Welcome!

News Feed Item

hopTo Inc. Announces Fiscal 2013 Highlights and Results

hopTo Prosumer Adds 350,000 Users in First Four Months

CAMPBELL, Calif., March 31, 2014 /PRNewswire/ -- hopTo Inc. (OTCQB/OTCBB: HPTO), developer of the most comprehensive mobile productivity platform, announced today its financial results for the year ended December 31, 2013. 

hopTo Boosts Mobile Productivity on the iPad.

Recent Highlights

  • Launched hopTo Prosumer version in November 2013
  • hopTo Prosumer has over 350,000 unique users and adding ~3,000 daily
  • Featured in articles on CNET, VentureBeat, Engadget and PC World
  • On September 10, 2013 the company changed its name to hopTo
  • 5 patents applications have been allowed

Results for Year Ended December 31, 2013:

"2013 was a pivotal year for the company as we continued to make progress on our unique mobile productivity platform. In 2013, the company renamed itself hopTo to better represent this new direction and reflect our plans for future innovations and expansions in the Mobile Productivity market," said Eldad Eilam, hopTo's President and Chief Executive Officer.

"Our hopTo product is transitioning from a pre-revenue stage to cash flow positive stage as we launch the new offering for the SMB and Enterprise space, hopTo Work," continued Mr. Eilam. "We recognized $5.9 million in revenues in 2013 from our legacy asset, Go-Global, an application access solution taking advantage of cross-platform remote access and Web-enabled access to users' existing software applications.  As we roll out the hopTo Work new SMB and Enterprise offering, we expect to see growth in our revenues from the hopTo product line in the latter part of 2014."

"We launched the hopTo Prosumer edition in November 2013 to test the market and begin to build our customer base. Our app has over 350,000 new users and, with the positive feedback from Prosumer users, we see a great potential in the SMB and Enterprise space.  As more and more people are finding the need to work and be productive on-the-go, we expect to tap into a $53 billion productivity market through our future offering of hopTo Work. We expect these advancements with our productivity platform and continued focus on the enterprise business will continue to push hopTo Inc. to sustainable, profitable, long-term growth."

hopTo Inc. reported a net loss for the year ended December 31, 2013 of $3.7 million, or $.04 per share and the company's total revenue for 2013 was $5.9 million. Selling, general and administrative expenses were $5.5 million and R&D expenses were $5.0 million. R&D expenses increased by $1.2 million from 2012 as the company is developing new productivity platforms to tap into the mobile productivity business market.

Conference Call

hopTo will host a conference call at 4:30 p.m. EDT on Monday, March 31st, to discuss its year ended December 31, 2013. To participate, please dial (855) 273-1827 and enter the conference call code: 15772743.  The conference call will also be accessible live on the Investor Relations section of the hopTo website at hopto.com/investors.

A replay of the conference call will be available online at hopto.com beginning at 6:30 p.m. EDT on Monday, March 31st and continuing until Monday, June 30, 2014.  A podcast of the conference call will also be available online at hopto.com beginning approximately 24 hours after the call.

About hopTo:
Founded in its current form in 2012, hopTo Inc. is an innovator of a unique mobile productivity workspace application. hopTo delivers a mobile experience that changes the way you work and live — empowering you to fully embrace a mobile lifestyle – without any compromises or boundaries. Search, Access, Aggregate, Create, Edit and Share your content from your mobile device, efficiently and effectively, by leveraging the power of your own "personal cloud." The company is based in Campbell, CA.

For more information on hopTo, please visit: hopTo.com or facebook.com/hopTo.

FORWARD LOOKING STATEMENTS:
This press release contains statements that are forward looking as that term is defined by the United States Private Securities Litigation Reform Act of 1995. These statements include statements regarding future growth and the expected impact of our products on the marketplace. These statements are based on management's current expectations and are subject to a number of uncertainties and risks that could cause actual results to differ significantly from those described in the forward looking statements.  Factors that may cause such a difference include the following: the success of our new products depends on a number of factors including market acceptance and our ability to manage the risks associated with new product introduction and developing and marketing new versions of the product; and other factors, including those set forth under Item 1A, "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2013, and in other documents we have filed with the SEC.

