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1st Quarter reports are to be finished and filed on or before the 15th , then there will be solid news about the 1st Quarter increase in sales , Chart looking good , should bounce with some volume ...
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ISELIN, N.J., May 9, 2007 (*********wire via COMTEX) -- SoftNet Technology Corporation (OTCBB:STTC) (German WKN:TG6) announced today the expiration of a warrant originally issued to Sabrina Holdings.
In its Form 8-K filing of August 3, 2006, the Company announced the retirement and cancellation of $1,030,000 of long term debt in exchange for a Warrant to purchase up to 20,000,000 shares of the Company's Class A Common Stock at an exercise price of $.035 per share. That Warrant expired on April 30, 2007.
"The expiration of the Warrant reduces the number of shares the Company may have been obligated to issue in the future in the event the share price climbs. It is unfortunate that in spite of the performance of the Company over the past year the share price was not at a level commensurate with the progress recorded. Management continues to focus on growing the Company and achieving profitability. We are confident that the combination of the attainment of revenue projections and cost containment activities will result in the Company reporting a profitable position in the upcoming months" said Jim Booth, CEO.
Please visit our website at http://www.softnettechnology.com for more information. For Investor Relations, please contact James Booth, CEO, at 908-212-1799, option 7.
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.
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I am in the same position Tman , I am going to call James Booth this morning and see if and when the loan will be due.. I will post answers from the call if I can reach him.. ,,It does look like the price is up 2.857% a little so far this morning . And volume coming in from news.. Gary
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Effective 5:00 p.m. (EST) June 30, 2006, the Company entered into the following agreements related to the retirement and cancellation of $1,030,000 of long term debt: (i) In exchange for the retirement and cancellation of $500,000 of long term debt to Sabrina Holdings, the Company has issued a Warrant to purchase up to 20,000,000 shares of the Company’s Class A Common Stock at $0.035 per share. The Warrant will expire on April 30, 2007. Any shares issuable upon exercise of the Warrant will be unregistered restricted stock and subject registration or an exemption therefrom; (ii) In exchange for the retirement and cancellation of $530,000 of long term debt to DD Investments, the Company has agreed to issue of 5,000,000 shares of the Company’s Class A Common Stock. The shares issuable will be unregistered restricted stock and subject registration or an exemption therefrom.
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They never exercised their warrants. miss understanding on having to wait for the exercise price? imo they could have exercised and taken what they could in exchange for tradable but restricted shares. The risk with warrants worked in Softnets favor imo. Another question is if Softnet will be willing to work out another deal or risk getting themselves blackballed or if Sabrina will just bite the bullet.
edited - if i'm way off base here someone please step in and correct me.
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!?
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I just left a message to Jim about the warrant, But looks like a good thing according to BooDogs post , In my opinion , since it was not for common stock and they would have been restricted it should not hurt trading.. Gary
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I still have not been able to contact Jim again , and has not returned call this morning , but still trying to find something out about the news .. I guess until we get a solid 1st Q report this is going to flat line
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Good news I just spoke to Jim about the Warrant , It did expire and is NOT due so there is no money owed, they do not have to pay them back.. And there is no dilution coming soon.. Good news hope this clears a few minds up about this .. Gary And seems like anyone call him , more than willing to talk..908-212-1799, option 7
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now let's see what he can produce in these filings. i'm ready. VERY little action on the message boards with this. We'll see if Softnet can produce the spark to get things goin again.
Good news Gary. Thanks for passing it on.
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!?
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Thanks Gary. All we can hope for is that they get their overhead down and this thing WILL run. Show us the profits and the price will reflect it. imo. TMAN...
-------------------- In the end, trust only yourself when trading stocks.
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I think you'll be surpriseed when you see the quarterly from what i've been hearing so far T-man. from the last couple PR's and their projections. but I like to see facts in black and white. We'll see if the rubber meets the road.
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!?
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Quick hi to all you STTC-ers. Like all...am hanging in there and knowing it will go. This board is way better by the way than Yahoo. You guys are sharing way more info. Good stuff and thanks for all the insight. Will keep checking back regularly.
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Here is some info that was posted this morning an article in the Pinnacle Digest about the latest news on STTC:: To read this article in its entirety, visit us at www.pinnacledigest.com.
