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 General Automotive Co. audio interview from General Automotive President and CEO Dan Valladao

General Automotive Company (GNAU)

http://www.generalautomotive.com

Company Profile

General Automotive Company

General Automotive Company provides state-of-the-art automotive parts, mobile electronics & related products at multiple levels of distribution throughout the US. Focused on expanding its growth platform through the acquisition of niche manufacturing companies that offer replacement parts and innovative accessories with high growth potential. By leveraging their unique relationships with manufacturers in China, Korea and Japan and just-in-time capabilities, General Automotive offers attractive, cost-effective supply chain solutions to US-based major parts distributors seeking an edge in today's highly competitive automotive environment.

OE Source

One of two operating divisions of General Automotive Company, OE Source (OES) imports and sells hard-to-get auto parts from proprietary sources domestically and abroad, fulfilling critical portions of its customers' supply chain. These customers include large, multi-national distributors. OES specializes in engine management products such as O2 sensors that are a rapidly growing - and government mandated - segment of the auto supply industry. Through its direct relationship to manufacturers in Asia, OES enjoys a competitive advantage in terms of quality and pricing that will enable it to leverage these relationships into increased market share and profitability.

GreenCell

GreenCell is engaged in a joint venture with SenCer Inc. to develop, commercialize and market SenCer's UltraTempT ceramic composite materials for Home and Transportation applications. GreenCell has identified multiple industries with significant commercial applications with potential revolutionary results. Some of the many applications for this technology are SOFC Fuel Cells, Igniters, Braking, Oxygen Sensors, Ceramic Heaters.

5422 Carrier Dr., Suite 309, Orlando FL 32819 Phone: 407.363.5633

About OE SOURCE

OE Source is a worldwide manufacturer and distributor of automotive parts and accessories. With global reach, OE Source can find and deliver most any automotive part or accessory to the largest of automotive customers. With divisions that cater to both parts and accessories, we are able to handle most any product demand. With a customer base that includes some of the largest OEM and aftermarket automotive companies, OE Source has an excellent track record delivering the right parts at the right price. OE Source has manufacturing and sourcing capabilities that extend around the globe. Combine this with our warehousing capabilities in the US and Asia and OE Source is the company you can count on for your automotive needs.

Automotive Parts

OE Source's Automotive Division is one of the most aggressive and powerful automotive parts distributors with relationships with the largest Japanese automotive manufacturing companies and China OEMs that extend into most of Asia. Through our manufacturing plants located in Japan, China, Taiwan, Thailand and Malaysia, we offer the following automotive products and categories.
 

Automotive Mobile Electronics

OE Source and our partners based in Korea have worked to develop some of the highest quality mobile electronics available in the market place today. We are an OEM supplier to Chrysler Mopar and others for overhead DVD mobile entertainment systems. Our current product line includes the Lynx two-way car alarms, Backup view and sensor systems, and an all-in-one flip down overhead DVD mobile entertainment system. New state of the art products including Hands Free, Telematics, Navigation and more are all available thru our wide ranging new products list. We are committed to providing customers the best in mobile electronics and customer service as well as expanding the cutting edge of technological solutions to security and convenience needs.

GreenCell



GreenCell

    * home
    * technology
    * commercialization
    * market
    * development plan

A Joint Venture     GreenCell is engaged in a joint venture with SenCer Inc. to develop, commercialize and market SenCer's UltraTemp™ ceramic composite materials for Home and Transportation applications. GreenCell has identified multiple industries with significant commercial applications with potential revolutionary results. Some of the many applications for this technology are SOFC Fuel Cells, Igniters, Braking, Oxygen Sensors, Ceramic Heaters.
One Keuka Business Park, Penn Yan, NY 14527 | p: 315.694.7134 | e: info@greencellinc.com     © 2011. GreenCell Inc.

GreenCell Technology

Technology

GreenCell's Core Technology:

SenCer Inc. has developed a ceramic composite material called UltraTemp™ based upon ceramic fiber/ ceramic matrix combinations. Several blends have been developed with high purity oxide and carbide chemistries. These materials have exhibited excellent thermal and temperature stability as high as 1800°C. The physical pore structure and fiber physiology have allowed an unprecedented bond when coatings of high purity oxide and metals are placed on the surface and co-fired with the composite.

UltraTemp's unparalleled qualities enable new applications that previously have not been possible.

UltraTemp Products

GreenCell's Ceramic Igniter Technology:

UltraTemp™ and its ability to bond any ceramic or metal conductor would be ideally suited for use as a small systems igniter. Not only would the materials strength and durability be superior to existing Silicon Carbide (SiC) based igniters but it would be lower in cost to these igniters. The cost would also be much less than some of the newer offered technologies (silicon nitride - Si3N4). Since any resistance metallic ink can be tailored to the surface of UltraTemp™, no expensive power supplies would be needed and designs could be fabricated to any AC or DC voltage levels and resistances. Shape dependency tied to specific ceramic technology immediately goes away and simple as well as complex shapes with intricate patterns are possible. Since coatings can be overlayed, hermetic coatings are possible and SenCer Inc. has already developed a thermally matched pure glass and glass ceramic coating. These would be especially useful in any damp or corrosive environment as well as for advanced lifetime capabilities.