Investors:
Julie Silber
[email protected]
310.766.9760

Media:
Troy Mickle
[email protected]
408.688.2674 x5086

Anne Donohoe
[email protected]
732.620.0033

 


hopTo Inc.





Consolidated Balance Sheets







 As of December 31,

 Assets


2013


2012

 Cash


$2,430,700


$3,960,600

 Accounts receivable, net


811,700


865,900

 Prepaid expense and other current assets


43,100


150,200

 Total current assets


3,285,500


4,976,700

 Property and equipment, net


302,100


358,900

 Capitalized software, net


619,400


223,100

 Other assets


139,900


46,900

 Total assets


$4,346,900


$5,605,600






 Liabilities and stockholders' deficit





 Accounts payable


$244,600


$159,600

 Accrued expenses


37,400


14,200

 Accrued wages


562,100


565,300

 Severance Liability


62,900


209,500

 Deferred rent


31,200


26,700

 Deferred revenue  


2,772,900


2,921,600

 Total current liabilities


3,711,100


3,896,900

 Warrants liability


979,800


7,390,100

 Severance liability


-


52,900

 Deferred revenue


476,200


570,400

 Deferred rent


84,600


127,500

 Total liabilities  


5,251,700


12,037,800

 Preferred stock


-


-

 Common stock


9,800


8,300

 Additional paid-in capital


71,697,300


62,425,400

 Accumulated deficit


(72,611,900)


(68,865,900)

 Stockholders' deficit


(904,800)


(6,432,200)

 Total liabilities and stockholders' deficit


$4,346,900


$5,605,600






 

 Consolidated Statements of Operations and Net Loss












 Year Ended December 31,



2013


2012

 Revenue


$5,889,000


$6,541,300

 Cost of revenue


508,600


601,500

 Gross profit


5,380,400


5,939,800

 Operating expenses





 Selling and marketing


2,441,400


2,403,400

 General and administrative


3,083,200


3,759,000

 Research and development


4,999,900


3,870,900

 Total operating expenses


10,524,500


10,033,300

 Loss from operations


(5,144,100)


(4,093,500)

 Change in fair value of warrant liability


1,406,000


(3,616,600)

 Interest & other income


1,900


5,300

 Interest & other expense


(2,000)


-

 Loss from continuing operations before provision from income taxes


(3,738,200)


(7,704,800)

 Provision for income taxes


7,800


3,500

 Net loss from continuing operations


(3,746,000)


(7,708,300)

 Loss from discontinued operations


-


(468,400)

 Net loss  


$(3,746,000)


$(8,176,700)

 Loss per share





 Continuing operations - basic and diluted


$(0.04)


$(0.09)

 Discontinued operations - basic and diluted


$-


$(0.01)

 Loss per share - basic and diluted


$(0.04)


$(0.10)

 Weighted average shares outstanding - basic and diluted


90,409,625


82,153,360

 

