Consortium Including Caneum, Inc. Receives 10 Year, $5 Billion Government-Wide Acquisition Contract US General Services Administration Notifies Prime Vendors of Historic Contract Award With a "Notice to Proceed" Expected by Early February Dec 27, 2006 7:30:00 AM
NEWPORT BEACH, CA -- (MARKET WIRE) -- 12/27/06 -- Caneum, Inc. (OTCBB: CANM), a global provider of business process and information technology outsourcing services, today announced that its bid team has received a formal award notice and signed contract from the US government on a 10 year, $5 billion Veterans Technology Services (VETS) Government-Wide Acquisition Contract (GWAC).
The US General Services Administration (GSA) notice signifies the expiration of the mandatory public protest period and the new contract is accompanied by a projected "Notice to Proceed" date of late January or early February. GSA is currently completing their debriefings to all prime vendors and is closing out the remaining administrative preparations necessary to begin work within this newly formed and Congressional approved appropriations contract vehicle.
"We are extremely excited to be part of the winning bid team for this historic new US government funding vehicle," said Rob Morris, SVP of Caneum. "With the expiration of the public protest period, we now expect a first quarter start date for the 10 year period in which we can deliver services throughout the US government and its agencies. While we cannot immediately quantify the financial impact to the Company for calendar year 2007, we expect that this public sector consortia award will easily represent the largest subcontract win in our Company's history."
About Caneum, Inc.:
Caneum, Inc. is a global provider of business process and information technology outsourcing services across vertical industries, including technology, energy, government, transportation, financial services, education and healthcare. The Company provides a suite of business strategy and planning capabilities to assist companies with their "make versus buy" decisions in the areas of data, network, product development, product maintenance and customer support, and fulfills its services in-house, on-shore, near-shore and off-shore, depending on the business goals and objectives of its global customers. In parallel, the Company is opportunistically pursuing accretive acquisitions within its core outsourcing product and service suite in order to broaden its core capabilities, expand its customer base and supplement its organic growth. For more information, please visit the Company's web site at http://www.caneum.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: With the exception of historical information, the statements set forth above include forward-looking statements that involve risk and uncertainties. The Company wishes to caution readers that a number of important factors could cause actual results to differ materially from those in the forward-looking statements. Those factors include, but are not limited to, the risk factors noted in the Company's filings with the United States Securities and Exchange Commission, such as the rapidly changing nature of technology, evolving industry standards and frequent introductions of new products, services and enhancements by competitors; the competitive nature of the markets for the Company's products and services; the Company's ability to gain market acceptance for its products and services; the Company's ability to fund its operational growth; the Company's ability to attract and retain skilled personnel; the Company's ability to diversify its revenue streams and customer concentrations; and the Company's reliance on third-party suppliers.
Contact:
Caneum, Inc. Gary Allhusen EVP, COO & Principal Financial Officer (949) 273-4007 Email Contact
or
TMS Capital, LLC Thomas Sauve (Investors / Media) (646) 245-2465
Posted by tompom on :
in at .69
Posted by stocktrader22 on :
Wow thats huge news!
Posted by stocktrader22 on :
5 billion contract is a lot of money for a stock under a dollar!
Posted by tompom on :
yes, i´m surprised it´s only the 2 of us here...
Posted by PCola77 on :
Hey, just a heads up, it's a comsortium INCLUDING them. They could just be the paperclip supplier. It doesn't say how much their portion is.
Posted by portman on :
Not gonna move much more until the above is cleared up.
Posted by JL on :
quote:Originally posted by portman: Not gonna move much more until the above is cleared up.
Yah i hate misleading PR's.
Posted by tompom on :
yes, i´m sorry for even bringing it up folks! i must be a total moron! i´m out at .87 hope nobody lost too much money on this one... geez, some of you guys wouldn´t notice a momo play even if it kicked your ass!
Posted by stocktrader22 on :
Good job tompom....i was late getting into this one and paid for it. In at .80 out at .81
no biggie lost $5 or something
still could have done alright at this point...just didnt want this to fall to much on me.
Posted by PCola77 on :
then bill it as a momo play and not a .57 company getting a $5billion deal. Sound fair?
quote:Originally posted by tompom: yes, i´m sorry for even bringing it up folks! i must be a total moron! i´m out at .87 hope nobody lost too much money on this one... geez, some of you guys wouldn´t notice a momo play even if it kicked your ass!
Posted by PCola77 on :
I was giving a heads up so that people didn't buy in too late thinking it still had huge potential. I'm glad you made money on it, and I never said it was a bad play, just that the PR was very misleading, IMO, and I wanted to make sure everyone who was considering this knew that.
