CCOM Group Inc. (fka CCOM)

[Renee]

CCOM: Spiderman Merger Sub, Inc. merged with and into CCOM Group, Inc.(CCOM; CCOMP); CCOM Group, Inc. (CCOM; CCOMP) common and convertible preferred shareholders each have the right to receive $2.71 for every 1 share of CCOM Group, Inc. common and convertible preferred stock held.

FINRA deleted symbol:

https://otce.finra.org/otce/dailyList?viewType=Deletions

[AskMuncher]

$CCOM
CCOM Group, Inc. Reports 2021 Third Quarter Results
Press Release | 11/12/2021
CCOM Group, Inc. (“CCOM”) (OTC Pink: “CCOM,” “CCOMP”), announced its financial results for the three and nine months ended September 30, 2021.

Results for the three months ended September 30, 2021 compared to results for the same period in 2020:

Sales increased 14.6% to $32,310,514 from $28,185,554
Gross profit increased 21.8% to $9,012,731 from $7,401,499
Selling, general and administrative expenses increased 19.4% to $7,365,369 from $6,169,708
Operating income increased 33.7% to $1,647,362 compared to $1,231,791
Net income of $3,615,164 compared to $917,443; the 2021 and 2020 amounts each include a $158,333 non-cash deferred income tax expense (with a corresponding decrease to CCOM’s deferred tax asset). The 2021 amount includes a $2,285,256 gain on early extinguishment of PPP debt.
Net income per share on a fully diluted basis increased to $0.37 per share from $0.09 per share
Results for the nine months ended September 30, 2021 compared to results for the same period in 2020:

Sales increased 17.9% to $91,076,042 from $77,279,836
Gross profit increased 24.5% to $24,868,691 from $19,979,153
Selling, general and administrative expenses increased 11.1% to $20,273,021 from $18,242,620
Operating income of $4,595,670 compared to $1,736,533
Net income of $6,209,349 compared to $1,161,213; the 2021 and 2020 amounts each include a $158,333 non-cash deferred income tax expense (with a corresponding decrease to CCOM’s deferred tax asset). The 2021 amount includes a $2,285,256 gain on early extinguishment of PPP debt.
Net income per share on a fully diluted basis increased to $0.64 per share from $0.12 per share
About CCOM Group, Inc.

CCOM Group, Inc. (“CCOM”) distributes heating, ventilating and air conditioning equipment (HVAC), parts and accessories, whole-house generators, climate control systems, and plumbing and electrical fixtures and supplies, primarily in New Jersey, New York, Massachusetts and portions of eastern Pennsylvania, Connecticut and Vermont through its subsidiaries: Universal Supply Group, Inc., www.usginc.com, The RAL Supply Group, Inc., www.ralsupply.com, and S&A Supply, Inc., www.sasupplyinc.com. CCOM is headquartered in New Jersey, and, with its affiliates, operates out of 15 locations in its geographic trading area. For more information on CCOM’s operations, products and/or services, please visit www.ccom-group.com.

(Financial Highlights Follow)


CCOM GROUP, INC. AND SUBSIDIARIES

Condensed Consolidated Balance Sheets


September 30,

December 31,

2021

2020

(Unaudited)


Assets

Current assets:

Cash

$
296,154

$
388,267

Accounts receivable, net of allowance for doubtful accounts
of $664,162 and $766,459, respectively

11,699,412

10,305,665

Inventory

23,575,963

20,936,936

Prepaid expenses and other current assets

821,064

749,053

Total current assets
36,392,593

32,379,921

Property and equipment

1,520,783

1,095,506

Goodwill

1,416,928

1,416,929

Other assets - noncurrent

576,835

188,824

Deferred tax asset - noncurrent

2,231,909

2,548,575

$
42,139,048

$
37,629,755

Liabilities and Stockholders' Equity

Current liabilities:

Borrowings under credit facility - revolving credit

$
9,492,568

$
9,151,368

Notes payable - current portion

161,629

627,009

Trade payables

5,450,050

5,892,126

Accrued liabilities



3,189,541

2,450,810

Income taxes payable

-

2,850

Total current liabilities
18,293,788

18,124,163

Notes payable, excluding current portion

378,061

2,247,742

Deferred tax liability - noncurrent

354,000

354,000

Total liabilities
19,025,849

20,725,905


Commitments and contingencies

Stockholders' equity:

Redeemable convertible preferred stock, $.05 par value,
2,500,000 shares authorized, 284,612 shares issued and


(Repayments) borrowings under credit facility - revolving credit, net

14,231

14,231

Common stock, $.05 par value, 20,000,000 shares authorized,
9,154,928 shares issued and outstanding

457,746

457,746

Additional paid-in capital

12,596,853

12,596,853

Retained earnings

10,044,369

3,835,020

Total stockholders' equity

23,113,199

16,903,850

$
42,139,048

$
37,629,755


The accompanying notes are integral part of these condensed consolidated financial statements.

