Welcome!

Microsoft Cloud Authors: Liz McMillan, Pat Romanski, John Basso, Elizabeth White, Mihai Corbuleac

News Feed Item

Pacific Rim Mining Announces Fiscal 2013 Second Quarter Results

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/11/12 -- Pacific Rim Mining Corp. ("Pacific Rim" or "the Company") (TSX:PMU)(OTCQX:PFRMF) reports its financial and operating results for the three months ended October 31, 2012. Details of the Company's financial results are provided in its interim consolidated financial statements and Management's Discussion and Analysis ("MD&A") that will be publicly filed and made available to shareholders shortly. Shareholders are strongly encouraged to review these documents. All monetary amounts are expressed in United States ("US") dollars unless otherwise stated.

Nature of Operations

Pacific Rim is mineral exploration company focused on high grade, environmentally clean gold deposits in the Americas and committed to excellence in environmental stewardship and social responsibility. Pacific Rim's primary asset is the advanced-stage, vein-hosted El Dorado gold deposit in El Salvador, where the Company also owns several grassroots gold projects. The Company additionally holds a joint venture option on the Hog Ranch epithermal gold project in Nevada and is actively pursuing additional exploration opportunities elsewhere in the Americas.

All references to "Pacific Rim" or "the Company" encompass the Canadian corporation, Pacific Rim Mining Corp, its U.S. subsidiaries (Pac Rim Cayman LLC ("PacRim"), Pacific Rim Exploration Inc., and Dayton Mining (U.S.) Inc.), and Salvadoran subsidiaries (Pacific Rim El Salvador, S.A. de C.V. ("PRES") and Dorado Exploraciones, S.A. de C.V. ("DOREX"), inclusive.

The Company's business activity is focused on three main priorities: resolution of the El Dorado project permitting impasse including legal recourse, exploration of the Hog Ranch gold project and generation of new project opportunities. The El Dorado project is the subject of an arbitration claim (the "Arbitration") (more thoroughly described in the Company's Q2 2013 MD&A and Fiscal 2012 MD&A) being heard at the International Center for the Settlement of Investment Disputes ("ICSID") at the World Bank. During Q1 2013 the Arbitration was given permission by ICSID to proceed, under the Investment Law of El Salvador, to its final phase wherein the merits of the claim will finally be addressed at ICSID headquarters in Washington, DC. Notwithstanding the ongoing legal action, the Company continues to seek a negotiated resolution to the El Dorado permitting impasse and to resuming its advancement of the El Dorado project. The Company holds an option to earn a 65% interest in the Hog Ranch gold property in Nevada. The Company selected targets for, and recently received a permit to conduct, a Phase 1 drill program on the Hog Ranch property.

Pacific Rim's shares trade under the symbol PMU on the Toronto Stock Exchange ("TSX") and on the OTCQX market in the US under the symbol PFRMF.

Results of Operations

For the three month period ended October 31, 2012, Pacific Rim recorded a net loss of $(1.4) million ($(0.01) per share), compared to net loss of $(0.8) million ($0.00 per share) for the same period a year earlier. The loss recorded for Q2 2013 is primarily a result of operating losses of $(1.3) million (compared to $(1.1) million during Q2 2012). While Q2 2012 operating losses were offset by a $0.4 million gain on derivative liability (unrealized income related to changes in the fair value of common stock warrants issued by the Company during private placement financings), operating losses were increased during Q2 2013 by a $(0.1) million loss on derivative liability.

For the six months ended October 31, 2012, Pacific Rim recorded a loss of $(1.9) million or $(0.01) per share, compared to a loss of $(0.6) million or $(0.00) per share, for the six months ended October 31, 2011. This $1.3 million increase in net loss period over period is primarily attributable to a $1.3 million difference in unrealized gain on derivative liability ($1.4 million for the first six months of fiscal 2012 compared to $0.1 million for the same period of the current fiscal year).

Expenses

Exploration expenses were $0.4 million during Q2 2013 compared to $0.6 million during Q2 2012 reflecting a slowdown in activity at the Hog Ranch property during the current quarter. Expenses related to the ICSID Arbitration were $0.4 million during Q2 2013 compared to $0.1 million during the same period a year earlier reflecting renewed Arbitration activity in preparation for the final phase of the case which commenced during Q2 2013. Other expenses were largely unchanged quarter over quarter. As a result, operating loss for Q2 2013 was $(1.3) million compared to $(1.1) million for Q2 2012.