Posted by tompom on :
and you´re actually right PC, i´m not going to argue about that... however i didn´t post that a .57 company landed a 5 billion-deal, instead i posted the ticker, the current pps and the news the news might have been misleading but not me! and i thought it is clear that any penny-play is a momo-play but for you and anybody else i´m gonna add the word momoplay in my headlines from now on...
Posted by tompom on :
and it´s still in play btw... .94 x 1.00
Posted by stocktrader22 on :
Damn there is $1.00 im pissed at myself.
Posted by tompom on :
yes, this damn company! misleading us here... where is the SEC when you need them?...
Posted by stocktrader22 on :
HOLY SH*T $1.20
I'm really furious!
Posted by tompom on :
so much about that.... NEXT!!!
Posted by stocktrader22 on :
Wow Im going to be beating myself up for a while here lol...
Posted by tompom on :
i´m pissed now too... gotta watch FCCN to make me feel better
Posted by PCola77 on :
Tom (and st22 to a lesser extent) I apologize if you sold based on what I said and missed some potential profits. However, I will continue to post the other side in any thead where I think there is significant information that would lead me to believe that a big spike in price is not justified.
And tom, you're correct, you never stated anything about the $5bil, that was st22. So I would like to also apologize for implying that you did anythign misleading.
Take care.
Posted by tompom on :
quote:Originally posted by PCola77: Tom (and st22 to a lesser extent) I apologize if you sold based on what I said and missed some potential profits. However, I will continue to post the other side in any thead where I think there is significant information that would lead me to believe that a big spike in price is not justified.
And tom, you're correct, you never stated anything about the $5bil, that was st22. So I would like to also apologize for implying that you did anythign misleading.
Take care.
it´s cool i would have sold early anyway...i tend to do that occasionally....LOL
Posted by pick em low on :
CANM Can Him? don't even know him....
Posted by pick em low on :
it hit 1.20 on what I would call low volume for a mover of that magnitude just think if this gets more attention late today or tomorrow.... it took 14m shares to move SIGA from 2.70 to 5.00 and only 300k shares here to almost double CANM
Posted by pick em low on :
get some MDWV when u done here... it moves pretty easy as well holding a 66% gain from 4 or 5 days ago when it was .30
Posted by PCola77 on :
I'd say I do that 90% of the time, the other 10% of the time I sell WAYYYYYYYYY too late...
I tend to be very skeptical, in case you hadn't noticed, so anytime I see a red flag I bail (or just don't buy in the first place). Usually I miss some big gains, but more often then not, I save myself from big losses. Like someone once told me, you don't HAVE to always be trading. Sometimes the best trade is the one you don't make.
quote:Originally posted by tompom:
quote:Originally posted by PCola77: Tom (and st22 to a lesser extent) I apologize if you sold based on what I said and missed some potential profits. However, I will continue to post the other side in any thead where I think there is significant information that would lead me to believe that a big spike in price is not justified.
And tom, you're correct, you never stated anything about the $5bil, that was st22. So I would like to also apologize for implying that you did anythign misleading.
Take care.
it´s cool i would have sold early anyway...i tend to do that occasionally....LOL
Posted by Repoman75 on :
quote:Originally posted by tompom: so much about that.... NEXT!!!
Posted by tompom on :
quote:Originally posted by Repoman75:
quote:Originally posted by tompom: so much about that.... NEXT!!!
LOL i´m getting used to that face...
Posted by JL on :
Anyone know the OS/Float
Posted by stocktrader22 on :
New News
Caneum, Inc. Wins New Customer Contracts Including U.S. Trust and Panasonic Avionics Company Adds $1.9M in New Customer Wins and Existing Customer Expansions in the Last 60 Days and Expects ~$2.5M in Revenues in 1 QTR 2007
NEWPORT BEACH, CA, Dec 28, 2006 (MARKET WIRE via COMTEX) -- Caneum, Inc. (OTCBB: CANM), a global provider of business process and information technology outsourcing services, today announced that it has closed $1.9M of new business in the last 60 days.
This new business includes new customer additions with U.S. Trust, Hawkeye Cohesion, Clopay, Panasonic Avionics, Escalate Retail, BitCentral, ClickStar, Seal Consulting, DDEi, Passenger.com and Clubspaces, and existing customer contract expansions with DIRECTV, Keane, McGraw Hill, Tatum Partners, Paciolan, D4 Solutions and Isensix.
Gary Allhusen, COO of Caneum, commented, "The fourth quarter of the year has been extremely active for our team in winning new customer business for execution in the first half of 2007. Based on the contracts executed in the last 60 days, we expect to see first quarter organic revenues of approximately $2.5M, excluding the incremental effects expected from closing the US General Services Administration government contract announced yesterday."
