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News for 'RCKE' - (Rock Energy Provides Progress Update on Financial Statement Audits)
HOUSTON, Jan 25, 2012 (BUSINESS WIRE) -- Rock Energy Resources, Inc. (symbol:
RCKE.PK) provided an update today on progress in providing RCKE shareholders
with audited financial statements through the end of ! calendar 2011.
On January 11, 2012, the Company submitted to the Securities and Exchange
Commission a request for a comprehensive Form 10k filing of its results for the
calendar years ending 2009, 2010 and 2011 inclusive of interim reports for each
calendar 2011 quarter and prior year. Thereafter the Company received a consent
letter dated January 12, 2012 from the Securities and Exchange Commission
allowing RCKE to present its delinquent filings to such a single comprehensive
Form 10k filing. Investors may access a complete copy of the SEC letter and all
conditions contained therein, which is on file with the Commission under a Form
8K filed as of this date and can be accessed at www.sec.gov. Receipt of
permission from the SEC for this comprehensive filing is expected to advance the
previous guidance that updated financials would be available in ninety days.
Pre-audit work is currently scheduled to be completed by January 30, 201! 2. The
Company's auditors have already begun preliminary work on th eir process and
subject to meeting the January 30 deadline audited financials should be
available by the end of February 2012.
In conjunction with the audit process, the Company noted that its prior senior
secured debt of approximately $14 million (inclusive of accrued interest) was
extinguished effective 12/31/10.
Commenting on the progress in financial reporting compliance, Rocky V. Emery,
Chairman and CEO of RCKE stated, "We are very pleased with the progress we are
making on this important front for our shareholders. Our group is diligently
performing and coordinating requisite tasks to bring ourselves into full
compliance well ahead of our previous expectations. Our ability to file a
comprehensive Form 10k is an important step for us. We are grateful to the
Commission for allowing us to accelerate our compliance filings. Likewise, the
extinguishment of the prior Senior Secured debt was a critical step in our
ability to i! ntegrate our now 100% owned subsidiary American Patriot Gold under
the RCKE umbrella."
Cautionary Statements
CAUTIONARY STATEMENT REGARDING FUTURE RESULTS AND FORWARD-LOOKING STATEMENTS:
This Web site and press release contains information. Including statements as to
the Company's future financial or operating performance, that constitute
"forward-looking statements" within the meaning of Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934,
as amended, which statements are intended to be covered by the safe harbor
created by such sections and other applicable laws. All statements, other than
statements of historical fact, are forward-looking statements. The words
"believe", "expect", "anticipate", "contemplate", "target", "plan", "intends",
"continue", "budget", "estimate", "may", "will", "schedule" and similar
expressions identify forward-looking statements. Forward-loo! king statements are
necessarily based upon a number of estimates an d assumptions that, while
considered reasonable by the Company, are inherently subject to significant
business, economic and competitive uncertainties and contingencies. Known and
unknown factors could cause actual results to differ materially from those
projected in the forward-looking statements. Such forward-looking statements
include, without limitation: (i) estimates of future mineral production, results
and sales; (ii) estimates of future costs applicable to sales, other expenses
and taxes, for specific operations and on a consolidated basis; (iii) estimates
of future capital expenditures, construction, production or closure activities;
(iv) statements regarding future exploration potential, asset potential,
potential resource expansion and targeted production; (v) estimates and
expectations regarding reserves, nonreserve mineralization and potential ounces;
(vi) statements regarding fluctuations in capital and currency markets; (vii! )
statements regarding potential cost savings, productivity, operating
performance, and cost structure; (viii) expectations regarding the development,
growth, mine life, production and costs applicable to sales and exploration
potential of the Company's projects; and (ix) expectations regarding the impacts
of operating technical or geotechnical issues in connection with the Company's
projects or operations. Estimates or expectations of future events or results
are based upon certain assumptions, which may prove to be incorrect. Such
assumptions, include, but are not limited to: (i) there being no significant
change to current geotechnical, metallurgical, hydrological and other physical
conditions; (ii) permitting, development, operations and expansion of the
Company's projects being consistent with current expectations and mine plans;
(iii) certain price assumptions for gold, copper and oil; (iv) certain effective
tax rate assumptions ! (v) prices for key supplies being approximately consistent
with cur rent levels; and (vi) the accuracy of our current mineral reserve and
mineral resource estimates. Where the Company expresses or implies an
expectation or belief as to future events or results, such expectation or belief
is expressed in good faith and believed to have a reasonable basis. However,
forward-looking statements are subject to risks, uncertainties and other
factors, which could cause actual results to differ materially from future
results expressed, projected or implied by such forward-looking statements. Such
risks include, but are not limited to, gold and other metals price volatility,
currency fluctuations, increased production costs and variances in ore grade or
recovery rates from those assumed in mining plans, political and operational
risks in the jurisdiction in which we operate, changes in governmental
regulation, including taxation, environmental, permitting and other regulations,
and judicial outcomes The Company does! not undertake any obligation to release
publicly revisions to any "forward-looking statement," to reflect events or
circumstances after the date of publication, or to reflect the occurrence of
unanticipated events, except as may be required under applicable securities
laws.
SOURCE: Rock Energy Resources, Inc.
CONTACT:
Rock Energy Resources, Inc.
