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Nevada Secretary of State website does not indicate a receipt of OneFi's Annual List Fee (as of 03/01/2010 17:51 PM). Fee was due Feb 28.
http://nvsos.gov/sosentitysearch/FeeDetails.aspx?ctok=ksOZFcdwNLIN3yvg0M9E2g%253d%253d
gte_gold
Last mile and middle mile applications must be submitted no later than 5:00 p.m. ET, March 15,
2010.
gte_gold
We don't even know if EBITDA has applied yet for round 2. It means EBITDA did not receive funding from BTOP or BIP for round 1. There has not been a company PR to address if the company will apply for round 2 or not. No company is automatically moved to round 2 if they failed round 1. Round 2 is a separate competitive process to award funding. Companies wishing to participate in round 2 must initiate applications just as they did in round 1 and will be ranked and judged to the requirements described in the new NOFA for BTOP or BIP for round 2. Applicants who participated in round 1 will not receive any credit for doing so. They start at the same place with the same requirements as everyone else who are applying for round 2 for the first time. Application acceptance date for round 2 began February 16 2010.
gte_gold
EBITDA Status on the BroadbandUSA website changed today. Previously the status was: "Application Not Funded by BTOP"
New status: "Application Not Funded"
gte_gold
OneFi has published some outrageous projections and claims regarding agreements, revenue and other activities the company is supposedly involved with. I believe slojab's intent is to remind OneFi's CFO that many are still waiting for an update from the company regarding the Navajo contract. I would be surprised to discover anyone really believing OneFi was receiving revenue from a Navajo contract or that OneFi was locked into deploying that $20M installation for the Navajo people. LOL
I hope others read our requests for the company to provide updates. perhaps the message here for other readers, is that the company provides limited information about their activities and zero information is published about the results of their claims and projections.
gte_gold
Round 2 will require most of the awards to be a combination of grants and loan. A 75/25 grant/loan ratio is the baseline for funding on projects. The purpose for this requirement is to stretch the funds availabe for broadbanb further.
Dio, If OneFi was not awarded funds for round 1, they will need to begin the process all over again by filing another application for round 2 that began accepting applications yesterday. I also expect that most applicants know if they were awarded funds for round 1 by now.
02/16/2010 NTIA and RUS are now accepting applications under the second and final round of the Broadband Technology Opportunities Program (BTOP) and the Broadband Initiatives Program (BIP). Will OneFi or EBITDA submit applications for this second round of grant/loans?
Any updates on the following? Did the subject of any of these 10 press releases create revenue?
12-15-2009 OneFi Technology, Inc. Announces Engagement of EBITDA Capital to Seek Government Contracts
12-10-2009 OneFi Technology, Inc. Announces the Initial WiMax/BPL Broadband Installation to Begin for the Hogback Region of the Navajo Nation
07-15-2009 OneFi Announces New MOU With IPTV Technology
06-25-2009 OneFi Announces the Signing of a Letter of Intent With Secure World International to Add Encryption Protection on the OneFi Networks
06-22-2009 OneFi Announces Plans to Start Deployment of Their Wireless Internet Technology in the Island of Jamaica
06-10-2009 OneFi Technology, Inc. Announces Third Quarter Revenue Projections of $20,000,000
06-04-2009 OneFi Technology Announces the Ability to Deploy 4G Internet Network Capabilities
05-29-2009 OneFi Technology Announces a Saudi Arabia Appointment to Market Its Wireless Internet Products to the GCC Region
05-19-2009 OneFi Technology, Inc. Announces Its Commitment to Native American Communities
04-27-2009 OneFi Technology, Inc. Seeking Its Share of the Government's Broadband Connectivity "Stimulus Package"
As far as I know, OneFi has not violated any SEC regulations to report.
Mr. David Martinez.... where have I heard that name before?, Hmmm
"...Mr. David Martinez has set in motion the initial phase and stated, “Native Americans wish to be in a position to partner with HST Global to offer an alternative health and wellness solution..."
From OneFi May 18, 2009 Press Release:
"...Mr. DJ Martinez, representing OneFi to the Navajo Nation, has managed the process and he states, "The 600 square mile Navajo Nation Reservation needs to be connected and allowed access to broadband internet through a 21st century communications network..."
