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APT Systems Inc. Announcing Reorganization

SAN FRANCISCO, CA, Feb. 28, 2019 (NewMediaWire) -- APT Systems, Inc. (OTC PINK - APTY), a publicly traded, fully reporting fintech company, announced it is reorganizing its authorized share structure and the CEO will be returning to the treasury from personal holdings, 47 Million common shares.The Company filed its preliminary Schedule Form 14C filing as part of the next steps to complete an increase in authorized shares to help attract and secure direct investment from accredited investors for its newest subsidiary, AUREX Trading and Recovery Inc.While embracing its newest revenue opportunity of acquiring e-scrap for precious metal recovery, management of APT Systems also reaffirms its commitment to building financial platforms and further shaping the founder’s vision of delivering modern tools to modern traders.  We appreciate and value the ongoing support of our shareholders.About APT Systems Inc.:  APT Systems Inc. is a financial technology company that is developing platforms, including trader access to proprietary charting tools, via the KenCharts application, and plans to launch its innovative trading application, Intuitrader. Verifundr is an escrow and payments platform and Tyrtrade is an interchange for minting and delivering Spera, a stable coin. Management also strategically reviews other compatible financial businesses which demonstrate strong growth potential. We are continuing our diligent search for software products and partners that would enhance our operations. Management launched its subsidiaries SNAPT Games, Inc. and RCPS Management, Inc. to further facilitate new products, acquisitions and long-term goals. AUREX Trading and Recovery is leveraging industry-leading recycling technology to provide liquidity and pricing transparency to the precious metals recovery industry.Disclaimer - Forward Looking Statements: This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements; projected events in this press release may not occur due to unforeseen circumstances, various factors, and other risks identified in a company's annual report on Form 10-K and other filings made by such company. APT Systems, Inc (APTY) may opt to also disseminate information about itself, including the results of its operations and financial information, via social media platforms such as Facebook, LinkedIn, and Twitter.On Twitter follow @APTYsysGlenda Dowie, CEO at 415-200-1105Email:  info@aptsystemsinc.comLinks to Investor Information:   http://AUREXtrading.comhttps://Sperastablecoin.comhttp://www.aptsystemsinc.com/online-investor-kit-for-apt-systems-inc-apty/

Zoom Telephonics Reports Sales of $7.5 Million for Q4 2018 and $32.3 Million for Year 2018

Company to Host Conference Call on Thursday, February 28, 2019 at 4:30 p.m. ETBOSTON, Feb. 28, 2019 (NewMediaWire) -- Zoom Telephonics, Inc. (“Zoom” or “the Company”) (OTCQB: ZMTP), a leading producer of cable modems and other communication products, today reported financial results for its 2018 fourth quarter and year ended December 31, 2018.Financial Highlights (Q4 and full year 2018 comparisons to prior year’s period)Q4 net sales decreased 15.8% to $7.5 million with 2018 net sales increasing 9.9% to $32.3 million.Q4 gross margin decreased to 31.6% from 36.6% with 2018 gross margin increasing to 36.0% from 34.8%.Tariffs in Q4 2018 reduced gross margins, and contributed to a decline in revenue as the Company raised some prices in an attempt to mitigate the tariffs’ negative impact on gross margins.Q4 net loss was approximately $826 thousand, or $0.05 per share, compared to a net loss of $387 thousand, or $0.03 per share, for Q4 2017. 2018 net loss was $74 thousand, or $0.00 per share, compared to a net loss of $1.37 million, or $0.09 per share, for 2017.2018 Fourth Quarter Financial ReviewNet sales for Q4 2018 decreased to $7.5 million from $8.9 million for Q4 2017.  This was primarily due to reduced shelf space at one major retailer and price competition exacerbated by the Company’s attempt to increase some product prices in response to 10% China tariffs which began on September 24, 2018.  The Company reacted more quickly than its competitors to the tariffs, which reduced revenues for the period.  Cable modem sales declined, but the Company did experience increases in its sales of local area network and DSL products.Gross profit for Q4 2018 was $2.4 million, or 31.6% of net sales, down from $3.2 million, or 36.6% of net sales for the fourth quarter of 2017.  The decrease in gross profit and gross margin was primarily due to a 10% tariff on the cost of goods for almost all its products other than ones imported into the US prior to September 24, 2018.Operating expenses for Q4 2018 were $3.1 million or 41.8% of net sales, versus $3.6 million or 40.5% of net sales for Q4 2017. Selling expenses increased approximately $58 thousand to $1.96 million for the fourth quarter of 2018, as increased Motorola trademark royalty costs and marketing funds were offset by reductions in advertising and freight costs. General and administrative expenses decreased approximately $522 thousand to $589 thousand for the fourth quarter of 2018, primarily because sales tax expenses dropped $831 thousand due to a significant one-time charge for Q4 2017. This improvement was offset by increased salary and stock option costs, and increases in legal and outside service expenses for the current quarter.  Research and development expenses were $573 thousand for Q4 2018, down slightly from $577 thousand in the same period of 2017, as increased personnel costs were offset by reductions in certification expenses.Zoom reported a net loss of $826 thousand or $0.05 per share for the fourth quarter of 2018, compared to net loss of $387 thousand or $0.03 per share in the same period of 2017. 2018 Financial ReviewNet sales for year 2018 increased 9.9% to $32.3 million from $29.4 million for 2017.  Sales through all but one of Zoom’s major retailers increased, but reduced sales at one retailer reduced total cable modem sales growth to just 3%.  Sales of all other products combined rose over 180% primarily due to rising sales in routers, MoCA adapters, and DSL products.Gross profit in 2018 was $11.6 million or 36.0% of net sales, up from $10.2 million or 34.8% of net sales for year 2017.  The increase in gross profit and gross margin was primarily due to higher net sales and a higher mix of e-tailer sales, offset somewhat by tariff-related gross margin reductions in Q4 2018.Operating expenses in 2018 were $11.6 million or 35.9% of net sales, versus $11.5 million or 38.9% of net sales in 2017. Selling expenses increased approximately $927 thousand to $8.2 million for the year, as increased Motorola trademark royalty, advertising, and personnel costs were ...

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Showing 2401 – 2410 of 5369 Items