High Risk Wert mit mehreren 1000% Kurspotenzial - 500 Beiträge pro Seite

[benefactor [KommA]]

Porta Systems Corp. develops, designs, manufactures and markets a range of standard and telecommunications equipment and integrated software applications for the connection, protection, testing and administration of public and private telecommunications lines and networks domestically and internationally. The Company`s core products fall into three categories: Telecommunications connection and protection equipment, which are used to connect copper-wired telecommunications networks and to protect telecommunications equipment from voltage surges; Signal processing equipment, which support copper wire-based communications systems for use principally in defense and aerospace applications, and computer-based operation support systems (OSS) systems, which focus on the access loop and are components of telephone companies` service assurance and service delivery initiatives.
http://www.portasystems.com/

Shares Oustanding: 9,972,284
Market Cap: ca. 2 Millionen USD
Umsatz: ca. 28 Millionen USD
Cash: ca. 1 Million USD

Key Statistics:
http://finance.yahoo.com/q/ks?s=PYTM.OB

Income Statement: (Annual Data)
http://finance.yahoo.com/q/is?s=PYTM.OB&annual

Income Statement: Quarterly Data
http://finance.yahoo.com/q/is?s=PYTM.OB

Das Risiko von Porta Systems liegt in den Schulden.

On September 30, 2004, the Company’s debt to its senior lender was $25,653,000. On October 14, 2004, the maturity date of the senior debt was extended to January 1, 2005. The extension was granted by SHF IX LLC, an affiliate of Stonehill Financial, LLC, which purchased the Company’s senior debt from Wells Fargo Foothill, Inc. during the third quarter of 2004. The Company does not have the ability to pay the senior debt or the subordinated debt described in the following paragraph. If the agreement is not extended beyond January 1, 2005, or if the senior lender demands payment of all or a significant portion of the loan when due, the Company will not be able to continue in business and may seek protection under the Bankruptcy Code.

Pursuant to our agreement with our senior lender, we have not paid or accrued interest on $22,600,000 of senior debt since March 2002. As a result, our statements of operations do not reflect any interest charges on this portion of our senior debt for 2003 or 2004. The senior lender has the right at any time to require us to pay interest; however, our obligation to pay interest will not require us to pay interest on such senior debt for periods prior to the date the senior lender requires us to commence interest payments. We continue to accrue interest on obligations to our senior lender which were incurred subsequent to March 2002.

As of September 30, 2004, the Company’s short-term debt also included $6,144,000 of subordinated debt that became due on July 3, 2001 and $385,000 of 6% debentures which became due on July 2, 2002. Accrued interest on the subordinated notes was approximately $3,898,000, which represents interest from July 2000 through September 30, 2004, and accrued interest on the 6% debentures was $98,000. The Company’s senior lender has precluded the Company from paying any principal or interest on the subordinated debt.

Porta Systems befindet sich ungefähr in der gleichen Situation wie National Vision im Jahre 2001. National Vision ist es gelungen den Kredit zu verlängern und zahlte in den letzten Jahren schon einige der Schulden zurück. Damals hatte man NVI auch schon aufgegeben und der Kurs befand sich teilweise unter 0.02 USD. Heute notiert NVI wieder an der AMEX bei 6 USD. Bei PYTM ist es durchaus möglich, dass wieder das gleiche passiert.

[gabi]

interessantes teil. habe nur mal kurz die letzte earnings pr überflogen. da war was von fälligkeit der schulden bis 1.1 2005 zu lesen. haben die einen aufschub bekommen?? bzw ein neues arrangement?

[benefactor [KommA]]

Bis jetzt ist noch nichts Offizielles bekannt.

Aber irgendwie ist es doch sehr merkwürdig, dass gerade ein paar Monate vor dem Fälligkeitstermin im Q3 2004 das komplette senior debt in höhe von $25,653,000 von einem Unternehmen Namens SHF IX LLC (Stonehill Financial, LLC) von dem ehemaligen Gläubiger Wells Fargo Foothill, Inc. abgekauft wird.

SHF IX LLC (Stonehill Financial, LLC) wird wohl ganz genau über die finazielle Lage von PYTM bescheid wissen. Was würde es für einen Sinn ergeben das Geld gerade jetzt zu fordern, da PYTM sowieso nicht in der Lage ist zu zahlen? Der Deal mit Wells Fargo wäre doch einfach nur schwachsinnig gewesen.