Rocky V Emery, Chairman & CEO
Managing Member American Patriot Gold
2607 Sara Ridge
Katy, Texas 77450
www.americanpatriotgold.com
Remery@americanpatriotgold.com
O: 832-301-5968
C: 832-691-7991
Copyright Business Wire 2012
-0-
KEYWORD: United States
North America
&nb! sp; & nbsp; Texas
INDUSTRY KEYWORD: Natural Resources
Mining/Minerals
O.K., we need some list makers:)
Yes, not going anywhere.
another low hanging fruit
Cyberdefender Corp. (CYDE) 0.23
good question - way undervalued here, imo.
(CRWV) 0.005
News for 'RCKE' - (Rock Energy CEO Acquires 2,500,000 Shares of Company)
HOUSTON, Jan 19, 2012 (BUSINESS WIRE) -- Rock Energy Resources, Inc. (symbol:
"RCKE.PK") announced today that Rocky V. Emery, the Company's Chairman and CEO,
exercised stock options to acquire 2,500,000 restricted common s! hares of the
Company. The stock options were granted in 2009 at the strike price of $.16 per
share, and were exercisable through May 9, 2014.
Rocky Emery, Chairman and CEO of RCKE, stated, "I have chosen to exercise these
options at this time because I believe in the over-all strength of our Company.
We are ahead of schedule on all phases at the mine, and have the capital in
place to fully fund our business activities for the next 2-3 years. I am also
pleased with the progress of our management team and outside professionals,
preparing our Company's financial statements and disclosures, basically, well
ahead of schedule. We look forward to keeping our shareholders and the market
current with all of our activities as we move forward."
Cautionary Statements
CAUTIONARY STATEMENT REGARDING FUTURE RESULTS AND FORWARD-LOOKING STATEMENTS:
This Web site and press release contains information, including statements as to
the Compa! ny's future financial or operating performance, that constitute
"fo rward-looking statements" within the meaning of Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934,
as amended, which statements are intended to be covered by the safe harbor
created by such sections and other applicable laws. All statements, other than
statements of historical fact, are forward-looking statements. The words
"believe", "expect", "anticipate", "contemplate", "target", "plan", "intends",
"continue", "budget", "estimate", "may", "will", "schedule" and similar
expressions identify forward-looking statements. Forward-looking statements are
necessarily based upon a number of estimates and assumptions that, while
considered reasonable by the Company, are inherently subject to significant
business, economic and competitive uncertainties and contingencies. Known and
unknown factors could cause actual results to differ materially from those
projected in the forward-looking s! tatements. Such forward-looking statements
include, without limitation: (i) estimates of future mineral production, results
and sales; (ii) estimates of future costs applicable to sales, other expenses
and taxes, for specific operations and on a consolidated basis; (iii) estimates
of future capital expenditures, construction, production or closure activities;
(iv) statements regarding future exploration potential, asset potential,
potential resource expansion and targeted production; (v) estimates and
expectations regarding reserves, nonreserve mineralization and potential ounces;
(vi) statements regarding fluctuations in capital and currency markets; (vii)
statements regarding potential cost savings, productivity, operating
performance, and cost structure; (viii) expectations regarding the development,
growth, mine life, production and costs applicable to sales and exploration
potential of the Company's projects; and (ix) expectations re! garding the impacts
of operating technical or geotechnical issues i n connection with the Company's
projects or operations. Estimates or expectations of future events or results
are based upon certain assumptions, which may prove to be incorrect. Such
assumptions, include, but are not limited to: (i) there being no significant
change to current geotechnical, metallurgical, hydrological and other physical
conditions; (ii) permitting, development, operations and expansion of the
Company's projects being consistent with current expectations and mine plans;
(iii) certain price assumptions for gold, copper and oil; (iv) certain effective
tax rate assumptions (v) prices for key supplies being approximately consistent
with current levels; and (vi) the accuracy of our current mineral reserve and
mineral resource estimates. Where the Company expresses or implies an
expectation or belief as to future events or results, such expectation or belief
is expressed in good faith and believed to have a reasonable basis. How! ever,
forward-looking statements are subject to risks, uncertainties and other
factors, which could cause actual results to differ materially from future
results expressed, projected or implied by such forward-looking statements. Such
risks include, but are not limited to, gold and other metals price volatility,
currency fluctuations, increased production costs and variances in ore grade or
recovery rates from those assumed in mining plans, political and operational
risks in the jurisdiction in which we operate, changes in governmental
regulation, including taxation, environmental, permitting and other regulations,
and judicial outcomes The Company does not undertake any obligation to release
publicly revisions to any "forward-looking statement," to reflect events or
circumstances after the date of publication, or to reflect the occurrence of
unanticipated events, except as may be required under applicable securities
laws.
SOURC! E: Rock Energy Resources, Inc.
CONTACT: &nbs p;
Rocky V Emery Chairman & CEO
Rock Energy Resources, Inc.
Managing Member American Patriot Gold
2607 Sara Ridge
Katy, Texas 77450
www.americanpatriotgold.com
Remery@americanpatriotgold.com
O: 832-301-5968
C: 832-691-7991
Copyright Business Wire 2012
-0-
KEYWORD: United States
North America
Texas
INDUSTRY KEYWORD: Natural Resources
Mining/Minerals
Optimism in the housing sector is picking up and the January NAHB/Wells Fargo Housing Market Index rose up to a reading of 25. The most striking aspect of the report was that it's at its highest level since June 2007, after increasing for a fourth month in a row. It reflects an ongoing perception by homebuilders of more traffic, and improving chances of making sales in the months ahead.
good one lizzy:)
almost made the list...
hey crazyj, agreed!
