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Strategic American Oil Successfully Drills Well in Trinity Bay
HOUSTON, March 8, 2012 (GLOBE NEWSWIRE) -- Strategic American Oil Corporation (OTCBB:SGCA.OB - News) announced today that it has successfully drilled the ST 9-12A #4, its first well in the Fishers Reef Field in Trinity Bay, TX to the target depth of 9,720 feet. Based upon analysis of open hole and field data, the Company has decided to complete the well and ready it for production.
The target geological interval is referred to as the Tex II Sand and is in the lower part of the overall Frio trend which has been one of the most prolific productive intervals along the Texas Gulf Coast. According to open-hole log evaluation and core analysis, the ST9-12A #4 encountered approximately 50 feet of gross pay resulting in 44 feet of net pay capable of producing hydrocarbons. The well encountered the productive horizon in a favorable structural position as originally predicted.
"The successful drilling of this well represents a major milestone in our operational plans for the fields in Trinity Bay and Galveston Bay. We are strongly encouraged by what we see and look forward to releasing the production results once obtained," noted Jeremy G. Driver, President and Chief Executive Officer of Strategic American Oil Corporation.
Strategic American Oil Corporation operates the Fishers Reef Field in Trinity Bay, Texas, including the ST 9-12A #4 well through its wholly-owned subsidiary Galveston Bay Energy LLC ("GBE"). GBE retained 25% of the working interest in the well after conveying 75% to financial and industry partners.
The Company will release production data and other updates regarding this new well in future press releases.
HDY Word of Big News Coming!
HDY-2.87-3.23 TODAY!
Reports of hittin big and tankers enroute! Keep posted
Oil Prices Start to Rally -- Hyperdynamics and RAM Energy Resources Poised to Benefit
NEW YORK, NY--(Marketwire -01/18/12)- After a sluggish start to the New Year, oil prices are starting to increase. Christopher Bellew, a senior broker at Jefferies Bache Ltd. in London, told Bloomberg that oil could continue to surge, as "supply worries in Iran and Nigeria combined with the recovering U.S. economy and demand from developing markets" drive prices. Five Star Equities examines investing opportunities in the Oil & Gas Sector and provides stock research on Hyperdymanics Corporation (NYSE: HDY - News) and RAM Energy Resources, Inc.
Earlier this week the Organization of Petroleum Exporting Countries (OPEC) kept its forecast for 2012 oil demand unchanged, while warning that Europe's could reduce international demand. OPEC warns that if Europe's turmoil "were to worsen, the effect on the oil market could be seen not only through a further decline in oil demand in Europe, but also with spillover effects on oil demand in the emerging economies."
OPEC maintained its prediction for production outside the organization in 2012 at 53.1 million barrels a day, Bloomberg reports. This represents an annual increase of about 700,000 barrels a day, driven by growth in the United States and Canada.
Five Star Equities releases regular market updates on the Oil & Gas Sector so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at www.fivestarequities.com and get exclusive access to our numerous stock reports and industry newsletters.
The US Energy Information Administration (EIA) says that it anticipates the price of West Texas Intermediate (WTI) crude oil to average about $100 per barrel in 2012, $5 per barrel higher than the average price last year. For 2013, the EIA expects WTI prices to continue to rise, reaching $106 per barrel in the fourth quarter of next year.
In the natural gas space, the EIA notes that working inventories continue to set new record highs and ended December 2011 at an estimated 3.5 trillion cubic feet (Tcf), about 12 percent above the same time last year.
HDY= The next 10 Bagger!
HDY-$3.13
Bout to strike it big! Keep posted
HDY ABOUT TO HIT THE MOTHER LOAD!
SGCA Bumps up Producton
Wanted to share this article with everyone on the board.
SGCA- .08
Strategic American Oil Adds Production in North Point Bolivar Field
HOUSTON, Jan. 10, 2012 (GLOBE NEWSWIRE) -- Strategic American Oil Corporation (OTCBB:SGCA.OB - News) announced today that it has successfully reworked and increased production from its State Tract 343 No.18 well located in the North Point Bolivar Field in Galveston Bay, Texas.
After the rework operation, well production has more than doubled its original daily rate, resulting in additional monthly revenue of approximately $30,000 to the Company. The Company has many more wells awaiting recompletion or rework and is already executing its plan to bring on the latent production.
Management believes the plan should increase the Company's production beyond 1,000 barrels of oil equivalent per day (boepd) by the end of 2012. This is in addition to any production increases from drilling and acquisitions, which alone have the potential to far surpass this goal.
"This is yet another example of the abundant low hanging fruit we have internally, apart from our larger drilling projects and acquisition opportunities. This operation, although relatively small, will pay for itself in a matter of weeks and is expected to produce for many years, underscoring our strategy of pursuing projects that have attractive returns on investment," noted Jeremy G. Driver, President and Chief Executive Officer of Strategic American Oil Corporation.
Strategic American Oil will continue to provide updates pertaining to its development programs as information becomes available.
About Strategic American Oil
Strategic American Oil Corporation (OTCBB:SGCA.OB - News) is a growth stage oil and natural gas exploration and production company with operations in Texas, Louisiana, and Illinois. The Company's team of geologists, engineers, and executives leverage 3D seismic data and other proven exploration and production technologies to locate and produce oil and natural gas in new and underexplored areas. The Company seeks accretive acquisitions of production, reserves, or other companies that will provide significant growth potential.
With this impressive news I see some good growth in near future!
Strategic American Oil Increases Production!
SGCA- .08
Strategic American Oil Adds Production in North Point Bolivar Field
HOUSTON, Jan. 10, 2012 (GLOBE NEWSWIRE) -- Strategic American Oil Corporation (OTCBB:SGCA.OB - News) announced today that it has successfully reworked and increased production from its State Tract 343 No.18 well located in the North Point Bolivar Field in Galveston Bay, Texas.
After the rework operation, well production has more than doubled its original daily rate, resulting in additional monthly revenue of approximately $30,000 to the Company. The Company has many more wells awaiting recompletion or rework and is already executing its plan to bring on the latent production.
Management believes the plan should increase the Company's production beyond 1,000 barrels of oil equivalent per day (boepd) by the end of 2012. This is in addition to any production increases from drilling and acquisitions, which alone have the potential to far surpass this goal.
"This is yet another example of the abundant low hanging fruit we have internally, apart from our larger drilling projects and acquisition opportunities. This operation, although relatively small, will pay for itself in a matter of weeks and is expected to produce for many years, underscoring our strategy of pursuing projects that have attractive returns on investment," noted Jeremy G. Driver, President and Chief Executive Officer of Strategic American Oil Corporation.
Strategic American Oil will continue to provide updates pertaining to its development programs as information becomes available.
About Strategic American Oil
Strategic American Oil Corporation (OTCBB:SGCA.OB - News) is a growth stage oil and natural gas exploration and production company with operations in Texas, Louisiana, and Illinois. The Company's team of geologists, engineers, and executives leverage 3D seismic data and other proven exploration and production technologies to locate and produce oil and natural gas in new and underexplored areas. The Company seeks accretive acquisitions of production, reserves, or other companies that will provide significant growth potential.
AMEX Listing Coming
LEAGUE CITY, TX--(Marketwire -12/12/11)- ERF Wireless (OTC.BB: ERFB.OB - News), a leading provider of enterprise-class wireless and broadband products and services, announced today that senior banking executive Thomas Wiedebush has become the newest member of the ERF Wireless Board of Directors.
"Tom has an exceptional track record in the banking industry and has demonstrated vision and leadership throughout his career, with particular emphasis on strategic planning, business development and acquisition integration," said Dr. H. Dean Cubley, CEO of ERF Wireless. "We believe his presence on our Board will give the company added depth in developing the business and financial strategies that will help accelerate the growth ERF Wireless has been experiencing over the past several months in our oil and gas sector business. We also believe his extensive marketing and customer relations insights in the banking community will give our Enterprise Network Services team valuable guidance in expanding our existing banking customer networks as well as acquiring new regional financial institution customers."
Mr. Wiedebush's impressive resume includes serving as Chief Operating Officer of Stearns Financial Services, a $1 billion diversified financial organization, and as Group Executive - Western Region of Marquette Banks, a $6 billion bank with operations in eight states.
Dr. Cubley went on to note that Mr. Wiedebush is the second of three independent directors required prior to submitting a listing application to either the AMEX or NASDAQ Exchange. Once a third independent director is found and the other listing requirements are achieved, ERF Wireless will apply to operate on a major securities exchange, a move expected to significantly improve the liquidity of its common stock and give stockholders the best opportunity for value appreciation. The company anticipates these conditions could be met in early 2012.
About ERF Wireless
ERF Wireless Inc. is a fully reporting public corporation located in League City, Texas, and is the parent company of Energy Broadband, Inc., ERF Enterprise Network Services, ERF Bundled Wireless Services, ERF Wireless Messaging Services and ERF Network Services. The company specializes in providing wireless and broadband product and service solutions to enterprise, commercial and residential clients on a regional, national and international basis. Its principals have been in the wireless broadband, network integration, triple-play FTTH, IPTV and content delivery business for more than 40 years.
AMEX Listing Coming
LEAGUE CITY, TX--(Marketwire -12/12/11)- ERF Wireless (OTC.BB: ERFB.OB - News), a leading provider of enterprise-class wireless and broadband products and services, announced today that senior banking executive Thomas Wiedebush has become the newest member of the ERF Wireless Board of Directors.
"Tom has an exceptional track record in the banking industry and has demonstrated vision and leadership throughout his career, with particular emphasis on strategic planning, business development and acquisition integration," said Dr. H. Dean Cubley, CEO of ERF Wireless. "We believe his presence on our Board will give the company added depth in developing the business and financial strategies that will help accelerate the growth ERF Wireless has been experiencing over the past several months in our oil and gas sector business. We also believe his extensive marketing and customer relations insights in the banking community will give our Enterprise Network Services team valuable guidance in expanding our existing banking customer networks as well as acquiring new regional financial institution customers."
Mr. Wiedebush's impressive resume includes serving as Chief Operating Officer of Stearns Financial Services, a $1 billion diversified financial organization, and as Group Executive - Western Region of Marquette Banks, a $6 billion bank with operations in eight states.
Dr. Cubley went on to note that Mr. Wiedebush is the second of three independent directors required prior to submitting a listing application to either the AMEX or NASDAQ Exchange. Once a third independent director is found and the other listing requirements are achieved, ERF Wireless will apply to operate on a major securities exchange, a move expected to significantly improve the liquidity of its common stock and give stockholders the best opportunity for value appreciation. The company anticipates these conditions could be met in early 2012.
