CVF Technologies Corporation (CNVT)

[nd2trd]

That is some awesome news today. It seems like the market makers only run POS stocks though. But this should be a couple of bucks if we just hang on.

[db7]

CNVT CVF Technologies Reports Net Earnings of $5,299,800 (US) or $0.36 Per Share
PR Newswire - April 7, 2006 8:30 AM (EDT)

Also CVF's Position in Biorem Currently Valued at $6.1 Million

WILLIAMSVILLE, N.Y., April 7, 2006 /PRNewswire-FirstCall via COMTEX/ -- CVF Technologies Corporation (OTC Bulletin Board: CNVT) today reported earnings for 2005 of $5,299,800 compared to a loss in 2004 of $1,863,300. This equates to diluted earnings per share of $0.36 for 2005 compared to loss per share of ($0.15) for 2004.

Sales for 2005 were $456,900 compared to sales of $7,957,700 for 2004. This decrease was principally due to no longer consolidating Biorem's results in CVF's consolidation beginning November 24, 2004. Biorem's actual sales for fiscal year December 31, 2005 were $10.7 million (Cdn).

CVF's gross margins increased to 66.2% in 2005 from 46.9% in 2004 as a result of Gemprint margins which normally are higher than the other CVF companies.

As previously announced during December 2005 Gemprint (65% owned by CVF) completed the sale of the business and substantially all of the assets of Gemprint for cash and a royalty agreement. The sale was completed pursuant to an asset purchase agreement which was entered into by Collectors Universe on November 30, 2005, with Gemprint and certain of its major shareholders. Under that agreement, Collectors Universe paid a purchase price consisting of $7.5 million in cash, at closing, and agreed to pay $1 for each diamond registered using the Gemprint process in excess of 100,000 registrations during any year in the next five years. The asset purchase agreement and the sale of Gemprint's business and assets to Collectors Universe pursuant to that agreement were approved by the Gemprint shareholders at a special shareholders meeting held on December 19, 2005.

Aside from the cash disbursed in December 2005 to pay promissory notes together with accrued interest and redemption of the preferred shares the remaining Gemprint cash balance of $2,723,600 is in trust accounts. Of that amount $425,000 is held in escrow per the asset purchase agreement and will be released one half on December 23, 2006 and the other half on December 23, 2007 assuming there are no claims arising from the representations and warranties made by Gemprint. The other part of the cash held in escrow, $2,298,600 is being held until an independent audit of Gemprint is completed at which time a decision will be made on the disbursement of those funds by the Gemprint shareholders.

As part of this transaction CVF received approximately $3.7 million (US) as repayment of its debt and accrued interest owed to CVF by Gemprint. In addition CVF also will receive 65% of all future distributions from the proceeds of this transaction after all the debt and obligations of Gemprint have been paid.

Also in December 2005 the Gemprint goodwill asset of $1.2 million (US) was eliminated from the CVF balance sheet as a result of the Gemprint sale.

Biorem went public in January 2005. As a result of this transaction CVF's holdings in Biorem on March 24, 2006 was valued at $6.3 million. (Biorem is accounted for on the equity basis and therefore carried on CVF's balance sheet at cost or $626,000 rather than its market value of $6.3 million.)

As of March 24, 2006, CVF's holdings in Biorem were worth approximately $0.46/per CVF common share.

RECENT ACHIEVEMENTS OF PORTFOLIO COMPANIES

Biorem -- (27% owned by CVF) Biorem established a new record for sales bookings in 2005 of $15.5 million (Cdn) compared to $11.3 million (Cdn) in 2004, which represents a 38% increase over the same period last year. The record bookings contributed to the growth in Biorem's sales order backlog which increased 92% to $9.4 million as at December 31, 2005 compared to $4.9 million at the end of the previous year. Revenue for the twelve-month period ending December 31, 2005 increased 8% to $10.7 million (Cdn) over the same period in 2004 primarily due to the Company's acquisition of Victor, New York- based Biocube LLC on July 1, 2005.

Net earnings for the year were $344,000 (Cdn), down $628,000 (Cdn) from the prior year due to $600,000 (Cdn) of incremental operating expenses related to an increased Sales, Marketing, and Research and Development program in its Canadian and US offices.

Gemprint(TM) -- (65% owned by CVF) Under the purchase agreement, Collectors Universe agreed to pay $1 for each diamond registered using the Gemprint process in excess of 100,000 registrations during any year in the next five years. Collectors Universe is a provider of value-added services to the high value collectables and diamond markets. Collectors Universe recently announced that its GCAL Diamond Grading Lab had become the official grading lab for ESCADA Fine Jewelry in USA.

Ecoval -- (85% owned by CVF) In 2005 Ecoval began a new initiative in Canada, which will be launched in early 2006, to address the commercial, professional and industrial markets. Canada has been increasingly moving towards natural or environmentally friendly lawn and garden products. A significant percentage of the Canadian population is now under some type of pesticide by-law or ban. Ecoval and its distribution partners will continue to position Ecoval's products as the best option for environmentally sensitive applications.

In Canada, its retail herbicide product continues to be manufactured and distributed by Scotts Canada under license from Ecoval Corporation. Scotts Canada is launching a more extensive sales & marketing effort with the addition of three new herbicide product sizes under its EcoSense brand name. In the US, Ecoval will continue to increase sales by establishing key distributor relationships, establishing potential licensees to generate royalty income and by working to expand sales to its current customer base.

