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StockSource.us: Penny Stock & OTCBB News for Aug 10 - WLOL, VMCI, AXST, COWI
Aug 10, 2010 (M2 PRESSWIRE via COMTEX) --
Stocksource.us brings you all the Stocks in the News: Winland Online Shipping Holdings Corporation (OTCBB: WLOL), iMedicor (OTCBB: VMCI), Axesstel (OTCBB:AXST), CoroWare Inc. (OTCBB: COWI)
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Winland Online Shipping Holdings Corporation (OTCBB: WLOL)
HONG KONG -- 08/10/10 -- Winland Online Shipping Holdings Corporation (OTCBB: WLOL), a global shipping Company which also owns and operates China's largest shipping website portal "Shipping Online" (www.sol.com.cn), reported today a continued recovery in sales of the Company's shipping services due to further improvement in the global shipping market and improved utilization of the Company's increased shipping capacity. This produced a sharp increase in revenues and a turnaround in net income for its second quarter ended June 31, 2010 compared with the same period last year.
The Company reported revenues in the second quarter of 2010 rose 78.4% to $21,295,692, compared to $11,936,089 in the same period the prior year. Net income rose to $2,977,530 compared to a net loss of ($1,079,423) in the second quarter of 2009.
For the first six months of the current year, revenues grew 44% to $35,984,254 from $24,870,034 in the same period a year ago. Net income for the first half of 2010 increased strongly to $4,621,810 from a net loss of ($4,156,280) in the first half of 2009.
The Company attributed the improvement in revenues to a pickup in the overall global shipping industry, as reflected in the 29% rise in the Baltic Dry Index in the second quarter of 2010. The Company also benefited from an improvement in bulk shipping activity and an increase in its shipping capacity from the acquisition of a vessel in September, 2009 and the utilization of a new chartering vessel in May, 2010.
In Contract On Two New Vessels
On May 20, 2010, Winland subsidiaries Fon Tai and Won Lee each entered into novation agreements where each subsidiary assumed all of the rights and obligations of Rich Forth Investments Limited ship building contracts with JiangSu for the construction of two 57,000dwt bulk carrier vessels. Fon Tai and Won Lee agreed to contract prices of $29,950,000 for each new ship, with one ship expected to be delivered by December 15, 2010 to Fon Tai and the other expected to be delivered by March 15, 2011 to Won Lee. Additional details on these transactions are available in the Company's 10-Q being filed today.
Committed To Growth
"We are extremely pleased with the results that Winland was able to produce during the second quarter of 2010," stated Mr. Xue Ying, CEO. "Our increased capacity helped us to benefit from the improvement in the overall global economy and the shipping industry. We also believe the opportunity is right at this point in the business cycle to continue to add to our fleet." He added, "Our acquisition in May of two vessels currently under construction reflects our commitment to take advantage of opportunities we see to grow the Company. While remaining focused on expense monitoring, we will continue to look for ways to expand and improve our business through the timely acquisitions of vessels, while continuing to also further develop our position as a leader in the industry with our 'Shipping Online' portal."
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iMedicor (OTCBB: VMCI)
NANUET, NY -- 08/10/10 -- iMedicor (OTCBB: VMCI) and USA MCO today announced a new Strategic Alliance creating one of the first nationwide HIPAA compliant National Healthcare Communications Networks (NHCN). USA MCO, one of the nation's largest Managed Care Organizations, will launch a joint awareness campaign with iMedicor to let physicians within its network know that they now have simple access to a national Healthcare Information Exchange (HIE) that will allow physicians to satisfy "meaningful use" regulations. The focus will be the enrollment of USA MCO's 350,000 plus physicians, medical practices and other healthcare providers into the iMedicor HIPAA compliant Health Information Exchange and social community portal. USA MCO represents nearly half of the practicing physicians in the United States.
The alliance provides a major step forward in the Federal government's healthcare initiative focused on a transition to mass adoption of health information technology and the mobilization of personal health information. The USA MCO / iMedicor NHCN will provide full interoperability for secure transport and exchange of medical files, records, images and patient-specific information in the form of secure messaging and standardized data exchange. The NHCN addresses several of the key requirements of "Meaningful Use" regulations involving information exchange. In addition, the network will adhere to the evolving National Health Information Network ("NHIN") Direct protocols and utilize the NHIN Connect interoperability tools. The entire service offering is focused on ease of operation, efficiency of clinical workflow, qualifying for stimulus funding to offset the cost of transitioning from paper to digital medical records systems and provides better healthcare through modern communications.
The network will provide the following:
* A National Health Information Exchange
* Simplified HIPAA compliant secure messaging to facilitate communication between physicians, staff and patients.
* Discreet data exchange through standards recognized by the ONCHIT standards committee.
* Build and create community, patient-specific peer collaboration and expansion of referral networks,
* Access to educational resources, certified CME, skill level and product / device specific resources.
