This one has been going down hill and has been screaming sell for a while now. Put it on your watchlist as in my opinion, the tide could be turning soon for this company.
China and Southeast Asia
SOUTH SAN FRANCISCO, CA AND NEW YORK, NY -- (MARKET WIRE) -- 02/20/04
-- FinancialContent Inc.
(OTC BB: FCON), a leading provider of
financial data and business applications to online media and
financial services companies worldwide, today announced that the
company has been selected by KAMCO to deliver a broad range of online
financial products.
Headquartered in Kuwait, KAMCO signed a licensing agreement with
FinancialContent for a customized package of stock quotes, charts,
news, SEC filings, company profiles and historical data as well as
access to international economic and trade data. KAMCO represents
the first major client win for FinancialContent in the Middle East.
FinancialContent also unveiled plans to secure market data feeds from
leading exchanges in China and Southeast Asia. The company will
target businesses that service English-speaking clientele that track
and monitor investments in the Asian markets.
"Now that we are established in the United States, we can begin
leveraging our network of contacts in China, Taiwan, Thailand,
Malaysia and Singapore and license our solution to a much larger
audience," said Wing Yu, CEO of FinancialContent. "We have received
a number of overseas inquiries in the past, and we believe that it is
now the opportune time to pursue the Asian markets."
FinancialContent also recently engaged a consultant to explore
business development opportunities in Brazil and the rest of Latin
America.
A pioneer in online content integration, FinancialContent, Inc. is
one of the industry's leading content solution providers offering a
full suite of financial data deployable through an interactive online
platform. FinancialContent's flagship product Studio 3.5 is winning
rave reviews for the software's ease of use and speed of deployment.
For more information about Studio 3.5 and FinancialContent's complete
suite of financial data products, please contact
info@financialcontent.com.
About KAMCO
Headquartered in Kuwait, KAMCO is a leading asset management and
financial services firm offering a broad range of services including
mergers and acquisitions advice, underwriting, private placements,
strategy development and strategic planning, project and investment
evaluation, consulting and private equity. Its parent company,
Kuwait Projects Company, is among the largest holding companies in
the Middle East with ownership interests in a regional network of
major banks and financial institutions based in Kuwait, Bahrain,
Tunisia, Jordan and Latvia.
About FinancialContent, Inc.
FinancialContent is a leading content solution provider specializing
in the integration and delivery of financial data and tools into web
sites, corporate intranets and print media. The Company's mission is
to empower its clients with the ability to customize and manage their
own deployments. With over 200 deployments worldwide,
FinancialContent is rapidly growing its client base to include banks,
brokerages, credit unions, and application service providers, as well
as diversified media businesses and Fortune 500 companies. For more
information, please visit www.financialcontent.com. FinancialContent
is publicly traded on the over-the-counter market under the ticker
symbol FCON.
This news release may contain forward-looking statements made
pursuant to the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995. While these statements are meant to
convey to the public the company's progress, business opportunities
and growth prospects, readers are cautioned that such forward-looking
statements represent management's opinion. While management believes
such representation to be true and accurate based on the information
available to the company, actual results may differ materially from
those described. The company's operations and business prospects are
always subject to risks and uncertainties. Important facts that may
cause actual results to differ are set forth in FinancialContent,
Inc.'s periodic filings with the U.S. Securities and Exchange
Commission.
Contacts:
Wing Yu
FinancialContent, Inc.
ir@financialcontent.com
Corporate: 650.837.9850
Investor Relations: 650.504.8686
FinancialContent Posts 2nd Quarter Results; Revenues Increase 124%
Wednesday February 18, 8:00 am ET
SOUTH SAN FRANCISCO, CA--(MARKET WIRE)--Feb 18, 2004 -- FinancialContent Inc. (OTC BB:FCON.OB - News), a leading provider of financial data and business applications to online media and financial services companies worldwide, today announced its second quarter results for the period ended December 31, 2003.
ADVERTISEMENT
The Company reported significantly higher revenues attributed to the migration of Private Wire clients and recent client wins. Net revenues increased 124% to $232,128 for the quarter ended December 31, 2003 compared to $103,510 for the same period the previous year. Meanwhile, net revenues increased 129% to $447,173 for the six months ended December 31, 2003 compared to $195,466 for the same period the previous year.
"After adjusting for amortization and depreciation expenses, we posted our first cash flow positive quarter for the quarter ended December 31, 2003," said Wing Yu, CEO of FinancialContent. "This represents another important milestone in our Company's history."
The Company also disclosed significant improvements to its balance sheet. Assets increased to $1,355,958 as of December 31, 2003 from year-ago levels of $60,920. Liabilities decreased to $663,013 as of December 31, 2003 from year-ago levels of $1,414,636. Total stockholder's equity increased to a positive $692,945 as of December 31, 2003 from year-ago levels of negative $1,353,716, an increase of $2,046,661 resulting from an increase of paid in capital of $2,313,732.
The Company's working capital position improved by $827,274 from a negative $1,237,212 at December 31, 2002 to a negative $409,938 at December 31, 2003. The improvement in the Company's working capital position is primarily from an increase in cash on hand and a decrease in notes payables and other liabilities. As a result, the Company's current ratio improved to 0.38:1 for the period ended December 31, 2003 from a ratio of 0.025:1 for the same period the previous year.
"Our company is clearly well-positioned for growth and expects to deliver profitable results through the coming year," added Dave Neville, President of FinancialContent.
A pioneer in online content integration, FinancialContent, Inc. is one of the industry's leading content solution providers offering a full suite of financial data deployable through an interactive online platform. FinancialContent's flagship product Studio 3.5 is winning rave reviews for the software's ease of use and speed of deployment. For more information about Studio 3.5 and FinancialContent's complete suite of financial data products, please contact info@financialcontent.com.
About FinancialContent, Inc.
FinancialContent is a leading content solution provider specializing in the integration and delivery of financial data and business applications into web sites, corporate intranets and print media. The Company's mission is to deliver the industry's most cost-effective, high-reliability solutions combined with excellent customer service to its clients. With over 200 deployments worldwide, FinancialContent is rapidly growing its client base to include banks, brokerages, credit unions, and application service providers, as well as diversified media businesses and Fortune 500 companies. For more information, please visit http://www.financialcontent.com. FinancialContent is publicly traded on the over-the-counter market under the ticker symbol FCON.
This news release may contain forward-looking statements made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. While these statements are meant to convey to the public the company's progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. While management believes such representation to be true and accurate based on the information available to the company, actual results may differ materially from those described. The company's operations and business prospects are always subject to risks and uncertainties. Important facts that may cause actual results to differ are set forth in FinancialContent, Inc.'s periodic filings with the U.S. Securities and Exchange Commission.
Contact:
Contact:
Wing Yu
FinancialContent, Inc.
ir@financialcontent.com
650.837.9850
--------------------------------------------------------------------------------
Source: FinancialContent Inc.
Form 10QSB for FINANCIALCONTENT INC
--------------------------------------------------------------------------------
17-Feb-2004
Quarterly Report
Item 2. Management's Discussion and Analysis
We operate in a rapidly changing environment that involves a number of risks, some of which are beyond our control. Such risks, uncertainties and assumptions include, but are not limited to, the factors that we describe in the section entitled "Management's Discussion and Analysis" in the Form 10K for the year ended June 30, 2000. Forward-looking statements in this document and those made from time to time by us are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements concerning the expected future revenues or earnings or concerning projected plans, performance, product development, product release or product shipment, as well as other estimates related to future operations are necessarily only estimates of future results and there can be no assurance that actual results will not materially differ from expectations. As a result, the actual results may differ materially from those projected in the forward-looking statements.