CVF Technologies Corporation is headquartered in Williamsville, New York. CVF is a technology development company, whose principal business is sourcing, funding and managing emerging pre-public technology companies with significant market potential. Founded in 1989, CVF's holdings include three private companies primarily involved in environmental products and services.

Certain statements made in this press release which are not historical facts are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that these statements involve risks and uncertainties, which may cause actual results or achievements to be materially different from any future results and achievements expressed or implied by the forward-looking statements. These risks include, but are not limited to, product demand and market acceptance risks for the products and technologies of CVF's subsidiary companies and investees; the impact of competitive products, technologies and pricing; delays or difficulties in developing, producing, testing and selling new products and technologies; the ability of the company's subsidiaries and investees to obtain necessary financing for their operations and to consummate initial public offerings of their stock; the effect of the Company's accounting policies; the effect of trade restrictions and other risks detailed in the company's Statement on Form 10-SB/A filed with the U.S. Securities and Exchange Commission and any subsequent filings with the Commission.

For more information on CVF Technologies Corporation: See http://www.cvfcorp.com

SOURCE CVF Technologies Corporation

Jeff Dreben, President & CEO, or Robert L. Miller, Chief Financial Officer, both
of CVF Technologies Corporation, [phone]

http://www.prnewswire.com

Copyright (C) 2006 PR Newswire. All rights reserved.

[nd2trd]

Here is the response I got from the ceo...

"As our Press Release indicated we are repurchasing shares as they become available but there are many restrictions we have to follow related to average daily volume and uptick rules etc.

We continue to examine all options we can utilize to improve the share price as well as increase shareholder value."

By the way!!!!!
You post like a turd!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

The 10k should be great.

[pick_the_one]

Biggest volume days for Feb. aqnd March:

2/7/06 - 126,900 at .33
2/27/06 - 97,200 at .38
2/6/06 - 80,000 at .37
3/17/06 - 72,000 at .37

[nd2trd]

[pick_the_one]

I believe they are staying with their commitment to buy back shares!

I believe (mho) that the are buying at slightly below market possibly .35 to .37!

They are no different than you or I; they are trying to buy their stock at the lowest price!

If this were a takeover, then I would expect higher volume, and possibly a higher price!

Cheers!

Pick_The_One

[nd2trd]

I haven't seen a lot of shares being bought back. I know they can only buy back so many shares per day but with all of these zero volume days, it kind of makes you wonder.

[eagle_2975]

CNVT is a corporate raider's dream. Look at the carrying value of its investments:

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

For the years ending December 31, 2004 and 2003 [Expressed in U.S. Currency]

ACCUMULATED NET BOOK
COST AMORTIZATION VALUE
2003 $ $ $
-------- --------- ------------ ---------
SRE 523,816 369,346 154,470
Biorem 162,428 111,784 50,644
Gemprint 2,444,366 1,244,258 1,200,108
--------- --------- ---------
3,130,610 1,725,388 1,405,222
--------- --------- ---------



Unbelievable! Someone should take the company over and boot out these payroll milkers and liquidate the investment positions and cash in for themselves and the remaining shareholders.

[eagle_2975]

Of course maybe if management had more of an incentive to increase shareholder value, the stock would see its true potential:

Directors and Officers 1,752,777 12.4%
as a Group (4 persons) (1)(2)(3)(4)

[eagle_2975]

Yes, it does appear as though they are buying back some stock. The 10-k should be out in just less than 2 weeks and I am hoping it shows a vastly improved balance sheet and fat EPS.


If CNVT REALLY wants to increase the stock price, all that they would have to do is spin-off the remaining stake in Biorem to shareholders or issue a cash dividend. I own a good chunk of CNVT and think that it is drastically undervalued but I believe management is more concerned with fattening their wallets than the wallets of shareholders. Anyone who calls CNVT could see that as the CEO only "checks in once a day or so" and doesn't return shareholder calls. $136K/year salary for a job where you don't even have to show up to work? Not bad. e also has a pretty nice set-up for his son:

"Services Agreement with Michael Dreben. CVF entered into a Service Agreement dated October 2, 2001 with Michael Dreben, the son of Jeffrey I. Dreben, CVF's President, Chairman and Chief Executive Officer. Pursuant to the Service Agreement, Michael Dreben will identify, analyze and assist in sourcing funding and merger and acquisition opportunities for CVF and the Corporations. The Service Agreement also entitles Michael Dreben to receive a cash fee upon the closing of such funding and merger and acquisition opportunities. During 2004 Michael Dreben received a fee totaling $79,503 and 50,000 stock option shares of Biorem as his fee for sourcing one of the investors in Biorem during 2004. Michael Dreben receives an annual salary of $106,000 and has not received any additional warrants, options or shares."


This also sounds like a sweetheart deal:

"8. PENSION OBLIGATION

In recognition of past service contributions by a retired executive officer, the Company has agreed to provide a Cdn. $6,000 [U.S. $5,002 at current exchange rates] monthly pension benefit for life. The accrued pension obligation represents the actuarial value of this benefit. This obligation is adjusted annually based on payments made and changes in actuarial assumptions."

