Poynt is on two major TV coverages today. One is Arena Cross where Jeff Gibson on the Poynt Team is racing, the other Mike Wallace is qualify the #37 Poynt car for next weekends Daytona 500.
Mike and the Poynt team have their work cut out for them, they are in the Go or Go Homers. I have heard conflicting information there are either 2 or 3 spots open for the top 2 or 3 fastest out of this group who have to place to race. Fingers crossed here !!
They didn't secure a place in the Daytona 500 via time trials today. They will have to earn it in the race Thursday at the Gatorade Duels, failing that they won't be in the 500.
Here is a pic of the #37 Poynt car with Mike Wallace at the wheel :
http://www.zimbio.com/pictures/R5qmMaeyF25/Daytona+500+Speed+Week+Day+2/vbF8JLlVRp0/Mike+Wallace
Las Vegas, NV - 3/10/2012
By Andy Marquis
19 year-old NASCAR Sprint Cup Series rookie Timmy Hill, from Port Tobacco, qualified for Sunday’s Kobalt Tools 400 at Las Vegas Motor Speedway. His 29.53 second, 182.877 mph lap around the mile and a half racetrack was enough for him to make the field.
“We made the race,” Hill said. “I will make my first Sprint Cup series start this weekend at Vegas! I’m so proud of everyone & thanks Poynt for all the support. Everyone at Rick Ware Racing should hold their heads high because all the hard work has paid off. I can't wait to race on Sunday.”
Despite being 41st in qualifying, Hill was sent home at Phoenix International Raceway because the cars he out-qualified were locked in to the race by virtue of finishing in the top 35 in Sprint Cup points last year, or buying points from other teams that no longer compete. In the first five Sprint Cup races, the top 35 teams in owner’s points from the previous year are locked in. However, teams can swap points or buy points from other teams, a process that locked Danica Patrick in to the Daytona 500.
Once the series rolls in to Martinsville Speedway in Virginia for the Goody’s Fast Relief 500 on April 1st, the rules change and the top 35 in owner’s points from this season will be locked in. The goal for Hill is to get the car in the top 35 in points so he does not have to worry about qualifying the car in on time.
Hill will attempt to make the remainder of the NASCAR Sprint Cup Series races with his official debut taking place on Sunday at the 1.5 mile Las Vegas Motor Speedway, the track that claimed the life of last year’s Indianapolis 500 winner Dan Wheldon last fall in an IZOD IndyCar Series race. In the 14 previous Sprint Cup races that have been run at Las Vegas, no driver has ever scored their first career victory at Las Vegas and the only driver to win in their first start at Las Vegas was Mark Martin in the inaugural race in 1998.
Sunday’s Kobalt Tools 400 can be seen Sunday afternoon on FOX at 3:00pm EST. Hill will start 42nd. Kasey Kahne will lead the field to the green flag.
Poynt Platform to Integrate Ortsbo, Share Advertising Resources and Investigate Additional Opportunities for Monetization and Collaboration; Intertainment Media to Provide Poynt with $1.5 million in Debt Financing
CALGARY, ALBERTA and TORONTO, ONTARIO--(Marketwire - March 15, 2012) - Poynt Corporation (TSX VENTURE:PYN) (OTCQX:PNYTF) ("Poynt Corp." or the "Company"), Intertainment Media Inc. (TSX VENTURE:INT) (OTCQX:ITMTF) (FRANKFURT:IT4) ("Intertainment") and Ortsbo Inc., a subsidiary of Intertainment Media Inc., today announced that they have finalized a joint venture (the "Joint Venture" or "JV Agreement") agreement. The JV Agreement provides for the integration of Intertainment's real-time experiential language platform, Ortsbo ("Ortsbo" or the "Ortsbo Platform"), into the Poynt platform ("Poynt or the "Poynt Platform"). The parties also undertook to explore the mutual exchange of advertising inventory and investigate additional opportunities for monetization of both the Poynt Platform and Intertainment's other platforms.
