ORTG(PK) - Reuters Report - 500 Beiträge pro Seite

[TheWind]

Kaum zu fassen - für Orion Technologies werden doch alle paar Monate tatsache noch Reports geschrieben. Der letzte von Reuters - rausgekommen vor ein paar Tagen. Kennt jemand Inhaltliches ??? Merci for any information.

[azra]

Das würde mich auch interessieren. Der Kurs ist ja nicht mehr wirklich existent. Weiß jemand mehr?

[azra]

Hallo,

kennt jemand neue Informationen? Habe gesehen, dass per heute bei Reuter wieder etwas veröffentlicht worden ist.

Kann das einer mal posten oder kennt jemand gute, freie Links zu Ortg? Free.edgar gibt es leider nicht mehr.

Gruss

azra

[azra]

Weiß niemand etwas?

[azra]

Ist wohl eine Art Selbstgespräch. Habe gesehen, dass es bei Reuters etwas neues gibt.
Hat jemand die Infos bereits?

Wozu der ganze Aufwand bei einer Marktkapitalisierung von wenigen Tausend Dollar?!

[azra]

Finger weg von den Reuters-Reports vom 20.01. und 25.01.05. Letztes Zahlenmaterial über Orionn ist vom 30.09.01!!!
Selbst über die Zsammensetzung der Unternehmens erfährt der Leser nichts aktuelles.

Wobei feststeht, dass TVS nicht mehr zu Orion gehört... sondern zu Honeywell. Nicht mal das findet man dort wieder.

Reine Verarsche, spart Euch das Geld.

[azra]

Hat jemand neuere Informationen als das hier:


MANAGEMENT`S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS


Certain statements made by our management may be considered to be "forward-looking statements" within the meaning of the Private Securities Litigation Act of 1995. Forward-looking statements are based on various factors and assumptions that include known and unknown risks and uncertainties. The words "believe," "expect," "anticipate" and "project," and similar expressions identify forward-looking statements, which speak only as of the date the statement was made. Such statements may include, but not be limited to, projections of revenues, income or loss, expenses, plans, as well as assumptions relating to the foregoing. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future results could differ materially from those described in forward-looking statements as a result of the risks set forth in the following discussion, among others.

Our financial statements have been presented on a going concern basis, which contemplates the realization of assets and settlement of liabilities and commitments in the normal course of business. We have experienced losses since our inception, currently have a significant working capital deficit, and are in the need of additional capital investment. Our auditors have included a fourth paragraph in their Report of Independent Certified Public Accountants, drawing attention to factors which raise substantial doubt about our ability to continue as a going concern. We are hopeful that, with our recent acquisition of the business assets of erbia Networks and the disposal of EZ and EPS that our operating results will improve. However, there can be no assurances that positive results will occur. We may continue to experience adverse results of operation in the future, and may not be able to satisfy our current obligations in the normal course of business or obtain additional investment capital on terms acceptable to us, or at all.

Our common stock is traded on the OTC Bulletin Board, a service operated by the Nasdaq Stock Market, Inc. under the trading symbol "ORTG".

OVERVIEW OF OUR BUSINESS AND RESULTS OF OPERATIONS

Our focus is on providing telecommunications services and electronic commerce (point of sale) equipment. In December 1999, we formed Globalinx, a wholly owned subsidiary that is concentrating on providing integrated telecommunications services, including the resale of long distance telephone time and in March, 2000 we acquired Special Accounts Billing Group, Inc., a Company owning FCC state certification licenses throughout the United States. In May 2001, we entered into a lease purchase agreement with The Willis Group, Inc. of Houston, Texas, for a Siemen`s DCO/CS tandem switch, which used to be collocated in space provided by AT&T Local Services at the World Trade Center in Manhattan, New York. The switch was destroyed in connection with the terrorist attack on the World Trade Center on September 11, 2001. We are negotiating with the lessor to replace this switch that was destroyed with a comparable switch located in Florida with application of previous payments against the purchase of this replacement switch. The switch facility, if obtained in Florida, will allow Globalinx to offer facility based enhanced telecommunications solutions for our commercial and residential customer base and expand our network operations to include wholesale, pre-paid and existing post-paid services. We believe that should we be successful in completing our negotiation and the replacement switch becomes operational multiple global carriers will be connected to the switch.