As described above, during Q2 2013 the Company recorded an unrealized loss on derivative liability of $(0.1) million compared to a gain of $0.4 million during Q2 2012).

Unusual Items

There were no unusual items in Q2 2013.

Summary

Slightly lower exploration costs during Q2 2013 compared to Q2 2012 were offset by slightly higher Arbitration costs, which led to a marginally increased operating loss of $(1.3) million for the second quarter of fiscal 2013 compared to $(1.1) million for the same period a year earlier. This loss was negligibly increased by an unrealized loss on derivative liability of $(0.1) million during Q2 2013, compared to an unrealized gain on derivative liability of $0.4 million during Q2 2012, which led to a $0.6 million increase in net loss and comprehensive loss period over period ($(0.8) million for Q2 2012 compared to $(1.4) million during Q2 2013).

Liquidity and Capital Resources

Cash

During Q2 2013 the Company's cash and cash equivalents increased by $1.4 million from $0.8 million at April 30, 2012 to $2.2 million at October 31, 2012. Short-term investments also increased, from $0.5 million at April 30, 2012 to $1.9 million at October 31, 2012. As a result of these increases in cash and cash equivalents and short-term investments, current assets increased by $2.8 million during the first six months of fiscal 2013, from $1.4 million at April 30, 2012 to $4.2 million at October 31, 2012. This increase reflects increases in cash and cash equivalents from the proceeds of a private placement financing undertaken during Q2 2013 and redemptions from short term investments, offset by expenditures of cash on the purchase of new short term investments and on exploration and project generation expenses, general and administrative costs associated with maintaining a public company, and expenditures related to the Arbitration action.

The Company's financial statements have been prepared on the basis that the Company will continue as a going concern, which assumes that the Company will be able to meet its commitments, continue operations, realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. There are events and conditions that cast substantial doubt on the validity of that assumption. The Company will require additional financing in the future in order to conduct substantial exploration programs and meet property commitments, for administrative purposes and potentially for legal expenses related to the Arbitration. The costs for the Arbitration are substantial and are anticipated to increase as the case proceeds to through the final, merits-based phase. While the Company has entered into a service and fee agreement with its Arbitration legal counsel that provides legal fee cost certainty, and, as a result of its recent private placement financing, has the funds in place to pay the legal costs related to the final phase of the Arbitration, additional unforeseen Arbitration-related costs may arise and ongoing general and administrative and regulatory expenses will necessitate additional financing in the future. Factors that could affect the availability of financing include fluctuations in the Company's share price, the state of international debt and equity markets, investor perceptions and expectations, global financial and metals markets, progress on any of the Company's exploration properties, and developments, if any, on the El Dorado project permitting application. The Company believes it will be able to obtain the necessary financing to meet its requirements on an ongoing basis; however, there can be no assurance that the necessary financing will be obtained, and such financing, if available, may be dilutive to the Company's shares and shareholders. As it has in the past, the Company plans to obtain additional financing through, but not limited to, the issuance of additional equity.

(The foregoing two paragraphs contain forward-looking statements regarding the requirement for financing and the use of funds that may be raised. See Forward-Looking Information.)

Working Capital

At October 31, 2012, the value of the Company's current assets was $4.2 million, compared to $1.4 million at April 30, 2012, an increase of $2.8 million. This increase in current assets is primarily the result of an increase in cash related to the Company's October 2012 private placement financing, offset by expenditures of cash on exploration, general and administrative responsibilities and the Arbitration action. Resource property balances at October 31, 2012 were negligibly higher than the April 30, 2012 balance ($5.51 million and $5.49 million respectively).

At October 31, 2012 the Company had current liabilities of $1.9 million, compared to the April 30, 2012 balance of $1.6 million, which is due to a slight increase in accounts payable and accrued liabilities. Of the accounts payable and accrued liability balances, $1.5 million at October 31, 2012 (compared to $1.4 million at April 30, 2012) is due to one vendor associated with the Arbitration action.

The $2.8 million increase in current assets combined with the marginal increase in current liabilities, resulted in a $2.5 million increase in working capital from $(0.2) million at the end of fiscal 2012 to $2.3 million at the end of Q2 2013.