[Gulliver]

bene,

also wenn deine speku aufgeht, dann...

frag doch mal dostolino dazu, der hat als ehemaliger bondtrader wohl einen guten blick für sowas

gruss

gulliver

[benefactor [KommA]]

About Stonehill:

Stonehill was founded on the belief that the best guidance for businesses facing critical issues comes from experienced business advisors who have successfully managed similar situations while maintaining the highest levels of integrity and professionalism. Our firm’s character is reflected in the stature of our professionals. Stonehill’s professionals are highly educated in finance, economics, accounting, financial analysis, business administration and the law. They are recognized professionals in their fields who have successfully managed a wide variety of complex and sensitive financial, operational, litigation and business challenges.


Stonehill Financial, LLC purchases distressed under performing and non performing debt of privately-held entities through a $250 Million Distressed Debt fund provided by Värde Partners. Stonehill Financial, LLC was founded in 2003 and has purchased and manages over $100,000,000 of loans.

-Purchases troubled company distressed loans from $5 million to $25 million
-Provides liquidity for lenders to privately-held troubled companies
-Provides lenders and companies with an alternative to liquidation
-Provides Junior Secured loans from $3 to $10 Million
-Sources capital for business turnarounds and future growth

Stonehill Financial, LLC procures manufacturing, retail, telecom, financial services, distribution, transportation, real estate, and service industry debt in amounts of $5 Million to $25 Million with funding provided by Värde Partners, Inc. Stonehill Group, LLP acts as Asset Manager.

The combination of Värde’s resources (over $2 Billion invested) and Stonehill Group, LLP’s troubled company expertise provides lenders with a ready market for the sale of distressed debt of privately-owned entities. Together, Stonehill and Värde have the necessary liquidity, experience, financial skills and management depth required to expeditiously analyze and close purchases of distressed debt.

Stonehill will consider total capital solutions for businesses by providing or arranging capital for any additional needs. Stonehill Financial, LLC is led by Donald C. Swenson, Chairman, Edward L. Finn, CEO and Kenneth J. Severinson, President.


Stonehill Group, LLP leads the way, solves the puzzle, and delivers the solutions for under performing and distressed businesses.

Turnaround Management and Restructuring Solutions:

-Advise and manage under performing companies
-Lead out of court restructurings and reorganizations
-Develop and execute turnaround and stabilization plans
-Assist in creating and preserving shareholder value

Stonehill Group, LLP was founded on the belief that the best guidance for business owners, investors, and their boards of directors facing critical issues comes from experienced business advisors who have successfully managed similar situations while maintaining the highest levels of integrity and professionalism.

Stonehill’s professionals are highly skilled in finance, economics, accounting, financial analysis, business administration and the law. Stonehill’s senior professionals have been CEO’s, CFO’s or Directors of public and private firms ranging in size from $10 million to $1 billion. Our decades of real-world experience in business, finance and the legal system, contribute to successful turnaround and restructuring outcomes, thereby enhancing valuations for business owners, lenders, and investors.

-Turnaround Services
-Crisis Management
-Turnaround Management
-Interim Management
-Out of Bankruptcy Restructuring
-Refinancing
-Sourcing Capital
-Divestitures and Liquidations
-Business Assessments
-Reorganization Advisory

[gabi]

danke bene, das wollte ich dich gerade fragen ob es ein paar infos zu stonehill gibt. so wie sich das liest wollen die die kuh nicht schlachten sondern melken. den turnaround hat porta eigentlich schon hingelegt. nachhaltig?? tja ich weiss nicht. allerdings schöne revenue zuwächse. der nächste qbericht ist ja demnächst fällig. wieso sind da nur so kümmerliche tradingumsätze?? dürfte schwierig werden da einzusteigen.

[benefactor [KommA]]

Form 8-K for PORTA SYSTEMS CORP

4-Feb-2005

Entry Material Agreement


Item 1.01 Entry into a Material Definitive Agreement

On February 1, 2005, we entered into an agreement with SHF IX, which amended our Amended and Restated Loan and Security Agreement, dated as of November 28, 1994, as amended, to extend the maturity of our senior debt to April 1, 2005. The agreement also amends the financial covenants and provides for monthly payments of $75,000 on account of our senior debt. SHF IX is the successor to our former senior lender, Wells Fargo Foothill, Inc.

[benefactor [KommA]]

Porta Systems Corp. Reports Results for the Quarter and Year Ended December 31, 2004
Thursday March 31, 2:00 pm ET

SYOSSET, N.Y.--(BUSINESS WIRE)--March 31, 2005--Porta Systems Corp. (OTCBB:PYTM - News) today reported operating income for the quarter ended December 31, 2004 of $922,000 compared to operating loss of $358,000 for the quarter ended December 31, 2003.

The Company reported net income of $469,000, $0.05 per share (basic and diluted), for the quarter ended December 31, 2004 as compared with a net loss of $676,000, $(0.07) per share (basic and diluted), for the comparable quarter of 2003.