Under the JV agreement, Poynt Corp. has undertaken to integrate Ortsbo, initially as an available item on the Poynt carousel, into the Poynt Platform and provide Intertainment with reciprocal access to, and use of, its advertising inventory. The JV will also investigate complementary revenue generating opportunities, including additional real-time experiential translation opportunities, and the integration of Intertainment's Ad Taffy click-to-call technology.
The JV Agreement provides that the gross revenues generated from the integration of Ortsbo experiential translation functionality and the reciprocal exchange of ad inventory will be shared equally between Poynt Corp. and Intertainment. Other revenues to be included and shared will be determined as opportunities arise.
Additionally, Intertainment has agreed to provide Poynt Corp. with secured debt funding (the "Facility") in the amount of one and a half million Canadian dollars (CAD $1,500,000) in order to facilitate, among others, the integration of Ortsbo and the ad inventory into the Poynt Platform, as well as for general working capital purposes. The Facility will be secured by a first priority lien against the Company's assets and will bear a pre-default annual interest rate of 8%, maturing on June 29, 2012. The Facility is subject to the approval of the TSX Venture Exchange Inc. ("TSXV").
Subject to TSXV approval, the Company has agreed, concurrently with funding of the Facility, to issue 6,000,000 non-transferable share purchase warrants (the "Warrants") to Intertainment, with each Warrant entitling the holder to acquire one common share of Poynt Corp. at an exercise price of
.115 per share. The Warrants will expire on the earlier of the date the Facility is repaid pursuant to its terms and five years from the date of issuance. The Warrants and any common shares issued on exercise of the Warrants will be subject to a four-month hold period commencing, in each case, on the date of issue of the Warrants.
As one of the directors of Poynt Corp. is an officer and director of Intertainment Media, Multilateral Instrument 61-101 requires Poynt Corp. to obtain minority approval and a formal valuation for the Facility and the issuance of the Warrants unless an exemption from the minority approval and valuation requirements is available. Such an exemption is available to the Company as at the time the transaction was agreed to, neither the fair market value of the Facility, nor the fair market value of the Warrants, exceeded 25% of Poynt Corp.'s market capitalization.
"Providing users with an immersive local experience has always been important to Poynt Corp. and the integration of Ortsbo will allow Poynt users to have translation capability within the application in real-time in the language of their choice," said Andrew Osis, CEO of Poynt Corp. "Intertainment has been an industry leader in real-time translation and we are excited to pursue additional opportunities."
"The Ortsbo real-time experiential language technology when combined with Poynt will provide an unmatched local service offering on a global basis, truly allowing consumers to increase their utility within each platform" said David Lucatch, CEO, Intertainment and Ortsbo. "We are excited to see what new innovations can be created through this strategic partnership."
Poynt has been busy, they have added Restaurant table booking capabilities in France and Spain, cheap Gas vertical in Canada as well as mobile menus and food ordering in the USA. They have also inked a deal to ad translation to the app as well as one convenient login for Poynt users to access all popular social mobile media, Facebook, Twitter and more in 53 languages ( seamlessly the other social media users don't need to do anything ). This also adds another user base to Poynt's reach by integrating Ortsbo and Ortsbo's users.
http://www.poynt.com/investors/news-releases/
More to come.
Poynt Corporation Reports Full Year 2011 Results
CALGARY, ALBERTA -- (MARKET WIRE) -- 04/30/12 -- Poynt Corporation (TSX VENTURE:PYN) (OTCQX:PNYTF) ("Poynt Corp." or the "Company"), a global leader in mobile local search and advertising, today reported results for its fourth quarter and fiscal year ended December 31, 2011. All figures below are in Canadian dollars.
Q4 2011 Operational Highlights
-- The Company's mobile local search and advertising platform, Poynt
("Poynt" or the "Platform"), surpassed 12.4 million unique users
representing 154% growth year over year
-- Launched timesPoynt in India, a co-branded platform that merges the
Poynt Platform's mobile local search capabilities with timesCity.com
content and advertising network
-- Signed agreement with Nokia to preload timesPoynt on all Nokia Lumia 710
and Nokia Lumia 800 smartphones sold in India
-- Launched global on-device offering with Samsung to position Poynt on all
Samsung GALAXY devices
Full Year 2011 Results
Revenues increased 139% to $2.4 million from $1.0 million in 2010. This improvement was primarily due to the continued global increase in Poynt user adoption.
