Ad hoc-Service: WIZCOM Technologies Ltd. <IL0010830706> Wizc = - 500 Beiträge pro Seite

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WizCom announces Year 2000 Results and Cooperation Agreement with Hexaglot, Germany

March 21, 2001, Jerusalem, Israel- WizCom Technologies Ltd., (WizCom, Neuer Markt: WZM, WKN 915 856) announces today the company's results for Year 2000 (see independent public accountants remark on the going concern and the company comment accordingly). Furthermore WizCom has signed an agreement with Hexaglot, Germany, to serve as a master agency for distribution in Europe.

Sales for the year 2000 and for Q4 2000 were US$ 14,903 thousand and US$ 3,710 thousand respectively. Sales for the corresponding periods of the previous year were US$ 11,613 thousand and US$ 2,355 thousand respectively. A 28% increase in sales was recorded for the fiscal year 2000 over those recorded for the fiscal year 1999 and a 58% increase in sales was recorded in Q4 of the fiscal year 2000, over those recorded during the corresponding period last year.During Q4 of the fiscal year 2000, WizCom suceeded in increasing sales by 49% over those recorded in Q3 of the fiscal year 2000. Losses for the year 2000 and for the Q4 2000 were US$ 8,462 thousand and US$ 2,573 thousand respectively. Losses for the corresponding periods of the previous year were US$ 11,692 thousand and U.S$ 1,957 thousand respectively.

The Net Loss is derived from a few major factors.The most significant one is that during the past years the company allocated a great deal of resources towards marketing and sales activities, especially in the US. These resources facilitated the penetration of the company's first and second-generation products. The company has reached a decision to redirect its structure while maintaining an increasing rise in sales. Thus, the company does not foresee additional expenses in these areas. This will undoubtedly have a significant positive impact on the financial results. WizCom's sales figures have not yet reached a critical mass compared to the company's associated burn rate. The current burn rate is attributed to the company's significant investments in research and development. WizCom believes that this significant investment is essential for achieving and maintaining market leadership. The company will continue to devote substantial resources to R&D in future. Approximately US$ 700 thousands have been recorded for allowance of doubtful debt.

As Wizcom expects that the demand for Quicktionary ll will far exceed that of Quicktionary I, a strategic decision has been made to phase out the first-generation product. A non-recurring write-off of Quicktionary I components and finished goods inventories, in the amount of US$1,257 thousand, was recorded for the fiscal year 2000.

The working capital at the end of the years 2000 and 1999 were US$ 11,456 and US$ 19,326 respectively. Shareholder's equity at the end of 2000 and 1999 were US$ 23,053 and US$ 14,591 respectively.

Hexaglot, owned by The Langenscheidt Publishing Group, has been a strong distributor of WizCom's products from the start. As Hexaglot's sales record of Quicktionary tools has been among the highest worldwide, they were a natural choice for WizCom for the distribution of their products in Europe.

The REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS contains a remark that the financial statements have been prepared assuming that the company will continue as a going concern. As discussed in the financial statements, the company has suffered recurring losses from operations that according to the independent public accountant raise substantial doubt about its ability to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

The Board of Directors and the management of the company are united in their unequivocal objection to the independent public accountant's remark of the going concern. The company belives that the independent public accountants are relying on the company's past record only without no consideration to the new financial scheme that has been put into effect with significant success, during Q1 2001. Therefore, their remark is a miscomprehension of the reality of the business, and the impact on the financial statements accordingly .The company also believes that the independent public accountants are unreasonably assuming that past record is a major key to the future. Furthermore, the Board of Directors and the management of the company are determined to continue the execution of the financial sceme which will guarantee Wizcom's on going activities through 31, December 2001 and beyond.

WizCom Technologies Ltd. Kirchhoff Consult AG Raz Itzhaki Ulla Erdmann 8B Hamarpe St. Ahrensburger Weg 2 Har Hotzvim 20359 Hamburg Jerusalem 97774 Israel Tel.: [phone] Tel.: [phone] Fax: [phone] www.wizcomtech.com

End of Message

210832 Mär 01

[Daytrottel]

Warum ist es eigentlich so ruhig im Wizcom-Board ????????
Okay die Zahlen waren nicht ganz so gut aber die Umsatzsteigerung im 4 Quartal läßt doch hoffen.
Außerdem ist die heute bekanntgegebene Zusammenarbeit mit Langenscheid/Hexaglot völlig untergegangen.
Langenscheid besitzt für die Wizcomprodukte exellente Vertriebswege die den Umsatz/Gewinn von Wizcom in naher Zukunft extrem positiv beeinflussen könnte.
Für mich beim derzeitigen Kurs eindeutig ein Einstieg wert.
Wenn sich die Börsen beruhigt haben wird auch den einfälltigsten Analysten (und den Aktionären) ein Licht aufgehen was diese heutige Athocmeldung bedeutet.
Kurssprünge um +100% würde ich in den nächsten Tagen/Wochen nicht ausschließen.

Auf bessere (Börsen-)Zeiten !!!!!!!!

[Daytrottel]

Adhoc natürlich mit DDDDDDDDDDDDDDDDDDDDDDD !!!
Ich bin ja wirklich ein Trottel !

[AiwGe]

Gibts die adhoc auch irgendwo in Deutsch ??