HC2 Holdings, Inc. (OTCQB: HCHC) saw its share volume skyrocket on May 13th with 284,949 shares exchanging hands, more than four times its three month daily average volume of 59,721 shares.
This surge in volume comes after HC2 Holdings announced the signing of a definitive agreement with SAS Venture, LLC, a Delaware limited liability company ("SAS") to acquire SAS's 2.5 million shares of common stock of Schuff International, Inc., representing approximately a 60% interest in Schuff. SAS is the largest shareholder of Schuff.
Robert Pons, HC2's Executive Chairman, stated, "We are excited to enter into an agreement to acquire a majority interest in Schuff, the largest steel fabrication and erection company in the United States. We also look forward to working with Schuff's management team and employees and continuing its tradition of building complex steel projects around the world."
HCHC closed at $3.90 on May 13th, 3.45% higher than its previous close of $3.77.
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ImageWare Systems Announces Revenues For First Quarter 2014
ImageWare Systems, Inc. (OTCQB: IWSY) saw its share volume continue to rise on May 13th with 422,585 shares exchanging hands, double its three month daily average of 203,666 shares.
This comes after the company, a leader in mobile and cloud-based, multi-modal biometric identity management solutions, issued its financial results for the first quarter ended March 31, 2014. In addition, ImageWare provided a corporate update to highlight the company’s progress.
Total revenues in the first quarter of 2014 increased to $1.1 million from $0.9 million in the first quarter of 2013, primarily due to higher sales of identification software license revenue.
Gross margin in the first quarter of 2014 increased by 410 basis points to 76.4% compared to 72.3% in the first quarter of 2013. The increase was primarily due to the increased software license revenues.
Net loss in the first quarter of 2014 was $1.7 million or ($0.02) per basic share, compared to a net loss of $2.8 million or ($0.04) per basic share in the first quarter of 2013.
At March 31, 2014, cash and cash equivalents totaled $2.2 million compared to $2.4 million at December 31, 2013. The company continues to carry virtually no debt and its $3.5 million line of credit that remains untapped.
"Our strategy to target large IT service providers and provide security for their cloud customers and applications is gaining traction, as demonstrated by our most recent partnership with IBM," said Jim Miller, chairman and CEO of ImageWare. "IBM marks our third secured agreement with a major cloud partner, and we expect more to come. These large, established partners offer the support, brand name and worldwide cloud platform needed to seamlessly distribute our products. While IBM's BlueMix is in the early stages, we've already received referrals from their customers -- several of which we are in active discussions.
IWSY closed at $2.06 on May 13th, up 14.44% from its previous close of $1.80.
TechnoConcepts, Inc. Sees Share Volume Skyrocket
TechnoConcepts, Inc. (OTCPINK: TCPS) saw its share volume skyrocket on May 13th with 104,567,136 shares exchanging hands, thirteen times higher than its three month daily average volume of 8,014,234 shares.
With no news released this month, one can only speculate why this uptick in volume has occurred. But Last month, TCPS announced it finalized its search for a law firm to represent it regarding its current intellectual property portfolio, and will soon find an effective use for the portfolio for the benefit of the Company's shareholders.
Mr. Suarez, Chairman and CEO of TechnoConcepts, said, "Our Company has retained Smith, Gambrell and Russell, LLP to represent its cadre of intellectual property. We believe that the intellectual property portfolio we carry as an asset of our Company is valuable and is worthy of significant protection. The retention of Smith, Gambrell and Russell will provide us the confidence we need in protecting our IP and making good decisions moving forward regarding our portfolio."
TCPS closed at $.006 on May 13th, 4.76% lower than its previous close of $.0063.
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