SoftNet Technology Corp. (OTCBB:STTC) experienced an even day in the markets Friday falling combined with 112,260 shares traded. On May 9th they announced the expiration of a warrant originally issued to Sabrina Holdings. They have also recently announced two significant developments should have a positive impact on current and future business. This has spurred a review by our team at PinnacleDigest as we have decided to evaluate this company in respect to their current position in the market.
They have reported the expiration of a warrant originally issued to Sabrina Holdings. Earlier in the week it was reported that SoftNet's Small-Medium Business (SMB) practice was notified of its selection as a TechPro Business Provider by CompUSA. This selection by CompUSA is significant in that the Company was selected from over 10,000 service providers nationwide to deliver top-notch business solutions. We are reviewing the many benefits this selection will result in. We are interested in how this recent news will affect them in terms of their overall development within the technology industry. To read this article in full and to learn more about our expanding, diverse online financial magazine, visit us at www.pinnacledigest.com.
At PinnacleDigest we are committed to providing our current and prospective members with up to date information as well as critical insight into companies across the markets. We are motivated by our members and are constantly striving to provide a friendly online investor based community. Our multi-purpose magazine can be utilized in countless ways which we encourage you to explore.
We are constantly searching the markets for undervalued companies competing within a growing industry. We believe that undervalued companies operating within a growing industry are two factors which need to be understood and incorporated into an investor's approach. We will be reviewing the major news and overall direction of the technology sector as its direction has a varying influence on every company residing within it.
In recent technology news Microsoft Corp. and Yahoo! Inc. have reportedly held talks about a partnership intended to boost their share of the Web search and advertising market. This partnership is most likely aimed to eclipse or at best catch up to Google the largest search engine in the world.
It should be noted that these discussions are in the early stages and reportedly focus on a partnership not a merger. The advertising capabilities of these search engines needs to be constantly reviewed. Shares of Yahoo jumped the most in three years Friday following the report in the New York Post which stated Microsoft wants to buy the company. The advertising world is adapting rapidly on the internet and is a multi billion dollar industry.
Let's turn back to SoftNet Technology Corp. and learn more about this company's recent news and current objectives. Their CEO, Jim Booth had this to say following the news. "The expiration of the Warrant reduces the number of shares the Company may have been obligated to issue in the future in the event the share price climbs. He went on to state that, "We are confident that the combination of the attainment of revenue projections and cost containment activities will result in the Company reporting a profitable position in the upcoming months." They were also notified by HP of an extension to their Business Development Partner Agreement through May 31, 2009. This speaks volumes towards their current relationship and satisfaction level of past work. We are reviewing comments made by Greg Geodakyan the lead Technical Manager to gauge the overall direction of this company. To learn more about this company's most influencing sector and to find out exactly what our online financial magazine has to offer, visit us at www.pinnacledigest.com.
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And Also remember 1st Q report should hit this week ,it is due 5-15-2007 , And I just noticed 78,000 of the trades today are buys at .018 Good sign
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OK lets see if pr is out about filing tommorow.. and it held its own today and looks like MMs are still waiting for this to run here ,, ETRD is waiting with .o23 ready just 6th down the line ..
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SoftNet's Small-Medium Business Practice Positioned for National Play 9:31 AM ET - *********wire SoftNet Technology Corp. (OTCBB:STTC) (German WKN:TG6) announced that the Company's SMB team has made significant technological enhancements that will allow for a nationwide roll-out sooner than anticipated.
SoftNet's SMB business, based in Atlanta, Ga., provides a wide array of IT services to small and medium-sized businesses, including customized server configured to the client's needs, monitoring services, security and data protection, data back-up and business continuity plans. The business is most recognized for the RightStart, RightTrack and RightCare Solutions currently offered through a major electronics retailer and on a direct sale basis.
The SMB team has successfully developed; pilot tested and implemented a fully automated activation process. This allows customers to set up a pre-configured server and request activation which is done on a remote basis from the Company's Network Operations Center (NOC) in Georgia.
"This is a significant development for SoftNet. The Company can now offer the RightStart server and solutions to any potential business user anywhere in the U.S. that has Internet access. Additionally, it eliminates the need for costly on site start-up assistance, with savings and efficiency improvements for both the Company and the customer," reported Steve Henry - VP SMB Practice.
Please visit our website at http://www.softnettechnology.com for more information. For Investor Relations, please contact James Booth, CEO, at 908-212-1799, option 7.
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.
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