RIP = prmo!
Happy Holidays Lizzy & all!
News for 'RCKE' - (Rock Energy Resources Announces the Closing of Its He-Man LLC Acquisition, the Ordering of Mill Equipment and the Commencement of Mining Operations)
HOUSTON, Dec 20, 2011 (BUSINESS WIRE) -- Rock Energy Resources, Inc. (RCKE.pk)
announced today that it has closed its acquisitio! n of 100% of the equity
interests of privately held He-Man, LLC. He-Man's principal asset is a 49%
interest in the Red Arrow gold mine located in Mancos, Colorado. As previously
announced, He-Man closed on a $25 million credit facility to fund the
development of the Red Arrow mine on December 14, 2011.
Rock Energy also announced that it has begun ordering the equipment needed for
installation of the first 20,000 ton per year mill at the Red Arrow mine. Once
fully operational and with a projected yield of 1 ounce of gold per ton, Mill #1
is expected to generate approximately $30 million per year of revenues at an
estimated cost of $1,500 per ounce. The Company plans to install three mills
over the next three years. Mill #1 is expected to be operational in April 2012.
The Company has already begun the process of moving already mined ore onto the
location where Mill #1 will be constructed.
Commenting on today's announcement, Rocky! V. Emery, Chairman and CEO of Rock
Energy Resources, stated, "We a re beginning the operational process even now to
get a jump on the New Year. As previously stated, we are taking the necessary
steps to rebuild our Company for the benefit of our loyal shareholders on all
fronts. In the coming weeks we will lay out a complete plan along with pro-forma
financial statements. We have also retained the professionals to begin the
process of updating the Company's public company reports, including its
financial statements. I am committed to accomplishing these projects for our
shareholders and intend to keep everyone up to speed with our progress on these
fronts."
Certain statements contained in this press 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 substantial
uncertainties and risks in part detailed in the respective Company's Securities
and Exchange Commission filings,! that may cause actual results to materially
differ from projections. Although the Company believes that its expectations are
reasonable assumptions within the bounds of its knowledge of its businesses,
expectations, representations and operations, there can be no assurance that
actual results will not differ materially from their expectations. Important
factors currently known to management that could cause actual results to differ
materially from those in forward-looking statements include the Company's
ability to execute properly its business model, to raise additional capital to
implement its continuing business model, the ability to attract and retain
personnel -- including highly qualified executives, management and operational
personnel, ability to negotiate favorable current debt and future capital
raises, and the inherent risk associated with a diversified business to achieve
and maintain positive cash flow and net profitability.! In light of these risks
and uncertainties, there can be no assuran ce that the forward-looking
information contained in this press release will, in fact, occur.
SOURCE: Rock Energy Resources, Inc.
CONTACT:
Rock Energy Resources, Inc.
Rocky V. Emery, 832-301-5968
Chairman and CEO
emeryrocky1@aol.com
Copyright Business Wire 2011
-0-
KEYWORD: United States
North America
Colorado
Texas
INDUSTRY KEYWORD: Energy
! ; Oil/Gas
Other Energy
Natural Resources
Mining/Minerals
SUBJECT CODE: Merger/Acquisition
Here's the news alert I received earlier.
News for 'FEED' - (NASDAQ Halts AgFeed Industries, Inc.)
NEW YORK, Dec 19, 2011 (GlobeNewswire via COMTEX) -- The NASDAQ Stock Market(R)
(Nasdaq:NDAQ) announced that trading was halted today in AgFeed Industries, Inc.
(Nasdaq:FEED) at 13:29:39 p.m., Eastern Time, for "additional information
! requested" from the company at a last price of $0.3894.
Trading will remain halted until AgFeed Industries, Inc. has fully satisfied
NASDAQ's request for additional information.
For news and additional information about the company, please contact the
company directly or check under the company's symbol using InfoQuotes(SM)on the
NASDAQ(R) Web site.
For more information about The NASDAQ Stock Market, visit the NASDAQ Web site at
http://www.nasdaq.com.
NDAQO
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: The NASDAQ OMX Group, Inc.
By Staff
CONTACT: CONTACT: NASDAQ OMX Media Contact: Wayne Lee
+1.301.978.4875
&n! bsp; Wayne.D.Lee@NASDAQOMX.com
(C) Copyright 2010 GlobeNewswire, Inc. All rights reserved.
-0-
INDUSTRY KEYWORD: Financial Services
SUBJECT CODE: CORPORATE
Stock Market News
lizzy, nice one for the list:)
that was a quick shot!
morning lizzy & all!
happy belated Thanksgiving tm, hope your doing well:)
markets jumping today:)
News for 'FEED' - (AgFeed Industries Receives Notice from Nasdaq)
Nov 30, 2011 (Close-Up Media via COMTEX) -- AgFeed Industries, Inc., announced
that it has received notice from The Nasdaq Stock Market that, because the
Company has not yet filed its Quarterly Report on Form 10-Q for the period ! ended
Sept. 30, with the Securities and Exchange Commission, the Company no longer
complies with the continued listing requirements under Nasdaq Marketplace Rule
5250(c)(1).
