This is topic NAYN - Nayna Networks Announce US$12 Million Network Solutions Agreement in forum Micro Penny Stocks, Penny Stocks $0.10 & Under at Allstocks.com's Bulletin Board.
Great news for a stock with a very small OS. The number of shares outstanding of the issuer's common stock as of March 29, 2006 was 41,119,617 shares
Nayna Networks and WICE-NET, Ltd. Announce US$12 Million Network Solutions Agreement Initial Purchase Orders Totaling US$7 Million Received May 8, 2006 10:15:00 AM 2006 PrimeZone Media Network
SANTA CLARA, Calif. and MUMBAI, India, May 8, 2006 (PRIMEZONE) -- Nayna Networks, Inc. (OTCBB:NAYN), a provider of next-generation network solutions headquartered in Santa Clara, California, USA, and WICE-NET, Ltd., a provider of broadband access services in the India subcontinent and Africa, today announced they have finalized an agreement through which Nayna will be the exclusive network systems solutions and equipment provider for WICE-NET's triple-play broadband access deployments.
WICE-NET is currently moving forward with a project in Africa and has associations/partnerships with major Indian carriers to provide solutions.
Under the terms of the agreement, Nayna will provide advanced equipment for WICE-NET installations, including solutions using Ethernet and SDH-based technologies. Monitoring and control will be done by Nayna's versatile and standards-based element management system "AN NetCharmer". Nayna will also provide WICE-NET with necessary network design, network planning and optimization services, and technical support to enable the deployment of multimedia services in a cost-effective manner with optimal Operating Expenditure (OPEX).
The total value of the agreement is expected to be US$12 million over the next twelve months. To supply its requirements in Africa and India, WICE-NET has given Nayna initial purchase orders valued at US$7 million.
"By working with Nayna, WICE-NET can seamlessly integrate the various equipment technologies with effective management required for our broadband networks," said Balasahab Kadam, chairman of WICE-NET. "Nayna is recognized as a leader in FTTH and SDH technologies and their expertise will allow WICE-NET to deliver our solutions to our customers more efficiently."
"We are pleased to be the network solutions provider for WICE-NET's installations," said Suresh Pillai, Vice President of Nayna Networks, Inc. and Managing Director, India operations. "WICE-NET has an innovative plan to deliver cost-effective broadband access to areas such as Africa and India and we are excited to be a part of their solution."
About WICE-NET
WICE-NET provides an innovative and advanced broadband access mechanism through an intelligent Metropolitan Area Network with capacity to deliver multiple services at affordable cost which is beyond the reach of existing technologies.
About Nayna Networks, Inc.
Nayna Networks, Inc. delivers next-generation network solutions. More information is available at http://www.nayna.com/.
In addition, all shareholders and interested parties are invited to sign into our private Corporate Guest Book at http://www.CorporateGuestBook.com/?NAYN to receive timely updates and information on future developments.
Forward Looking Statements
This press release contains forward-looking statements which are subject to safe harbors created under the U.S. federal securities laws. These statements include, among others, statements relating to the market for network solutions services and IT infrastructure management services, forecast revenue relating to sales of Nayna's products and services, and the timeframe during which Nayna expects to receive these revenues. Statements regarding future events are based on the parties' current expectations and are necessarily subject to associated risks related to, among other things, WICE-NET 's ability to continue its deployments in Africa and India, Nayna's ability to supply products and services to WICE-NET, and whether, and how quickly, the market for network solutions services and IT infrastructure management services develops and evolves as anticipated. Therefore, actual results may differ materially and adversely from those expressed in any forward-looking statements. For more information regarding Forward Looking Statements and related risks, see the "Risk Factors" section of Nayna's filings with the SEC. The company undertakes no obligation to revise or update any forward-looking statements for any reason. All products or services mentioned in this document are trademarks, service marks, registered trademarks or registered service marks of their respective owners.
CONTACT: Nayna Networks, Inc. Jim Connor 408-956-8000 x831 jim*nayna.com
Posted by lostone on :
dang KT, i got only 444 bux free.. but i'll play it.. lol
Posted by kt325ci on :
I got some at .13 and now for more at .11 on this dip.
L2 bid 1x.105 3.10
ask 1x.11 1x.15 3x.16
Posted by kt325ci on :
I'm out at .13. It's just not moving like I'd hoped.
Posted by kt325ci on :
I suck it's at .17x.18
lostone, at least your making some money on this.
Posted by lostone on :
damn, i was out at .155 .. lol we suck
Posted by lostone on :
it's alrite.. profit is profit.. i doubt it has much steam left anyway.. prolly crash in a coupla days
Posted by lostone on :
OMG .22 we really really suck
Posted by lostone on :
but then again, big gains are hard since volume is so low, hard to sell
Posted by Repoman75 on :
You do suck! Going to .25.. and no, I'm not in (I suck too).
Posted by rocktrader on :
guys ..told ya all...tomorrow gap up at 0.25..watch...some traders are coming into this...its on everybody's watch list...
Posted by rocktrader on :
repo are u still not int?
man u r watching this with me in the morning...
Posted by Repoman75 on :
I don't have cleared funds yet or else I would have bought... Ameritrade sucks.
Posted by Persia on :
LOL guys!! Posted by rocktrader on :
it has multi day run written all over it...
52 week high $1.82
bottom bounce with great news.
Posted by rocktrader on :
hope we break 0.25 today...
50 day MA lol
next resistence 0.55....200DMA
Posted by rocktrader on :
lets gap up to 0.30+...hopefully we see 2 quarters tomorrow Posted by pennydude on :
wow ,, I got in at .22 and still made some cash!!! thanks for the post
Posted by rocktrader on :
Penny tomorrow is going to be huge day....I think shakerzzzz group will be on this...
Posted by Mambo7 on :
THIS will be BIG TODAY
Posted by Mambo7 on :
THIS will be BIG TODAY you Dont Want To Miss this it is going to take off
Posted by Persia on :
Hey Mambo, you think Germany is going to do something at the world cup? I want to bet on them reaching the semis... Posted by Mambo7 on :
Germany is good but not good enought to win. I think Germany will reach the semis. But I will put my money on Spain or Portugal to win the world cup
Posted by Persia on :
Semis is good enough for me!
Don't know man, Brazil is the team to beat I guess.
Posted by Mambo7 on :
We Initiate Coverage of NAYN with Speculative Buy rating and assign a 12-month price target of $1.00. The Speculative Buy rating is predicated on the price gap between NAYN’s current stock price and the implied Company intrinsic value
this was on 3/6/2006 so before the news came out This is go ing to run today
Posted by Repoman75 on :
![[Frown]](frown.gif)
it's at .17x.18![[Smile]](smile.gif)
![[Big Grin]](biggrin.gif)
ing to run today