The Company reported operating income for the year ended December 31, 2004 of $4,153,000 compared to an operating loss of $2,352,000 for the year ended December 31, 2003. The Company reported net income of $ 2,675,000, $0.27 per share (basic and diluted), for the year ended December 31, 2004 compared with a net loss of $3,357,000, $(0.34) per share (basic and diluted), for the comparable period of 2003.

Sales for all units were $6,913,000 for the quarter ended December 31, 2004 versus $5,465,000 for the quarter ended December 31, 2003, an increase of $1,448,000 (26%). Copper Connection/Protection sales were $5,113,000 versus $3,436,000 for the quarters ended December 31, 2004 and 2003, respectively. The increase for the quarter primarily reflects higher sales volume to British Telecommunications as a result of an increase by British Telecommunications in the availability of DSL Lines in the United Kingdom, and, to a significantly lesser extent, increased sales to our domestic and another international customer. Signal Processing sales for the quarter ended December 31, 2004 were $1,431,000 versus $1,230,000 for the quarter ended December 31, 2003, an increase of $201,000 (16%). This increase in revenue resulted from our ability to ship orders on a more timely basis as a result of our improved cash flow from our operations. OSS sales were $368,000 for the quarter ended December 31, 2004 versus $799,000 for the quarter ended December 31, 2004, a decrease of $431,000 (54%). The decreased OSS sales during the quarter resulted from our inability to secure new orders and the reduction of the scope of our OSS operations and marketing effort. Currently our OSS operations are limited to the performance of maintenance on existing systems and the performance of warranty services. We are also seeking to sell our existing OSS inventory; however, such sales were not significant in 2004, and we do not plan to add additional inventory.

Sales for all units were $29,168,000 for the year ended December 31, 2004 versus $19,590,000 for the year ended December 31, 2003, an increase of $9,578,000 (49%). Copper Connection/Protection sales for the year ended December 31, 2004 were $21,545,000 versus $11,334,000 for the year ended December 31, 2003, an increase of $10,211,000 (90%). This increase is attributed to increased sales of Connection products to British Telecommunications that commenced in the third quarter of 2003, as a result of an increase by British Telecommunications in the availability of DSL Lines in the United Kingdom, and to a significantly lesser extent, from an increase in our domestic sales and sales to another international customer. Signal Processing sales for the year ended December 31, 2004 were $5,551,000 versus $4,253,000 for the year ended December 31, 2003, an increase of $1,298,000 (31%). Our increased cash flow from operations enhanced our ability both to obtain orders which we were previously unable to bid on and to ship orders on a more timely basis. OSS sales were, for the year ended December 31, 2004, $2,003,000 versus $3,249,000 for the year ended December 31, 2003, a decrease of approximately $1,246,000 (38%). The decrease in OSS sales resulted from the reduction in scope of our OSS operations and marketing effort as described above. During the first two quarters of 2004, OSS sales reflect the recognition of revenue from sales under OSS contracts that were in place at the end of 2003. During the third and fourth quarters, substantially all of the OSS revenue was from maintenance contracts.

The overall gross margin for all business units was 40% for the quarter ended December 31, 2004, compared to 24% for the quarter ended December 31, 2003. Gross margin for the year ended December 31, 2004 was 39% compared to 28% for the year ended December 31, 2003. The increase in the gross margin percentages reflects better absorption of manufacturing overhead created by the increase in revenue from our Connection business as a result of increased business from British Telecommunications, as stated above, reduced OSS costs reflecting the scaling down of OSS operations and lower operating expenses, all of which enabled us to operate more efficiently than in the comparable periods of 2003. The cost of sales for the year ended December 31, 2004 includes approximately $341,000 of severance accruals related to the termination of certain manufacturing personnel during the third quarter of 2004, which was partially offset by the reduction of certain estimated accrued costs recorded in prior years of approximately $170,000. In addition, the gross margins for the quarter and year ended December 31, 2003 were negatively impacted by the aforementioned $600,000 of additional estimated costs to complete long term OSS contracts.

Operating expenses for the quarter and year ended December 31, 2004 increased by $179,000 (11%) and decreased by $620,000 (8%), respectively, when compared to the fourth quarter of 2003 and the year ended December 31, 2003.

Interest expense, primarily on our subordinated debt and that portion of our senior debt that we incurred during 2002, increased for the year by $40,000 (3%) from $1,277,000 in 2003 to $1,317,000 in 2004. We pay no interest on that portion of our senior debt, amounting to $22,610,000, incurred prior to 2002 until such time as the holder of the senior debt in its sole discretion notifies us that interest shall be payable.