As previously reported by the Company in its Notification of Late Filing on Form
12b-25, filed with the Commission on Nov. 10, the Company said it was unable to
file the 10-Q within the prescribed period due to the ongoing investigation of
the special committee of the Board. As previously disclosed, on Sept. 29, the
Company announced that its Board appointed the Special Committee to investigate
the accounting relating to certain of the Chinese farm assets (acquired during
2007 and 2008) used in the Company's Chinese hog production business, the
validity and collectability of certain of the Company's accounts receivable
relating to its Chinese animal nutrition business, and any other issues that may
arise during the course of its investigation. The Special Commi! ttee engaged the
law firm of Latham & Watkins (L&W) to serve as its independent counsel in
connection with the Investigation, and L&W retained the forensic accounting firm
of FTI Consulting to serve as its forensic accounting advisor. The Special
Committee has not completed the Investigation or arrived at any final
conclusions. The Special Committee is continuing its investigation, and no
assurance can be provided as to when the Investigation will be completed.
AgFeed reported that it is required to submit a plan to regain compliance with
Nasdaq's requirements for continued listing, and, under the discretionary
authority under Nasdaq Marketplace Rule 5101, in order to expedite the review
process, Nasdaq is requiring that the plan must be submitted no later than Dec.
19. If Nasdaq accepts the plan submitted by the Company, Nasdaq can grant an
exception of up to 180 calendar days from the due date of the 10-Q to regain
compliance. The Company intends to submit to Nasdaq, on or before Dec. 19, a
plan ! to regain compliance with Nasdaq's requirements for continued listing.
There can be no assurance that the Company will successfully regain compliance
with such requirements.
If Nasdaq does not accept the Company's plan, the Company said that Nasdaq will
provide notice that the Company's common stock will be subject to delisting. The
Company would have the right to appeal a determination to delist its common
stock, and the common stock would remain listed on the Nasdaq Global Select
Market until the completion of the appeal process.
The Company intends to submit the 10-Q as soon as practicable after the
completion of the Investigation by the Special Committee.
AgFeed Industries is an international agribusiness with operations in the U.S.
and China. AgFeed has two business lines: animal nutrition in premix,
concentrates and complete feeds and hog production.
More Information:
www.agfeedinc.com
((Comments on ! this story may be sent to newsdesk@closeupmedia.com))
< BR>Copyright Close-Up Media, Inc. 2011. All Rights reserved
-0-
INDUSTRY KEYWORD: Professional_Services_Close-up
News for 'FEED' - (Traders Get Bullish on Shares of AgFeed Industries, Shares Up 9.6% (FEED))
Nov 23, 2011 (SmarTrend(R) Spotlight via COMTEX) -- AgFeed Industries
(NASDAQ:FEED) is one of today's best performing penny stocks, up 9.6% to $0.57
on 0.9x average daily volume.AgFeed Industries has t! raded 320,000 shares thus
far today, vs. average volume of 344,000 shares per day. The stock has
outperformed the Dow (9.8% to the Dow's -1.4%) and outperformed the S&P 500
(9.8% to the S&P's -1.6%) during today's trading.
AgFeed Industries share prices have moved between a 52-week high of $3.15 and a
52-week low of $0.37 and are now trading 54% above that low price at $0.57 per
share. In the last five trading sessions, the 50-day moving average (MA) has
fallen 3.2% while the 200-day MA has slid 2.3%.
AgFeed Industries, Inc. produces and sells additive pre mix and piglet blending
feeds to China's domestic animal markets.
SmarTrend recommended that its subscribers protect gains by selling shares of
AgFeed Industries on November 8th, 2011 by issuing a Downtrend alert when the
shares were trading at $0.61. Since that call, shares of AgFeed Industries have
fallen 14.0%. We are now looking for when a new Uptrend will commence an! d will
alert SmarTrend subscribers in real time.
Write to Ch ip Brian at cbrian@mysmartrend.com
---------------------------------------------------------------------------------------------
SmarTrend analyzes over 5,000 securities simultaneously throughout the trading
day and provides its subscribers with trend change alerts in real time. To get a
free trial of our trading calls and maximize your trading results, please visit
http://www.MySmarTrend.com
Get exclusive, actionable insight into how the market is expected to trend prior
to market open with our free morning newsletter. Sign up at:
http://www.MySmarTrend.com/signup
Copyright, Comtex News Network, Inc. 2011
-0-
okie-dokie
good deal, lets look:)
News for 'FEED' - (Hot Stock: AgFeed Industries, Shares Gain 5.9% (FEED))
Nov 15, 2011 (SmarTrend(R) Spotlight via COMTEX) -- AgFeed Industries
(NASDAQ:FEED) is one of today's best performing penny stocks, up 5.9% to $0.54
on 0.5x average daily volume.AgFeed Industries has traded 234,000 shares! thus
far today, vs. average volume of 488,000 shares per day. The stock has
outperformed the Dow (3.9% to the Dow's -0.3%) and outperformed the S&P 500
(3.9% to the S&P's -0.2%) during today's trading.