FinancialContent, Inc., (the "Company") was incorporated in the State of Delaware on October 15, 1996. Through the auspices of our wholly owned subsidiary, FinancialContent Services, Inc., we provide a turnkey content management and delivery system that streamlines the process of aggregating and integrating the content into any platform. We assume responsibility for securing and arranging content feeds. We also take care of the normalization of disparate data formats into XML, thereby ensuring data integrity.
In the period ended December 31, 2003, our most significant corporate developments included:
o Completing the private placement from the sale of our Series
C preferred convertible stock;
o Posting our first cash flow positive quarter in our Company's
eight year history; and
o Opening a New York regional sales office in Manhattan.
We offer a suite of financial data and tools for clients seeking speed of deployment, simplicity, and reasonable pricing. The Company has dramatically improved the process of integrating and aggregating financial data by reducing implementation into a non-technical task.
We facilitate the process by which clients secure all the necessary rights and licenses relating to the use of financial data by offering a wide range of content included in the standard service as well as a wide range of premium content available a la carte. We also offer customization services and optimized deployment for customers with an existing Internet, intranet, or legacy infrastructure and with greater security and bandwidth needs. Such customization services are offered on a contract basis and come with the same aggressive implementation schedule, supporting documentation, and reliable service. Customization services are also handled on behalf of resellers and enterprise information portal service providers.
Content currently available for deployment includes:
o Quotes and Charts o Delayed stock quotes o Stock charts (historical) o Delayed SEC filings o Company profiles o Market snapshots o Watch list o International indices o Regional indices o Regional economic reports o Portfolio manager
o Market movers o Scrolling Ticker o Symbol Lookup o Company news o Market commentary o Top stories o Scrolling news o Investment glossary o Market humor o Market polls o Calculators o Discussion boards
Content in the development pipeline or securable through content sellers includes:
o Real-time stock quotes o Filtered news o Real-time SEC filings o Technical analysis charts o Advanced company profiles o 3rd party research reports o Earnings and estimates schedule o Insider trading information o Currency conversion tables o Government economic indicators o Industry news from over 5000 sources categorized into over 100 categories
We offer our product line through a Standard Package, an IR Package and Individual Solutions. The Standard Package consists of the 15 most popular content modules. The IR Package provides public companies a cost-effective method for placing investor relations content on their website, including company specific stock quotes, SEC filings and press releases. Individual Solutions include upgrades to premium content, and customization services and optimized deployment for clients with existing Internet, intranet, or legacy infrastructure, and with greater security and bandwidth needs.
We also empower clients with an online application that truly enables the customization of content. Clients can select from a set of templates, or build custom components to create their own templates. We guarantee standard integration in under a week. Average deployment time for the current client base is under two business days.
Once the Client has determined the need for content, engaging us generates an instant ROI given the fact that no time and resources are spent to secure the content. Furthermore, instant ROI is realized through the reduction or elimination of support staff usually required to build and maintain the hardware infrastructure.
From the client's perspective, the benefits of using our solution include:
o Usage-based pricing o True "click-and-publish" customization capabilities o Intuitive, seamless integration o Fully-branded hosted solutions o Reliable, scalable infrastructure o Speed to market o Outstanding customer support
The FinancialContent Services platform is a feature-rich, highly-scalable architecture that empowers clients with granular control over content, layout and presentation with changes updated in real-time. Clients have access to an online toolkit with control of both the private-label output and JavaScript modules that drive traffic to the private-label output. These modules can be deployed quickly and seamlessly to match the "look and feel" of any web or enterprise environment.
We aggregate content from multiple sources and normalizes the data into XML. Using server-side XSLT, the content is dynamically parsed to meet the client's layout and presentation requirements.
We essentially package financial data into discrete, manageable, interactive content modules that are delivered through an automated online platform or embedded into 3rd party enterprise environments. The content may be static or dynamically categorized, filtered, searchable, and enabled for web or wireless alerts. The content may also be personalized by individuals or customized by content administrators.
The online toolkits made available to clients subscribing to our service control both the private-labeled output and JavaScript content modules that link to the private-labeled page through our Studio 3.5 software platform. (The latest version of our online toolkit, Studio 3.5 was launched on August 26, 2003 and replaced version 3.0, which was first deployed in July 2002.) These modules can be deployed quickly and seamlessly to match the "look and feel" of the client's website or enterprise environment. The client never has to worry about administration or upkeep of the infrastructure because FinancialContent hosts both the content module and the private labeled page.
Studio 3.5 offers the following features:
o Enhanced granular customization over all visual and data elements o Template driven customizable Private Label Pages o Ability to manage multiple deployments or accounts o Ability to save and edit multiple versions of your solution o Extensible framework using industry standard XML and XSLT o Java-based backend optimized for robust deployment o Fully modular architecture o Fully scalable to accommodate new or custom content o Fastest and most reliable infrastructure on the market o Charting capabilities o Currency tools
We maintain a robust and scalable architecture to ensure 99.999% uptime against full system failure. The system is designed to be fault-tolerant with redundant connections to Internet backbones. Monitored 24/7, it has been designed to provide clients with reliability and performance.
We currently deploy our private label solution to approximately global companies maintaining either online presence and/or intranet platforms. We sell our services directly to businesses that in turn conduct business as retail financial channels, subscription services, internal knowledge databases, value-added design services, and investor relations packages. Clients pay a modest setup fee, followed by monthly subscription fees based on usage. We have maintained a 95% client retention rate since our commercial launch in February 2001. We also assist clients with business development opportunities, such as introductions to sponsors and co-marketing and/or reselling of end applications and web destinations.
The client base represents a cross-section of many online businesses, including financial services providers, and new media publishers. We also work with clients to re-package their products into a bundle of services specific to their respective customers.
Our service is deployed to the following notable companies:
o A.B. Watley - brokerage firm o Advest - financial services provider o Bayer Corporation - international healthcare and chemicals group o Black Enterprise - print media company and online community o eMap - European publisher and media company o Entrust Capital - investment bank o Friedman Billings Ramsey (FBR)- investment bank o Jackson State Bank - regional bank o Market Wire (f.k.a. Internet Wire) - company news distributor o Red Herring - online media company o San Francisco Chronicle - online and print media company o ValueRich - lifestyle and investment publication o Wall Street Reporter - stock analysis company
Our objective is to be the industry's preferred integrator of financial data and tools. Key elements of our strategy include:
o Targeting Vertical Markets. We target businesses in industries that require robust online market analysis tools and financial information on their web sites. We have developed and will continue to develop content packages targeting specific industries. We focus our sales and marketing efforts across many sectors, including, but not limited to, traditional and online brokerage firms, commercial banks, asset managers, web portals, media companies, electronic communication networks, and insurance companies.
o Developing State-of-the-Art Technology. We intend to continue to develop and market innovative products and services to attract and retain clients. We plan to migrate our JavaScript-based editor to a pure Java version to ensure compatibility with the latest browsers. We also work on developing new delivery and caching systems to maximize the scalability and availability of the data delivery service.
o Pursuing Strategic Alliances. We intend to continue building our sales and marketing efforts and technology development, and to gain access to compelling content, applications and functionality, through strategic alliances. We consider acquisitions of businesses that can complement our products and services, provide access to new markets, and increase profit margins.
