Must be some kind of miss-print..No wonder that rumor was flying around..Thnx dude for clarity.
Posts: 10729 | From: oregon | Registered: Feb 2005
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Well, this thread has some battle damage from the old Ndol war, which is now on mdol...So, lets move on.
Looks like strong open, unless NITE is up to his old fun and games...
Thanks to "the Bull dog " RD I took the time to really study the chart...He just might be right here folks...
Pre-market L2'S Bid .033 Ask .034
Pressure seems to be moving it up...But it's pre-market and games time...
A 50% gain could come real quick with the right news. A lot of shares were purchased above these levels, .0425 looks like the lid to me for the first round of heavy selling..
could go to .028 on the downside.
Posts: 10729 | From: oregon | Registered: Feb 2005
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Here's something from another board... Anything about the S-8's always get my attention..I am posting it verbatum.
------------------------------------------------ Remember, the S-8 filing that paid for operational expenses will not improve the Income Statement. The expenses still accrued, but were not paid for in cash. So, the cash balance will be improved (balance sheet) and the net cash used in Operating Activities will decrease (cash flow statement)…by paying for the expenses in S-8. But it will NOT affect the Income statement.
I’m assuming at some point; their “Professional Fee’s & Compensation Expenses” will not increase with increasing revenues. The cost of auditing/Sarbanes-Oxley will not substantially increase with increased revenues. And at some point, they will (I hope) stop hiring Executive Management/Consultant (i.e. Tucker McDonaugah) type of employees who don’t directly impact revenue. These Exec’s/Consultants are coming in to help in the expansion of the business. More importantly, they are helping to build the company to run itself at some point. Case in point is the Halsey Group coming in and setting up a standard procedure for all new sales processes. It was a one time upfront fee that will pay off for years to come. Remember, STTC is diligently looking for new acquisition opportunities and when that happens, the new companies acquired will be able to quickly adapt to STTC’s procedures that are now established.
This year could be the time where the company takes all these upfront costs. I don’t have to big of an issue with that AS LONG AS they are communicating their plan to current and potential investors! And since they are currently looking for an IR firm, I imagine they will be doing it soon. ----------------------------------------------- The above is from R/B......I have noticed a fair and informed group of posters accross the boards..There is your garden variety pumpers and shall we say negative posters around, but all in all some reasonably squared away folks are buying into this company...
Posts: 10729 | From: oregon | Registered: Feb 2005
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Find anything else Bigfoot? This really isn't all that bad a report, for a .035 stock? it looks mighty good to me..High rate of capitol? Thats the burr under the saddle, but if needed leaves some room..Could roll along without it just fine.Thats the specualation factor, are these guys competent to High Roll and pull it off. -------------------------------------------------
10QSB: SOFTNET TECHNOLOGY CORP.
By Edgar Online - (EDG = 10Q, 10K) Last Update: 5/22/2006 2:19:17 PM Data provided by
(EDGAR Online via COMTEX) -- Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations.
Introduction and Forward Looking Statements
This document contains forward-looking statements which may involve known and unknown risks, uncertainties and other factors that may cause SoftNet Technology Corp's ("SoftNet") actual results and performance in future periods to be materially different from any future results or performance suggested by these statements. SoftNet cautions investors not to place undue reliance on forward-looking statements, which speak only to management's expectations on this date.
Certain statements contained herein, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Such forward-looking statements are identified by words such as "intends", "anticipates", "hopes" and "expects", among others, and include, without limitation, statements regarding the Company's plan of business operations, anticipated revenues, related expenditures, and the results of any business transactions. Factors that could cause actual results to differ materially include, among others, the following: acceptability of the Company's services in the market place, general economic conditions, political and economic conditions in the United States and abroad, and competition.
The following discussion and analysis highlights the financial position and results of operations of SoftNet as of and for the three months ended March 31, 2006 compared to the three months ended March 31, 2005. The business activities of the Company are now that of the two wholly owned subsidiaries: Indigo Technical Services, Inc. and InsPara Networking Technologies, Inc.
The Company anticipates that their sources of liquidity will come from the private sale of the Company's securities to cover the funding of corporate expenses, such as legal and accounting and filing fees, as well as Sarbanes-Oxley compliance.
As disclosed in the Company's 8-K dated January 17, 2006, the Company entered into a certain Plan and Agreement of Reorganization (the Agreement) with Inspara, Inc. (InsPara) pursuant to which InsPara would merge with and into the Company (the Merger). The closing of the Agreement took place on January 18, 2006 and the Merger became effective retroactively to January 1, 2006.
