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 Omnicity Corp. (OMCY.OB) Signs Comprehensive Satellite Internet Delivery Agreement
Yesterday after the closing bell, Omnicity Corp. announced that it has signed an agreement with StarBand Communications Inc., a leading international satellite internet service provider. Through StarBand, the company will offer satellite high speed internet service in markets throughout the United States. Omnicity will rebrand this service as Omnicity Satellite Internet Services, intending to offer it to households that may not be able to receive Omnicity’s wireless internet or DSL services.
Planning to immediately launch this rebranded satellite service in all its markets, Omnicity will have a high speed internet solution for virtually every household in its markets. Omnicity Satellite Internet Services will be a value oriented service available for residential, small office/home office (SOHO) and small businesses. The addition of satellite high speed Internet enables the company to cover more areas, consequently increasing subscription revenues.
“We have people who call in on a daily basis that we can’t reach yet with our wireless and DSL coverage areas. With our new satellite capabilities, we can cover just about everybody,” stated Greg Jarman, CEO of Omnicity. Omnicity currently covers more than 20,000 square miles with its wireless coverage and can provide 38 states with DSL services. Our satellite service will more than triple the Omnicity coverage of marketable homes and Omnicity will add its satellite coverage capabilities in its application during the second round of the American Recovery and Reinvestment Act of 2009 to bring the Internet to all of rural America.”
Mr. Jarman added, “By having some method to deliver high speed internet service to virtually every home in our service areas, either wireless, DSL, and now Omnicity Satellite Internet Services, we truly can strive for exceptionally high market penetrations and an outstanding branded Omnicity presence. This translates to higher revenue and cash flow per home passed through existing Omnicity assets and, of course, into great long-term value for our shareholders. We are very excited to have consummated this satellite delivery deal and to begin marketing Omnicity Satellite Internet Services alongside our wireless and DSL options.”
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Omnicity Corp. (OMCY.OB) Aggressively Seeking to Power Rural Areas with Broadband
Omnicity Corp. is an Indiana-based, wireless broadband service provider taking steps to initiate and execute its business mission to become the leading provider of rural telecommunications for communities, businesses and residences throughout the United States.
The company’s services include cost-effective high-speed Internet access, advanced communications solutions through a variety of package options. Omnicity also offers computer repair services such as anti-virus program installation, data backup, virus removal and repairs, new computer setup, home personal computer repair and more.
The company envisions bridging the “digital divide” by offering broadband access to underserved areas to promote job growth, economic development and civic participation. To execute this strategy, the company seeks expansion through acquisition and organic growth, as well as through established partnerships with rural electric municipal cooperatives and rural telephone companies.
Omnicity currently serves businesses and consumers in more than 30 counties in Indiana. To ensure quality service and customer satisfaction, the company’s technology requires it to conduct free survey sites to determine acceptable signal levels in its coverage areas.
The company relies on its seasoned management team with years of combined wireless broadband/SP expertise to guide it through expansion efforts. This team also has experience in the consolidation of a large numbers of businesses through the company’s roll-up strategy, boosting expansion and partnership opportunities.
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Omnicity Corp. (OMCY.OB) Brings the Web to Rural America
Omnicity Corp. hopes to do with the Internet what was done with electricity in the 1930s. Specifically, they hope to bring all of the benefits and capabilities of the Web to rural areas not currently served with broadband access. The goal is to build a nationwide wireless network that is able to deliver high-speed Internet access to rural subscribers in a more cost-effective way than traditional cable or fiber optic models.
Currently, only 38% of rural households have broadband connections, versus 57% of urban homes and 60% of suburban homes. Most homes in rural areas cannot receive cable television or broadband. Even DSL rarely extends beyond the city limits. And traditional dial-up service is simply to slow to run many of the Web’s newest programs.
All of this greatly limits the ability of this segment of the population to participate in what is rapidly becoming the most important communication revolution in modern history. Of perhaps greatest concern is the inability of many rural communities to realize the economic benefits made available by the Web. Small business, like all business, is increasingly dependent upon the Internet to reach their market. Opportunities for web-based businesses in rural communities are significant, but are almost totally dependent upon broadband access.
Just as the electrification of rural America in the 20s and 30s transformed living standards, broadband could open up a world of economic and personal benefits for large areas of the country. But, as with electrification, the costs of providing service to a relatively small and diverse population has been a problem. It simply costs too much to lay a cable just to serve a few households.
But Omnicity plans to change all that using advanced wireless network technology. Wireless technology greatly reduces costs, making service possible to areas previously out of reach. The company’s strategy is to provide a total broadband solution, including voice, video, and data, in unserved and underserved markets, growing through acquisitions and partnerships with Rural Electric Municipal Cooperatives and Rural Telephone Companies.