Financial Condition

The Company does not intend to resume significant exploration programs in El Salvador until such time as the El Dorado environmental permit and exploitation concession are received. The Company cannot judge if or when the required permits will be received and is not currently planning any exploration programs for its El Dorado, Santa Rita and Zamora-Cerro Colorado properties for the immediate future beyond what is necessary to keep all of its exploration licences in good standing. Should the required permits be granted, the Company will evaluate its options for resuming full scale exploration work designed to advance its El Salvador projects.

During Q1 2013, following completion of a surface work program during fiscal 2012, the Company applied for and was granted a drill permit to conduct a 10-15-hole (approximately 12,000 meter) drill program at the Hog Ranch property, which permit allows for expanding the drill program to 31 holes. The Hog Ranch drill program is subject to future financing (favourable conditions for which are unlikely to occur until such time as the El Dorado permit has been received) and sourcing of drill contractors, and consequently may not commence during fiscal 2013 as previously anticipated. Acquisition of the Remance project is in doubt and therefore, no exploration plans for Remance are being contemplated at this time. However, if a final acquisition agreement on Remance is signed, as per the terms of the Remance LOI the Company will be responsible for undertaking a $1 million exploration program in the first year of the option period. The Company intends to continue its project generation initiatives with the aim of evaluating and possibly acquiring new exploration properties of merit that fit its exploration focus.

The Company anticipates that the Hog Ranch drill program and associated exploration will cost approximately $1.5 million, with a further $1 million required in the event the Remance property is acquired. Minimal expenditures are anticipated for generative exploration work. The Company will require additional financing in order to carry out the planned Hog Ranch drill program, as well as any other future exploration work of a substantive nature.

(The foregoing two paragraphs contain forward-looking statements regarding the scope and anticipated costs of exploration and generative work programs management intends to undertake during fiscal 2013. See Forward-Looking Information.)

The Company's general and administrative costs are expected to remain stable during the remainder of fiscal 2013. Expenditures related to the Arbitration claim are expected to increase substantially as the case proceeds through the final phase. At October 31, 2012, the Company had accumulated a liability of approximately $1.5 million related to the Arbitration. Additional working capital (likely through equity financing) will be required to fund ongoing general and administrative costs. Though the Company has signed a service and fee agreement with its Arbitration legal counsel that will preclude legal fee cost overruns, ancillary Arbitration-related expenses such as expert witnesses, court costs, etc. are less certain and may be substantial.

(The foregoing paragraph contains forward-looking statements regarding anticipated general and administrative expenses for fiscal 2013, and the requirement for additional financing to fund legal costs and future general working capital expenses. See Forward-Looking Information.)

The business of mining and exploration involves a high degree of risk and there can be no assurance that any of the Company's current exploration projects will result in profitable mining operations. The Company has no source of revenue, and will require additional cash in the future to fund exploration and administrative expenses. As at October 31, 2012, the Company has working capital of $2.3 million, has incurred losses since inception and has an accumulated deficit of $91.7 million. The Company's ability to continue operations and exploration activities as a going concern is dependent upon its ability to obtain future financing. The Company will need to raise additional funds to support exploration and administration expenses and may require additional funds to support unanticipated expenses related to the Arbitration action. While the Company has been successful in obtaining financing in the past, there is no assurance that sufficient funds will be available to the Company, or be available on favourable terms in the future. Factors that could affect the availability of financing include fluctuations in the Company's share price, the state of international debt and equity markets, investor perceptions and expectations, global financial and metals markets, progress on any of the Company's exploration properties, and developments, if any, on the El Dorado project permitting application. Additional financing will require, but may not be limited to, the issuance of additional equity. Readers are encouraged to thoroughly review the Risks and Uncertainties detailed in the Company's MD&A for fiscal 2012.

Outlook

Exploration

During the first half of fiscal 2013, the Company applied for and was granted a drill permit to conduct a 10-15 hole (approximately 12,000 meter) Phase 1 drill program at Hog Ranch, which permit allows for expansion of the drill program to 31 holes. The Company has selected and prioritized drill targets for Hog Ranch but has elected to forestall commencement of this Phase 1 drill program until such time as it can minimize the dilution on the cost of capital necessary to undertake the program (conditions for which are not likely to occur until such time as the El Dorado permit is granted). In addition to being subject to financing, commencement of this drill program is dependent on sourcing of drill contractors at a competitive rate. As such, the Hog Ranch drill program may not occur during fiscal 2013 as previously anticipated.

