Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
US Dataworks Announces Fiscal 2012 Fourth Quarter And Year End Results
SUGAR LAND, Texas, July 13, 2012 /PRNewswire/ -- US Dataworks, Inc. (OTC Bulletin Board: UDWK), a leader in payment processing solutions, today announced its financial results for its fiscal 2012 fourth quarter and year ended March 31, 2012.
Revenue for the fourth quarter of fiscal 2012 was $1.6 million compared to revenue of $2.1 million for the fourth quarter of fiscal 2011. Net loss for the fourth quarter of fiscal 2012 was $41,000, or $0.01 per share, compared to net income of $116,000, or $0.01 per diluted share, for the fourth quarter of fiscal 2011.
Revenue for the fiscal 2012 was $6.6 million compared to revenue of $7.3 million for fiscal 2011. Net loss for fiscal 2012 was $485,000, or $0.01 per share, compared to a net loss of $608,000, or $0.02 per share, for fiscal 2011.
Charles E. Ramey, Chairman and CEO of US Dataworks, commented, "During the fiscal fourth quarter, we made changes that have laid the groundwork for achieving our strategic goal of market dominance in the cloud payment processing space. These included organizational changes, changes to our sales and marketing approach and the development of a channel partner program. We continue to execute on this plan and are beginning to see results.
"We are in a strong position to help clients reduce their costs and become more efficient. First, we have a management team that is up to the challenge of taking the company to the next level. Second, our Clearingworks® product offering has set the standard in cloud payment processing. Third, we are ahead of our competitors in our approach to payment processing and the market is now ready," added Ramey.
"Our focus remains on customer acquisition, transactions under management and average price per transaction; and we believe that our future results should improve in fiscal 2013 as our unique value proposition is being introduced to additional customers of all sizes in this vast emerging market," concluded Ramey.
Conference Call Information
US Dataworks' management has scheduled a conference call to review its fiscal 2012 fourth quarter and year end results on Tuesday, July 17, 2012 at 11:00 a.m. Eastern time, 10:00 a.m. Central time. To listen to the call, dial (480) 629-9643 at least 10 minutes before the call begins and ask for US Dataworks' conference call. A replay of the call will be available approximately two hours after the live broadcast ends and will be accessible until July 24, 2012. To access the replay, dial (303) 590-3030 using a pass code of 4553184#.
Investors, analysts and the general public will also have the opportunity to listen to the conference call over the Internet by visiting www.usdataworks.com. To listen to the live call on the web, please visit the Company's web site at least fifteen minutes before the call begins to register, download and install any necessary audio software. For those who cannot listen to the live webcast, an archive will be available shortly after the call.
Additional information about Clearingworks as well as US Dataworks can be found on the company's website at www.clearingworks.com
Annual Financial Statements Filed With SEC - Finally!
http://investor.shareholder.com/usdw/secfiling.cfm?filingID=1144204-12-39452
Randall J. Frapart Says Dog Ate Annual Report
Well not really but at least that would explain the SEC late filing notice recently submitted on behalf of US Dataworks.
BOD Awarded Free Shares
Here they go again awarding immediately vested grants of Company Stock under the Amended and Restated 2000 Stock Plan, as amended, pursuant to the Company's Outside Directors Compensation Plan.
http://investor.shareholder.com/usdw/sec.cfm
JOSEPH SAPORITO - 8,571 Shares
THOMAS WEST - 7,500 Shares
JOHN NICHOLSON - 8,392 Shares
PATRICK MILLINOR - 9,642 Shares
It really bothers me that the BOD gets rewarded when the company can't even file their 4th quarter and annual financial statements with the SEC on time after 3 months. These guys share in this lack of execution as shareholder representatives with the sole responsibility of oversight and should not be granted any shares or paid IMHO.
Launch Aborted- UDW Files Extension with SEC
http://investor.shareholder.com/usdw/secfiling.cfm?filingID=1144204-12-37307
US Dataworks Partners Page Updated
http://www.usdataworks.com/partners/
UDWK is moving to the launch pad!
Fiscal and fourth quarter earnings ending March 31, 2012 will be released shortly.
Correct, they usually kill themselves!
Did you hear a death rattle? This is a phenomenon that occurs when death is near.
Why buy a little at a time? Take a position and hold on for the ride like me. It's not like your average price will be much lower as this stock trades for pennies. Hopefully UDW reports earnings of a shiny penny coming up in July when they report fourth quarter and fiscal earnings as of March 31, 2012.
