Kennt einer noch Diversinet (dvntf.ob - http://www.dvnet.com/ )? War mal ein echter Highflyer und ist richtig unter die Räder gekommen. In den letzten Wochen tut sich aber wieder einiges - sieht recht vielversprechend aus
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Diversinet - Buy
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Diversinet Corp. Announces Continued Revenue Growth And Third Quarter Fiscal 2003 Results
Thursday September 11, 9:40 am ET
Operating cash loss narrows by 38%
Revenue up 800% for first nine months
TORONTO--(BUSINESS WIRE)--Sept. 11, 2003--Diversinet Corp. (OTCBB: DVNTF - News), a leading provider of secured mobile solutions, today announced its third quarter fiscal 2003 results.
Revenues for the third quarter of fiscal 2003 were $2,515,000, up from $221,000 in the third quarter of fiscal 2002. For the nine months ended July 31, 2003, the Company reported revenue of $6,383,000, compared to revenue of $706,000 for the nine months ended July 31, 2002. The higher revenue was primarily due to the inclusion of DSS Software Technologies, which was acquired on January 3, 2003.
The net loss for the quarter ended July 31, 2003, was $1,065,000, or $(0.18) per share, compared to a net loss for the same quarter in fiscal 2002 of $1,575,000, or $(0.49) per share. The net loss reported for the nine months ended July 31, 2003, was $4,263,000, or $(1.04) per share compared to a net loss of $5,364,000, or $(1.86) in the same period in fiscal 2002. The improved reduction in net loss is due in part to the Company's continued efforts to reduce costs.
During the quarter the Company completed a US$3.1 million private placement. Cash used in operating activities was $1,017,000 in the three months ended July 31, 2003, down 38% from the amount used in the same period of the prior year. With the financing completed and the continued efforts to manage costs, the Company is well positioned to achieve profitability and positive cash flow in the future.
Subsequent to quarter-end, the Company completed its acquisition of Caradas, Inc. for a combination of common shares and share purchase warrants exercisable over five years. Caradas, founded in 2001, has annual revenues of approximately US$4 million and is currently profitable. Caradas brings a digital identity and transaction management product suite, the Connexus platform, along with a highly successful security consulting services team to the combined company. The addition of Caradas will allow Diversinet to expand and provide an even stronger combination of technology platforms, mobile security solutions, and professional services to its tier one customers. It also accelerates Diversinet's push into the financial services and U.S. government sectors, by enhancing Diversinet's existing technology solutions, and strengthening its development team.
During the third quarter, the Company appointed Derek Buntain to its Board of Directors. He is the President of The Dundee Bank and holds seats on a number of boards. Mr. Buntain brings a wealth of experience in corporate finance, mergers and acquisitions and international business.
Diversinet launched Passport SMS Messenger(TM) solution which connects Internet-enabled applications and mobile phones using SMS technology, and announced an agreement with Arcot Systems Inc. to develop and co-market systems for mobile authentication of online credit card transactions. By integrating Arcot's TransFort(TM) e-payments authentication product suite, Passport SMS Messenger further extends the TransFort platform by adding support for SMS wireless access. The combined solution provides bank card issuers with a new mobile device channel for delivering Verified by Visa® and MasterCard® SecureCode® online credit card transactions.
Diversinet's advanced wireless security solutions provide technologies electronically that verify and authenticate each party involved in a mobile transaction. During the quarter, Diversinet licensed its mobile security software to the Edvance Limited for use in a secure Fleet and Workforce Management System in Hong Kong with location-based technology. Additionally, Edvance Limited will become an authorized reseller of Diversinet's mobile security solution in the Asia Pacific region.
Diversinet's systems integration subsidiary, DSS Software, entered into new product and project development agreements in the third quarter with Men's Warehouse, a North American retailer of men's clothing; Williams-Sonoma, a nationwide retailer of products for the home; Cisco, a worldwide leader in networking for the Internet; Merador LLC, a provider of business intelligence software solutions; SNAPFISH, a leading online photo service; and Digital Globalsoft, a Hewlett-Packard company that is focused on software development and IT services.
