posted
I think today's dip had to do with a lot of people in the Negative on this stock from yesterday's fall from 1.00-1.20 trading range volume. So people went ahead and took the tax loss since they had today and tommorow as last days for tax loss selling. I think once thats over the news should reflect the stock price better, next week perhaps.
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posted
JL I agree with you. Lots of people bought from .80 and up yesterday. Many sold today for the tax loss. There was basically selling all day. The company is doing very well, and at .60 its almost at its 52 week low, with in the last day 2 great contracts coming out. The market knew yesterday what this was worth, but with any low floater, daytraders pushed people to sell when the price started to drop and became an avalanche.
This stock is undervalued, there is no dilution...float is SO low its not even funny. Insiders are not selling, they would be stupid too.
Most insider bought at average cost in the .70's and .80's and one has an average at .50
with options they can exercise them, but they wouldnt sell because the options are for the most part higher than the current share price.
So lets take a look and think about this one.
Daytraders flipping out of a low floater yesterday for profits...equals panic selling which continues today for people who bought at the top after the big decline...which equals an even lower price. And one of the last days for tax selling. It went down today on fantastic news. Trust me that wont last long. Today's RSI was soooo oversold its not even funny.
Good luck...
January I think we see .80+
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posted
The key thing here is how many stocks with annual revenues that this company pulls off with 3.4 float or someowhere around that are at .60
should probably be much higher...especially with how fast they are growing. Even though I hate ARCA i think if they were dumping, the company would have diluted the hell out of this by now. So it could have just been a big buyer from yesterday...hoping to make a quick buck.
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posted
stocktrader22 good DD. I looked into that Form4 insider trades link and very nice amount of insider buys in the past 2 years. Its amazing how much of the OS in sheer % the insiders have bought up in .60s and .70s the past 2 years. Looks like the revenues they are pulling in quarterly are being reinvested into the company . Keeping an eye on this for longer than I intended.
Caneum, Inc. Completes Acquisition of Continuum Systems Pvt. Ltd. 1/4/2007
Accretive Acquisition Results in Expanded Operations Worldwide, Including Caneum Asia Pacific Pte. Ltd. in Singapore and Caneum India Pvt. Ltd. in India
NEWPORT BEACH, CA, Jan 04, 2007 (MARKET WIRE via COMTEX News Network) -- Caneum, Inc. (OTCBB: CANM), a global provider of business process and information technology outsourcing services, today announced that effective December 31, 2006, it has closed its acquisition of Continuum Systems Pvt. Ltd. of India.
Alan Knitowski, Chairman of Caneum, commented, "We are extremely pleased to have closed our acquisition of Continuum Systems Pvt. Ltd. and look forward to continuing to expand our international outsourcing resources and capabilities. Both the Indian and Asian markets continue to grow aggressively and we expect that our new multi-country delivery footprint will provide a strong foundation to further our business model of growing via organic sales and additional accretive acquisitions."
The Company has initiated activities in India to rename Continuum Systems Pvt. Ltd. to Caneum India Pvt. Ltd. and expects to complete this process within the next 60 days. Jesper Lindorff, former Managing Director of Continuum Systems Pvt. Ltd., is now Managing Director and CEO of the Company's Indian operations and all of Continuum's approximately 100 employees have been retained.
Continuum Pvt. Ltd. was generating both positive operating cash flow and net income at closing. On an un-audited basis, it generated approximately $384K in revenues and $191K in gross profit for the quarter ended September 30, 2006. On an annualized basis, this quarterly performance equated to approximately $1.54M in revenue and approximately $764K in gross profit.
Full details of the acquisition can be found in the 8-K now on file with the SEC and submitted in parallel to this release.
About Caneum, Inc.:
Caneum, Inc. is a global provider of business process and information technology outsourcing services across vertical industries, including technology, energy, government, transportation, financial services, education and healthcare. The Company provides a suite of business strategy and planning capabilities to assist companies with their "make versus buy" decisions in the areas of data, network, product development, product maintenance and customer support, and fulfills its services in-house, on-shore, near-shore and off-shore, depending on the business goals and objectives of its global customers. In parallel, the Company is opportunistically pursuing accretive acquisitions within its core outsourcing product and service suite in order to broaden its core capabilities, expand its customer base and supplement its organic growth. For more information, please visit the Company's web site at http://www.caneum.com.
About Continuum Systems Pvt. Ltd.:
Continuum Systems Pvt. Ltd. is an approximately 100-person off-shore outsourcing company founded in 2002 and based in New Delhi (Gurgaon), India. The Company provides (1) application services, including development, integration, re-engineering, migration and maintenance, (2) customer support, including e-mail, chat and voice, (3) business process outsourcing, including technical support, data conversion and data mining, and (4) e-services, including web design, search engine optimization and e-commerce. The Company's customer base includes companies from Sweden, Switzerland, the United Kingdom, Nigeria, India, Mauritius, Indonesia and the United States. For more information, please visit the Company's web site at www.continuum-systems.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: With the exception of historical information, the statements set forth above include forward-looking statements that involve risk and uncertainties. The Company wishes to caution readers that a number of important factors could cause actual results to differ materially from those in the forward-looking statements. Those factors include, but are not limited to, the risk factors noted in the Company's filings with the United States Securities and Exchange Commission, such as the rapidly changing nature of technology, evolving industry standards and frequent introductions of new products, services and enhancements by competitors; the competitive nature of the markets for the Company's products and services; the Company's ability to gain market acceptance for its products and services; the Company's ability to fund its operational growth; the Company's ability to attract and retain skilled personnel; the Company's ability to diversify its revenue streams and customer concentrations; and the Company's reliance on third-party suppliers.
posted
"Continuum Pvt. Ltd. was generating both positive operating cash flow and net income at closing. On an un-audited basis, it generated approximately $384K in revenues and $191K in gross profit for the quarter ended September 30, 2006. On an annualized basis, this quarterly performance equated to approximately $1.54M in revenue and approximately $764K in gross profit"
I'll take that any day!
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. Keeping an eye on this for longer than I intended.