The Company`s Copper Connection/Protection business unit operated profitably during the fourth quarter and year ended December 31, 2004, with operating income of $1,470,000 and $5,784,000 respectively for the quarter and year. The Signal Processing unit operated profitably during the quarter and year of 2004, with operating income of $428,000 and $2,124,000, respectively. The OSS unit incurred operating losses of $391,000 and $1,662,000 for the quarter and year of 2004, respectively.

On December 31, 2004, the Company`s outstanding senior debt was $25,674,000. On March 23, 2005, the maturity date of the senior debt was extended to July 1, 2005. The extension was granted by SHF IX LLC, an affiliate of Stonehill Financial, LLC, which purchased the Company`s senior debt from Wells Fargo Foothill, Inc. during the third quarter of 2004. We cannot give any assurance that the holder of the senior debt will extend the loan beyond July 1, 2005. If the holder does not extend the maturity date of our obligations or demands payment of all or a significant portion of our obligations due to the senior lender, we will not be able to continue in business.

Porta Systems Corp. designs, manufactures, markets and supports communication equipment used in telecommunications, video and data networks worldwide.
http://biz.yahoo.com/bw/050331/315676.html?.v=1

[benefactor [KommA]]

Wir haben 3 Insiderkäufe bei PYTM. Die letzten Insiderkäufe bei PYTM fanden noch im letzten Jahrtausend statt.

Die Insiderkäufe fanden alle zu einem Preis von $0.8125 statt. Aber warum kaufen die ihre Aktien zu einem Kurs, der ein paar 100% über dem jetzigen steht? Ja, möglicherweiße handelt es sich aber auch um einen Fehler und es sollte $0.1825 heißen. Jedoch ist es im Endeffekt egal ob $0.8125 oder $0.1825 ein Insiderkauf ist immer positiv zu bewerten und vor allem bei PYTM.

http://secfilings.nasdaq.com/filingFrameset.asp?FileName=000…
http://secfilings.nasdaq.com/filingFrameset.asp?FileName=000…
http://secfilings.nasdaq.com/filingFrameset.asp?FileName=000…

[Gulliver]

hi bene,

also ich bin mir nicht ganz sicher, ob das jetzt wirklich insiderkäufe sind. laut yahoo alle "non-open-market" also als paket und wohl eher durch auslösung von optionsrechten.

schaut man auf die fillings so sieht man ja, dass die sich echt nicht geniert haben bei den ausübungspreisen. geht glaube ich bei 0,07 los - und nen taschengeld nimmt doch auch ein director gerne mit, oder?

cu gulliver

[benefactor [KommA]]

Ich habe diese Transaktionen heute morgen noch mal genauer betrachtet.
Keine Insiderkäufe! "compensation"

Grant of common stock in lieu of director`s fees of $29,200 for service in the year 2000. Stock price is based on the then value of the shares as of the date of approval by the Board of Directors, 08/08/2000.

[benefactor [KommA]]

Die Q1 2005 Zahlen sind da.
http://secfilings.nasdaq.com/filingFrameset.asp?FileName=000…

[benefactor [KommA]]

Porta Systems Corp. Reports Results for the Quarter Ended March 31, 2005
Friday May 13, 1:27 pm ET

SYOSSET, N.Y.--(BUSINESS WIRE)--May 13, 2005--Porta Systems Corp. (OTCBB:PYTM - News) today reported operating income for the quarter ended March 31, 2005 of $1,545,000 compared to operating income of $1,151,000 for the quarter ended March 31, 2004.

The Company reported net income of $1,203,000, or $0.12 per share (basic and diluted), for the quarter ended March 31, 2005 as compared with a net income of $828,000, or $0.08 per share (basic and diluted), for the comparable quarter of 2004.

Sales for all units were $7,615,000 for the quarter ended March 31, 2005 versus $8,100,000 for the quarter ended March 31, 2004, a decrease of $485,000 (6%). Copper Connection/Protection sales were $5,707,000 versus $5,972,000 for the quarters ended March 31, 2005 and 2004, respectively. This 4% decrease reflected a decline in sales to British Telecommunications. Signal Processing sales for the quarter ended March 31, 2005 were $1,656,000 versus $1,303,000 for the quarter ended March 31, 2004, an increase of $353,000 (27%). This increase resulted from our ability to ship orders from backlog on a more timely basis than in the comparable period of 2004. OSS sales were $208,000 for the quarter ended March 31, 2005 versus $811,000 for the quarter ended March 31, 2004, a decrease of $603,000 (74%). The decreased sales resulted from the reduction in the scope of our OSS operations. Because of continuing losses in the OSS division, combined with difficulties in marketing OSS products in view of our financial condition, we limit our OSS activities to the performance of maintenance and warranty services. We anticipate that our OSS operations will become an increasingly less important part of our overall business.

