Teletouch Communications Inc. (TLLE) vault on new contracts
Posted on: July 25th, 2011Written by:
Teletouch Communications Inc. (OTCBB: TLLE) shares galloped ahead 16.7% to 63 cents Monday, on word of two contracts with the state of Texas. Volume for the stock was nearly 7,000 shares, or roughly double its daily average.
A news release July 25 told investors of two multi-year statewide purchasing contracts awarded to Teletouch, along with a report on related current purchase orders received. The first announcement was the approval of Teletouch as the Texas Multiple Award Schedule (TXMAS) contract holder #TXMAS-11-84060 for a term of five years, initially providing public safety products from Whelen® Engineering Company, Inc. Participation for buyers in the TXMAS program is open to all cities and counties, as well as schools and school districts throughout the state of Texas.
The release went on to explain that TXMAS contracts are established as an alternative purchasing method by Texas Procurement and Support Services (TPASS). The TXMAS contracts are developed from and are related to contracts awarded by the federal government. As a result of the Company’s recent General Services Administration (GSA) multi-year contract award, Teletouch was accepted to the TXMAS program for its comprehensive product line of public safety, emergency vehicle lighting and siren equipment.
Teletouch CEO Kip Hyde was quoted in the same release as saying, “The recent awards of these two state purchasing contracts are significantly increasing sales in our public safety equipment division.”
Hyde continued, “Purchase Orders received midway through the first quarter of our current fiscal year 2012 have already exceeded last fiscal year’s total sales of $1.2 million. Our pipeline for the full fiscal year (ending May 2012) appears strong and the division’s sales could have total sales of $6 – $8 million.”
For over 46 years, Teletouch, based in Fort Worth, has offered a comprehensive suite of wireless telecommunications solutions, including cellular, two-way radio, GPS-telemetry and wireless messaging.
SilverSun Technologies Inc. (SSNTD) retires debt, leaps in price
Posted on: July 21st, 2011Written by:
SilverSun Technologies Inc. (OTCBB: SSNTD) hiked 56.6% to 13 cents Thursday, on news the company had eliminated a heavy debt load. Volume for the stock topped 68,000 shares.
A news release dated July 21, noted that the Livingston, New Jersey-based company has eliminated an additional $1,338,960 of debt from its balance sheet. The debt, which has been forgiven, was due and owing the Company’s Chief Executive Officer, Mark Meller. This debt reduction follows the redemption and elimination of the Company’s convertible debentures and associated liabilities, which were retired this past April. The total amount of debt and liabilities removed from the Company’s balance sheet since April 1, 2011 now exceeds $3,567,000.
Meller was quoted in the same release as saying, “As a significant shareholder in our Company, I agreed to forgive this debt because I believe that such a step will enhance the value of the holdings of all shareholders, myself included. I am confident in our ability to successfully implement our aggressive growth and acquisition plan. This debt reduction increases the likelihood that we will be able to utilize our stock in the future to make acquisitions.”
SilverSun Technologies, Inc. (formerly Trey Resources, Inc.) is involved in the acquisition and build-out of technology and software companies. The Company’s growth strategy is to acquire firms in this extensive and expanding, but highly fragmented segment, as it seeks to create substantial value for shareholders. Since June 2004, SilverSun has acquired SWK Technologies, Inc., Business Tech Solutions Group, Inc., Wolen Katz Associates, and AMP-BEST Consulting, Inc.
