|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.
Continuous testing helps bridge the gap between developing quickly and maintaining high quality products. But to implement continuous testing, CTOs must take a strategic approach to building a testing infrastructure and toolset that empowers their team to move fast. Download our guide to laying the groundwork for a scalable continuous testing strategy.
Jul. 23, 2016 05:00 AM EDT Reads: 1,770
As companies gain momentum, the need to maintain high quality products can outstrip their development team’s bandwidth for QA. Building out a large QA team (whether in-house or outsourced) can slow down development and significantly increases costs. This eBook takes QA profiles from 5 companies who successfully scaled up production without building a large QA team and includes: What to consider when choosing CI/CD tools How culture and communication can make or break implementation
Jul. 23, 2016 05:00 AM EDT Reads: 1,468
SYS-CON Events has announced today that Roger Strukhoff has been named conference chair of Cloud Expo and @ThingsExpo 2016 Silicon Valley. The 19th Cloud Expo and 6th @ThingsExpo will take place on November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. "The Internet of Things brings trillions of dollars of opportunity to developers and enterprise IT, no matter how you measure it," stated Roger Strukhoff. "More importantly, it leverages the power of devices and the Interne...
Jul. 23, 2016 04:30 AM EDT Reads: 1,898
"We formed Formation several years ago to really address the need for bring complete modernization and software-defined storage to the more classic private cloud marketplace," stated Mark Lewis, Chairman and CEO of Formation Data Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jul. 23, 2016 04:30 AM EDT Reads: 1,375
Machine Learning helps make complex systems more efficient. By applying advanced Machine Learning techniques such as Cognitive Fingerprinting, wind project operators can utilize these tools to learn from collected data, detect regular patterns, and optimize their own operations. In his session at 18th Cloud Expo, Stuart Gillen, Director of Business Development at SparkCognition, discussed how research has demonstrated the value of Machine Learning in delivering next generation analytics to imp...
Jul. 23, 2016 04:00 AM EDT Reads: 2,327
Organizations planning enterprise data center consolidation and modernization projects are faced with a challenging, costly reality. Requirements to deploy modern, cloud-native applications simultaneously with traditional client/server applications are almost impossible to achieve with hardware-centric enterprise infrastructure. Compute and network infrastructure are fast moving down a software-defined path, but storage has been a laggard. Until now.
Jul. 23, 2016 03:45 AM EDT Reads: 1,569
Most organizations prioritize data security only after their data has already been compromised. Proactive prevention is important, but how can you accomplish that on a small budget? Learn how the cloud, combined with a defense and in-depth approach, creates efficiencies by transferring and assigning risk. Security requires a multi-defense approach, and an in-house team may only be able to cherry pick from the essential components. In his session at 19th Cloud Expo, Vlad Friedman, CEO/Founder o...
Jul. 23, 2016 03:45 AM EDT Reads: 1,728
"We host and fully manage cloud data services, whether we store, the data, move the data, or run analytics on the data," stated Kamal Shannak, Senior Development Manager, Cloud Data Services, IBM, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jul. 23, 2016 03:30 AM EDT Reads: 1,055
With over 720 million Internet users and 40–50% CAGR, the Chinese Cloud Computing market has been booming. When talking about cloud computing, what are the Chinese users of cloud thinking about? What is the most powerful force that can push them to make the buying decision? How to tap into them? In his session at 18th Cloud Expo, Yu Hao, CEO and co-founder of SpeedyCloud, answered these questions and discussed the results of SpeedyCloud’s survey.
Jul. 23, 2016 02:45 AM EDT Reads: 694
In addition to all the benefits, IoT is also bringing new kind of customer experience challenges - cars that unlock themselves, thermostats turning houses into saunas and baby video monitors broadcasting over the internet. This list can only increase because while IoT services should be intuitive and simple to use, the delivery ecosystem is a myriad of potential problems as IoT explodes complexity. So finding a performance issue is like finding the proverbial needle in the haystack.
Jul. 23, 2016 02:45 AM EDT Reads: 2,022
With the proliferation of both SQL and NoSQL databases, organizations can now target specific fit-for-purpose database tools for their different application needs regarding scalability, ease of use, ACID support, etc. Platform as a Service offerings make this even easier now, enabling developers to roll out their own database infrastructure in minutes with minimal management overhead. However, this same amount of flexibility also comes with the challenges of picking the right tool, on the right ...
Jul. 23, 2016 02:30 AM EDT Reads: 728
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, demonstrated how to move beyond today's coding paradigm and shared the must-have mindsets for removing complexity from the develo...
Jul. 23, 2016 01:15 AM EDT Reads: 1,003
SYS-CON Events announced today that MangoApps 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. MangoApps provides modern company intranets and team collaboration software, allowing workers to stay connected and productive from anywhere in the world and from any device.
Jul. 23, 2016 01:00 AM EDT Reads: 1,141
The IETF draft standard for M2M certificates is a security solution specifically designed for the demanding needs of IoT/M2M applications. In his session at @ThingsExpo, Brian Romansky, VP of Strategic Technology at TrustPoint Innovation, explained how M2M certificates can efficiently enable confidentiality, integrity, and authenticity on highly constrained devices.
Jul. 23, 2016 12:45 AM EDT Reads: 711
Redis is not only the fastest database, but it is the most popular among the new wave of databases running in containers. Redis speeds up just about every data interaction between your users or operational systems. In his session at 19th Cloud Expo, Dave Nielsen, Developer Advocate, Redis Labs, will share the functions and data structures used to solve everyday use cases that are driving Redis' popularity.
Jul. 23, 2016 12:30 AM EDT Reads: 1,409