Chet Noblett has certainly been busy. The wording in the press release from HST Global and OneFi are eerily familiar... including Navajo Nation and Saudi interests. LOL
"...HST Global, Inc has given authority to EBITDA Capital, LLC to begin working with EBITDAEs contacts and clients within the Kingdom of Saudi Arabia. Key clientele within the Royal Family have expressed an interest in becoming shareholders in HSTC..."
Do you know Mr. David Martinez, jg55?
gte_gold
OneFi has a history of creating PRs that are difficult to research and confirm the information contained within. Probably the only exception is the Villa Park installation. The Villa Park installation stopped working 2 or 3 months after installation. Reviewing the City Council video, OneFi did not answer repeated email inquiries from the city after the installation stopped working, forcing the city to terminated the license agreement with OneFi. If it weren't for the City Council video and meeting minutes, shareholders would never have discovered the behavior of the company, the unprofessional failure to respond to the city, and the company's failure to perform to the license agreement between the city and OneFi. The company never publicly commented on that installation again.... similar to most PRs from the company, never to be heard of again.
OneFi takes a small grain of truth, amplifies and spins a story with carefully crafted words to suggest a project of tremendous value is possible. The $20,000,000 Q3 revenue PR is one example of the company's inflated and unsubstantiated expectations that failed to materialize.
All the other company PRs about Saudi Arabia appointments, Jamaica deployment and government broadband funding may have some tiny piece of truth, greatly exaggerated, without substantial information to confirm, and typically never heard again.
Some don't care if OneFi has a product or not... as long as emotion is created by the PRs purpose to inflate the share price.
gte_gold
That PR could have been interpreted as OneFi expecting more than $20,000,000 in revenue for 3Q 2009.
"...This is an estimate when you consider all the positive things happening with the Company..."
I fell from my chair laughing when I first read that PR.
gte_gold
Did initial installation begin in the Hogback Region, Mr White? What, if anything, was installed? What government program would fund such an installation?
OneFi Technology, Inc. (PINKSHEETS: ONFI) announces the initial installation of WiMax/BPL Technology in the Hogback Region of the Navajo Nation is scheduled to begin in Jan. 2010. The network will be valued at $20,000,000 when it is completed.
gte_gold
EBITDA Capital Not Funded by BTOP.
All 5 applications did not receive BTOP funding. Click link below
BroadbandUSA database search for EBITDA Capital
gte_gold
I'll leave it to you to decide the quality of your investments.
$4.8 Billion in round 2 stimulus funding was announced last Friday (Jan 15). NTIA is allocated $2.6 Billion and RUS is allocated 2.2 Billion for round 2. Round 1 funding began December 17 and will be awarded on a rolling basis over 75 days. Round 1 awards should be completed by March 5 2010 by my count and we should know by that time if the EBITDA/OneFi received grant awards available during that round.
Round 2 funding rules are different. In round 1, there was one NOFA (Notices of Funds Availability) for combined BTOP and BIP programs. For round 2, there are separate NOFAs for each program. The BTOP program will focus on middle mile infrastructure to connect "key community anchor institutions- such as libraries, hospitals, community colleges, universities and public safety institutions". RUS will focus this 2nd round on last mile projects, which are anticipated to receive the vast majority of the $2.2 billion BIP funding. RUS will also fund middle mile projects involving current RUS program participants. The first NOFA had two funding options – grants up to 100 percent in remote rural areas, and 50/50 loan/grant combinations in non-remote rural areas. In the second NOFA, RUS has eliminated this distinction and adopted a base 75/25 grant/loan combination for all projects. The new approach provides RUS with flexibility to seek a waiver if additional grant resources are needed for areas that are difficult to serve, and priority for those who seek lower grant levels. RUS believes this simplified and flexible funding strategy will promote rural economic development.