Net loss for 2011 was $20.5 million or $(0.05) per basic share, compared to a net loss of $16.9 million or $(0.07) per basic share in 2010. This loss is comprised of $5.8 million of non-recurring items. Adjusting for this, the loss is $14.7 million, which was in line with expectations. The increase was primarily due to the significant investment of Company resources in the development of the China Joint Venture. Other expenses included continued engineering of the Poynt platform and additional marketing initiatives that address growth opportunities in global geographies and to increase advertising within the Poynt platform.
The 2011 net loss also included $6.3 million of non-cash items comprised of $2.7 million of amortization and depreciation, $1.4 million related to impairment and losses on assets and $2.0 million of stock-based compensation and $0.2 million on onerous leases and other. This compares to $10.0 million of non-cash items in 2010 which were comprised of $2.2 million of amortization and depreciation, $7.2 million related to impairment of assets from adoption International Financial Reporting Standards and $714,000 of stock-based compensation. After adjusting for these non-cash items, 2011 net cash loss was approximately $14.2 million, compared to $6.9 million in 2010.
Poynt User Stats
Total unique users increased 21% sequentially to 12.4 million from 10.2 million in the previous quarter, and increased 154% from 4.9 million in 2010. As of April 30, 2012 the Platform's unique user base exceeds 15.4 million. Poynt Corp.'s revenue model includes user queries, page views, display advertising and transactions within the Platform, with user growth a key metric that drives the Company's revenues. Each user query generates several page views, which are monetized through display advertising and sponsored listings paid for by our advertisers. These advertising placements generate revenues on a cost per thousand impressions, or CPM, basis or on a cost per click, or CPC, basis. Transactions, such as ticket sales and restaurant reservations, also contribute to revenues on a fee for service basis.
Management Commentary
"In 2011, we achieved record revenues, more than double over 2010, which was driven by increased user adoption and our monetization efforts," said Andrew Osis, CEO, Poynt Corp. "In fact, we added more than 7.5 million users in 2011, and through our partnership with timesCity (Times Internet Limited of India), we expanded into India, one of the largest mobile markets in the world."
Mr. Osis continued, "Entering 2012, we continued to experience tremendous user adoption across multiple platforms and geographies, especially in India, where timesPoynt has seen a 766% increase in unique users since the beginning of the year. This adoption rate clearly reflects our focus on expanding Poynt's feature set with user relevant content, as well as adding engaging capabilities that promote daily use. Our global user growth has in part been driven by greater awareness of the Poynt brand resulting from our targeted marketing efforts and on-device offerings."
"Through both geographic expansion and new preload agreements, our position in the mobile application space is strengthening. We expect to exceed 40 million users by the end of 2012, including 20 million new users from our China Joint Venture." Mr. Osis concluded, "We expect this scale to broaden our revenue streams and allow us to target a cash flow positive state by year's end, which could be further strengthened by the initial monetization of our expanding IP portfolio. Additionally, the Company expects to issue an update with respect to activities relating to the China Joint Venture in the near future."
Conference Call
Andrew Osis, CEO, Poynt Corp., will host the presentation followed by a question and answer period.
Date: Tuesday, May 1, 2012
Time: 10:30 a.m. Eastern time (8:30 a.m. Mountain time)
Dial-in number: 1-877-941-8416
International: 1-480-629-9808
Conference ID#: 4534715
Please call the conference telephone number 5-10 minutes prior to the start time. An operator will register your name and organization. If you have difficulty connecting with the conference call, please contact Liolios Group at 1-949-574-3860.
To listen to the live webcast please go to http://viavid.net/dce.aspx?sid=000096DD. A replay of the webcast will be made available in due time following the conclusion of the call via Poynt's website at www.poynt.com.