[pick_the_one]

CNVT appears to be buying back stock, like they said they would!

Stock price is holding!

[nd2trd]

I am hoping for a huge move upward once everyone finally realizes how much this is actually worth. Lets just hope that this attracts some more interest after earnings are out.

[eagle_2975]

I think that the stock is worth at least that much. I hope that it gets a much better valuation once the 10-K comes out here in the next month.

[pick_the_one]

Holding up pretty good so far!

Will we see 80 cents ?

[eagle_2975]

sorry, pick_the_one, I didn't see that you had posted that! I can't wait til they release the 10-K in about a month. It should show a very nice profit on the sale of some of their investment stakes.

[eagle_2975]

Press Release for Cvf Technologies Corp


CVF Technologies Corporation Announces Redemption of Series C Preferred Stock
3/3/2006 2:50:26 PM
WILLIAMSVILLE, N.Y., March 3, 2006 /PRNewswire-FirstCall via COMTEX/ -- CVF Technologies Corporation ( CNVT ) today announced that it has redeemed in cash all of its outstanding Series C 6% Convertible Preferred Stock, which was held by The Shaar Fund Ltd., in accordance with its terms. The redemption price was $1.0 million (US), plus accrued and unpaid interest of $121,666 through the redemption date, February 27, 2006. CVF issued its Series C Preferred Stock together with common shares and warrants in February 2004 in exchange for its then outstanding Series B 6% Convertible Preferred Stock.

The company plans to release its 10KSB Annual Filing with its year end financial results for the fiscal year ending December 31, 2005 on March 31, 2006. The company has also begun and is continuing its stock buyback program as announced in a prior press release.

CVF Technologies Corporation ( www.cvfcorp.com) is headquartered in Williamsville, New York. CVF is a technology development company, whose principal business is sourcing, funding and managing emerging pre-public technology companies with significant market potential.

Certain statements made in this press release which are not historical facts are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that these statements involve risks and uncertainties, which may cause actual results or achievements to be materially different from any future results and achievements expressed or implied by the forward-looking statements. These risks include, but are not limited to, product demand and market acceptance risks for the products and technologies of CVF's subsidiary companies and investees; the impact of competitive products, technologies and pricing; delays or difficulties in developing, producing, testing and selling new products and technologies; the ability of the company's subsidiaries and investees to obtain necessary financing for their operations and to consummate initial public offerings of their stock; the effect of the Company's accounting policies; the effect of trade restrictions and other risks detailed in the company's Statement on Form 10-SB/A filed with the U.S. Securities and Exchange Commission and any subsequent filings with the Commission.

SOURCE CVF Technologies Corporation

Robert L. Miller, Chief Financial Officer, or Jeffrey Dreben, President & CEO,
both of CVF Technologies Corporation, [phone]

http://www.prnewswire.com


Copyright (C) 2006 PR Newswire. All rights reserved.

[pick_the_one]

Press Release Source: CVF Technologies Corporation


CVF Technologies Corporation Announces Redemption of Series C Preferred Stock
Friday March 3, 1:42 pm ET


WILLIAMSVILLE, N.Y., March 3 /PRNewswire-FirstCall/ -- CVF Technologies Corporation (OTC Bulletin Board: CNVT - News) today announced that it has redeemed in cash all of its outstanding Series C 6% Convertible Preferred Stock, which was held by The Shaar Fund Ltd., in accordance with its terms. The redemption price was $1.0 million (US), plus accrued and unpaid interest of $121,666 through the redemption date, February 27, 2006. CVF issued its Series C Preferred Stock together with common shares and warrants in February 2004 in exchange for its then outstanding Series B 6% Convertible Preferred Stock.
ADVERTISEMENT


The company plans to release its 10KSB Annual Filing with its year end financial results for the fiscal year ending December 31, 2005 on March 31, 2006. The company has also begun and is continuing its stock buyback program as announced in a prior press release.

CVF Technologies Corporation (www.cvfcorp.com) is headquartered in Williamsville, New York. CVF is a technology development company, whose principal business is sourcing, funding and managing emerging pre-public technology companies with significant market potential.

[eagle_2975]

Has anyone been able to speak to Mr. Dreben or Mr. Miller? I have tried emailing and calling on many occasions and have yet to hear anything back. As I understand it, Mr. Dreben doesn't even work at CNVT's headquarters, he only checks in once a day usually. I wonder if he even works at all anywhere for CNVT??? It is our money that is paying these guys' salaries so I am very curious. Especially snce this stock should be trading north of $.75 or $1 yet it is having a hard time even getting above $.40.

[eagle_2975]

Its nice to see the stock finally resume its upward movement. I can't wait to see how the 10K filing looks. It should be out in about a month.

[eagle_2975]

well, the last ones have been VERY good. I mean how does a company sell an investment for TWICE its market cap yet the stock hardly budges? And that investment wasn't even their best one! And their most recent PR, IMO, was the best....the fact that they have authorized a buyback for over 10 percent(based on these levels) of the shares outstanding.


The stock may be kind of stuck, but there is a lot more bid strength than before. Once some impatient holders are shook lose, this will resume upwards, imo.

[pick_the_one]

CNVT needs some Good

PR'S !