If EBITDA seeks similar last mile infrastructure funding for round 2 as they did in round 1, they will most likely apply for BIP program loan/grants for this 2nd round. The agencies plan to accept applications from February 16, 2010, to March 15, 2010, and announce all awards by September 30, 2010.
www.ntia.doc.gov/press/2010/BTOP_BIP_NOFAII_100115.html
gte_gold
The association between Noblett and both companies has been discussed before. At that time Noblett was a managing partner of EBITDA. Click on the message link below
#msg-37213078
OneFi released a PR in December that it will begin installation of WiMax/BPL broadband for the Hogback Region of the Navajo Nation in January 2010. Similar to the PR projecting 3rd quarter revenue of $20,000,000 (never happened I assume), the December PR also fails to detail where the funding would come from. The NTIA at this time has not posted funding awards available to the region identified in that PR. Did OneFi think people wouldn't notice this when they published that PR? The December PR might be related to the vague May 18 PR. If so, it provides few additional details. As January comes and goes, it should be no surprise if the December PR quietly fades away... never to be heard of again, just like these:
05-29-2009 OneFi Technology Announces a Saudi Arabia Appointment to Market Its Wireless Internet Products to the GCC Region
06-10-2009 OneFi Technology, Inc. Announces Third Quarter Revenue Projections of $20,000,000
06-22-2009 OneFi Announces Plans to Start Deployment of Their Wireless Internet Technology in the Island of Jamaica
06-25-2009 OneFi Announces the Signing of a Letter of Intent With Secure World International to Add Encryption Protection on the OneFi Networks
07-15-2009 OneFi Announces New MOU With IPTV Technology.
Without updates to these releases, OneFi sure makes it difficult to believe the information they publish because of the lack of details in the PRs or missed projection dates. The links to these PRs are in the IBOX, anyone can read them and decide for themselves.
gte_gold
I am not aware of any contracts awarded to OneFi this year.
gte_gold
I didn't see the exchange as ridiculous. I'd like to think that the point slojab communicated about the ambiguous information in the PRs from OneFi was heard and will be improved in future PRs.
I also believe OneFi's lack of information is the root cause leading to this statement from ONEFI CFO:
"What is really holding down the price of this stock are all the doubters that write negative information WITHOUT any real facts. You say you are doing due diligence when you call up and bug our clients, speak with the wrong people, get bad information then come on these boards and post that information as FACT."
Most of the past PRs are written without sufficient information to prevent shareholders from "speaking with the wrong people" or finding the FACTS while digging to uncover what was missing from the PR. How can a person speak to the RIGHT person if that information is missing from the PR? For example, OneFi broadly uses the term "Navajo Nation". This will certainly lead shareholders in the wrong direction in their attempt to verify OneFi's claim of Navajo Nation agreement for deployment. When the Director of the Navajo Nation Department of Information Technology writes saying they "do not have an agreement with OneFi", I can understand why some may start doubting the PR about Navajo Nation deployment. Who is really at fault here? A couple sentences in the PR to better describe the subject deployment would have prevented the many inquiries to the NNDIT. OneFi chose to leave out important information in the PRs. Readers of the PR will try to bridge the gaps themselves and misinformation will be posted on the board in the process. It's not the fault of the poster. When the company publishes $20M 3rd Quarter revenue projections without follow up explaining what happened when projection was missed, Who is at fault for creating doubt and misinformation here?
Anyone following this board will remember the many times I have described my frustration with the lack of information in the PRs. I was encouraged by the statement from ONEFI CFO "I'll see to it in future releases that more information is provided". I agree with slojab that a PR could be written soon to bridge the information gap of past PRs.
gte_gold
Thanks for the information. There appeared to be a sizable number of companies that applied for funding willing to match funds to various degrees. Do you think the funding will reach companies that will not match funds? Did EBITA's application include a matching of funds?.
That is a fair question. We don't know how an award to EBITDA Capital would impact OneFi and shareholders. Vague information from OneFi is meaningless to predict potential revenue for the company even if EBITDA is awarded stimulus funds....and personally, I don't expect that to happen.
gte_gold
BroadbandUSA link showing companies awarded BTOP/BIP stimulus funding.
http://www.ntia.doc.gov/broadbandgrants/applications/results.cfm?org=&keywords=&state=&status=Awarded
gte_gold
What has historically occurred with this stock is "trapped and looted" LOL.
Low OS? OS recently jumped 155% to 893M in a few months.
gte_gold
First Broadband infrastructure awards viewable at BroadbandUSA website. No award yet for team EBITDA/OneFi. Four grant awards totaling $61.25M and one loan award for $1.39M are listed at this time. They are for:
Biddeford Internet Corp.
