Hi Wolf - and thanks for that summary. Much appreciated, as my download data speed runs at approximately
20-30 bytes per second. Add unfathomable disconnections and so on - and so, downloading video/audio is a just a pipe dream.
Due to the current influenza at DMX.stockprice - I am stunned into inactivity as far as buying SMY. But, hey, I'm stilll a believer ( great title for a pop tune, eh?). Q302 Earnings News follows. Cliff seems to be doing a good job conserving cash and still doing needed R&D and forging important alliances. As you implied, all we need are a few solid contracts. Keep the faith. Fox.
SAMSys Technologies Inc. Reports Financial Results for the First 9 Months of Fiscal 2002
TORONTO, ON - August 29, 2002 - SAMSys Technologies Inc., ("SAMSys"), (SMY:TSX-VEN),
www.samsys.com, of Toronto, a provider of Radio Frequency Identification (RFID) reader
hardware, today reports on the Company's financial results for the 9-month period ended June
30, 2002.
Financial Highlights:
* SAMSys recorded revenues of $1,337,456 in the first nine-months of fiscal 2002, compared
to revenues of $2,341,363 for the same period in fiscal 2001.
* In the first 9-months of fiscal 2002, SAMSys recorded a net loss of $4,099,998 or $0.18 loss
per share compared to a net loss of $2,067,907 or $0.11 loss per share for the same period in
fiscal 2001. The net loss for the 9-month period in fiscal 2002 includes a non-cash charge of
$1,487,883 for the amortization of production development costs and $1,404,221 in research
and development expenses.
* SAMSys' cash balance as of June 30, 2002 was $8,192,579.
Consolidated Financial Statement -Unaudited
9-Months Ended June 30, 2002
Revenues
$1,337,456
Gross Profit
465,550
Net income (loss)
(4,099,998)
Earnings (loss) per share
(0.18)
Weighted average number of outstanding shares
22,428,713
9-Months Ended June 30, 2001
Revenues
$2,341,363
Gross profit
759,265
Net income (loss)
(2,067,907)
Earnings (loss) per share
(0.11)
Weighted average number of outstanding shares
18,578,842
"SAMSys' long term strategy is to provide the most comprehensive range of RFID reader
products, ancillary services, and integration tools to the market. This past quarter's results
reflect the transition we continue to make from a Research and Development focused
company, to one with a more traditional business model. We continue to invest in completing
our product offerings in order to showcase our technology as we ramp up for a very
aggressive sales and marketing program that we will initiate in both North America and
Europe," said Cliff Horwitz SAMSys Chairman & CEO. |