CCOM GROUP, INC. AND SUBSIDIARIES

Condensed Consolidated Statements of Operations

(Unaudited)


For The Three Months Ended

For The Nine Months Ended

September 30,

September 30,

2021





2020





2021





2020

Sales

$

32,310,514

$

28,185,554

$

91,076,042

$

77,279,836

Cost of sales

23,297,783

20,784,055

66,207,351

57,300,683

Gross profit

9,012,731

7,401,499

24,868,691

19,979,153


Selling, general and administrative expenses

7,365,369

6,169,708

20,273,021

18,242,620

Operating income

1,647,362

1,231,791

4,595,670

1,736,533


Gain on Early Extinguishment of debt

2,285,256

-

2,285,256

-

Other income

42,121

44,026

139,719

179,364

Interest expense, net

(83,722)

(78,525)

(252,551)

(297,736)

Income from operations

3,891,017

1,197,292

6,768,094

1,618,161


Income tax expense

275,853

279,849

558,745

456,948

Net income

$

3,615,164

$

917,443

$

6,209,349

$

1,161,213


Income per common share:

Basic

$

0.38

$

0.10

$

0.66

$

0.12

Diluted

$

0.37

$

0.09

$

0.64

$

0.12


Weighted average shares

outstanding:

Basic

9,154,928

9,154,928

9,154,928

9,154,928

Diluted

9,439,540

9,439,540

9,439,540

9,439,540


The accompanying notes are integral part of these condensed consolidated financial statements.

CCOM Group, Inc.

Consolidated Statements of Stockholders' Equity

For Nine Months Ended September 30, 2021

(Unaudited)



Number of shares



Redeemable
Convertible
Preferred Stock


Common
Stock


Redeemable
Convertible
Preferred Stock


Common
Stock


Additional Paid-In
Capital


Accumulated
Deficit


Total
Stockholders'
Equity



Balance at December 31, 2020


284,612


9,154,928


$

14,231


$

457,746


$

12,596,853


$

3,835,020


$

16,903,850



Net Income


-


-




-




-




-




13,839




13,839

Balance at March 31, 2021


284,612


9,154,928


$

14,231


$

457,746


$

12,596,853


$

3,848,859


$

16,917,689



Net Income




2,580,346




2,580,346

Balance at June 30, 2021


284,612


9,154,928


$

14,231


$

457,746


$

12,596,853


$

6,429,205


$

19,498,035



Net Income




3,615,164




3,615,164

Balance at September 30, 2021


284,612


9,154,928


$

14,231


$

457,746


$

12,596,853


$

10,044,369


$

23,113,199


The accompanying notes are integral part of these condensed consolidated financial statements.


CCOM GROUP, INC. AND SUBSIDIARIES

Condensed Consolidated Statements of Cash Flows

(Unaudited)


For The Nine Months Ended

September 30,

2021


2020

Cash flows from operating activities:


Net income

$

6,209,349


$

1,161,213

Adjustments to reconcile net income to net cash


provided by operating activities:


Deferred income taxes

316,666


316,666

Provision for doubtful accounts

62,395


274,627

Depreciation

384,870


309,633

Net gain on sale of property and equipment

(6,200)


(12,300)

Forgiveness of financing

(2,285,256)


-

Changes in operating assets and liabilities


Accounts receivable

(1,456,142)


151,870

Inventory

(2,639,027)


(1,196,752)

Prepaid expenses and other current assets

(72,011)


273,993

Other assets - noncurrent

(388,011)


109,474

Trade payables

(442,076)


1,051,231

Accrued liabilities

738,731


(280,992)

Income taxes payable

(2,850)


(24,625)

Net cash provided by operating activities

420,438


2,134,038


Cash flows from investing activities:


Additions to property and equipment

(741,119)


(228,920)

Proceeds from disposal of property and equipment

6,200


12,300

Net cash used in investing activities

(734,919)


(216,620)


Cash flows from financing activities:


Repayments of notes payable

(118,832)


(86,670)

Issuance of financing

-


2,285,256

Borrowings (repayments) under credit facility - revolving credit, net

341,200


(4,022,898)

Net cash provided by (used in) financing activities

222,368


(1,824,312)

(Decrease) / Increase in cash

(92,113)


93,106

Cash - beginning of period

388,267


193,448

Cash - end of period

$

296,154


$

286,554


The accompanying notes are integral part of these condensed consolidated financial statements.