A telephone replay of the call will be available after 1:30 p.m. Eastern time (11:30 a.m. Mountain time) and until June 1, 2012.
Replay number: 1-877-870-5176
International replay number: 1-858-384-5517
Replay PIN #: 4534715
June 05, 2012 08:00 ET
CALGARY, ALBERTA--(Marketwire - June 5, 2012) -
NOT FOR RELEASE OR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION TO U.S. NEWSWIRE SERVICES
Poynt Corporation (TSX VENTURE:PYN)(OTCQX:PNYTF) ("Poynt Corp." or the "Company"), a leading provider of mobile local search and advertising services, today announces that it has terminated its previously announced offering of secured debenture units and announces a private placement of up to 140,000,000 units ("Units") at a price of
.05 per Unit for gross proceeds of up to $7,000,000 (the "Offering"). Each Unit will be comprised of one common share of the Company ("Common Share") and one warrant to purchase a Common Share of the Company ("Warrant"). Each Warrant will entitle the holder to acquire one Common Share at an exercise price of
.10 for a period of twenty-four months from the date of issuance.
The Common Shares and Warrants (including any Common Shares issued on exercise of the Warrants) will be subject to a hold period under applicable Canadian securities laws, which hold period expires 4 months and a day from the date of issuance of the Units.
The Company intends to use the proceeds of the Offering to repay a currently outstanding secured loan, for the deployment of the Company's Poynt local search and advertising platform on additional smartphone devices, promotion and marketing of the Company's products to increase awareness and grow the user base and for general working capital purposes.
The Company expects to complete the Offering, in one or more closings, with the first closing occurring on or about June 11, 2012. The Offering is subject to receipt of all necessary regulatory approvals, including the
I have to agree , there was a time when i had high hopes for this stock but their inability to monetize this product coupled with mismanagement of funds and continued dilution has made this play very unattractive going forward . I wouldn't be at all surprised to see this touch the 1-2 cent range before the summer's over . It might be a buy at those levels but still not without risk .
and POYNT is bankrupt, i knew this stock was bad...but this bad???
Press Release: Poynt Corporation – 6 minutes agoCALGARY, ALBERTA--(Marketwire -07/06/12)- NOT FOR RELEASE OR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION TO U.S. NEWSWIRE SERVICES
Poynt Corporation (PYN.V)(PNYTF) ("Poynt Corp." or the "Company"), announced that today it has filed with the Office of the Superintendent of Bankruptcy, a Notice of Intention to File a Proposal under the Bankruptcy and Insolvency Act (Canada) ("BIA"). As a consequence of such filing, any and all recourses of the Company's creditors are stayed for an initial period of thirty (30) days, which may be extended by the Court of Queen's Bench of Alberta. The Company is not currently in a position to meet the obligations owing to its secured and unsecured creditors and as such, has taken this action under the BIA as the most expeditious and economical manner of addressing the interests of its creditors and allowing it to carry on its operations.
Poynt Corp. expects to file a formal proposal under the BIA, setting forth a comprehensive plan for payment to Poynt Corp.'s creditors in due course. The trustee named in the notice of intention is Hardie & Kelly Inc., of Calgary, Alberta.
In addition, Poynt Corp. has announced that David Lucatch has resigned from his position on the Company's Board of Directors. Poynt Corp. wishes to thank Mr. Lucatch for his service to the Company.
Poynt Corp. has terminated the previously announced private placement.
About Poynt Corporation
Poynt Corp. (www.about.poynt.com) (PYN.V)(PNYTF) is a global leader in the mobile local advertising space. Its Location Based Search (LBS) and advertising platform, Poynt (www.poynt.com), enhances a user's ability to connect with the people, businesses and events most important to them. Poynt is available on Android, iPhone, Windows Phone and Nokia devices, along with BlackBerry smartphones and BlackBerry PlayBook Tablets in Canada, the United States, Europe, India and Australia. Poynt Corp. entered the mobile publishing space with the acquisition of an advertising publishing platform in January 2011. Whether through the Poynt Local Search Platform or the Ad Publishing Platform, Poynt Corp. simplifies connecting consumers with businesses, retailers and events. Headquartered in Calgary, AB, Canada, Poynt Corp. trades on the TSX Venture Exchange under the symbol PYN and in the United States on the OTCQX under the symbol PNYTF.
