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Re: SMF Trading post# 7532

Tuesday, 01/08/2008 11:15:18 AM

Tuesday, January 08, 2008 11:15:18 AM

Post# of 12444
Actually, there current revenues are not known. The only factual information (guidance) on revenues is from the following 8-k's over 1 year ago:

"Jan 2007:
Item 8.01 Other Events
During November and early December 2006, collections from the Company’s largest customer (the “Customer”) failed to conform to previous practice and contractual terms. As a result, the Company significantly reduced sales to the Customer to reduce exposure. In December 2006, the Customer informed the Company that certain expected financing would not be consummated until January 2007, and that payments on account would be deferred until that date. The Company immediately suspended service to the Customer.
As a result of the foregoing, and due to the delay in full implementation of certain other marketing and capacity enhancement plans, the Company will not report the increase in fourth quarter 2006 revenue that it had previously expected.
As previously reported, the Company’s cost reduction efforts involved the abandonment of certain infrastructure that was subject to long-term commitments. The Company has recently received demand letters from two infrastructure providers, and another demand letter from an unpaid unsecured traffic provider. The demand letters aggregate to approximately $1 million. The Company is in active negotiation with the other parties, seeking acceptable resolution of claims. However, additional unfavorable developments related to these claims would have a material adverse effect on the Company.
"
http://www.pinksheets.com/edgar/GetFilingHtml?FilingID=4872854

Just prior to this Jan 2007 8-k......GLBT issued this 8-k in November 2006:

"Finances and Operations Related Update


Due to the incomplete nature of its work associated with the 2003 to 2005 audits, discussed above, the Company is able to provide only limited financial statement information:

- the Company’s revenue for the third quarter of 2006 is expected to approximate $1.6 million, with the excess of revenue over direct costs of transmitting traffic approximating 2 to 3 percent.

- revenues for the fourth quarter of 2006 are expected to increase over the third quarter, and the percentage of revenue over direct costs of transmitting traffic is also expected to increase, largely due to a recent reorganization in the wholesale sales organization. The amount of such increases is not quantifiable at this stage due to the relatively recent nature of the sales department reorganization; however, in October the Company has noted an increase of revenue over direct costs of transmitting traffic, with the percentage in the wholesale product lines exceeding 6 percent for the month of October.

- revenues continue to be dominated by wholesale traffic, with contributions from the Company’s retail Voice Over Internet Protocol product lines immaterial.

- the Company is reviewing its product offerings, and currently intends to devote additional resources to wholesale offerings, while refining and reviewing its retail offerings. Due to the increased regulation in certain retail areas (e.g. Universal Service Fund and E911 requirements, etc.) and intense competition, certain retail product offerings may be curtailed or eliminated. Revenue contributions from the retail offerings are not expected to be significant until late in the second quarter of 2007.

- the Company’s cash consumption, excluding audit, audit related and certain professional expenses, has been reduced to approximately $160,000 per month.
"
http://www.pinksheets.com/edgar/GetFilingHtml?FilingID=4734679

These are the only facts related to revenues. Nothing else.
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