The overall gross margin for all business units was 41% for the quarter ended March 31, 2005, compared to 39% for the quarter ended March 31, 2004. This increase is from our Line and Signal Processing segments, somewhat offset by a decrease in the OSS margin.

Operating expenses for the quarter ended March 31, 2005 decreased by $381,000 (19%), compared to the first quarter of 2004. This decrease relates primarily to the reduction in the scope of our OSS operations.

The Company`s Copper Connection/Protection and the Signal Processing business units operated profitably during the quarter ended March 31, 2005, with operating income of $1,573,000 and $698,000, respectively. The OSS unit incurred an operating loss of $273,000 for the quarter.

On March 31, 2005, the Company`s outstanding senior debt, including accrued interest, was $25,615,000. On March 23, 2005, the maturity date of the senior debt was extended to July 1, 2005. The extension was granted by SHF IX LLC, an affiliate of Stonehill Financial, LLC, which purchased the Company`s senior debt from Wells Fargo Foothill, Inc. during the third quarter of 2004. We cannot give any assurance that the holder of the senior debt will extend the loan beyond July 1, 2005. If the holder does not extend the maturity date of our obligations or demands payment of all or a significant portion of our obligations due to the senior lender, we will not be able to continue in business.

Porta Systems Corp. designs, manufactures, markets and supports communication equipment used in telecommunications, video and data networks worldwide.
http://biz.yahoo.com/bw/050513/135516.html?.v=1

[benefactor [KommA]]

On July 1, 2005 we entered into an agreement with SHF IX LLC, which amended our Amended and Restated Loan and Security Agreement, dated as of November 28, 1994, as amended, to extend the maturity of our senior debt to August 1, 2005. The agreement also provides for monthly payments of $75,000 on account of our senior debt and our payment of a $75,000 extension fee. SHF IX LLC is the successor to our former senior lender, Wells Fargo Foothill, Inc.

Die gleiche Vereinbarung wie im Februar. Wir werden sehen was am 1. August geschieht. Aber macht es Sinn eine hochprofitable Firma den Bach herunter gehen zu lassen?

[benefactor [KommA]]

Porta Systems Corp. überrascht erneut mit einem exzellenten Quartallsbericht. Darüberhinaus nehmen die Verhandlungen über die Schulden (senior debt) so langsam Gestalt an.


Porta Systems Corp. Reports Results for the Quarter and Six Months Ended June 30, 2005
Thursday August 11, 4:39 pm ET

SYOSSET, N.Y.--(BUSINESS WIRE)--Aug. 11, 2005--Porta Systems Corp. (OTC.BB:PYTM - News) today reported an operating income for the quarter ended June 30, 2005 of $1,214,000 compared to an operating income of $683,000 for the quarter ended June 30, 2004. The Company recorded a net income of $887,000, $0.09 per share (basic and diluted), for the June 30, 2005 quarter versus a net income of $320,000, $0.03 per share (basic and diluted), for the comparable quarter of 2004.

The Company reported an operating income for the six months ended June 30, 2005 of $2,759,000 compared to an operating income of $1,834,000 for the six months ended June 30, 2004. The Company recorded a net income of $ 2,091,000, $0.21 per share (basic and diluted), for the six months ended June 30, 2005 versus a net income of $1,148,000, $0.12 per share (basic and diluted) for the six months ended June 30, 2004.

Sales for all units were $8,425,000 for the quarter ended June 30, 2005 versus $6,272,000 for the quarter ended June 30, 2004, an increase of approximately $2,153,000 (34%). Copper Connection/Protection sales were $6,574,000 versus $4,427,000 for the quarters ended June 30, 2005 and 2004, respectively. The increase for the quarter reflects increased sales volume to British Telecommunications in the United Kingdom and, to a lesser extent, increased sales of our Line products to our domestic and other international customers. Signal Processing sales for the quarter ended June 30, 2005 were $1,598,000 versus $1,289,000 for the quarter ended June 30, 2004, an increase of $309,000 (24%), resulted from our ability to ship orders from the backlog on a more timely basis than in 2004.

Because of continuing losses in the OSS division, combined with difficulties in marketing OSS products in view of our financial condition, we limit our OSS activities to the performance of maintenance and warranty services. For the quarter ended June 30, 2005, OSS sales were $202,000 vs. $536,000 for the quarter ended June 30, 2004.