Green Cell - Igniters and heaters GreenCell - Igniter Bench Test

GreenCell's O2 Sensor Technology: Automotive Oxygen Sensor

This technology has already been used to produce a ceramic based heater similar to the commercial Japanese automotive heater as well as some first O2 circuits during a fuel cell demonstration program. The following pictures show the technology being used for the O2 sensor heater. The ceramic coating for the O2 sensor is also shown in these pictures. Finally a graph of the response of these O2 heaters is shown against the leading Japanese company. The response characteristics are identical to the current O2 heater.

UltraTemp - Heater Response Kenetics Dynamic Response of ZrO2 Oxygen Sensor

The proposed oxygen sensor would contain a thick film sensor containing the heater and ion conductor layer as a leaded insert. The layer would be inserted into a precut flange that would subsequently be glass bonded using a seal glass technology. This design will fit into the current thimble housing and lends itself to automated manufacturing. GreenCell already has developed a high temperature seal coat which is stable to 1400°C and can be masked around the sensor element. Proprietary electrode technology is already developed to replace platinum and SenCer has ink production facilities at its disposal. Padding and brazing technology is already established. The following drawings show the design and concept.

GreenCell's Fuel Cell Technology:

The proposed Fuel Cell Design stack design utilizes the same basic technology as proposed for the oxygen sensor. Proof of concept has been completed through a program funded by the New York State Energy Research Agency (NYSERDA). Most of the base concept work was done during this feasibility study and we were encouraged by the results. Although final fuel cell output was not demonstrated, earlier work on an inert anode cell showed it's potential output at 2-3 times existing technology. Further work is now needed to provide exact aging and power output data as well as to simulate the best design. The following UltraTemp™ properties show the materials direct relationship and advantages to the new fuel cell design.

How Fuel Cells Work:

Fuel cells generate electricity from an electrochemical reaction in which oxygen (air)and a fuel (e.g. hydrogen) combine to form water. There are several different types of fuel cell but they are all based around a central design. The electricity produced can be used to power all sorts of devices, from cars and buses to laptops and mobile phones. The by-product heat is also used in some applications, for example to keep houses warm. How GreenCell's fuel cells work

What we describe as the fuel cell itself consists of a so-called fuel cell stack. A stack is basically built up of a number of individual cells.

Each individual cell within this stack has two electrodes, one positive and one negative, called the cathode and the anode. The reactions that produce electricity take place at the electrodes. Every fuel cell also has an electrolyte, which carries electrically charged particles from one electrode to the other, and a catalyst, which accelerates the reactions at the electrodes. The electrolyte plays a key role. It must permit only the appropriate ions to pass between the anode and cathode. If free electrons or other substances could travel through the electrolyte, they would disrupt the chemical reaction.

Typical Fuel Cell

Utilizing a New Approach to Ion conducting Materials

Concept:

SenCer Inc. has field test data supporting UltraTemp's remarkable thermal properties and the bonding relationship with engineered oxide, conductive metals and ceramics coatings. SenCer can now develop devices based upon this new technology in the oxygen sensing (automotive and medical markets), oxygen generation and power generation (fuel cell technology). This approach can inherently improve the current generation of technologies and would provide a patent protectable development in advanced ceramics.

Many of the current device concepts are based upon the following model:

The Concept has inherent property problems including:

  • Thermal Properties Mismatch (Expansion and Conductivity)
  • Poor Mechanical Properties (Due to limitations of Ion conducting materials + Conductive Layers)
  • Debonding of Dense Layers at the Interface. (Poor Bond, Aging Effects)
  • Difficult to modify chemical compositions and properties
  • Difficult to Manufacture

Current device designs that utilize this approach include SOFC fuel cell components based on ion conductor (electrolyte) supported stacks, oxygen sensors, oxygen generators, and discrete electronic devices. These can be classed as electrolyte supported (flat plate SOFC fuel cell, oxygen sensors) or anode supported (tubular SOFC fuel cell).

SenCer's New Concept

This concept has many benefits including:

  • Controlled Thermal Properties (Expansion and Conductivity)
  • Controlled Mechanical Properties inherent in UltraTemp™ substrate
  • No limitations of Ion conducting materials + Conductive Layers
  • Strong bonding of coated Layers at the Interfaces. (Reduces Aging Effects)
  • Unlimited in size and complexity
  • Automated Manufacturing possible

This could be thought of as a composite supported device as it relies on the thermal properties of the UltraTemp™ and the new physical and chemical bonding of the co-fired layers. The process can produce any shape in an inexpensive software based production environment.

