Niklas Bjorkman wrote: Firstly I agree with your conclusion. NewSQL takes the best of the traditional databases and NoSQL databases to combine the benefits of both worlds. I do not agree that NewSQL vendors focus on giving scale-out features to transactional data. The NewSQL market is focusing on giving true ACID support combined with extreme performance, stepping away from the traditional relational structures in databases. A lot of developers appreciate the ease of accessing data using SQL and I think we will see more and more databases supporting standard SQL.
As you said - NewSQL databases often maintain the...
NextWave Wireless Inc. (OTCQB: WAVE) today announced that it has filed
its Quarterly Report on Form 10-Q with the Securities and Exchange
Commission for the third quarter of fiscal 2012, ended September 29,
2012.
The Form 10-Q is available on the web site maintained by the Securities
and Exchange Commission at www.sec.gov
and on the NextWave Web site at www.nextwave.com
under the heading - Financial Information - SEC Filings. The financial
information accompanying this press release should be reviewed together
with the Notes to Condensed Consolidated Financial Statements,
Management’s Discussion and Analysis of Financial Condition and Results
of Operations and Risk Factors contained in the Form 10-Q.
About NextWave Wireless
NextWave Wireless Inc. is a wireless technology company that manages and
maintains wireless spectrum licenses.
Additional Information
This press release contains forward-looking statements for purposes of
the Private Securities Litigation Reform Act of 1995 that involve risks
and uncertainties. There can be no assurances that forward-looking
statements will be achieved. Actual events or results could differ
materially from the events or results predicted by such statements.
Important factors that could cause actual events or results to differ
materially are discussed in greater detail in the filings of NextWave
with the Securities and Exchange Commission. All such documents are
available through the SEC’s website at www.sec.gov.
NextWave makes no commitment to update any forward-looking statements in
order to reflect subsequent changes in events or circumstances except as
may be required pursuant to applicable law.
NEXTWAVE WIRELESS INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands, except par value data)
(unaudited)
September 29,
December 31,
2012
2011
ASSETS
Current assets:
Cash and cash equivalents
$
5,863
$
11,087
Restricted cash
1,696
1,047
Marketable securities
—
10,000
Prepaid expenses and other current assets
248
827
Current assets of discontinued operations
4,162
3,511
Total current assets
11,969
26,472
Wireless spectrum licenses, net
431,397
435,522
Property and equipment, net
721
1,313
Other assets
50
362
Total assets
$
444,137
$
463,669
LIABILITIES AND STOCKHOLDERS’ DEFICIT
Current liabilities:
Accounts payable
$
250
$
5
Accrued expenses
3,959
2,328
Current portion of long-term obligations
1,148,434
142,019
Other current liabilities
9
10
Current liabilities of discontinued operations
725
172
Total current liabilities
1,153,377
144,534
Deferred income tax liabilities
83,937
83,334
Long-term obligations, net of current portion
15,489
896,568
Commitments and contingencies
Stockholders’ deficit:
Preferred stock, $0.001 par value; 25,000 shares authorized; 355
shares designated as Series A Senior Convertible Preferred Stock; no
other shares issued or outstanding
—
—
Common stock, $0.007 par value; 57,143 shares authorized; 24,938
shares issued and outstanding at September 29, 2012 and December 31,
2011
175
175
Additional paid-in-capital
888,800
888,505
Accumulated other comprehensive income
5,486
21,805
Accumulated deficit
(1,703,127
)
(1,571,252
)
Total stockholders’ deficit
(808,666
)
(660,767
)
Total liabilities and stockholders’ deficit
$
444,137
$
463,669
NEXTWAVE WIRELESS INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND OTHER
COMPREHENSIVE LOSS
(in thousands, except per share data)
(unaudited)
Three Months Ended
Nine Months Ended
September 29,
October 1,
September 29,
October 1,
2012
2011
2012
2011
Operating expenses:
General and administrative
$
11,056
$
5,006
$
21,739
$
17,281
Restructuring credit
—
—
—
(1,076
)
Total operating expenses
11,056
5,006
21,739
16,205
Net gains on sales of wireless spectrum licenses
1
2
101
255
Loss from operations
(11,055
)
(5,004
)
(21,638
)
(15,950
)
Other income (expense):
Interest income
6
13
32
42
Interest expense
(44,773
)
(64,762
)
(129,441
)
(185,007
)
Other income (expense), net
(1
)
