EnXnet statement may grab attention

TULSA — After a year in which EnXnet Inc. saw a 52.6 percent decline in earnings, the Tulsa company is being described by one financial analyst as just one of many penny-stock companies competing to draw attention from investors.

Officials with EnXnet did not return calls to The Oklahoman, but in an October release the company indicated it has a promising future — thanks to an agreement struck with ACTIVECARD LLC for royalties from sales of MultiMedia Gift Cards based on the company's patented ThinDiscs.

Due to a confidentiality agreement, the company reported, the percentage of royalties from each card sale cannot be disclosed.

"We have secured our position with the royalty agreement and expect to begin cash flowing shortly,” Ryan Corley, chief executive officer of EnXnet, said in a statement published on the company's website. "I am very excited about not only this arrangement but the many old and new projects that we have in the pipeline.”

Financial analyst Jake Dollarhide isn't surprised by such pronouncements.

"In technology, you're always looking to the future,” Dollarhide said. "For the shareholder, results are down.

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