With over 40 million rural and small homes and businesses having inadequate Internet service, the potential for growth is clear. Over the next 5 years, Omnicity projects a customer base of 170,000 subscribers, and revenues of nearly $87 million.
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Omnicity Corp. (OMCY.OB) Signs LOI for Acquisition
Omnicity Corp announced that it’s continuing to move forward with its plan to become the premier consolidator in the WISP industry by signing a Letter of Intent with the wireless division of Solutions Unlimited, Inc. (”SUI”) of New Castle, Indiana. Doing business as “Midwest WISP”, SUI is only one of the next several acquisitions Omnicity plans to announce during the current quarter.
Greg Jarman, CEO of Omnicity, stated, “We are pleased to have worked out a great deal for both Midwest WISP and Omnicity and look forward to bringing their subscribers and infrastructure into the fold. This acquisition adds another important set of assets and an ongoing local marketing presence to our eastern border.”
Over the past six months, Omnicity has more than doubled its subscriber base and revenue, and anticipates doubling its intake again by the end of the year.
Michael Dinkins, President of SUI commented, “The timing is perfect for us to turn over our fixed wireless assets to Omnicity and we have full confidence in their ability to deliver on their business model. We believe in their plan so much that we have chosen to move our assets into an equity investment in Omnicity.”
SUI began operations in 1994 selling computers, network services, dial-up Internet and, in 2003, added high speed fixed wireless services. SUI will continue to sell Omnicity services from their storefront location in New Castle, Indiana as the first step in the Omnicity reseller channel. SUI maintains network services for small and medium businesses in Central Indiana and will market Omnicity services to its clients.
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Omnicity Corp. (OMCY.OB) Set To Triple Coverage
Omnicity Corp., known for bringing broadband communication service to underserved rural areas, has signed an agreement that will more than triple its coverage of marketable homes. The agreement is with leading international satellite Internet service provider StarBand Communications Inc., and allows Omnicity to offer StarBand satellite high speed Internet service coverage to areas throughout the U.S. not currently able to receive Omnicity’s wireless Internet or DSL services.
The new service will be rebranded as Omnicity Satellite Internet Services, and means Omnicity will have a high speed Internet solution for virtually every household in its markets. The service will be available for residential, small office/home office, and small business customers, and secures Omnicity’s position as the key player in the rural broadband service industry.
Omnicity CEO, Greg Jarman, commented on the importance of the agreement. “We have people who call in on a daily basis that we can’t reach yet with our wireless and DSL coverage areas. With our new satellite capabilities, we can cover just about everybody. By having some method to deliver high speed internet service to virtually every home in our service areas, either wireless, DSL, and now Omnicity Satellite Internet Services, we truly can strive for exceptionally high market penetrations and an outstanding branded Omnicity presence. This translates to higher revenue and cash flow per home passed through existing Omnicity assets and, of course, into great long-term value for our shareholders. We are very excited to have consummated this satellite delivery deal and to begin marketing Omnicity Satellite Internet Services alongside our wireless and DSL options.”
Omnicity plans to add the new satellite coverage during the second round of the American Recover and Reinvestment Act of 2009 to bring the Internet to all of rural America. The company’s strategy is to continue its rapid growth through acquisitions and organic growth, and to continue to partner with Rural Electric Membership Co-ops and Rural Telephone Companies.
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Omnicity Corp. (OMCY.OB) Announces Approval for Electronic Trading
Omnicity Corp. announced this morning that upon filing its 10K Annual Report, the company’s stock has been approved for electronic trading over GlobeNet’s Bullet-X transparent electronic trading platform utilizing Pink Link, the leading trade negotiation and execution service for the OTC market. Transforming the OTC trading process, Pink Link is now used by hundreds of market makers and agency brokers.
Pink Link brings order and execution report message delivery across Pink OTC Markets’ OTC Dealer service or via a FIX 4.1 connection. The execution service will also allow market makers and agency brokers to send market makers order messages to communicate with each other instantly. Pink Link electronically executes, negotiates or declines the orders through an execution report message that is sent back through the service.
Greg Jarman, CEO of Omnicity, stated, “We’re very pleased to have graduated from the telephonic system to Pink Link’s electronic trading. Many brokers who want to execute trades for their clients were somewhat discouraged with the telephonic trading system of the OTC because of low execution response times and a low fill rate. Now these brokers can execute trades electronically which should increase our market liquidity for our shareholders.”
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Omnicity Corp. (OMCY.OB) Reports Substantial Increase in Subscribers; Record Revenue
Omnicity Corp, the Midwest’s largest fixed Wireless Internet Service Provider (WISP), yesterday announced after the closing bell its financial results for the fourth quarter 2009.
