(NEW YORK)–Hammer Fiber Optics Holdings Corp (OTCQB: HMMR) reports earnings that shows company moving towards becoming profitable.
– Total revenues for the quarter increased to $1,071,212 from $56,550, a 1894% increase versus the same quarter in the prior year.
– The net loss from operations for the quarter decreased to $77,883 from $1,019,505, a 93.4% decrease versus the same quarter in the prior year.
– The company attended a number of high profile events during the period, including Mobile World Congress in Barcelona, the Pacific Telecom Council and a number of other carrier industry events which contributed to $83,889 in extraordinary marketing expenses.
– 1stPoint Communications, Endstream Communications, Open Data Centers and Shelcomm are consolidated and accretive to Hammer’s Q3 results
– The announcement of our market deployments in Huntsville, AL, Homewood and Birmingham, AL, Sierra Leone and various Caribbean markets
– The progression of the construction of our networks in Sierra Leone and Dominica
– Recent enhancements to the SMS/Messaging network and increased international coverage
“During the second and third quarter Hammer executed on its plans and demonstrated its commitment to the Everything Wireless strategy,” said Mark Stogdill, Hammer’s founder and CTO. The strategy consists of four pillars: high speed fixed wireless technology using Hammer’s patented AIR™ technology (“wireless fiber”), mobility, OTT technology including SMS messaging, and Smart City. The underlying platform of Everything Wireless is Hammer’s wholesale voice and wholesale SMS networks and its data center hosting facilities. “Because of the unparalleled range and speed of Hammer’s AIR Technology and its ability to operate across a very wide range of frequencies, Hammer is uniquely positioned to provide high speed services in markets where other technologies are inefficient,” added Stogdill.
Hammer Fiber Optics Holdings Corp. (OTCQB:HMMR) is a telecommunications company investing in the future of wireless technology. Hammer’s “Everything Wireless” go to market strategy includes the development of high-speed fixed wireless service for residential and small businesses using its wireless fiber platform, Hammer Wireless® AIR, Over-the-Top services such as voice, SMS and video collaboration services, the construction of smart city networks and hosting services including cloud and colocation.
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