Target Markets:
o Web Portal and New Media Companies. Internet portals and new media companies either create proprietary content or aggregate content from various sources to attract and retain visitors. Most of these sites include financial content as one of the key content elements included for this purpose. Many of these sites prefer to have a solution that can be private labeled with relative ease.
o Enterprise Information Portals. Major corporations are increasingly using intranet software, called enterprise information portals (EIPs), to manage widely-dispersed content that is generated internally or secured from 3rd party providers. EIPs are designed to maintain control, ensure security, and improve productivity for its users. EIPs generally target customers in specific vertical or industry niches, such as telecommunications providers, legal firms, and insurance companies. The financial content components are outsourced by the EIPs to companies like FinancialContent Services to leverage the company's expertise in financial data management.
o Financial Services Firms. Many financial services firms, including brokerages, commercial banks and credit unions are beginning to offer full scope financial portals and brokerage services. Banks in particular are developing more comprehensive financial solutions for their consumers and will expand their offerings to include investment financial information and analytical tools. Our technology is able to accommodate many of the smaller boutique firms that do not necessarily have a large technical staff, but seek depth of content in order to compete on an equal footing against established, better-funded companies.
o Mutual Funds/Asset Management Firms. These companies typically have an established web presence and license specific applications and functionality. The business objective of these clients is to differentiate themselves with a more compelling user experience or by offering a more cost effective data solution for its advisors. Our technology is able to accommodate many of the smaller boutique firms that do not necessarily have a large technical staff, but seek depth of content in order to compete on an equal footing against established, better-funded companies.
o Investor Relations Department and Firms. Corporations either maintain their own corporate investor relations web pages or outsource them to investor relations firms in order to foster positive investor relations. Typically, these pages include the company's specific stock quote, fundamental data and access to SEC reports. Our technology allows a non-technical investor relations assistant to maintain the company's corporate website in a timely manner.
We are engaged in a very partnership-intensive industry as financial data is compiled from a multitude of sources. These partners help add depth and breadth to the company's product offering, and are possible opportunities for the company to become value-added resellers on behalf of these partners. Key content partners include Interactive Data Corp, Briefing.com, Internet Wire, PR Newswire, StreetInsider, SSD Data Service, providing a range of content that includes stock quotes, news, company profiles, historical data, and more. All strategic partnerships are contractual and have varying costs, duration, and revenue sharing arrangements. Acquisition of new content partners is an ongoing business development effort for us.
We are engaged in partnerships that can extend the reach of our products. Partners, such as enterprise information portals, provide a software platform for the delivery of FinancialContent Services modules. These partners assume the responsibility of marketing and selling the modules allowing us to focus on the development and delivery of the modules. All strategic partnerships are contractual and have varying costs, duration, and revenue sharing arrangements. Acquisition of new strategic partners is an ongoing business development effort for us.
We market our products through direct contact with webmasters, content managers, and members of the press and Internet media. Since we get exposure simply by being deployed, the company expects viral and brand marketing to continue contributing to the company's growth and acquisition of new customers.
We also maintain a number of showcase websites for the purpose of attracting inbound inquiries. Potential clients and the general public may access the websites free of charge. We do not intend to invest any resources into the marketing of these websites. The websites help create company awareness, generate initial client contacts, and are expected to continue generating inbound inquiries.
FinancialContent Services is constantly improving the depth and breadth of its content offering and the capabilities of its toolkit.
o Development Based Upon Client Needs. We maintain close relationships with our clients to gain feedback and to ascertain their needs. Requests made by existing clients receive the highest priority in the development process.
o Development Based upon Anticipated Market Needs. FinancialContent Services anticipates market needs by staying current with industry news and trends, and identifying features that are offered by competing companies.
o Development Based Upon Sheer Innovation. We continue to improve our online toolkit, which sets our offerings apart from all of our competitors. We offer the industry's most powerful integration tool for webmasters that incorporate the latest recommendations drawn from independent research and user tests.
Results of Operations for the three months ended December 31, 2003 and 2002
Revenues increased to approximately $232,128 for the three months ended December 31, 2003, from approximately $103,510 for the three months ended December 31, 2002. This more than doubling of our revenues is attributed to the steady and ongoing growth of our business over the last year, but most notably from revenues generated from the client contract rights we acquired from CNET Network, Inc.'s ("CNET") Private Wire Division, which acquisition we finalized on July 18, 2003. CNET's Private Wire Division, like FinancialContent's services, provided a financial channel solution to Web sites and print publications. We recognize income from FinancialContent Service's monthly subscription based fees and related customization charges upon collection.
Business Development. Business development expense increased to $1,000 for the three months ended December 31, 2003, from $0 for the same period in the prior year. This increase resulted from attendance fees paid to tradeshow vendors. We anticipate significantly increasing our attendance at trade shows in the future which will correspondingly increase our business development expense.
General and administrative. General and administrative expenses decreased to approximately $213,019 for the three months ended December 31, 2003 from approximately $250,910 for the three months ended December 31, 2002. In the three month period ended December 31, 2002, we were amortizing the value of stock issued to employees under the 2002 Executive and Officer Retention and Recognition Plan valued at approximately $518,000 in January of 2002 over a period of one year at an amount of approximately $129,542 each quarter which has now been concluded. Thus, for the three month period ended December 31, 2003, we are no longer amortizing the value of the stock issued to employees under such Plan. Thus, the general and administrative expense for this quarter more accurately reflects our general and administrative costs on a cash flow basis. In mid-December, we opened a New York office staffed with a full-time salesperson, which combined with our plans to hire additional personnel will contribute to an increase in our general and administrative expenses over the next year.
Amortization and depreciation. Amortization and depreciation expenses increased slightly to approximately $6,415 for the three months ended December 31, 2003, from approximately $3,290 for the three months ended December 31, 2002. Property and equipment is being depreciated over the estimated useful life of the related assets, generally three to seven years using the straight-line method.
Other income (loss). Net other loss was approximately $52,623 for the three months ended December 31, 2003, as compared to net other loss of $13,354 for the three months ended December 31, 2002. The increase was the result of a $50,000 payment payable under the loan facility agreement entered into by the Company in July 2003, under which the lender has guaranteed over the course of one year to lend the Company money upon demand being made by the Company. In July 2003, the Company borrowed $175,000 under the loan facility agreement.
Income taxes. As we have stated before, we have not recorded our income tax benefit of approximately $4 million primarily due to loss carry forwards from continuing operations. Net operating loss carryforwards of approximately $11 million may be used to offset future United States income taxes and which begin to expire in 2019. A valuation allowance was recorded due to the uncertainty surrounding the realization of deferred tax assets.