About ERF Wireless
ERF Wireless Inc. is a fully reporting public corporation located in League City, Texas, and is the parent company of Energy Broadband, Inc., ERF Enterprise Network Services, ERF Bundled Wireless Services, ERF Wireless Messaging Services and ERF Network Services. The company specializes in providing wireless and broadband product and service solutions to enterprise, commercial and residential clients on a regional, national and international basis. Its principals have been in the wireless broadband, network integration, triple-play FTTH, IPTV and content delivery business for more than 40 years.
ERF Wireless Reports 51% Increase in Quarterly Revenues and 129% Increase in Quarterly Gross Profit as Compared to the Same 2010 Period
LEAGUE CITY, TX--(Marketwire -11/21/11)- ERF Wireless (OTC.BB: ERFB.OB - News), a leading provider of enterprise-class wireless and broadband products and services, announced today that the company has filed its Form 10-Q with the Securities and Exchange Commission reporting results for the third quarter ended September 30, 2011. The company reported quarterly revenues of $1,331,000 for the three-month period ended September 30, 2011, as compared to $882,000 in revenues for the three-month period ended September 30, 2010; an increase of $449,000 or 51%.
The quarterly results also included a Gross Profit improvement of 129% for the current quarter result as compared to the prior year quarter, with Gross Profit Margins increasing to 33% for the current quarter from 21% for the prior year quarter. Net losses were $1,339,000 and $2,329,000, respectively for the three- and nine-month periods ended September 30, 2011, as compared to net losses of $2,296,000 and $6,230,000 for the prior year three- and nine-month periods ended September 30, 2010. The nine-month period ended September 30, 2011, included a one-time gain of $1,176,000 associated with the divestiture of certain non-core wireless broadband assets and operations. Adjusted EBITDA losses, as defined below, excluding the one-time gain, were $423,000 and $458,000, respectively for the three- and nine-month periods ended September 30, 2011, as compared to Adjusted EBITDA losses of $818,000 and $2,568,000 respectively for the same prior year reporting periods ended September 30, 2010; or Adjusted EBITDA improvements of $3,959,000 and $2,110,000 respectively when compared to the prior year three- and nine-month periods ended September 30, 2010. Including the one-time gain on divestiture, the Company posted Positive Adjusted EBITDA of $718,000 for the nine-month period ended September 30, 2011, as compared to an Adjusted EBITDA Loss of $2,568,000 for the nine-month period ended September 30, 2010, or an Adjusted EBITDA improvement of $3,286,000.
Richard Royall, CFO of ERF Wireless, commented, "During the third quarter of 2011, we continued to generate substantial growth in the oil and gas sector and have dramatically improved our overall financial condition since fiscal year end, including 182% increase in net sales for our oil and gas subsidiary Energy Broadband Inc. for the quarter ended September 30, 2011. We also achieved a $1.5 million improvement in our liquidity position and a $1.1 million improvement in our Shareholders' Equity for the nine-month period ended September 30, 2011. Lastly, we retired some $1.5 million in certain debt and capital leases in the first nine months of 2011, resulting in an overall $1.1 million decrease in current liabilities and an increase of $0.4 million in current assets."
Dr. H. Dean Cubley, CEO of ERF Wireless, commented, "During the quarter and nine-month period ended September 30, 2011, we continued to experience dramatic improvements in our financial and operational results, including a 200% increase in revenues for the nine-month period ended September 30, 2011, in our oil and gas Energy Broadband subsidiary as compared to the same prior year nine-month period in 2010." Dr. Cubley added, "The results have paved the way for our recently announced closing of a $3 Million debt financing with Dakota Capital Fund LLC that will allow us to expand our operational footprint in active oil and gas drilling regions in preparation for additional increases being experienced in the oil and gas industry. Given the foundation that we have put in place during the last two years, along with recent new contract wins with major oil and gas producers, we expect to begin realizing substantially more recurring wireless circuit, construction and services revenues from all of our oil and gas contracts for the balance of calendar year 2011 and into calendar 2012."
The Company's financial condition improved dramatically as compared to the most recent fiscal year ended December 31, 2010, and the prior year same quarterly and nine-month reporting period ended September 30, 2010, including, but not limited to, the following attributes:
The Company reported revenues of $1,331,000 for the quarter ended September 30, 2011, as compared to revenues of $882,000 for the same prior year quarter ended September 30, 2010; an increase of $449,000 or 51%.
The Company reported a net loss applicable to common shareholders of $1,348,000 for the quarter ended September 30, 2011, as compared to a net loss to applicable to common shareholders of $2,296,000 for the same prior quarter ended September 30, 2010; an improvement of $948,000 or 41%.
The Company's Energy Broadband, Inc. subsidiary reported revenues of $709,000 for the quarter ended September 30, 2011, as compared to revenues of $251,000 for the same prior year quarter ended September 30, 2010; an increase of $458,000 or 182%.
The Company reported a reduction of $459,000 or 23% decline in operating expenses in the quarter ended September 30, 2011, as compared to the same prior year quarter ended September 30, 2010.
The Company reported revenues of $3,772,000 for the nine-month period ended September 30, 2011, as compared to revenues of $2,817,000 for the same prior year nine-month period ended September 30, 2010; an increase of $955,000 or 34%.
The Company reported a net loss applicable to common stock holders of $2,341,000 for the nine-month period ended September 30, 2011, as compared to a net loss applicable to common stock holders of $6,230,000 for the same prior year nine-month period ended September 30, 2010; an improvement of $3,889,000 or 62%.
The Company's Energy Broadband, Inc. subsidiary reported revenues of $1,887,000 for the nine-month period ended September 30, 2011, as compared to revenues of $629,000 for the same prior year nine-month period ended September 30, 2010; an increase of $1,258,000 or 200%.
The Company reported a reduction of $1,522,000 or 26% decline in operating expenses in the nine-month period ended September 30, 2011, as compared to the same prior year nine-month period ended September 30, 2010.
The Company's liquidity position improved by $1,545,000 for the nine-month period ended September 30, 2011, as compared to the most recent balance sheet at fiscal year ended December 31, 2010; including a $448,000 increase in Current Assets, a $1,097,000 decrease in Current Liabilities that included $1,536,000 retirement of long-term debt and capital lease obligations.
Lastly, the Company invested $1,616,000 in cash during the nine-month period ended September 30, 2011, primarily for the purchase of assets in its Energy Broadband, Inc. subsidiary for the continued expansion of networks and infrastructure, including increasing its Mobil Broadband Trailer, ("MBT") fleet associated with the increased oil and gas business growth being experienced.
Recent Events
During and subsequent to the third quarter ended September 30, 2011, the company continued to make progress with its strategic business plan as evidenced by the completion and announcement of numerous significant agreements and activities. These include:
The Company announced that it has secured $3,000,000 in debt financing from Dakota Capital Fund LLC. The funding will be utilized by the Company to quickly expand its Energy Broadband subsidiary's presence in the major oil and gas exploration regions of North America.
The Company announced that it had finalized the requirements for the Energy Broadband Stock Dividend.
The Company's stock now trades under the symbol ERFB.OB.
The Company announced that its patent attorney received correspondence from the U.S. Patent Office that a third patent for the CryptoVue® encrypted security device has been approved and that a patent will be issued as soon as the proper forms are submitted.
The Company announced that its Enterprise Network Services (ENS) division has been actively working with its existing banking network customers in Texas and Louisiana to meet their needs for expanded and upgraded services, including the addition of new service areas. ENS recently completed the addition of one new branch for one bank customer and is now in the process of finalizing plans for the addition of four to eight branches for two other bank customers.
The Company announced that it had been ranked number 337 on the Deloitte's 2011 Technology Fast 500, an annual ranking by Deloitte LLP of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America.
The Company announced that in an expanded effort to create greater awareness about the company's recent significant developments, including the increase in its oil and gas business activities and related revenue increases, it has retained the services of Investor Awareness, Inc. as its new investor relations firm.
About ERF Wireless
ERF Wireless Inc. is a fully reporting public corporation located in League City, Texas, and is the parent company of Energy Broadband Inc., ERF Enterprise Network Services, ERF Bundled Wireless Services, ERF Wireless Messaging Services and ERF Network Services. The company specializes in providing wireless and broadband product and service solutions to enterprise, commercial and residential clients on a regional, national and international basis. Its principals have been in the wireless broadband, network integration, triple-play FTTH, IPTV and content delivery business for more than 40 years. For more information, please visit our websites at www.erfwireless.com and www.erfwireless.net or call 281-538-2101. (ERFB)
The company refers in this press release to a non-GAAP financial measure called Adjusted EBITDA for illustration purposes because of management's belief that this measure is a financial indicator of the company's ability to internally generate operating cash flow. Adjusted EBITDA is defined as earnings before interest, taxes, depreciation, amortization and stock based compensation expense. Management also believes that this non-GAAP financial measure is useful information to investors because it is widely used by professional research analysts in the valuation and investment recommendation of companies in the company's peer group. Adjusted EBITDA is not utilized in any of the company's SEC filings and should not be considered an alternative to net income, as defined by U.S. GAAP.
ERF Wireless Reports 51% Increase in Quarterly Revenues and 129% Increase in Quarterly Gross Profit as Compared to the Same 2010 Period
LEAGUE CITY, TX--(Marketwire -11/21/11)- ERF Wireless (OTC.BB: ERFB.OB - News), a leading provider of enterprise-class wireless and broadband products and services, announced today that the company has filed its Form 10-Q with the Securities and Exchange Commission reporting results for the third quarter ended September 30, 2011. The company reported quarterly revenues of $1,331,000 for the three-month period ended September 30, 2011, as compared to $882,000 in revenues for the three-month period ended September 30, 2010; an increase of $449,000 or 51%.
The quarterly results also included a Gross Profit improvement of 129% for the current quarter result as compared to the prior year quarter, with Gross Profit Margins increasing to 33% for the current quarter from 21% for the prior year quarter. Net losses were $1,339,000 and $2,329,000, respectively for the three- and nine-month periods ended September 30, 2011, as compared to net losses of $2,296,000 and $6,230,000 for the prior year three- and nine-month periods ended September 30, 2010. The nine-month period ended September 30, 2011, included a one-time gain of $1,176,000 associated with the divestiture of certain non-core wireless broadband assets and operations. Adjusted EBITDA losses, as defined below, excluding the one-time gain, were $423,000 and $458,000, respectively for the three- and nine-month periods ended September 30, 2011, as compared to Adjusted EBITDA losses of $818,000 and $2,568,000 respectively for the same prior year reporting periods ended September 30, 2010; or Adjusted EBITDA improvements of $3,959,000 and $2,110,000 respectively when compared to the prior year three- and nine-month periods ended September 30, 2010. Including the one-time gain on divestiture, the Company posted Positive Adjusted EBITDA of $718,000 for the nine-month period ended September 30, 2011, as compared to an Adjusted EBITDA Loss of $2,568,000 for the nine-month period ended September 30, 2010, or an Adjusted EBITDA improvement of $3,286,000.