Effective September 30, 2001, the Company purchased the majority of the operating assets and assumed certain liabilities of erbia Networks, Inc. and related companies. This acquisition substantially increases the customer base for Globalinx products. Founded in 1998, erbia Networks provides long distance services to more than 20,000 small office/home office (SOHO), small-to-medium enterprises and high-value residential customers nationwide. It also possesses a sizable agent base and customer care call center in Margate, Florida. By merging the management teams and resources of Globalinx and erbia Networks, Globalinx expands its customer service capabilities and breadth of services offering to customers worldwide. erbia Networks provides long-distance services to more than 20,000 customers. Should we be successful in completing our

negotiations for a replacement switch and with our acquisition of erbia Networks, we would consider ourselves to be a facilities based reseller of bundled telecommunications services, including long distance time.

RESULTS OF OPERATIONS - THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2001 AND 2000

We experienced net losses before discontinued operations for all of the three and nine months months ended September 30, 2001 and 2000.

Three Three Nine Nine months months months months ended ended ended ended September September September September Net loss from operations $ (365,378) $ (4,105,345) $ (1,148,566) $ (5,680,776) Net loss per common share (0.06) (0.89) (0.19) (1.37)

The loss for the three and nine months ended September 30, 2001 was caused primarily by operating losses we incurred in our Globalinx subsidiary and costs related to corporate administrative charges, which included a non-cash charge of $109,000 recorded in connection with the issuance of 100,000 shares of common stock issued to a consultant in exchange for services received. We acquired TVS on September 30, 2000, and as such the results of TVS is not included in our operations during 2000.

We anticipate that the September 2001 acquisition of the operating assets and customer base of erbia Networks will enable us to add product offerings and services that are in our areas of focus, and will contribute both revenues and cash flows once fully integrated and operational.

Due to the recent acquisition of the operating assets of erbia Network, and the discontinuance of our European operations, we believe that our current operations are not indicative of our future operations. It is difficult for us to predict what those operations will consist of, since we are in the process of refining our focus and building our Company. Our current focus includes additional acquisitions, all of which would be subject to the Company being able to obtain financing on acceptable terms.

REVENUES

Our revenue from continuing operations for the three and nine months ended September 30, 2001 were as follows.

Three Three Nine Nine months months months months ended ended ended ended September September September September Sale of TVS products $ 503,034 $ 421,834 $ 1,586,529 $ 421,834 Sale of services by Globalinx 1,021,263 155,505 1,371,031 360,141

$ 1,524,297 $ 577,339 $ 2,957,560 $ 781,975

Included in the sale of services by Globalinx are the sales of erbia Networks, Inc. since July 1, 2001. Sales generated by EZ totaling $80,340 the nine months ended September 30, 2000 are included in discontinued operations.

COST OF REVENUES

During the three and nine months ended September 30, 2001 cost of services provided and goods sold were as follows.

Three Three Nine Nine months months months months ended ended ended ended September September September September

Cost of sale of TVS products $ 217,903 $ 191,482 $ 700,045 $ 191,482 Cost of services by Globalinx 531,085 154,659 767,448 337,478

$ 748,988 $ 346,141 $ 1,467,493 $ 528,960

Costs we incur related to the sale of point of sale security products by TVS consist primarily of material and labor costs incurred in producing the products. Gross margins at TVS are relatively stable at approximately 50%, and are expected to remain at this level in the future. Our cost of the services provided by Globalinx consists primarily of the cost of long distance services we purchase. We believe that, as our customer base increases and our revenues grow, our costs will increase. However, as our customer base expands and we diversify our product offerings, we expect to experience an improvement in our overall gross margin.

SALES AND MARKETING

During the three and nine months ended September 30, 2001, we incurred sales and marketing costs in both our Globalinx and TVS subsidiaries totaling $264,009. We did not incur any costs for sales and marketing during the nine months ended September 30, 2000. We anticipate that we will incur increased sales and marketing costs in these subsidiaries as we introduce new products, expand our markets and integrate acquisitions, like erbia Networks, into our business.

GENERAL AND ADMINISTRATIVE

During the three and nine months ended September 30, 2001 we incurred general and administrative expenses totaling $741,439 and $1,791,678, respectively, compared to general and administrative expense we incurred totaling $846,263 and $1,966,697 for the three and nine months ended September 30, 2000. We also incurred non-cash general and administrative expenses for the nine months ended September 30, 2001 and 2000 of $109,000 and $3,315,000, respectively, related to the issuance of shares of our common stock and options to certain employees and consultants. We expect general and administrative expenses to increase in the future as our operating expand. General and administrative expenses for the nine months ended September 30, 2001 and 2000 were as follows:

Orion Technologies $ 575,683 $ 1,367,436 Globalinx 645,020 337,599 TVS 570,975 261,662

$ 1,791,678 $ 1,966,697

AMORTIZATION AND DEPRECIATION

Amortization and depreciation expense was $404,448 for the nine months ended September 30, 2001, and relates primarily to the amortization of goodwill and other intangibles we recorded in connection with our acquisitions of erbia Networks, Inc, TVS and SABG. Amortization and depreciation of $191,486 for the nine months ended September 30, 2000 was related primarily to the impairment of goodwill when Hancock Holdings.