Sales for all units were $16,041,000 for the six months ended June 30, 2005 versus $14,372,000 for the six months ended June 30, 2004, an increase of approximately $1,669,000 (12%). Copper Connection/Protection sales for the six months ended June 30, 2005 were $12,281,000 versus $10,399,000 for the six months ended June 30, 2004, an increase of $1,882,000 (18%). This improvement is attributed to an increase in sales of Line products to British Telecommunications which commenced in the third quarter of 2003, as a result of an increase by British Telecommunications in the availability of DSL Lines in the United Kingdom, and to a lesser extent, to an increase in sales of Line products to our domestic and other international customers. Signal Processing sales for the six months ended June 30, 2005 were $3,255,000 versus $2,591,000 for the six months ended June 30, 2004, an increase of $664,000 (26%). This increase in Signal sales for the six months resulted from our ability to ship orders from backlog on a more timely basis than in the comparable period of 2004. For the six months ended June 30, 2005, OSS sales were $410,000 compared to $1,346,000 for the comparable six months of 2004. OSS sales were only from maintenance in 2005.

The overall gross margin for all business units was 38% for both the quarter ended June 30, 2005 and 2004. Gross margin for the six months ended June 30, 2005 was 40%, compared to 38% for the six months ended June 30, 2004. This increase for the six months is the result of better absorption of manufacturing overhead created by the increase in revenue from our Line business and reduced OSS costs, both of which enabled us to operate more efficiently than in the comparable periods of 2004.

Operating expenses for the quarter ended June 30, 2005 increased by $344,000 (20%) from 2004. This increase relates primarily to a rent accrual for facilities no longer being utilized in the United Kingdom, which was partially offset by reduced OSS sales expenses as our marketing activities for OSS were sharply reduced during 2004 and into the first half of 2005. For the six months ended June 30, 2005, operating expenses decreased by $36,000 (1%) when compared to last year`s six months. This decrease relates primarily to the aforementioned rent accrual, which was more than offset by reduced sales and research and development expenses, principally due to reduced OSS activities.

Interest expense decreased for the six months by $14,000 (2%) from $660,000 in 2004 to $646,000 in 2005.

The Company`s Copper Connection/Protection business unit operated profitably during the quarter and six months, with operating income of $1,537,000 and $3,109,000 respectively for the quarter and six months. The Signal Processing unit operated profitably during the quarter and six months of 2005, with operating income of $689,000 and $1,387,000, respectively. The OSS unit incurred operating losses of $263,000 and $535,000 for the quarter and six months of 2005, respectively.

On August 5, 2005, we entered into an agreement with our senior lender which extended the maturity of our senior debt to September 30, 2005. As a condition to the extension, we agreed to take steps to effect a restructure of the senior debt in a manner which results in the payment of a significant portion of the senior debt and the issuance of secured debt and equity for the balance of the senior debt on specified terms. Any such restructure will require us to obtain financing from a new investor. Although we intend to seek such an investor, we may not be able to identify and enter into an agreement with an investor on terms that are acceptable to our senior lender. We also agreed to engage an investment banker to assist us in exploring strategic alternatives.

Porta Systems Corp. designs, manufactures, markets and supports communication equipment used in telecommunications, video and data networks worldwide.
http://biz.yahoo.com/bw/050811/115771.html?.v=1

[specialoffer]

na die zahlen werden ja richtig gut angenommen.

[Gulliver]

yep, da heisst es jetzt am ball bleiben!

jedoch ist es mir für ein engagement noch zu vage...

cu gulliver

[benefactor [KommA]]

Sicher ist bei PYTM noch nichts. Ich habe mir aber dennoch in den letzten Monaten (häppchenweise) ein paar Tausend Aktien zugelegt.

[benefactor [KommA]]

Porta Systems Corp. Hires Duff & Phelps, LLC as Investment Banker
Monday August 29, 2:20 pm ET

SYOSSET, N.Y.--(BUSINESS WIRE)--Aug. 29, 2005--Porta Systems Corp. (OTCBB:PYTM - News) has hired investment banking firm Duff & Phelps, LLC to assist the Company with an evaluation of strategic alternatives. Duff & Phelps will help the Company analyze opportunities concerning refinancing of the Company`s existing debt and other strategic alternatives.

Cary Stanford, a managing director at Duff & Phelps who will be the lead banker on the assignment, said "I believe the Company`s recent financial performance will attract a great deal of interest among investors."

Porta Systems` president and chief operating officer, Edward B. Kornfeld, said, "Based on our recent results, we can now address issues relating to improving our financial flexibility. The Company will look to Duff & Phelps for assistance in exploring possible ways of achieving improved financial flexibility and other strategic alternatives."

