Archive for the 'AMEX' Category
SAN DIEGO–(BUSINESS WIRE)–Axesstel, Inc. (AMEX:AFT) announced the staff of the American Stock Exchange (Amex) notified Axesstel that Amex has accepted Axesstel’s plan to regain compliance with Amex’s continued listing standards.
As previously announced, on March 5, 2008, Axesstel received notice from Amex indicating Axesstel was not in compliance with Section 1003(a)(i) and Section 1003(a)(ii) of the Amex Company Guide. Specifically, Amex staff noted Axesstel’s stockholder’s equity was less than $2,000,000 and losses from continuing operations and/or net losses were incurred in two out of the three most recent fiscal years, and that Axesstel’s stockholder’s equity was less than $4,000,000 and losses from continuing operations and net losses were incurred in three out of the four most recent fiscal years. In response, on April 7, 2008, Axesstel submitted a plan of compliance to Amex. The plan of compliance outlined the actions Axesstel is taking to increase its profitability.
On May 2, 2008, Axesstel reported first quarter 2008 financial results demonstrating significant improvements over first quarter 2007 and fourth quarter 2007. First quarter of 2008 revenues were $24.6 million, including data products revenue of $13.6 million. This compares to first quarter of 2007 revenues of $25.2 million, including $5.1 million from data products, and fourth quarter of 2007 revenues of $13.8 million, including data products revenue of $9.2 million. Gross margin for the first quarter of 2008 was $6.6 million, or a record 27 percent of revenue, compared to $4.6 million, or 18 percent of revenue, for the same period last year and $2.9 million, or 21 percent of revenue, for the prior quarter. Net income for the first quarter of 2008 was $257,000 or $0.01 per diluted share, compared to a net loss of $1.2 million or $0.05 per share for the first quarter of 2007 and a net loss of $5.0 million or $0.22 per share for the fourth quarter of 2007.
On May 5, 2008, Amex notified Axesstel that Amex accepted the plan of compliance as it made a reasonable demonstration of Axesstel’s ability to regain compliance with the continued listing standards by September 7, 2009. Accordingly, Axesstel was granted an extension until September 7, 2009 to regain compliance with the continued listing standards.
Axesstel is not currently in compliance with Amex continued listing standards and its listing on Amex is being continued pursuant to the extension granted following Amex’s review of the plan of compliance discussed above. Axesstel will be subject to periodic review by Amex during the extension period. Continued listing on Amex is dependent upon making progress consistent with the plan of compliance or in regaining compliance with the continued listing standards by the end of the extension period.
ABOUT AXESSTEL, INC.
Axesstel (AMEX:AFT) is a recognized industry leader in the design and development of fixed wireless voice and broadband data products. Axesstel’s best in class product portfolio includes wireless web computers, broadband modems, 3G gateways, voice/data terminals, fixed wireless desktop phones and public call office phones for access to online computing, high-speed data and voice calling services. The company delivers innovative fixed wireless solutions to leading telecommunications operators and distributors worldwide. Axesstel is headquartered in San Diego, California with a research and development center in Seoul, South Korea. For more information on Axesstel, visit www.axesstel.com.
© 2007 Axesstel, Inc. All rights reserved. The Axesstel logo is a trademark of Axesstel, Inc
LOS ANGELES–(BUSINESS WIRE)–National Lampoon, Inc. (AMEX:NLN), the most widely recognized brand in comedy, today announced that it has acquired the website, and retains an option to purchase the licensing division, of Rivalfish (www.rivalfish.com), the #1 college sports rivalry brand, for an undisclosed sum.
Prior to the acquisition, Rivalfish was part of the National Lampoon Humor Network, the number one humor destination on the web, as ranked by ComScore. This acquisition follows the recent acquisitions of College Hangover (www.CollegeHangover.com) and Drunk University (www.DrunkUniversity.com), as National Lampoon continues to grow its portfolio of wholly owned web properties.
“Rivalfish has quickly emerged as a favorite destination for sports fans in the National Lampoon Humor Network, and is a natural fit with our fast growing sports focused blog, NationalLampoonSplog.com,” said National Lampoon Chief Executive Officer Daniel Laikin. “We are excited to expand our relationship with Rivalfish as we increase the range of content we offer our fans online and continue to grow National Lampoon’s web presence. The sports focused comedy space is a quickly growing revenue generating area for us.”
Rivalfish.com was founded in 2004 by three college sports fanatics who shared a passion for finding success at other people’s expense. The merchandising and licensing division of Rivalfish offers products including hoodies, t-shirts and magnets for die-hard fans. Rivalfish allows buyers to customize the Rivalfish logo with their own teams and then place it on their choice of merchandise, giving each fan the chance to wear their colors with pride.