About Caneum, Inc.:
Caneum, Inc. is a global provider of business process and information technology outsourcing services across vertical industries, including technology, energy, government, transportation, financial services, education and healthcare. The Company provides a suite of business strategy and planning capabilities to assist companies with their "make versus buy" decisions in the areas of data, network, product development, product maintenance and customer support, and fulfills its services in-house, on-shore, near-shore and off-shore, depending on the business goals and objectives of its global customers. In parallel, the Company is opportunistically pursuing accretive acquisitions within its core outsourcing product and service suite in order to broaden its core capabilities, expand its customer base and supplement its organic growth. For more information, please visit the Company's web site at http://www.caneum.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: With the exception of historical information, the statements set forth above include forward-looking statements that involve risk and uncertainties. The Company wishes to caution readers that a number of important factors could cause actual results to differ materially from those in the forward-looking statements. Those factors include, but are not limited to, the risk factors noted in the Company's filings with the United States Securities and Exchange Commission, such as the rapidly changing nature of technology, evolving industry standards and frequent introductions of new products, services and enhancements by competitors; the competitive nature of the markets for the Company's products and services; the Company's ability to gain market acceptance for its products
Posted by JL on :
Hmmm thats actually good size deal for a company with CANM's small OS, and thats not including the future potential from the Govt deal. Could it make its way back to $1 next week?
Posted by stocktrader22 on :
Looks like the company is really starting to do good things. Looks nice at these prices.
Posted by stocktrader22 on :
O/S is only 6.3 million on this one.
$1.9 million and a new customer to boot. Not bad.
This looks good.
Posted by stocktrader22 on :
Looks like pissed off buyers who got in high yesterday are selling off for tax purposes. This is great news today, and I look for it to rebound shortly.
Posted by Repoman75 on :
Doen 17%... DOWN GOES FRAZIER!
Posted by stocktrader22 on :
LOL do you have any clue what you are saying REPO...I started posting again when this was at .63
So its about even. I think this is undervalued based on contracts and 6.3 million float. At least say something educated here.
Posted by Repoman75 on :
Nope.. it's Thursday, end of the year, I refuse to say anything educated today.
The stock is down 17% today, therefore, it gets my Howard Cosell call.
[URL=http://www.mpturner.net/audio/frazier.wav ]web page[/URL]
Posted by pick em low on :
WTF how can this actually fall lucky I not in it but seems intriguing
I like MDWV and AAGH to make runs in early Jan
Posted by stocktrader22 on :
quote:Originally posted by pick em low: WTF how can this actually fall lucky I not in it but seems intriguing
I like MDWV and AAGH to make runs in early Jan
Im a little confused myself. Great news..a huge run to $1.23 yesterday and now back to its previous level, and 52 week low is .55
Doesn't add up. Its been all sells today, very oversold, once buying comes in this moves.
6.3 million O/S 3.4 million float
Posted by JL on :
I think today's dip had to do with a lot of people in the Negative on this stock from yesterday's fall from 1.00-1.20 trading range volume. So people went ahead and took the tax loss since they had today and tommorow as last days for tax loss selling. I think once thats over the news should reflect the stock price better, next week perhaps.
Posted by stocktrader22 on :
JL I agree with you. Lots of people bought from .80 and up yesterday. Many sold today for the tax loss. There was basically selling all day. The company is doing very well, and at .60 its almost at its 52 week low, with in the last day 2 great contracts coming out. The market knew yesterday what this was worth, but with any low floater, daytraders pushed people to sell when the price started to drop and became an avalanche.
This stock is undervalued, there is no dilution...float is SO low its not even funny. Insiders are not selling, they would be stupid too.
Most insider bought at average cost in the .70's and .80's and one has an average at .50
with options they can exercise them, but they wouldnt sell because the options are for the most part higher than the current share price.
So lets take a look and think about this one.
Daytraders flipping out of a low floater yesterday for profits...equals panic selling which continues today for people who bought at the top after the big decline...which equals an even lower price. And one of the last days for tax selling. It went down today on fantastic news. Trust me that wont last long. Today's RSI was soooo oversold its not even funny.
Good luck...
January I think we see .80+
Posted by stocktrader22 on :
The key thing here is how many stocks with annual revenues that this company pulls off with 3.4 float or someowhere around that are at .60
should probably be much higher...especially with how fast they are growing. Even though I hate ARCA i think if they were dumping, the company would have diluted the hell out of this by now. So it could have just been a big buyer from yesterday...hoping to make a quick buck.
Posted by JL on :
stocktrader22 good DD. I looked into that Form4 insider trades link and very nice amount of insider buys in the past 2 years. Its amazing how much of the OS in sheer % the insiders have bought up in .60s and .70s the past 2 years. Looks like the revenues they are pulling in quarterly are being reinvested into the company . Keeping an eye on this for longer than I intended.