Porta Systems Corp. designs, manufactures, markets and supports communication equipment used in telecommunications, video and data networks worldwide.
http://biz.yahoo.com/bw/050829/295677.html?.v=1

[benefactor [KommA]]

About Duff & Phelps:

Duff & Phelps is a national investment banking and financial advisory firm focused on providing merger & acquisition, private placement, valuation, financial opinion and restructuring services. Since 1932, Duff & Phelps has been committed to delivering independent advice and service of exceptional quality to a broad range of public and private companies.

For the first half of 2005, investment banking and financial advisory activity at Duff & Phelps has continued its strong pace, as evidenced by the above selected transactions in our various practice areas. Merger and acquisition activity continues to benefit from attractive long-term interest rate levels and strong market liquidity. Against this backdrop, Duff & Phelps also continues to grow through the addition of a number of key finance professionals in investment banking and financial advisory services. Below are some highlights from our achievements over the past six months:

* Valuemetrics Acquisition: In January 2005, Duff & Phelps acquired the assets of Valuemetrics, a financial advisory firm specializing in valuation services, litigation support and ESOP advisory services. With its 23-year track record of providing strategic advice to clients, and offices in Chicago, Atlanta and New York, Valuemetrics enhances Duff & Phelps` service offerings and expands its geographic coverage to the US Southeast.

* Restructuring Services: Duff & Phelps welcomes Cary Stanford, former co-head of Saybrook Restructuring Advisors, to lead its national restructuring practice. Mr. Stanford brings nearly 20 years of investment banking and financial restructuring experience to Duff & Phelps, and has advised dozens of companies and other constituents in Chapter 11 and out-of-court restructurings.

* Hispania Capital Partners: In April 2005, Hispania Capital Partners, in partnership with Duff & Phelps, announced its acquisition of controlling interest in Eastern Research Services Inc., an independent market-research firm. Hispania`s investment will enable the company to expand its bilingual language-of-choice services, enhance its call-center operations and solidify its working capital structure.

With more than 100 people performing 500 successful client engagements annually, we have the breadth and depth of experience to consistently maximize value and exceed expectations. We look forward to doing so for each of you in the months and years to come.
http://www.duffllc.com/

[benefactor [KommA]]

Mit einem KGV von 1,41 ist PYTM immer noch absolut günstig bewertet. Eigentlich traurig das sich hier kaum einer dafür interessiert. Nach einer Umschuldung ist PYTM locker wieder ein paar Dollar pro Aktie wert. Das Risko ist auserdem recht gering, im Gegensatz zu solchem anderen OTCBB Schrott, über den hier haufenweise diskutiert wird. Hier habt ihr wirklich die Chance auf ein paar hundert Prozent.

[benefactor [KommA]]

Porta Systems Corp. Reports Results for the Quarter and Nine Months Ended September 30, 2005
Monday November 14, 4:01 pm ET

SYOSSET, N.Y.--(BUSINESS WIRE)--Nov. 14, 2005--Porta Systems Corp. (OTC.BB:PYTM - News) today reported operating income for the quarter ended September 30, 2005 of $499,000 compared to operating income of $1,398,000 for the quarter ended September 30, 2004. The Company recorded net income of $107,000, $0.01 per share (basic and diluted), versus net income of $1,058,000, $0.11 per share (basic and diluted), for the quarters ended September 30, 2005 and 2004, respectively.

The Company reported operating income for the nine months ended September 30, 2005 of $3,257,000 compared to operating income of $3,231,000 for the nine months ended September 30, 2004. The Company recorded net income of $2,197,000, $0.22 per share (basic and diluted) versus net income of $2,206,000, $0.22 per share (basic and diluted) for the nine months ended September 30, 2005 and 2004, respectively.

Sales for all units were $7,021,000 for the quarter ended September 30, 2005 versus $7,883,000 for the quarter ended September 30, 2004, a decrease of approximately $862,000 (11%). Copper Connection/Protection sales were $5,588,000 versus $6,054,000 for the quarters ended September 30, 2005 and 2004, respectively. The decrease for the quarter is the result of granted reduced sales price on the products sold to British Telecommunications. Signal Processing sales for the quarter ended September 30, 2005 were $1,263,000 versus $1,529,000 for the quarter ended September 30, 2004, a decrease of $266,000 (17%), resulted from lower new orders during the quarter. OSS sales for the three months ended September 30, 2005 were $146,000 compared to $289,000 in the same period of 2004, a planned decrease of $143,000 (49%). As previously announced, the Company limits its OSS activities to the performance of maintenance and warranty services. The Company expects its OSS business to continue to decline in future years; it does not anticipate that it will enter into new maintenance contracts when our warranty obligations expire.

