Titan Global Holdings Announces Record $140 Million Revenue Guidance Forecast for Fiscal '07 10/27/2006
A Company Anticipates $17.5 Million EBITDA Due to Expanding Market Share and New Product Offerings from Leading Telecom Division
DALLAS, Oct 27, 2006 (BUSINESS WIRE) -- Titan Global Holdings, Inc. ("Titan") (OTCBB: TTGL), a high-growth diversified holding company, today released revenue guidance for fiscal 2007, projecting record-setting revenues in excess of $140 million, with an estimated $17.5 million in earnings before interest, taxes, depreciation and amortization ("EBITDA").
The forecasted growth reflects the continued expansion of Titan's telecommunications and technology portfolio of companies, through both internal growth and growth achieved through the already consummated Oblio Telecom Inc. acquisition, but excluding prospective acquisitions.
"We're extremely excited to provide this revenue and EBITDA guidance for fiscal 2007, which we believe is another strong indicator of the value and strength of our business units and the talent and vision of our management team," said Bryan Chance, President and Chief Executive Officer of Titan. "Based on the achieved historical performance of our flagship telecommunications division, as well as the acceleration of operations in our Electronics and Homeland Security division, we anticipate continued growth in fiscal 2007 above an already strong fiscal 2006."
Telecommunications Division
Oblio Telecom, Inc. ("Oblio"), Titan's principal telecommunications industry subsidiary, generated $89 million in revenues in 2006. This division is expected to generate approximately $100 million in fiscal 2007 revenue, accounting for over 70 percent of Titan's forecasted revenues.
Oblio, the second largest publicly-owned international telecommunications company focused on the prepaid space, leverages strategic agreements with Tier 1 telecommunications leaders Sprint and Level3. Oblio continues to expand its already strong nationwide distribution channels, and sells an estimated annual 35 million of its brand-name calling cards and wireless services at more than 60,000 retail outlets around the country.
"We expect Oblio to achieve double-digit growth in fiscal 2007," said Kurt Jensen, President and Chief Executive Officer of Oblio Telecom, Inc. "We anticipate that growth to come from our increasing market share in international prepaid products, which is one of the fastest-growing segments of the global telecommunications industry.
Titan Wireless Communications, Inc. ("T Wireless"), Titan's recently formed prepaid wireless communications subsidiary, is expected to generate approximately $15 million in fiscal 2007 revenue excluding new product offerings and roll-up type acquisitions.
T Wireless is a Mobile Virtual Network Operator ("MVNO"). The Yankee Group, a prominent market research firm, projects that the number of subscribers through MVNO's will exceed 30 million by 2010. Many MVNO providers are incurring substantial losses to acquire subscribers creating an opportunity to consolidate the MVNO marketplace.
"Our prudent approach to growth in the prepaid wireless sector will continue. While many MVNO competitors continue to accumulate significant losses to obtain subscribers, we will continue to focus on profitable growth," stated Mr. Jensen. "Shareholders can expect us to roll out additional high-growth potential MVNO product launches and to increase margins due to economies of scale, cost cutting, and more efficient cost structures from our Tier 1 telecommunications providers. Additionally, T Wireless will seek opportunities to consolidate subscribers as other MVNO providers exit the space."
Electronics and Homeland Security Division
Titan's Electronics and Homeland Security division generated a record $20 million in revenues in 2006. This division is expected to generate approximately $25 million in fiscal 2007 revenue excluding significant new product developments and acquisitions.
Titan's Electronics and Homeland Security division specializes in advanced manufacturing processes to provide quick-turn delivery of printed circuit board prototypes for high-margin markets including Homeland Security and leading high-tech clients. Additionally, Titan PCB East is Military 31032/55110 Certified, providing critical top certification for Homeland Security and military developers and contractors. This division was EBITDA and cash flow positive in Q3 2006 and Q4 2006 with record bookings in September 2006, the first month of Titan's fiscal 2007.
"Revenues from our Electronics and Homeland Security division grew to a record-setting $20 million in 2006, a 25 percent increased from 2005," said Curtis Okumura, President and Chief Executive Officer of Titan's Electronics and Homeland Security Division. "We anticipate carrying that momentum into fiscal 2007, as we continue to discover new ways to increase operating efficiencies and to reduce costs in both our facilities."
Corporate Summary
"Our highly proactive and seasoned management team has an overriding commitment to shareholder value," said David Marks, Chairman of Titan. "We remain focused on expanding revenue and EBITDA through organic growth and acquisitions that represent and deliver a clear value proposition for our shareholders."
"Our team is focused on delivering value in each Titan division fiscal year 2007," stated Bryan Chance, President and Chief Executive Officer of Titan Global Holdings, Inc. "Our guidance does not include the revenue and earnings impact from the one time recovery of FET and USF fees."
