settles, we are a service
organization. Most of our recent efforts have been in developing world-class
capabilities to provide the most reliable and dependable Internet connectivity
service available for businesses of all sizes. And while we are a small
company and have all the restrictions of a small company, we also have all the
strengths of a small company -- fast response time, easier access to decision
makers and more flexibility with regards to internal issues and customer
interface."
Market Environment
"Many Telco companies closing their doors due to flawed business models;
but we have been providing wireless Internet service for four years and have a
profit-based business model that will work. We have seen WinStar, Teligent,
Advanced Radio Telecom and others come into this market and we are now seeing
them fail. This industry and economic storm provides opportunities for us as
well as challenges. The collapse of the independent DSL industry with
Northpointe gone, Rhythms chapter 11, Covad filing chapter 11 and many other
industry woes is providing new business opportunities for us with customers
that are now reluctant to depend on DSL as a primary service. But the DSL
collapse is also providing challenges for us in that many businesses are now
reluctant to accept service from a non-Bell provider. In addition to problems
in the DSL industry, the general economic climate has created opportunities by
inducing prospects from one, two and three years ago to call us to reduce
their T-1 costs. But on the flip side, the economic climate is making it more
difficult for our current customer base to pay their connectivity bills."
Current and Future Projects
"Some of our past projects are performing well and are providing on-going
revenue through service contracts and expansion of services. One project that
has created a lot of interest was a project last fall that we participated in
with Verizon and Marconi: the bid for the County of Orange. Even though
PacBell won the project, the County has been so pleased with our service that
they encouraged PacBell to use us as the wireless solution and Marconi has now
become a wireless customer. We are also continuing our project proposal to
provide connectivity with the City of Ontario. Unfortunately, such large
proposals have long lead times and are subject to competitive bidding in the
open market. The expertise we have developed with the County of Orange is
allowing us to prepare a competitive bid for the City of Ontario as well as
other municipalities."
Volumes, Share Price and Equity Line
"Even though we are reluctant to use our equity line, we are glad that it
is available as some of our other financing options have become very limited
by the tightening of the financial markets. Management is well aware of the
effects of dilution and is limiting the utilization of the equity line solely
to provide cash for current operations. We are actively exploring financing
options to carry us to profitability and we will choose the best available
means to fund the company. Many people are asking where our large trading
volumes and recent share price increase are coming from. Some of the volume
has come from the exercise of our equity line. Some has come from conversions
of our debt instruments, but as stated in a prior release, we cannot speculate
as to where all the activity is coming from. We are actively using a
technology that many believe has a bright future and we appreciate
shareholders looking at us as a long-term opportunity."
About Worldwide Wireless Networks
Worldwide Wireless Networks is a data-centric wireless communications
company headquartered in Orange, California. The Company specializes in
high-speed, broadband Internet access using an owned wireless network. Other
products and services include frame relay, collocation services and network
consulting. The Company serves all sizes of private and public sector
accounts. For more information, visit them on the Web at www.wwwn.com.
The statements made in this release, which are not historical facts,
contain certain forward-looking statements concerning potential developments
affecting the business, prospects, financial condition and other aspects of
the company to which this release pertains. The actual results of the
specific items described in this release, and the company's operations
generally, may differ materially from what is projected in such
forward-looking statements. Although such statements are based upon the best
judgments of management of the company as of the date of this release,
significant deviations in magnitude, timing and other factors may result from
business risks and uncertainties including, without limitation, the company's
dependence on third parties, market conditions, technical factors, the
availability of outside capital and receipt of revenues, and other factors,
many of which are beyond the control of the company. The company disclaims
any obligation to update information contained in any forward-looking
statement.
Contact: Curt Collier, Worldwide Wireless Networks, Inc.
(investor@wwwn.com) 714-937-5500.
MAKE YOUR OPINION COUNT - Click Here
http://tbutton.prnewswire.com/prn/11690X05286837
SOURCE Worldwide Wireless Networks, Inc.
/CONTACT: Curt Collier of Worldwide Wireless Networks, Inc.,+1-714-937-5500,
investor@wwwn.com/
/Web site: http://www.wwwn.com /
Aug-16-2001 13:09 GMT
Symbols:
US;WWWN
Source PRN PR NewsWire
Categories:
NWR/CA NWI/TLS NWI/CPR NWI/MLM NWI/OTC NWS/ERN NWS/RCN MST/R/US/CA
MST/I/TEL MST/I/CPM MST/I/NET MST/I/MKT MST/S/ERN MST/S/FNC
WWWN .086 x .09!!