Liquidity and Capital Resources
Though we posted our first cash flow positive quarter for the period ended December 31, 2003 in our Company's eight year history. However, there are no assurances that this will continue. In the past, our revenues have been insufficient to cover cost of revenues and operating expenses. Therefore, we have been dependent on private placements of our common and preferred stock securities and loans from private investors. There can be no assurances that revenues will continue to meet our cash needs, and if not whether private or other capital will continue to be available, or that a sufficient amount of our common and preferred stock or other securities can or will be sold, or that any common stock purchase options/warrants will be exercised to fund our operating needs. If adequate funds are not available or are not on terms acceptable to us, we may be unable to continue our business, sales or marketing plan, respond to competitive forces or take advantage of perceived business opportunities which could have a material adverse effect on our business, financial condition and operating results.
For the three months ended December 31, 2003, we sustained operating losses of $5,750 compared to operating losses of $183,369 for the three months ended December 31, 2002. The decrease in operating losses of $177,619 was due primarily to an increase in net revenues of $128,618, a decrease in costs of revenues of $15,235, and a decrease in general and administrative expenses of $37,891. By disregarding amortization and depreciation expenses, the Company had its first cash flow positive quarter in the amount of $665 for the quarter ended December 31, 2003, compared to a cash flow loss of $180,079 for the same period last year.
Net cash provided by financing activities was $925,603 for the six months ended December 31, 2003 compared to $95,689 for the six months ended December 31, 2002. This increase of $829,914 over the prior period was the result of monies raised from the private placement of our Series B and C preferred stock in the amount of $1,252,251, offset by payments made on amounts due to related parties of $548,648.
The Company had a total stockholders' equity of $692,945 on December 31, 2003 compared to stockholders equity of negative $1,353,716 on December 31, 2002,an increase of $2,046,661 resulting from an increase of paid in capital of $2,313,732.
As of December 31, 2003, our working capital position improved by $827,274 from a negative $1,237,212 at December 31, 2002 to a negative $409,938 at December 31, 2003. The improvement in our working capital position is primarily from an increase in cash on hand and a decrease in notes payables and other current liabilities. As a result, the Company's current ratio improved for the period ended December 31, 2003 to 0.38:1, from a ratio of 0.025:1 for the same period last year.
FinancialContent Clients Named Forbes Magazine's "Best of the Web"
Monday February 9, 9:40 am ET
SOUTH SAN FRANCISCO, CA--(MARKET WIRE)--Feb 9, 2004 -- FinancialContent Inc. (OTC BB: FCON), a leading provider of financial data and business applications to online media and financial services companies worldwide, wishes to congratulate our clients who were recognized by Forbes Magazine as the "Best of the Web" in various investing categories.
ADVERTISEMENT
Forbes gave top honors to FinancialContent client Biospace in the Biotech category, citing it as a "comprehensive portal [that] keeps you on top of the field." Praised for its original content and site organization, CNET Investor received recognition in the Financial Portal category. Financial holding company A.B. Watley was nominated "Best of the Web" in the Hyperactive Traders category as well as the Online Brokers category for its first-rate online content offerings.
"Forbes Magazine is a highly-respected voice in the world of finance and investments whose analysis and opinions are widely valued by so many," said Wing Yu, CEO of FinancialContent.
"We are thrilled to have our clients acknowledged as online leaders in their industries," said Gregg Fidan, VP of Product Development. "The recognition reinforces our commitment to provide our clients with content of the highest quality and reliability and to accelerate the development schedule for new content."
A pioneer in online content integration, FinancialContent, Inc. is one of the industry's leading content solution providers offering a full suite of financial data deployable through an interactive online platform. FinancialContent's flagship product, Studio 3.5, is winning rave reviews for the software's ease of use and speed of deployment. For more information about Studio 3.5 and FinancialContent's complete suite of financial data products, please contact info@financialcontent.com.
About FinancialContent, Inc.
FinancialContent is a leading content solution provider specializing in the integration and delivery of financial data and tools into web sites, corporate intranets and print media. The Company's mission is to empower its clients with the ability to customize and manage their own deployments. With over 200 deployments worldwide, FinancialContent is rapidly growing its client base to include banks, brokerages, credit unions, and application service providers, as well as diversified media businesses and Fortune 500 companies. For more information, please visit www.financialcontent.com. FinancialContent is publicly traded on the over-the-counter market under the ticker symbol FCON.
This news release may contain forward-looking statements made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. While these statements are meant to convey to the public the company's progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. While management believes such representation to be true and accurate based on the information available to the company, actual results may differ materially from those described. The company's operations and business prospects are always subject to risks and uncertainties. Important facts that may cause actual results to differ are set forth in FinancialContent, Inc.'s periodic filings with the U.S. Securities and Exchange Commission.
Contact:
Contacts:
Wing Yu
FinancialContent, Inc.
ir@financialcontent.com
650-837-9850
--------------------------------------------------------------------------------
eAgency Systems Selects FinancialContent for Stock Market Data Solution
Tuesday January 27, 7:30 am ET
SOUTH SAN FRANCISCO, CA and NEWPORT BEACH, CA--(MARKET WIRE)--Jan 27, 2004 -- FinancialContent (OTC BB: FCON), a leading provider of financial data and business applications to online media and financial services companies worldwide, today announced that the company has been selected by eAgency Systems to incorporate stock market data into applications for the insurance industry.
FinancialContent will deliver a complete suite of stock market data and tools for seamless integration into eAgency's hosted application service. The solution, which will initially be deployed at http://www.fhrimember.org, features stock quotes, charts, news, SEC filings, company profiles and historical data as well as regional economic reports, investment glossaries, currency data, and more.
ADVERTISEMENT
"We were seeking a partner that would enable us to ramp up quickly and seamlessly," said Tim Allard, CTO of eAgency. "After much due diligence, we selected FinancialContent to deliver a cutting-edge stock market data solution that also turned out to be very cost-effective."
eAgency is a wireless Sales Force Automation and Customer Relationship Management provider serving the insurance industry.
"This deployment represents an exciting opportunity for our company to work with a leader in the insurance applications services industry and to demonstrate the flexibility of our product as we expand into new verticals," said Wing Yu, CEO of FinancialContent.
"I am very pleased with the product. It is by far the best content integration platform I've seen on the market," added Mr. Allard.
A pioneer in online content integration, FinancialContent, Inc. is one of the industry's leading content solution providers offering a full suite of financial data deployable through an interactive online platform. FinancialContent's flagship product, Studio 3.5, is winning rave reviews for the software's ease of use and speed of deployment. For more information about Studio 3.5 and FinancialContent's complete suite of financial data products, please contact info@financialcontent.com.
About eAgency Systems
Established in 2000 and based in Newport Beach, CA, eAgency Systems draws on over eleven years of insurance industry and technology expertise to develop and implement advanced communication and customer support systems for the insurance industry. These solutions have proven track records for increasing sales revenue, decreasing market conduct issues, and providing insurance companies more control over their business. In fact, our award-winning suite of products and services are currently being used to recruit and support thousands of insurance agents across the United States. For more information, please visit http://www.eagency.com.
About FinancialContent, Inc.
FinancialContent is a leading content solution provider specializing in the integration and delivery of financial data and tools into web sites, corporate intranets and print media. The Company's mission is to empower its clients with the ability to customize and manage their own deployments. With over 200 deployments worldwide, FinancialContent is rapidly growing its client base to include banks, brokerages, credit unions, and application service providers, as well as diversified media businesses and Fortune 500 companies. For more information, please visit www.financialcontent.com. FinancialContent is publicly traded on the over-the-counter market under the ticker symbol FCON.