[AskMuncher]

$CCOM SAVE FOODS ANNOUNCES DAVID PALACH AS CO-CHIEF EXECUTIVE OFFICER
Press Release | 11/10/2020
TEL AVIV, Israel, Nov. 10, 2020 (GLOBE NEWSWIRE) -- Save Foods (OTC Pink: SAFO) (“Save Foods” or the “Company”), an Israeli-based food-tech company focused on developing and selling eco-friendly products specifically designed to extend the shelf life and ensure food safety of fresh fruits and vegetables, announced today that it has appointed David Palach as Co-Chief Executive Officer, alongside the Company’s current Chief Executive Officer, Mr. Dan Sztybel, effective as of November 5, 2020.

Mr. Palach is currently the owner of ST Sporting Ltd. and Sunlight Green Lighting Solutions Ltd., companies that specialize in environmental packaging and logistics, and provide general business consulting services to small and medium organizations and municipalities. Mr. Palach spent over a decade with Intel Israel, where he reported directly to the Intel Corporate U.S directorate. His last position at Intel was Manager of Business Development for Israel and Europe, and prior to that he served as a controller of two of Intel’s largest factories in Israel, where he supervised a budget of over $1 billion. Following his departure from Intel, Mr. Palach served as the CEO of B-Pure Corporation Ltd., a management and maintenance company that unites a group of subsidiaries involved in protecting and improving the environment. During his tenure, Mr. Palach helped turn around several failed companies and made them profitable.

Dan Sztybel, the Company’s existing Chief Executive Officer, commented on the appointment, “We’re pleased and excited that David will be joining our team. He is the ideal candidate to help lead Save Foods into the next stage of its life cycle while building on the momentum of our growing business development operations. He combines a proven track record for bringing disruptive product lines to market, a strong financial background as well as significant experience developing client relationships across international markets. I am confident that together we will be able to accelerate our growth.”

“I am excited to join Save Foods as its co-Chief Executive Officer,” commented Mr. Palach. “Their innovative solutions for the treatment of fresh produce have caught the attention of industry leaders here in Israel, Europe, the United States and Mexico. Save Foods is poised for substantial growth in this market, and I believe my experience, particularly in the areas of business development, financial management, manufacturing and logistics will enable me to provide valuable insight to the management team as we work to establish Save Foods as a leader in the sector.”

Forward-Looking Statements

Information set forth in this news release contains forward-looking statements that are based on the Company’s expectations, beliefs, assumptions and intentions regarding, among other things, its product-development efforts, business, financial condition, results of operations, strategies or prospects, as of the date of this news release. They are not guarantees of future performance. Forward-looking statements can be identified by the use of forward-looking words such as “believe,” “expect,” “intend,” “plan,” “may,” “should” or “anticipate” or their negatives or other variations of these words or other comparable words or by the fact that these statements do not relate strictly to historical or current matters. For example, the Company is using forward-looking statements when it discusses that Mr. Palach is the ideal candidate to help lead Save Foods into the next stage of its life cycle, building on the momentum of growing business development operations, accelerating growth, that Save Foods is poised for substantial growth, and that Mr. Palach can assist in establishing Save Foods as a leader in the sector. The Company cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: risks and uncertainties relating to market acceptance of our products by prospect markets and industries; the Company's ability to raise sufficient funding in order to meet the Company’s business and financial goals; and certain other factors, including those discussed under the heading “Risk Factors” summarized in the Company’s filings with the Securities and Exchange Commission. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.

About Save Foods

Save Foods is an innovative, dynamic company addressing two of the most significant challenges in the food / aggrotech industry: food waste & loss and food safety. We are dedicated to delivering integrated solutions for improved safety, freshness and quality, every step of the way from field to fork. Collaborating closely with our customers, we develop new solutions that benefit the entire supply chain and improve the safety and quality of life of both the workers and the consumers alike. Our initial applications are in post-harvest treatments in fruit and vegetable packing houses.

