Anyone else still watching NXPW?
Here's the last PR.....
NextPhase Closes SpeedFactory Acquisition
Wednesday April 12, 8:00 am ET
Company Expects $2 Million Increase in Annual Revenues as It Further Expands Portfolio and Reach With Acquisition of Leading Regional Business-Class ISP
ANAHEIM, CA--(MARKET WIRE)--Apr 12, 2006 -- NextPhase Wireless (OTC BB:NXPW.OB - News), a next-generation connectivity company that specializes in integrated Internet, voice and data communication solutions, today announced that it has closed the acquisition of Atlanta-based SpeedFactory announced in a release dated March 29th, 2006.
As stated in an 8-K filing on April 11, 2006, SpeedFactory, Inc., a wholly owned subsidiary of NextPhase Wireless, Inc., acquired all of Synkronus, Inc.'s assets, excluding cash, pursuant to an Asset Purchase Agreement dated March 29, 2006 between SpeedFactory and Synkronus. The assets acquired by SpeedFactory comprise Synkronus' Internet service and connectivity business operated by Synkronus under the name "SpeedFactory." SpeedFactory paid $1,500,000 in cash for the assets at closing and did not assume any pre-closing liabilities from Synkronus.
CUSTOMER BASE GROWS BY 1100%
"SpeedFactory is a highly respected ISP, providing business-class DSL services to customers in Atlanta and the fast growing South-East region since 1998," said Robert Ford, NextPhase's President and CEO. "Together, we now provide a broad range of connectivity services to over 2500 customers in two of the fastest-growing regions of the country; Southern California and the South-East," added Ford.
REVENUE RUN RATE INCREASES TO $3.5M
Not only will the acquisition immediately add to our revenue and cash flow per share, it further strengthens our market-leading portfolio of connectivity products and services, and extends our geographic reach," said Ford. "With the contribution of the SpeedFactory acquisition starting in the first quarter of fiscal year 2007, we're now profitable and expect to see positive operating cash flow and much improved margins once the full integration is completed," added Ford.
COMPREHENSIVE PORTFOLIO OF CONNECTIVITY SOLUTIONS
In recent weeks, NextPhase has added Business-Class Digital Subscriber Line (DSL) services to its broad portfolio of connectivity solutions; announced the nationwide wireless 'last mile' capabilities of NextNode Virtual Networks™; signed a Letter of Intent with Onasi, Inc. (OnSat) to form a joint venture to provide integrated connectivity solutions, using satellite backhaul and wireless 'last mile' technologies, to rural US markets and developing markets internationally; signed an agreement with Communication Technology Services (CTS) for the nationwide provision of broadband connectivity installation and technical support services.
"This acquisition, together with our other recent announcements shows that we're committed to building a world-class, full-service connectivity company. Through our broad range of products and services, we now have the ability to deliver flexible, scalable, reliable and cost-effective connectivity solutions to business customers anywhere in North America, and to developing markets outside the US. Whether customers are located in established metropolitan areas, developing regions where growth is outpacing the infrastructure build-out or in rural communities, we're now able to deliver solutions that can adapt and evolve to their changing customer needs," added Ford.
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