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When the NXTV IPO came out at $50 to $60 per share it seemed to light a fire under PLNS since the two competed in the old days. And since then NXTV has gone to $150, now at $12 B market cap more than twice AFCI's market cap and just $50M in revenue. So, I agree that as soon as PLNS demonstrates that they can sell their product they should be allowed to join the pantheon of extravagent revenue multiples. But I have not heard any news on PLNS lately, either from old friends or from Press Releases. At the same time, the trade show season with ALTS and Supercomm is coming up in May/June. So maybe there will be news then.
PLNS looks like they are starting an investor road show. The Press Release on the investors conference at Supercomm would seem to be a great place to start. I am hoping that they will be announcing trials for their new product in that time period too. But the rumbling tells me that PLNS is starting into a real product launch for the PLNS-3000. They had a booth at N+I, they had a booth at ALTS and now a press conference at Supercomm. Go PLNS.
DP, Will do. It's looking like a very big show this year. Atlanta is hot and rainy tonight. The show floor opens tomorrow. More then.
But the 1 5/8 pop today feels like someone has already seen/heard whatever news there might be. Let's hope for even more. I have said it for years, Dave Orr is a class act and if anyone can return PLNS to its old glory days, he can. He's been working a two year plan since mid 1998 and now is the time for it to come to fruition. Let's see what he can do. I'm betting on him and the PLNS team.
Cates- any feedback from Atlanta? we are most interested, especially with the recent drop in price since the show. Any logical explanation? Except that maybe the presentation and demonstration didn't go so well?
PLNS was going strong in Supercomm in Atlanta. In fact, the whole show was going strong. For the first time in years there were customers on the floor. And there was lots of exciting new things to see.
While I was at the PLNS booth, I saw several network engineers from CLECs and from small Independents visiting and kicking the tires of the workign Pliant 3000. It looked like they had expanded their sales force again. They had a good size crowd attending from PLNS. And from what the old timers were saying, the product was coming out of the chute after the usual labor pains.
The product was working and demo-ing well in the booth. They had rack mounted versions and cabinet mounted versions. They were showing an end-to-end call using GR-303, which is critical. It sounded like the narrowband version was solid. They were also showing demos of the DSL versions of cards, but it sounded like they may not be customer ready yet.
The biggest thing was the announcement of the Twin Lakes trial. This is a small IOC and is right in the heart of their target market. They all seemed pumped up about being in a customer site again. And although no one talked about other trials, there were plenty of hints that Twin Lakes was not the only one. I hope that their next announcement is a CLEC, since the IOC trial announcement did not seem to be enough to hold the stock price above 8.
So, PLNS seems to have made good on step one of their plan to deliver a product to an attractive, yet rather small market. The team was larger and they seemed very up beat. There were customers in the booth. Now, the next step is to make their trial customers happy and start growing revenues. I continue to believe that PLNS will soon have the same extravagent market cap that other small to medium sized telecomm access companies have. Go PLNS.