[eagle_2975]

When is cnvt ever going to get its proper respect by the market? Its still ridiculously undervalued.

[pick_the_one]

CNV may be buying back:

1. At a set price of anything under $30 or,


2. AT whatever price they feel is reasonable!

[eagle_2975]

yep, but that can somewhat be at opposition to the goal of the share buyback....to buy back as many shares as cheaply as possible to reduce the shares outstanding of the company.

[rrufff]

It makes sense for the company to do whatever it takes to narrow the spread between market price and underlying net assets.

[eagle_2975]

It hit .37 today. The bid and ask action looked much different today than in the past; the stock seemed to absorb selling into the bid much better than in the past so I wouldn't be surprised if the company had picked up some shares in the buyback today.

[eagle_2975]

This stock is worth at least 2-3x what its at now. I don't care how long it takes to move towards .50 as I can wait. I will even be buying on pullbacks. What a steal this stock is. I mean what other company can you name that just sold one of its investments for more money than the whole company itself is valued at and is buying back shares? As usual, the market makers spike it, then pullback it and try to get the impatient to bail but I'll be using the pullbacks to add even if i end up having so much that I have to make an SEC filing for it lol

[kirbyt]

CNVT looking very good today..Will it carry over to the new year???
tk

[eagle_2975]

I was just going to post the same thing! WAY TO GO CNVT management!!!! I am buying more today. This has to be the most undervalued stock out there by far!!!!

[pick_the_one]

Answer to your question!

Press Release Source: CVF Technologies Corporation


CVF Technologies Corporation Announces Stock Repurchase Program
Friday December 30, 1:47 pm ET


WILLIAMSVILLE, N.Y., Dec. 30 /PRNewswire-FirstCall/ -- CVF Technologies Corporation (OTC Bulletin Board: CNVT - News) today announced that its Board of Directors has approved a $500,000 stock buyback program. The program allows CVF to make up to $500,000 of stock repurchases in open market or private transactions, in accordance with applicable SEC rules. The timing and amount of the repurchases will be determined by CVF's management based on their evaluation of market conditions, share price and other factors. The stock repurchase program may be suspended or discontinued at any time. As of October 28, 2005, CVF had 13,820,396 shares of common stock outstanding.
ADVERTISEMENT


Important factors in the decision to adopt the stock buyback program were the belief that, at recent market prices, the Company's shares represent an attractive investment and good use of CVF's available funds and the confidence that, even after setting aside funds for the stock buyback program, the Company will still have sufficient cash resources to fund its remaining portfolio companies.

The company is under no obligation to repurchase any shares under the stock buyback program and the timing, actual number and value of the shares that may be repurchased under this program will depend on a number of factors, including the company's future financial performance; the company's available cash resources and competing uses for the cash that may arise in the future; prevailing market prices of the company's common stock; and the number of shares that become available for sale at prices that the company believes are attractive. For these reasons, as well as others, there can be no assurance that the Board of Directors will not subsequently decide to suspend purchases of shares under the stock buyback program or terminate the program altogether.

CVF Technologies Corporation is headquartered in Williamsville, New York. CVF is a technology development company, whose principal business is sourcing, funding and managing emerging pre-public technology companies with significant market potential.

Certain statements made in this press release which are not historical facts are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that these statements involve risks and uncertainties, which may cause actual results or achievements to be materially different from any future results and achievements expressed or implied by the forward-looking statements. These risks include, but are not limited to, product demand and market acceptance risks for the products and technologies of CVF's subsidiary companies and investees; the impact of competitive products, technologies and pricing; delays or difficulties in developing, producing, testing and selling new products and technologies; the ability of the company's subsidiaries and investees to obtain necessary financing for their operations and to consummate initial public offerings of their stock; the effect of the company's accounting policies; the effect of currency exchange risks and other risks detailed in the company's Annual Report on Form 10-KSB and any subsequent SEC filings.

For more information please contact: http://www.cvfcorp.com

[eagle_2975]

Now the big question is how the company will use the cash to benefit us shareholders.

[pick_the_one]

Press Release:

CVF Technologies Corporation Announces Completion of the Sale of Its Subsidiary Gemprint Corporation
Friday December 23, 8:44 am ET


WILLIAMSVILLE, N.Y., Dec. 23 /PRNewswire-FirstCall/ - CVF Technologies Corporation (OTC Bulletin Board: CNVT - News) reports that its subsidiary Gemprint Corporation (65% owned by CVF) has completed the sale of the business and substantially all of the assets of Gemprint Corporation, consisting primarily of a patented laser-based technology for non-invasive diamond identification which Gemprint uses to digitally capture the unique refractive light pattern (or "gemprint") of each diamond that is processed with that technology.
ADVERTISEMENT


The sale was completed pursuant to an asset purchase agreement which, as previously announced, was entered into by Collectors Universe on November 30, 2005, with Gemprint and certain of its major shareholders. Under that agreement, Collectors Universe paid a purchase price consisting of $7.5 million in cash, at closing, and agreed to pay $1 for each diamond registered using the Gemprint process in excess of 100,000 registrations during any year in the next five years. The asset purchase agreement and the sale of Gemprint's business and assets to Collectors Universe pursuant to that agreement were approved by the Gemprint shareholders at a special shareholders meeting held on December 19, 2005.