About Titan Global Holdings
Titan Global Holdings, Inc. ("Titan") (OTCBB: TTGL) is a high-growth diversified holding company with a dynamic portfolio of companies engaged in emerging telecommunications markets and advanced technologies. In its last fiscal year Titan generated in excess of $110 million in revenues on a consolidated basis.
Titan's Oblio Telecom Inc. ("Oblio") telecommunications subsidiary, based in Richardson, Texas, is a market leader in prepaid telecommunications products and the second largest publicly-owned international telecommunications company focused on the prepaid space. Oblio leverages strategic agreements with Tier 1 telecommunications leaders Sprint and Level3 to supply its brand-name prepaid calling cards. Annually Oblio sells an estimated 35 million of its brand-name prepaid calling cards through its established distribution channels estimated at more than 60,000 retail outlets.
Titan Wireless, Inc. ("T Wireless") is Titan's wireless subsidiary and is a mobile virtual network operator ("MVNO"). T Wireless sells its MVNO prepaid wireless products and wireless services through Oblio's established distribution channels.
Titan's Electronics and Homeland Security division specializes in advanced manufacturing processes to provide commercial production runs and quick-turn delivery of printed circuit board prototypes for high-margin markets including Homeland Security and high-tech clients.
Safe Harbor Statement Under the Private Securities Litigation Act of 1995 -- With the exception of historical information, the matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties. The actual future results of TTGL could differ significantly from those statements. Factors that could cause actual results to differ materially include risks and uncertainties such as the inability to finance the company's operations or expansion, inability to hire and retain qualified personnel, changes in the general economic climate, including rising interest rate and unanticipated events such as terrorist activities. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," the negative of such terms, or other comparable terminology. These statements are only predictions. Although we believe that the expectations reflected in the forward-looking statements are reasonable, such statements should not be regarded as a representation by the Company, or any other person, that such forward-looking statements will be achieved. We undertake no duty to update any of the forward-looking statements, whether as a result of new information, future events or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on such forward-looking statements. For further risk factors see the risk factors associated with our Company, review our SEC filings.
SOURCE: Titan Global Holdings, Inc.
Investor Relations: Trilogy Capital Partners Paul Karon, Toll-free: 800-592-6067 www.trilogy-capital.com
Viral Genetics' AIDS Study Results to Be Presented at Institute of Human Virology's 2006 International Meeting 10/30/2006
AZUSA, Calif., Oct 30, 2006 /PRNewswire-FirstCall via COMTEX News Network/ -- The results of Viral Genetics' (OTC Bulletin Board: VRAL) recent AIDS study of VGV-1 in South Africa will be presented at the Institute of Human Virology's (IHV) 2006 Annual International Meeting on November 17 in Baltimore, Maryland. The poster presentation focuses on the reduction of HIV viral load observed in a subset of patients after treatment with VGV-1 versus patients receiving placebo.
Viral Genetics' VGV-1 is a suspension of thymus nuclear protein that has been tested in several studies in HIV infected individuals. As previously reported, the 137-patient study showed statistically significant antiviral effects in treated subjects vs. placebo 100 days after the completion of dosing. As reported in the Company's poster presentation at the recent XVI International AIDS Conference, VGV-1 treated subjects also demonstrated apparent beneficial immunological changes when compared with placebo.
Results indicate statistically significant antiviral activity in some patients, no serious adverse events observed in relation to VGV-1, and a mechanism of action that may be markedly different than existing HIV therapies. Conclusions of the study also state that bioactivity of VGV-1 was confirmed.
Viral Genetics' next plans are to further determine the product's optimal dosing and to elucidate its mechanism of action.
Additional results and study data are available by request at info@viralgenetics.com. The poster will be made available on the company's website following the conference.
The World Health Organization estimates approximately 40 million people are now living with HIV. Even with the available treatments for AIDS, there are large numbers of people that need alternative therapies and hope remains that progress will be made in discovering new therapies that bolster patients' immune systems.
The 10th Anniversary of The Institute of Human Virology International Meeting has grown into one of the worlds leading HIV/AIDS conferences. Founded in 1996, IHV has positioned itself as one of the world's premier research and development facilities.
About VGV-1
VGV-1 is a therapy based on thymus nuclear protein which is extracted from bovine thymus tissue. As a type of immune-based therapy, it focuses on boosting the immune system to allow the body to fight HIV more efficiently. Discovered and developed by both Dr. Harry Zhabilov Sr. and Harry Zhabilov Jr., thymus nuclear protein technology has been studied in five human clinical trials for the treatment of HIV infection and AIDS.