Test bench systems have already been developed for oxygen sensor testing and fuel cell testing. Below is the initial complete UltraTemp™ fuel cell stack showing the use of the sealed composite.

 
 

Commercialization

Timing:

GreenCell's activities and objectives are divided into two areas; short term and long term. This helps us avoid the principle pitfall of most fuel cell companies, the fact that full commercialization is just beginning and will ramp up over the next 10 years.

Short term revenue Oxygen Sensors:

We have the methods and technology to significantly cut the materials costs of O2 sensors while end running all the existing patents. This same technology has applications in other automotive applications. We believe this technology can be available for licensing within 2 years.

Longer term revenue Fuel Cells:

The development of energy-efficient, environmentally friendly fuel cell technologies. GreenCell's groundbreaking technology solves the two most persistent problems in fuel cell design - cost and durability - by replacing expensive platinum conductors with co-fired proprietary ceramic conductive layers. This is a breakthrough approach, and we are pleased to position GA at the forefront of this important effort through our joint venture with SenCer, which over the last 10 years has provided research and core ceramic materials to some of the leading developers of solid oxide fuel cells (SOFC). We believe we can generate commercial (non-government) revenue from fuel cells within 4-6 years. The fuel cell market is expected to deliver exponential growth over the next 15 years as fossil fuels are phased out in transportation applications.

Revenue Model O2 Sensors:

Our first revenue stream will come from licensing our O2 sensor technology.

We have several differentiating features which will most definitely generate interest on the part of the world's leading O2 sensor manufacturers. First and foremost current technology requires the use of platinum, a very expensive material. Our design uses ceramic composites and Cermet materials instead. In addition, one of the principle problems in O2 sensor design is the cover of the tip. This is a coated metal with baffles that allow the exhaust gasses access to the sensing tip but not the full flow of gas pressure in the exhaust tube. These tips corrode and are a major cause of component failure. We can avoid this by creating an Ultra-Temp tip that is porous and resistant to the harsh conditions within the exhaust system.

We can be ready to patent and protect our technology in less than 18 months. At that point we will show prototypes to the largest O2 sensor manufacturers and begin licensing the technology.

Revenue Models Fuel Cells:

Although fuel cell technology is now beginning to see genuine commercialization on a small scale, high volume demand may be as far as 10 years away depending on geopolitical and economic forces. Two of the current business models in the fuel cell industry are stack developers and IP producers. Stack developers manufacture fuel cell stacks for use by third parties. IP producers work on producing intellectual property which they lease/license to third party companies. Our model is a hybrid of both current models. We will develop and manufacture fuel cell stacks and stack components but we are also gearing to license the technology, supply the proprietary ingredients and lease the special machinery to large companies who wish to ramp up high production systems. This puts them in control of the production process and GreenCell in control of the technology.

In the shorter term, we intend to approach a set of interested customers in the transportation industry to form a consortium of users of our stacks. We can then contract for both stack supply and technology transfer. In addition, GreenCell's license gives it ownership of all future developments created under the GreenCell umbrella. This is a significant potential revenue stream as technology developed under the GreenCell license can be used in many applications.

Platinum:

One of the key economic drivers for ATCs technology is the avoidance of platinum in its designs. Here is some information from the NYMEX:

"Platinum is the principal metal of the six-metal group that bears its name; the other platinum group metals are palladium, rhodium, ruthenium, osmium, and iridium. All possess unique chemical and physical qualities that make them vital industrial materials.

Platinum is among the world's scarcest metals; new mine production totals approximately only 5 million troy ounces a year. In contrast, gold mine production runs approximately 82 million ounces a year, and silver production is approximately 547 million ounces.

Supplies of platinum are concentrated in South Africa, which accounts for approximately 80% of supply; Russia, 11%; and North America, 6%.

Because of the metal's importance as an industrial material, its relatively low production, and concentration among a few suppliers, prices can be volatile."

 

 
  GreenCell Market

Market

The Market for Ceramic Igniters

SenCer Inc. has had several discussions with original equipment companies for the ceramic igniters. It is expected that a rapid commercialization of the UltraTemp™ igniter in a $600 million dollar global market can be achieved based upon addressing the industry need. There are an estimated 4 million gas fired furnaces produced by the OEM's each year. The igniters cost $8-$10 each as a complete unit. Therefore, the igniter market for just new gas furnaces (which is a small portion of the overall igniter market) is $32-$40 million with a total overall market of approximately $600 million per year. Through the use of the proposed advanced ignition and sensing system, a reduction in home fuel energy reduction could be as high as 30%. The direct result of this development will be to offer better energy management, a safer environment for consumers, and a lower liability to original equipment manufacturers.