By controlling and preventing pathogen contamination and significantly reducing the use of hazardous chemicals and their residues, Save Foods products not only prolong fresh produce shelf life and reduce food loss and waste, it also ensures a safe, natural, and healthy product in a very cost-effective way.

Media Contact

Dan Sztybel
[e-mail]
US (323) - 744 7579

[AskMuncher]

$CCOM Group, Inc. Reports 2020 Second Quarter Results
Press Release | 08/10/2020
CCOM Group, Inc. (“CCOM”) (OTC Pink: “CCOM,” “CCOMP”), announced its financial results for the quarter and six months ended June 30, 2020.

Results for the quarter ended June 30, 2020 compared to results for the same period in 2019:

Sales decreased 18.4% to $26,685,479 from $32,689,122
Gross profit decreased 19.0% to $6,663,143 from $8,229,001
Selling, general and administrative expenses decreased 15.3% to $5,560,415 from $6,563,073
Operating income decreased 33.8% to $1,102,728 from $1,665,928
Net income decreased 27.7% to $931,921 from $1,288,227; the 2020 and 2019 amounts each include a $158,333 non-cash deferred income tax expense (with a corresponding decrease to CCOM’s deferred tax asset).
Net income per share on a fully diluted basis decreased to $0.10 per share from $0.13 per share
Results for the six months ended June 30, 2020 compared to results for the same period in 2019:

Sales decreased 9.9% to $49,094,282 from $54,492,732
Gross profit decreased 12.3% to $12,577,654 from $14,337,141
Selling, general and administrative expenses decreased 6.4% to $12,072,912 from $12,894,737
Operating income decreased 65.0% to $504,742 from $1,442,404
Net income decreased 73.4% to $243,770 from 916,655; the 2020 and 2019 amounts each include a $158,333 non-cash deferred income tax expense (with a corresponding decrease to CCOM’s deferred tax asset).
Net income per share on a fully diluted basis decreased to $0.03 per share from $0.09 per share
About CCOM Group, Inc.

CCOM Group, Inc. (“CCOM”) distributes heating, ventilating and air conditioning equipment (HVAC), parts and accessories, whole-house generators, climate control systems, and plumbing and electrical fixtures and supplies, primarily in New Jersey, New York, Massachusetts and portions of eastern Pennsylvania, Connecticut and Vermont through its subsidiaries: Universal Supply Group, Inc., www.usginc.com, The RAL Supply Group, Inc., www.ralsupply.com, and S&A Supply, Inc., www.sasupplyinc.com. CCOM is headquartered in New Jersey, and, with its affiliates, operates out of 16 locations in its geographic trading area. For more information on CCOM’s operations, products and/or services, please visit www.ccom-group.com.

For further information, please contact Peter D. Gasiewicz, Chief Executive Officer, or William Salek, Chief Financial Officer, at [phone].

(Financial Highlights Follow)


CCOM GROUP, INC. AND SUBSIDIARIES
Condensed Consolidated Balance Sheets

June 30, December 31,
2020

2019

(Unaudited)

Assets

Current assets:

Cash

$ 521,423

$ 193,448

Accounts receivable, net of allowance for doubtful accounts

of $792,777 and $557,532, respectively

12,712,215

11,260,382

Inventory

17,363,545

17,858,956

Prepaid expenses and other current assets

791,720

973,961

Total current assets

31,388,903

30,286,747

Property and equipment

1,070,912

1,009,524

Goodwill

1,416,929

1,416,929

Other assets - noncurrent

290,346

356,788

Deferred tax asset - noncurrent

2,640,667

2,799,000



$ 36,807,757

$ 35,868,988

Liabilities and Stockholders' Equity

Current liabilities:

Borrowings under credit facility - revolving credit

$ 11,942,152

$ 12,395,838

Notes payable - current portion

1,456,409

107,776

Trade payables

3,665,493

4,128,135

Accrued liabilities

1,983,554

2,657,118

Income taxes payable

16,625

24,625

Total current liabilities

19,064,233

19,313,492

Notes payable, excluding current portion

1,295,789

351,531

Deferred tax liability - noncurrent

354,000

354,000

Total liabilities

20,714,022

20,019,023



Commitments and contingencies

Stockholders' equity:

Redeemable convertible preferred stock, $.05 par value,

2,500,000 shares authorized, 284,612 shares issued and

outstanding, liquidation preference of $1,423,060

14,231

14,231

Common stock, $.05 par value, 20,000,000 shares authorized,

9,154,928 shares issued and outstanding

457,746

457,746

Additional paid-in capital

12,596,853

12,596,853

Retained earnings

3,024,905

2,781,135

Total stockholders' equity

16,093,735

15,849,965

$ 36,807,757

$ 35,868,988


CCOM GROUP, INC. AND SUBSIDIARIES
Condensed Consolidated Statements of Operations
(Unaudited)

For The Three Months Ended For The Six Months Ended
June 30, June 30,
2020

2019

2020

2019

Sales $
26,685,479

$
32,689,122

$
49,094,282

$
54,492,732

Cost of sales
20,022,336

24,460,121

36,516,628

40,155,591

Gross profit
6,663,143

8,229,001

12,577,654

14,337,141


Selling, general and administrative expenses
5,560,415

6,563,073

12,072,912

12,894,737

Operating income
1,102,728

1,665,928

504,742

1,442,404


Other income
78,884

50,957

135,338

108,308

Interest expense, net; includes related party interest of
$0 and $15,968 for three months ended June 30, 2020

and 2019, respectively, and $0 and $26,905 for the

six months ended June 30, 2020 and 2019, respectively

(87,658)

(216,206)

(219,211)

(403,225)

Income from operations
1,093,954

1,500,679

420,869

1,147,487


Income tax expense
162,033

212,452

177,099

230,832

Net income $
931,921

$
1,288,227

$
243,770

$
916,655


Income per common share:
Basic
$ 0.10

$ 0.14

$ 0.03

$ 0.10

Diluted
$ 0.10

$ 0.13

$ 0.03

$ 0.09


Weighted average shares
outstanding:
Basic
9,154,928

9,154,928

9,154,928

9,154,928

Diluted
9,439,540

9,439,540

9,439,540

9,439,540


CCOM GROUP, INC. AND SUBSIDIARIES
Condensed Consolidated Statements of Cash Flows
(Unaudited)

For The Six Months Ended
June 30,
2020

2019

Cash flows from operating activities:
Net income $
243,770

$
916,655

Adjustments to reconcile net income to net cash
used in operating activities:
Deferred income taxes
158,333

158,333

Provision for doubtful accounts
214,436

67,001

Depreciation
201,283

145,927

Net gain on sale of fixed assets
(2,000)

(2,225)

Changes in operating assets and liabilities
Accounts receivable
(1,666,269)

(3,602,409)

Inventory
495,411

(1,338,883)

Prepaid expenses and other current assets
182,241

179,983

Other assets - noncurrent
66,442

42,626

Trade payables
(462,642)

(146,211)

Accrued liabilities
(673,564)

(6,938)

Income taxes payable
(8,000)

(715)

Net cash used in operating activities
(1,250,559)

(3,586,856)


Cash flows from investing activities:
Additions to property and equipment
(200,923)

(236,001)

Proceeds from disposal of property and equipment
2,000

7,000

Net cash used in investing activities
(198,923)

(229,001)


Cash flows from financing activities:
Repayments of notes payable: includes related party
repayments of $0 and $103,639 respectively
(54,113)

(136,497)

Issuance of financing
2,285,256

Repayments of short term financing, related party
-

(500,000)

Issuance of short term financing, related party
-

500,000

(Repayments) borrowings under credit facility - revolving credit, net
(453,686)

4,038,498

Net cash provided by financing activities
1,777,457

3,902,001

Increase in cash
327,975

86,144

Cash - beginning of period
193,448

307,472

Cash - end of period $
521,423

$
393,616





View source version on businesswire.com: https://www.businesswire.com/news/home/20200810005016/en/

[PennyStock Alert]

CCOM

[tsoprano-1]

Mov1es, haven't had a chance to go over report yet. But, loss was less than last year. This is the bad quarter, so any improvement is good. Book value is 40-50% higher than where we are at, so if any deal happens should be good for nice pop. I will take a look at report tonight hopefully.

T

[mov1es]

Quarterly out today is not as good as annual. I am also unsure of what to think about the transition of ownership that is beginning. Obviously the family wants to maintain control and they have about 60% now. Somewhere along the way a portion of this business went back to Goldman because they are no longer in appliance distribution. I could not find where it clearly was ever stopped or sold back to the Goldman company or wher it went.

I liked this a lot more 2 years ago. Holding but watching with a wary eye. At least the bank is making sure there is an independent CEO or they pull the financing.

