Hammer Fiber Optics Holdings Corp. (HMMR)

[sweet crude]

8K: HMMR moving close to profitable!

Revenues in the second quarter increased to $877 thousand from $52 thousand in the same period in the prior year, a 1,686% increase. Loss from operations decreased from $1.019 million in the same period in the prior year to $122 thousand in the second quarter of this fiscal year, an 88% decrease. The growth is mostly due to the acquisitions of 1stPoint Communications, Endstream Communications and Open Data Centers.


Although such revenues and growth are not guaranteed, the Company expects that growth in the short to medium term will come from the implementation of the wholesale voice network in Dominica, Jamaica and Sierra Leone, and then from revenues associated with wireless subscriptions and OTT services in those same markets as it investigates further opportunities in west Africa, the Eastern Caribbean and the United States.