Richard Royall, CFO of ERF Wireless, commented, "During the third quarter of 2011, we continued to generate substantial growth in the oil and gas sector and have dramatically improved our overall financial condition since fiscal year end, including 182% increase in net sales for our oil and gas subsidiary Energy Broadband Inc. for the quarter ended September 30, 2011. We also achieved a $1.5 million improvement in our liquidity position and a $1.1 million improvement in our Shareholders' Equity for the nine-month period ended September 30, 2011. Lastly, we retired some $1.5 million in certain debt and capital leases in the first nine months of 2011, resulting in an overall $1.1 million decrease in current liabilities and an increase of $0.4 million in current assets."
Dr. H. Dean Cubley, CEO of ERF Wireless, commented, "During the quarter and nine-month period ended September 30, 2011, we continued to experience dramatic improvements in our financial and operational results, including a 200% increase in revenues for the nine-month period ended September 30, 2011, in our oil and gas Energy Broadband subsidiary as compared to the same prior year nine-month period in 2010." Dr. Cubley added, "The results have paved the way for our recently announced closing of a $3 Million debt financing with Dakota Capital Fund LLC that will allow us to expand our operational footprint in active oil and gas drilling regions in preparation for additional increases being experienced in the oil and gas industry. Given the foundation that we have put in place during the last two years, along with recent new contract wins with major oil and gas producers, we expect to begin realizing substantially more recurring wireless circuit, construction and services revenues from all of our oil and gas contracts for the balance of calendar year 2011 and into calendar 2012."
The Company's financial condition improved dramatically as compared to the most recent fiscal year ended December 31, 2010, and the prior year same quarterly and nine-month reporting period ended September 30, 2010, including, but not limited to, the following attributes:
The Company reported revenues of $1,331,000 for the quarter ended September 30, 2011, as compared to revenues of $882,000 for the same prior year quarter ended September 30, 2010; an increase of $449,000 or 51%.
The Company reported a net loss applicable to common shareholders of $1,348,000 for the quarter ended September 30, 2011, as compared to a net loss to applicable to common shareholders of $2,296,000 for the same prior quarter ended September 30, 2010; an improvement of $948,000 or 41%.
The Company's Energy Broadband, Inc. subsidiary reported revenues of $709,000 for the quarter ended September 30, 2011, as compared to revenues of $251,000 for the same prior year quarter ended September 30, 2010; an increase of $458,000 or 182%.
The Company reported a reduction of $459,000 or 23% decline in operating expenses in the quarter ended September 30, 2011, as compared to the same prior year quarter ended September 30, 2010.
The Company reported revenues of $3,772,000 for the nine-month period ended September 30, 2011, as compared to revenues of $2,817,000 for the same prior year nine-month period ended September 30, 2010; an increase of $955,000 or 34%.
The Company reported a net loss applicable to common stock holders of $2,341,000 for the nine-month period ended September 30, 2011, as compared to a net loss applicable to common stock holders of $6,230,000 for the same prior year nine-month period ended September 30, 2010; an improvement of $3,889,000 or 62%.
The Company's Energy Broadband, Inc. subsidiary reported revenues of $1,887,000 for the nine-month period ended September 30, 2011, as compared to revenues of $629,000 for the same prior year nine-month period ended September 30, 2010; an increase of $1,258,000 or 200%.
The Company reported a reduction of $1,522,000 or 26% decline in operating expenses in the nine-month period ended September 30, 2011, as compared to the same prior year nine-month period ended September 30, 2010.
The Company's liquidity position improved by $1,545,000 for the nine-month period ended September 30, 2011, as compared to the most recent balance sheet at fiscal year ended December 31, 2010; including a $448,000 increase in Current Assets, a $1,097,000 decrease in Current Liabilities that included $1,536,000 retirement of long-term debt and capital lease obligations.
Lastly, the Company invested $1,616,000 in cash during the nine-month period ended September 30, 2011, primarily for the purchase of assets in its Energy Broadband, Inc. subsidiary for the continued expansion of networks and infrastructure, including increasing its Mobil Broadband Trailer, ("MBT") fleet associated with the increased oil and gas business growth being experienced.
Recent Events
During and subsequent to the third quarter ended September 30, 2011, the company continued to make progress with its strategic business plan as evidenced by the completion and announcement of numerous significant agreements and activities. These include:
The Company announced that it has secured $3,000,000 in debt financing from Dakota Capital Fund LLC. The funding will be utilized by the Company to quickly expand its Energy Broadband subsidiary's presence in the major oil and gas exploration regions of North America.
The Company announced that it had finalized the requirements for the Energy Broadband Stock Dividend.
The Company's stock now trades under the symbol ERFB.OB.
The Company announced that its patent attorney received correspondence from the U.S. Patent Office that a third patent for the CryptoVue® encrypted security device has been approved and that a patent will be issued as soon as the proper forms are submitted.
The Company announced that its Enterprise Network Services (ENS) division has been actively working with its existing banking network customers in Texas and Louisiana to meet their needs for expanded and upgraded services, including the addition of new service areas. ENS recently completed the addition of one new branch for one bank customer and is now in the process of finalizing plans for the addition of four to eight branches for two other bank customers.
The Company announced that it had been ranked number 337 on the Deloitte's 2011 Technology Fast 500, an annual ranking by Deloitte LLP of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America.
The Company announced that in an expanded effort to create greater awareness about the company's recent significant developments, including the increase in its oil and gas business activities and related revenue increases, it has retained the services of Investor Awareness, Inc. as its new investor relations firm.
About ERF Wireless
ERF Wireless Inc. is a fully reporting public corporation located in League City, Texas, and is the parent company of Energy Broadband Inc., ERF Enterprise Network Services, ERF Bundled Wireless Services, ERF Wireless Messaging Services and ERF Network Services. The company specializes in providing wireless and broadband product and service solutions to enterprise, commercial and residential clients on a regional, national and international basis. Its principals have been in the wireless broadband, network integration, triple-play FTTH, IPTV and content delivery business for more than 40 years. For more information, please visit our websites at www.erfwireless.com and www.erfwireless.net or call 281-538-2101. (ERFB)
The company refers in this press release to a non-GAAP financial measure called Adjusted EBITDA for illustration purposes because of management's belief that this measure is a financial indicator of the company's ability to internally generate operating cash flow. Adjusted EBITDA is defined as earnings before interest, taxes, depreciation, amortization and stock based compensation expense. Management also believes that this non-GAAP financial measure is useful information to investors because it is widely used by professional research analysts in the valuation and investment recommendation of companies in the company's peer group. Adjusted EBITDA is not utilized in any of the company's SEC filings and should not be considered an alternative to net income, as defined by U.S. GAAP.
ERF Wireless Reports 51% Increase in Quarterly Revenues and 129% Increase in Quarterly Gross Profit as Compared to the Same 2010 Period
LEAGUE CITY, TX--(Marketwire -11/21/11)- ERF Wireless (OTC.BB: ERFB.OB - News), a leading provider of enterprise-class wireless and broadband products and services, announced today that the company has filed its Form 10-Q with the Securities and Exchange Commission reporting results for the third quarter ended September 30, 2011. The company reported quarterly revenues of $1,331,000 for the three-month period ended September 30, 2011, as compared to $882,000 in revenues for the three-month period ended September 30, 2010; an increase of $449,000 or 51%.
The quarterly results also included a Gross Profit improvement of 129% for the current quarter result as compared to the prior year quarter, with Gross Profit Margins increasing to 33% for the current quarter from 21% for the prior year quarter. Net losses were $1,339,000 and $2,329,000, respectively for the three- and nine-month periods ended September 30, 2011, as compared to net losses of $2,296,000 and $6,230,000 for the prior year three- and nine-month periods ended September 30, 2010. The nine-month period ended September 30, 2011, included a one-time gain of $1,176,000 associated with the divestiture of certain non-core wireless broadband assets and operations. Adjusted EBITDA losses, as defined below, excluding the one-time gain, were $423,000 and $458,000, respectively for the three- and nine-month periods ended September 30, 2011, as compared to Adjusted EBITDA losses of $818,000 and $2,568,000 respectively for the same prior year reporting periods ended September 30, 2010; or Adjusted EBITDA improvements of $3,959,000 and $2,110,000 respectively when compared to the prior year three- and nine-month periods ended September 30, 2010. Including the one-time gain on divestiture, the Company posted Positive Adjusted EBITDA of $718,000 for the nine-month period ended September 30, 2011, as compared to an Adjusted EBITDA Loss of $2,568,000 for the nine-month period ended September 30, 2010, or an Adjusted EBITDA improvement of $3,286,000.
Richard Royall, CFO of ERF Wireless, commented, "During the third quarter of 2011, we continued to generate substantial growth in the oil and gas sector and have dramatically improved our overall financial condition since fiscal year end, including 182% increase in net sales for our oil and gas subsidiary Energy Broadband Inc. for the quarter ended September 30, 2011. We also achieved a $1.5 million improvement in our liquidity position and a $1.1 million improvement in our Shareholders' Equity for the nine-month period ended September 30, 2011. Lastly, we retired some $1.5 million in certain debt and capital leases in the first nine months of 2011, resulting in an overall $1.1 million decrease in current liabilities and an increase of $0.4 million in current assets."
Dr. H. Dean Cubley, CEO of ERF Wireless, commented, "During the quarter and nine-month period ended September 30, 2011, we continued to experience dramatic improvements in our financial and operational results, including a 200% increase in revenues for the nine-month period ended September 30, 2011, in our oil and gas Energy Broadband subsidiary as compared to the same prior year nine-month period in 2010." Dr. Cubley added, "The results have paved the way for our recently announced closing of a $3 Million debt financing with Dakota Capital Fund LLC that will allow us to expand our operational footprint in active oil and gas drilling regions in preparation for additional increases being experienced in the oil and gas industry. Given the foundation that we have put in place during the last two years, along with recent new contract wins with major oil and gas producers, we expect to begin realizing substantially more recurring wireless circuit, construction and services revenues from all of our oil and gas contracts for the balance of calendar year 2011 and into calendar 2012."
