I've been following it for a good month now. There have not been any PR's in about 2 months now. Over the last 2-3 weeks, this stock was fluctuating between .0001 and .0002, however, the last couple of days it is sticking at .0002, and there is pretty good volume.
Doing a little research on their site, this is what I found to be a partial client list for the company: Lockheed Martin General Dynamics General Electric General Motors Boeing Cummins Engine ESI Fiscal Ford Motor Co. Allison Transmission Driltech Copeland Corporation Komatsu GE Elano ABB Magna
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Do a search for some of the old THTHF threads. Quite a bit of discussion about them. You're right, they have a stellar customer list but they are hemorrhaging money. The more they make, the more they lose. They are stuck in a classic business "catch 22" and I don't know how they'll pull themselves out.
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I too liked the looks of their client list and they had several promising PR's out back in July. I got in at .001 and finally bailed at .0003.OUCH!
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Thinkpath Settles Lawsuit Tuesday November 16, 7:00 am ET
TORONTO, Nov. 16, 2004 (PRIMEZONE) -- Thinkpath Inc. (OTC BB:THTHF.OB - News) announced today that it has successfully negotiated and consummated a settlement of all litigation with its previous landlord, SITQ. Terms involved a one-time cash payment of $250,000 and forgiveness of approximately $500,000 in accrued rent payable and cancellation of $4.5 million in future rent claims and damages. This transaction sets the stage for further debt reduction and forgiveness and represents a very important first step in returning Thinkpath to financial health.
Thinkpath is a global provider of Engineering Solutions in Engineering Knowledge Management, including Design, Analysis, FEA, Design/Build, On-site Support, Technical Publishing, Forensic Engineering and Consulting.
This press release contains forward-looking statements regarding Thinkpath Inc., its business prospects and results of operations that are subject to certain risks and uncertainties posed by many factors and events that could cause Thinkpath's actual business, prospects and results of operations to differ materially from those that may be anticipated by such forward-looking statements. Readers are urged to carefully review and consider the various disclosures made by Thinkpath in this news release and other reports filed with the Securities and Exchange Commission that attempt to advise interested parties of the risks and factors that may affect Thinkpath's business.
Contact: Thinkpath Inc. Tracy McKay (905) 460-3040 communications@thinkpath.com
-------------------------------------------------------------------------------- Source: Thinkpath Inc.
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Thinkpath Announces 3rd Quarter Sales Increase of $475,000 via COMTEX
November 16, 2004
TORONTO, Nov 16, 2004 (PRIMEZONE via COMTEX) --
Thinkpath Inc. (OTCBB:THTHF) today announced that revenue from continuing operations increased in the third quarter by over $475,000 compared to the same period last year. Earnings, likewise are expected to significantly improve as gross margins increased from 33% to 37%. The third quarter financial results will be released early next week.
Thinkpath is a global provider of technological solutions and services in engineering knowledge management, including design, drafting, technical publishing, and consulting. Thinkpath enables corporations to reinvent themselves structurally; drive strategies of innovation, speed to market, globalization and focus in new and bold ways. Thinkpath's expertise spans the aerospace, automotive, manufacturing and health care industries.
Further information about the company may be found at www.thinkpath.com.
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why arnt they trading today its all zeros across the board did they have a trading halt or a symbol change i cant seem to understaND I HAVE LOOKED EVERWHERE
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Thinkpath Announces Debt Forgiveness of a Further $625,000 (Source: PrimeZone) 11/17/04 09:01
Thinkpath Inc. (OTCBB: THTHF) announced today that it has successfully negotiated and consummated a settlement of its notes payable to Denise Dunne-Fushi and Roger Walters. Dunne-Fushi, the former owner of MicroTech Professionals Inc., was paid a one time cash payment of $202,000 and forgave $433,000 of the note's principal balance. Walters, the former owner of CadCam Inc., was paid a one time cash payment of $33,600 and forgave $190,400 of the note's principal balance.
This brings the total debt forgiveness to $1,125,000 which will be recognized in the fourth quarter of 2004, and coupled with the settlement of the outstanding legal claim of SITQ National Inc. announced earlier this week, goes a long way towards the goal of eliminating all debt from the company's balance sheet with the exception of an operating line of credit, current trade payables and outstanding convertible debentures.
This transaction is another positive step towards restoring Thinkpath's financial strength and positions the company to work towards finalizing a complete restructuring.
Thinkpath is a global provider of Engineering Solutions in Engineering Knowledge Management, including Design, Analysis, FEA, Design/Build, On-site Support, Technical Publishing, Forensic Engineering and Consulting.