Reader Advisory: The press release may contain certain forward looking statements which may include plans, expectations, forecasts, projections, guidance or other statements that are not statements of fact, including without limiting the generality of the foregoing, meeting the terms, conditions and approval requirements under the BIA, the effect of the notice of intention under the BIA and the Company's intentions to prepare and file a comprehensive creditor plan. Although Poynt Corp. believes that the expectations reflected in such forward looking statements are reasonable, it cannot give any assurance that such expectations will prove to be correct. The effect of the stay of creditors and the formal proposal are subject to a number of conditions which Poynt Corp. cannot give any assurance that such conditions will be met on a timely basis, or if at all, as certain of the conditions are in the control of other parties. As such, the future plans and objectives of Poynt Corp. are forward looking statements that involve risks and uncertainties that may be based on assumptions that could cause actual results to differ materially from those anticipated or implied in such statements. The foregoing list of risk factors is not exhaustive. Additional information on risk factors is included in other public documents available under Poynt Corp.'s profile on SEDAR. Although Poynt Corp. has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in the forward looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. In making its forward looking statements, Poynt Corp. used, among others, the following material factors or assumptions to develop a forward looking information enumerated above: the protections under the BIA are available to Poynt Corp. and Poynt Corp. will be able to formulate a suitable creditor proposal in the timelines required under the BIA. Poynt Corp.'s forward looking statements are expressly qualified in their entirety by this cautionary statement. Unless otherwise required by applicable securities laws, Poynt Corp. does not intend, nor does it undertake any obligation, to update or review any forward looking statements to reflect subsequent information, events, results or circumstances or otherwise.
The BlackBerry and RIM families of related marks, images and symbols are the exclusive properties and trademarks of Research In Motion Limited. Apple App Store and iPhone are trademarks of Apple Inc., registered in the U.S. and other countries. Windows is a registered trademark of Microsoft Corporation in the United States and other countries. Android is a registered trademark of Google Inc. Nokia is a registered trademark of Nokia Corporation.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
also i was made fun of when i said INT would probably buy these guys out, well it seems it might be closer than some on you thought
Additionally, Intertainment has agreed to provide Poynt with secured debt financing in the amount of $1.5-million to facilitate, among others, the integration of Ortsbo and the ad inventory into the Poynt platform, as well as for general working capital purposes. The facility will be secured by a first-priority lien against the company's assets and will bear a predefault annual interest rate of 8 per cent, maturing on June 29, 2012. The facility is subject to the approval of the TSX Venture Exchange.
Wow , I can't say I saw this coming . I guess my estimate of 1-2 cents was right on the money .......I will admit though that I was thinking at that time that it would be a worst case scenario and now it appears to be a best case scenario at least for the forseeable future . Optimistically with the patents and the number of current users this could still get bought up/out but regardless of what is in store for the future of poynt , it will not end well for those still holding shares at the previous levels . I still had a very small holding that I lost any hope for with the announcement of the PP but now with this latest NR it's a worthless tax write off . The good news for me was that I made a ton of $$ on this initially and only gave a small potion of those profits back .
bankrupt...company is done.
Sad seeing a great product with horrible management. ANdrew Osis made wayyy too many dumb choices...like sponsoring NASCAR???? what a joke of a CEO, im glad i dumped these shares long time ago, i honestly feel bad for ppl who invested here. When you burn over 40 mil and all u have is an app to show for with no rev thats nuts
wouldn't the fact that they do have some good patents and technology make them worth buying from receivership. or would those said technologies be used to pay off creditors?