The Market for Oxygen Sensors

Global automobile production is currently 71 million vehicles per year. Each vehicle has an average of 2 oxygen sensors per bank of cylinders. Air quality legislation mandates tighter emission controls and the number and complexity of oxygen sensors is increasing. Recent legislation in the United States doubled the number of oxygen sensors in each vehicle. As these vehicles age (80,000 - 100,000 miles) every oxygen sensor will have to be replaced. We estimate the global market for oxygen sensors including Tier 1 OEM supply and aftermarket to be greater than 8 billion dollars per year and growing.

How the sensor works:

Oxygen sensors are used in modern automobiles to control the fuel and ignition systems to optimize a car's performance in the areas of emissions and fuel economy. Sensors are located before and after the catalytic converter to check on the amount of oxygen in the exhaust. The sensor sends signals to the car's on-board computer, which then can adjust several variables, including air/fuel ratio and timing, in order to bring the engine into the optimum operating range.

The Fuel Cell Market and General Information

Evidence suggests that commercialization of the fuel cell began in 2007. This belief is based on the increase in manufacturing capability, decreasing costs and the increasing number of OEM tie-ups which took place during the year. Fuel cell technology is being pulled into the market by concerns over climate change, air pollution and dependence on imported fuel, and by the consumer-led demands for longer product run time and greater power requirements in portable devices.

As a technology fuel cells are highly efficient, offer a reduction in greenhouse gas (GHG) emissions, and are modular, allowing a scalable approach to increased power requirements, Currently, fuel cells are relatively expensive (due to platinum content) and there are a number of issues outstanding in terms of research, development and demonstration, codes and standards, fuel infrastructure and distribution.

Over the past three years the industry has seen an annual growth rate of 59% in fuel cell units delivered, with some 12,000 new units shipped during 2007. Fuel Cell Today estimates that the current global manufacturing capability for fuel cells is over 100,000 units per year, with a quarter of this coming from companies whose business activity is exclusively the development of hydrogen and fuel cell technologies.

Market Drivers

Climate change:

GHG emissions come from a range of sectors with current data from the European Union showing nearly one third from the production of energy and a fifth from transportation. Due to their efficiency gains and use of less carbon intensive fuel, the commercialization of fuel cells could provide significant cuts in GHGs emitted from energy production, buildings and transport, making them a key target for government support.

Energy costs and security:

The geopolitics of oil has come under intense scrutiny over the last decade. With oil prices breaking $140 per barrel in 2008, an unthinkable level even three years ago, and with the costs of exploration and extraction rising, diversification of energy supplies is high on the agenda. While hydrogen, the primary fuel for fuel cells, does not itself exist in any natural form on Earth, it can be made from a wide range of sources including wind and solar. 2008 Oil Price Chart

Urban Pollution:

Transport is one of the most important sources of atmospheric urban pollution. Although some cities are tackling this issue with policies such as low emission zones or even banning the use of internal combustion engines in certain applications. We expect to see increasing legislation in this area.

Transportation:

In the automotive arena, a number of different factors should help to push sales of fuel cells. Legislation is widely mentioned in the press, particularly in the form of the Californian zero emission vehicle (ZEV) mandate, which quantifies minimum numbers of zero emission vehicles which must be sold annually in California. Fuel cells also have the potential to be more fuel-efficient than their competitors and, in the long-term, this may prove to be the biggest driver for real sales of this technology. Hydrogen Power Bus

Production of fuel cell powered light duty vehicles has grown considerably in 2007, with around 250 new units introduced and 800 units now deployed worldwide. Several of the major automotive OEM's have made significant announcements on fuel cell vehicles in 2007. Chief among these are Honda and General Motors who each announced that they would be leasing 100 of their fuel cell cars to customers in the next year. Both of these projects are very promising as they should lead to wider customer acceptance.

Demonstration Projects are likely to continue for th next two years while larger-scale deployment of thousands to tens of thousands of LDVs should occur within the next 8 years. We anticipate greater and greater pressure originating from the geopolitics of oil as well as GHGs to accelerate fuel cell vehicle development and production beyond today's expectations. There is no question that on a global level it will take up 5-12 years to make substantial strides in the total fuel cell infrastructure from generation to distribution to end user. However as pressures mount the amount of investment and technical resources will grow exponentially and companies like GreenCell will move the industry forward.

We believe that our SOFC technology will meet all transportation criteria at a much lower cost, with rapid start up, less specialized fuel and with longer life expectancy.

 
  Green Cell Development Plan

Development Plan

Prototype Development:

Because SenCer already has nine years of development in the core UltraTemp™ technology including years of research in Ceramic Heaters, Oxygen Sensors and Fuel Cells we estimate prototype development and testing will take 6-24 months. Through an initial development program with New York State, the proof of concept has been completed and device fabrication utilizing the technology has proven successful.

Intellectual Property protection and patents:

A substantial budget is reserved for intellectual property protection. Preliminary existing patent reviews of this core technology and the potential devices developed from it, shows that several new patents can be awarded.