Was that implodes or explodes?
Neither option sounds good unless the explodes is to the upside!
cMoney's Website Still Offline
Is it any surprise that they missed another one of their own deadlines? Oh, maybe they meant 48 business hours and the entire weekend was not included in their estimate?
http://www.cmoney.com
Will the cMoney website be back online within 48 hours?
We will know shortly as time is running out! My count down has started from the time I discovered the issue but I believe it was down prior to my post on Saturday, June 16, 2012 4:36:05 AM.
I researched and discovered that cMoney never had a physical office in the same building as US Dataworks yet it was listed as such on their SEC filings. Are you saying that US Dataworks allowed cMoney to use their mailing address as a part of a good working relationship?
Bouncing checks - I use this term to describe cMoney's failure to follow through with their agreement with US Dataworks. These incidents seem to be a characteristic and illustrate the overall character of this company's culture.
Oh and bouncing checks can be traced back to the patent author but hey what do I know.
cMoney Website Is Experiencing Temporary Technical Difficulties- We anticipate this problem will be resolved witin (48) hours. Thank you for your understanding and always you can contact cMoney representatives at contactus@cmoney.com?
Basically the entire deal was DOA
US Dataworks recorded the deal as booked then had to back it out of the financials after payment was not received. The chief accounting guy at the time then left.
Did you know that cMoney used an address almost identical to US Dataworks for a year plus on their SEC filings. Very strange!
There is a lively discussion on Yahoo!
http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_U/forumview?bn=109504
Maybe you should invite the Yahoo board over for a visit.
cMoney Failed to Pay US Dataworks
The deal was signed just over a year ago and the check bounced. Do more due-diligence. Oh and the patent is actually owned by Mr. Dennis Joe Pharris who is Jennifer's father.
Enjoy!
How do you know that the payment technology is ready for release? Have you seen a live demonstration? IMHO it is vaporware in concept form only.
How do you think cMoney can possibly roll out their product if checks to their third party facilitators keep bouncing?
Major Players Lock and Load
Agreements and rollouts are already in place and moving forward. Watch for several wallets to launch this summer and not all are based on NFC. Apple iTunes is entering the payments field. Watch for Isis, Dwolla and a slew of initiatives to begin their push for market share. It is not always the best technology that wins the race. In fact I have never seen cMoney in action, have you?
The Launch Window Is Closing
Alternate mobile payment technologies are on the launch pad. The count down has begun. cMoney lost the first mover advantage and every day that goes by puts them further behind the eight ball and competitors.
C ya later cMoney!
A Patent is Worthless Unless Enforced
It takes BIG bucks to enforce a patent in court and cMoney doesn't have a penny to spare!
cMoney Supplied Bogus Address to SEC
Very relevant IMHO, see snip from the November 2011 article...
"KPRC Local 2 was unable to track down a physical office for cMoney. A Sugar Land address recorded on a Security and Exchange Commission filing yielded the offices of a company that once planned to do business with cMoney but later backed out."
Patent Application Status Pending
Correct me if I am wrong but the patent application is stilll in pending status at the USPTO?
Keep Drinking the Kool-Aid Kiddies. The only real money on the line is your own. If the idea and app worked as well as promised investors would be pounding on the door to buy the company. The story is just too god to be true IMHO.
WOW, 2 Billion Shares Now Authorized and I thougjt for sure a reverse split was in the cards. Sure fooled me!
So where is the application? Anyone see it in real life and download as well as install then perform a transaction or two? Is it all just smoke and mirrors?
No SEC Filings by cMoney Since August 16, 2011?
Have you noticed that cMoney has ceased to submit SEC filings since 2011-08-16. Why?
http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001406257&owner=include&count=40
The release did not say TOP cloud providor and it included BETA so I doubt that the name is on your list.
Ok, read the PR and see that cMoney will use the remaining money after acquiring core platform for other expenses, etc so they could finally be paying UDWK US Dataworks the $1,000,000 for the original deal that was cancelled.
The PR states acquisition of the platform which seems to be an odd way to say that they are finally paying UDW or adding a payments processor to their ecosystem. The headline states 'cMoney Acquiring Core Beta Platform' so there is a remote possibility that UDW is involved but I wouldn't bet the farm just yet. If UDW is involved this would be material and I would think a PR is required.
