ACCESS Newswire Inc (ACCS) News & EventsACCSNews & EventsACCESS Newswire Inc

ACCESS Newswire Q2 Non-GAAP EPS 8c vs. 14c Last Year

ACCESS Newswire reports Q2 non-GAAP EPS 8c vs. 14c last year

ACCESS Newswire Revenue Flat, CEO Emphasizes Long-Term Growth

Reports revenue $5.6M vs $5.6M last year. "As we enter the second half of the year, we continue to lay the groundwork for long-term growth at ACCESS. We're encouraged by the momentum from our Social Monitoring platform and Insight & Analytics Report, two new products we released in the last 90 days. As we focus on product innovation, we are on track to release several more product enhancements before year-end. Our sales and marketing efforts are working to turn that innovation into customer and revenue growth in our subscription business," said Brian R. Balbirnie, ACCESS Newswire's Founder and Chief Executive Officer. "We believe we have entered a new phase of the business communications marketplace, as we deliver one of the most comprehensive Investor Relations and Public Relations platforms in the industry. We are confident in our ability to continue strengthening our competitive position. We executed well on our operational goals for this quarter. First, we continued our buyback of common shares, with aggregate repurchases totaling 62,000 for approximately $0.5 million at quarter-end. Second, we increased our investment in sales and marketing this quarter as we believe our industry is positioned for renewed growth and we intend to have the team capture it. Third, we drove operational efficiencies across the business by reducing general and administrative expenses by 23% for the quarter and have implemented initiatives to bring down costs of revenues by approximately $150 thousand in the back half of the year."

Cycurion CEO Reveals Stock Manipulation Incident and Damages Exceeding $30 Million

In a letter to shareholders, CEO Kevin Kelly, said, in part, "I want to share with you some of our current challenges and successes. The past several months have been particularly challenging. We have encountered a highly coordinated adversarial campaign aimed squarely at our company's stock prices and we are taking active measures to put a halt to that activity and to recover our damages...On March 16, an unauthorized and fabricated press release was distributed through ACCESS Newswire falsely announcing a massive fictitious acquisition by Cycurion. What followed was a coordinated manipulation of Cycurion's stock prices, and we have obtained the trading records via subpoenas. Through our lawsuit, which names ACCESS as a defendant and will eventually include the market manipulators, we have obtained records from multiple registered market makers covering trading activity in CYCU. The Short Sale Circuit Breaker triggered immediately as the market opened. At 9:30:01 AM on March 16 - before most investors could take any action - CYCU had already fallen more than 10% from the prior close. This does not happen by accident. Short selling spiked at extraordinary multiples of normal volume. Compared to pre-event daily averages, increases ranged from 33 times to over 180 times above normal daily volume in CYCU. These were pre-positioned, coordinated attacks. Spoofing activity was identified. Records from one market maker show that a third party placed hundreds of orders in CYCU on March 16 with a 100% cancellation rate, executed at nanosecond speeds. This pattern constitutes unlawful spoofing under the Dodd-Frank Act and FINRA Rule 5210 - placing orders with no intent to execute, solely to create artificial price pressure and mislead other market participants. As FINRA itself has stated, spoofing is an insidious form of market manipulation that undermines the transparency and integrity of the markets by distorting the true nature of supply and demand. We want shareholders to understand that what happened to CYCU is not an isolated phenomenon. Courts, regulators, and fellow public companies have been confronting this exact playbook with increasing frequency - and the damages being pursued in these cases illustrate the serious financial harm this conduct causes...We are actively investigating financial institutions and other parties who engaged in these activities. We have issued litigation hold letters and compiled trading evidence. We believe damages from this coordinated campaign could exceed $30M. Despite the external attack on our stock, we continue to build a fundamentally stronger company: We have reduced net debt by over 70% while maintaining solid cash reserves. We have implemented disciplined cost controls focused on profitable revenue. Our acquisitions of Secuvant and Digital Ally's Video Solutions segment are integrating and expanding our AI-powered ARx platform. Significant contract wins, combined with these acquisitions, position us to more than double our company's run-rate revenue while improving margins. The share price has been battered - I acknowledge that. But the trading evidence makes clear that this reflects a coordinated external attack, not our operational fundamentals. We are not alone in facing this - other public companies have fought back and succeeded in court. We intend to do the same."