2005-01-11 06:45:08 The Project Group Subsidiary, Pro Squared, Appoints New President to Lead RFID Initiative; RFID Industry Senior Executive Raphael M. Feldman Joins Pro Squared
HOUSTON--(BUSINESS WIRE)--Jan. 11, 2005-- The Project Group, Inc. (OTCBB:PJTG) announced today that Raphael M. Feldman, a well-respected veteran in the Radio Frequency Identification (RFID) industry, has been appointed President and CEO of Pro Squared, Inc., a subsidiary of the Company. Mr. Feldman has been developing RFID solutions for over 15 years, and is considered one of the most knowledgeable executives in the industry, with past clients including the State of Indiana, Tyco, and others. Pro Squared will be developing RFID solutions for client companies that require experienced, knowledgeable practitioners to enable them to maximize their investments. In addition, Mr. Feldman will be building on the relationship PJTG has with Microsoft as a Gold Certified Partner in support of Microsoft's tools and their integration with RFID processes. "Raphael Feldman is uniquely qualified to lead the RFID initiative for the Project Group through our Pro Squared subsidiary. His depth of experience in the RFID market-space and his knowledge of this exciting technology will be a significant asset to our Company and
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Will and I were discussing this one just last night Glass. Both agree it's a winner once it's discovered . That's the only thing it's lacking right now, volume.
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they got a lot of bashing last summer when they acquired dolphin. they've (the managemnet) locked up about 20 million of their OWN shares to PROVE they are committed to (MIN) two years of growth... based on all the newly registered shares and the RS's this year i thought it might be nice for peole to try INVESTING once in while
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Glass, Don't you just love it when you post a great pick and the only one keeping the thread alive is you? Something like leading a horse to water...?
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sooner or later it will return to .30... i've been buying in dips since AUG..
i can afford to wait, but one of these swings to .08 will bust out... and i figured everybody has to be getting tired of getting RS'ed and dumped on..axag is just the latest.
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Entry Material Agreement, Financial Statements and Exhibits
Item 1.01. Entry into a Material Definitive Agreement On December 16, 2004, The Project Group, Inc. (the "Company") entered into a Subcontractor Work Order with Microsoft Corporation pursuant to which the Company has been contracted to perform $704,000 of services for Microsoft during 2005. The Subcontractor Work Order was made pursuant to the terms of a Microsoft Master Subcontractor Agreement, effective June 17, 2002, between the Company and Microsoft pursuant to which the Company provides services on behalf of Microsoft and its clients.
hmmmmm these guys are working for Bill Gates?
and have been for how long?
[ January 11, 2005, 17:28: Message edited by: glassman ]
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Great pick.. I like it... The reason why its largely ignored in this section of the forum is that most people in this neck of allstocks.com are day traders or swing traders who rely more on technical and momentum rather than fundamentals. And the Technicals on it dont look good
I've been looking around for some good growth stocks and this is pretty good.
1. Low shares outstanding 2. Market Cap is about 1:1 on the book value which gives room for 'faith value' to jump ahead of actual value. 3. They have a modern product that makes sense and is in demand.
Of course their income and cash flow leave much to be desired and thats probably why they seem to be 'undiscovered' at the moment.
Why dont you post this in the 1k - 100k club to do some research on?
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2005-01-24 06:44:04 Project Group RFID Subsidiary to Implement Purchase Order from State of Indiana; Expands RFID Based Safety Inspection Program for Amusement Parks in Indiana
HOUSTON--(BUSINESS WIRE)--Jan. 24, 2005-- The Project Group, Inc. (OTCBB:PJTG) announced today that the State of Indiana has awarded a purchase order for expanding the state's RFID based safety inspection program for amusement parks. The order will be implemented
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PRELIMINARY RESULTS - RECORD HIGH FOURTH QUARTER REVENUE FOR THE PROJECT GROUP, INC.
HOUSTON--(BUSINESS WIRE)--Jan. 27, 2005--The Project Group, Inc. (OTCBB:PJTG - News) announced today preliminary revenue totals for the fourth quarter 2004 and for the full year. Revenues for the quarter were in excess of $625,000, an increase of approximately 17% compared to revenues of $530,398 for the same period in 2003. The previous record high revenue quarter was first quarter 2004 at $615,509. Revenues for 2004 were approximately $2,293,000, an increase of 18% over the previous year. This upward revenue trend is expected to continue this year based on the committed contracts already in place for 2005.
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The Project Group RFID Subsidiary to Develop Handheld Enabled RFID Based Evidence Tracking System for Federal, State & Local Law Enforcement Agencies
HOUSTON--(BUSINESS WIRE)--Feb. 10, 2005--The Project Group Inc.'s (OTCBB:PJTG) RFID subsidiary, Pro Squared Inc., announced today that it is developing a handheld enabled, RFID based evidence tracking system for use by Federal, State and Local Law Enforcement officials. This system is only available for demonstration to the law enforcement community on a highly restricted basis for confidentiality purposes.
The solution is network-based to allow law enforcement personnel to RFID tag and track of all evidence as it is collected, categorized and stored at various locations throughout the Law Enforcement and Court systems before, during and after trial. As evidence moves through the law enforcement system, from the scene of a crime and through the court system, Pro Squared's RFID solution & technology will track the location of any single piece of evidence, within any law enforcement building which is connected to the RFID system. Further, Pro Squared's RFID solution will track the chain of custody of evidence.