MITK realized $1 Million in deferred revenue from Chase last quarter resulting in positive eps. They still have $500K in deferred revenue left to be recognized. Their resellers are re-loading license blocks for their clients and it is believed that Chase has started tto reload also.
You Guys Crack Me Up!
There are too many shares outstanding - is a reverse split in the cards? Has anyone seen a real demo of the product? What is this mysterious share structure banter all about? The share structure to support or collateralize the financing.
The Patents are Not Issued Yet - They are Patent Pending
The patent pending inventor is listed as Dennis Pharris. Check out who owns Global 1 Enterprises - I think you will find it is none other than Jennifer Pharris the old CEO and founder of cMoney.
Oh what a tangled web we weave when first we practice to deceive.
NASDAQ Listing Coming Soon
That's right Mitek Trackers - the recent $16 Million stock offering get Mitek over the hump for full listing with NASDAQ. Listing is akin to an IPO offering so get in before the official announcement and take advantage of this event as well as the next few quarterly reports with double digit growth.
Institutional Ownership Jumps to 20.2%
That's right LMLP Trackers - Institutional Ownership Jumped to a high of 20.2% as of March 31, 2011.
Institutions are Buying & Adding LMLP. The following Institutions initiated a NEW position or ADDED LMLP to their holdings......
CI INVESTMENTS INC. New Purchase of 568,200 Shares
RENAISSANCE TECHNOLO Shares Added of 305,614
OBERWEIS ASSET MANAG New Purchase of 343,000 Shares
BOGLE INVESTMENT MAN New Purchase of 250,948 Shares
PRESCOTT GROUP CAPIT New Purchase of 104,796 Shares
TECHNICAL FINANCIAL New Purchase of 82,583 Shares
AND MORE - CLICK HERE TO SEE FOR YOURSELF
http://www.nasdaq.com/asp/holdings.asp?FormType=Institutional&symbol=LMLP&selected=LMLP
Patent Pending Ownership Questions
Click this link and you will clearly see that Dennis Pharris is the inventor thus making him the defacto owner of the patent upon which cMoney's prospects depend on. These are the types of questions and answers that investors should be asking like who owns the patents and what gives cMoney the rights to the patents? Has Dennis Pharris assigned them to cMoney or his daughter?
http://www.google.com/patents?id=LhHKAAAAEBAJ&printsec=abstract&zoom=4&source=gbs_overview_r&cad=0#v=onepage&q&f=false
Good, It's been quiet for over a year!
The cMoney website has been advertising the Quiet Period for about a year. How long is a typical quiet period? IMHO a year is a bit excessive.
Let's not get ahead of ourselves here. Please provide some details and facts that back up your claim or better, opinion that the stock is going to fly so that I and other interested investors might hop onboard before the train leaves the station.
Huge Run - Based on What?
Oh right, patent pending approval, a real customer signed, vapor-ware developments, etc. Don't forget that there are over 343 Million Shares Outstanding, NO revenues, and the financing's main ingredient is offering more shares in repayment. Ouch!
Lets talk reality here folks!
Interesting observations, etc. regarding the company.....
1) There is no PATENT on the technology even though previos press releases stated that there is a patent. Now the PR's state PATENT PENDING.
2) cMoney reneged on a deal with US Dataworks by not paying $1 Million Dollars as agreed.
3) cMoney's stated business address on all SEC filings is in dispute as it appears to also be the registered address of US Dataworks
4) The two patent pending applications on which cMoney and investors are relying on were authored by none other than Dennis Pharris who seems to have a checkered past.
5) The patent applications could ultimately be rejected by the USPTO.
This Mobile Payments Company May Self Destruct in 15 Minutes
C$ cMoney, a mobile payments startup based in Houston, is having quite a week. On Friday, the company announced an impressive funding round of $100 million from private equity firm AGS Capital Group. In total, cMoney has secured $115 million in funding commitments from AGS and a NY-based firm called Kodiak Capital Group.
The latest announcement was picked up by a few news outlets, including the WSJ’s Venture Capital Dispatch which touted cMoney as “a start-up with a funky name [that] has an ambitious plan for replacing consumers’ debit and credit cards with a mobile-payment system.”
Sounds like another promising company in the red-hot mobile payments sector—a market that Nokia, PayPal, and a host of startups like Zong are trying to crack. Except, I don’t buy it. There is too much hype, and too little actual product coming from cmoney.
http://techcrunch.com/2010/07/11/this-mobile-payments-company-may-self-destruct-in-15-minutes/