The Company's financial condition improved dramatically as compared to the most recent fiscal year ended December 31, 2010, and the prior year same quarterly and nine-month reporting period ended September 30, 2010, including, but not limited to, the following attributes:
The Company reported revenues of $1,331,000 for the quarter ended September 30, 2011, as compared to revenues of $882,000 for the same prior year quarter ended September 30, 2010; an increase of $449,000 or 51%.
The Company reported a net loss applicable to common shareholders of $1,348,000 for the quarter ended September 30, 2011, as compared to a net loss to applicable to common shareholders of $2,296,000 for the same prior quarter ended September 30, 2010; an improvement of $948,000 or 41%.
The Company's Energy Broadband, Inc. subsidiary reported revenues of $709,000 for the quarter ended September 30, 2011, as compared to revenues of $251,000 for the same prior year quarter ended September 30, 2010; an increase of $458,000 or 182%.
The Company reported a reduction of $459,000 or 23% decline in operating expenses in the quarter ended September 30, 2011, as compared to the same prior year quarter ended September 30, 2010.
The Company reported revenues of $3,772,000 for the nine-month period ended September 30, 2011, as compared to revenues of $2,817,000 for the same prior year nine-month period ended September 30, 2010; an increase of $955,000 or 34%.
The Company reported a net loss applicable to common stock holders of $2,341,000 for the nine-month period ended September 30, 2011, as compared to a net loss applicable to common stock holders of $6,230,000 for the same prior year nine-month period ended September 30, 2010; an improvement of $3,889,000 or 62%.
The Company's Energy Broadband, Inc. subsidiary reported revenues of $1,887,000 for the nine-month period ended September 30, 2011, as compared to revenues of $629,000 for the same prior year nine-month period ended September 30, 2010; an increase of $1,258,000 or 200%.
The Company reported a reduction of $1,522,000 or 26% decline in operating expenses in the nine-month period ended September 30, 2011, as compared to the same prior year nine-month period ended September 30, 2010.
The Company's liquidity position improved by $1,545,000 for the nine-month period ended September 30, 2011, as compared to the most recent balance sheet at fiscal year ended December 31, 2010; including a $448,000 increase in Current Assets, a $1,097,000 decrease in Current Liabilities that included $1,536,000 retirement of long-term debt and capital lease obligations.
Lastly, the Company invested $1,616,000 in cash during the nine-month period ended September 30, 2011, primarily for the purchase of assets in its Energy Broadband, Inc. subsidiary for the continued expansion of networks and infrastructure, including increasing its Mobil Broadband Trailer, ("MBT") fleet associated with the increased oil and gas business growth being experienced.
Recent Events
During and subsequent to the third quarter ended September 30, 2011, the company continued to make progress with its strategic business plan as evidenced by the completion and announcement of numerous significant agreements and activities. These include:
The Company announced that it has secured $3,000,000 in debt financing from Dakota Capital Fund LLC. The funding will be utilized by the Company to quickly expand its Energy Broadband subsidiary's presence in the major oil and gas exploration regions of North America.
The Company announced that it had finalized the requirements for the Energy Broadband Stock Dividend.
The Company's stock now trades under the symbol ERFB.OB.
The Company announced that its patent attorney received correspondence from the U.S. Patent Office that a third patent for the CryptoVue® encrypted security device has been approved and that a patent will be issued as soon as the proper forms are submitted.
The Company announced that its Enterprise Network Services (ENS) division has been actively working with its existing banking network customers in Texas and Louisiana to meet their needs for expanded and upgraded services, including the addition of new service areas. ENS recently completed the addition of one new branch for one bank customer and is now in the process of finalizing plans for the addition of four to eight branches for two other bank customers.
The Company announced that it had been ranked number 337 on the Deloitte's 2011 Technology Fast 500, an annual ranking by Deloitte LLP of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America.
The Company announced that in an expanded effort to create greater awareness about the company's recent significant developments, including the increase in its oil and gas business activities and related revenue increases, it has retained the services of Investor Awareness, Inc. as its new investor relations firm.
About ERF Wireless
ERF Wireless Inc. is a fully reporting public corporation located in League City, Texas, and is the parent company of Energy Broadband Inc., ERF Enterprise Network Services, ERF Bundled Wireless Services, ERF Wireless Messaging Services and ERF Network Services. The company specializes in providing wireless and broadband product and service solutions to enterprise, commercial and residential clients on a regional, national and international basis. Its principals have been in the wireless broadband, network integration, triple-play FTTH, IPTV and content delivery business for more than 40 years. For more information, please visit our websites at www.erfwireless.com and www.erfwireless.net or call 281-538-2101. (ERFB)
The company refers in this press release to a non-GAAP financial measure called Adjusted EBITDA for illustration purposes because of management's belief that this measure is a financial indicator of the company's ability to internally generate operating cash flow. Adjusted EBITDA is defined as earnings before interest, taxes, depreciation, amortization and stock based compensation expense. Management also believes that this non-GAAP financial measure is useful information to investors because it is widely used by professional research analysts in the valuation and investment recommendation of companies in the company's peer group. Adjusted EBITDA is not utilized in any of the company's SEC filings and should not be considered an alternative to net income, as defined by U.S. GAAP.
SGCA-Strategic American Oil Announces Removal of Auditors
Strategic American Oil Announces Removal of Auditors’ "Going Concern" Opinion
Company Increases Reserves, Revenues, Cash Flow, and Income in Fourth Quarter
Houston, Texas – Nov XX, 2011 – Strategic American Oil Corporation (OTCBB: SGCA) announced today that the “going concern” note has been removed from its audit opinion contained in its recently filed Form 10-K for the year ended July 31, 2011. The annual filing confirms that the Company has increased revenues, cash flow, assets, and cash reserves in 2011 compared to the previous year, as well as quarter over quarter improvement.
Financial Results
Revenues for Q4 were $1.92 million as compared to $1.49 million for the previous three quarters combined. Income from Operations for Q4 was a positive $3,118 as compared to a loss of $8.8 million in the three previous quarters combined. Net loss for Q4 was only $340,000 as compared to $9.95 million for the previous three quarters combined. Net cash used in operations was only $250,000 as compared to $2.02 million in the previous three quarters combined. The Company’s fiscal first quarter ended October 31, 2011, and the corresponding 10Q should be filed within the coming weeks.
"For the first time since the formation of the Company almost 6 years ago, the going concern opinion has been lifted by our independent auditors, reflecting the progress we have made in executing our strategy," noted Jeremy G. Driver, President and Chief Executive Officer of Strategic American Oil Corporation. "The annual 10-K just filed should indicate to any discerning investor the vast improvements both operationally and financially to the Company. Strategic American Oil will continue to increase production, revenues, cash flow, assets, and income. We fully expect our first quarter results will continue this positive trend."
About Strategic American Oil
Strategic American Oil Corporation (OTCBB: SGCA) is a growth stage oil and natural gas exploration and production company with operations in Texas, Louisiana, and Illinois. The Company’s team of geologists, engineers, and executives leverage 3D seismic data and other proven exploration and production technologies to locate and produce oil and natural gas in new and underexplored areas. The Company seeks accretive acquisitions of production, reserves, or other companies that will provide significant growth potential.
SGCA-Strategic American Oil Announces Removal of Auditors
Strategic American Oil Announces Removal of Auditors’ "Going Concern" Opinion
Company Increases Reserves, Revenues, Cash Flow, and Income in Fourth Quarter
Houston, Texas – Nov XX, 2011 – Strategic American Oil Corporation (OTCBB: SGCA) announced today that the “going concern” note has been removed from its audit opinion contained in its recently filed Form 10-K for the year ended July 31, 2011. The annual filing confirms that the Company has increased revenues, cash flow, assets, and cash reserves in 2011 compared to the previous year, as well as quarter over quarter improvement.
Financial Results
Revenues for Q4 were $1.92 million as compared to $1.49 million for the previous three quarters combined. Income from Operations for Q4 was a positive $3,118 as compared to a loss of $8.8 million in the three previous quarters combined. Net loss for Q4 was only $340,000 as compared to $9.95 million for the previous three quarters combined. Net cash used in operations was only $250,000 as compared to $2.02 million in the previous three quarters combined. The Company’s fiscal first quarter ended October 31, 2011, and the corresponding 10Q should be filed within the coming weeks.
"For the first time since the formation of the Company almost 6 years ago, the going concern opinion has been lifted by our independent auditors, reflecting the progress we have made in executing our strategy," noted Jeremy G. Driver, President and Chief Executive Officer of Strategic American Oil Corporation. "The annual 10-K just filed should indicate to any discerning investor the vast improvements both operationally and financially to the Company. Strategic American Oil will continue to increase production, revenues, cash flow, assets, and income. We fully expect our first quarter results will continue this positive trend."
About Strategic American Oil
Strategic American Oil Corporation (OTCBB: SGCA) is a growth stage oil and natural gas exploration and production company with operations in Texas, Louisiana, and Illinois. The Company’s team of geologists, engineers, and executives leverage 3D seismic data and other proven exploration and production technologies to locate and produce oil and natural gas in new and underexplored areas. The Company seeks accretive acquisitions of production, reserves, or other companies that will provide significant growth potential.
Strategic American Oil Announces Removal of Auditors
Strategic American Oil Announces Removal of Auditors’ "Going Concern" Opinion
Company Increases Reserves, Revenues, Cash Flow, and Income in Fourth Quarter
Houston, Texas – Nov XX, 2011 – Strategic American Oil Corporation (OTCBB: SGCA) announced today that the “going concern” note has been removed from its audit opinion contained in its recently filed Form 10-K for the year ended July 31, 2011. The annual filing confirms that the Company has increased revenues, cash flow, assets, and cash reserves in 2011 compared to the previous year, as well as quarter over quarter improvement.
Financial Results
Revenues for Q4 were $1.92 million as compared to $1.49 million for the previous three quarters combined. Income from Operations for Q4 was a positive $3,118 as compared to a loss of $8.8 million in the three previous quarters combined. Net loss for Q4 was only $340,000 as compared to $9.95 million for the previous three quarters combined. Net cash used in operations was only $250,000 as compared to $2.02 million in the previous three quarters combined. The Company’s fiscal first quarter ended October 31, 2011, and the corresponding 10Q should be filed within the coming weeks.
"For the first time since the formation of the Company almost 6 years ago, the going concern opinion has been lifted by our independent auditors, reflecting the progress we have made in executing our strategy," noted Jeremy G. Driver, President and Chief Executive Officer of Strategic American Oil Corporation. "The annual 10-K just filed should indicate to any discerning investor the vast improvements both operationally and financially to the Company. Strategic American Oil will continue to increase production, revenues, cash flow, assets, and income. We fully expect our first quarter results will continue this positive trend."
