|By Business Wire||
|May 12, 2014 09:07 AM EDT||
Wynnefield Capital, Inc. today congratulated Telos Corp. (OTCBB:TLSRP) on a recent contract award and renewed its calls for Telos to settle at the earliest possible time the principal and arrearages owed to the holders of its 12% Cumulative Exchangeable Redeemable Preferred Stock (“TLSRP”), including all payment-in-kind (“PIK”) dividend payments declared by the Telos Board of Directors for the period 1992 through June 1995. Wynnefield is a 20-year holder of approximately 12% percent of Telos’ TLSRP. If redeemed in full, the holders of the TLSRPs would receive a cash payment significantly in excess of two times the current trading price of the security.
“Wynnefield congratulates Telos on being one of the small businesses recently awarded a contract by the NETCENTS-2 Program Office, which provides the U.S. Air Force with a primary source of netcentric and IT products, services, and solutions. While the contract is of the indefinite delivery/indefinite quantity variety, it carries a tasty $5.8 billion program award ceiling,” said Nelson Obus, President of Wynnefield Capital. “Wynnefield additionally notes that Telos was one of the recipients of a contract for the 2004 original NETCENTS Program,” continued Mr. Obus. “Wynnefield now has renewed confidence that Telos will resolve the over 20-year liability due its holders of the TLSRPs by paying them out what they are owed -- a net amount that totals 100 cents on the dollar,” Mr. Obus added.
Wynnefield noted with concern that the Telos Management Development and Compensation Committee approved a total of $925,000 in short-term incentive bonuses to the Telos CEO and four other executives for fiscal 2013, despite the fact that 2013 EBITDA came in at only 38% of the target, thus falling well short of the requisite 60% EBITDA target to trigger a proportional payout under the relevant management incentive bonus plan. The $400,000 bonus paid to the CEO was in addition to his 2013 salary of $600,000 and other compensation. “In the current ‘pay for performance’ corporate management compensation world, Wynnefield believes that the short-term incentive bonuses need to be assessed more critically each and every year. Employees and representatives of Wynnefield serve on, or chair, numerous compensation committees for other issuers and we find the current compensation and governance practices extremely distressing. We are not aware of any case where bonuses were granted in years when management delivered less than 60% of plan,” Mr. Obus continued. “In our opinion, the Telos independent directors -- many who have distinguished military backgrounds -- need to attend a boot camp focusing on current appropriate compensation and governance practices. We believe that such internal largess should stiffen the resolve of the holders of TLSRPs to insist on being repaid all principal and arrearages owed them by Telos, including all Board-declared PIK payments,” Mr. Obus concluded.
ABOUT WYNNEFIELD CAPITAL, INC.
Wynnefield Capital is a 20-year holder of approximately 12% percent of Telos’ TLSRP. Established in 1992, Wynnefield Capital, Inc. is a value investor specializing in U.S. small cap situations that have company- or industry-specific catalysts.
SYS-CON Events announced today that SoftNet Solutions 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. SoftNet Solutions specializes in Enterprise Solutions for Hadoop and Big Data. It offers customers the most open, robust, and value-conscious portfolio of solutions, services, and tools for the shortest route to success with Big Data. The unique differentiator is the ability to architect and...
Oct. 21, 2016 08:15 PM EDT Reads: 288
Why do your mobile transformations need to happen today? Mobile is the strategy that enterprise transformation centers on to drive customer engagement. In his general session at @ThingsExpo, Roger Woods, Director, Mobile Product & Strategy – Adobe Marketing Cloud, covered key IoT and mobile trends that are forcing mobile transformation, key components of a solid mobile strategy and explored how brands are effectively driving mobile change throughout the enterprise.
Oct. 21, 2016 07:15 PM EDT Reads: 1,605
In past @ThingsExpo presentations, Joseph di Paolantonio has explored how various Internet of Things (IoT) and data management and analytics (DMA) solution spaces will come together as sensor analytics ecosystems. This year, in his session at @ThingsExpo, Joseph di Paolantonio from DataArchon, will be adding the numerous Transportation areas, from autonomous vehicles to “Uber for containers.” While IoT data in any one area of Transportation will have a huge impact in that area, combining senso...
Oct. 21, 2016 07:15 PM EDT Reads: 216
@ThingsExpo has been named the Top 5 Most Influential Internet of Things Brand by Onalytica in the ‘The Internet of Things Landscape 2015: Top 100 Individuals and Brands.' Onalytica analyzed Twitter conversations around the #IoT debate to uncover the most influential brands and individuals driving the conversation. Onalytica captured data from 56,224 users. The PageRank based methodology they use to extract influencers on a particular topic (tweets mentioning #InternetofThings or #IoT in this ...