AgFeed Industries share prices have moved between a 52-week high of $3.15 and a
52-week low of $0.37 and are now trading 46% above that low price at $0.54 per
share. The 200-day and 50-day moving averages have moved 2.08% lower and 2.94%
lower over the past week, respectively.
AgFeed Industries, Inc. produces and sells additive pre mix and piglet blending
feeds to China's domestic animal markets.
SmarTrend is monitoring the recent change of momentum in AgFeed Industries.
Please refer to our Company Overview for the results of our proprietary
technical indicators that have been scanning shares of AgFeed Industries in
search of a potential trend change.
Write to Chip Brian at cbrian@mysmartrend.com
----------! ---------------------------------------------------------------------- -------------
SmarTrend analyzes over 5,000 securities simultaneously throughout the trading
day and provides its subscribers with trend change alerts in real time. To get a
free trial of our trading calls and maximize your trading results, please visit
http://www.MySmarTrend.com
Get exclusive, actionable insight into how the market is expected to trend prior
to market open with our free morning newsletter. Sign up at:
http://www.MySmarTrend.com/signup
Copyright, Comtex News Network, Inc. 2011
-0-
News for 'TGIC' - (Triad Guaranty reports third-quarter loss)
Nov 11, 2011 (Winston-Salem Journal - McClatchy-Tribune Information Services
via COMTEX) -- Increasing efforts by financial institutions to flush
non-salvageable residential mortgages through the foreclosure pipeline
contributed t! o another large loss for Triad Guaranty Inc.
The company, based in Winston-Salem, reported today a loss of $37.5 million in
the third quarter compared with net income of $54 million a year ago.
The profit in the third quarter of 2010 was bolstered by a one-time gain of
$29.6 million from the repurchase and retirement of long-term debt.
Triad had an earnings loss of $2.46 a share compared with diluted earnings of
$3.56 a share a year ago.
"High unemployment, tight credit and depressed home prices have prevented any
meaningful recovery in the housing market, which continues to negatively impact
our financial results," said Ken Jones, Triad's president and chief executive.
Triad was one of the first victims of the financial crisis that began in late
2007.
It said in June 2008 it would discontinue writing new mortgage-insurance
business and would conduct "an orderly transition of its business to runoff."
That mea! ns that the company's revenue would come from existing policies thateventually will expire.
Triad said it expects to exist for another four to six years. Since the company
went into runoff, only handling past accounts, it has not had analyst coverage.
In the past two quarters, more financial institutions have opted to accelerate
the pace of foreclosure proceedings for homeowners they've determined as unable
to catch up on their mortgages and mortgage-insurance premiums.
When financial institutions have to reserve money for a nonperforming mortgage,
the cost directly affects their bottom lines.
Triad said it spent $132.5 million on settled claims in the third quarter
compared with $111.6 million in the second quarter.
The company said it had a 37 percent decrease in its reserves to $44.2 million
in the third quarter.
It had revenue of $49.7 million in the third quarter compared with $35.4 million
in the second quarter and $44.3 million a year ago.
Jones said the company's! deficit in assets was $631 million on Sept. 30 compared
with $593.3 million on June 30 and $595.4 million on Sept. 30, 2010.
Triad cautioned again it can't guarantee it will be able to meet current and
future policy obligations with its revenue stream.
Triad has 70 employees, down from 250 when it made the runoff announcement.
Jones said the company's work force will remain in balance with the amount of
work required.
___ (c)2011 Winston-Salem Journal (Winston Salem, N.C.) Visit Winston-Salem
Journal (Winston Salem, N.C.) at www2.journalnow.com Distributed by MCT
Information Services
Richard Craver
Copyright (C) 2011, Winston-Salem Journal, N.C.
-0-
SUBJECT CODE: WN
News for 'CYDE' - (CyberDefender Corporation Announces Third Quarter 2011 Financial Results)
LOS ANGELES, Nov 10, 2011 (GlobeNewswire via COMTEX) -- CyberDefender(R)
Corporation (Nasdaq:CYDE), a leading provider of direct-to-consumer remote
technical support services, Internet security software! and utilities, today
announced financial results for the third quarter ended September 30, 2011.
Third Quarter 2011 Highlights
-- Cost of revenue declined 30% year-over-year, 33% sequentially
-- Gross profit increased 11% year-over-year, 16% sequentially
-- Gross sales renewals increased 11% year-over-year
-- Company secured $5.2 million in financing
Management Change
The Board of Directors reached an agreement in principle to appoint Greg Thomas
as its chief executive officer and is engaged with Mr. Thomas to execute a
formal employment agreement by November 15, 2011. Gary Guseinov, the Company's
former chairman and chief executive officer, resigned effective August 1, 2011.
Kevin Harris, the Company's chief financial officer, has been appointed interim
chief executive officer.
Mr. Thomas has served as an independent advisor to the Board of Direc tors and
the Company since May 2011. He brings to CyberDefender more than 20 years of
industry expertise in growing and managing highly successful direct-to-consumer
marketing companies.
"Our third quarter was dedicated to the implementation of our strategic plan,
and I am excited to report our efforts yielded meaningful improvements to a
number of key metrics," said Mr. Thomas. "Our company plan for stability, growth
and profitability includes comprehensive efforts across front-end customer
acquisition, product portfolio, call center efficiency, collections, and our
eCommerce platform. We are committed to providing best-of-breed products and
services to our customers while achieving sustainable profitability and building
a solid foundation so that we may capitalize on the opportunity ahead of us."