This news release may contain forward-looking statements made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. While these statements are meant to convey to the public the company's progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. While management believes such representation to be true and accurate based on the information available to the company, actual results may differ materially from those described. The company's operations and business prospects are always subject to risks and uncertainties. Important facts that may cause actual results to differ are set forth in FinancialContent, Inc.'s periodic filings with the U.S. Securities and Exchange Commission.
Contact:
Contacts:
Wing Yu
FinancialContent, Inc.
ir@financialcontent.com
650-837-9850
Tim Allard
eAgency Systems Inc.
info@eagency.com
949-253-9131
--------------------------------------------------------------------------------
Source: FinancialContent Inc.
AreaGuides.net Renews Licensing Agreement With FinancialContent
Thursday January 15, 12:01 am ET
SOUTH SAN FRANCISCO, CA--(MARKET WIRE)--Jan 14, 2004 -- FinancialContent, Inc. (OTC BB: FCON), a leading provider of financial data and business applications to online media and financial services companies worldwide, today announced that AreaGuides.net has renewed its licensing agreement with the Company for a third consecutive year.
ADVERTISEMENT
FinancialContent deploys a comprehensive suite of stock market data and tools across AreaGuides.net and its network of online city guides and web resources for the travel industry. AreaGuides.net receives over 1 million visitors each month to its network of 39,000 destination sites while providing cost-effective marketing and advertising solutions to online businesses.
"We remain as committed as ever in bringing together the most compelling content to entrepreneurs and business travelers," explained Shane Brinkerhoff, VP of Business Development for AreaGuides.net. "FinancialContent has always been an integral part of the overall online experience for our users."
"We, in turn, renew our commitment to AreaGuides.net to deliver nothing less than the industry's most reliable and robust solution for private-label financial channels," said Wing Yu, CEO of FinancialContent.
A pioneer in online content integration, FinancialContent, Inc. is one of the industry's leading content solution providers offering a full suite of financial data deployable through an interactive online platform. FinancialContent's flagship product Studio 3.5 is winning rave reviews for the software's ease of use and speed of deployment. For more information about Studio 3.5 and FinancialContent's complete suite of financial data products, please contact info@financialcontent.com.
About AreaGuides.Net
AreaGuides.Net is an Application Service Provider (ASP), which specializes in platform development and content aggregation for the creation of local area guides and portals. Covering over 39,000 cities worldwide, AreaGuides.Net is one of the fastest growing networks of community portals on the Internet providing over 1,000,000 visitors a month with access to compelling localized content.
About FinancialContent, Inc.
FinancialContent is a leading content solution provider specializing in the integration and delivery of financial data and business applications into web sites, corporate intranets and print media. The Company's mission is to deliver the industry's most cost-effective, high-reliability solutions combined with excellent customer service to its clients. With over 200 deployments worldwide, FinancialContent is rapidly growing its client base to include banks, brokerages, credit unions, and application service providers, as well as diversified media businesses and Fortune 500 companies. For more information, please visit http://www.financialcontent.com. FinancialContent is publicly traded on the over-the-counter market under the ticker symbol FCON.
This news release may contain forward-looking statements made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. While these statements are meant to convey to the public the company's progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. While management believes such representation to be true and accurate based on the information available to the company, actual results may differ materially from those described. The company's operations and business prospects are always subject to risks and uncertainties. Important facts that may cause actual results to differ are set forth in FinancialContent, Inc.'s periodic filings with the U.S. Securities and Exchange Commission.
Contact:
Contacts:
Wing Yu
FinancialContent, Inc.
ir@financialcontent.com
650-837-9850
--------------------------------------------------------------------------------
Source: FinancialContent Inc.
Advest, Inc. Engages FinancialContent for Financial Data and Tools
Tuesday January 13, 6:00 am ET
SOUTH SAN FRANCISCO, CA and NEW YORK, NY--(MARKET WIRE)--Jan 13, 2004 -- FinancialContent, Inc. (OTC BB: FCON), a leading provider of financial data and business applications to online media and financial services companies worldwide, today announced the delivery of a complete suite of online financial data and tools to Advest, Inc., one of the country's leading regional financial services firms.
Advest, Inc. will use FinancialContent's Studio 3.5 platform to expedite the integration of a variety of financial data into its corporate website at http://www.advest.com, as well as into the website of its subsidiary company, Boston Advisors, Inc.
ADVERTISEMENT
"The online business segment represents an important growth area for Advest," said Shawn Beatty, E-Business Project Coordinator for Advest, Inc. "By partnering with FinancialContent, we gain ready access to a flexible tool that enables us to place market data and tools on demand across our online properties."
"Advest is recognized by the financial services industry as a leader in financial advice and asset management," said Wing Yu, CEO of FinancialContent. "Naturally, we are very excited about being selected by Advest and look forward to the opportunity to deploy for yet another showcase client."
A pioneer in online content integration, FinancialContent, Inc. is one of the industry's leading content solution providers offering a full suite of financial data deployable through an interactive online platform. FinancialContent's flagship product Studio 3.5 is winning rave reviews for the software's ease of use and speed of deployment. For more information about Studio 3.5 and FinancialContent's complete suite of financial data products, please contact info@financialcontent.com.
About Advest, Inc.
Advest, Inc., with headquarters in Hartford, CT, is one of the country's leading regional financial services firms. The company provides financial, securities brokerage, trading, investment banking, trust, and other advisory services to its clients from more than 100 offices in 18 states and the District of Columbia. Advest, a member of the New York, American, and other principal exchanges, is a member of The MONY Group Inc. MONY, an insurance and financial services firm based in New York City with over $55 billion in assets under management, was founded in 1842; its focus is to help consumers meet their financial protection and asset accumulation needs.
About FinancialContent, Inc.
FinancialContent is a leading content solution provider specializing in the integration and delivery of financial data and tools into web sites, corporate intranets and print media. The Company's mission is to empower its clients with the ability to customize and manage their own deployments. With over 200 deployments worldwide, FinancialContent is rapidly growing its client base to include banks, brokerages, credit unions, and application service providers, as well as diversified media businesses and Fortune 500 companies. For more information, please visit http://www.financialcontent.com. FinancialContent is publicly traded on the over-the-counter market under the ticker symbol FCON.
This news release may contain forward-looking statements made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. While these statements are meant to convey to the public the company's progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. While management believes such representation to be true and accurate based on the information available to the company, actual results may differ materially from those described. The company's operations and business prospects are always subject to risks and uncertainties. Important facts that may cause actual results to differ are set forth in FinancialContent, Inc.'s periodic filings with the U.S. Securities and Exchange Commission.
Contact:
Contacts:
Wing Yu
FinancialContent, Inc.
ir@financialContent.com
650-837-9850
Robert J. Fraleigh
Senior Vice President
Advest, Inc.
Corporate Marketing and Communications
860-509-1000
--------------------------------------------------------------------------------
Source: FinancialContent Inc.
FinancialContent Updates Mission Statement and Reveals Strategic Outlook for 2004
Monday January 12, 6:00 am ET
An Open Letter From FinancialContent to the Investment Community
SOUTH SAN FRANCISCO, CA and NEW YORK, NY--(MARKET WIRE)--Jan 12, 2004 -- FinancialContent Inc. (OTC BB: FCON), a leading provider of financial data and business applications to online media and financial services companies worldwide, today announced its new mission statement and revealed its strategic outlook for 2004.