About Strategic American Oil
Strategic American Oil Corporation (OTCBB: SGCA) is a growth stage oil and natural gas exploration and production company with operations in Texas, Louisiana, and Illinois. The Company’s team of geologists, engineers, and executives leverage 3D seismic data and other proven exploration and production technologies to locate and produce oil and natural gas in new and underexplored areas. The Company seeks accretive acquisitions of production, reserves, or other companies that will provide significant growth potential.
Look Out
1.4 million share float $3.50/SHARE... November December year end is a great time for low float small cap stocks as hedgefunds have their way to make year end practice.. Its documented as they look for high beta names they can have an effect on. This is ONE TO WATCH!!!!!!
ERFB Earnings Monday November 21st 2011.. Radar..
ERFB Earnings Monday November 21st 2011.. Radar..
ERFB Earnings Monday November 21st 2011.. Radar..
ERF Wireless Secures $3,000,000 in Debt Financing
LEAGUE CITY, TX--(Marketwire -11/10/11)- ERF Wireless (OTC.BB: ERFB.OB - News), a leading provider of enterprise-class wireless broadband products and services, announced today that it has finalized and signed the previously announced pure debt financing agreement with Dakota Capital Fund LLC of Sioux Falls, South Dakota, for an initial round of financing of up to $3,000,000. The funding will be utilized by ERF Wireless to quickly expand its Energy Broadband subsidiary's presence in the major oil and gas exploration regions of North America.
The financing package provides for immediate access to $2,000,000 and ERF Wireless has already begun to utilize this increased financial capability to quickly acquire the equipment that is required to expand its customer base and thus the associated revenue stream. Dakota Capital Fund LLC also has the option of funding an additional $1,000,000 within 90 days of October 31, 2011, under the same terms. The financing received under this pure debt credit line is secured by certain ERF Wireless assets and there is no prepayment penalty.
Dr. H. Dean Cubley, CEO of ERF Wireless, commented, "This new Dakota Capital Fund financing comes at an extremely opportune time for accelerating the development of our oil and gas business. Our oil and gas subsidiary, Energy Broadband, has been consistently growing its revenue base each quarter for the past few years and is now ready to take a major step forward with the additional capabilities this financing is providing. Over the next few months we will be continuing our network expansions in all of the major oil and gas regions including opening an office in the Bakken Shale region of North Dakota. Given these expansions, the acquisition of a significant amount of new equipment, our new and expanded product offerings, and most importantly the addition of new customers and additional projects with our existing customers we expect our revenue numbers to soar accordingly."
Dr. Cubley went on to note that the company plans to release a major update on all of the company's oil and gas activities before the end of this year that will detail how these positive events are expected to affect ERF Wireless during 2012.
ERF Wireless Secures $3,000,000 in Debt Financing From Dakota Capital Fund LLC
LEAGUE CITY, TX--(Marketwire -11/10/11)- ERF Wireless (OTC.BB: ERFB.OB - News), a leading provider of enterprise-class wireless broadband products and services, announced today that it has finalized and signed the previously announced pure debt financing agreement with Dakota Capital Fund LLC of Sioux Falls, South Dakota, for an initial round of financing of up to $3,000,000. The funding will be utilized by ERF Wireless to quickly expand its Energy Broadband subsidiary's presence in the major oil and gas exploration regions of North America.
The financing package provides for immediate access to $2,000,000 and ERF Wireless has already begun to utilize this increased financial capability to quickly acquire the equipment that is required to expand its customer base and thus the associated revenue stream. Dakota Capital Fund LLC also has the option of funding an additional $1,000,000 within 90 days of October 31, 2011, under the same terms. The financing received under this pure debt credit line is secured by certain ERF Wireless assets and there is no prepayment penalty.
Dr. H. Dean Cubley, CEO of ERF Wireless, commented, "This new Dakota Capital Fund financing comes at an extremely opportune time for accelerating the development of our oil and gas business. Our oil and gas subsidiary, Energy Broadband, has been consistently growing its revenue base each quarter for the past few years and is now ready to take a major step forward with the additional capabilities this financing is providing. Over the next few months we will be continuing our network expansions in all of the major oil and gas regions including opening an office in the Bakken Shale region of North Dakota. Given these expansions, the acquisition of a significant amount of new equipment, our new and expanded product offerings, and most importantly the addition of new customers and additional projects with our existing customers we expect our revenue numbers to soar accordingly."
Dr. Cubley went on to note that the company plans to release a major update on all of the company's oil and gas activities before the end of this year that will detail how these positive events are expected to affect ERF Wireless during 2012.
ERF Wireless Secures $3,000,000 in Debt Financing From Dakota Capital Fund LLC
LEAGUE CITY, TX--(Marketwire -11/10/11)- ERF Wireless (OTC.BB: ERFB.OB - News), a leading provider of enterprise-class wireless broadband products and services, announced today that it has finalized and signed the previously announced pure debt financing agreement with Dakota Capital Fund LLC of Sioux Falls, South Dakota, for an initial round of financing of up to $3,000,000. The funding will be utilized by ERF Wireless to quickly expand its Energy Broadband subsidiary's presence in the major oil and gas exploration regions of North America.
The financing package provides for immediate access to $2,000,000 and ERF Wireless has already begun to utilize this increased financial capability to quickly acquire the equipment that is required to expand its customer base and thus the associated revenue stream. Dakota Capital Fund LLC also has the option of funding an additional $1,000,000 within 90 days of October 31, 2011, under the same terms. The financing received under this pure debt credit line is secured by certain ERF Wireless assets and there is no prepayment penalty.
Dr. H. Dean Cubley, CEO of ERF Wireless, commented, "This new Dakota Capital Fund financing comes at an extremely opportune time for accelerating the development of our oil and gas business. Our oil and gas subsidiary, Energy Broadband, has been consistently growing its revenue base each quarter for the past few years and is now ready to take a major step forward with the additional capabilities this financing is providing. Over the next few months we will be continuing our network expansions in all of the major oil and gas regions including opening an office in the Bakken Shale region of North Dakota. Given these expansions, the acquisition of a significant amount of new equipment, our new and expanded product offerings, and most importantly the addition of new customers and additional projects with our existing customers we expect our revenue numbers to soar accordingly."
Dr. Cubley went on to note that the company plans to release a major update on all of the company's oil and gas activities before the end of this year that will detail how these positive events are expected to affect ERF Wireless during 2012.
Energy Industry Boom Fuels Growth at ERF Wireless
Wireless Provider Taps Vertical Markets
As a wireless communications company boasting a 212% YoY growth in revenue, ERF Wireless stands out as a success story in today's difficult and competitive market. The key to the company's business plan lies in something we've been highlighting for a while: the power of vertical markets. According to ERF founder and ceo Dr. Dean Cubley, the company's strength is its diversified business, which supplies high-capacity wireless services to three main sectors—WISP services for rural business and residential customers, secure wireless communications services for the banking industry, and “nomadic communications solutions” for the energy industry. With this model, Cubley says growth in one sector can counter stagnation in another sector. Right now, ERF's sustained commitment to providing wireless communications services for the energy industry has allowed ERF to be profitable over the last two to three years. When so many other companies are reporting losses and laying off employees, Cubley says ERF is “just having a hard time keeping up with all of the business.”
Cubley founded ERF back in 2004, after decades in the wireless industry. Since then ERF has acquired 16 companies—mostly wireless companies in rural areas and, most recently, in oil and gas producing regions. Now, Cubley says, “anywhere there's oil and gas, we're interested in networks there.” Not only can ERF supply wireless to the energy companies, but as people come into the regions, rural banks and rural customers also look for services, which ERF can supply off of the same networks. “We use a little bit of everything: licensed spectrum, unlicensed spectrum, and what we use depends where we are,” Cubley said. The company uses 6 GHz licensed spectrum on the backbone, typically, but also uses 3.65 GHz in rural areas if there is interference on unlicensed spectrum.
Based in League City, Texas, ERF is well-positioned, geographically, to grow alongside the booming oil and natural gas industry. The nearby Permian Basin spans from west Texas into New Mexico and represents one of the largest oil and natural gas fields in the country. It's a 55-county area where the number of oil rigs has tripled in the last two years, where oil companies have rented hotel rooms a year in advance for their employees, and where the need for manpower seems insatiable. This surge in production and influx of people brings with it the need for wireless connectivity, both for day-to-day business operations and for personal communications. “Our customers operate in very remote areas,” Cubley says, “where it can be a hundred miles or more to the nearest landline, with no towers for wireless connections.” This is where ERF comes in, as a close partner supplying communications services to the oil and gas companies.
ERF operates about 150-200 mobile broadband trailers, each equipped with a 50-foot tower that can be erected by a technician. The trailers can be driven to any remote drilling site and, by connecting back to the company's network, enable powerful high-bandwidth, low-latency wireless broadband in any location. In the past, Cubley says that communications “had been provided by VSATs (satellite), but software designers have developed programs that will not run over VSAT. They [the programs used by oil and gas companies] need high capacity and low latency, and we can provide that kind of system at the same cost as a VSAT.”
Right now, ERF provides this “nomadic solution” in the Southwest and southern Midwest, but Cubley says ERF is opening an office in North Dakota next month. The Williston Basin region of the Dakotas is enjoying a similar (but more recent) energy industry boom, and Cubley said ERF's plan there is to build their own network. “We will be one of the first WISP networks in the area,” Cubley said, “and we chose to build our own network since there are none in the area to buy.”
Cubley said that ERF's business strategy has been to buy and then improve small wireless networks in rural areas—tapping into new sectors of business that can make the networks profitable again. “We can buy a company that is unprofitable and make it profitable almost overnight,” Cubley said. “One of our company's original goals was to set out to acquire wireless in rural areas and use it in ways it hasn't been used before,” with a prime example being wireless networks in oil and gas producing areas.
“We operate as a WISP and have thousands of residential customers scattered throughout the U.S., but that is only 50% of our revenue. For a lot of companies, that is the only thing they're doing. If that is your only service, you have to have extremely large networks, because the margins are so thin. If a company can improve its economies of scale, those margins are much better,” Cubley said. “We're not trying to be the largest network, but use the networks for different purposes to generate more revenue.” According to Cubley, “the margins are 80-90% for the energy industry” and a bit less for the supplying communications services to the banking industry, which ERF also does through its wireless CryptoVue network security system.