Ceramic Heaters/Igniters:

SenCer Inc. has been approached by both original equipment manufacturers as well as the market leader of the technology to take advantage of our UltraTemp™ material properties to fabricate a low-cost igniter that can resolve all of the flaws of the current technologies. The original equipment companies and homeowner insurance companies are also interested in the development of a low-cost flue sensor based upon the same technology with a corresponding low cost control circuit.

O2 Sensor Licensing:

Once we have protected our developments we will offer licensing opportunities with all the major O2 sensor manufacturers and OEM Partners. We will also have the ability to manufacture the sensor package ourselves and deliver to market through existing sales channels.

Fuel Cell Stack Design:

The UltraTemp™ core technology offers an integrated solution to fuel cell stack design, several major problem solutions to existing problems are possible with it. An integrated hydrogen sealed outer structure is possible that has low cost, and high life expectancy. The problem of degrading hot gas flow porting can be solved by integrated gas port channels within the structure. The UltraTemp™ supported cell design offers bi-cell capability with built-in fuel/air flow and combustion control, eliminating potential hot spots. The high temperature bonding of layers allows for rapid start-up and a high output potential several times higher than the current technology, thereby increasing output per size metrics. Overall thermal aging of the system is minimized since the thermal properties of the stack are developed from the same material base offering a matched thermal expansion.

As soon as the prototypes are completed we will begin work on the stack layout, gas flow and overall design. We will also apply our proprietary sealing technology to the outer casing and design high volume automated manufacturing method


General Automotive Co.

Management Team

Dan Vallsdao

Dan Valladao
President, Chief Executive Officer and Chairman

One of the founders of General Automotive, Dan Valladao has 25 years of automotive experience, including in the retail, wholesale and OEM sales channels, and was instrumental in increasing the company's sales from just over $3 million in 2004 to $15 million in 2007. Prior to co-founding General Automotive, Mr. Valladao served for five years as Vice President of Sales and Marketing for APS International, a global manufacturer and distributor of automotive product. He was previously responsible for sales to OEM companies such as Ford, GM, Chrysler, Honda and Toyota for HSG Corporation, a large manufacturer's representatives firm. In 1988, Mr. Valladao served as Executive Vice President to Mobile Living Corporation, a retailer of vehicle accessories, building the company into a multi-store chain with sales in excess of $20 million within five years.

Tim Alford

Tim Alford
Chief Operating Officer, Director

For more than 25 years, Mr. Alford has specialized in sales and marketing of electronic components with both OEM and global distribution channels. He joined General Automotive as President of OE Source, a wholly-owned subsidiary, in 2004. Earlier in his career, he served as Operations and Marketing Manager for multi-billion dollar global electronic distributors such as Arrow Electronics (2000-2004), Future Electronics (1997-2000), and Milgray Electronics (1991-1997). He also served as Regional Distributor Sales Manager for AVX Corporation, a NYSE-listed OEM manufacturer with 20 facilities in 12 countries, from 1979-1984 and from 1987-1991. Mr. Alford's primary responsibilities in these roles were to provide management direction relating to all aspects of product procurement and inventory control. In addition, he provided sales and product expertise to customers and the sales force.

Shawn Powell Joseph

Shawn Powell Joseph
Chief Financial Officer

Shawn Powell Joseph is an accomplished accounting and information systems chief with diverse industry experience and a proven track record in financial reporting, financial planning and analysis, budgeting and forecasting at the corporate and subsidiary levels, as well as internal and external auditing. Experienced in internal controls, inventory control, treasury support, international accounting and international financial reporting standards, Ms. Powell Joseph brings a strong background in divestitures, acquisitions and integration issues to the Company.

Throughout her career Ms. Powell Joseph has served in various accounting, financial management and strategic planning capacities, including that of an Auditor with Touché, Ross & Company, an Accounting and Information Systems Consultant with Resources Global Professionals and the Corporate Controller of General Automotive Company. She earned a Bachelor of Science Degree in Accounting from Southern University. In addition to holding a MBA with a concentration in Global Management, Shawn Powell Joseph is a management doctoral scholar with an emphasis in information systems and technology.

Acquisition Criteria

Types of Business

  • We seek manufacturers of high value-added, Automotive Parts and Accessories.
  • We acquire companies with potential for growth in revenue and or profits.
  • We prefer companies that are niche-oriented market leaders with either a #1 or a strong #2 market position.
  • We do not purchase turn-around situations.

Management

  • General Automotive is decentralized--we will only buy businesses which have strong management teams in place. We expect management of each operating company to behave as the emotional owners of that business and we have longer term financial incentives designed to encourage continued growth of the business.

Financial

  • Since we seek market leaders, we expect outstanding operating financial performance that can be built upon. We also expect that any business we own will generate significant real growth over time.
  • We expect no 'synergies'. Acquisitions and each business is expected to stand on its own
  • We are cash buyers but, will entertain exchange for General Automotive stock, which we view as a more expensive medium of exchange.
  • A rigorous due diligence process covering finance, potential for growth, management and operational functions will be applied to acquisitions.