The Company's acquisition of the Remance property is on hold and highly uncertain at this time, pending the vendor's legal appeal of the Government of Panama's recent decision to deny extension of the Remance concession term. While the Company is keeping the Remance LOI in effect during Minera Clifton's appeal, it does not intend to sign a final agreement to acquire the Remance project unless the term of the concession is extended.

The Company will continue to curtail its exploration programs and expenditures in El Salvador until such time as PRES receives the El Dorado environmental permit and exploitation concession. The Company remains hopeful that it will either receive the El Dorado permit and mining concession or that it will be appropriately compensated. The Company will continue to seek opportunities for dialogue with the GOES aimed at resolving its permitting issues in El Salvador including receipt of the environmental and mining permits for the El Dorado project as well as re-establishing the exploration licence for Santa Rita.

The Company continues to seek new project opportunities in North and Central America.

The planned Phase 1 Hog Ranch drill program is expected to cost approximately $1.5 million. However, commencement of this drill program is dependent on securing adequate future financing, and procurement of drill contractors and as such, its timing is currently uncertain. If the Remance project is acquired, the Company will require financing to undertake an exploration program, as per the terms of its Remance letter of intent that is anticipated to cost approximately $1.0 million. Additional exploration work required to keep all of its El Salvador projects in good standing, and exploration expenses related to the Company's generative programs, will continue through fiscal 2013 and for the foreseeable future.

(The foregoing paragraph contains forward-looking statements regarding the Company's exploration plans and anticipated costs during fiscal 2013 and beyond, its efforts to settle the El Dorado permit impasse, and its requirements for additional funding. See Forward-Looking Information.)

General and Administrative and Legal

The Company's general and administrative costs are expected to remain stable during the remainder of fiscal 2013. Additional working capital (likely through equity financing) will be required in the future to fund ongoing general and administrative costs. Expenditures related to the Arbitration claim are expected to increase substantially as the case proceeds through the final phase. Though the Company has signed a service and fee agreement with its Arbitration legal counsel that will preclude legal fee cost overruns, ancillary Arbitration-related expenses such as expert witnesses, court costs, etc. are less certain and may be substantial.

The Company will continue to seek opportunities for dialogue with the GOES aimed at resolving the El Dorado permitting situation. The Company and its subsidiaries have a well-documented history of supporting local inhabitants and building relationships with all stakeholders. This is a key component of the Company's approach to exploration and development, and will continue in all jurisdictions in which it and its subsidiaries operate.

Unless these diplomatic efforts are successful, the Arbitration action is expected to proceed during the remainder of fiscal 2013 and beyond. The Company and its legal counsel are currently preparing for the final phase of the ICSID Arbitration case. PacRim's Memorial (initial written testimony in which the details of its case our presented) is now in preparation and will be submitted to the Tribunal in March 2013. This submission will be followed by a written response from the GOES and oral testimony by both parties before the Tribunal. Based on these submissions and testimonies, the Tribunal will determine whether El Salvador has breached Salvadoran and international law by refusing to issue the necessary mining licenses for the El Dorado Mine. They will also determine El Salvador's monetary liability for breaching the investment protections owed to a foreign investor as per in its own laws. The final phase of the Arbitration case is expected to continue through calendar 2013 and potentially beyond.

(The foregoing paragraph contains forward-looking statements regarding anticipated general and administrative and legal expenses during fiscal 2013; anticipated schedule of events through the final phase of the Arbitration; and management's expectations regarding expected Arbitration costs and its ability to manage these expenses. See Forward-Looking Information.)

Key Issues

Important corporate and technical issues facing the Company in the coming fiscal months (and beyond) include: developments related to the Arbitration action; ongoing efforts to reach a resolution to the El Dorado permitting impasse with the GOES; the Company's ability to secure adequate future financing for exploration expenses including the planned Hog Ranch drill program, maintenance of the El Salvador and Nevada properties and general working capital purposes; the execution and outcome of the Company's Phase 1 drill program at the Hog Ranch property; developments related to the potential signing of a formal option agreement to acquire the Remance project and the subsequent undertaking of an exploration and drilling program at Remance if, as, and when it is formally acquired; and, the continued search for additional exploration project opportunities. Readers are strongly encouraged to review the information provided in Section 13 - Risks and Uncertainties of the Q2 2013 MD&A and more thoroughly detailed in Section 14 of the Company's fiscal 2012 MD&A.

