Mar
7
Wireless Communication
Filed Under Communication Services
Who? WebTech Wireless, Inc. (Symbol: CA:WEW)
It’s a communication company that offers wireless services such as GPS fleet tracking, navigation, internet services, etc. They utilize the technologies of GPS and wireless communications to deliver data services to fleets and motorists that WebTech has named the “Quadrant TM System”. They have developed and manufactured a Wireless Vehicle Services Solution that integrates GPS, wireless technologies and the Internet to seamlessly unify back office data and fleet operational data (location, performance, communications & activity). With WebTech’s Wireless Fleet Services, any fleet manager can track and communicate with their fleet and receive localized services such as navigation and emergency alerts. (Sources: their website and Directions Magazine)
Really, huh?? Yupp, they are even expanding globally to North America, Europe and the Middle East and serving fleets in over 37 countries.
Not bad. What else do you know about this company?
In March 2003, Land Air Express, one of North America’s leading full service expedited carriers serving 15 states and Canada, selected WebTech’s Quadrant System to achieve real-time monitoring of its fleet. The switch to WebTech’s “always-on” GPRS based system from a satellite-based system has driven down operating costs for Land Air and enhanced customer service for the cross-border business of Land Air’s Canadian based operator.
In July 2003, they were selected by STS LLC, a wholly owned subsidiary of Dycom Industries, Inc (NYSE: DY), to deploy wireless fleet management services and enhance customer service with real-time reporting. STS is one of North America’s oldest provides of underground utility location services.
Impressive. Now Let’s talk about numbers. How was their performance in the last fiscal year 2004?
They were saying at the end of fiscal year (July 31st, 2004), the revenue increased by 92% compared to the previous year, subscriber revenue has also increased – 183% over the previous year, and total revenue has increased as well from 20.7% to 30.6%. They closed a $2.75 million equity financing, owns ZERO debt, a $500,000 line of credit ($0 drawn to date), and $15 million of cash in their balance sheet.
Currently they’re traded at 73 cents/share. There are three financial firms (Clarus Securities Inc., Acumen Capital Partners, and Toll Cross Securities Inc.) recommending BUY for this stock and predicting the price is going to hit $1/share sometime this year.
Since being traded at around 60 cents/share, the stock has been fluctuating a lot – dropped to around 45 cents/share, but then it was slowly getting up and hovered over at 80 cents/share. Even the volume has slowly been showing an increase since May 2004.
They’ve also recently announced that Motabei Electronics System Co. Ltd., a major application service provider in Saudi Arabia, has agreed to purchase Cdn$2.2 million in WebTech products and monthly subscriber services over a two year period from them. The agreement was made through WebTech Middle East LLC.
So, what do you think? At 73 cents/share, they’re close to hitting $1/share 
Better make your decision quick, guys! Time is money!
Quote of the Day:
A man’s true wealth is the good he does in the world. – Mohammed
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Millennium Plus gps system units are a mobile tracking device, stealthily secured inside a vehicle, motorcycle etc, that enables you to monitor and control many vehicle features. Employing a constellation of satellites, and patented microburst technology – you interface with your vehicle anytime via the Internet, or access reporting and alert functions by email, cell phone, or pager! http://www.gpsglobal1.com
Hey everyone! Cool site! The customer support seems good and the technology jobs are endless. Maybe I will have a better directmatch searching for human resources
since my keyword “customer care jobs” did not fit as intended.
Glad I found you! Keep on keepin on!