Adding XNN to watchlist
IMO this looks like a good buy or at least a watch and wait for entry with the new orders of 2.9m and second Quarter earnings approaching week of may 17th its sitting near 52 week lows after public offering but could be a possible double in near future this is my opinion dont buy based off of my opinion always do your own DD
highlights of Previous news;
8:30a ET April 21, 2010 (Business Wire)
XENONICS HOLDINGS, INC. (NYSE Amex:XNN), a leading manufacturer of illumination systems for the military and safety agencies, today announced it has completed an agreement with institutional investors to sell 1,100,000 shares of its common stock at a price per share of $0.50. The gross proceeds of the offering are $550,000. The company also issued the investors 1,100,000 warrants to purchase shares in the company for five years. The warrants are exercisable six months after the closing of the offering at a price of $0.65.
This $550,000 completes the $2,000,000 financing which the company entered into with institutional investors. The company does not anticipate the need for any additional financing. The net proceeds of the offering will be used to build inventory to satisfy the pending demand for the company's products.
The closing of the offering is expected to take place subject to the satisfaction of customary closing conditions. Xenonics Holdings Inc. plans to use the net proceeds from the offering for fulfillment of product orders and general corporate purposes.
9:27a ET March 8, 2010 (Business Wire)
XENONICS HOLDINGS, INC. (NYSE AMEX:XNN) announced today that it has received purchase orders valued at a total of approximately $2.9 million from Aardvark Tactical, Inc. (ATI), Azusa, California, for Xenonics' NightHunter One high-intensity illumination devices to be included in ATI's non-lethal force protection kits for the U.S. Marine Corps. Shipments will begin in May.
Xenonics Announces First Quarter Results
7:30a ET February 16, 2010 (Business Wire)
XENONICS HOLDINGS, INC. (NYSE AMEX:XNN) announced today that revenue for the first quarter ended December 31, 2009 increased 255% to $1,255,000 compared to $354,000 for the first quarter of fiscal 2009. Gross profit increased 265% to $584,000 compared to $160,000 a year earlier. Operating expenses decreased 29% to $989,000 compared to $1,397,000 for the first quarter of the prior fiscal year. The net loss for the first quarter of fiscal 2010 narrowed to $405,000, or $0.02 per share, compared to a net loss of $1,296,000, or $0.06 per share, for the first quarter of fiscal 2009.