As part of this transaction CVF will be receiving approximately $3.5 million (US) as repayment of its debt and accrued interest owed to CVF by Gemprint. In addition CVF also will receive 65% of all future distributions from the proceeds of this transaction after all the debt and obligations of Gemprint have been paid.

Collectors Universe, Inc. is a leading provider of value added services to the high-value collectibles and diamond markets. The Company authenticates and grades collectible coins, sports cards, autographs, stamps, currency and diamonds. The Company also compiles and publishes authoritative information about United States and world coins, collectible sports cards and sports memorabilia, collectible stamps and diamonds. This information is accessible to collectors and dealers at the Company's web site, http://www.collectors.com, and is also published in print.

CVF Technologies Corporation headquartered in Williamsville, New York. CVF is a technology development company, whose principal business is sourcing, funding and managing emerging pre-public technology companies with significant market potential. Founded in 1989, CVF's holdings principally include three companies involved primarily in environmental products/services.

Certain statements made in this press release which are not historical facts are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that these statements involve risks and uncertainties, which may cause actual results or achievements to be materially different from any future results and achievements expressed or implied by the forward-looking statements. These risks include, but are not limited to, product demand and market acceptance risks for the products and technologies of CVF's subsidiary companies and investees; the impact of competitive products, technologies and pricing; delays or difficulties in developing, producing, testing and selling new products and technologies; the ability of the company's subsidiaries and investees to obtain necessary financing for their operations and to consummate initial public offerings of their stock; the effect of the Company's accounting policies; the effect of trade restrictions and other risks detailed in the company's Statement on Form 10-SB/A filed with the U.S. Securities and Exchange Commission and any subsequent filings with the Commission.

[kirbyt]

Thanks for "welcome"..we looking pretty good so dar today..I would also like .40 for Chrismas..Friend of mine (who is chart expert) says it looks like a possible .50 for year end.. one can hope!!
tk

[eagle_2975]

Hey kribyt, welcome! It is trading nicely; more market makers are jumping on the bid and it traded better than average volume today. I'm hoping for $.40+ by Christmas. Or if they really want to give me an early christmas present, i would love to load up more under $.20 but it doesn't look likely given all of the recent news.

[kirbyt]

Why no post?? CVF moving up today.. .03
tk

[eagle_2975]

It is drifting up with little action at the bid. .25 x .26 now. Hopefully the sellers are gone.

[Wiseman68]

eagle- thanks for the links I will check it out and let you know. Good luck with the markets

[eagle_2975]

is there anyway to contact him to see if he still has a position in the stock and if so, if he still recommends it and maybe could do an update???


"I agree the stock is cheap, but what can management do to get the stock to higher prices for the shareholders? It seems that someone keeps selling."



I think the key for the company again, is to do a share buyback. It would only take $500k-$1M to really get this back up to fair value, imo. That is money that they should easy have after the Gemprint sale is finished, the convertible debt is paid off, and some more Biorem is paid off.

[chugaloo]

REPORT FROM CHRIS LAHIJI

CNVT WAS HIS #1 PICK FOR 2005 and ironically his worst performer out of the 31 companies he selected this year.

The kid is as sharp as they come, because he is up around 26% YTD on all the other selections. Here is his report from last year.

I agree the stock is cheap, but what can management do to get the stock to higher prices for the shareholders? It seems that someone keeps selling.

REPORT ON CNVT

1. CVF Tech (CNVT)


This is the third time this year I’m repeating myself. If you listened the first two times I said it, you would be doing well on this investment. I still don’t think it’s too late to buy this stock and prosper from their holdings.

I must agree that in the US, a single person can purchase stock into 25,000 different entities. Out of all these companies that one can invest in, I personally can't find one more compelling to look at than CVF Tech (CNVT).

The assets of CVF alone are worth more than four times what its stock is currently trading.

Its NAV (Net Asset Value), which means the dollar value of a single share, based on the value of the underlying assets of the fund minus its liabilities, divided by the number of shares outstanding is .85 cents.

That is cheap relative to where the stock is currently trading at. I recommended this stock at .34 cents a few months ago, and am recommending it again because of some significant news.
But first, here is the summary of what the company does.

CVF is a company that invests in other companies similar to a BDC (Business Development Company).

It currently owns large portions of four separate and very niche businesses:

• Biorem: Makes bio-filtration products that control and reduce air pollution and odor removal (mostly sewage systems) http://www.biorem.ca

• Gemprint: Manufactures machines that uniquely identify diamonds and other precious gems using reflective laser light. http://www.gemprint.com

• SRE Controls: Specifically makes software-driven electronic controllers for electric vehicles and fuel cells http://www.srecontrols.com

• Ecoval: Markets biodegradable, organic, non-toxic pesticides and fertilizers under the name "Nature's Glory"
Since CVF is already in the fund and I personally own it, I have spoken with the CEO and Founder Jeff Dreben on several occasions, mostly to ask him whether his stock was "too good too be true" at these current levels.

The new updating interview is towards the end of the report.
I'll let the members decide whether or not this is one of the best bargains in the entire stock market right now.
Well, a lot has changed since this report came out during the summer.

First off, Biorem is having an IPO that is set to launch in the next week or two. It will be traded on the Toronto Exchange because it is first and foremost, a Canadian company.
Shareholders of CVF will get shares in Biorem, adding significant value to the stock.