Unlimited use of the NHCN will only be $19.95 per month per physician. Other Healthcare providers and medical practice staff members connected to the originating physician's subscription will be charged a discounted rate relative to the originating physician's subscription.
"This is an exceptional opportunity and value to the healthcare community," said George Bogle, Chairman and CEO of USA MCO, "With incentives being planned and developed for participating physicians through the Medicaid / Medicare system that reduces expense through electronic administration and claim support, and the ability of our new network to reduce cost and increase the quality of healthcare in our country, every area of the healthcare community will benefit. We believe that over the next six months a majority of our 350,000 physicians and their practices will engage with the National Health Communications Network."
"After working closely with USA MCO over the past several months, we are very proud that the iMedicor network has been selected by them to create the nation's first HIPAA compliant Healthcare Communication Network," said Fred Zolla, CEO of iMedicor, "This is a major step forward in creating an interoperable, National Health Information Exchange that will support the transition from paper to electronic medical records. Healthcare in our country is State of the Art, yet this sector still uses old and ineffective communications technology, which is the principal barrier to implementing widespread use of electronic medical records. The National Healthcare Communication Network created with this alliance is a major step forward in solving this problem. iMedicor is ready to implement this project as well as several other large scale projects already underway."
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Axesstel (OTCBB:AXST)
SAN DIEGO, Aug. 10, 2010 -- Axesstel (OTCBB:AXST), a leading provider of fixed wireless voice and broadband data products, reported results for its second quarter and six months ended June 30, 2010.
Axesstel reported revenues for the second quarter of 2010 of $11.2 million. Net loss for the period was $1.4 million, or $0.06 loss per share.
Clark Hickock, CEO of Axesstel, stated, "As expected the second quarter has been a transitional quarter. We continued to execute on our four key initiatives to drive sales in our core markets, increase margins and improve our performance in the second half of 2010. They remain as follows:
* To commercially launch our re-engineered, lower cost lines of phones and modems;
* To expand sales of broadband modems for tier 1, 2 and 3 carriers in North America;
* To expand sales of 3G data and VoIP gateways in Europe; and
* To realize approximately $4 million of annualized operating expense savings in 2010, representing a reduction of over 20% compared to 2009."
"During the second quarter, we made significant progress on our strategy. We are completing the transition to our re-engineered phone and data product lines, and we have begun to deliver samples to our customers for homologation and testing. We expect to begin delivery of larger volume orders in the second half of 2010. In addition, we achieved an important milestone in North America with the initial shipment of our Verizon Network Ready Wi-Fi broadband gateways for sales to authorized retailers. Our relationship with the Verizon Wireless community extends our reach to well-established new markets for our high performance, feature-rich gateway product. We are gaining traction in the U.S. market and reported record revenue from North America in the quarter. Also, working closely with a Tier 1 European carrier, we completed development of our customized 3G data and VoIP Gateway and received the first purchase orders for more than 19,000 devices, which are scheduled for delivery beginning in the third quarter. Finally, we have reduced operating expenses by $2.3 million to date, compared to the first six months of 2009, positioning us to achieve $4 million of annualized operating expense savings in 2010," added Hickock.
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CoroWare Inc. (OTCBB: COWI)
REDMOND, WA -- 08/10/10 -- CoroWare Technologies, a subsidiary of CoroWare, Inc. (OTCBB: COWI), today announced it has entered into a syndicated reseller agreement with Hawaii-based Spae International Communications, a leading global provider of personal telepresence and quality communication services. Beginning in July, Spae International Communications began reselling CoroWare's HD video conferencing subscription service to its portfolio of video conferencing solutions.
Spae International Communications offers state of the art high definition video conferencing rooms equipped with the latest in scalable video technology. By entering into this agreement with CoroWare, Spae International Communications can now offer a scalable HD videoconferencing subscription service that includes desktop and room-based video conferencing, and can connect with traditional video conferencing room systems such as Polycom, Cisco-Tandberg and Lifesize Communications.
"Our partnership with CoroWare helped us rapidly expand our range of video conferencing services," said Sidney Higa, President of Spae International Communications.
"CoroWare's HD video conferencing subscription managed service is based on Vidyo's multipoint videoconferencing solution, and includes billing reports that allow syndicated resellers to deliver customized billing for their end-customers." By teaming up with SPAE International Communications, CoroWare can further grow its videoconferencing business in Hawaii and the Asia-Pacific region.
"We're excited to launch our syndicated reseller program with SPAE International Communications," said Joshua Sherman, Business Unit Manager for Telepresence at CoroWare. "Spae International Communications' experience in videoconferencing and longtime relationships with government and higher education customers will help grow both companies' businesses."
According to recent research studies by Frost & Sullivan, videoconferencing end-point revenues worldwide are expected to achieve a compound annual growth rate (CAGR) of 16.5 per cent through 2015, while the videoconferencing infrastructure market worldwide is expected to grow at a CAGR of 18.2 per cent through 2015.
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