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Huge Alert On: (OTCBB:DDDC) - (OTCBB:GCHK) - (OTCBB:LGDI)
(M2 PressWIRE Via Acquire Media NewsEdge) Rochester NY -- www.otc-advisors.com names (OTCBB:DDDC) deltathree, Inc. (OTCBB:GCHK) Greenchek Technology, Inc. and (OTCBB:LGDI) Legend International Holdings, Inc. its "Bulls of the day"!
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About deltathree
Founded in 1996, deltathree, Inc. is a global provider of Voice over Internet Protocol (VoIP) telephony services, products, hosted solutions and infrastructures for service providers, resellers and direct consumers. Supporting tens of thousands of active users around the world, deltathree serves customers through its two primary distribution channels: the service provider and reseller channel and the direct-to-consumer channel. deltathree's advanced solutions offer service providers and resellers a full spectrum of private label IP-based digital voice and video products and services, as well as a back-office suite of services. Utilizing advanced Session Initiation Protocol (SIP) technology, deltathree provides all the components to support a complete VoIP service deployment. deltathree's direct-to-consumer channel consists of the iConnectHere direct-to-consumer offering and joip, which powers the VoIP service of Panasonic's Globarange hybrid phone.
For more information about deltathree please visit: www.deltathree.com.
For more information about iConnectHere, please visit our website at www.iconnecthere.com.
For more information about joip, please visit our website at www.joip.com.
Todays News :
NEW YORK, May 7, 2010 -- deltathree, Inc. (OTCBB:DDDC), a global provider of Voice over Internet Protocol (VoIP) telephony services, products, hosted solutions and infrastructures for service providers, resellers and direct consumers, today announced financial results for the first quarter 2010, ended March 31, 2010.
Mr. Effi Baruch, interim Chief Executive Officer and President, and Senior Vice President of Operations and Technology of deltathree, stated, "Our first quarter 2010 results reflect our ongoing focus on improving deltathree's bottom line profitability levels, as we reduced the sequential quarterly GAAP net loss by more than 58 percent compared to the fourth quarter of 2009 and the company's adjusted EBTIDA loss by more than 81 percent over the same period. Material improvements in establishing a more efficient operational structure, as well as more effectively scaling costs to current revenue levels, form a stronger foundation upon which to ramp our digital video and voice services as well as extend the international reach of our next generation communications offerings.
"Looking ahead, we see solid opportunities for growth in the video phone market based on a rising demand for our video phone offerings as well as the continued successful rollout of our next generation digital video and voice solutions. During the first quarter we continued to increase the number of our video phone subscribers, building our service provider business in terms of providing digital video and voice services to consumers in the Asia Pacific region. With the current market for video phone services largely underpenetrated on a global basis, and with the widespread availability of quality high speed Internet access to global consumers and small businesses, we see a vast potential market to leverage our world-class international VoIP and video-over-IP network," concluded Mr. Baruch.
For the first quarter of 2010, deltathree reported total revenues of $3.1 million compared with $5.3 million reported for the first quarter of 2009. The year-over-year decline in quarterly revenue was primarily related to the suspension of the operations of deltathree's largest reseller customer in the fourth quarter of 2009 as well as higher levels of revenue from service provider customers in the first quarter of 2009.
First quarter 2010 GAAP net loss totaled $472,000, or $(0.01) per diluted share, compared to a GAAP net loss for the first quarter of 2009 of $441,000, or $(0.01) per diluted share. First quarter 2010 non-GAAP adjusted EBITDA (as defined below) loss was $236,000, or $(0.00) per diluted share, compared to a non-GAAP adjusted EBITDA loss of $119,000, or $(0.00) per diluted share, for the first quarter of 2009.
deltathree defines adjusted EBITDA as earnings before stock-based compensation, interest, income taxes, depreciation and amortization. deltathree uses adjusted EBITDA as a measure of the company's operating trends. The adjusted EBITDA numbers presented may not be comparable to similarly titled measures reported by other companies. Consistent with Regulation G under the U.S. federal securities laws, the non-GAAP measures in this press release have been reconciled to the nearest GAAP measure, and this reconciliation is located under the heading "Reconciliation of Non-GAAP Financial Information to GAAP" following the Condensed Consolidated Statements of Cash Flows included in this press release.
As of March 31, 2010, deltathree held approximately $1.5 million in cash, cash equivalents, restricted cash and short-term investments, and had negative working capital equal to approximately $2.3 million and negative stockholders' equity equal to approximately $1.8 million. While deltathree's cost-reduction activities continue to yield measurable improvements, the company is continuing to draw upon its cash reserves on a monthly basis.
On March 1, 2010, deltathree entered into a loan and security agreement with D4 Holdings, securing a line of credit in a principal amount of $1.2 million. On March 2, 2010, and May 3, 2010, the company received $500,000 and $250,000, respectively, from D4 Holdings pursuant to notices of borrowing under the loan agreement. The credit line provides deltathree important near-term financial flexibility and reflects the confidence in the company held by D4 Holdings, the majority stockholder of deltathree and whose ownership includes the owners of ACN, Inc., an international direct seller of telecommunications services. The company is continuing to explore potential capital initiatives aimed at further strengthening its balance sheet and remedying its negative working capital.
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About GreenChek
GreenChek Technology, Inc. is traded under the symbol GCHK on the OTCBB exchange and is based in San Francisco, California. GreenChek manufactures and distributes hydrogen injection technology that is primarily focused on mobile transportation applications, as well as stationary power generation applications. GreenChek manufactures an emission reducing device simply known as the ERD, which can be retrofitted to any vehicle regardless of fuel source. GreenChek provides innovative world-class mobile Greenhouse Gas (GHG) emissions reduction technology, while greatly enhancing fuel economy for the mobile transportation industry. GreenChek's Onboard Hydrogen Generation and Injection (OHGI) technology is positioned to occupy the pre-eminent position in the emerging market for emissions reduction technology and fuel economy enhancement.
Todays News :
SAN FRANCISCO, CA, May 07, 2010 GreenChek Technology, Inc. (OTCBB: GCHK) is pleased to announce its continued pilot program success in France.
Preliminary results outlining the performance of the newly upgraded ERD-3.0 show excellent results, which exceed GreenChek's 8% emission savings goal. GreenChek is expected to host independent European third party testing to finalize emissions reduction and fuel savings tests in approximately one to two months. Management expects these results to be pivotal to a widespread uptake of the ERD-3.0 throughoutEurope's trucking industry.
"GreenChek remains fully committed to the performance of our product and continues to believe that the upgraded ERD-3.0 will be an important driver of change for moving the European transportation industry to a low emission economy," states Lincoln Parke, President of GreenChek.
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About Legend International Holdings, Inc.
For additional information please visit http://www.lgdi.net/
Todays News :
MELBOURNE, Australia, May 07, 2010 -- Legend International Holdings, Inc. (OTCBB:LGDI) is pleased to announce that it has set a record date of June 4, 2010 for entitlements for the spin out of its diamond, gold and base metal interests.
On March 16, 2010, Legend announced that it plans to spin out, to a new Delaware corporation to be formed, the diamond, gold and base metal interests of Legend. Following the spin out, Legend will be a 100% pure phosphate company. Shareholders of Legend will receive shares of common stock in the new corporation on a pro-rata basis to the shares they hold in Legend, at the record date. The Company has commenced the preparation of the necessary documentation for the spin out.
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