Sphere 3D to Begin Trading on NASDAQ Global Market
By GlobeNewswire, June 30, 2014, 01:20:00 PM EDT
MISSISSAUGA, Ontario, June 30, 2014 (GLOBE NEWSWIRE) -- Sphere 3D Corporation (TSX-V:ANY) (OTCQX:SPIHF) (the "Company" or "Sphere 3D"), a virtualization technology solution provider, today announced that it has received confirmation that its application to list the Company's common stock on The NASDAQ Global Market has been approved by The NASDAQ Stock Market, a unit of the NASDAQ OMX Group.
The Company expects its shares to commence trading on or about July 8th, 2014 under the symbol "ANY". Upon commencement of trading on NASDAQ, the Company's common stock will cease to trade on the OTCQX but will continue to trade on the TSXV.
why we are up over 10% today. I haven't been able to find any news at all.
Wouldn't be surprised if some more nice contracts are announced very soon.
Sorry, but that huge jump at the end of the day had nothing to do with a short squeeze or Mitek's prospects and everything to do with the rebalancing of the Russell Indexs', and more specifically to what they call the Naxdaq Closing Cross. You can google that to find out how it works.
I am not an expert in exactly how it works, but it seems to result in the institutions being able to buy stocks being added to the Russell at substantially lower prices than what they were selling for at the end of the day and to sell stocks being dropped by Russell for higher prices than what they were selling for.
Of course this is just a temporary situation and within a short time all of these stocks will go back to whatever price the market thinks they are worth.
I had expected the NASDAQ up-listing to be announced this week especially since the CEO was asked about it and said it should be in about 7 to 10 days and that was a week and a half ago. It doesn't look like it is going to happen this week, so I really don't know.
However, it definitely is going to happen and when it does it will open the shares up to a huge market of potential buyers as it will be marginable and many funds will be able to buy in. Could begin a very large upward run.
Other than the earnings report there has been no news from SuperCom for over 2 months. Generally the share price of small cap stocks with low volume tend to deteriorate when there is a lack of news. Yet since that last news item on April 14th, the price has gone from $7.60 to where it is today. That shows the strength of the current shareholder base and the interest the company has created among new investors.
Only a matter of time before this explodes.
If anything this decision strengthens Mitek's patent portfolio and makes it more difficult for patent trolls.
Thanks bubba. I keep my eye on it.
Need to see a big move by banks to adopt Mobile Photo Bill Pay or Account Opening before I am willing to take the plunge. RMD by itself, because of the way that they charge for it, just doesn't seem to be able to generate enough revenue to warrant a share price that is substantially higher than around $4. Not much downside now but need a higher reward potential.
Last week when asked about a stock recommendation I suggested looking at Sphere3d. I consider this a potential life changing wealth builder.
I new article just came out today in the Midas Letter. It can be found by googling Midas Letter Sphere3d.
Here's the conclusion:
There is little doubt that much of the velocity in Sphere 3D’s share price is driven by technology speculators who perceive the opportunity inherent in the timing of companies, managment and products converging within the Sphere 3D universe. My bet is that the combination of these elements under Sphere 3D’s managment will result in an exponential compounding of shareholder value quarter-on-quarter once the intergrations are complete and Overland Storage’s sales force is unleashed on its client base with the new offerings.
The stock has been in a holding/declining pattern while awaiting NASDAQ uplisting. This has created a nice buying opportunity. In the audio interview today, SPIHF CEO was asked when to expect the up-list. He said in the next 7 to 10 days.
The only things that are coming are:
1. Big new contracts.
2. Huge profits.
3. Double in share price.
Watch & learn.
The title and body of your message is so UNFACTUAL as to be laughable. I could go into a long explanation of exactly how much money I have made on this stock, and how much in opportunity you have lost by selling 75% of your shares around $8.25, but I won't.
All I want to know from you is why you find it so difficult to admit that you LIED about SPCB's public offerings and why you won't apologize for the misinformation you posted.
" I will never reply to you again until you grow up ."
When GROWN UPS post FALSE information on a message board and it is pointed out to them, they admit it and apologize. Immature people and shorts do not.
By the way did you know from that $25M contract they recently got, that there will be another $5M to $7.5M in recurring revenue over the next several years. Pretty cool huh?
Arie Trabelsi - President and CEO
"Yes, just to clarify, out of the 25 million there’s 20%-30% of that which will be recurrent and continue to recur annually for the next years, and that beyond the fact of actually deploying more systems which can be of larger size and have both recurrent and non-recurrent elements to them."
Why should lorisk remember his posts when you seem to want to forget about your lying ones.
There is a big difference between being WRONG about where the share price may be at a certain time and posting ABSOLUTE FALSEHOODS in order to try to affect the price.
Still waiting for you to admit your LIE and apologize for it.
