|By Marketwired .||
|May 2, 2014 08:00 AM EDT||
SEATTLE, WASHINGTON -- (Marketwired) -- 05/02/14 -- MicroPlanet Technology Corp. ("MicroPlanet" or the "Corporation") (TSX VENTURE: MP)(PINKSHEETS: MCTYF), a provider of smart grid and power quality technology and products that significantly increase efficiency, quality and conservation of electricity and enables the integration of up to 95%+ penetration of alternative energy into electrical grids' low voltage networks today reports consolidated financial results for the year ended December 31, 2013. All dollar figures are reported in U.S. currency, unless otherwise stated.
The Company's milestones for the year include:
-- Manufactured and shipped products totaling $380,245 in net sales for the Year, mostly to utilities in Australia in response to purchase orders, an increase of $302,283 as compared to 2012. -- Validated a new design, and commenced marketing activities for a regulating transformer, to be built, sold and serviced in conjunction with Tyree Industries in Australia. -- Initiated the seeding of significant multiple growth opportunities. -- Shipped twelve regulators to a utility in Australia for a test that could result in an initiative to utilize MicroPlanet regulators as part of the permanent grid design. -- Recruitment of a new Chief Executive Officer and Chief Financial Officer. -- Entered into an agreement with a former executive in a large utility in Australia. He will oversee all aspects of the Company's business in Australia, focusing especially on sales efforts into utilities. -- Added a very experienced and successful technology businessman and Fortune 500 board member to the Company's board of directors. -- Initiated concerted efforts to establish strategic relationships to both provide additional capital and to synergistically accelerate the deployment of MicroPlanet products. -- Provided voltage regulation equipment and services to the successful Solar Decathlon 2013, held in Irvine California by the National Renewable Energy Lab of the U.S. Department of Energy. -- Completed three equity and one convertible debt private offerings in year, with gross proceeds totaling $1,575,017 and $374,000, respectively. -- Completed an equity private offering in 2014 with gross proceeds of $913,828 (CDN$1,007,966).
2013 Financial Highlights
---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Year ended December 31, -------------------------------- -------------------------------- 2013 2012 -------------------------------- Sales $ 380,245 $ 77,962 Gross margin $ 175,227 $ 29,450 Gross margin percentage 46% 38% Operating loss $ (2,032,166) $ (2,189,474) Comprehensive loss $ (937,443) $ (2,478,951) Basic loss per share $ (0.007) $ (0.023) Weighted average shares outstanding 141,085,240 109,991,441 ---------------------------------------------------------------------------- ----------------------------------------------------------------------------
Outlook - The Company plans to focus maximum resources to achieve success with Australian utilities, providing the groundwork for success in many countries with similar needs and power characteristics. The significant penetration of photovoltaic and other distributed electric generation sources in many countries throughout the world are expected to have the effect of accelerating the Company's penetration into other geographical regions and market segments, such as commercial establishments. This market-by-market approach, whereby the Company collects key performance data and gains enthusiastic and prominent customers, is expected to expand the Company's sales in the years ahead. The Company has historically maintained a firm discipline of limiting its expenditures to only those that contribute to generating new sales orders, including developing new and refining existing products, and it anticipates to substantially continue to do so during 2014. In order to do so, the Company will need to raise additional capital to fund operations through 2014 and 2015 in order to achieve positive operating cash. In the past, the Company has primarily raised its operating capital through debt or equity private placements. The Company intends to devote resources to expanding its discussions with potential strategic partners that also provide additional working capital to the Company.
This discussion includes various forward-looking statements regarding the Company and its future activities and financial results. These statements are based on certain assumptions that are considered reasonable by management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties and actual results could differ materially from those indicated by such forward-looking statements. Forward-looking information in this document is identified by words such as "anticipate", "believe", "focus", "intend", "expect", "plan", "forecast", "target", "projected", "could", "may", "will", "develop" or similar expressions and includes suggestions of future outcomes including statements of the Company's growth strategy and related schedules, planned capital expenditures, expected future sales, timelines for future regulatory, partner or internal approvals and access to capital.
The factors or assumptions on which the forward-looking information is based include: projected capital investment, the ability of the Company to obtain necessary regulatory and partner approvals and the ability to access capital through future equity, debt offerings or otherwise.
About MicroPlanet Technology Corp.
MicroPlanet Technology Corp. is a smart grid, energy conservation company, whose technology dynamically and steplessly regulates voltage with unrivaled speed and accuracy using its patented and advanced power electronics. MicroPlanet's technology solutions have been deployed in seven countries by more than 20 utilities, the U.S military and multiple commercial customers to manage voltage on networks, save energy, improve power quality and grid efficiency and to facilitate the integration of renewable energy sources, including solar and wind. MicroPlanet is based in Seattle, WA and is listed on the TSXV and trades on the OTC under the stock symbol: MP and MCTYF, respectively. www.microplanet.com
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THE TERM DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
In an era of historic innovation fueled by unprecedented access to data and technology, the low cost and risk of entering new markets has leveled the playing field for business. Today, any ambitious innovator can easily introduce a new application or product that can reinvent business models and transform the client experience. In their Day 2 Keynote at 19th Cloud Expo, Mercer Rowe, IBM Vice President of Strategic Alliances, and Raejeanne Skillern, Intel Vice President of Data Center Group and ...