The Merger was accomplished pursuant to the Agreement which was attached to the Company's 8-K dated January 17, 2006 and is incorporated herein by reference. Under the Agreement, the stockholders of InsPara will receive, pro rata, a total of 49,999,998 shares of this Company's Common Stock (the Acquisition Shares). The Acquisition Shares are unregistered shares and will only be free trading upon a filing of a Registration Statement for the Acquisition Shares, or an exemption from the registration thereof. Immediately following the closing of the Merger, Doug Wetzel resigned from the Board of Directors of the Company and Kevin Holt, the Chairman and C.E.O. of InsPara,
was appointed to fill the vacancy created by Mr. Wetzels resignation. Prior to the execution of the Agreement, there were no material relationships between (i) InsPara or any of its affiliates, or any officer or director of InsPara, and
During the three months ended March 31, 2006, the Company sold Solutions Technology, Inc. for $100,000, and also disposed of its German subsidiary SoftNet International, Inc. The resulting gains from disposal are included in the Company's financials for the three months ended March 31, 2006.
Results of Operations
Three Months Ended March 31, 2006 and March 31, 2005
Revenues for the three months ended March 31, 2006 were $1,093,523 as compared to $231,683 for the three months ended March 31, 2005. As mentioned, the Company's acquisition of Inspara and combination of business operations with Indigo Technology Services consulting were the reasons that the Company experienced very fast revenue growth.
Cost of sales for the three months end March 31, 2006 was $733,973 compared to $97,174 for the three months ended March 31, 2005. The increase in cost of sales was manly due to the increased operations of the Company from the acquistion of Inspara.
Operating expenses for the three months ended 2006 were $2,033,602 as compared to $1,877,131 in the first quarter of 2005, an increase of approximately $156,000 due in large part to the decrease in marketing and promotional activity and in corporate expenses for legal and accounting and operating expenditures. However, the operating expense did include a large one time impairment of goodwill of $1,149,510 from the acquisition of Inspara. This will not be recorded going forward and should lead to better profitability of the overall company being reporting in the coming quarters.
Other income (expense) was $(5,552) for the first quarter of 2006 compared to $(5,308) for the first quarter of 2005.
The gross margin of (33%) in the first quarter of 2006 was attributable to the acquisition and operations of Inspara being brought into the overall company. This figure is not being compared to previous years of operations as the operations of the Company are significantly different than previous years. Going forward these margins should remain steady and there is no reason to believe outside competitive pressure would cause a decrease.
Liquidity and Capital Resources
For the three-months ended March 31, 2006, the Company used (2,033,602) in operating activities compared to ($1,877,131) for the three-months ended March 31, 2005. The decrease in cash used in operating activities of approximately $156,000 is most attributable to the decrease in shares of stock being issued for services. The Company has continued to borrow certain amounts from related parties to finance the quickened growth of the new enterprise solutions operations brought in to the company through the acquisition of Inspara. However, the Company would not require any additional capital to simply sustain operations and grow at a slower pace. The Company has made significant progress with respect to future funding. Funding is expected shortly, which will enable the Company to market, and continue to expand operations at a quickened pace. The current funding that is being contemplated would be through a loan from the Current CEO. Terms of this transaction are still being discussed. We anticipate that going forward; we will continue to streamline administrative, and professional fees to conserve cash flow. Once the recognition of increased revenues occurs, certain expenses will increase, but only in accordance with the increase in revenues.
The accompanying financial statements have been prepared assuming the Company will continue as a going concern. The Company has suffered recurring losses from operations and at March 31, 2006 had working capital deficits as noted above. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. However, with the acquisition of Inspara and the combining of all corporate operations, the Company is now in a position to sustain operations without further capital infusion. Additional capital would only be required to increase the pace of growth for the overall company. It is expected in the coming 12 to 18 months that through organic growth and strategically targeted acquisitions that the Company will be able to sustain a very high rate of growth and not require additional capital. However, the Company has chosen a path of a high rate of growth and there for will require additional capital in order to meet these goals at the present time.
May 22, 2006
Posts: 10729 | From: oregon | Registered: Feb 2005
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Anybody see an entire page laying around any where? --------------> Gone with the wind?
Posts: 10729 | From: oregon | Registered: Feb 2005
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Well, I am back for a few days and see my favorite stock has went to a level where I had to buy some more. It took almost all day to fill a small order. Hmmmm, I wonder if that is a good sign. Dustoff... you still around? Last I heard you were soon to be out of the hospital. I hope all is well. TMAN...
-------------------- In the end, trust only yourself when trading stocks. Posts: 2048 | From: Texas | Registered: Feb 2006
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Hey Dust, good to here that your ok. I wish I could say the same about this stock lol. You trying to throw me off with the name change lol. TMAN...
-------------------- In the end, trust only yourself when trading stocks. Posts: 2048 | From: Texas | Registered: Feb 2006
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LOL. I was thinking we had some one new that had bought in and was all depressed like the rest of us. lol. On a serious note, all we need is a new PR firm to help with information flow, a good 10q and good numbers. With that and any noted reduction in shares we might see some good action here. If we dont get the above mentioned items we may have a tax loss on our hands. TMAN...
