Thu, Apr. 2, 9:53 AM
- Elephant Talk Communications (NYSEMKT:ETAK) depositary shares have crumbled, -46.8%, as the company's filed an 8-K saying it can't rely upon a number of past statements, and detailing its restatement.
- Material errors in revenue recognition are leading the company to restate financials from the first three quarters of fiscal 2014, the first three quarters of 2013, and the year ended Dec. 31, 2013.
- Shares slipped Tuesday after the company missed expectations in Q4 revenues.
Tue, Mar. 31, 9:52 AM
- Elephant Talk (NYSEMKT:ETAK) is off 8.5% after its Q4 revenue missed expectations and it started restating past results to reflect a new business model.
- With the company finishing a transition away from its legacy landline business to mobile/security, it's restated past results, and recognizing revenue from the past couple of years over a longer time frame ("a number of years").
- The restatement means that Q4 revenue of $5.5M (-8.8% Y/Y) was up sequentially from $4.4M, and deferred revenue at year's end was $11.2M compared with the prior year's $2.6M.
- Net cash used in operations up to -$2.1M from prior year's -$6M.
- The company noted that its Iusacell contract isn't likely to continue due to Iusacell's new owner AT&T's preference for existing legacy vendors.
- Conference call at 11 a.m. ET.
- Press release
Tue, Mar. 31, 9:29 AM
Tue, Mar. 17, 5:40 PM
- Very heavy volume today drove Elephant Talk (NYSEMKT:ETAK) down 6.8% to make a new 52-week low before shares gained back a couple of cents, following an SEC filing that the firm would be submitting a late 10-K.
- Nearly 736K shares traded hands today compared with average volume of about 218K.
- The company plans to host its year-end call on March 31 at 11 a.m. ET.
- The stock has lost more than 50% of its value in 2015, with a 19.6% decline coming just over the past week.
Thu, Jan. 29, 6:44 PM
- In an SEC filing, Elephant Talk (NYSEMKT:ETAK) notes the resignation of Floris van den Broek as VP of Mobile Platform Activities, and names two co-presidents to the role: current CTO Martin Zuurbier and Armin Hessler.
- Zuurbier gives up his other role as COO; Hessler joins the firm from Vodafone's (NASDAQ:VOD) data-center unit.
- The moves are effective April 1.
Nov. 18, 2014, 8:35 AM
Sep. 15, 2014, 9:15 AM
Aug. 12, 2014, 9:26 AM| Comment!
May. 12, 2014, 7:18 AM| Comment!
Mar. 26, 2014, 12:46 PM
Mar. 26, 2014, 9:10 AM
Mar. 18, 2014, 12:46 PM
Dec. 13, 2013, 9:16 AM
Dec. 13, 2013, 8:22 AM
- Elephant Talk (ETAK) soars 24% after getting a 5-year extension with an existing Mobile Network Operator (MNO) client in Europe. Elephant expects hosting fees to increase approximately 13% on average, per SIM per month, in exchange for improved service levels. Elephant will receive continuous prepayments of about $10M for the duration of the contract.
- Press release
Dec. 6, 2013, 9:14 AM
Nov. 27, 2013, 12:45 PM
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Elephant Talk Communications Corp provides one stop solution for mobile, fixed and convergent telecommunications software services. Through its subsidiary it also provides layered security services for critical applications in the cloud.
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