(The foregoing paragraph contains forward-looking statements regarding management's assessment of the key issues facing the Company during fiscal 2013 and the requirement for additional financing. See Forward-Looking Information.)

On behalf of the board of directors,

Thomas C. Shrake, President and CEO

Forward-Looking Information

The information contained herein contains "forward-looking statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934 (as amended) and applicable Canadian securities legislation. Forward-looking statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements." Statements concerning reserves and mineral resource estimates may also be deemed to constitute forward-looking statements to the extent that they involve estimates of the mineralization that will be encountered if the property is developed, and in the case of mineral reserves, such statements reflect the conclusion based on certain assumptions that the mineral deposit can be economically exploited.

This report contains forward-looking statements regarding:


--  the Company's future financing requirements and the use of funds that
    may be raised. These assumptions are based on management's estimate of
    working capital requirements and past expenditures. There are no
    guarantees that future financing will be available to the Company under
    acceptable terms and conditions. Readers are cautioned that without
    additional financing the Company's ongoing exploration plans may not be
    carried out as anticipated and its ability to continue its business may
    be at risk. 
    
--  the Company's assessment of expected legal costs associated with the
    Arbitration and its ability to meet these costs based on current cash
    and cash equivalent balances, as well as management's assessment that
    unanticipated Arbitration costs may arise for which additional financing
    may be required. The Company's expectation that it can meet the expected
    legal expenses during the final phase of the Arbitration is based on its
    understanding of costs laid out in the service and fee agreement with
    its legal counsel as well as its understanding of potential additional
    costs. Unanticipated costs related to the Arbitration may cause these
    assumptions to change and there can be no guarantee that the Company
    will not require additional financing related to the Arbitration or that
    additional financing will be available to the Company under acceptable
    terms and conditions. 
    
--  the scope of exploration and generative work programs management plans
    to undertake during fiscal 2013 and in the foreseeable future. These
    expectations are based on various assumptions including but not limited
    to: the Company's ability to secure financing, procure contractors and
    obtain permits necessary to commence the proposed Hog Ranch drill
    program; the Company and/or its subsidiary's signing of a Formal
    Agreement to acquire the Remance project; the Company and/or its
    subsidiaries' continued title and access to the El Dorado, Santa Rita
    and Zamora-Cerro Colorado properties; the availability and accessibility
    of projects the Company may be interested in acquiring; the availability
    of sufficient working capital and access to financing; the ability to
    procure adequate experienced staff; the availability of contractors; and
    other risks and uncertainties. Should any of these assumptions prove
    incorrect or requirements not be met, the Company's project generation
    and exploration for fiscal 2013 and beyond may not occur as planned. 
    
--  the Company's intent to forego significant exploration work at the El
    Salvador projects until certain permits are granted, the implication
    being that if and when these permits are granted increased investments
    in exploration will be made in El Salvador. Readers are cautioned that
    this statement conveys management's intent but that resumption of a
    large-scale exploration program at the El Salvador projects is dependent
    on not only the PRES's receipt of the El Dorado permit but also the
    availability of adequate financing, the ability to procure adequate
    experienced staff, the availability of contractors, and other risks and
    uncertainties. Should any of these assumptions prove incorrect or
    requirements not be met, the Company's project generation and
    exploration plans for the remainder of fiscal 2012 may not occur as
    planned. 
    
--  the Company's exploration plans and anticipated costs for fiscal 2013
    and beyond. The anticipated exploration expenditures reflect estimations
    made by management based on current levels of expenditure and
    anticipated work programs as described previously. Should unexpected
    costs arise, exploration expenditures may differ from those currently
    anticipated. 
    
--  anticipated general and administrative, and legal expenses and the
    possible requirement for additional financing to fund general working
    capital expenses and potential, unanticipated legal costs. These
    statements are based on management's assumption the Arbitration action
    will continue through fiscal 2013 and the expected costs of pursuing
    this action, plus the Company's anticipated burn rate for general and
    administrative costs. Should PRES receive the El Dorado permits at any
    time, the necessity to continue the CAFTA action may be averted and the
    anticipated impact on general and administrative costs may not
    materialize. 