I think whats going to happen now is auction of their assets/patents and pay their secured lenders off such as INTERTAINMENT...I hope INT snags some of those valuable patents off them, better in the hands of a Canadian company
November 01, 2012 16:00 ET
TORONTO, CANADA--(Marketwire - Nov. 1, 2012) - Intertainment Media Inc. ("Intertainment" or the "Company") (TSX VENTURE:INT)(OTCQX:ITMTF)(FRANKFURT:I4T) the secured lender to Poynt Corporation ("Poynt") announces that on October 31, 2012, Hardie & Kelly Inc. of Calgary, AB were appointed receiver of Poynt and its asset by order of the Court of Queen's Bench of Alberta (http://feeds.mwnewsroom.com/multiplied_media/feed/article?id=1651169). Concurrent with the appointment of the receiver, the Court established a sales process to work towards recovering maximum value for the assets of point.
Intertainment considers that the Poynt application and its assets have significant value well in excess of its secured creditor position of approximately CDN $1.7 Million plus costs and unsecured position of CDN $150,000. In Poynt's last reported unaudited interim financial statements announced on August 29, 2012 for the period ended June 30, 2012, non-cash assets were reportedly valued in excess of CDN $21.5 Million.
Poynt announced on October 9, 2012 that its user base was in excess of 10 Million users on the Android platform alone. On September 17, 2012, Poynt released its new version of its application for iPhone and stated that year over year its unique iPhone user based had growth 132%. On July 31, 2012 Poynt reported that its overall unique user base, at that time, was 17 Million. The Poynt application is actively pre-loaded on new mobile phones with a number of wireless carriers.
In March 2012, after Intertainment provided Poynt with a short term secured loan for CDN $1.5 Million, the parties initiated discussions and development of enhancements to the Poynt application which Intertainment expects, should they be able to be fully implemented and continue to operate, will enhance the value of the Poynt application and create additional revenues for both parties. These include, Intertainment's real-time experiential communications platform, Ortsbo, which offers instant communications in over 65 languages; Ad Taffy, which provides enhanced "click to call" capabilities, integrating actionable content with immediate communications connectivity; Deal Frenzy which offers unique value programs to a growing audience and Intertainment's affinity solutions, including the Sweet Card, which provides pre-paid debit and virtual wallet platforms.
Throughout Poynt's BIA creditor protection process, Intertainment worked diligently with Poynt, its counsel and the Trustee to support the efforts of all parties and their court motions to work towards a solution to see Poynt emerge from creditor protection. Intertainment made the court application to appoint the receiver only after Poynt exhausted all efforts to replace the initially announced loan proceeds of $1 Million on October 15, 2012. These funds were not received and the Court terminated the creditor protection proceedings causing Poynt to become bankrupt.
The Receiver will conduct a sale process of the Poynt assets and Intertainment, if it deems appropriate, will participate alone, or with an appropriate operational partner in the sales process and may entertain offers to sell its secured position, while also looking to maintain a commercial relationship for its products and programs.
About Intertainment - www.intertainmentmedia.com
Intertainment is one of Canada's leading technology incubators and is focused on developing, nurturing and investing in both North American and global technologies and companies that provide technology solutions for brands and consumers alike. Intertainment also owns and operates a number of key properties including Ad Taffy, itiBiti (KNCTR), Ortsbo, Deal Frenzy, The Sweet Card and Magnum, with investments in leading edge technologies and social media platforms including www.theaudience.com. For more information on Intertainment and its properties, please visit www.intertainmentmedia.com.
Intertainment is headquartered in the Toronto, Canada region, with offices in New York, Los Angeles and San Mateo, CA and is listed on the TSX Venture Exchange under the symbol "INT" (TSX VENTURE:INT) and in the US on the OTCQX Market under the symbol "ITMTF". Intertainment is also traded in Europe on the Open Market (Regulated Unofficial Market) of the Frankfurt Exchange through the XETRA trading platform under the symbol "I4T".
Read more at http://www.stockhouse.com/bullboards/messagedetail.aspx?p=0&m=31727638&l=0&r=0&s=PYN&t=LIST#87UzA5xpBpGTtm8z.99