ADVERTISEMENT
We are pleased to have this opportunity to introduce to the investment community a bolder and more exciting FinancialContent, a company that is poised for dramatic growth and is intent on becoming the leader in private-labeled financial data solutions. We will preface our discussion by highlighting our recent achievements. Next, we will articulate our new mission statement and its underlying objectives. Finally, we will reveal our strategic outlook for 2004 by identifying the key goals and initiatives that will drive FinancialContent toward continued profitability and revenue growth.
Recent Achievements
Over the summer of 2003, we acquired CNET's Private Wire unit and doubled the size of our client base. We also doubled our annualized revenues enabling us to reach breakeven on a cash-flow basis starting September 2003. We upgraded our software platform and released Studio 3.5 which featured more datasets and functionalities while positioning the product for enterprise-level deployments. In order to target and penetrate the financial services community on Wall Street, we finished the year by opening our New York regional office headed by industry veteran Darryl Murphy.
Last week, we announced the successful completion of a $1 million private placement. This infusion of capital enabled us to retire all long-term debt while ensuring that we became sufficiently capitalized to pursue our marketing and sales initiatives for 2004. We announced the addition of ValueRich and Hispanic Business to our client roster that now includes Biospace, Boston Globe, CNET Networks, Red Herring, and San Francisco Chronicle. We also announced a strategic partnership with FindWhat.com, a leading developer and provider of performance-based marketing services for the Internet. Combining our product with FindWhat.com's contextual advertising solution enabled us to begin securing contracts with Top 100 broadband and media companies.
New Mission Statement
Our mission at FinancialContent is to deliver the industry's most cost-effective, high-reliability solutions combined with excellent customer service to its clients. The underlying objectives of the new mission statement are twofold: to deliver the best value proposition to its clients and to maximize shareholder value.
Strategic Outlook for 2004
Looking ahead, we will focus first and foremost on achieving continued profitability and revenue growth. We intend to accomplish this by aggressively pursuing and identifying key verticals and geographical markets that will serve as the primary drivers for revenue growth. We believe that the economic recovery and an increase in information technology spending in the financial services sector will contribute to this revenue growth.
We will continue the expansion of offices in key locations that will maximize our sales, marketing and customer service efforts. Along with a renewed push for channel partnerships, this expansion initiative is intended to give us a pervasive presence throughout the United States and abroad.
We plan to continue upgrading the Studio 3.5 software platform, including the development of interactive programs using Flash MX, the addition of fundamental data from new content vendors, and the integration of new datasets for the Canadian and European markets.
We will remain receptive to a strategy of mergers and acquisitions as well as revenue sharing alliances that are accretive to earnings and can maximize shareholder value.
In addition, we will work to raise our profile in the investment community to help ensure that our accomplishments are fully reflected in our share price. We strongly believe that our company represents an excellent long-term investment opportunity driven by revenue growth, strong management, and sound fundamentals. We will embark on a vigorous road show schedule with the goal of reaching out to both retail and institutional investors and eventually attracting analyst coverage. We will strive to secure better access to capital markets. Our long-term goal is to obtain a listing on a senior exchange and generate a greater institutional following.
Most importantly, we will strengthen our investor relations program in order to maintain an open channel of communication with you, our shareholders. For the last three years of support and encouragement, we thank you. We sincerely welcome your suggestions and feedback and invite you to become more involved with the growth and future of FinancialContent.
Respectfully,
Wing Yu
CEO, FinancialContent, Inc.
ir@financialcontent.com
650.837.9850
About FinancialContent, Inc.
FinancialContent is a leading content solution provider specializing in the integration and delivery of financial data and business applications into web sites, corporate intranets and print media. The Company's mission is to deliver the industry's most cost-effective, high-reliability solutions combined with excellent customer service to its clients. With over 200 deployments worldwide, FinancialContent is rapidly growing its client base to include banks, brokerages, credit unions, and application service providers, as well as diversified media businesses and Fortune 500 companies. For more information, please visit http://www.financialcontent.com. FinancialContent is publicly traded on the over-the-counter market under the ticker symbol FCON.
This news release may contain forward-looking statements made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. While these statements are meant to convey to the public the company's progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. While management believes such representation to be true and accurate based on the information available to the company, actual results may differ materially from those described. The company's operations and business prospects are always subject to risks and uncertainties. Important facts that may cause actual results to differ are set forth in FinancialContent, Inc.'s periodic filings with the U.S. Securities and Exchange Commission.
Contact:
Contact:
Wing Yu
FinancialContent, Inc.
ir@financialcontent.com
650.837.9850
--------------------------------------------------------------------------------
Source: FinancialContent Inc.
FinancialContent Announces Strategic Partnership with FindWhat.com
Wednesday January 7, 7:00 am ET
FinancialContent Launches Enhanced Financial Channel Solutions with Contextual Advertising Products
SOUTH SAN FRANCISCO, Jan. 7, 2004 (PRIMEZONE) -- FinancialContent Inc. (OTC BB:FCON.OB - News), a leading provider of financial data and business applications to online media and financial services companies worldwide, today announced a key strategic partnership with FindWhat.com and the launch of a major initiative to deploy contextual advertising products on financial channels powered by FinancialContent.
ADVERTISEMENT
To bring the Contextual Advertising Program to market, FinancialContent has entered into a key strategic partnership with FindWhat.com, a leading developer and provider of performance-based marketing services for the Internet. Under the terms of the revenue sharing license agreement, FindWhat.com will provide the keyword-targeted ads (paid listings) in over twenty categories of financial-related products and services.
``Our company is already recognized as a leading provider offering the industryĂ‚Â's most powerful and cost-effective content management solution for turnkey financial channels,'' explained Wing Yu, CEO of FinancialContent. ``Now, by leveraging the contextual advertising expertise of FindWhat.com, we are able to offer large online media firms with a comprehensive business solution that delivers compelling financial data and tools to their users while generating additional revenues.''
``FindWhat.com has performed extensive testing on contextual-based advertising solutions for our distribution partners,'' stated Pete Neumann, vice president of business development for FindWhat.com. ``As a result, we are very selective about our contextual partnerships and constantly monitor them to ensure the traffic for our advertisers is at least equal to, or even better, than that of our overall advertising service. We are pleased to partner with FinancialContent to help bring their high quality initiative to market.''
``We have very high expectations for the program and anticipate strong demand among media and broadband companies seeking best-of-breed financial channel and advertising solutions,'' added Mr. Yu.
A pioneer in online content integration, FinancialContent, Inc. is one of the industry's leading content solution providers offering a full suite of financial data deployable through an interactive online platform. FinancialContent's flagship product Studio 3.5 is winning rave reviews for the software's ease of use and speed of deployment. For more information about Studio 3.5 and FinancialContent's complete suite of financial data products, please contact info@financialcontent.com.
About FinancialContent, Inc.