CONCLUSION

I personally own a lot of shares given the simple fact that you're getting your money's worth when buying CNVT.
Many people have been frightened of the descent it has had this year, and it makes a great opportunity for those who currently buy at these levels in my opinion.
Biorem alone is worth almost three times what the stock is currently trading at, and they have investments in three other companies (Gemprint, Ecoval, and SRE), of which another one is profitable.

The decision for me is easy to make. CVF is very cheap. I'm buying.

[rrufff]

I'm right in your ball park and looking to add. Let me know if you get a response from management.

Listing BIOREM on AMEX might be a good idea as presumably they are already in compliance with most of SOX and other US requirements.

[eagle_2975]

Oh its undervalued, no doubt about it to me. I too was thinking something along the lines of a spin-off, but on the OTCBB, usually those are just events that cause temporary spikes in the price and then the stock just drops again. Now, if CNVT were to somehow get Biorem listed on the OTCBB and spin-off the remaining ownership to current CNVT holders, then we have REAL value. I personally would love a share buyback, which reallychanges the supply and demand in the market and leads to higher highs and lower lows.

I called the company a few days ago too, and have yet to receive a response yet.

How many shares do you own? I own 47,001 (from partial fills) myself, and 31,400 for my mom's account that I trade for. I plan on adding on any pullbacks.

[rrufff]

The nice thing about this is that we could go back and forth with theories but there is so much room for error and improvement given the underlying valued vs the share price.

The conversion price of $1 a share now looks interesting as the price per share was much higher at the time. The thing really tanked when they got knocked off the AMEX. The problem seemed to be that their balance sheet numbers do not reflect the current price, but are historical costs. The exchange would not make an exception to the required test at that point.

I called the company a couple of months ago and they indicated that they were working on something to make the share price more reflective of the underlying assets. I figure some sort of spin off perhaps or, as you say buy back would do it.

[eagle_2975]

I think CNVT is wise to be selling off its Biorem stake. Its a nice little company, imo, but it is overvalued based on price to sales and price to earnings. It is also difficult to get balance sheet information on the stock, but from blurbs in earnings release PRs, I think that it is also overvalued based on its price to book value. Anything over $2-$2.50, CNVT should take it off the table, IMO.

They are looking to post about $10.5-$11M in revenues for 2005, with a little over 10M shares gives it about $1.05-$1.10/share in revenues. With a strong backlog and good balance, it warrants about a 2X price to sales ratio while it is trading at more like a 3x ratio. They posted .03/share in earnings for the first 3 quarters of 2005 so its overvalued based on a p/e ratio for sure. So I can see why CNVT is selling off its stake slowly and I'd like to continue to see them do so. That is just my opinion though.

[eagle_2975]

They have some convertible preferred stock coming due in February, so I think they will use ~ $1.12M of the proceeds to pay that off. I have copy and pasted the news release about that article below. They got a great deal when they restructured that debt, imo. The balance sheet will be much cleaner once the Gemprint deal is done and that preferred stock is paid off, but I hope they use $500K-$1M in cash to buyback some stock. There's just very little volume down here and the stock will be stuck here without a change in te supply and demand structure in the market, imo, as the PRs only seem to get a quick bump in price that is sold off.



WILLIAMSVILLE, N.Y., Mar 8, 2004 /PRNewswire-FirstCall via COMTEX/ -- CVF Technologies Corporation ( CNV ) and the holder of its outstanding Series B Convertible Preferred Stock entered into a transaction to restructure the Company's equity.

On February 27, 2004, the holder exchanged its Series B Convertible Preferred Stock with a stated value of $3,390,000 and accrued dividends of approximately $630,000, which was accruing dividends at an annual rate of 10%, for 1,000,000 shares of CVF common stock and a new Series C 6% Convertible Preferred Stock with a stated value of $1,000,000, convertible into common stock at $1 per share. The 6% annual dividend will accrue for two years and be payable on February 27, 2006 and semi-annually thereafter. The Series C Preferred will be subject to mandatory redemption on February 27, 2006; however, CVF's obligation to redeem will be limited to cash available to it at that time in excess of one year's prospective working capital. CVF also issued to the former Series B holder a three-year warrant to purchase 100,000 shares of CVF common stock at an exercise price of $.35 per share.

This represents an important and beneficial development for CVF and all of its shareholders. The former Series B holder's agreement to restructure its preferred stock significantly streamlines the Company's capital structure, largely eliminating the overhang on CVF's common shares and creating a stronger company going forward. CVF appreciates the holder's professionalism throughout this process, and its willingness to work constructively on behalf of the Company and the interests of all shareholders and other constituencies.

Certain statements made in this press release which are not historical facts are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that these statements involve risks and uncertainties, which may cause actual results or achievements to be materially different from any future results and achievements expressed or implied by the forward-looking statements. These risks include, but are not limited to, product demand and market acceptance risks for the products and technologies of CVF's subsidiary companies and investees; the impact of competitive products, technologies and pricing; delays or difficulties in developing, producing, testing and selling new products and technologies; the ability of the company's subsidiaries and investees to obtain necessary financing for their operations and to consummate initial public offerings of their stock; the effect of the Company's accounting policies; the effect of trade restrictions and other risks detailed in the company's Statement on Form 10-SB/A filed with the U.S. Securities and Exchange Commission and any subsequent filings with the Commission.