The company highlighted the following impressive results:
– Q4 09 revenues increased 89% to $611,000 compared to Q4 08 revenues of $322,000
– Q4 09 revenues increased 44% compared to Q3 09 revenue of $425,000 (Q3 09 – 46% increase over Q2 09)
– Successfully expanded its subscriber base to 5,200 subscribers
– The Company expects revenues in excess of $650,000 for Q1 2010
Revenues for the year ended July 31, 2009 increased 63% to $1,689,000, while revenue for the fourth quarter alone increased by $288,000 to $611,000, an increase of 89%. This significant growth reflects an increase in recurring service revenue from the company’s four asset acquisitions; ND Wave, ForePoint Networks, North Central Communications and Cue Connex. As a result of these acquisitions, the number of subscribers increased from 1,800 to 5,200.
Greg Jarman, CEO of Omnicity, stated, “We are very pleased with our financial results and growth during the fourth quarter. Our goal is to maintain double digit growth each and every quarter during fiscal 2010. This certainly paves the way for our growth strategy and we expect to be operationally cash flow positive by the end of January 31, 2010 (Q2 2010). We have 7 acquisitions in various stages of closure including the recently announced Midwest WISP Letter of Intent. We expect to close on each of these acquisitions by the end of Q2 2010.”
Jarman continued, “The financial impact of these acquisitions should be that Omnicity will be cash flow positive, which is a major milestone and well ahead of our original projections when we went public 8 months ago. We expect these acquisitions, along with stepped up organic growth, will positively impact our Company’s valuation in the public market. Notably, we are also in contention to win a $16.2 million bid to build fiber optic services for rural hospitals across the State of Indiana, being an applicant for $31 million in such projects overall.”
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OMCY let's break .50!
It appears as though OMCY had a pretty stellar month of October 2009!
Solid news on a real company would lead me to believe that OMCY could really make a nice run..
Check out the Record Revenue for Q4 09'!
Omnicity Announces Record Revenue and Significant Subscriber Increase for Q4 09
Press Release
Source: Omnicity Corp
On 4:15 pm EDT, Tuesday October 27, 2009
Buzz up! 0
Print
Companies: Omnicity, Corp.
RUSHVILLE, Ind., Oct. 27, 2009 (GLOBE NEWSWIRE) -- Omnicity Corp. (OTCBB:OMCY - News), the Midwest's largest fixed Wireless Internet Service Provider (WISP), today announced its financial results for the fourth quarter 2009.
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Symbol Price Change
OMCY.OB 0.49 +0.07
Highlights include:
-- Q4 09 revenues increased 89% to $611,000 compared to Q4 08
revenues of $322,000
-- Q4 09 revenues increased 44% compared to Q3 09 revenue of
$425,000 (Q3 09 -- 46% increase over Q2 09)
-- Successfully expanded its subscriber base to 5,200 subscribers
-- The Company expects revenues in excess of $650,000 for Q1 2010
2009 Fourth Quarter Results:
Omnicity's revenues for the year ended July 31, 2009 increased by $655,000 to $1,689,000 (2008 -- $1,034,000), an increase of 63%. More importantly, revenue for Q4 2009 increased by $288,000 to $611,000 (Q3 2008 -- $322,000), an increase of 89%. Additionally, Q4 2009 revenues increased by $186,000 to $611,000 (Q3 2009 -- $425,000), an increase of 44%. This is after a 46% increase Q3 2009 compared to Q2 2009. These significant increases reflect an increase in recurring service revenue from our four asset acquisitions; ND Wave, ForePoint Networks, North Central Communications and Cue Connex. The number of subscribers increased from 1,800 to 5,200 by virtue of these acquisitions. The Company mainly receives revenue from monthly service and modem rental fees collected from its subscribers. The Company also receives web hosting fees, installation fees, fiber construction projects fees and late fees.
Greg Jarman, CEO of Omnicity, stated, "We are very pleased with our financial results and growth during the fourth quarter. Our goal is to maintain double digit growth each and every quarter during fiscal 2010. This certainly paves the way for our growth strategy and we expect to be operationally cash flow positive by the end of January 31, 2010 (Q2 2010). We have 7 acquisitions in various stages of closure including the recently announced Midwest WISP Letter of Intent. We expect to close on each of these acquisitions by the end of Q2 2010. The financial impact of these acquisitions should be that Omnicity will be cash flow positive, which is a major milestone and well ahead of our original projections when we went public 8 months ago. We expect these acquisitions, along with stepped up organic growth, will positively impact our Company's valuation in the public market. Notably, we are also in contention to win a $16.2 million bid to build fiber optic services for rural hospitals across the State of Indiana, being an applicant for $31 million in such projects overall."
About Omnicity:
Our vision is to be the first broadband service provider to expand its network across rural America.