About Viral Genetics
Viral Genetics, Inc. is a biotechnology company that discovers and develops immune-based therapies for HIV and AIDS using its thymus nuclear protein compound. This compound may have other potential applications for other infectious, autoimmune, and immunological deficiency diseases that the company intends to study in the future. Viral Genetics believes that VGV-1 represents a significant and unique approach to treating HIV due to the apparently novel mechanism, low toxicity profile, simple dosing regimen, and short-course of treatment. Online at www.viralgenetics.com
For additional information, please contact Kirsten Ayars at 805-452-7909. For investor inquiries, please contact Evan Pondel at 310-279-5973.
This news release contains forward-looking statements that involve risks and uncertainties associated with clinical development, regulatory approvals, and other risks described by Viral Genetics, Inc. from time to time in its periodic reports filed with the SEC. VGV-1 is not approved by the US Food and Drug Administration or by any comparable regulatory agencies elsewhere in the world. While Viral Genetics believes that the forward-looking statements and underlying assumptions contained therein are reasonable, any of the assumptions could be inaccurate, including, but not limited to, the ability of Viral Genetics to establish the efficacy of VGV-1 in the treatment of any disease or health condition and the development of studies and strategies leading to commercialization of VGV-1 in the United States. Therefore, there can be no assurance that the forward-looking statements included in this release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the forward-looking statements should not be regarded as a representation by Viral Genetics or any other person that the objectives and plans of Viral Genetics will be achieved.
SOURCE Viral Genetics, Inc.
Kirsten Ayars, +1-805-452-7909; or Investors, Evan Pondel, +1- 310-279-5973, both for Viral Genetics, Inc. http://www.viralgenetics.com
Copyright (C) 2006 PR Newswire. All rights reserved
Rockwell Announces US$4.4 Million Received for Sale of 152.11 Carat Gemstone Diamond From Durnpike's Alluvial Operations in South Africa 10/30/2006
VANCOUVER, BRITISH COLUMBIA, Oct 30, 2006 (MARKET WIRE via COMTEX News Network) -- Rockwell Ventures Inc. ("Rockwell" or the "Company") (TSX VENTURE: RVI)(OTCBB: RVINF) and Durnpike Investments (Pty) Limited ("Durnpike"), a private South African company, announce that a sale price of US$4.4 million, or US$29,123 per carat, was received for a 152.11 carat D-colour diamond that was recovered from the Wouterspan operations in early September. This stone was sold by sealed tender during the week of October 16. A picture of this exceptional gemstone is shown below.
The companies are also pleased to announce that excellent prices have been received for run of mine production at the Holpan/Klipdam operations north of Kimberley, South Africa, and for the Wouterspan production. Wouterspan is located on the Orange River to the west of Kimberley.
In September, 1,292.03 carats of diamonds were produced at Holpan/Klipdam, which sold for US$1,247,636.10. This is an average value of US$965.64 per carat.
A total of 1,229.09 carats were recovered from Wouterspan in September. The diamonds were sold for US$2,792,166.42 for an average value of US$2272.73 per carat. These numbers exclude the 152.11 carat gemstone.
John Bristow, President and COO of Rockwell commented, "We are encouraged by the strength of prices at the large stone - high quality end of the market and the great returns received from the most recent tenders. The 152.11 carat stone was the second 100 plus carat stone recovered at Wouterspan in 2006, and is a testament to the exceptional size and quality of diamonds recovered from the alluvial deposits of this area."
Rockwell and Durnpike have signed an Agreement in Principle with respect to the acquisition of four alluvial diamond properties, as described in a news release of June 30, 2006, including the Holpan/Klipdam and Wouterspan properties. Completion of the acquisition is subject to, among other things, receipt of the required regulatory approvals, and is now expected to occur in early November 2006.
For further details on Rockwell Ventures Inc., please visit the Company's website at www.rockwellventures.com.
John Bristow, President and COO
No regulatory authority has approved or disapproved the information contained in this news release.
Forward-Looking Statement
This release includes certain statements that may be deemed "forward-looking statements". Other than statements of historical fact all statements in this release that address future production, reserve or resource potential, exploration drilling, exploitation activities and events or developments that each Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. There is no certainty of the financing completing. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, changes in and the effect of government policies regarding mining and natural resource exploration and exploitation, availability of capital and financing, geopolitical uncertainty and political and economic instability, and general economic, and market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. For more information on Rockwell, Investors should review Rockwell's annual Form 20-F filing with the United States Securities and Exchange Commission www.sec.com and the Company's home jurisdiction filings that are available at www.sedar.com.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Contacts: Rockwell Ventures Inc. Investor Services (604) 684-6365 or 1-800-667-2114 (North America) (604) 684-8092 (FAX) Website: www.rockwellventures.com