Oct. 21, 2016 07:00 PM EDT Reads: 8,083
"Matrix is an ambitious open standard and implementation that's set up to break down the fragmentation problems that exist in IP messaging and VoIP communication," explained John Woolf, Technical Evangelist at Matrix, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Oct. 21, 2016 07:00 PM EDT Reads: 8,921
The IoT has the potential to create a renaissance of manufacturing in the US and elsewhere. In his session at 18th Cloud Expo, Florent Solt, CTO and chief architect of Netvibes, discussed how the expected exponential increase in the amount of data that will be processed, transported, stored, and accessed means there will be a huge demand for smart technologies to deliver it. Florent Solt is the CTO and chief architect of Netvibes. Prior to joining Netvibes in 2007, he co-founded Rift Technologi...
Oct. 21, 2016 06:45 PM EDT Reads: 2,812
What are the new priorities for the connected business? First: businesses need to think differently about the types of connections they will need to make – these span well beyond the traditional app to app into more modern forms of integration including SaaS integrations, mobile integrations, APIs, device integration and Big Data integration. It’s important these are unified together vs. doing them all piecemeal. Second, these types of connections need to be simple to design, adapt and configure...
Oct. 21, 2016 06:45 PM EDT Reads: 1,854
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.
Oct. 21, 2016 06:15 PM EDT Reads: 3,004
Without lifecycle traceability and visibility across the tool chain, stakeholders from Planning-to-Ops have limited insight and answers to who, what, when, why and how across the DevOps lifecycle. This impacts the ability to deliver high quality software at the needed velocity to drive positive business outcomes. In his general session at @DevOpsSummit at 19th Cloud Expo, Eric Robertson, General Manager at CollabNet, will discuss how customers are able to achieve a level of transparency that e...
Oct. 21, 2016 05:15 PM EDT Reads: 597
Kubernetes, Docker and containers are changing the world, and how companies are deploying their software and running their infrastructure. With the shift in how applications are built and deployed, new challenges must be solved. In his session at @DevOpsSummit at19th Cloud Expo, Sebastian Scheele, co-founder of Loodse, will discuss the implications of containerized applications/infrastructures and their impact on the enterprise. In a real world example based on Kubernetes, he will show how to ...
Oct. 21, 2016 05:15 PM EDT Reads: 2,813
@DevOpsSummit has been named the ‘Top DevOps Influencer' by iTrend. iTrend processes millions of conversations, tweets, interactions, news articles, press releases, blog posts - and extract meaning form them and analyzes mobile and desktop software platforms used to communicate, various metadata (such as geo location), and automation tools. In overall placement, @DevOpsSummit ranked as the number one ‘DevOps Influencer' followed by @CloudExpo at third, and @MicroservicesE at 24th.
Oct. 21, 2016 04:30 PM EDT Reads: 3,790
24Notion is full-service global creative digital marketing, technology and lifestyle agency that combines strategic ideas with customized tactical execution. With a broad understand of the art of traditional marketing, new media, communications and social influence, 24Notion uniquely understands how to connect your brand strategy with the right consumer. 24Notion ranked #12 on Corporate Social Responsibility - Book of List.
Oct. 21, 2016 04:15 PM EDT Reads: 1,481
Established in 1998, Calsoft is a leading software product engineering Services Company specializing in Storage, Networking, Virtualization and Cloud business verticals. Calsoft provides End-to-End Product Development, Quality Assurance Sustenance, Solution Engineering and Professional Services expertise to assist customers in achieving their product development and business goals. The company's deep domain knowledge of Storage, Virtualization, Networking and Cloud verticals helps in delivering ...
Oct. 21, 2016 04:15 PM EDT Reads: 916
In his session at @DevOpsSummit at 19th Cloud Expo, Robert Doyle, lead architect at eCube Systems, will examine the issues and need for an agile infrastructure and show the advantages of capturing developer knowledge in an exportable file for migration into production. He will introduce the use of NXTmonitor, a next-generation DevOps tool that captures application environments, dependencies and start/stop procedures in a portable configuration file with an easy-to-use GUI. In addition to captu...
Oct. 21, 2016 04:00 PM EDT Reads: 1,467
Most of us already know that adopting new cloud applications can boost a business’s productivity by enabling organizations to be more agile and ready to change course in our fast-moving and connected digital world. But the rapid adoption of cloud apps and services also brings with it profound security threats, including visibility and control challenges that aren’t present in traditional on-premises environments. At the same time, the cloud – because of its interconnected, flexible and adaptable...
Oct. 21, 2016 04:00 PM EDT Reads: 2,687