Omnicity Corp. is a public company based in Indiana providing broadband access, including advanced services of voice, video and data, in un-served and underserved small and rural markets and is planning to be the premier consolidator of rural market broadband nationwide. Omnicity's strategy is to provide a total broadband solution and continue rapid growth through acquisitions, organic growth and continue to partner with Rural Electric Membership Co-ops and Rural Telephone Companies. Omnicity has an experienced broadband operations team with extensive wireless broadband/ISP expertise as well as the expertise to consolidate large numbers of businesses through its roll-up strategy.
Forward-looking statements, made pursuant to safe harbor provisions of the PSLR Act of 1995, inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. By making these forward-looking statements, the Company undertakes no obligation to update these statements for changes after the date of this release.
Contact:
Omnicity Corp.
Investor Relations
1-877-888-0459
ir@omnicitycorp.com
Omnicity, Corp - Our Shareholder Information
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Omnicity Corp. (OMCY.OB) Issues Corporate Update to Investor Community
Omnicity Corp., the Midwest’s largest and fastest growing fixed Wireless Internet Service Provider, yesterday updated the investment community with a formal corporate update summarizing the milestones achieved and the status of Omnicity’s aggressive fiscal 2010 growth plan through acquisitions and organic growth.
David Bradford, Chief Operating Officer of Omnicity, stated, “In the first 8 months, since completing our public listing, we proved our acquisition model works very well. We have completed five acquisitions and integrated them into Omnicity operations very smoothly. All these acquisitions were highly accretive, coming over with high operating margins, and some of them yielded high quality employees as well.”
Mr. Bradford continued, “We have a number of additional acquisitions in various stages of closure, with more to follow, and expect to close and integrate them with the same fine results. These acquisitions alone, combined with an aggressive set of sales and marketing campaigns, should put us well in excess of 11,000 subscribers and annualized running rate revenue of well over $5 million by the end of the next fiscal year.”
Omnicity’s plan of operations through its 2010 fiscal year includes:
* completing further debt and equity offerings of $5,000,000 and building
current ratio of 1.5:1 by December 31, 2009;
* completing several acquisitions to double subscribers to over
11,000 and doubling revenue to $1,300,000 per quarter;
* developing and expanding, through organic growth, the subscriber base
through its sales and marketing program;
* acquiring and transitioning into its operations assets of competing WISP
operators and expanding its network into all of Midwest USA;
* reaching operationally cash flow positive and building a liquidity floor
under operations of $100,000 minimum by December 31, 2009;
* continuing to partner with Rural Electric Membership Cooperatives
“REMCs”, local and State governments, Rural Telcos and Original
Equipment Manufacturers “OEMs” to efficiently and cost effectively
expand our network across rural America;
* developing and expanding service offerings to become a total
broadband solution; and
* completing a further staged equity offering of $10,000,000 by
July 31, 2010 followed by an application to list on a senior stock
exchange.
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Omnicity Corp. (OMCY.OB) Continues Rapid Expansion
Omnicity Corp., the Midwest’s biggest fixed Wireless Internet Service Provider (WISP), recently bolstered its position as a WISP consolidator by signing a Letter of Intent with the wireless division of Solutions Unlimited (SUI), of New Castle, Indiana. SUI (doing business as Midwest WISP) is seen as just one of several acquisitions Omnicity is expected to announce during Q4 of 2009 as it makes its way towards becoming the premier consolidator of the WISP industry.
Omnicity CEO, Greg Jarman, commented on the value of the move. “We are pleased to have worked out a great deal for both Midwest WISP and Omnicity and look forward to bringing their subscribers and infrastructure into the fold. This acquisition adds another important set of assets and an ongoing local marketing presence to our eastern border.”
SUI president, Michael Dinkins, added: “The timing is perfect for us to turn over our fixed wireless assets to Omnicity and we have full confidence in their ability to deliver on their business model. We believe in their plan so much that we have chosen to move our assets into an equity investment in Omnicity.”
SUI will continue to sell Omnicity services from their storefront location in New Castle, as the first element in the Omnicity planned reseller channel. SUI maintains network services for small and medium businesses in Central Indiana and will market Omnicity services to its clients.
In just the past 6 months, Omnicity has more than doubled its subscriber base and revenue. The company further expects to double again by the end of the year. Omnicity plans to be the first broadband service to expand its network across rural America, providing services to areas currently underserved. The company partners with Rural Electric Membership Co-ops and Rural Telephone Companies, and recently signed an agreement with leading international satellite Internet service provider StarBand Communications Inc., allowing Omnicity to offer StarBand satellite high speed Internet service coverage to areas throughout the U.S. not currently able to receive Omnicity’s wireless Internet or DSL services.
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