(7
)
(5
)
1,245
Total other expense, net
(44,768
)
(64,756
)
(129,414
)
(183,720
)
Loss from continuing operations before income taxes
(55,823
)
(69,760
)
(151,052
)
(199,670
)
Income tax benefit
217
262
614
2,082
Net loss from continuing operations
(55,606
)
(69,498
)
(150,438
)
(197,588
)
Income from discontinued operations before income taxes, net of
gains (losses) on divestitures of discontinued operations of $0,
$(1), $19,862 and $2,119, respectively
16
66
20,029
2,740
Income tax provision
(6
)
(24
)
(1,466
)
(1,000
)
Net income from discontinued operations
10
42
18,563
1,740
Net loss
$
(55,596
)
$
(69,456
)
$
(131,875
)
$
(195,848
)
Other comprehensive loss:
Net loss
$
(55,596
)
$
(69,456
)
$
(131,875
)
$
(195,848
)
Foreign currency translation adjustment transferred to earnings upon
substantial liquidation of foreign entities
—
—
(17,578
)
(1,305
)
Foreign currency translation adjustment
1,451
(2,653
)
1,259
1,325
Total other comprehensive loss
(54,145
)
(72,109
)
(148,194
)
(195,828
)
Amounts attributed to net income (loss) per common share:
Net loss from continuing operations
$
(55,606
)
$
(69,498
)
$
(150,438
)
$
(197,588
)
Net income from discontinued operations
10
42
18,563
1,740
Net loss
$
(55,596
)
$
(69,456
)
$
(131,875
)
$
(195,848
)
Net income (loss) per common share– basic and diluted
Continuing operations
$
(2.30
)
$
(2.89
)
$
(6.24
)
$
(8.21
)
Discontinued operations
—
—
0.77
0.07
Net loss
$
(2.30
)
$
(2.89
)
$
(5.47
)
$
(8.14
)
Weighted-average shares used in per share calculation
24,127
24,060
24,107
24,060
NEXTWAVE WIRELESS INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
(unaudited)
Nine Months Ended
September 29,
October 1,
2012
2011
OPERATING ACTIVITIES
Net loss
$
(131,875
)
$
(195,848
)
Net income from discontinued operations
18,563
1,740
Net loss from continuing operations
(150,438
)
(197,588
)
Adjustments to reconcile loss from continuing operations to net cash
used in operating activities of continuing operations:
Amortization of intangible assets
5,574
5,709
Depreciation
592
656
Non-cash share-based compensation
295
625
Paid-in-kind interest
124,080
98,448
Amortization of deferred financing costs and discounts
5,342
86,552
Gains on sales of wireless spectrum licenses
(101
)
(255
)
Gains from changes in estimated fair values of embedded derivatives
—
(1,261
)
Deferred income tax benefit
(607
)
(1,082
)
Other non-cash adjustments
3
(1,044
)
Changes in operating assets and liabilities:
Prepaid expenses and other current assets
572
551
Other assets
290
(389
)
Accounts payable and accrued liabilities
1,872
(2,610
)
Net cash used in operating activities of continuing operations
(12,526
)
(11,688
)
INVESTING ACTIVITIES
Proceeds from the maturity of investment securities
20,210
—
Purchase of held-to-maturity investment securities
(10,191
)
(15,000
)
Proceeds from the sale of wireless spectrum licenses, net of selling
costs
278
255
Net cash provided by (used in) investing activities of continuing
operations
10,297
(14,745
)
FINANCING ACTIVITIES
Payments on long-term obligations
(4,080
)
(10,137
)
Payments to restricted cash account used to redeem long-term
obligations
(647
)
—
Net cash used in financing activities of continuing operations
(4,727
)
(10,137
)
Cash provided (used) by discontinued operations:
Net cash provided (used) by operating activities of discontinued
operations
193
(906
)
Net cash provided by investing activities of discontinued operations
2,213
3,654
Net cash provided by discontinued operations
2,406
2,748
Effect of foreign currency exchange rate changes on cash
(18
)
3
Net decrease in cash and cash equivalents
(4,568
)
(33,819
)
Cash and cash equivalents, beginning of period
11,092
42,598
Cash and cash equivalents, end of period
6,524
8,779
Less cash and cash equivalents of discontinued operations, end of
period
(661
)
(40
)
Cash and cash equivalents of continuing operations, end of period
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Enterprises can't close their doors just because integration tools won't cope with the volume of information that their systems produce. As each day goes by, their information will become larger and more complicated, and enterprises must constantly struggle to manage the integra...
In an ideal developer/systems administrator’s world, most applications would deploy seamlessly to multiple platforms and scale elastically with minimal effort bringing the unprecedented agility of the cloud within immediate reach of developer teams and IT organizations.
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