traet... i posted this over on raging bull...your guess is as good as mine..or anybody's for that matter till some of the blanks get filled in.
...it really tied the company in knots for a while having this dispute w/the vc group.
with that problem now seemingly out of the way and one acquisition offer for the company already on the table and at standstill until sept 11 while they negotiate w/another acquisition offer it looks as though somebody(s) is interested in us.
this from 2nd qtr release:
MOUNTLAKE TERRACE, Wash., May 31 /PRNewswire/ -- Datamarine International Inc. (OTC Bulletin Board: DMAR - news) reported a second quarter loss of $0.51 per share on sales of $1,841,600 compared to a net loss of $0.14 per share on sales of $3,513,731 in the comparable quarter last year. David Thompson, President, stated, ``We expected revenues to be lower following an unusually strong quarter last year. Customers are very excited about our new land mobile and marine products and order backlogs are strong. Working capital constraints caused by an ongoing dispute with our debenture holder continue to hinder our ability to fill orders, but we are hopeful the matter will be resolved in the near future so we can move the company ahead.'' Thompson reiterated that the company has recently booked substantial orders in both its marine and land mobile segments which will contribute to the company's third quarter results.
this from a couple of weeks prior to 2nd qtr release:
Datamarine International Inc. Receives $425,000 Order for VHF/DSC Marine Communication Systems for Use by Israeli Navy
MOUNTLAKE TERRACE, Wash., May 16 /PRNewswire/ -- David Thompson, President, Datamarine International Inc. (OTC Bulletin Board: DMAR - news) announced today the award of an order totaling more than $425,000 for use in the Israeli Navy's communications systems. The equipment will become a substantial part of the Navy's Global Marine Distress and Safety System (GMDSS).
Thompson stated, ``We are pleased to receive this order because it represents growing recognition of the excellence of our GMDSS engineering efforts. Marine communications is increasingly moving toward the use of state-of-the-art RF techniques and our Company, as a U.S. manufacturer, is increasingly being recognized as a important GMDSS provider.''
The order not only includes hardware but also substantial on site GMDSS training and service support. It is a significant order for Datamarine in establishing the Company as a substantial GMDSS provider.
Datamarine markets its instrumentation and electronic charting products under the Datamarine label while its extensive line of marine communications products are sold under the SEA brand. The Company has more than 400 dealers in the United States as well as distribution agreements in 30 countries throughout the world.
this is from the 10q filed for 2nd qtr:
Losses incurred by the Company in recent years are primarily attributable
to maintaining land mobile engineering, manufacturing and marketing
capabilities despite significantly reduced revenues in this product line.
We believe that additional sales of land mobile products will result from
the March 1999 issuance of Phase II licenses by the FCC, and the Company's
introduction of new land mobile products. The Company's order backlog for
land mobile products increased from $2,151,000 at January 1, 2000 to
$2,883,000 at April 1, 2000. In the event that land mobile revenues do not
meet expectations, management has a plan for significantly reducing land
mobile related operating expenses. The Company may also elect to raise
capital by selling 220 MHz licenses and repeater equipment owned by its
subsidiary, Narrowband Network Systems, Inc. The first sale of such
equipment occurred in December 1999. During the current quarter the
Company entered into agreements to sell additional equipment and licenses
for an aggregate selling price of $475,000.
now, given the above, i feel we are worth XXX more than the closing price today of .50. remember, there are only 1.7m outstanding shares here. company has been in business for a long time. as somebody who is currently long the stock i feel we have to be worth more than $3.4m....my opinion only.
gpg |