We recorded approximately $1,570,000 of additional goodwill on June 30, 2001 in connection with our acquisition of the operating assets of erbia Networks. We plan to complete additional acquisitions in the future we anticipate that some, or all of these acquisition could result in us recording additional goodwill.

The issuance of Financial Accounting Standards Board Statement of Financial Accounting Standards No. 142 (SFAS 142), "Goodwill and Other Intangible Assets" in September 2001, will impact the amount of goodwill amortization recognized in future periods. Effective July 2001, goodwill related to new acquisitions will not be amortized. but will instead be reviewed at least annually for impairment. With respect to goodwill and intangible assets acquired prior to July 1, 2001, we may elect to adopt SFAS 142 effective either January 1, 2002 or January 1, 2003. Due to the complexity of this new standard and its recent issuance, we are evaluating whether to adopt SFAS 142 effective January 1, 2002. This election must be made prior to the issuance of the Company`s financial statements for the quarter ending March 31, 2002. Upon adoption of SFAS 142, goodwill related to purchase acquisitions which occurred prior to July 1, 2001 will no longer be amortized, but instead reviewed at least annually for impairment.

INCOME TAXES

There was no provision for federal or state income taxes for the period from our inception due to our operating losses. At September 30, 2001, we had net operating loss carryforwards for income tax purposes. A valuation allowance has been established and, accordingly, no benefit has been recognized for our net operating losses and other deferred tax assets.

LIQUIDITY AND CAPITAL RESOURCES

During the nine months ended September 30, 2001, we raised $149,560 from the sale of 569,000 shares of our common stock.

Our line of credit, available for use exclusively by TVS, for up to $100,000 expired on September 30, 2001 and was terminated on July 31, 2001. At June 30, 2000, we had drawn approximately $35,000 under this line of credit. Repayment of this line of credit is guaranteed by certain current employees and former stockholders of TVS. In connection with the termination of this line of credit we agreed to repay the bank the $35,000 outstanding at that time in monthly installments of $6,000 over a six month period. The amount outstanding on the line of credit as of September 30, 2001 is $23,000.

Net cash provided by operating activities for the nine months ended September 30, 2001 totaled $68,949. Cash was provided by our operations primarily as a result of our net loss adjusted for an increase in accounts payable and accrued liabilities, and non-cash items, which include depreciation, amortization and non cash compensation.

There were no material investing activities during the nine months ended September 30, 2001.

We expect to increase our capital expenditures and enter into lease commitments in the future consistent with our anticipated growth in operations, infrastructure and personnel.

Net cash provided by financing activities was $26,624 during the nine months ended September 30, 2001. We sold 569,000 shares of our common stock for $149,560, borrowed $50,000 and made payments on our line of credit, long-term debt, and capital lease obligation.

Our financial statements have been prepared on a going concern basis, which contemplates the realization of assets, and the satisfaction of liabilities in the normal course of business. Our auditors have included in their Report of Independent Certified Public Accountants a fourth (explanatory) paragraph drawing attention to factors that raise substantial doubt about our ability to continue as a going concern. We have experienced net losses since our inception, currently have a significant working capital deficit, and are in immediate need of additional investment capital in order to continue our operations.

Although we are hopeful that operating results will improve, there can be no assurances that positive results will occur. We may continue to experience adverse results of operation in the future, and we will not be able to satisfy our current obligations in the normal course of business or obtain additional investment capital on terms acceptable to us, or at all. We believe that without additional investment capital we will not have sufficient cash to fund our planned activities in the near future, and we will not be able to continue operating. As such, our continuation as a going concern is dependent upon our ability to immediately raise additional financing followed by the successful development and introduction of our products and services to market. Our anticipated cash flows from our 2001 operations is largely dependent upon our ability to achieve our sales and gross profit objectives from our current products and the new products we launched in 2001 in connection with our acquisition of erbia Networks. These factors among others may indicate that we will be unable to continue as a going concern. We are actively pursuing additional equity financing to provide the necessary funds for working capital. We cannot be assured that we will be able to secure the needed funds or that should we be able to obtain these funds, that they will be on terms acceptable to us.

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Gruss

azra

[TheWind]

Hi azra,

will Dein Selbstgepräch mal um eine weitere Stimme erweitern. Mehr als "Danke" für Deine Mühen kann ich aber auch nicht sagen - ORTG wird zwar noch geführt (PK), aber mehr hört, sieht und erfährt man nicht. Ich jedenfalls nicht.

good luck!