Ultradata Sales Surge on Success Of Talking Road Navigator; Increased Cash Flow Permits Prepayment of Convertible Debt
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High-Tech Writers / Business Editors ST. LOUIS--(BUSINESS WIRE)--ULTR-- Ultradata Systems, Inc. (OTC Bulletin Board:ULTR) announced today that it has retired in full its outstanding Senior Convertible Notes. The Company prepaid nearly $300,000 within the past month in order to eliminate these securities. As a result, there are now outstanding no notes, derivatives or other securities convertible into Ultradata common stock, other than incentive stock options held by employees. Monte Ross, Ultradata's CEO, explained: "We retired the convertible notes as soon as we had available cash. The conversion feature of the notes has been a burden on the market for our common stock, and we are happy it is now eliminated." Ultradata's financial ability to prepay the notes was largely due to a surge in fourth quarter sales. The Company recently introduced a new product, the "Talking Road Navigator," and a major distributor was successful in marketing the product through television advertising. Management expects to report fourth quarter sales in excess of $1.7 million and annual sales for 2003 in excess of $2.8 million. In 2002, Ultradata recorded fourth quarter sales of $313,031 and annual sales of $1,741,556. Mr. Ross noted: "It is clear there is public acceptance of our new Talking Road Navigator. Even after a successful holiday selling season, we begin 2004 with a backlog of over $640,000 for this product alone. The talking feature makes the product more useful and yet easier to use than its predecessors. The continuing success of this product should enable Ultradata to be profitable in 2004." Ultradata Systems, Inc. is a leader in the field of hand-held electronic information systems. Based in St. Louis, MO, Ultradata Systems develops, manufactures and markets hand-held travel information computers, global positioning system (GPS) products and information systems used for locating destinations and trip planning. The company's lead product, the handheld electronic travel information guide, has sold more than three million units and is marketed through chain drug, mass and consumer electronic retail chains, home centers, the automotive aftermarket, cable TV direct marketers, premium incentive catalogs and other channels. These computers use Ultradata's patented data compression technology and proprietary database to provide directions to thousands of destinations and services along highways and in major metropolitan areas. This press release contains forward-looking statements within the meaning of applicable Federal securities laws. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or other changes. Readers are cautioned not to place undue reliance on these forward-looking statements. KEYWORD: MISSOURI INDUSTRY KEYWORD: AUTOMOTIVE TRAVEL SOFTWARE HARDWARE COMPUTERS/ELECTRONICS SOURCE: Ultradata Systems, Inc. CONTACT INFORMATION: Ultradata Systems Inc., St. Louis Ernest Clarke, 314-997-2250 eclarke@ultradatasystems.com
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ULTR - ULTRADATA SYS (OTCBB) Date Open High Low Last Change Volume % Change 01/09/04 0.2400 0.3200 0.2300 0.3200 +0.1200 87000 +60.00%
Composite Indicator Trend Spotter (TM) Buy
Short Term Indicators 7 Day Average Directional Indicator Buy 10 - 8 Day Moving Average Hilo Channel Buy 20 Day Moving Average vs Price Buy 20 - 50 Day MACD Oscillator Hold 20 Day Bollinger Bands Buy
Short Term Indicators Average: 80% - Buy 20-Day Average Volume - 34235
Medium Term Indicators 40 Day Commodity Channel Index Buy 50 Day Moving Average vs Price Buy 20 - 100 Day MACD Oscillator Buy 50 Day Parabolic Time/Price Sell
Medium Term Indicators Average: 50% - Buy 50-Day Average Volume - 29268
Long Term Indicators 60 Day Commodity Channel Index Buy 100 Day Moving Average vs Price Buy 50 - 100 Day MACD Oscillator Buy
Long Term Indicators Average: 100% - Buy 100-Day Average Volume - 29023
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the way they are holding the bid so low tells me someone is desparate to cover a short position-- somebody should post this one on rb
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IT'LL END UP THERE. I'VE HAD A LOT OF EMAILS AT HOME THE PAST COUPLE OF WEEKS FROM PEOPLE NOT ON ALLSTOCKS THAT HAVE JUST READ ABOUT MY GOOD FORTUNE AS OF LATE AND WANTED TO TALK TO ME. COUPLE OF THEM ARE SUSPICIOUS. CUT EM OFF.