Although ERF is sometimes in direct competition with local ILECs and RLECs, Cubley said they do often partner with traditional telcos and small wireless companies. “If we can't buy it or build it, we'll contract for it,” he said. In most cases, ERF will buy wholesale broadband bandwidth and re-sell it to the energy industry. “The problem is,” Cubley said, “sometimes the energy industry has higher standards for capacity and latency, so in some cases we have to pay to upgrade existing carriers' networks.” Right now, ERF has 14 such contracts in the U.S. and Canada, with more likely in the future.
Energy Industry Boom Fuels Growth at ERF Wireless
Wireless Provider Taps Vertical Markets
As a wireless communications company boasting a 212% YoY growth in revenue, ERF Wireless stands out as a success story in today's difficult and competitive market. The key to the company's business plan lies in something we've been highlighting for a while: the power of vertical markets. According to ERF founder and ceo Dr. Dean Cubley, the company's strength is its diversified business, which supplies high-capacity wireless services to three main sectors—WISP services for rural business and residential customers, secure wireless communications services for the banking industry, and “nomadic communications solutions” for the energy industry. With this model, Cubley says growth in one sector can counter stagnation in another sector. Right now, ERF's sustained commitment to providing wireless communications services for the energy industry has allowed ERF to be profitable over the last two to three years. When so many other companies are reporting losses and laying off employees, Cubley says ERF is “just having a hard time keeping up with all of the business.”
Cubley founded ERF back in 2004, after decades in the wireless industry. Since then ERF has acquired 16 companies—mostly wireless companies in rural areas and, most recently, in oil and gas producing regions. Now, Cubley says, “anywhere there's oil and gas, we're interested in networks there.” Not only can ERF supply wireless to the energy companies, but as people come into the regions, rural banks and rural customers also look for services, which ERF can supply off of the same networks. “We use a little bit of everything: licensed spectrum, unlicensed spectrum, and what we use depends where we are,” Cubley said. The company uses 6 GHz licensed spectrum on the backbone, typically, but also uses 3.65 GHz in rural areas if there is interference on unlicensed spectrum.
Based in League City, Texas, ERF is well-positioned, geographically, to grow alongside the booming oil and natural gas industry. The nearby Permian Basin spans from west Texas into New Mexico and represents one of the largest oil and natural gas fields in the country. It's a 55-county area where the number of oil rigs has tripled in the last two years, where oil companies have rented hotel rooms a year in advance for their employees, and where the need for manpower seems insatiable. This surge in production and influx of people brings with it the need for wireless connectivity, both for day-to-day business operations and for personal communications. “Our customers operate in very remote areas,” Cubley says, “where it can be a hundred miles or more to the nearest landline, with no towers for wireless connections.” This is where ERF comes in, as a close partner supplying communications services to the oil and gas companies.
ERF operates about 150-200 mobile broadband trailers, each equipped with a 50-foot tower that can be erected by a technician. The trailers can be driven to any remote drilling site and, by connecting back to the company's network, enable powerful high-bandwidth, low-latency wireless broadband in any location. In the past, Cubley says that communications “had been provided by VSATs (satellite), but software designers have developed programs that will not run over VSAT. They [the programs used by oil and gas companies] need high capacity and low latency, and we can provide that kind of system at the same cost as a VSAT.”
Right now, ERF provides this “nomadic solution” in the Southwest and southern Midwest, but Cubley says ERF is opening an office in North Dakota next month. The Williston Basin region of the Dakotas is enjoying a similar (but more recent) energy industry boom, and Cubley said ERF's plan there is to build their own network. “We will be one of the first WISP networks in the area,” Cubley said, “and we chose to build our own network since there are none in the area to buy.”
Cubley said that ERF's business strategy has been to buy and then improve small wireless networks in rural areas—tapping into new sectors of business that can make the networks profitable again. “We can buy a company that is unprofitable and make it profitable almost overnight,” Cubley said. “One of our company's original goals was to set out to acquire wireless in rural areas and use it in ways it hasn't been used before,” with a prime example being wireless networks in oil and gas producing areas.
“We operate as a WISP and have thousands of residential customers scattered throughout the U.S., but that is only 50% of our revenue. For a lot of companies, that is the only thing they're doing. If that is your only service, you have to have extremely large networks, because the margins are so thin. If a company can improve its economies of scale, those margins are much better,” Cubley said. “We're not trying to be the largest network, but use the networks for different purposes to generate more revenue.” According to Cubley, “the margins are 80-90% for the energy industry” and a bit less for the supplying communications services to the banking industry, which ERF also does through its wireless CryptoVue network security system.
Although ERF is sometimes in direct competition with local ILECs and RLECs, Cubley said they do often partner with traditional telcos and small wireless companies. “If we can't buy it or build it, we'll contract for it,” he said. In most cases, ERF will buy wholesale broadband bandwidth and re-sell it to the energy industry. “The problem is,” Cubley said, “sometimes the energy industry has higher standards for capacity and latency, so in some cases we have to pay to upgrade existing carriers' networks.” Right now, ERF has 14 such contracts in the U.S. and Canada, with more likely in the future.
ERFB to Receive Settlement
100 million dollar settlement with Schlumberger should happen soon!
ERFB to Receive Settlement
100 million dollar settlement with Schlumberger should happen soon!
ERF Wireless Ranked one of Fastest GRowing in N.America!
ERF Wireless Ranked 337th Fastest Growing Technology Company in North America on Deloitte's 2011 Technology Fast 500(TM)
LEAGUE CITY, TX--(Marketwire -10/24/11)- ERF Wireless (OTC.BB: ERFB.OB - News), a leading provider of enterprise-class wireless and broadband products and services, announced today that it has been notified that it is ranked number 337 on Deloitte's 2011 Technology Fast 500™, an annual ranking by Deloitte LLP of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. Rankings were based on percentage of fiscal year revenue growth during the five-year period from 2006-2010. ERF Wireless grew 245 percent during this period.
ERF Wireless also indicated that, based on the recent progress it has achieved in improving operating performance and the current trading range of its common stock, the company plans to submit a listing application to either the AMEX or NASDAQ Exchange as soon as all listing requirements are met. In particular the market capitalization requirement is the only listing criterion that ERF Wireless has not already achieved or has the means to achieve at the point of submitting the application. The company believes that operating on a major securities exchange will significantly improve the liquidity of its common stock and afford all of its stockholders the best opportunity for value appreciation.
In order to be eligible for Technology Fast 500™ recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base-year (2006) operating revenues of at least $50,000 USD or CD, and current-year (2010) operating revenues of at least $5 million USD or CD. Additionally, companies must be in business for a minimum of five years, and be headquartered within North America.
About ERF Wireless
ERF Wireless Inc. is a fully reporting public corporation located in League City, Texas, and is the parent company of Energy Broadband Inc., ERF Enterprise Network Services, ERF Bundled Wireless Services, ERF Wireless Messaging Services and ERF Network Services. The company specializes in providing wireless and broadband product and service solutions to enterprise, commercial and residential clients on a regional, national and international basis. Its principals have been in the wireless broadband, network integration, triple-play FTTH, IPTV and content delivery business for more than 40 years. For more information, please visit our websites at http://www.erfwireless.com/ and http://www.erfwireless.net/ or call 281-538-2101. (ERFBG)
About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.
ERF Wireless Ranked in Top 500!
ERF Wireless Ranked 337th Fastest Growing Technology Company in North America on Deloitte's 2011 Technology Fast 500(TM)
LEAGUE CITY, TX--(Marketwire -10/24/11)- ERF Wireless (OTC.BB: ERFB.OB - News), a leading provider of enterprise-class wireless and broadband products and services, announced today that it has been notified that it is ranked number 337 on Deloitte's 2011 Technology Fast 500™, an annual ranking by Deloitte LLP of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. Rankings were based on percentage of fiscal year revenue growth during the five-year period from 2006-2010. ERF Wireless grew 245 percent during this period.
ERF Wireless also indicated that, based on the recent progress it has achieved in improving operating performance and the current trading range of its common stock, the company plans to submit a listing application to either the AMEX or NASDAQ Exchange as soon as all listing requirements are met. In particular the market capitalization requirement is the only listing criterion that ERF Wireless has not already achieved or has the means to achieve at the point of submitting the application. The company believes that operating on a major securities exchange will significantly improve the liquidity of its common stock and afford all of its stockholders the best opportunity for value appreciation.
In order to be eligible for Technology Fast 500™ recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base-year (2006) operating revenues of at least $50,000 USD or CD, and current-year (2010) operating revenues of at least $5 million USD or CD. Additionally, companies must be in business for a minimum of five years, and be headquartered within North America.
About ERF Wireless
ERF Wireless Inc. is a fully reporting public corporation located in League City, Texas, and is the parent company of Energy Broadband Inc., ERF Enterprise Network Services, ERF Bundled Wireless Services, ERF Wireless Messaging Services and ERF Network Services. The company specializes in providing wireless and broadband product and service solutions to enterprise, commercial and residential clients on a regional, national and international basis. Its principals have been in the wireless broadband, network integration, triple-play FTTH, IPTV and content delivery business for more than 40 years. For more information, please visit our websites at http://www.erfwireless.com/ and http://www.erfwireless.net/ or call 281-538-2101. (ERFBG)
About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.
ERF Wireless Ranked in Top 500!
ERF Wireless Ranked 337th Fastest Growing Technology Company in North America on Deloitte's 2011 Technology Fast 500(TM)
LEAGUE CITY, TX--(Marketwire -10/24/11)- ERF Wireless (OTC.BB: ERFB.OB - News), a leading provider of enterprise-class wireless and broadband products and services, announced today that it has been notified that it is ranked number 337 on Deloitte's 2011 Technology Fast 500™, an annual ranking by Deloitte LLP of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. Rankings were based on percentage of fiscal year revenue growth during the five-year period from 2006-2010. ERF Wireless grew 245 percent during this period.
ERF Wireless also indicated that, based on the recent progress it has achieved in improving operating performance and the current trading range of its common stock, the company plans to submit a listing application to either the AMEX or NASDAQ Exchange as soon as all listing requirements are met. In particular the market capitalization requirement is the only listing criterion that ERF Wireless has not already achieved or has the means to achieve at the point of submitting the application. The company believes that operating on a major securities exchange will significantly improve the liquidity of its common stock and afford all of its stockholders the best opportunity for value appreciation.
In order to be eligible for Technology Fast 500™ recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base-year (2006) operating revenues of at least $50,000 USD or CD, and current-year (2010) operating revenues of at least $5 million USD or CD. Additionally, companies must be in business for a minimum of five years, and be headquartered within North America.