Sales for all units were $23,061,000 for the nine months ended September 30, 2005 versus $22,255,000 for the nine months ended September 30, 2004, an increase of approximately $806,000 (4%). Copper Connection/Protection sales for the nine months ended September 30, 2005 were $17,868,000 versus $16,453,000 for the nine months ended September 30, 2004, an increase of $1,415,000 (9%). This improvement is attributed to an increase in sales of Copper Connection/Protection products to British Telecommunications, and to a lesser extent, to an increase in sales of Copper Connection/Protection products to our domestic and other international customers. Signal Processing sales for the nine months ended September 30, 2005 were $4,517,000 versus $4,121,000 for the nine months ended September 30, 2004, an increase of $396,000 (10%). This increase in Signal sales for the nine months resulted from our ability to ship orders from backlog on a more timely basis than in the comparable period of 2004. For the nine months ended September 30, 2005, OSS sales were $557,000 compared to $1,635,000 for the comparable nine months of 2004. OSS sales in 2005 were only from maintenance contracts.

The overall gross margin for all business units was 36% for the quarter ended September 30, 2005, compared to 39% for the quarter ended September 30, 2004. This decrease is the result of the sales price reductions granted to British Telecommunications. Gross margin for the nine months ended September 30, 2005 was 39% compared to 38% for the nine months ended September 30, 2004.

Operating expenses for the quarter ended September 30, 2005 increased by $386,000 (23%) from 2004. The increase was directly related to a rent accrual of $215,000 (part of a total accrual for the nine months of 2005 of $715,000), regarding a proposed settlement of the remaining lease obligation of our United Kingdom subsidiary, of which we are the guarantor, and an accrual of $100,000 related to warranty expenses associated with the OSS division. These expenses were partially offset by reduced OSS sales expenses as our marketing activities for OSS were sharply reduced during 2004 and into the first half of 2005. For the nine months ended September 30, 2005, operating expenses increased by $349,000 (7%) when compared to last year`s nine months. The increase was directly related to the accrual of rent and warranty expenses described above.

Income tax expense for the nine months ended September 30, 2005 was $106,000 compared to $44,000 for the same period of 2004. The primary reason for the increase in 2005 was due to a provision of $75,000 related to federal income taxes. For the quarter ended September 30, 2005, income tax expense increased by $65,000 primarily from the provision for federal income taxes. Although we have significant tax loss carryforwards, the benefit was somewhat offset by the alternative minimum tax provisions.

The Company`s Copper Connection/Protection business unit operated profitably during the quarter and nine months, with operating income of $944,000 and $4,054,000 respectively for the quarter and nine months. The Signal Processing unit operated profitably during the quarter and nine months of 2005, with operating income of $488,000 and $1,875,000, respectively. The OSS unit incurred operating losses of $166,000 and $702,000 for the quarter and nine months of 2005, respectively.

On October 12, 2005, we entered into an agreement with SHF IX, LLC, dated as of October 12, 2005, which amended our Amended and Restated Loan and Security Agreement, dated as of November 28, 1994, as amended, to extend the maturity of our senior debt to December 15, 2005. As a condition to the extension, the Company agreed to take steps to effect a restructure of the senior debt in a manner which results in the payment of a significant portion of the senior debt and the issuance of secured debt and equity for the balance of the senior debt on specified terms. Any such restructure will require the Company to obtain financing from a new investor. Although the Company is seeking such an investor, the Company cannot give any assurance that it will be able to obtain an investor on terms that are acceptable to SHF IX. Pursuant to the agreement with SHF IX, the Company has engaged an investment banker to assist it in exploring strategic alternatives. In the event we are able to secure an investor to restructure the senior debt, it is very likely that the Company`s present common stockholders would suffer very significant dilution of their common stock holdings.

Porta Systems Corp. designs, manufactures, markets and supports communication equipment used in telecommunications, video and data networks worldwide.
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Die Lage hat sich für PYTM durch den aktuellen 10-Q verändert. Durch die geringeren Verkaufspreise pro Einheit an die British Telecom im Bereich Line connection/protection equipment hat sich der Profit drastisch veringert und Porta Systems scheint nicht mehr in der Lage zu sein so profitabel zu arbeiten wie in den letzten Quartalen. Das ist verherrend für eine so angeschlagene Firma wie PYTM.

Wenn die Preise in diesem Bereich bleiben und keine neuen Verträge geschlossen werden können, sehe ich keine große Zukunft mehr für PYTM.

Ich habe mich somit von 2/3 meiner Position getrennt und warte erst mal ab wie sich die Dinge entwickeln (10-K März 2006).

Zum Glück gab es genug Käufer über 0.20 USD. Es ist nämlich sau schwierig große Mengen bei so kleinen Werten zu kaufen und zu verkaufen.