I picked up 10k shares of DYTK this morning for .5650 on a spec play. I don't expect it to move right away, but the company does seem to be moving forward with business and not concerned about the delisting. They were delisted, due to an insider selling some shares in 03 without the proper papper work going to the sec. Here is the latest news out on the company and situation. Keep it on your radar. This is not a buy post, but to keep an eye on it in the future. Walk
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DynTek`s Securities Expected to Trade on NASD OTC
December 16, 2004 17:15:00 (ET)
IRVINE, Calif., Dec 16, 2004 /PRNewswire-FirstCall via COMTEX/ -- DynTek, Inc. (DYTK, Trade)(DYTK, Trade)(DYTK, Trade), a leading provider of professional technology services and IT security solutions, today announced that it has decided to voluntarily delist its securities from the Nasdaq SmallCap Market and to move to the NASD OTC Bulletin Board. The Company arrived at this decision subsequent to receipt of a deficiency letter from the Staff of the Nasdaq Stock Market, which stated that the Staff believes the Company did not comply with shareholder approval requirements in Marketplace Rule 4350(i)(1)(D)(i) with respect to certain sales of the Company's securities in 2003, including sales of the Company's shares by a former major shareholder over which the Company had no control.
"DynTek continues to believe that the Company acted in compliance with the Nasdaq shareholder approval requirements in the Marketplace Rule," stated Steve Ross, DynTek's chief executive officer. "However, the Staff has indicated that it does not agree with the Company's position, and we believe that the ongoing costs, distractions and uncertainties of a lengthy process to maintain the SmallCap listing are not warranted at this time. Such uncertainty does not benefit our shareholders, especially at a time when we are making significant progress on many business fronts. We feel that our stakeholders would be better served by channeling our resources into efforts that will accelerate the profitable growth of our company."
"With respect to such growth, we are tracking ahead of our $20 million revenue target for the current quarter ending December 31, 2004," Ross continued. "This would represent a 104% increase over the Company's revenues of $9.8 million from the same quarter last year, and a 43% increase in revenues from our most recent quarter ended September 30, 2004. We believe that the Company is on track to reach our previously announced targets of $100 million in revenues and profitability for calendar 2005. There should be no significant diminution in liquidity on the OTC Bulletin Board or a reduction in access to information by shareholders. We will continue to focus on building our business, meeting our targets, and perhaps later seek listing on the American Stock Exchange or Nasdaq National Market System, rather than going through a lengthy, expensive and uncertain process to maintain the SmallCap listing at this time."
DynTek's common stock, Series A Preferred Stock and Class A Warrants are expected to trade under the symbol DYTK on the OTC Bulletin Board, effective on or about December 20, 2004.
About DynTek
DynTek is a leading provider of professional technology services to government, education and mid-market commercial customers in the largest IT markets nationwide. The company provides solutions that address the critical business needs of organizations today, such as IT security, voice and data convergence (VOIP), enterprise access and technology management. Our practice areas incorporate an approach and methodology derived from more than 18 years of experience in the assessment, design, implementation, management and support of technology solutions. For more information, visit www.dyntek.com.
IRVINE, Calif., Dec 17, 2004 /PRNewswire-FirstCall via COMTEX/ -- DynTek, Inc. (DYTK, Trade)(DYTK, Trade)(DYTK, Trade), a leading provider of professional technology services and IT security solutions, today announced that it anticipates exceeding $20 million in revenues for the current quarter ending December 31, 2004, which would represent more than twice the revenues the company reported from the same period in the prior year.
"We are particularly pleased with the growth of our commercial business in the Western Region, which has been fueled by the recent acquisitions of Redrock Communications and Integration Technologies," said Steve Ross, DynTek's chief executive officer. "This new business, together with organic growth in other regions from state and local government clients, will enable the company to exceed $20 million in revenues for the current quarter ending December 31, 2004. This represents a 104% increase over the company's revenues of $9.8 million from the same quarter last year, and a 43% increase in revenues from our most recent quarter ended September 30, 2004."
"Based on these results and additional cross-selling synergies we are starting to see from our recent acquisitions, we believe the company is on track to meet its previously announced goal of $100 million in revenue and profitability in calendar 2005," Ross continued. "The December quarter has historically been a lower performing quarter, and we are pleased with results that indicate we are on track to exceed our targets."
Major commercial business wins in the Western Region thus far in December include the following:
* A Fortune 500 wireless communications provider selected DynTek to
provide several hundred thousand dollars in security solutions.
* Two major utilities selected DynTek to provide a broad range of
security solutions valued at more than one quarter million dollars.
* A leading supplier of defense electronics systems awarded DynTek a
$300,000 contract for advanced network infrastructure, voice-over-IP
technologies and professional services.
* A landmark casino in Las Vegas, Nevada, awarded DynTek a hundred
thousand dollar contract for advanced network infrastructure and
professional services.
"DynTek has extensive expertise in the primary segments that are driving IT demand -- voice-over-IP, security and access," continued Ross, "and we continue to win significant business in these segments -- particularly in the Western Region. We are also starting to benefit from the positive impact of providing additional, multi-disciplinary services for existing clients in other areas of the country. As we continue to provide successful solutions for our customers, we believe that positive financial trends will continue, and shareholder value will increase
AI