About ERF Wireless
ERF Wireless Inc. is a fully reporting public corporation located in League City, Texas, and is the parent company of Energy Broadband Inc., ERF Enterprise Network Services, ERF Bundled Wireless Services, ERF Wireless Messaging Services and ERF Network Services. The company specializes in providing wireless and broadband product and service solutions to enterprise, commercial and residential clients on a regional, national and international basis. Its principals have been in the wireless broadband, network integration, triple-play FTTH, IPTV and content delivery business for more than 40 years. For more information, please visit our websites at http://www.erfwireless.com/ and http://www.erfwireless.net/ or call 281-538-2101. (ERFBG)
About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.
ERF Wireless Ranked one of N.America's Fastest Growing Tech Company's!
ERF Wireless Ranked 337th Fastest Growing Technology Company in North America on Deloitte's 2011 Technology Fast 500(TM)
LEAGUE CITY, TX--(Marketwire -10/24/11)- ERF Wireless (OTC.BB: ERFB.OB - News), a leading provider of enterprise-class wireless and broadband products and services, announced today that it has been notified that it is ranked number 337 on Deloitte's 2011 Technology Fast 500™, an annual ranking by Deloitte LLP of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. Rankings were based on percentage of fiscal year revenue growth during the five-year period from 2006-2010. ERF Wireless grew 245 percent during this period.
ERF Wireless also indicated that, based on the recent progress it has achieved in improving operating performance and the current trading range of its common stock, the company plans to submit a listing application to either the AMEX or NASDAQ Exchange as soon as all listing requirements are met. In particular the market capitalization requirement is the only listing criterion that ERF Wireless has not already achieved or has the means to achieve at the point of submitting the application. The company believes that operating on a major securities exchange will significantly improve the liquidity of its common stock and afford all of its stockholders the best opportunity for value appreciation.
In order to be eligible for Technology Fast 500™ recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base-year (2006) operating revenues of at least $50,000 USD or CD, and current-year (2010) operating revenues of at least $5 million USD or CD. Additionally, companies must be in business for a minimum of five years, and be headquartered within North America.
About ERF Wireless
ERF Wireless Inc. is a fully reporting public corporation located in League City, Texas, and is the parent company of Energy Broadband Inc., ERF Enterprise Network Services, ERF Bundled Wireless Services, ERF Wireless Messaging Services and ERF Network Services. The company specializes in providing wireless and broadband product and service solutions to enterprise, commercial and residential clients on a regional, national and international basis. Its principals have been in the wireless broadband, network integration, triple-play FTTH, IPTV and content delivery business for more than 40 years. For more information, please visit our websites at http://www.erfwireless.com/ and http://www.erfwireless.net/ or call 281-538-2101. (ERFBG)
About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.
ERF Ranked one of the Fastest Growing Tech Company's!
ERF Wireless Ranked 337th Fastest Growing Technology Company in North America on Deloitte's 2011 Technology Fast 500(TM)
LEAGUE CITY, TX--(Marketwire -10/24/11)- ERF Wireless (OTC.BB: ERFB.OB - News), a leading provider of enterprise-class wireless and broadband products and services, announced today that it has been notified that it is ranked number 337 on Deloitte's 2011 Technology Fast 500™, an annual ranking by Deloitte LLP of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. Rankings were based on percentage of fiscal year revenue growth during the five-year period from 2006-2010. ERF Wireless grew 245 percent during this period.
ERF Wireless also indicated that, based on the recent progress it has achieved in improving operating performance and the current trading range of its common stock, the company plans to submit a listing application to either the AMEX or NASDAQ Exchange as soon as all listing requirements are met. In particular the market capitalization requirement is the only listing criterion that ERF Wireless has not already achieved or has the means to achieve at the point of submitting the application. The company believes that operating on a major securities exchange will significantly improve the liquidity of its common stock and afford all of its stockholders the best opportunity for value appreciation.
In order to be eligible for Technology Fast 500™ recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base-year (2006) operating revenues of at least $50,000 USD or CD, and current-year (2010) operating revenues of at least $5 million USD or CD. Additionally, companies must be in business for a minimum of five years, and be headquartered within North America.
About ERF Wireless
ERF Wireless Inc. is a fully reporting public corporation located in League City, Texas, and is the parent company of Energy Broadband Inc., ERF Enterprise Network Services, ERF Bundled Wireless Services, ERF Wireless Messaging Services and ERF Network Services. The company specializes in providing wireless and broadband product and service solutions to enterprise, commercial and residential clients on a regional, national and international basis. Its principals have been in the wireless broadband, network integration, triple-play FTTH, IPTV and content delivery business for more than 40 years. For more information, please visit our websites at http://www.erfwireless.com/ and http://www.erfwireless.net/ or call 281-538-2101. (ERFBG)
About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.
ERFB one of N. Americas Fastest Growing Tech Company's!
ERF Wireless Ranked 337th Fastest Growing Technology Company in North America on Deloitte's 2011 Technology Fast 500(TM)
LEAGUE CITY, TX--(Marketwire -10/24/11)- ERF Wireless (OTC.BB: ERFB.OB - News), a leading provider of enterprise-class wireless and broadband products and services, announced today that it has been notified that it is ranked number 337 on Deloitte's 2011 Technology Fast 500™, an annual ranking by Deloitte LLP of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. Rankings were based on percentage of fiscal year revenue growth during the five-year period from 2006-2010. ERF Wireless grew 245 percent during this period.
ERF Wireless also indicated that, based on the recent progress it has achieved in improving operating performance and the current trading range of its common stock, the company plans to submit a listing application to either the AMEX or NASDAQ Exchange as soon as all listing requirements are met. In particular the market capitalization requirement is the only listing criterion that ERF Wireless has not already achieved or has the means to achieve at the point of submitting the application. The company believes that operating on a major securities exchange will significantly improve the liquidity of its common stock and afford all of its stockholders the best opportunity for value appreciation.
In order to be eligible for Technology Fast 500™ recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base-year (2006) operating revenues of at least $50,000 USD or CD, and current-year (2010) operating revenues of at least $5 million USD or CD. Additionally, companies must be in business for a minimum of five years, and be headquartered within North America.
About ERF Wireless
ERF Wireless Inc. is a fully reporting public corporation located in League City, Texas, and is the parent company of Energy Broadband Inc., ERF Enterprise Network Services, ERF Bundled Wireless Services, ERF Wireless Messaging Services and ERF Network Services. The company specializes in providing wireless and broadband product and service solutions to enterprise, commercial and residential clients on a regional, national and international basis. Its principals have been in the wireless broadband, network integration, triple-play FTTH, IPTV and content delivery business for more than 40 years. For more information, please visit our websites at http://www.erfwireless.com/ and http://www.erfwireless.net/ or call 281-538-2101. (ERFBG)
About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.
ERF Wireless Ranked one of the Fastest Growing Tech Company's!
ERF Wireless Ranked 337th Fastest Growing Technology Company in North America on Deloitte's 2011 Technology Fast 500(TM)
LEAGUE CITY, TX--(Marketwire -10/24/11)- ERF Wireless (OTC.BB: ERFB.OB - News), a leading provider of enterprise-class wireless and broadband products and services, announced today that it has been notified that it is ranked number 337 on Deloitte's 2011 Technology Fast 500™, an annual ranking by Deloitte LLP of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. Rankings were based on percentage of fiscal year revenue growth during the five-year period from 2006-2010. ERF Wireless grew 245 percent during this period.
ERF Wireless also indicated that, based on the recent progress it has achieved in improving operating performance and the current trading range of its common stock, the company plans to submit a listing application to either the AMEX or NASDAQ Exchange as soon as all listing requirements are met. In particular the market capitalization requirement is the only listing criterion that ERF Wireless has not already achieved or has the means to achieve at the point of submitting the application. The company believes that operating on a major securities exchange will significantly improve the liquidity of its common stock and afford all of its stockholders the best opportunity for value appreciation.
In order to be eligible for Technology Fast 500™ recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base-year (2006) operating revenues of at least $50,000 USD or CD, and current-year (2010) operating revenues of at least $5 million USD or CD. Additionally, companies must be in business for a minimum of five years, and be headquartered within North America.
About ERF Wireless
ERF Wireless Inc. is a fully reporting public corporation located in League City, Texas, and is the parent company of Energy Broadband Inc., ERF Enterprise Network Services, ERF Bundled Wireless Services, ERF Wireless Messaging Services and ERF Network Services. The company specializes in providing wireless and broadband product and service solutions to enterprise, commercial and residential clients on a regional, national and international basis. Its principals have been in the wireless broadband, network integration, triple-play FTTH, IPTV and content delivery business for more than 40 years. For more information, please visit our websites at http://www.erfwireless.com/ and http://www.erfwireless.net/ or call 281-538-2101. (ERFBG)
About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.
ERF Wireless one of the Top 500!
ERF Wireless Ranked 337th Fastest Growing Technology Company in North America on Deloitte's 2011 Technology Fast 500(TM)
LEAGUE CITY, TX--(Marketwire -10/24/11)- ERF Wireless (OTC.BB: ERFB.OB - News), a leading provider of enterprise-class wireless and broadband products and services, announced today that it has been notified that it is ranked number 337 on Deloitte's 2011 Technology Fast 500™, an annual ranking by Deloitte LLP of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. Rankings were based on percentage of fiscal year revenue growth during the five-year period from 2006-2010. ERF Wireless grew 245 percent during this period.
ERF Wireless also indicated that, based on the recent progress it has achieved in improving operating performance and the current trading range of its common stock, the company plans to submit a listing application to either the AMEX or NASDAQ Exchange as soon as all listing requirements are met. In particular the market capitalization requirement is the only listing criterion that ERF Wireless has not already achieved or has the means to achieve at the point of submitting the application. The company believes that operating on a major securities exchange will significantly improve the liquidity of its common stock and afford all of its stockholders the best opportunity for value appreciation.
In order to be eligible for Technology Fast 500™ recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base-year (2006) operating revenues of at least $50,000 USD or CD, and current-year (2010) operating revenues of at least $5 million USD or CD. Additionally, companies must be in business for a minimum of five years, and be headquartered within North America.
About ERF Wireless
ERF Wireless Inc. is a fully reporting public corporation located in League City, Texas, and is the parent company of Energy Broadband Inc., ERF Enterprise Network Services, ERF Bundled Wireless Services, ERF Wireless Messaging Services and ERF Network Services. The company specializes in providing wireless and broadband product and service solutions to enterprise, commercial and residential clients on a regional, national and international basis. Its principals have been in the wireless broadband, network integration, triple-play FTTH, IPTV and content delivery business for more than 40 years. For more information, please visit our websites at http://www.erfwireless.com/ and http://www.erfwireless.net/ or call 281-538-2101. (ERFBG)
About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.
ERF Wireless in the Top 500!
