MYCO DD
OS 72 million
Insider Ownership 50 million
Float 22 million
Insider ownership at .15 per share.
On October 22, 2003, a Director of the Company
purchased 666,667 preferred shares, series A, from the
Company at a price of $.15 per share. This represented
an investment of $100,000. The terms of the preferred
share purchase agreement include conversion rights to
common stock, on a one-for-one basis at any time
within a five-year term.
Revenue Growth, pre announced Q4:
fourth quarter 2003 revenue of $2.5MM with growth of
10%. Annually, Mycom Group revenue grew 8%, to $8.8MM
in 2003.
In 2003, Mycom's consulting and managed services
business grew 75% from $1.2MM to $2.1MM
CEO hinted at profitablility in Q4 when final numbers
are out in a PR stating "positive results".
Q3 Rev. 2.3 million
Q3 Net loss 63.2K
Q4 Rev 2.5 million
Q4 Net ???
First nine months 2003 compared to 2004
A net loss for the first nine months of 2003 totaling
$189.8K compared favorably to the $2,414.1K loss
recorded for the same period in 2002.
Current market cap is less than last 2 quarters revenue.
New product being launched in early 2004:
We are pleased with the development of our new
mycomPro(TM) mailMAXII spam and virus filtering
system. It is performing effectively in test and we
will be expanding the scope of testing in the near
future. We plan to introduce the new service during
the first quarter of 2004."
Will operate on Linux as well as Windows, and they have built in customers for the product through their consulting business.
CEO comments:
"Although we have not completed all of our closing and
audit activities for 2003, we can announce positive
performance for the fourth quarter. This performance
was very important because we are testing a new more
effective and easy to use spam and virus filtering
system that has been developed by Mycom during the
second half of 2003. We have devoted extensive
investment toward (R&D) product development and we
needed positive performance from our established
software and services businesses to support the
investment."
Mycom repositioned its services business to focus on the IT Security Category in February of 2003, with the acquisition of Maximize IT. The acquisition provided the base of technology for Mycom to develop and market its' anti-virus and spam filtering service, mycomPRO(TM) mailMAX and its' intrusion detection service, mycomPRO(TM) secureMAX. In 2003, Mycom's consulting and managed services business grew 75% from $1.2MM to $2.1MM
Final 2003 results expected in Feb. PR's regarding the new product launch, customers, etc expected to ramp up very soon.
Buzz