It is amazing what a few buys does for this stock
Posted by stocktrader22 on :
Don't forget we are going to hear more about the contract from the government soon....this has a great risk vs reward situation.
won't see below .56 IMO
Posted by stocktrader22 on :
NEWS TODAY
Caneum, Inc. Completes Acquisition of Continuum Systems Pvt. Ltd. 1/4/2007
Accretive Acquisition Results in Expanded Operations Worldwide, Including Caneum Asia Pacific Pte. Ltd. in Singapore and Caneum India Pvt. Ltd. in India
NEWPORT BEACH, CA, Jan 04, 2007 (MARKET WIRE via COMTEX News Network) -- Caneum, Inc. (OTCBB: CANM), a global provider of business process and information technology outsourcing services, today announced that effective December 31, 2006, it has closed its acquisition of Continuum Systems Pvt. Ltd. of India.
Alan Knitowski, Chairman of Caneum, commented, "We are extremely pleased to have closed our acquisition of Continuum Systems Pvt. Ltd. and look forward to continuing to expand our international outsourcing resources and capabilities. Both the Indian and Asian markets continue to grow aggressively and we expect that our new multi-country delivery footprint will provide a strong foundation to further our business model of growing via organic sales and additional accretive acquisitions."
The Company has initiated activities in India to rename Continuum Systems Pvt. Ltd. to Caneum India Pvt. Ltd. and expects to complete this process within the next 60 days. Jesper Lindorff, former Managing Director of Continuum Systems Pvt. Ltd., is now Managing Director and CEO of the Company's Indian operations and all of Continuum's approximately 100 employees have been retained.
Continuum Pvt. Ltd. was generating both positive operating cash flow and net income at closing. On an un-audited basis, it generated approximately $384K in revenues and $191K in gross profit for the quarter ended September 30, 2006. On an annualized basis, this quarterly performance equated to approximately $1.54M in revenue and approximately $764K in gross profit.
Full details of the acquisition can be found in the 8-K now on file with the SEC and submitted in parallel to this release.
About Caneum, Inc.:
Caneum, Inc. is a global provider of business process and information technology outsourcing services across vertical industries, including technology, energy, government, transportation, financial services, education and healthcare. The Company provides a suite of business strategy and planning capabilities to assist companies with their "make versus buy" decisions in the areas of data, network, product development, product maintenance and customer support, and fulfills its services in-house, on-shore, near-shore and off-shore, depending on the business goals and objectives of its global customers. In parallel, the Company is opportunistically pursuing accretive acquisitions within its core outsourcing product and service suite in order to broaden its core capabilities, expand its customer base and supplement its organic growth. For more information, please visit the Company's web site at http://www.caneum.com.
About Continuum Systems Pvt. Ltd.:
Continuum Systems Pvt. Ltd. is an approximately 100-person off-shore outsourcing company founded in 2002 and based in New Delhi (Gurgaon), India. The Company provides (1) application services, including development, integration, re-engineering, migration and maintenance, (2) customer support, including e-mail, chat and voice, (3) business process outsourcing, including technical support, data conversion and data mining, and (4) e-services, including web design, search engine optimization and e-commerce. The Company's customer base includes companies from Sweden, Switzerland, the United Kingdom, Nigeria, India, Mauritius, Indonesia and the United States. For more information, please visit the Company's web site at www.continuum-systems.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: With the exception of historical information, the statements set forth above include forward-looking statements that involve risk and uncertainties. The Company wishes to caution readers that a number of important factors could cause actual results to differ materially from those in the forward-looking statements. Those factors include, but are not limited to, the risk factors noted in the Company's filings with the United States Securities and Exchange Commission, such as the rapidly changing nature of technology, evolving industry standards and frequent introductions of new products, services and enhancements by competitors; the competitive nature of the markets for the Company's products and services; the Company's ability to gain market acceptance for its products and services; the Company's ability to fund its operational growth; the Company's ability to attract and retain skilled personnel; the Company's ability to diversify its revenue streams and customer concentrations; and the Company's reliance on third-party suppliers.
Copyright 2007 Market Wire, All rights reserved.
Posted by stocktrader22 on :
"Continuum Pvt. Ltd. was generating both positive operating cash flow and net income at closing. On an un-audited basis, it generated approximately $384K in revenues and $191K in gross profit for the quarter ended September 30, 2006. On an annualized basis, this quarterly performance equated to approximately $1.54M in revenue and approximately $764K in gross profit"
![[Smile]](smile.gif)
![[Big Grin]](biggrin.gif)
. Keeping an eye on this for longer than I intended.