Forward-looking statements are subject to a variety of risks and uncertainties, which could cause actual events or results to differ from those reflected in the forward-looking statements, including the risks and uncertainties outlined above and other risks and uncertainties related to the Company's prospects, properties and business detailed in its fiscal 2012 MD&A, in the Company's Annual Information Form for the year ended April 30, 2012 and in the Company's most recent Annual Report on Form 20F filed with the US Securities and Exchange Commission. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. The Company does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.

National Instrument 43-101 Disclosure

Mr. William Gehlen, Vice President Exploration, supervises Pacific Rim's exploration work on the El Dorado project. Mr. Gehlen is a Certified Professional Geologist with the AIPG (No. 10626), an employee of the Company and a Qualified Person as defined in NI 43-101.

Mr. David Ernst, Chief Geologist, supervises the Company's project generation initiatives and conducted due diligence geological investigations and confirmatory sampling at the Remance Project. Mr. Ernst is geologist licensed by the State of Washington, an employee of Pacific Rim and a Qualified Person as defined in NI 43-101.

Pacific Rim's sampling procedures follow the Exploration Best Practices Guidelines outlined by the Mining Standards Task Force and adopted by The Toronto Stock Exchange. Samples are assayed using fire assay with a gravimetric finish on a 30-gram split. Quality control measures, including check- and sample standard-assaying, are being implemented. Samples are assayed by Inspectorate America Corporation in Reno, Nevada USA, an ISO 9002 certified laboratory, independent of Pacific Rim Mining Corp.

The TSX has neither reviewed nor accept responsibility for the adequacy or accuracy of this release.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