Rivalfish cofounder Michael Raspatello commented, “We’re fully confident that National Lampoon will have no problem taking the Rivalfish brand of culture and satirical chauvinism farther than any mother would ever approve!”
Rivalfish.com also hosts the site’s online magazine “The Rival Room,” which delivers daily bulletins on sports, humor, music and pop culture. The site also features Rivalfish’s “Fish Fry,” a web TV show with a monthly video podcast and roast of all things sports, hosted by Rivalfish founders Jack Storm and Slam Jackson.
Rivalfish.com has been featured in publications such as Sports Illustrated, USA Today and The Chicago Sun Times. The site’s founding partners were also profiled in Entrepreneur Magazine’s Hot List Issue.
Sam’s Notes
To be honest, my goto place for humor in regards to the college set has been (and still remains) collegehumor.com. Not even the National Lampoon site can hold a candle to College Humor. Just take a quick look at this Alexa chart and see for yourself.
See that one globular line at the bottom? That is all of the National Lampoon sites.
I don’t know what National Lampoon paid for this site but why are they going for the bottom of the barrel? If they were serious about getting a leg up in the online arena they would be looking to buy a site like College Humor, not these little nobody sites.
SANTA ANA, Calif.–(BUSINESS WIRE)–Iteris, Inc. (AMEX:ITI), a leader in the traffic management market that focuses on the application and development of advanced technologies, today announced it was awarded a contract valued at $547,000 from the Utah Department of Transportation (UDOT) to provide statewide vehicle and pedestrian detection support services.
“Iteris has been involved in many UDOT traffic management projects over the years and we are excited to continue our support in this region with the implementation of vehicle and pedestrian improvements statewide,” said Abbas Mohaddes, president and chief executive officer for Iteris. “We have always enjoyed great working relationships with the UDOT Region traffic and signal engineers and local contractors. Iteris brings a highly-energetic, experienced and pro-active staff that has the ability to think on their feet and do whatever is necessary to ensure project quality and the satisfaction of UDOT.”
Iteris will provide a variety of services as part of this contract which include: technical field engineering, the preparation of detection evaluation guidelines, investigation of known detection problems, and the supervision of contractor repairs. Iteris is a specialist in vehicle and pedestrian detection and has successfully provided similar services to many other agencies.
UDOT has recently obtained funding to focus on improving and repairing vehicle and pedestrian detection and bring it back to full operation at all state maintained traffic signals. Iteris will help UDOT track these funds, demonstrate measurable benefits and utilize the available funding to repair detection and provide improved signal operations.
Work on this contract began last month and the expected completion date is the end of 2008. Having completed numerous projects for the State of Utah, Iteris has over 40 years of cumulative, direct UDOT experience with a comprehensive background in all UDOT detection systems and technologies.
NORTHVALE, N.J.–(BUSINESS WIRE)–Ivivi Technologies, Inc. (AMEX:II), a leader in non-invasive, electrotherapeutic technologies, today announced that trading of its common stock on the NASDAQ Capital Market will begin today, January 2, 2008 under the symbol IVVI. Following the close of trading on December 31, 2007, Ivivi’s common stock will no longer trade on the American Stock Exchange.
NASDAQ® is the largest U.S. electronic stock market. With approximately 3,200 companies, it lists more companies and, on average, its systems trade more shares per day than any other U.S. market. NASDAQ is home to companies that are leaders across all areas of business including technology, retail, communications, financial services, transportation, media and biotechnology. NASDAQ is the primary market for trading NASDAQ-listed stocks. For more information about NASDAQ, visit the NASDAQ Web site at http://www.nasdaq.com or the NASDAQ NewsroomSM http://www.nasdaq.com/newsroom.
DALLAS–(BUSINESS WIRE)–Sport Supply Group, Inc. (AMEX: RBI) today stated that its normal policy is not to comment on unusual market activity and that it is not aware of any reason for Friday’s higher than average trading volume and stock price decline.
Adam Blumenfeld, Chairman of the Board and Chief Executive Officer stated: “We don’t typically comment on unusual market activity, industry speculation or rumors. However, in light of recent trading activity in our stock, we felt it was important to communicate that we are not aware of any material, undisclosed information or corporate development that would contribute to Friday’s decline or unusually high trading volume. We remain committed to our operating plan and pleased with our progress.”
Sam’s Notes
Keep your eyes open for email and fax scams on this one coming out in the next week or two. It is not unusual for such things to occur shortly after a highly volatile day of trading for a given stock. The scammers buy it cheap ahead of time and then try to get you to buy it at an inflated price later.
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