FinancialContent is a leading content solution provider specializing in the integration and delivery of financial data and business applications into web sites, corporate intranets and print media. The Company's mission is to deliver the industry's most cost-effective, high-reliability solutions combined with excellent customer service to its clients. With over 200 deployments worldwide, FinancialContent is rapidly growing its client base to include banks, brokerages, credit unions, and application service providers, as well as diversified media businesses and Fortune 500 companies. For more information, please visit http://www.financialcontent.com. FinancialContent is publicly traded on the over-the-counter market under the ticker symbol FCON.
This news release may contain forward-looking statements made pursuant to the ``safe harbor'' provisions of the Private Securities Litigation Reform Act of 1995. While these statements are meant to convey to the public the company's progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. While management believes such representation to be true and accurate based on the information available to the company, actual results may differ materially from those described. The company's operations and business prospects are always subject to risks and uncertainties. Important facts that may cause actual results to differ are set forth in FinancialContent, Inc.'s periodic filings with the U.S. Securities and Exchange Commission.
Contact:
FinancialContent, Inc.
Wing Yu
ir@financialcontent.com
(650) 837-9850
--------------------------------------------------------------------------------
Source: FinancialContent Services, Inc.
Hispanic Business Engages FinancialContent to Power Financial Channel
Tuesday January 6, 6:45 am ET
SOUTH SAN FRANCISCO, CA and SANTA BARBARA, CA--(MARKET WIRE)--Jan 6, 2004 -- FinancialContent Inc. (OTC BB: FCON), a leading provider of financial data and business applications to online media and financial services companies worldwide, today announced that the Company has been engaged to power the private-labeled financial channel for Hispanic Business' award-winning website.
FinancialContent will provide a comprehensive suite of stock market data customized for seamless integration into the website at http://www.hispanicbusiness.com. Visitors to the website will enjoy ready access to stock quotes, charts, corporate news, SEC filings, company profiles, and economic reports. Hispanic Business runs the leading online destination for Hispanic professionals and entrepreneurs.
ADVERTISEMENT
"One of our editorial objectives is to provide our readers with a comprehensive resource for business information, which includes stock market data," said Abel Magana, Media Manager at Hispanic Business. "By partnering with FinancialContent, we are able to rapidly extend our content offering while benefiting from a seamless user experience that reinforces the Hispanic Business brand."
"We are very excited about this opportunity to build a showcase deployment and to work with the leading source of business information for the fast-growing Hispanic community," added Stephen Malaster, Director of Enterprise Relationships for FinancialContent.
A pioneer in online content integration, FinancialContent, Inc. is one of the industry's leading content solution providers offering a full suite of financial data deployable through an interactive online platform. FinancialContent's flagship product Studio 3.5 is winning rave reviews for the software's ease of use and speed of deployment. For more information about Studio 3.5 and FinancialContent's complete suite of financial data products, please contact info@financialcontent.com.
About Hispanic Business Inc.
Now in its 24th year, Hispanic Business Inc., based in Santa Barbara, California, is an award-winning publishing and information services company. Hispanic Business magazine, the nation's leading source of information for and about Hispanic professionals and entrepreneurs, is the company's flagship publication. Other products and educational services include SúperOnda magazine, HireDiversity.com Career Expos, the annual EOY (Entrepreneur of the Year) Awards Gala, and the Hispanic Business Board of Economists (BOE) U.S. Hispanic Economic Summit. For additional information, visit the company's Web site at http://www.hispanicbusiness.com/pr.
About FinancialContent, Inc.
FinancialContent is a leading content solution provider specializing in the integration and delivery of financial data and business applications into web sites, corporate intranets and print media. The Company's mission is to deliver the industry's most cost-effective, high-reliability solutions combined with excellent customer service to its clients. With over 200 deployments worldwide, FinancialContent is rapidly growing its client base to include banks, brokerages, credit unions, and application service providers, as well as diversified media businesses and Fortune 500 companies. For more information, please visit http://www.financialcontent.com. FinancialContent is publicly traded on the over-the-counter market under the ticker symbol FCON.
This news release may contain forward-looking statements made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. While these statements are meant to convey to the public the company's progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. While management believes such representation to be true and accurate based on the information available to the company, actual results may differ materially from those described. The company's operations and business prospects are always subject to risks and uncertainties. Important facts that may cause actual results to differ are set forth in FinancialContent, Inc.'s periodic filings with the U.S. Securities and Exchange Commission.
Contact:
Press Contacts:
Stephen Malaster
FinancialContent, Inc.
650-837-9850
info@financialcontent.com
Stephan West
Public Relations Associate
805-964-4554 x130
stephan.west@hbinc.com
--------------------------------------------------------------------------------
Source: FinancialContent Inc.
ValueRich Selects FinancialContent to Power Financial Channel
Monday January 5, 6:45 am ET
SOUTH SAN FRANCISCO, CA and PALM BEACH, FL--(MARKET WIRE)--Jan 5, 2004 -- FinancialContent Inc. (OTC BB: FCON), a leading provider of financial data and business applications to online media and financial services companies worldwide, today announced that the Company will license its private-label financial channel solution to ValueRich Inc., publisher of ValueRich Magazine.
FinancialContent will power the financial channel for the website at http://www.valuerichonline.com offering visitors access to a comprehensive suite of stock market data and tools, including stock quotes, charts, news, SEC filings, company profiles, historical data, regional economic reports, investment glossaries, currency data, and more.
ADVERTISEMENT
"The depth and breadth of FinancialContent's offerings are well-aligned with our editorial goals," said Joseph Visconti, ValueRich publisher and CEO. "We are also impressed with the ease of integration as well as the personalized care and attention that the FinancialContent team gave to our company."
"We are very pleased to announce ValueRich as the first of over a dozen clients scheduled for deployment this quarter," said Wing Yu, CEO of FinancialContent. "ValueRich represents an exciting opportunity for us to assist a mainstream print publication with the launch and growth of its online interactive initiative."
A pioneer in online content integration, FinancialContent, Inc. is one of the industry's leading content solution providers offering a full suite of financial data deployable through an interactive online platform. FinancialContent's flagship product Studio 3.5 is winning rave reviews for the software's ease of use and speed of deployment. For more information about Studio 3.5 and FinancialContent's complete suite of financial data products, please contact info@financialcontent.com.
About ValueRich Inc.
Founded by Joseph Visconti, ValueRich Inc. is the publisher of ValueRich Magazine, a lifestyle publication geared toward the interests and objectives of investment professionals and entrepreneurs. Each monthly issue includes feature articles, interviews, product reviews, and public company profiles. The magazine's readership includes investment bankers, attorneys, corporate leaders, and financial service providers. For more information, please visit http://www.valuerichonline.com.
About FinancialContent, Inc.
FinancialContent is a leading content solution provider specializing in the integration and delivery of financial data and business applications into web sites, corporate intranets and print media. The Company's mission is to deliver the industry's most cost-effective, high-reliability solutions combined with excellent customer service to its clients. With over 200 deployments worldwide, FinancialContent is rapidly growing its client base to include banks, brokerages, credit unions, and application service providers, as well as diversified media businesses and Fortune 500 companies. For more information, please visit http://www.financialcontent.com. FinancialContent is publicly traded on the over-the-counter market under the ticker symbol FCON.
This news release may contain forward-looking statements made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. While these statements are meant to convey to the public the company's progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. While management believes such representation to be true and accurate based on the information available to the company, actual results may differ materially from those described. The company's operations and business prospects are always subject to risks and uncertainties. Important facts that may cause actual results to differ are set forth in FinancialContent, Inc.'s periodic filings with the U.S. Securities and Exchange Commission.