Pine Telephone Company, Inc.
Consolidated Electric Cooperative Inc
Rivada Sea Lion, LLC
http://www.ntia.doc.gov/broadbandgrants/applications/results.cfm?org=&keywords=&projtype=&program=BIP%2FBTOP&state=&status=Awarded
gte_gold
slojab, between 9/30/09 and 12/14/09, only 59M shares have market traded for OneFi. Would be interesting to know who has those additional 484 Million Shares that did not trade between 9/30/09 and today.
gte_gold
New Share structure information is available on pinksheets.com
Outstanding Shares increased to 893,552,223 shares, an increase of over 543 Million shares, or 155% from the 9/30/2009 filing.
Float is: 62,567,872 as listed on pinksheets
http://www.pinksheets.com/pink/quote/quote.jsp?symbol=ONFI#getCompanyInfo
gte_gold
The 12-10 PR statement from OneFi provides few details (no surprise). How can a company use $20 million in a sentence without the details of where the money would come from? I do know that NTIA has not published news of any BTOP infrastructure funding awards as the 12-10 PR. Its also public knowledge that OneFi did not directly apply for Broadband Stimulus BTOP or BIP Funds. A project valued at $20M would almost certainly need to be funded by the US Government. If the stimulus funds have not been awarded, There is some uncertainty that the project will ever be valued at $20M.
Take a look at the Press Release, exactly as its written, without making any assumptions or adding speculation.
LOS ANGELES, CA--(Marketwire - December 10, 2009) - OneFi Technology, Inc.
OneFi is not located in Los Angeles. In Fact, the company is located in a different county altogether, Orange County.
(PINKSHEETS: ONFI) announces the initial installation of WiMax/BPL Technology in the Hogback Region of the Navajo Nation is scheduled to begin in Jan. 2010.
"scheduled to begin" is a "forward looking" statement and does not outline any commitment by OneFi or the Navajo Nation. The use of "Navajo Nation" is very broadly used by OneFi in this and previous OneFi Press Releases. Here is a portion of an email I received on May 20 from the Director of Information Technology when provided a link to the OneFi May 19 Press Release. "Navajo Nation Department of Information Technology (NNDIT) does not have an agreement with OneFi. You might check with other entities such as schools, township, or casinos. "Navajo Nation" is used broadly in the news release".
To be fair, the Director only denied OneFi involvement with the NNDIT, and could not confirm or deny OneFi involvement with smaller entities within the Navajo Nation such as schools, township, or casinos
"...The network will be valued at $20,000,000 when it is completed...."
This is another "forward looking" statement. The Press Release does not provide definition of how much revenue OneFi would receive when the network is completed. You have already mentioned your concern on that point. The PR only provided a network value when completed. Since OneFi did not use the word revenue, I will not make the assumption all $20M will be revenue to OneFi.
In my opinion, this is another Fluff PR without details or Navajo Nation contact for shareholders to make an inquiry to. Who is paying the bill for this project? Find who holds the purse strings, then you will be able to verify if this project is likely to become a reality and who the real players are. In many ways this is no different than most of the other news published by the company. Most of OneFi's Press Releases also lack the details to easily confirm the information given. If researching information in a PR is HARD, there may be a reason.
gte_gold
Slojab, besides the Navajo application, the other 4 apps are for Mississippi. Arlington TX is the business location listed for EBITDA
You would be surprised how many people faithfully believe anything said in a forum. Most readers filter information they read (I hope) including information from an alias claiming to be the officer of a company. In my opinion, forum posts by an aliased company officer do not equate to public disclosure by the company. Not even close :)
The NTIA does not have the budget to give the stimulus money to everyone. There were $28 Billion requested by the applicants, nearly 7 times the $4.7 Billion authorized by Congress for BTOP. Assuming all applications were equal, (which they aren't) only 1 in 7 applications could be funded for the full amount requested by the applicants.
Only $1.6 Billion will be issued between mid December until early next year. NTIA will have a second round of funding for the remaining $3.1 Billion beginning early 2010 (perhaps first quarter?).