Oct. 24, 2016 11:45 AM EDT Reads: 1,505
SYS-CON Events announced today that Niagara Networks will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Niagara Networks offers the highest port-density systems, and the most complete Next-Generation Network Visibility systems including Network Packet Brokers, Bypass Switches, and Network TAPs.
Oct. 24, 2016 11:45 AM EDT Reads: 1,302
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
Oct. 24, 2016 10:45 AM EDT Reads: 3,850
Traditional on-premises data centers have long been the domain of modern data platforms like Apache Hadoop, meaning companies who build their business on public cloud were challenged to run Big Data processing and analytics at scale. But recent advancements in Hadoop performance, security, and most importantly cloud-native integrations, are giving organizations the ability to truly gain value from all their data. In his session at 19th Cloud Expo, David Tishgart, Director of Product Marketing ...
Oct. 24, 2016 10:30 AM EDT Reads: 2,531
SYS-CON Events announced today that StarNet Communications will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. StarNet Communications’ FastX is the industry first cloud-based remote X Windows emulator. Using standard Web browsers (FireFox, Chrome, Safari, etc.) users from around the world gain highly secure access to applications and data hosted on Linux-based servers in a central data center. ...
Oct. 24, 2016 10:30 AM EDT Reads: 2,087
SYS-CON Events announced today that Cemware will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Use MATLAB functions by just visiting website mathfreeon.com. MATLAB compatible, freely usable, online platform services. As of October 2016, 80,000 users from 180 countries are enjoying our platform service.
Oct. 24, 2016 10:30 AM EDT Reads: 823
Virgil consists of an open-source encryption library, which implements Cryptographic Message Syntax (CMS) and Elliptic Curve Integrated Encryption Scheme (ECIES) (including RSA schema), a Key Management API, and a cloud-based Key Management Service (Virgil Keys). The Virgil Keys Service consists of a public key service and a private key escrow service.
Oct. 24, 2016 10:15 AM EDT Reads: 1,058
SYS-CON Events announced today that eCube Systems, the leading provider of modern development tools and best practices for Continuous Integration on OpenVMS, will exhibit at SYS-CON's @DevOpsSummit at Cloud Expo New York, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. eCube Systems offers a family of middleware products and development tools that maximize return on technology investment by leveraging existing technical equity to meet evolving business needs. ...
Oct. 24, 2016 10:00 AM EDT Reads: 4,491
Effectively SMBs and government programs must address compounded regulatory compliance requirements. The most recent are Controlled Unclassified Information and the EU’s GDPR have Board Level implications. Managing sensitive data protection will likely result in acquisition criteria, demonstration requests and new requirements. Developers, as part of the pre-planning process and the associated supply chain, could benefit from updating their code libraries and design by incorporating changes.
Oct. 24, 2016 09:45 AM EDT Reads: 1,685
The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering Cloud Expo and @ThingsExpo will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at Cloud Expo. Product announcements during our show provide your company with the most reach through our targeted audiences.
Oct. 24, 2016 09:15 AM EDT Reads: 4,669
Fact is, enterprises have significant legacy voice infrastructure that’s costly to replace with pure IP solutions. How can we bring this analog infrastructure into our shiny new cloud applications? There are proven methods to bind both legacy voice applications and traditional PSTN audio into cloud-based applications and services at a carrier scale. Some of the most successful implementations leverage WebRTC, WebSockets, SIP and other open source technologies. In his session at @ThingsExpo, Da...
Oct. 24, 2016 09:00 AM EDT Reads: 2,310
SYS-CON Events announced today that Isomorphic Software will exhibit at DevOps Summit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Isomorphic Software provides the SmartClient HTML5/AJAX platform, the most advanced technology for building rich, cutting-edge enterprise web applications for desktop and mobile. SmartClient combines the productivity and performance of traditional desktop software with the simp...
Oct. 24, 2016 09:00 AM EDT Reads: 3,478
Fifty billion connected devices and still no winning protocols standards. HTTP, WebSockets, MQTT, and CoAP seem to be leading in the IoT protocol race at the moment but many more protocols are getting introduced on a regular basis. Each protocol has its pros and cons depending on the nature of the communications. Does there really need to be only one protocol to rule them all? Of course not. In his session at @ThingsExpo, Chris Matthieu, co-founder and CTO of Octoblu, walk you through how Oct...
Oct. 24, 2016 08:15 AM EDT Reads: 3,146
SYS-CON Events announced today that Embotics, the cloud automation company, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Embotics is the cloud automation company for IT organizations and service providers that need to improve provisioning or enable self-service capabilities. With a relentless focus on delivering a premier user experience and unmatched customer support, Embotics is the fas...
Oct. 24, 2016 08:00 AM EDT Reads: 854
The Internet of Things (IoT), in all its myriad manifestations, has great potential. Much of that potential comes from the evolving data management and analytic (DMA) technologies and processes that allow us to gain insight from all of the IoT data that can be generated and gathered. This potential may never be met as those data sets are tied to specific industry verticals and single markets, with no clear way to use IoT data and sensor analytics to fulfill the hype being given the IoT today.
Oct. 24, 2016 07:30 AM EDT Reads: 2,564