SOURCE CVF Technologies Corporation

Jeffrey I. Dreben, President & CEO, or Robert L. Miller, Chief
Financial Officer, both of CVF Technologies Corporation, [phone]

http://www.cvfcorp.com


Copyright (C) 2004 PR Newswire. All rights reserved.

[rrufff]

Here is an older re fund purchase of large block of Biorem shares.

Expansion Capital Partners Announces the Purchase of an Additional 200,000 Shares of BIOREM Inc.

SAN FRANCISCO, Oct 19, 2005 (BUSINESS WIRE) --
Clean Technology Fund II, LP ("Clean Technology"), through its General Partner, Expansion Capital Partners II, LLC, reported that it acquired 200,000 common shares of BIOREM Inc. (TSX VENTURE:BRM) ("BIOREM"), representing approximately 2.0% of the outstanding common shares of BIOREM. The common shares were acquired by way of a private agreement with an existing shareholder.

After the transaction, Clean Technology, along with its initial fund, Clean Technology Fund I, LP, owns 1,200,000 common shares of BIOREM, representing approximately 11.7% of the outstanding common shares of BIOREM.

Clean Technology owns the common shares for investment purposes. Clean Technology may, in the future, take such actions in respect of its holdings as it deems appropriate in light of the circumstances then existing, including the purchase of additional common shares of BIOREM or the sale of existing holdings, through privately negotiated transactions or through the open market.

Bernardo Llovera, a General Partner of Expansion Capital Partners II, LLC, will continue to serve on the board of BIOREM, where he has been a director since October 2004.

About Expansion Capital:

Expansion Capital Partners is a venture capital firm that invests in expansion-stage clean technology companies. The firm specializes in energy, advanced materials, water and wastewater and manufacturing efficiency. For more information, visit www.expansioncapital.com or contact Bernardo Llovera at [e-mail].

About BIOREM:

BIOREM(R) manufactures BIOSORBENS(TM) biofilter media and is a leading supplier of biofilters for air pollution control in municipal and industrial applications, including the recently acquired BIOCUBE(R) modular units. With over 400 installed systems and over a decade of experience, the company's biofilters are the technology of choice for odor control at Wastewater Treatment Plants across North America. www.biorem.biz.

For further information (including obtaining a copy of the early warning report filed as a result of this transaction), please contact:

Bernardo Llovera [phone] 90 Park Avenue, Suite 1700 New York, New York U.S.A. 10016
BIOREM Inc. (TSX VENTURE:BRM)
SOURCE: BIOREM Inc.
Expansion Capital Partners II, LLC Bernardo Llovera [phone] 90 Park Avenue, Suite 1700 New York, New York U.S.A. 10016
Copyright Business Wire 2005

[rrufff]

Hi Eagle - here is my post. Welcome other comments. I took a stab at how this affects value from some accounting standpoints.

In terms of cash, I believe they get about .40 in cash plus incentive payments, clearly much more than the current share price even after today's pop.

The more difficult calculation is to try to figure out the increase in book value and the increase in the prior published net asset valuation.

I see that they carried goodwill from the acquisition of gempoint in the last 10-K as Cost 2.4 million less Accumulated Amortization of 1.2 million for a book value of about 1.2 million.

Further the PR, says that the first 3.5 million is going to CNVT to pay down debt. This should not increase book value, but obviously substituting cash for debt is a critically good thing for operations.

I have not been able to find the calculations that show how they valued the business before the sale.

I'm just guessing but it looks like they get 3.5 million, plus accrued interest, in cash right off the top. Of the remaining $4 million, CNVT gets 65% or 2.6 million.

Plus performance payments which are impossible to value at this point.

If the goodwill figure is what was used, then my calculation is that this should add about .09 per share to book value.

Again, I'm looking at the bigger picture which is that now they have cash instead of a promise from an investee company. This perhaps gives them enough to survive and further the business plan.

The Net Asset Value goes up by some figure. Prior PR's have indicated that this is about .85 per CNVT share.

Again - this is just speculation on my part, but it seems to make some sense.

[rrufff]

Gempoint - I figure they pick up about .40 in cash. I did a more complicated guesstimate from an asset and balance sheet and will try to find it.

Bottom line - .40 a share in cash represents a real opportunity and should assure their survival.


As you posted here, this is a bonus as Gemprint was a drag on them and now they actually share in success with performance payments over and above the cash they are receiving.

http://www.investorshub.com/boards/read_msg.asp?message_id=8685339

[eagle_2975]

well they are an investment company with holdings primarily in 4 companies I believe, one of which has went public since they started investing in them. That company is named Biorem and trades in Canada on the Vancouver stock exchange:

http://finance.yahoo.com/q?s=BRM.V


This company really is an example,IMO, where the sum of its parts is worth much more than the whole. They announced the sale of one of their companies last week. That led the price to spike to $.32 and i still think that is way too cheap. I believe last year the company estimated its net asset value at $.75 or $.85 although i am having a hard time find where that was estimated. Anyways, here are a couple of recent press releases that I have copy and pasted for you. I have a sizable position in this stock and its much better bet than the other stock board we've seen each other on without a doubt in my mind :). If CNVT management decides to use some of the proceeds of sales of some of their investments to do a share buyback, the stock sees $.75, IMO.