MTNO News
MTN Holdings, Inc. Announces New Strategic Targeting Of Acquisitions
/FROM PR NEWSWIRE MIAMI 305-461-8666/
TO BUSINESS AND RETAILING EDITORS:
MTN Holdings, Inc. Announces New Strategic Targeting Of Acquisitions
New Management Set To Complete Acquisitions
NEW YORK, Aug. 15 /PRNewswire/ --
MTN Holdings, Inc. (OTC Bulletin Board: MTNO), a Nevada corporation, announced
today that under the new management that has acquired the Company, a new focus
was put in place for the Company in a different direction with a new business
plan.
Mr. M. Spiegel, Chief Executive Officer of MTNO stated, "I am pleased to
be part of the new MTNO management team. Our new business plan is to grow
through mergers and acquisitions, primarily in the metals refining industry.
We will continue to use the holding company business model and build
subsidiary businesses with a goal of increasing our shareholder value."
The press release contains forward-looking statements made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform Act of
1995. Expression of future goals and similar expressions reflecting something
other than historical fact involve risks and uncertainties. The actual
results the Company achieves may differ materially from any forward-looking
statements due to such risks and uncertainties.
MAKE YOUR OPINION COUNT - Click Here
http://tbutton.prnewswire.com/prn/11690X97343110
SOURCE MTN Holdings, Inc.
/CONTACT: M. Speigel, MTN Holdings, 212-268-8574, or mspiegel@mtno.net/
Aug-15-2001 16:33 GMT
Symbols:
US;MTNO
Source PRN PR NewsWire
Categories:
NWR/NY NWI/MNG NWI/OTC NWS/PER MST/R/US/NY MST/I/MNG MST/I/MKT
MST/S/PER
WWWN .069 x .07 1 MM left @.07. Looks ready to pop.
PNSO 3.67 x 3.70. Just keeps going up up up.
Good to hear. Looks good tomorrow, with news rumored as well.
Hello everyone! I didnt have a chance to post much today, busy working. I did buy WWWN @.052 when their filing was released. It's definitely looking good for tomorrow! Larry, what do you think of FSTI? TIA
MMCI News, should pop nicely today.
Multimedia Concepts Reports Record First Quarter Fiscal 2002 Earnings: Earnings
Per Share Increased 400%
to $.05
Business Editors
NEW YORK--(BUSINESS WIRE)--Aug. 14, 2001--Multimedia Concepts
International, Inc. (OTCBB: MMCI) today announced that the Company
filed its 10-QSB with the Securities and Exchange Commission for the
first quarter ended June 30, 2001.
Net sales for the quarter ended June 30, 2001 were $ 1,282,076
versus $ 1,405,751 for the quarter ended June 30, 2000. Net income
rose from $ 29,188 for the 2000 first quarter to $156,131 for the same
period in 2001. Earnings per share increased 400% from $.01 for the
quarter ended June 30, 2000 to $.05 for the quarter ended June 30,
2001.
"I am very pleased with our performance this quarter which
reflects tremendous progress in our development and I am confident
that we are on track to excel in today's marketplace and that, with
shareholder value at the forefront of our strategies and decisions,
will witness a significant and eventful year", stated Ilan Arbel,
President.
About Multimedia Concepts International, Inc.
Multimedia Concepts International, Inc. is a holding company for
its wholly owned operating subsidiary, U.S. Apparel Corp. (USAC) The
Company's other subsidiary, United Textiles & Toys Corp. ceased all
operating activities in 1998. USAC designs and manufactures a line of
private-label knit cotton tops (such as T-shirts and polo shirts) for
boys and men. USAC's garments consist of original designs and
modifications and copies of existing designs.
This press release contains forward-looking statements, which
involve numerous risks and uncertainties. Actual results, performance
and achievements could differ materially from those anticipated in
such forward looking statements as a result of certain risk factors,
including those set forth in the Company's filings with the Securities
and Exchange Commission.
--30--sdg/ny*
CONTACT: Investor Contact:
DeMonte Associates
Cynthia DeMonte
Tel. 212-473-3700
cdemonte@demonte.com
KEYWORD: NEW YORK
INDUSTRY KEYWORD: APPAREL/TEXTILES EARNINGS
SOURCE: Multimedia Concepts International, Inc.
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
URL: http://www.businesswire.com
Aug-14-2001 11:30 GMT
Symbols:
US;MMCI
Source BW Business Wire
Categories:
MST/R/US/NY MST/I/TEX MST/S/ERN
AVSG .026 x .028. Got in Friday!
AVSG, new management, rumors of new contracts i guess?
ITCN, .05 x .08 on 30K!
EWLD, TSPN and PNSO moving up this morning. PWRX pulled back to .03 x .04, next MM @.07 on the ask.
yep, got filled
bb, I've been watching ITCN for a while now, since it was about .15. I have an order in @.05 and those damn MMs wont fill me!
Was just about to post PWRX, in @ .035!