[tsoprano-1]

Another outstanding report. Adding another .32 to the book value for the year. Savings acct just keeps going up. Sooner or later something will happen to get the true value out of the stock.

T

[tsoprano-1]

Excellent report today. Revs, operating income, net income all up from last year. EPS of .13. Book value now $1.25. Just like a savings acct.

T

[tsoprano-1]

Yeah, I guess I haven't looked at individual salaries, but shares out has been stable and quite low. And, the valuations are great. As long as they keep making .05-.10 a year I look at it as a savings acct. Eventually something will happen to create the value I expect. There is a similar company, MRCR, Moro, that has been getting a better valuation from the market. I wouldn't mind seeing them combine, but, of course, egos may get in the way of that happening. I have thought about contacting some private equity firms about going after them, but that sounds like work. Plus I am not done accumulating. Take care.

T

[mov1es]

Thanks for the update. In change of control BV probably needs to be paid. Also agree that with many of these OTC co's the management team is pretty happy to take home the pay and often the company through excessive bonuses and option grants. Tough to find the better ones to invest in.

[tsoprano-1]

Companies can buy back shares and I hope it would be below book value. However, to buy entire company, aka, take it private, they must go by book value. I suppose if no one complains it might go through. The companies that do the valuation are paid for by the company, so biased by what the company tells them they want to get it at. But, in the 1980's I was involved with a company called Shelter Corp. their parent BorSon Construction tried to take it private, but was sued by a broker working with me. The judge agreed that BorSon must pay at least book value. Happened again in early 2000's with VINT, a Napa Valley vintner. I threatened to sue based on the other case and the bid was raised almost $3 to get above BV. If you can find old insider records for CCOM, you will see one name buying tons. I don't know his relationship to company but my guess is he would not like getting bought below BV. I would love for management to actually do something for shareholders and start buying back stock down here. But they seem happy with their paychecks. I continue to accumulate.

T

[mov1es]

tsoprano - Why do they have to buy it at book? I have other stocks that have been bought back at less than book. You would not have to sell at any particular price unless it is in their articles of inc or voted on in an annual meet. Otherwise I think you can just hold out and not sell. There would usually be some kind of language in the corp docs that would detail this. Have you seen them?

[tsoprano-1]

Jim, sorry, can't respond private. Not a member. But, yes, could be company buying back stock. I have emailed them a couple times about buying back stock or going private. To do that they would have to price it at book or more. They could be trying to buy cheap shares well below book now and then announce down the road. Good size bids keep coming in so it could also be the private investor that had a good chunk before they went dark. Lastly, it could be a newsletter or broker that discovered it, but it would seem to have more little buys instead of blocks. So my guess is company has had a couple good quarters and want it to themselves. Hope this helps.

T

[tsoprano-1]

Another fine year. Another .08 to book value. Trading a little over half book. If they ever want to take it private they have to give us at least book. Double from here.

T

[tsoprano-1]

Mentioned in SA article as stock of the day by Nicholas Bodnar.

T

[tsoprano-1]

Someone getting aggressive. 32,000+ on the bid. Anyone know what that's about?

T

[tsoprano-1]

Someone put a market order in and it fell all the way down. I tried to get some today but 5 MMs went ahead of me. So back to normal now.

T

[natstocks]

What caused the fall in price, if anything?

[natstocks]

Thanks Soprano, interesting stuff. I guess I will have to put them on my "filings to read" list.

Noticed this in the linked insider transactions page: It calls Brody a 10% owner but he owned only 233,000 shares in a 9M share company - would need 900k shares to be 10% owner. Maybe in this case 10% is a catch-all for any insiders, too. Weird that he appeared to be buying equal amounts for himself and the trust. Yet they are different purchases - I wonder what that is all about, if it's not a glitch.

[tsoprano-1]

I found this link on the CCOM site here at IHub. It shows what was happening before they delisted and I think it is still going on.
http://www.secform4.com/insider-trading/21828.htm

T

[tsoprano-1]

Natstocks, the low P/S ratio is one of the reasons I was attracted to these guys. The insider buying also caught my eye, although they don't report that anymore. I think the first q is weak because most installations of HVAC units would be during ood weather. Just a guess, though. With a good BV and profitable, I am basically accumulating and waiting for a buyout/going private. Kind of my thinking on AYSI originally. Take care.