Contact Information

Download our Aquisition Brochure

Dan Valladao
President, Chief Executive Officer and Chairman
P: 407.363.5633
F: 407.363.4574
5422 Carrier Drive, Suite 309
Orlando FL 32819

5422 Carrier Dr., Suite 309, Orlando FL 32819 Phone: 407.363.5633

Careers

Careers @ General Automotive

General Automotive is a unique and rapidly growing company, continually demonstrating values and convictions between our employees and to our customers. If you are in search of a challenging and dynamic career opportunity, then our management staff is interested in finding out more about you and your commitment to success! Send your resume and cover letter to careers@generalautomotive.com

Investor Relations

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The mission of General Automotive Company is to become a growing force in providing state-of-the-art automotive parts and accessories.

General Automotive is focused on strategic acquisitions that add shareholder value via private/public arbitrage, fundamental performance and value creation. The automotive industry is experiencing upheaval and change - in that change we see unprecedented opportunity for profitable growth by acquisition.

 

Chart



General Automotive Co. GNAU

http://www.otcmarkets.com/stock/GNAU/quote

OTCQB / Common Stock

OTCQB Logo
  • 0.036
  • 0.0013 ( 6.28%)
  • Real-Time OTC-BBO 0.022 x 0.027 (5000 x 5000)
  • Trade Time May 27, 2011
Contact Info
  • 5422 Carrier Drive
  • Suite 309
  • Orlando, FL, 32819
Update Company Info
Business Description

Not Available

Financial Reporting/Disclosure
Reporting Status U.S. Reporting: SEC Filer Audited Financials Not Available Latest Report Not Available Regulatory Agency Not Available CIK 0001376668 Fiscal Year End 8/31 OTC Market Tier OTCQB
Profile Data
SIC - Industry Classification 7812 - Motion picture and video production Incorporated In: NV, USA Year of Inc. Not Available Employees Not Available
Company Officers
Dan Valladao President, CEO Tim Alford COO Shawn Powell Joseph CFO
Company Directors
Dan Valladao Chairman Tim Alford
Company Notes
  • Formerly=Utility Investment Recovery, Inc. until 3-2008
  • Formerly=Bridgefilms, Inc. until 12-07
GNAU Security Details
Share Structure
Market Value1 $660,797 a/o May 27, 2011

Issued and Shares Outstanding 18,354,417 a/o March 31, 2011
Issued and Shares Outsatnding 23,854,417 a/o March 26, 2010

   Float Not Available Authorized Shares Not Available Par Value 0.001
Shareholders
Shareholders of Record 105 a/o Apr 15, 2011
 
Short Selling Data
Short Interest 1,000 (100%)
Apr 29, 2011
Significant Failures to Deliver No
Transfer Agent(s)
Empire Stock Transfer Inc.
Service Providers
Auditor/Accountant
Not Available
Legal Counsel
Not Available
Investor Relations Firm
Not Available

http://www.otcmarkets.com/stock/GNAU/news

Outside News SourcesPublish DateHeadlineApr 5, 2011General Automotive SuppliesMar 13, 2011New Pearl District offices for tech startups didn't meet expectations, tenants say

SEC Filings

http://www.otcmarkets.com/stock/GNAU/financials
Form TypeReceivedPeriod EndingSizeReport10-QMay 23, 2011May 23, 2011333.8 KB PDF    RTF    HTML    XLSNTN 10QMay 18, 2011Mar 31, 201136.0 KB PDF    RTF    HTML    XLS10-12BMay 16, 2011
35.6 KB PDF    RTF    HTML    XLS10-KApr 15, 2011Apr 14, 20111.0 MB PDF    RTF    HTML    XLSNT 10-KMar 31, 2011Dec 31, 201034.2 KB PDF    RTF    HTML    XLS10-QNov 22, 2010Sept 30, 2010360.1 KB PDF    RTF    HTML    XLSNT 10-QNov 15, 2010Sept 30, 201034.7 KB PDF    RTF    HTML    XLS8-K/AOct 28, 2010Oct 28, 201055.3 KB PDF    RTF    HTML    XLS8-KOct 21, 2010Oct 20, 201041.1 KB PDF    RTF    HTML    XLS10-QAug 16, 2010Jun 30, 2010258.8 KB PDF    RTF    HTML    XLS



GENERAL AUTOMOTIVE COMPANY AND SUBSIDIARIES
CONSOLIDATED CONDENSED BALANCE SHEETS
 
 
   
June 30, 2011
   
December 31, 2010
 
   
(Unaudited)
   
(Audited)
 
Assets
           
Current assets:
           