"Meeting our goals for profitability will require perseverance, determination
and commitment and this will not be accomplished overn! ight. I am, however,
confident we have the right plan and the right team in place," concluded Mr.
Thomas.
Results for the Quarter Ended September 30, 2011
GAAP revenue for the third quarter of 2011 was $11.8 million, compared to $12.7
million reported in the same quarter of 2010. Gross sales for the third quarter
of 2011 were $13.8 million compared to $18.6 million reported in the same
quarter of 2010. The Company defines gross sales (a non-GAAP measure) as GAAP
revenues before returns and before deferring revenue for GAAP purposes (the
Company's use of non-GAAP measures and reconciliation to GAAP is explained
below).
Cost of revenue for the third quarter of 2011 was $4.1 million compared to $5.8
million for the third quarter of 2010.
Gross profit for the third quarter of 2011 was $7.7 million compared to $6.9
million in the third quarter of 2010.
Gross margins in the third quarter of 2011 increased to 65% of ! net revenue
compared to 54% in the same quarter of 2010.
Dur ing the third quarter, the Company raised an aggregate of $5.2 million in
financing. The company closed $3.2 million of the aggregate during the third
quarter, and will recognize the remaining $2 million during the fourth quarter.
The financing is described in a Form 8-K filed with the Securities and Exchange
Commission on October 4, 2011.
"As we continue to explore opportunities to improve the capitalization of the
company, we believe that the additional financing raised during the third
quarter will permit the Company to continue to execute on its strategic
repositioning plan," said Interim Chief Executive Officer and Chief Financial
Officer Kevin Harris.
The Company ended the quarter with deferred revenue of $18.5 million and
unrestricted cash of $1.5 million.
Results for the Nine Months Ended September 30, 2011
GAAP revenue for the nine months ended September 30, 2011 was $39.9 million,
compared to $32.0 million r! eported during the same period of 2010. Gross sales
(a non-GAAP measure) for the nine months ended September 30, 2011 was $50.9
million, compared to $42.8 million reported during the same period of 2010.
Cost of revenue for the first nine months of 2011 was $17.3 million, compared to
$13.0 million reported during the same period of 2010.
Gross profit for the first nine months of 2011 was $22.6 million, compared to
$18.9 million reported during the same period of 2010.
2011 Guidance
For the full year 2011, the Company expects gross sales in the range of $63 to
$65 million.
Non-GAAP Financial Measures
Gross sales are a non-GAAP measure that the Company uses in assessing its
operating performance. We define gross sales as total sales before refunds and
uncollectible receivables/cancels and before deferring revenue for GAAP
purposes. We use this non-GAAP financial measure frequently because we believe
it gives! a better indication of our operating performance and the profitabilit y
of our marketing initiatives. We include this non-GAAP financial measure in our
earnings announcements in order to provide transparency to our investors and
enable investors to better understand our operating performance. However, gross
sales alone should not be used to assess our financial performance or to
formulate investment decisions.
The following is a reconciliation of gross sales to net GAAP revenue for the
three and nine months ended September 30, 2011 and September 30, 2010.
Three Months Ended September Nine Months Ended September
! 30, 30,
----------------------------- -----------------------------
2011 &nb! sp; 2010 &n bsp; 2011 2010
------------ ------------ ------------ ------------
Gross Sales $ 13,820,120 $ 18,559,760 $ 50,917,727 $ 42,801,971
Less: Refunds (1,433,312) (2,455,713) (5,603,873)&! nbsp; (5,411,358)
Less: Uncollected EZ pay (729,714) (1,276,108) (2,639,899) (2,070,470)
Less: Change in deferred
revenue 129,455 ! (2,081,836) (2,79 0,917) (3,384,124)
------------ ------------ ------------ ------------
Net revenue $ 11,786,549 $ 12,746,103 $ 39,883,038 $ 31,936,019
============ ============ ============ ============
Conference Call Information
The Company will host a conference call to discuss third quarter 2011 results
today, Thursday, November 10, 2011 at 1:30 pm PT/4:30 pm ET.
To access the live conference call, dial (877) 407-9210 (toll free) and give the
company name, "CyberDefender." Participants are asked to call the assigned
number approximately 10 minutes before the conference call begins. For those
unable to participate in the live conference call, a replay of the conference
call will be available (starting two hours after the call) by dialing (877)
660-6853 and entering the following account #: 286 and conference ID #: 382231.
International callers may access the replay by calling (201) 612-7415 and
entering the above pass code.
To listen to the live webcast, logon using the link provided in the events
section of the Company's website: www.cyberdefendercorp.com. An instant replay
of the conference call will be ! available over the Internet at the same web
address.
About C yberDefender
CyberDefender is a leading provider of remote technical support services,
Internet security software and utilities directly to the consumer market.
CyberDefender's team of highly trained technicians and sales agents provide
customers with efficient, round the clock remote PC repair services. The company
markets antispyware/antivirus software, PC optimization software and online
backup services. By combining remote live technical support and the
aforementioned software products, CyberDefender offers a complete Internet
security solution to consumers.