Chain of custody tracking presents critical challenges to law enforcement and the prosecution teams who must present the evidence during trials. Pro Squared's VPN based system is designed to locate, track and create audit trails of all evidence collected while in the possession of Law Enforcement. Documenting and reporting the chain of custody of evidence is a vital process, in today's law enforcement and prosecutorial divisions as well the court system of the United States. Pro Squared's solution will help automate and correct many of the issues that have plagued those burdened with the task of tracking thousands of pieces of evidence. The responsibility of chain of custody for evidence once collected, includes, police officers, administrative staff, clerical employees, court officers and employees, prosecutors, defense attorneys and many others.
Pro Squared President Raphael Feldman developed an early version of the system to help track Arson Evidence gathered by the State Arson investigators in the state of Indiana. By restructuring our database engine, and vital key components, Pro Squared will be capable of expanding the solution to the complete law enforcement community, including Federal, State and Local authorities, all of whom are responsible for knowing the whereabouts of evidence collected when crimes have occurred.
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glassman it looks like a great company. But I have a question, if their cash flow continues to be negative dont you think they may sell more shares to raise money? The oustanding is about 46 mill and the float is only about half so it seems they have shares to sell.
Or did they lock up some of those shares so they wont sell?
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quote:Originally posted by unreal33: dumb question but did PJTG win Wal-Mart contract? Are there other RFID vendors that Wal-Mart maybe looking at?
they have NOT signed up with wal-mart to my knowledge...however, per a recent PR from PJTG:
Recently, Wal-Mart has mandated that all major vendors utilize RFID and recently Pfizer, Smith Kline, Purdue Pharma and the FDA have all announced new RFID programs.
this means there will be hundreds if not thousands of suppliers working on geting the RFID onto their products...
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but PJTG probably isn't the only company making RFID, and the way wal-mart works... they would probably be buying the cheapest RFID they can get their greedy hands on
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adsx and doc are the king of rfid but i think the gtel strats will be used to track the chips... i watched adsx go from penney to 9 bucks...
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quote:Originally posted by diceman: glassman it looks like a great company. But I have a question, if their cash flow continues to be negative dont you think they may sell more shares to raise money? The oustanding is about 46 mill and the float is only about half so it seems they have shares to sell.
Or did they lock up some of those shares so they wont sell?
the 10Q's are very complicated,, i have read and reread them quite few times... esp. since i think the PPS should have already gone back above .10....
they registered 6 million shares per filing s-8 11/1/04... to: 6,000,000 shares of common stock, $0.001 par value (the "Shares"), issuable upon the exercise of various options, issued, or to be issued, pursuant to the Company's 2003 Employee Stock Option Plan, as amended (the "Plan").
looking over the option plans i see that the options were offered starting at .12 and up so they haven't been exersized
October 26, 2004, five founding shareholders of the Company, each being an officer and/or director, exercised a right to convert 21,090,944 shares of common stock into shares of Series A Preferred Stock. Pursuant to the terms of the Series A Preferred Stock, the shares issued are convertible, beginning two years from their original issue date, into shares of the Company's common stock representing 50.98% of the outstanding shares of common stock at the time of conversion.
On June 30, 2004, The Project Group purchased all the issued and outstanding common stock of Dolphin Knowledge, Inc. ("Dolphin") from its shareholders, Mark Beatty and Thor Schueler, for $70,000 in cash and 6,600,000 shares of restricted common stock. Pursuant to the terms of the stock purchase agreement, and a Conversion Rights Agreement entered into in connection therewith, the former Dolphin shareholders have the right to convert the shares of common stock into a new Series C Preferred Stock which are then convertible into 9% of the outstanding common stock of The Project Group, after conversion. This conversion is exercisable only after a conversion by The Project Group founders of their shares of common stock into Series A Preferred Stock. Due to the automatic right given to control 9% of the Company, any future conversions by the founders will result in a change to goodwill.
as best i can tell this purchase is what has been making the bottom line look so bad... they agreed to pay two of the Dolphin owners 140K$/yr salry too...
they have spent a lot of money to win new contracts and they appear to be winning them...
i'm curious why a company 42% insider owned and obviously working for MICROSOFT scares so many people....
yes, the insiders will sell some shares, but i bet they want .30 ....at this point i only want .15 for mine
they agreed to options starting at .12 and going UP from there...
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quote:Originally posted by unreal33: but PJTG probably isn't the only company making RFID, and the way wal-mart works... they would probably be buying the cheapest RFID they can get their greedy hands on
walmart won't be bying the RFID, it will be required in the products at the time of packaging--YOU will pay for it not walmart...
walmart will layoff many inventory related employees as a result of this and the inventory software will have to be upgraded...hmmm PJTG does that i think...
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looking over the form 144's (proposed sale by insiders) the only significant PROPOSED SALE is by Collins Worth Property of 1,293,062 shares...the form 4's show they haven't sold them yet....
the form 4's that are filed since 8/04/04?
they show the common shares converted to preferred by the five founding members....NO OTHER INSIDER SALES ARE FILED
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in other words this should be going up slowly from .05 and its not....
maybe i have missed something....
the only thing i can guess at? IF and i mean IF they are selling the 21 million shares traded in for the preferred....in which case we need to figure out when they run out to tell when it can go up...but i think they were not put on the market..i could be wrong..
i think that it's channeling between 5 and 7 or 8 because it's being traded there..
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