Each eligible BTOP application is evaluated by at least three expert reviewers against established criteria, including the proposed project’s purpose, benefits, viability, budget, and sustainability. For this phase, NTIA recruited and selected over 1,000 highly-qualified BTOP application reviewers. Those applications considered the most highly qualified then advance for further consideration by NTIA. Testimony Before the Subcommittee on Rural Development
As if qualifying for Stimulus funds wasn't difficult enough, OneFi Technology did not apply to the NTIA for stimulus funds. One speculation is that OneFi teamed with EBITDA Capital, however OneFi is not named in the EBITDA executive summary submitted to the NTIA and OneFi has not publicly acknowledged any involvement with EBITDA Capital at this time.
gte_gold
Awards for Broadband Funding have been delayed until Mid December, according to testimony to the Congressional Subcommittee on Rural Development Nov 19.
http://www.ntia.doc.gov/congress/2009/NTIA_Strickling_HouseAg_091119.html
gte_gold
0.007 is brutal. Haven't seen .007 since Sept. Don't worry, ONFI is often blessed(?) with an end of day paint job.
gte_gold
Slojab you are correct.
The thrust of the funding is to provide/improve service defined as "unserved" and "underseved" areas. Generally, an underseved area is defined as:
(1)...No more than 50 percent of the households in the proposed funded service area have access to facilities-based, terrestrial broadband service at greater than the minimum broadband transmission speed (typically 3MB download speed)
(2)...The rate of broadband subscribership for the proposed funded service area is 40 percent of households or less.
The key words in definition 1 is have access to This generalized definition applies to last mile and middle mile proposed funding areas. Individual States also are encouraged to provide input regarding the funding areas in their state. Anyone wanting to waste a perfectly good weekend can click this link to read more :)
http://broadbandusa.sc.egov.usda.gov/files/BB%20NOFA%20FINAL%2007092009.pdf
There is speculation that OneFi is involved with EBITDA Capital to receive Broadband stimulus funding to provide wireless equipment. "Public Response" to Ebitda Capital Broadband funding applications are available for viewing at the "BroadbandUSA" website. A public response was filed for each of the 5 applications and are linked below. At this time OneFi Technology has not published any information saying that they are involved with EBITDA Capital.
http://www.ntia.doc.gov/broadbandgrants/applications/responses/1651pnr.pdf
http://www.ntia.doc.gov/broadbandgrants/applications/responses/3414pnr.pdf
http://www.ntia.doc.gov/broadbandgrants/applications/responses/3423pnr.pdf
http://www.ntia.doc.gov/broadbandgrants/applications/responses/3424pnr.pdf
http://www.ntia.doc.gov/broadbandgrants/applications/responses/3425pnr.pdf
gte_gold
OneFi filed Jan - Sept info on pinksheets.com
No income reported. Shares issued is 350 Million as of Sep 30. Loss is $399,875.51
gte_gold
You think OneFi will benefit from Broadband stimulus funds? Since OneFi Technology did not apply for stimulus funding, I'm interested in knowing your speculation of who would provide Broadband stimulus funds to OneFi.
gte_gold
EBITDA describes their "Team" below in the executive summary filed with NTIA.
"...EBITDA Capital Inc. is a for profit corporation. Our team is composed of experienced individuals and
experienced contractors that have demonstrated results. Our team members have supplied towers to
the U.S. Boarder Patrol and many other Federal Agencies and deployed a wireless network for the entire
nation of Costa Rica".
No mention is made of OneFi in the executive summary. I don't recall OneFi ever releasing information about Boarder Patrol, Federal Agency or Costa Rica deployment... so I can't conclude OneFi is part of this team based on the information in the summary.
It sounds like EBITDA has contractors they feel can be used.
http://www.ntia.doc.gov/broadbandgrants/applications/summaries/1651.pdf
I don't see how OneFi receiving money from a company that was awarded stimulus funding would constitute fraud. Its common for certain contractors to hire other companies for some portion of a project. OneFi never mentioned how they intended to seek funding made available by the Stimulus Package. This may lead to interesting speculation to kick around on the board until OneFi publicly announces details of the companies involvement (if any) in the broadband stimulus government projects.
gte_gold