@ThingsExpo Stories
With an estimated 50 billion devices connected to the Internet by 2020, several industries will begin to expand their capabilities for retaining end point data at the edge to better utilize the range of data types and sheer volume of M2M data generated by the Internet of Things. In his session at @ThingsExpo, Don DeLoach, CEO and President of Infobright, discussed the infrastructures businesses will need to implement to handle this explosion of data by providing specific use cases for filterin...
IoT generates lots of temporal data. But how do you unlock its value? You need to discover patterns that are repeatable in vast quantities of data, understand their meaning, and implement scalable monitoring across multiple data streams in order to monetize the discoveries and insights. Motif discovery and deep learning platforms are emerging to visualize sensor data, to search for patterns and to build application that can monitor real time streams efficiently. In his session at @ThingsExpo, ...
Early adopters of IoT viewed it mainly as a different term for machine-to-machine connectivity or M2M. This is understandable since a prerequisite for any IoT solution is the ability to collect and aggregate device data, which is most often presented in a dashboard. The problem is that viewing data in a dashboard requires a human to interpret the results and take manual action, which doesn’t scale to the needs of IoT.
Internet of @ThingsExpo has announced today that Chris Matthieu has been named tech chair of Internet of @ThingsExpo 2016 Silicon Valley. The 6thInternet of @ThingsExpo will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
What does it look like when you have access to cloud infrastructure and platform under the same roof? Let’s talk about the different layers of Technology as a Service: who cares, what runs where, and how does it all fit together. In his session at 18th Cloud Expo, Phil Jackson, Lead Technology Evangelist at SoftLayer, an IBM company, spoke about the picture being painted by IBM Cloud and how the tools being crafted can help fill the gaps in your IT infrastructure.
SYS-CON Events announced today the Enterprise IoT Bootcamp, being held November 1-2, 2016, in conjunction with 19th Cloud Expo | @ThingsExpo at the Santa Clara Convention Center in Santa Clara, CA. Combined with real-world scenarios and use cases, the Enterprise IoT Bootcamp is not just based on presentations but with hands-on demos and detailed walkthroughs. We will introduce you to a variety of real world use cases prototyped using Arduino, Raspberry Pi, BeagleBone, Spark, and Intel Edison. Y...
Much of IT terminology is often misused and misapplied. Modernization and transformation are two such terms. They are often used interchangeably even though they mean different things and have very different connotations. Indeed, it is somewhat safe to assume that in IT any transformative effort is likely to also have a modernizing effect, and thus, we can see these as levels of improvement efforts. However, many businesses are being led to believe if they don’t transform now they risk becoming ...
CenturyLink has announced that application server solutions from GENBAND are now available as part of CenturyLink’s Networx contracts. The General Services Administration (GSA)’s Networx program includes the largest telecommunications contract vehicles ever awarded by the federal government. CenturyLink recently secured an extension through spring 2020 of its offerings available to federal government agencies via GSA’s Networx Universal and Enterprise contracts. GENBAND’s EXPERiUS™ Application...
SYS-CON Events announced today that LeaseWeb USA, a cloud Infrastructure-as-a-Service (IaaS) provider, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. LeaseWeb is one of the world's largest hosting brands. The company helps customers define, develop and deploy IT infrastructure tailored to their exact business needs, by combining various kinds cloud solutions.
The best-practices for building IoT applications with Go Code that attendees can use to build their own IoT applications. In his session at @ThingsExpo, Indraneel Mitra, Senior Solutions Architect & Technology Evangelist at Cognizant, provided valuable information and resources for both novice and experienced developers on how to get started with IoT and Golang in a day. He also provided information on how to use Intel Arduino Kit, Go Robotics API and AWS IoT stack to build an application tha...
Whether your IoT service is connecting cars, homes, appliances, wearable, cameras or other devices, one question hangs in the balance – how do you actually make money from this service? The ability to turn your IoT service into profit requires the ability to create a monetization strategy that is flexible, scalable and working for you in real-time. It must be a transparent, smoothly implemented strategy that all stakeholders – from customers to the board – will be able to understand and comprehe...
It’s 2016: buildings are smart, connected and the IoT is fundamentally altering how control and operating systems work and speak to each other. Platforms across the enterprise are networked via inexpensive sensors to collect massive amounts of data for analytics, information management, and insights that can be used to continuously improve operations. In his session at @ThingsExpo, Brian Chemel, Co-Founder and CTO of Digital Lumens, will explore: The benefits sensor-networked systems bring to ...
SYS-CON Events announced today that Venafi, the Immune System for the Internet™ and the leading provider of Next Generation Trust Protection, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Venafi is the Immune System for the Internet™ that protects the foundation of all cybersecurity – cryptographic keys and digital certificates – so they can’t be misused by bad guys in attacks...
"Tintri was started in 2008 with the express purpose of building a storage appliance that is ideal for virtualized environments. We support a lot of different hypervisor platforms from VMware to OpenStack to Hyper-V," explained Dan Florea, Director of Product Management at Tintri, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Identity is in everything and customers are looking to their providers to ensure the security of their identities, transactions and data. With the increased reliance on cloud-based services, service providers must build security and trust into their offerings, adding value to customers and improving the user experience. Making identity, security and privacy easy for customers provides a unique advantage over the competition.
Is your aging software platform suffering from technical debt while the market changes and demands new solutions at a faster clip? It’s a bold move, but you might consider walking away from your core platform and starting fresh. ReadyTalk did exactly that. In his General Session at 19th Cloud Expo, Michael Chambliss, Head of Engineering at ReadyTalk, will discuss why and how ReadyTalk diverted from healthy revenue and over a decade of audio conferencing product development to start an innovati...
For basic one-to-one voice or video calling solutions, WebRTC has proven to be a very powerful technology. Although WebRTC’s core functionality is to provide secure, real-time p2p media streaming, leveraging native platform features and server-side components brings up new communication capabilities for web and native mobile applications, allowing for advanced multi-user use cases such as video broadcasting, conferencing, and media recording.
Large scale deployments present unique planning challenges, system commissioning hurdles between IT and OT and demand careful system hand-off orchestration. In his session at @ThingsExpo, Jeff Smith, Senior Director and a founding member of Incenergy, will discuss some of the key tactics to ensure delivery success based on his experience of the last two years deploying Industrial IoT systems across four continents.
There will be new vendors providing applications, middleware, and connected devices to support the thriving IoT ecosystem. This essentially means that electronic device manufacturers will also be in the software business. Many will be new to building embedded software or robust software. This creates an increased importance on software quality, particularly within the Industrial Internet of Things where business-critical applications are becoming dependent on products controlled by software. Qua...
"There's a growing demand from users for things to be faster. When you think about all the transactions or interactions users will have with your product and everything that is between those transactions and interactions - what drives us at Catchpoint Systems is the idea to measure that and to analyze it," explained Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York Ci...