Thursday September 11, 9:40 am ET
Operating cash loss narrows by 38%
Revenue up 800% for first nine months
TORONTO--(BUSINESS WIRE)--Sept. 11, 2003--Diversinet Corp. (OTCBB: DVNTF - News), a leading provider of secured mobile solutions, today announced its third quarter fiscal 2003 results.
Revenues for the third quarter of fiscal 2003 were $2,515,000, up from $221,000 in the third quarter of fiscal 2002. For the nine months ended July 31, 2003, the Company reported revenue of $6,383,000, compared to revenue of $706,000 for the nine months ended July 31, 2002. The higher revenue was primarily due to the inclusion of DSS Software Technologies, which was acquired on January 3, 2003.
The net loss for the quarter ended July 31, 2003, was $1,065,000, or $(0.18) per share, compared to a net loss for the same quarter in fiscal 2002 of $1,575,000, or $(0.49) per share. The net loss reported for the nine months ended July 31, 2003, was $4,263,000, or $(1.04) per share compared to a net loss of $5,364,000, or $(1.86) in the same period in fiscal 2002. The improved reduction in net loss is due in part to the Company's continued efforts to reduce costs.
During the quarter the Company completed a US$3.1 million private placement. Cash used in operating activities was $1,017,000 in the three months ended July 31, 2003, down 38% from the amount used in the same period of the prior year. With the financing completed and the continued efforts to manage costs, the Company is well positioned to achieve profitability and positive cash flow in the future.
Subsequent to quarter-end, the Company completed its acquisition of Caradas, Inc. for a combination of common shares and share purchase warrants exercisable over five years. Caradas, founded in 2001, has annual revenues of approximately US$4 million and is currently profitable. Caradas brings a digital identity and transaction management product suite, the Connexus platform, along with a highly successful security consulting services team to the combined company. The addition of Caradas will allow Diversinet to expand and provide an even stronger combination of technology platforms, mobile security solutions, and professional services to its tier one customers. It also accelerates Diversinet's push into the financial services and U.S. government sectors, by enhancing Diversinet's existing technology solutions, and strengthening its development team.
During the third quarter, the Company appointed Derek Buntain to its Board of Directors. He is the President of The Dundee Bank and holds seats on a number of boards. Mr. Buntain brings a wealth of experience in corporate finance, mergers and acquisitions and international business.
Diversinet launched Passport SMS Messenger(TM) solution which connects Internet-enabled applications and mobile phones using SMS technology, and announced an agreement with Arcot Systems Inc. to develop and co-market systems for mobile authentication of online credit card transactions. By integrating Arcot's TransFort(TM) e-payments authentication product suite, Passport SMS Messenger further extends the TransFort platform by adding support for SMS wireless access. The combined solution provides bank card issuers with a new mobile device channel for delivering Verified by Visa® and MasterCard® SecureCode® online credit card transactions.
Diversinet's advanced wireless security solutions provide technologies electronically that verify and authenticate each party involved in a mobile transaction. During the quarter, Diversinet licensed its mobile security software to the Edvance Limited for use in a secure Fleet and Workforce Management System in Hong Kong with location-based technology. Additionally, Edvance Limited will become an authorized reseller of Diversinet's mobile security solution in the Asia Pacific region.
Diversinet's systems integration subsidiary, DSS Software, entered into new product and project development agreements in the third quarter with Men's Warehouse, a North American retailer of men's clothing; Williams-Sonoma, a nationwide retailer of products for the home; Cisco, a worldwide leader in networking for the Internet; Merador LLC, a provider of business intelligence software solutions; SNAPFISH, a leading online photo service; and Digital Globalsoft, a Hewlett-Packard company that is focused on software development and IT services.
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