"Expect secondary to pay OTIV additional revenue
"You got it buddy ! I laid this out BEFORE it happen and it isn't over yet and all I got for it was a few nasty comments. Good Luck to you !"
Hey superbowl6 looks like you found a buddy who LIES as much as you. Tell us again how you claimed that SPCB had done TWO secondaries within 6 months of each other. That was the basis of your claim that they were going to do another secondary now. Trouble was SPCB had only done one secondary and that was for the SmartID aquistion.
Still waiting for you to apologize for your LIE.
j_rick41 lies again.
SPCB was $9.05 when earnings were announced. Right now it is $9.14.
This guy obviously never passed a math class. Also absolutely no need for a secondary to pay OTIV. Additional payment is only do based upon performance over the next 3 years and if the performance is met there is no need to raise additional funds.
Terrific buying opportunity right now for the next run-up. Announcement of any significant contracts (which could come at any time) could result in another 20% to 50% or more increase in share price.
The CEO says:
" We believe our recent momentum has started to demonstrate the potential of our fast and growing pipeline of EID bids in many countries around the world. We have seen in the past that one these bids turned into contracts that it lead to continued and ongoing revenue as well as further orders from the same customer. They’re deploying new bids almost every month and are continuing to actively pursue a rich and extensive pipeline of bids, proposals and leads, and we expect to receive new orders in 2014 more of them. I’ll note that all these contracts are in the multimillion dollar per year range, so even the win of one contract will have significant impact on our results.
In summary, the merger with OTI Smart ID division is going great, pushing SuperCom even further as a strong successful and growing business with significant potential, much of which is still yet to be unleashed. We are well on the road to becoming a key player in our target EID and M2M markets where we can leverage our rich and broad range of technologies and solutions. We have a vast breadth of EID capabilities globally, outstanding market and technology experts, and strong customer relationships, and looks forward to continuing our performance throughout 2014 and beyond."
Arie Trabelsi, CEO of SuperCom commented , “We are very excited to have closed this highly synergistic and accretive acquisition. We have invested significant time and effort into ensuring the assimilation process will be as smooth as possible, hence from today we are already running at full steam. Our new customers will continue to receive full, uninterrupted and the exceptionally high level of service that we are accustomed to providing at SuperCom.”
Post-acquisition, SuperCom demonstrates:
Combined pro-forma revenues for the full year 2012 of $26.2 million, with an EPS* of $0.88; and for the first six months of 2013, EPS was $0.45;
A rich and extensive pipeline of over 50 bids, proposals and opportunities in over 25 countries, with a total potential revenue of over $500 million to be implemented over the next 5 years;
An applicable and addressable market of 2 billion per year.
Continued Mr. Trabelsi, “Our new SmartID division strongly boosts our contract base and pipeline. It also vastly expands the breadth of our EID capabilities globally and significantly increases our potential for revenue growth, while removing a tough competitor. This acquisition is a significant leap ahead for us in our long-term strategic plan of becoming a leading solution provider to the global Electronic ID market.
“Our applicable e-ID market continues to grow at an annual rate of 70%, and this acquisition will enable SuperCom to offer complete and enhanced solutions that will meet the growing demand among governments globally for field-proven, robust, secure electronic identification capabilities which in turn will grow the entire e-Government arena. With the SmartID division, we are adding a new suite of leading e-ID and e-Government capabilities, as well as experience in addressing National Multi-ID needs. The combination of SuperCom and SmartID solutions and products, poise SuperCom to lead the National e-ID and e-Government market.”
"What evidence do you have that the "certain earn=outs and business milestones" mentioned have been reached?"
He has no evidence because the additional payment is based upon what happens over the next 3 years and note that it is only "potential" payments:
"OTI has received a $10 million payment for the sale of its SmartID division, with potential further payments of $12.5 million over the next three years, the company said in a statement."
"Who is the moron now?"
Sorry, it is still you who is the moron. You claimed SuperCom owed OTI $10M. THEY DO NOT. They paid them the $10M that was owed to make the deal.
The additional part of the deal is NOT OWED NOW. It is based on milestones.
Remember (moron) this is what you said in your original stupid message:
"I don't believe they have the funds to pay OTIV. This is will a major lawsuit."
Please explain to us how there will be a major lawsuit over funds to pay OTIV when the funds that will become due will only be due based upon performance, and if the performance is met then SPCB WILL have the funds.
Please take your idiocy to some message board where the people are dumb enough to believe your LIES.
Wow! This moron created this j_rick41 identity TODAY just to post this LIE.
SuperCom paid OTIV $10M back in December.
The desperation of the dumb ones who shorted SPCB is truly amazing.
"glad you "called it before it happened"...lol"
Pretty pathetic when it seems this guys main goal is to finally get something right about this stock so that he can come back and say: I TOLD YOU SO.