Cash
  $ -     $ 5,410  
Accounts receivable, net
    1,564,789       1,858,598  
Inventories
    969,054       1,059,926  
Other current assets
    30,160       46,230  
Total current assets
    2,564,003       2,970,164  
Property and equipment, net
    22,235       25,794  
Other assets, net
    833       3,335  
      $ 2,587,071     $ 2,999,293  
                 
Liabilities and Shareholders' Deficit
               
                 
Current liabilities:
               
Accounts payable
  $ 1,301,032     $ 1,571,355  
Bank overdraft
    14,802       -  
Line of credit
    1,224,609       1,555,033  
Accrued expenses
    626,015       462,810  
Notes payable -Current
    652,025       107,263  
Notes payable to related parties
    760,000       660,000  
Total current liabilities
    4,578,483       4,356,461  
                 
Long-term notes payable
    281,125       644,185  
                 
Shareholders' deficit:
               
Preferred stock, $0.001 par value; 10,000,000 shares authorized, none issued and outstanding
    -       -  
Common stock; $0.001 par value; 90,000,000 shares authorized, 18,354,417 issued and outstanding at June 30, 2011 and 18,354,417 issued and outstanding at December 31, 2010
    18,354       18,354  
Additional paid-in capital
    10,161,596       10,156,839  
Accumulated deficit
    (12,452,487 )     (12,176,547 )
Total shareholders' deficit
    (2,272,537 )     (2,001,353 )
    $ 2,587,071     $ 2,999,293  
See accompanying notes to consolidated financial statements
 


 
ITEM 1.Financial Statements (continued)
 
GENERAL AUTOMOTIVE COMPANY AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS (Unaudited)
 
 
   
Three months ended June 30,
   
Six months ended June 30,
 
   
2011
   
2010
   
2011
   
2010
 
Revenues
  $ 2,576,109     $ 2,798,772     $ 6,278,411     $ 5,329,355  
Costs of goods sold
    2,297,163       2,448,729       5,593,320       4,718,748  
Gross profit
    278,946       350,043       685,091       610,607  
                                 
Expenses:
                               
Selling, general and administrative
    407,855       354,270       827,683       838,666  
                                 
Total expenses, net
    407,855       354,270       827,683       838,666  
Loss from operations
    (128,909 )     (4,227 )     (142,592 )     (228,059 )
Other income (expense):
                               
Interest expense
    (61,063 )     (50,581 )     (122,413 )     (86,208 )
Total other expense, net
    (61,063 )     (50,581 )     (122,413 )     (86,208 )
                                 
Net loss from operations
    (189,972 )     (54,808 )     (265,005 )     (314,267 )
                                 
Loss from equity method investment
    (10,728 )     -       (10,935 )     -  
                                 
Net loss
  $ (200,700 )   $ (54,808 )   $ (275,940 )   $ (314,267 )
                                 
                                 
Loss per share
                               
Basic and diluted:
  $ (0.01 )   $ (0.00 )   $ (0.01 )   $ (0.01 )
                                 
Weighted average number of common shares outstanding:
                               
Basic and diluted
    18,354,417       20,554,417       18,354,417       21,104,417  
                                 
 
 
See accompanying notes to consolidated financial statements
 
 
 
 


ITEM 1.Financial Statements (continued)
 
GENERAL AUTOMOTIVE COMPANY AND SUBSIDIARIES
 
CONSOLIDATED CONDENSED STATEMENTS OF CASHFLOWS (Unaudited)
 
 
 
   
Six months ended June 30,
 
   
2011
   
2010
 
Cash flows from operating activities:
           
Net cash provided by/(used in) by operating activities
  $ 30,212     $ (190,936 )
                 
Cash flows from investing activities:
               
Decrease in other assets
    -       (7,024 )
Net cash (used in) investing activities
    -       (7,024 )
Cash flows from investing activities:
               
                 
Cash flows from financing activities:
               
Bank overdraft
    14,802       -  
Net borrowings/repayments under lines of credit
    (330,424 )     (23,832 )
Borrowings on notes payable
    180,000       541,720  
Borrowings/repayments of on notes payable to related parties
    100,000       (150,000 )
                 
Net cash provided by (used in) financing activities
    (35,622 )     367,888  
                 
Net increase (decrease) in cash
    (5,410 )     169,928  
Cash, beginning of year
    5,410       3,701  
                 
Cash, end of period
  $ -     $ 173,629  
Supplemental disclosure of cash flow information:
               
Interest paid
  $ 61,350     $ 82,610  
                 
 
 
 
See accompanying notes to consolidated financial statements

    
 
 

 