CyberDefender directly markets its products and services to consumers through
television and radio via its MyCleanPC(R), MaxMySpeed(R) and DoubleMySpeed(R)
brands. CyberDefender products are fully compatible with Microsoft Windows(R)
XP, Vista(R), and 7 Operating systems. All products are available at
www.cyberdefender.com. Investor relations information is available atwww.cyberdefendercorp.com.
The CyberDefender Corporation logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=7874
Forward Looking Statements
Statements in this public announcement that are not statements of historical or
current fact, including any statement regarding future growth and profitability,
and future revenue targets, constitute "forward-looking statements" under
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. The forward looking statements
include statements concerning the Company's future business and financial
prospects including, but not limited to, the Company's ability to execute on its
strategic repositioning plan and its ability to achieve profitability. . The
forward-looking statements involve known and unknown risks, uncertainties and
other unknown factors that could cause CyberDefender's actual results to bematerially different from the historical results or from any future results
expressed or implied by such forward-looking statements. Factors that could
cause CyberDefender's results to be materially different from the
forward-looking statements include whether CyberDefender will be able to find
financing as required and whether CyberDefender's revenues eventually will
exceed its expenses. The forward-looking statements also are subject generally
to other risks and uncertainties that are described from time to time in
CyberDefender's reports and registration statements filed with the Securities
and Exchange Commission, which are available for review at www.sec.gov.
CYBERDEFENDER CORPORATION
CONDENSED BALANCE SHEETS &! nbsp;
(UNAUDITED)
September 30, December 31,
&n! bsp; 2011 &n bsp; 2010
------------- ------------
ASSETS
Current assets
! ; Cash $ 1,546,221 $ 2,649,061
Restricted cash 2,255,074 3,079,394
Accounts receivable 1,688,276 2,385,920
Deferred financing costs,
current &nbs! p; &n bsp; 124,241 103,484
Prepaid expenses 174,225 195,258
Deferred charges, current 335,174 1,147,764
------------- ------------
Total current assets 6,123,211 9,560,881
Property and equipment, net ! 1,508,744 1,742,675
Deferred financing costs, net
of current portion -- 6,377
Deferred charges, net of
current portion &nb! sp;41,467 402,772
Other assets 288,225 269,314
------------- ------------
Total assets $ 7,961,647 $ 11,982,019
============= ============
LIABILITI! ES AND STOCKHOLDERS'
DEFICIT
Current liabilities:
Accounts payable $ 5,794,6! 69 $ 6,275,896
Accounts payable and a ccrued
expenses -- related party 3,140,890 1,447,257
Accrued expenses 1,887,959 1,788,435
Deferred revenue, current 13,707,888 11,342,211
Convertible notes payable --
relat! ed party, net of
discount 10,458,924 --
Capital lease obligations,
current ! ; 129,552 137,435
&nb sp; ------------- ------------
Total current liabilities 35,119,882 20,991,234
Deferred rent 804,777 466,920
Deferred revenue, less current
portion &nbs! p; 4,841,681 4,116,442
Convertible notes payable --
related party 150,000 9,825,056
Convertible notes payable, net
of discount ! 1,554,059 --
Capital lease obligations, less
current portion 78,856 168,572
------------- ------------
Total liabilities 42,549,255 35,568,224
&nbs! p; ------------- ------------
Commitments and contingencies
Stockholders' deficit:
Preferred stock, par value !
$0.001; 10,000,000 shares
authorized; no shares issued
and outstanding at September
30, 2011 and December 31,
2010, respectively ! -- --
Common stock, par value $0.001;
100,000,000 shares authorized;
27,916,440 and 27,327,702
shares issued and outstanding &nb! sp; & nbsp;
at September 30, 2011 and
December 31, 2010,
respectively 28,115 27,328
Treasury stock at par value, &nbs! p;
199,287 shares (199) --
Additional paid-in capital 67,511,341 60,926,037
Accumulated deficit (102,126,865) (84,539,570)
------------- ------------
! ; Total stockholders' deficit (34,587,608) (23,586,205)
------------- ------------
Total liabilities and
stockholders' deficit $ 7,961,647 $ 11,982,019
============= ============
CYBERDEFENDER CORPORATION CONDENSED STATEMENTS OF OPERATIONS
(UNAUDITED)
&nb! sp; For the Three Months &nbs p; For the Nine Months
Ended Ended
----------------------------- ------------------------------
&nbs! p; September 30,
September 30, September 30, September 30,
2011 2010 &nbs! p; 2011&nbs p; 2010
------------- -------------- -------------- --------------
Net revenue:
Services ! $ 7,345,340 $ 7,928,021 $ 25,882,764 $ 17,592,282
Software and other 4,441,209 4,818,082 14,000,275 14,343,737
------------- -------------- -------------- --------------
Total net revenue 11,786,549 12,746,103 39,883,039 31,936,019
Cost of revenue: ;
Services 3,935,382 5,616,316 16,588,621 12,348,299
Software and other 152,132 217,581 727,271 &! nbsp; 654,449
------------- -------------- -------------- --------------
Total cost of revenue 4,087,514 5,833,897 17,315,892 13,002,748
------------- -------------- -------------- --------------
