posted
Here's a drink to CNCW ... Not only is it my first stock pick, but I also have a honeymoon to pay for next month! Posts: 178 | From: houston | Registered: Mar 2005
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posted
but on the other hand, we're up to 3 pages on this board. Does that give us hot topic status???
Posts: 178 | From: houston | Registered: Mar 2005
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Well ... I've sold out ... moving the $$$ to CNES. Actually, I think it's a good thing that my first stock pick lost me money (~ $90) ... wouldn't want to get too confident!
Posts: 178 | From: houston | Registered: Mar 2005
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CNC ON THE MOVE: CUTS COSTS AND RE-FOCUSES PRODUCT LINES
02/26/2004
(Montreal, February 26, 2004) Central Network Communications (CNC) Inc. reported today that it has undertaken aggressive measures in reducing operating costs and refocusing its product lines as it prepares to finalize the sale of its operations to Viropro Inc. (OTCBB:VPRO) in the coming months.
"We want to make sure our resources and energies are fine-tuned to building our order book, implementing customer contracts, achieving profitability and increasing shareholder value over this year", remarked Robert Egery, President and COO of CNC. "Also, we want to send a clear message to our customers and shareholders that our business foundation is lean, stable and ready for growth in 2004."
Over the past several weeks, the Company has slashed its burn rate by approximately 70% and has closed down its "Win" human resources product line in order to concentrate on what it believes are the substantial market opportunities at hand for its Case Cost Management solution "Pyramid" which is already installed in two Québec hospitals. Pyramid is catching the interest of healthcare institutions across Canada as the market for innovative decision-support systems appears to be rebounding in 2004.
Mr. Egery, with over 20 years experience in high tech, most of it successfully running business development operations in Honeywell, Lockheed Martin and Bombardier, has personally taken over the reins of CNC's sales and marketing initiatives to "raise the bar" in terms of sales projections going forward.
As previously announced, the Company is also preparing to enter the fast-growing Life Sciences market through the possible acquisition of CIHC BIODEV Inc., a firm specializing in building marketing and technology transfer partnerships in the human and animal biotechnology sector. Potential for this business, starting with major agreements between partners in Canada, the US and Brazil, could be substantial, with revenues expected to start during 2004. This acquisition is in its preliminary stages and is subject to, among other things, completed due diligence, a long form agreement and Board approval. The Company anticipates that these developments, combined with others expected over the next several weeks, should provide welcomed assurance to its shareholders.
Importantly, the Acquisition Agreement with Viropro has been signed and Shareholder Approval has been obtained. The transaction will be completed once certain closing conditions are met, including, among other things, SEC approval of an S-4 Registration Statement covering the 20,000,000 shares to be issued, which Viropro intends to file before the end of this month.
Posts: 1207 | From: between buffalo and rochester NY | Registered: Feb 2005
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oooppppsssss....that was from 2004...bad me...forget that one....cant see any other news which would make this move like this...what is up???
Posts: 1207 | From: between buffalo and rochester NY | Registered: Feb 2005
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