ERF Wireless Ranked 337th Fastest Growing Technology Company in North America on Deloitte's 2011 Technology Fast 500(TM)
LEAGUE CITY, TX--(Marketwire -10/24/11)- ERF Wireless (OTC.BB: ERFB.OB - News), a leading provider of enterprise-class wireless and broadband products and services, announced today that it has been notified that it is ranked number 337 on Deloitte's 2011 Technology Fast 500™, an annual ranking by Deloitte LLP of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. Rankings were based on percentage of fiscal year revenue growth during the five-year period from 2006-2010. ERF Wireless grew 245 percent during this period.
ERF Wireless also indicated that, based on the recent progress it has achieved in improving operating performance and the current trading range of its common stock, the company plans to submit a listing application to either the AMEX or NASDAQ Exchange as soon as all listing requirements are met. In particular the market capitalization requirement is the only listing criterion that ERF Wireless has not already achieved or has the means to achieve at the point of submitting the application. The company believes that operating on a major securities exchange will significantly improve the liquidity of its common stock and afford all of its stockholders the best opportunity for value appreciation.
In order to be eligible for Technology Fast 500™ recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base-year (2006) operating revenues of at least $50,000 USD or CD, and current-year (2010) operating revenues of at least $5 million USD or CD. Additionally, companies must be in business for a minimum of five years, and be headquartered within North America.
About ERF Wireless
ERF Wireless Inc. is a fully reporting public corporation located in League City, Texas, and is the parent company of Energy Broadband Inc., ERF Enterprise Network Services, ERF Bundled Wireless Services, ERF Wireless Messaging Services and ERF Network Services. The company specializes in providing wireless and broadband product and service solutions to enterprise, commercial and residential clients on a regional, national and international basis. Its principals have been in the wireless broadband, network integration, triple-play FTTH, IPTV and content delivery business for more than 40 years. For more information, please visit our websites at http://www.erfwireless.com/ and http://www.erfwireless.net/ or call 281-538-2101. (ERFBG)
About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.
ERF Wireless one of N. America's Fastest growing Tech Company's
ERF Wireless Ranked 337th Fastest Growing Technology Company in North America on Deloitte's 2011 Technology Fast 500(TM)
LEAGUE CITY, TX--(Marketwire -10/24/11)- ERF Wireless (OTC.BB: ERFB.OB - News), a leading provider of enterprise-class wireless and broadband products and services, announced today that it has been notified that it is ranked number 337 on Deloitte's 2011 Technology Fast 500™, an annual ranking by Deloitte LLP of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. Rankings were based on percentage of fiscal year revenue growth during the five-year period from 2006-2010. ERF Wireless grew 245 percent during this period.
ERF Wireless also indicated that, based on the recent progress it has achieved in improving operating performance and the current trading range of its common stock, the company plans to submit a listing application to either the AMEX or NASDAQ Exchange as soon as all listing requirements are met. In particular the market capitalization requirement is the only listing criterion that ERF Wireless has not already achieved or has the means to achieve at the point of submitting the application. The company believes that operating on a major securities exchange will significantly improve the liquidity of its common stock and afford all of its stockholders the best opportunity for value appreciation.
In order to be eligible for Technology Fast 500™ recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base-year (2006) operating revenues of at least $50,000 USD or CD, and current-year (2010) operating revenues of at least $5 million USD or CD. Additionally, companies must be in business for a minimum of five years, and be headquartered within North America.
About ERF Wireless
ERF Wireless Inc. is a fully reporting public corporation located in League City, Texas, and is the parent company of Energy Broadband Inc., ERF Enterprise Network Services, ERF Bundled Wireless Services, ERF Wireless Messaging Services and ERF Network Services. The company specializes in providing wireless and broadband product and service solutions to enterprise, commercial and residential clients on a regional, national and international basis. Its principals have been in the wireless broadband, network integration, triple-play FTTH, IPTV and content delivery business for more than 40 years. For more information, please visit our websites at http://www.erfwireless.com/ and http://www.erfwireless.net/ or call 281-538-2101. (ERFBG)
About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.
ERF Wireless a leading provider of enterprise-class wireless and broadband products and services!
ERF Wireless Ranked 337th Fastest Growing Technology Company in North America on Deloitte's 2011 Technology Fast 500(TM)
LEAGUE CITY, TX--(Marketwire -10/24/11)- ERF Wireless (OTC.BB: ERFB.OB - News), a leading provider of enterprise-class wireless and broadband products and services, announced today that it has been notified that it is ranked number 337 on Deloitte's 2011 Technology Fast 500™, an annual ranking by Deloitte LLP of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. Rankings were based on percentage of fiscal year revenue growth during the five-year period from 2006-2010. ERF Wireless grew 245 percent during this period.
ERF Wireless also indicated that, based on the recent progress it has achieved in improving operating performance and the current trading range of its common stock, the company plans to submit a listing application to either the AMEX or NASDAQ Exchange as soon as all listing requirements are met. In particular the market capitalization requirement is the only listing criterion that ERF Wireless has not already achieved or has the means to achieve at the point of submitting the application. The company believes that operating on a major securities exchange will significantly improve the liquidity of its common stock and afford all of its stockholders the best opportunity for value appreciation.
In order to be eligible for Technology Fast 500™ recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base-year (2006) operating revenues of at least $50,000 USD or CD, and current-year (2010) operating revenues of at least $5 million USD or CD. Additionally, companies must be in business for a minimum of five years, and be headquartered within North America.
About ERF Wireless
ERF Wireless Inc. is a fully reporting public corporation located in League City, Texas, and is the parent company of Energy Broadband Inc., ERF Enterprise Network Services, ERF Bundled Wireless Services, ERF Wireless Messaging Services and ERF Network Services. The company specializes in providing wireless and broadband product and service solutions to enterprise, commercial and residential clients on a regional, national and international basis. Its principals have been in the wireless broadband, network integration, triple-play FTTH, IPTV and content delivery business for more than 40 years. For more information, please visit our websites at http://www.erfwireless.com/ and http://www.erfwireless.net/ or call 281-538-2101. (ERFBG)
About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.
337th Fastest Growing Technology Company in North America
ERF Wireless Ranked 337th Fastest Growing Technology Company in North America on Deloitte's 2011 Technology Fast 500(TM)
LEAGUE CITY, TX--(Marketwire -10/24/11)- ERF Wireless (OTC.BB: ERFB.OB - News), a leading provider of enterprise-class wireless and broadband products and services, announced today that it has been notified that it is ranked number 337 on Deloitte's 2011 Technology Fast 500™, an annual ranking by Deloitte LLP of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. Rankings were based on percentage of fiscal year revenue growth during the five-year period from 2006-2010. ERF Wireless grew 245 percent during this period.
ERF Wireless also indicated that, based on the recent progress it has achieved in improving operating performance and the current trading range of its common stock, the company plans to submit a listing application to either the AMEX or NASDAQ Exchange as soon as all listing requirements are met. In particular the market capitalization requirement is the only listing criterion that ERF Wireless has not already achieved or has the means to achieve at the point of submitting the application. The company believes that operating on a major securities exchange will significantly improve the liquidity of its common stock and afford all of its stockholders the best opportunity for value appreciation.
In order to be eligible for Technology Fast 500™ recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base-year (2006) operating revenues of at least $50,000 USD or CD, and current-year (2010) operating revenues of at least $5 million USD or CD. Additionally, companies must be in business for a minimum of five years, and be headquartered within North America.
About ERF Wireless
ERF Wireless Inc. is a fully reporting public corporation located in League City, Texas, and is the parent company of Energy Broadband Inc., ERF Enterprise Network Services, ERF Bundled Wireless Services, ERF Wireless Messaging Services and ERF Network Services. The company specializes in providing wireless and broadband product and service solutions to enterprise, commercial and residential clients on a regional, national and international basis. Its principals have been in the wireless broadband, network integration, triple-play FTTH, IPTV and content delivery business for more than 40 years. For more information, please visit our websites at http://www.erfwireless.com/ and http://www.erfwireless.net/ or call 281-538-2101. (ERFBG)
About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.
ERFB News Update!
ERF Wireless Continues to Grow Its Banking Sector Revenue in Addition to WISP and Oil and Gas Revenues
LEAGUE CITY, TX--(Marketwire -10/20/11)- ERF Wireless (OTC.BB: ERFB.OB - News), a leading provider of enterprise-class wireless and broadband products and services, announced today that its Enterprise Network Services Division (ENS) has been actively working with its existing banking customers in Texas and Louisiana to meet their needs for expanded and upgraded services, including the addition of new service areas that accommodate their growing wireless network coverage requirements. Specifically, ENS recently completed the addition of one new branch location for one bank customer and is now in the process of finalizing plans for the addition of four new branch locations for two other bank customers. These new bank projects are providing both one-time and recurring revenue that is in addition to the long-term recurring revenue that each of these bank customers currently provides ERF Wireless.
Dr. H. Dean Cubley, CEO of ERF Wireless, commented, "Since the banking sector has been under intense pressure from the current financial crisis, ENS suspended allocating major resources on marketing to that sector. Instead, the company temporarily focused much of its attention on using many of its existing bank networks to service its oil and gas and WISP customers. In addition, some resources have been expended in firming up patent protection, improving the CryptoVue® product line, servicing our existing banking customers and expanding and upgrading their existing networks."
Dr. Cubley went on to note that ENS has also begun developing additional vertical markets for wireless broadband in the educational and healthcare sectors. Going forward, ERF Wireless will maintain this balanced approach of using all of its wireless networks to generate multiple revenue streams from residential and commercial WISP customers, bank customers and oil and gas customers.
Currently, the revenue from the company's Energy Broadband subsidiary is growing at such a rapid rate that the majority of the company's resources are focused on the oil and gas sector. The company also recently announced a new financing arrangement that will enable its oil and gas business to grow at an even faster pace. However, when the banking sector recovers, ERF Wireless will be ready with a proven and satisfied customer base, a proven and patented CryptoVue® product, and the available personnel and resources to quickly expand this important market.
About ERF Wireless
ERF Wireless Inc. is a fully reporting public corporation located in League City, Texas, and is the parent company of Energy Broadband Inc., ERF Enterprise Network Services, ERF Bundled Wireless Services, ERF Wireless Messaging Services and ERF Network Services. The company specializes in providing wireless and broadband product and service solutions to enterprise, commercial and residential clients on a regional, national and international basis. Its principals have been in the wireless broadband, network integration, triple-play FTTH, IPTV and content delivery business for more than 40 years. For more information, please visit our websites at www.erfwireless.com and www.erfwireless.net or call 281-538-2101. (ERFBG)