T

[natstocks]

So... am I reading this right: $88M revenues, $3M earnings last year, and $5M market cap? And a $7.2M book value.

The risk with a stock like this is getting screwed by management first and foremost, I think.

The ratio of revenue to market cap is really astounding - maybe the business model *somewhat* justifies it? I haven't even looked into the business model; just glanced at a couple numbers.

I was wondering why the first quarter is traditionally a bad one.

[ballzer]

hurricane play based in new jersey. should get some action

[jwez]

Latest filings

http://www.otcmarkets.com/stock/CCOM/filings

[Soapy Bubbles]

Colonial Commercial Corp. Reports 2011 Second Quarter Results
print
Colonial Comml Corp (QB) (USOTC:CCOM)
Intraday Stock Chart

Today : Monday 15 August 2011
Click Here for more Colonial Comml Corp (QB) Charts.

Colonial Commercial Corp. (“Colonial”) (OTCQB: “CCOM,” “CCOMP”), today announced financial results for the three months and six months ended June 30, 2011.

Three Months Ended June 30, 2011

Sales for the three months were $20,194,697, down 6.1%, or $1,306,288, from the corresponding period in 2010. The decrease in sales was substantially related to a continuing decline in demand for heating, ventilation and air conditioning units utilized in residential new construction and the reduction of commercial hydronic and plumbing bid and specification work.

Gross profit for the three months was $5,441,288, down 2.9%, or $165,193, from the corresponding period in 2010. Gross profit expressed as a percentage of sales was 26.9% in the 2011 period compared to 26.1% for the corresponding period in 2010. The decline in gross profit was directly related to the loss in sales. The increase in gross margins expressed as a percentage of sales was caused by a continuing decline in commercial bid and specification work and a decline in heating, ventilating and air conditioning units sold for new construction, both of which are sold at lower than normal margin percentages.

Selling, general and administrative expenses were $4,852,682, down 4.9%, or $250,433, from the corresponding period in 2010. The decrease in selling, general and administrative expense is primarily related to a $60,674 reduction in payroll and benefit costs, a $293,457 reduction in rent, a $22,524 reduction in depreciation and amortization and a $44,861 reduction in office expense, offset by a $26,890 increase in facility expense and a $138,453 increase in professional fees related to property tax reassessments.

The Company’s net income for the three months was $499,069, up 61.7%, or $190,440, compared to the corresponding period in 2010. The increase in net income is primarily the result of the $250,433 decrease in selling, general and administrative expenses and an $88,966 decrease in interest expense, partially offset by the $165,193 decrease in gross profit.

Six Months Ended June 30, 2011

Sales for the six months were $35,256,670, down 5.7%, or $2,142,214, from the corresponding period in 2010. The decrease in sales was substantially related to a continuation of the reduction in demand for heating, ventilation and air conditioning units utilized in residential new construction and the reduction of commercial hydronic and plumbing bid and specification work.

Gross profit for the six months was $9,619,755, down 3.1%, or $309,052, from the corresponding period in 2010. Gross profit expressed as a percentage of sales was 27.3% in 2011 compared to 26.5% for the comparable period in 2010. The decline in gross profit was directly related to the loss in sales. The increase in gross margins expressed as a percentage of sales was caused by a continuing decline in commercial bid and specification work and a decline in heating, ventilating and air conditioning units sold for new construction, both of which are sold at lower than normal margin percentages.

Selling, general and administrative expenses were $10,149,124, down 3.1%, or $324,398, from the prior-year six months. The decrease in selling, general and administrative expense is primarily related to a $106,113 reduction in payroll and benefit costs, a $322,655 reduction in rent, a $43,612 reduction in depreciation and amortization and an $83,071 reduction in office expense, offset by a $65,126 increase in facility expense and a $164,247 increase in professional fees related to property tax reassessments.

The Company’s net loss for the six months was $766,710, down 11.1%, or $95,434, compared to the corresponding period in 2010. The decrease in net loss is primarily the result of the $324,398 decrease in selling, general and administrative expenses and a $68,151 decrease in interest expense, partially offset by the $309,052 decrease in gross profit.

William Pagano, Chief Executive Officer of the Company, said, “Our focus on improving operating efficiencies resulted in a 16.9% increase in operating profits this quarter versus the same quarter of the prior year. We are positioned that any increase in sales should have a favorable impact on profitability in the future. Currently, the economic trends remain unclear and the competitive landscape remains difficult. However, we believe that a pent-up demand is building for the products that we sell and eventually this demand should be released for our products and services. We expect this to happen during the next 12 to 18 months.”

