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Amnis Systems
(OTC BB: AMNM): Attention Bargain Hunters |
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Over the past two months I have received
dozens of emails from members on Amnis Systems, one of my poorest
performers in an otherwise stellar year.
We had a nice run with this stock
for the first thirty days. It was $.07 in early June when I first
wrote about it, and doubled by the end of the first week of July.
Despite some reasonable fundamental
announcements, it's been all downhill from there as far as the stock price
is concerned. Most of the excess supply has come from institutional investors
who helped the company meet its capital needs.
I have been counseling those who
emailed me individually that there was a possibility the company would
not survive. Therefore, I told everyone if you couldn't handle the risk,
sell the stock and move on.
Today, with the announcement that
came out late in the day, the picture has changed. Today's announcement
merely sets the Thanksgiving table for the feast to come. Events over the
next few weeks will shed some light on the last steps the company is making
to give it the best opportunity to execute a successful turn around.
From here forward Amnis has
a real shot of becoming a very prosperous company.
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Steve
Peltier Takes Over As CEO |
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Today Amnis announced that
Steven
Peltier has been appointed as Chief Executive Officer of
Amnis Systems.
This is welcome news for shareholders. Mr. Peltier has an outstanding
resume.
Peltier was the CEO of a company
named ICS/Advent. Peltier took the company over in 1987.
In the early 90s it was acquired by Dynatech, an NYSE traded company. Over
the course of about 10 years, Peltier took the ICS/Advent Dynatech subsidiary
to $100 million in sales from a stand still. Dynatech was the target
of a hostile take over, and his division was valued at about $120 million
during the process.
When new management took over Dynatech,
Peltier
chose to retire, and has been living comfortably in Paris ever since. Peltier
has come out of retirement and taken over the day to day operations of
Amnis.
He plans to guide the company to a higher and more robust level.
I believe this is the first in a
series of positive developments that will be coming to light between now
and year's end. 2004 will portends to be a major transformation year for
the company.
The chart I have provided shows how
the stock has traded since the turnaround process began last May. As I
stated above, the stock did fairly well into mid July, and has been declining
ever since.
I feel the stock will now turn back
up. I don't believe it will rocket up the charts, as there is probably
still some supply associated with the recent financings. However, I believe
a rebound into the $.05 range over the near term is in the cards. Look
for this troubled situation to get moving in the right direction from here
forward, with $.05 as the first stop.
Here is the complete text of today's
press release for your review:
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Amnis Systems
Announces the Appointment of Steven Peltier as Chief Executive Officer
PR Newswire via COMTEX
Nov 13, 2003 3:18:05
PM
PALO ALTO, Calif., Nov
13, 2003 /PRNewswire-FirstCall via Comtex/ --
Amnis Systems Inc. (OTC
Bulletin Board: AMNM), a leading global provider of networked streaming
video systems, has announced today the appointment of Steven Peltier as
Chief Executive Officer and Member of the Board of Directors.
'I look forward to joining
the Amnis Systems team,'said Peltier. 'The customers and resellers are
all first rate. I look forward to working with each of them to ensure that
we continue to meet their needs. Amnis Systems has excellent products and
a great team of people. We will continually push the envelop on innovation
and service to ensure the satisfaction of our valued customers and business
partners.'
Prior to joining Amnis
Systems, Mr. Peltier was the co-Founder, President and CEO of ICS/Advent
Corporation, a developer and manufacturer of computing platforms used in
telecom, data-acquisition and industrial automation applications. Mr. Peltier
was responsible for taking the company from a ground level start-up to
sales in excess of $100 million, making them the third largest supplier
of industrial computers in the world. 'I see many similarities between
ICS/Advent and Amnis Systems,'said Peltier. 'ICS/Advent was a company that
had excellent products but required focused leadership in sales and marketing.
When we provided that leadership, the company skyrocketed.'Mr. Peltier
personally directed the development of a worldwide sales organization that
included multiple integration facilities and offices in 23 countries. Prior
to ICS/Advent, Mr. Peltier was the CFO of the Sickels Group and a C.P.A.
with KPMG Peat Marwick. Mr. Peltier holds a Bachelor of Science Degree
from San Diego State University.
In the past six months,
Amnis Systems has launched new products and has expanded its sales channel
in Europe and the Far East. The company recently announced sales of its
award winning NAC product line to companies such as Boeing, Best Buy, Northrop
Grumman and Hughes Network Systems. 'We have made excellent progress in
all areas of the organization,'said Scott Mac Caughern, Chairman of the
Board of Amnis Systems. 'Under the leadership of a seasoned executive such
as Steven Peltier, our organization will be able to achieve a whole new
level of excellence. We are fortunate to have an individual of his caliber
to lead our team.'
About Amnis Systems Inc.
Amnis Systems Inc., which
acquired Optivision, Inc. in 2001, is the market leader in the networked
streaming video market. The company develops, manufactures and delivers
MPEG network video products for high-quality video creation, management
and distribution worldwide both directly and through leading industry partners.
Based in Palo Alto, California, Amnis Systems products are used in diverse
applications such as such as surveillance, distance learning, content distribution,
corporate training, telemedicine, video-on-demand and high-quality video
conferencing. To find out more about Amnis Systems Inc., visit our website
at www.amnisinc.com or phone 1-800-239-0600. Amnis Systems is not affiliated
or related to Amnis Corporation of Seattle, Washington.
'Safe Harbor'statement
under the Private Securities Litigation Reform Act of 1995: This release
contains forward looking statements that are subject to risks and uncertainties,
including, but not limited to, the impact of competitive products and pricing,
product demand and market acceptance, new product development, reliance
on key strategic alliances, availability of raw materials, the regulatory
environment, fluctuations in operating results and other risks detailed
from time to time in the company's filings with the Securities and Exchange
Commission. Our forward looking statements are based on currently available
information which management has assessed but which is dynamic and subject
to rapid and even abrupt change due to risks and uncertainties that affect
our business, including the unpredictability of future revenues and limited
visibility into future demand on which to base our forecasts; the current
uncertainty in our marketplace which may impact expected demand, customer
selection criteria and sales cycle; our ability to execute on product deliverables
and major customer contracts, slower economic growth generally, slower
adoption of broadband technology, or cutbacks in information technology
spending; and factors beyond our control such as power outages or work
stoppages at key customers.
Contact Information:
Scott Mac Caughern Amnis Systems Inc. 650-855-0209 smac@amnisinc.com
SOURCE Amnis Systems
Inc.
Scott Mac Caughern of
Amnis Systems Inc., +1-650-855-0209, or smac@amnisinc.com
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