Logo - http://photos.prnewswire.com/prnh/20140219/LA67504LOGO

SOURCE hopTo Inc.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
SYS-CON Events announced today that Catchpoint Systems, Inc., a provider of innovative web and infrastructure monitoring solutions, has been named “Silver Sponsor” of SYS-CON's DevOps Summit at 18th Cloud Expo New York, which will take place June 7-9, 2016, at the Javits Center in New York City, NY. Catchpoint is a leading Digital Performance Analytics company that provides unparalleled insight into customer-critical services to help consistently deliver an amazing customer experience. Designed ...
"We got started as search consultants. On the services side of the business we have help organizations save time and save money when they hit issues that everyone more or less hits when their data grows," noted Otis Gospodnetić, Founder of Sematext, in this SYS-CON.tv interview at @DevOpsSummit, held June 9-11, 2015, at the Javits Center in New York City.
“DevOps is really about the business. The business is under pressure today, competitively in the marketplace to respond to the expectations of the customer. The business is driving IT and the problem is that IT isn't responding fast enough," explained Mark Levy, Senior Product Marketing Manager at Serena Software, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Personalization has long been the holy grail of marketing. Simply stated, communicate the most relevant offer to the right person and you will increase sales. To achieve this, you must understand the individual. Consequently, digital marketers developed many ways to gather and leverage customer information to deliver targeted experiences. In his session at @ThingsExpo, Lou Casal, Founder and Principal Consultant at Practicala, discussed how the Internet of Things (IoT) has accelerated our abilit...
Every successful software product evolves from an idea to an enterprise system. Notably, the same way is passed by the product owner's company. In his session at 20th Cloud Expo, Oleg Lola, CEO of MobiDev, will provide a generalized overview of the evolution of a software product, the product owner, the needs that arise at various stages of this process, and the value brought by a software development partner to the product owner as a response to these needs.
"Plutora provides release and testing environment capabilities to the enterprise," explained Dalibor Siroky, Director and Co-founder of Plutora, in this SYS-CON.tv interview at @DevOpsSummit, held June 9-11, 2015, at the Javits Center in New York City.
"We provide DevOps solutions. We also partner with some key players in the DevOps space and we use the technology that we partner with to engineer custom solutions for different organizations," stated Himanshu Chhetri, CTO of Addteq, in this SYS-CON.tv interview at DevOps at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
For basic one-to-one voice or video calling solutions, WebRTC has proven to be a very powerful technology. Although WebRTC’s core functionality is to provide secure, real-time p2p media streaming, leveraging native platform features and server-side components brings up new communication capabilities for web and native mobile applications, allowing for advanced multi-user use cases such as video broadcasting, conferencing, and media recording.
SYS-CON Events announced today that Enzu will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Enzu’s mission is to be the leading provider of enterprise cloud solutions worldwide. Enzu enables online businesses to use its IT infrastructure to their competitive ad...
@DevOpsSummit at Cloud taking place June 6-8, 2017, at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long developm...
Smart Cities are here to stay, but for their promise to be delivered, the data they produce must not be put in new siloes. In his session at @ThingsExpo, Mathias Herberts, Co-founder and CTO of Cityzen Data, discussed the best practices that will ensure a successful smart city journey.
Enterprise networks are complex. Moreover, they were designed and deployed to meet a specific set of business requirements at a specific point in time. But, the adoption of cloud services, new business applications and intensifying security policies, among other factors, require IT organizations to continuously deploy configuration changes. Therefore, enterprises are looking for better ways to automate the management of their networks while still leveraging existing capabilities, optimizing perf...
The pace of innovation, vendor lock-in, production sustainability, cost-effectiveness, and managing risk… In his session at 18th Cloud Expo, Dan Choquette, Founder of RackN, discussed how CIOs are challenged finding the balance of finding the right tools, technology and operational model that serves the business the best. He also discussed how clouds, open source software and infrastructure solutions have benefits but also drawbacks and how workload and operational portability between vendors an...
Web Real-Time Communication APIs have quickly revolutionized what browsers are capable of. In addition to video and audio streams, we can now bi-directionally send arbitrary data over WebRTC's PeerConnection Data Channels. With the advent of Progressive Web Apps and new hardware APIs such as WebBluetooh and WebUSB, we can finally enable users to stitch together the Internet of Things directly from their browsers while communicating privately and securely in a decentralized way.
Adding public cloud resources to an existing application can be a daunting process. The tools that you currently use to manage the software and hardware outside the cloud aren’t always the best tools to efficiently grow into the cloud. All of the major configuration management tools have cloud orchestration plugins that can be leveraged, but there are also cloud-native tools that can dramatically improve the efficiency of managing your application lifecycle. In his session at 18th Cloud Expo, ...