About Colonial Commercial Corp.

Colonial distributes heating, ventilating and air conditioning, (“HVAC”), equipment, parts and accessories, climate control systems, customized control panels, and plumbing and electrical supplies and equipment to professional contractors in the states of New York, New Jersey, Massachusetts, Connecticut and eastern Pennsylvania through its subsidiaries; Universal Supply Group, Inc., www.usginc.com, The RAL Supply Group, Inc., www.ralsupply.com, American/Universal Supply Division, www.ausupplyinc.com, and S&A Supply, Inc., www.sasupplyinc.com. The Company also distributes home appliances to dealer groups and appliance stores through its Goldman Universal division. The Company is headquartered in New Jersey, and, with its affiliates, operates out of 19 locations in its geographic trading area. For more information on Colonial’s operations, products and/or services, please visit www.colonialcomm.com.

Safe Harbor Statement

The foregoing press release may contain statements concerning Colonial Commercial Corp.’s financial performance, markets and business operations that may be considered "forward-looking" under applicable securities laws. Colonial cautions readers of this press release that actual results might differ materially from those projected in any forward-looking statements. Factors which might cause actual results to differ materially from any results that are projected in the forward-looking statements include the following: continued acceptance of the company's products in the marketplace, competitive factors, dependence upon third-party vendors, and other risks detailed in the company's periodic report filings with the Securities and Exchange Commission. These and certain other factors which might cause actual results to differ materially from those projected are detailed from time to time in Colonial's periodic reports and registration statements filed with the Securities and Exchange Commission. Colonial undertakes no obligation to update forward looking statements to reflect changed assumptions, the occurrence of unanticipated events, or changes in future operating results, financial condition or business over time.

[MistySteel]

LOL I'll try.

[Soapy Bubbles]

Be creative. :D

[MistySteel]

Do you want me to bring anything?

[Soapy Bubbles]

The Ceelo game is ready and let's light it up.

[MistySteel]

:) Yes, I think we need to.

[Soapy Bubbles]

Agreed. Shall we light someone on fire?

[MistySteel]

It's too quiet here...

[Soapy Bubbles]

Camping out...

[Soapy Bubbles]

So... updates?

[cartier]

Hello Misty
Is this a good stock?

[Soapy Bubbles]

Nice move today.

[MistySteel]

OK, thanks... TTYS :)

[GSE]

I can only do pubic messages. Here is my e-mail.

[e-mail]

[Soapy Bubbles]

So, is that a "yes"?

[MistySteel]

Wow!... Thank you :) I’ll ask Soapy to send you my email to you.

[MistySteel]

Which one?... The stock that introduced me to HF on SW? :) or This one? http://www.otcmarkets.com/stock/CCOM/insider-transactions

[GSE]

I am loaded with 31.2 mil shears of WN** and I will continue to buy more. CK Out my two Korean sites if you get a chance.

http://kr.blog.yahoo.com/long3624/MYBLOG/yblog.html?pc=3


http://cafe.daum.net/1000plus.for.stains


What other good stocks are you into?

[Soapy Bubbles]

Is this a good stock?
:D

[MistySteel]

Hi GSE :) Yes, my parents are from Korea. And yes, I am still in... Let’s see what happens to our loads in a couple of months.

[GSE]

Hi Misty,
Are you Korean? Saw you got out of WNBD. Could I ask why? Seems like WNBD is a good company. There PPS is really low seems like good place to get in. I hope I'm not being too personal.

[Soapy Bubbles]

2011 Q1 Results
http://ih.advfn.com/p.php?pid=nmona&article=47669724&symbol=CCOM

[shankapotamus]

LOL... that's beyond my one calculus class.

[Soapy Bubbles]

I like this...

Residue theorem


And the snack after:

[Soapy Bubbles]

Nice -- continued fractions are so much cleaner. I was hoping to do a Cauchy integral around the OTC. The fun part is that you end up where you started in the domain of integration (since it's a closed loop integral) but all the weirdos (poles, discontinuities, cuts, etc.) give a non-zero value to the integral. It's basically integrating over infinities and other fun things we see out here.

Yet it won't give me the answer to 1+1+1 unless it somehow involves a factor of 2 \pi \im.

Damn Residue Theory... Cauchy was SUCH a slacker and was too lazy to remove the \im. Bum.