Contact:
Contacts:
Wing Yu
FinancialContent, Inc.
ir@financialcontent.com
650-837-9850
Joseph Visconti
ValueRich Inc.
valuerich@bellsouth.net
561-832-8878
--------------------------------------------------------------------------------
FinancialContent Completes $1 Million Private Placement
Friday January 2, 7:00 am ET
SOUTH SAN FRANCISCO, Calif. and NEW YORK, Jan. 2 /PRNewswire-FirstCall/ -- FinancialContent Inc. (OTC Bulletin Board: FCON - News), a leading provider of financial data and business applications to online media and financial services companies worldwide, today announced the completion of a $1 million private placement.
FinancialContent, Inc. issued 1,333,333 shares of its Series C convertible preferred stock to over twenty non-affiliated accredited investors based in the United States. The shares of the Series C stock are convertible on a one-to-one basis into shares of the Company's common stock. The Series C stock and the common stock issuable thereunder upon conversion have piggy-back registration rights and no demand registration rights.
The Company did not incur any referral fees related to the private placement. The proceeds from the private placement have been earmarked immediately to retire all long-term debt and to fund the Company's future growth.
"The equity investment reflects the confidence of investors in our business objectives for 2004 and beyond," said Wing Yu, CEO of FinancialContent. "The fact that we are now sufficiently capitalized for growth enables us to turn our attention completely to building our client base and achieving our goal of revenue growth of at least 30% a year."
"Over the last twelve months, we have met virtually all of our operational objectives having reached breakeven on a cash-flow basis in September and doubling the size of our client base," added Dave Neville, President of FinancialContent. "We believe that the economic recovery and an increase in information technology spending in the financial services sector will contribute to continued success for FinancialContent."
A pioneer in online content integration, FinancialContent, Inc. is one of the industry's leading content solution providers offering a full suite of financial data deployable through an interactive online platform. FinancialContent's flagship product Studio 3.5 is winning rave reviews for the software's ease of use and speed of deployment. For more information about Studio 3.5 and FinancialContent's complete suite of financial data products, please contact info@financialcontent.com.
About FinancialContent, Inc.
FinancialContent is a leading content solution provider specializing in the integration and delivery of financial data and business applications into web sites, corporate intranets and print media. The Company's mission is to deliver the industry's most cost-effective, high-reliability solutions combined with excellent customer service to its clients. With over 200 deployments worldwide, FinancialContent is rapidly growing its client base to include banks, brokerages, credit unions, and application service providers, as well as diversified media businesses and Fortune 500 companies. For more information, please visit http://www.financialcontent.com. FinancialContent is publicly traded on the over- the-counter market under the ticker symbol FCON.
This news release may contain forward-looking statements made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. While these statements are meant to convey to the public the company's progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. While management believes such representation to be true and accurate based on the information available to the company, actual results may differ materially from those described. The company's operations and business prospects are always subject to risks and uncertainties. Important facts that may cause actual results to differ are set forth in FinancialContent, Inc.'s periodic filings with the U.S. Securities and Exchange Commission.
Contacts:
Wing Yu
FinancialContent, Inc.
ir@financialcontent.com
650-837-9850
--------------------------------------------------------------------------------
Source: FinancialContent Inc.
INSIDER & FORM 144 HOLDERS*
Individual/Entity Most Recent Trans. Shares Owned as of Trans. Date
CAVANAUGH, WANDA
Proposed Sale
2-May-02 Not Reported
YU, WING HUNG
Chief Executive Officer Purchase
2-Oct-03 426,942
2-Oct-03
INSIDER & RULE 144 TRANSACTIONS REPORTED - LAST TWO YEARS
Date Insider Shares Transaction Value*
2-Oct-03 YU, WING HUNG
Chief Executive Officer 10,000 Purchase at $1.19 per share. $11,900
16-Jan-03 YU, WING HUNG
Chief Executive Officer 414,025 Acquisition (Non Open Market) at $0.23 per share. $95,225
2-May-02 CAVANAUGH, WANDA
409 Planned Sale $1221
Income Statement Get Income Statement for:
View: Quarterly Data | Annual Data All numbers in thousands
PERIOD ENDING 31-Dec-03 30-Sep-03 30-Jun-03 31-Mar-03
Total Revenue 232 215 114 113
Cost of Revenue 38 26 3 12
Gross Profit 194 189 111 100
Operating Expenses
Research Development (20) 20 190 (42)
Selling General and Administrative 214 362 228 314
Non Recurring - - - -
6 4 3 3
Total Operating Expenses - - - -
Operating Income or Loss (6) (197) (310) (174)
Income from Continuing Operations
Total Other Income/Expenses Net 0 0 (177) 0
Earnings Before Interest And Taxes (6) (197) (487) (174)
Interest Expense 53 19 17 6
Income Before Tax (58) (217) (504) (180)
Income Tax Expense 0 0 1 1
Minority Interest - - - - (59) (217) (505) (181)
Non-recurring Events
Discontinued Operations - - - -
Extraordinary Items - - - -
Effect Of Accounting Changes - - - -
Other Items - - - -
Net Income (59) (217) (505) (181)
Preferred Stock And Other Adjustments (12) - - -
Net Income Applicable To Common Shares($71) ($217) ($505) ($181)
Last Trade: 0.80
Trade Time: Feb 20
Change: 0.02 (2.44%)
Prev Close: 0.82
Open: 0.80
Bid: 0.80 x 2500
Ask: 0.90 x 2500
1y Target Est: N/A
Day's Range: 0.80 - 0.80
52wk Range: 0.27 - 2.00
Volume: 1,100
Avg Vol (3m): 11,414
Market Cap: 0
P/E (ttm): 0.00
EPS (ttm): N/A
Div & Yield: N/A (N/A)
FCON - FINANCIALCONTNT (OTCBB)
Date Open High Low Last Change Volume % Change
02/20/04 0.80 0.80 0.80 0.80 -0.02 1100 -2.44%
Composite Indicator
Trend Spotter (TM) Sell
Short Term Indicators
7 Day Average Directional Indicator Sell
10 - 8 Day Moving Average Hilo Channel Sell
20 Day Moving Average vs Price Sell
20 - 50 Day MACD Oscillator Sell
20 Day Bollinger Bands Hold
Short Term Indicators Average: 80% - Sell
20-Day Average Volume - 8740
Medium Term Indicators
40 Day Commodity Channel Index Sell
50 Day Moving Average vs Price Sell
20 - 100 Day MACD Oscillator Sell
50 Day Parabolic Time/Price Sell
Medium Term Indicators Average: 100% - Sell
50-Day Average Volume - 13028
Long Term Indicators
60 Day Commodity Channel Index Sell
100 Day Moving Average vs Price Sell
50 - 100 Day MACD Oscillator Sell
Long Term Indicators Average: 100% - Sell
100-Day Average Volume - 10766
Overall Average: 96% - Sell
Price Support Pivot Point Resistance
0.80 0.80 0.80 0.80
Today's Opinion:
96% Sell
Yesterday's Opinion:
100% Sell
Last Week's Opinion:
96% Sell
Last Month's Opinion:
40% Sell
------------------
DaDog
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