-------------------- In the end, trust only yourself when trading stocks. Posts: 2048 | From: Texas | Registered: Feb 2006
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SoftNet Technology Divests Ownership of SoftNet International GmbH Monday July 24, 3:01 pm ET
CRANFORD, N.J., July 24, 2006 (PRIMEZONE) -- SoftNet Technology Corp. (OTC BB:STTC.OB - News) (German WKN#:A0B7RZ) is pleased to announce that the consolidation of STTC's business operations is now just about complete with the sale of SoftNet International GmbH to Alexander Holtermann. Mr. Holtermann repurchased the German subsidiary by returning 5 million shares of SoftNet Technology Class A Common stock. ADVERTISEMENT
All documents necessary to complete this transaction have been signed by all of the parties to the transaction. The last document, a Certificate of Incumbency has been sent to the Secretary of State of New Jersey to certify the Certificate of Incumbency's authenticity and will then be sent to legal counsel in Frankfurt, Germany as required by German law. This will complete the effort to rid SoftNet of nonessential and nonperforming business operations.
SoftNet, however, recognizing the vitality of the global marketplace, will not limit operations to the United States as international expansion has already been put into place with SoftNet currently performing work in Canada. Current President and Chief Operating Officer, Kevin Holt, has led expansion into international markets for previous corporations that he was involved in, and will do the same for SoftNet Technology. These expansion plans will be evaluated in the coming weeks and months and will be strategically implemented in an organized and well thought out manner.
As a significant step towards maximizing internal synergies and brand-building efforts, as of July 1, 2006, all the technical steps were taken and the proper filings were completed officially merging Indigo Technology Services, Inc. (a wholly owned subsidiary of SoftNet) into SoftNet. Accordingly, all continuing operations of the Company will be conducted under the name SoftNet Technology. There are additional corporate actions that will be instituted in the coming weeks that will prepare SoftNet for sustainable growth and with a view to eventually listing the company on a United States Listed Exchange.
``We have now completed the majority of the required corporate actions we felt were necessary to take this company into the future and allow for management to build shareholder value,'' said Mr. James M. Farinella, CEO of SoftNet Technology. ``We can now focus our energies on growing SoftNet organically and through strategically planned acquisitions.''
Please visit our website at http://www.softnettechnology.com for more information or for Investor Relations, the company directly at 866-898-4842 (local - 908-204-9911) James M. Farinella, CEO.
The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made on behalf of the company. All such forward-looking statements are, by necessity, only estimates of future results and actual results achieved by SoftNet Technology Corp (STTC) may differ materially from these statements due to a number of factors. STTC assumes no obligations to update these forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting such statements. You should independently investigate and fully understand all risks before making investment decisions.
Contact: SoftNet Technology James M. Farinella, CEO (866) 898-4842 (908) 204-9911 www.softnettechnology.com
posted
Wow, two press releases in 3 days. This one isnt to shabby either. BTW, am I the only bag holder left. lol. I will turn out the lights when I sell. TMAN...
-------------------- In the end, trust only yourself when trading stocks. Posts: 2048 | From: Texas | Registered: Feb 2006
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CRANFORD, N.J., July 26, 2006 (PRIMEZONE) -- SoftNet Technology Corp. (OTC BB:STTC.OB - News) (German WKN No.: A0B7RZ) is pleased to announce that $1,030,000, plus accrued interest has been eliminated from SoftNet's balance sheet. This leaves approximately $400,000 of long term debt held by current CEO James M. Farinella. ADVERTISEMENT
The approximately $1 million of retired long term debt was converted into a total 5 million restricted shares of stock (one year restriction) and 20 million warrants convertible at $.035. These warrants will expire at 5 PM Eastern Standard Time, on April 30, 2007, if not exercised. There will be an additional one-year restriction from the time of conversion (if conversion does occur) on all warrants that are exercised and converted into Class A Common Shares. A complete reduction of all of the company's remaining long term debt is currently being negotiated.
On other corporate matters, David Facciani resigned from the Board of Directors effective June 30, 2006. A new addition to the Board is expected in the next few weeks. A qualified stock option plan is being discussed and is going to be instituted for the SoftNet employees and sales personnel as an incentive to continue to expand the sales and profitability of the Company.
Mr. James M. Farinella, CEO of SoftNet Technology, stated, ``We are very pleased to have retired this debt. We are really creating a fundamentally strong Company. Putting in place the proper corporate structure, combined with the great management team and sales force, is really positioning SoftNet for a very bright future.''
Please visit our website at http://www.softnettechnology.com for more information, or for Investor Relations, please contact the company directly at 866-898-4842 (local 908-204-9911) James M. Farinella, CEO.
forgot to add...TMAN...
-------------------- In the end, trust only yourself when trading stocks. Posts: 2048 | From: Texas | Registered: Feb 2006
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Hey Dust. I am ready for the ride thats for sure. The ole boys at rb still think we can get back to .30. If we have any net revenue this thing may make it. I will be paying off some chit if we do. TMAN...
-------------------- In the end, trust only yourself when trading stocks. Posts: 2048 | From: Texas | Registered: Feb 2006
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