SANTA BARBARA, Calif., Feb 21, 2008 /PRNewswire-FirstCall via COMTEX/ -- Warp 9, Inc. (OTC Bulletin Board: WNYN), the premier provider of robust e-commerce platforms and services, announces financial results for its second fiscal quarter ended December 31, 2007.
In commenting on the quarter's results, Harinder Dhillon, Warp 9's CEO, expressed satisfaction over the progress made in the last year in turning around the company's financial performance and positioning the company for future growth and continued profitability driven not only by the sale of it core products but also the potential development and sale of new high margin products which will broaden the company's appeal in its core markets. Highlights of the quarterly results include:
-- Five consecutive quarters of positive net income -- Increase in gross margins from 76.7% to 94.2% year-over-year -- The highest operating income in company history -- 163% increase in cash balances year-over-year -- Working capital improvement from a deficit of ($845,641) to a positive $210,193 year-over-year -- 34% reduction in total liabilities from $2,370,477 to $1,545,682 year-over-year
The quarter ending December 31, 2007 marked the fifth consecutive quarter of positive net income, evidence that the company's restructuring efforts are paying off, with the company achieving stabilized positive cash flow and profitability.
While the company still faces challenges in its turnaround, notably the reduction of overall debt, Mr. Dhillon believes that the company's efforts will continue to show progress. Mr. Dhillon concluded by commenting on the goals that lie ahead: "We will continue to look for ways to increase shareholder value, continue to execute operationally by selling our core products, and look to invest in research and development and other areas needed to accelerate new products to market.
quote:Originally posted by cactus33: WNYN..great bouncer from these levels
posted
STNL!!!! Juice, awesome bounce. You nailed this one. Congrats. I remember trying to get in at 0009 one day, and then I cancelled the order. GEESHHHHHH!!
IP: Logged |
posted
I got in. Thanks Juice! Looks like a golden cross coming on too so maybe this one will run even higher. The chart looks a little like what AWYI has done over the past few weeks.
posted
NTCX * .02 I have NOBO biggest shareholder has 250,000 shares.
NeoTactix Completes BDC Withdraw
IRVINE, CA, Feb 27, 2008 (MARKET WIRE via COMTEX) -- NeoTactix Corporation (OTCBB: NTCX) announces the completion of its withdraw and conversion from its status as a Business Development Company.
On January 11, 2008 the Company completed the final steps necessary to withdraw its BDC election. The Company will no longer be regulated under the Investment Company Act of 1940 as a business development company. The Company has also changed its name from EntreMetrix to NeoTactix as part of the repositioning of the Company.
The Company will continue to pursue its structural support and investment interest in early stage innovations but will do so as an incubator and holding company.
About NeoTactix: Based in Irvine, California, NeoTactix incubates early stage innovations and business opportunities, providing essential structural and financial support services in order to cultivate investment opportunities. For more information on NeoTactix, Inc., visit the company's Web site at www.NeoTactix.com or contact Scott W. Absher (888) 798-9100. The Company's corporate offices are located in Southern California at 18101 Von Karman Avenue, Suite 330, Irvine California 92612.
Safe Harbor Statement: This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "ACT"). Statements in this release that relate to the Company's plans and strategies, as well as management's expectations about new and existing products and services, acquisitions and opportunities, market growth, demand for acceptance of new and existing products and services are forward-looking statements. In particular, when used in the preceding discussion, the words "estimated," "believe," "optimistic," "expect," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the ACT and are subject to risks and uncertainties, and actual results could differ materially from those expressed in forward-looking statements. Such risks and uncertainties include, but are not limited to, unfavorable market conditions, increased competition, limited working capital, and failure to implement business strategies, actions by regulatory agencies, and other risks and uncertainties that could cause actual results to differ materially from historical or anticipated results due to many factors. The Company undertakes no obligations to publicly update or revise such statements. For more details, please refer to the Company's Securities and Exchange Commission filings.
Contact: Scott W. Absher (888) 798-9100 investorinfo*neotactix.com
IP: Logged |
posted
IVCM? LOL Haven't thought about that stock in YEARS!
I was in for a while when they first got on the market.
Keep SKYF on radar too. Not quite the low float you guys are looking for (276M OS, 100M float) but definitely at bottom and waiting on news of completed merger with company that has 18M in revenues last year.
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