 
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GNAUQ
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SureTrader
GNAUQ News: General Automotive Co. (GNAU: OTC Link) | Symbol Change 02/08/2013 01:02:30 AM
PostSubject
#860   NO FLOAT AT ALL...BLUE SKIES BLUER WITH EACH BUY ARBITRARY & CAPRICIOUS 11/05/16 11:35:21 AM
#859   GNAUQ top watch for NEXT WEEK ARBITRARY & CAPRICIOUS 11/05/16 11:32:59 AM
#858   Will be on fire here. ARBITRARY & CAPRICIOUS 11/05/16 11:29:37 AM
#857   moves on air and any volume of reason ARBITRARY & CAPRICIOUS 11/05/16 11:28:53 AM
#856   hit 7 pennies on low volume... ARBITRARY & CAPRICIOUS 11/05/16 11:28:02 AM
#855   Heating up.....multi bagger ahead ARBITRARY & CAPRICIOUS 11/05/16 11:27:20 AM
#854   $GNAUQ micro OS wake me up at .20 TRIPIL7Z 03/08/16 03:11:22 PM
#853   GNAUQ is smells like a winner kranthikumar 07/30/13 09:53:19 AM
#852   before at least I thought they stood a Ken_S 02/23/13 01:49:36 PM
#851   Why are you speaking in the future tense? nsomniyak 02/22/13 10:53:00 PM
#850   What now? Do our shares become worthless. Ken_S 02/22/13 04:24:59 PM
#849   Bankruptcy, wonderful..... bdubble 02/15/13 02:11:23 PM
#848   GNAU changed to GNAUQ: Renee 02/07/13 05:38:42 PM
#847   What does the "E" mean? It means get bdubble 08/14/12 04:48:13 PM
#846   Delays in fillings has caused "E" to the symbol. ASK 07/25/12 07:44:27 PM
#845   Got some more today. ASK 07/19/12 11:56:40 PM
#844   Got only 5K at 0.011. ASK 07/13/12 12:02:08 AM
#843   Notification that Annual Report will be submitted late locksflooring 04/07/12 10:06:36 PM
#842   Waveriders this is the time now to be Buzznbrewz 03/09/12 09:52:59 AM
#841   10q coming soon! bdubble 03/08/12 04:57:09 PM
#840   GNAU @ .035! Estrella 03/08/12 09:54:11 AM
#839   GNAU @ .02! Estrella 03/08/12 09:45:09 AM
#837   Any thoughts on GNAU you would care to bdubble 12/07/11 02:52:01 PM
#833   Thanks for the update. Grouse Hunter 11/23/11 01:59:28 PM
#832   GNAU, 8-K out today Bucks4Buckeyes 11/23/11 01:00:07 PM
#831   I haven't seen the prices this low on Bucks4Buckeyes 11/23/11 08:41:16 AM
#830   Thank You! locksflooring 11/23/11 08:39:33 AM
#829   I doubt it very much, they will be Bucks4Buckeyes 11/23/11 08:39:00 AM
#828   Are they going under ? 5 Year chart http://ih.advfn.com/p.php?pid=squote&symbol=GNAU locksflooring 11/23/11 06:46:18 AM
#827   10-Q Out Bucks4Buckeyes 11/22/11 11:49:54 AM
#826   Looking forward to seeing what it has to bdubble 11/15/11 02:29:38 PM
#825   NT 10-Q filed for GNAU yesterday. Quarterly Bucks4Buckeyes 11/15/11 12:36:51 PM
#824   Hope this picks up and something comes out bdubble 11/14/11 11:18:53 AM
#823   This little puppy moves big %'s at a bdubble 10/25/11 03:34:19 PM
#822   GNAU webpage on $THE WAVE! PenniesGoneWild 09/30/11 08:44:12 PM
#821   I was wondering the same thing last night Buzznbrewz 09/30/11 07:19:17 PM
#820   Thank you! Looking forward to what is in bdubble 09/30/11 12:49:25 PM
#819   The short term chart is holding and it Buzznbrewz 09/29/11 06:31:29 PM
#818   Thanks! I always count on you and the bdubble 09/29/11 11:25:37 AM
#817   I AM LIKING THE DATE AFTER THE WARRANTS Buzznbrewz 09/28/11 06:14:20 PM
#816   Trust me, I believe in this company and bdubble 09/28/11 05:32:07 PM
#815   This is a quiet company making all the PenniesGoneWild 09/28/11 03:08:41 PM
#814   Good call!! bdubble 09/28/11 02:20:40 PM
#813   15 minute chart showing ready for bounce back upwards! PenniesGoneWild 09/28/11 12:06:44 PM
#812   http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8011096 Our Markets an Buzznbrewz 09/15/11 08:47:53 PM
#811   So the technology is fuel cells for natural gunballs 09/15/11 08:06:55 PM
#810   We will see here soon as they have Buzznbrewz 09/14/11 03:11:51 PM
#809   Is someone playing some sort of game with madd scientist 09/14/11 01:56:04 PM
#808   Just letting it be as quiet as it wants. Buzznbrewz 09/09/11 12:10:43 PM
#806   No trades today either! I am thinking db2469 08/30/11 09:01:59 PM
PostSubject