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Thinkpath Announces New Aerospace Contract Worth $550,000 Friday November 19, 1:28 pm ET
TORONTO, Nov. 19, 2004 (PRIMEZONE) -- Thinkpath Inc. (OTC BB:THTHF.OB - News) continued gathering a head of steam today as the company announced a new contract worth approximately US$550,000 with one of their leading aerospace and defense contractor clients. The ramp-up for this project is already underway with the necessary resources and infrastructure being assembled and the hiring of several new design engineers and detailers in process.
``We are delighted to have received this new award from a longstanding client with whom we have had a previous longstanding relationship. Engineering and Design Solutions is the fastest growing sector of Thinkpath's business and we believe that this is the first of many such announcements to come in the next few months,'' stated Declan French, Chairman and CEO of Thinkpath Inc.
Thinkpath is a global provider of Engineering Solutions in Engineering Knowledge Management, including Design, Analysis, FEA, Design/Build, On-site Support, Technical Publishing, and Consulting.
Thinkpath Releases Financial Results for the Third Quarter Ended September 30, 2004 Tuesday November 23, 7:00 am ET
TORONTO, Nov. 23, 2004 (PRIMEZONE) -- Thinkpath Inc. (OTC BB:THTHF.OB - News) today announced financial results for the third quarter ended September 30, 2004. ADVERTISEMENT
Revenues for the three and nine months ended September 30, 2004 were $3,125,899 and $9,507,784 compared to $2,649,681 and $7,611,673 for the same periods in 2003. The significant increase in revenue is attributable to new contracts with existing defense, automotive and aerospace clients that were awarded in the later part of 2003 and early 2004.
Gross profit for the three and nine months ended September 30, 2004 was 37% and 36% compared to 33% and 32% for the same periods in 2003. The increase in gross profit is a result of the strategic focus on higher margin contracts in design, drafting and technical publishing compared to the lower margins earned on traditional on-site engineering support.
For the three and nine months ended September 30, 2004, the company recorded operating income from continuing operations of $55,967 and $237,343 compared to operating losses of $106,789 and $602,098 for the same periods in 2003. Included in the results for the three and nine months ended September 30, 2004 are commissions on the convertible debentures of $0 and $116,597 as well as non-cash items including depreciation expense of $118,683 and $399,699 and services paid for in shares and warrants of $45,233 and $82,626.
For the three and nine months ended September 30, 2004, the company recorded a net loss of $1,039,732 or (0.00) per share and $2,667,350 or (0.00) per share compared to a net loss of $1,857,832 or (0.00) per share and $7,158,690 or (0.02) per share for the same period in 2003. Included in the net loss for the three and nine months ended September 30, 2004 is interest expense of $967,440 and $2,507,880 related to the beneficial conversion feature on the 12% Senior Secured Convertible Debentures issued in the second quarter. The interest charges for the same periods last year were $1,528,700 and $6,179,406.
At September 30, 2004, the company had a cash flow deficiency from operations of $1,015,833 largely attributable to the increase in accounts receivable of $369,870 and the decrease in accounts payable of $1,014,369 reflecting the company's increased revenues and repayment of accrued liabilities. At September 30, 2003, the company had a cash flow deficiency from operations of $169,584.
At September 30, 2004, the company had a working capital deficiency of $1,088,843 and stockholder's equity of $3,689,927, which is a considerable improvement over its working capital deficiency of $2,756,405 and stockholder's equity of $2,260,892 at December 31, 2003.
After adjusting for the non-cash items and convertible debenture expenses, the Company has income of approximately $220,000 from continuing operations for the third quarter and $840,000 for the nine months ended September 30, 2004. This continues the Company's trend of positive growth as reported in the first and second quarters of 2004. The Company believes this will continue into the fourth quarter and that income from continuing operations will be augmented by the recognition of debt forgiveness of approximately $1,130,000 related to the various debt settlements announced last week.
This press release contains forward-looking statements regarding Thinkpath Inc., its business prospects and results of operations that are subject to certain risks and uncertainties posed by many factors and events that could cause Thinkpath's actual business, prospects and results of operations to differ materially from those that may be anticipated by such forward-looking statements. Readers are urged to carefully review and consider the various disclosures made by Thinkpath in this news release and other reports filed with the Securities and Exchange Commission that attempt to advise interested parties of the risks and factors that may affect Thinkpath's business.
Contact: Thinkpath Inc. Tracy McKay Tel: (905) 460-3040 Email: communications@thinkpath.com
-------------------------------------------------------------------------------- Source: Thinkpath Inc.
[This message has been edited by vforce (edited November 23, 2004).]
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