Gross profit &n! bsp; 7,699,035 &nb sp; 6,912,206 22,567,147 18,933,271
Operating expenses:
Media and marketing &nb! sp;
services 5,145,098 5,954,673 17,074,771 16,038,652
Media and marketing
services -- related &nbs! p; &n bsp;
party 175,534 6,500,634 861,766 18,623,694
Product development 571,289 742,207 2,334,051 2,457,726
Selling, general and &! nbsp;
administrative 4,610,523 4,252,866 15,574,806 11,402,399
Depreciation and &! nbsp; ;
amortization 111,353 51,867 316,709 127,012
------------- -------------- -------------- --------------
Total operating expenses 10,613,797 17,502,247 36,162,103 48,649,483
&nb! sp; ------------- -------------- -------------- --------------
Loss from operations (2,914,762) (10,590,041) (13,594,956) (29,716,212)
Interest expense --
related party &! nbsp; (1,866,870) (279, 382) (3,620,971) (556,080)
Interest expense, net (255,318) (11,897) (268,651) (945,116)
Loss on securities
modifications ! -- -- (102,717) --
------------- -------------- -------------- --------------
Net loss $ (5,036,950) $ (10,881,320) $ (17,587,295) $ (31,217,408)
============= ===========! === ============== ==============
Basic and fully diluted
net loss per share $ (0.18) $ (0.40) $ (0.63) $ (1.18)
============= ============== ==============&n! bsp; ==============
Weighted average shares
outstanding:
&nb! sp;Basic and fully diluted &n bsp;27,745,673 27,027,189 27,832,353 26,408,814
============= ============== ============== ==============
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: CyberDefender Corporation
By Staff
CONTACT: CONTACT: Investor Relations:
(213) 689-8631 x 401
IR@CyberDefender.com
&nbs! p; IR Site: www.CyberDefenderCorp.com
(C) Copyright 2010 GlobeNewswire, Inc. All rights reserved.
-0-
INDUSTRY KEYWORD: Computer Software and Services
SUBJECT CODE: SOFTWARE
EARNINGS
WEBCAST
CONFERENCE CALL
Earnings Releases and Operating Results
Calenda! r of Events
when will the "Bid" return?
News for 'FEED' - (Investors look to Lighten Up on Shares of AgFeed Industries, Shares Down 9.5% (FEED))
Nov 08, 2011 (SmarTrend(R) Spotlight via COMTEX) -- AgFeed Industries
(NASDAQ:FEED) is one of today's worst performing penny stocks, down 9.5% to
$0.57 on 0.4x average daily volume.Thus far! today, AgFeed Industries has traded
210,000 shares, vs. average volume of 562,000 shares per day. The company traded
222,000 shares yesterday. AgFeed Industries share prices have moved between a
52-week high of $3.44 and a 52-week low of $0.37 and are now trading 54% above
that low price at $0.57 per share. The 200-day and 50-day moving averages have
moved 1.94% lower and 2.87% lower over the past week, respectively.
AgFeed Industries, Inc. produces and sells additive pre mix and piglet blending
feeds to China's domestic animal markets.
SmarTrend is tracking the current trend status for AgFeed Industries and will
alert subscribers who have FEED in their portfolio or watchlist when shares have
changed trend direction.
Write to Chip Brian at cbrian@mysmartrend.com
---------------------------------------------------------------------------------------------
SmarTrend analyzes over 5,000 securities simultaneously t! hroughout the trading
day and provides its subscribers with trend c hange alerts in real time. To get a
free trial of our trading calls and maximize your trading results, please visit
http://www.MySmarTrend.com
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Copyright, Comtex News Network, Inc. 2011
-0-
It's heating up, but be careful out there:)
I think I have one to add to our list!
Hope your doing well!
News for 'FEED' - (Hot Stock: AgFeed Industries, Shares Drop 0.0% (FEED))
Nov 02, 2011 (SmarTrend(R) Spotlight via COMTEX) -- AgFeed Industries
(NASDAQ:FEED) is one of today's worst performing penny stocks, down 0.0% to
$0.61 on 0.3x average daily volume.Thus far today, AgFeed Industries has tr! aded
201,000 shares, vs. average volume of 598,000 shares per day. The company traded
265,000 shares yesterday. AgFeed Industries, Inc. produces and sells additive
pre mix and piglet blending feeds to China's domestic animal markets.
AgFeed Industries share prices have moved between a 52-week high of $3.44 and a
52-week low of $0.37 and are now trading 65% above that low price at $0.61 per
share. The 200-day and 50-day moving averages have moved 2.49% lower and 2.55%
lower over the past week, respectively.
SmarTrend is tracking the current trend status for AgFeed Industries and will
alert subscribers who have FEED in their portfolio or watchlist when shares have
changed trend direction.
Write to Chip Brian at cbrian@mysmartrend.com
---------------------------------------------------------------------------------------------
SmarTrend analyzes over 5,000 securities simultaneously throughout the trading
day and! provides its subscribers with trend change alerts in real time. To ge t a
free trial of our trading calls and maximize your trading results, please visit
http://www.MySmarTrend.com
Get exclusive, actionable insight into how the market is expected to trend prior
to market open with our free morning newsletter. Sign up at:
http://www.MySmarTrend.com/signup
Copyright, Comtex News Network, Inc. 2011
-0-
morning, who's got the next doubler?
this one might have an upward trend here?
CYBERDEFENDER CORPORATION - Sale price rose to 0.8500