Thanks for posting and be sure to stay around!


Press Release for Cvf Technologies Corp


CVF Technologies Corporation Reports Results for The Third Quarter 2005
11/14/2005 6:15:33 PM
WILLIAMSVILLE, N.Y., Nov 14, 2005 /PRNewswire-FirstCall via COMTEX/ -- CVF Technologies Corporation ( CNVT ) today reported results for the third quarter of 2005. Net income of $137,600 or $0.01 income per share, was reported for the first nine months of 2005 compared to a net loss of $609,200 or ($0.05) loss per share, for the first nine months of 2004. The profitability of CVF during the period was due primarily to the sale of some of its holdings in Biorem. CVF's business model generates profitability as its holdings increase in value and CVF decides to realize on some of its profits. Also, as its holdings become more profitable CVF may receive income through dividend payments.

When CVF no longer consolidates a key holding such as Biorem, then the revenue growth of CVF will no longer be evident in its consolidated figures, but can be found in the footnotes to its financials and its 10-QSB.

Net loss for the third quarter of 2005 decreased by 50% or $87,200 to $86,100 or ($0.01) loss per share, compared to a net loss of $173,300 or ($0.01) loss per share for the third quarter of 2004.

Since CVF no longer consolidates Biorem's and SRE's revenue, CVF's revenue for the nine months ended September 30, 2005 was $340,900 compared to revenues of $7,027,400 for the prior year's period.

As a result of Biorem going public on January 21, 2005 CVF's 28% ownership position in Biorem is valued at approximately $6.9 million (US) or $0.50 value per CVF common share, as of November 11, 2005. CVF can best be valued by looking at growth prospects for its portfolio companies and the resultant increase in the value of its holdings, as has been demonstrated with Biorem. CVF is examining a number of options as to how it can pass this increased value on to its shareholders as it is not currently being reflected in its share price.

RECENT ACHIEVEMENTS OF PORTFOLIO COMPANIES

Biorem -- (28% owned by CVF) Biorem's revenue for the nine months ended September 30, 2005 was $7,364,800 (Cdn) with a net profit of $251,800 (Cdn). New orders of $2,200,000 (Cdn) were booked for the third quarter 2005 increasing Biorem's backlog to $9,500,000 (Cdn). These bookings and increased backlog numbers are indicative of Biorem's excellent growth prospects in the coming months as these bookings and backlogs become recognized as revenue.

Commenting on the third quarter revenue increase of 9%, Brian Herner, Biorem President & CEO said, "Revenues continue to grow, quarter over quarter, and we are beginning to close the gap over the prior year. 2004 revenue benefited from a single, large industrial order of $3.7 million (Cdn), which was not repeated in 2005. This business has been replaced with increasing orders for municipal applications. Our order backlog has built well this year and will positively impact our revenue growth going forward."

Further commenting on the third quarter results Brian Herner, Biorem President & CEO said, "While somewhat slower than anticipated, the market growth for our products is beginning to accelerate in the US and Internationally. Orders have been received from Israel and Jordan in Q3 and the acquisition of Biocube brings us stronger International presence. New staff has been added to develop the market in China and additional sales and marketing resources are planned for the North American market. With a solid backlog, additional sales resources and improved market accessibility, I am confident that accelerated revenue growth will follow."

On July 1, 2005 Biorem purchased the business and assets of Biocube LLC, Victor, NY through a new wholly owned US subsidiary, BIOREM Environmental Inc. Biocube manufactures a unique line of modular biofilters for odor control in the small to intermediate airflow range and has more than 300 systems installed worldwide. Biocube sales during the calendar year ended 2004 were $3,000,000.

Ecoval Corp -- (85% owned by CVF) Ecoval's licensing agreement with Scotts is continuing to develop as Ecoval's herbicide is now available in every major chain in Canada, including both Walmart & Home Depot, for the first time. Scott's is planning to make the herbicide a key part of their environmentally friendly product line in 2006 in Canada as a result of the strong acceptance it received in its test year of 2005. Ecoval is also negotiating with other distributors for the professional and governmental markets in the US and Canada.

What is particularly relevant for Ecoval is the trend of municipalities in Canada and the U.S. banning the use of chemical pesticides, while exempting Ecoval's natural products. We expect this trend to manifest in a significant increase in Ecoval's sales for 2006 and beyond.

Gemprint(TM) -- (65% owned by CVF) Gemprint is continuing to work on the implementation of its distribution agreement with The Laksmi Group in India (one of the largest wholesalers and manufacturers of diamond jewelry products in India). Gemprint is also continuing to negotiate similar agreements with major North American diamond distributors. Gemprint is also in the process of setting up a sales & marketing office in New York and has hired an individual to head up its US presence.

Gemprint's identification technology may also benefit from Homeland Security regulations in the U.S. concerning the flow of illegal diamonds funding terrorist organizations as well as civil wars in Africa.

CVF Technologies Corporation is headquartered in Williamsville, New York. CVF is a technology development company, whose principal business is sourcing, funding and managing emerging pre-public technology companies with significant market potential. Founded in 1989, CVF's holdings include four private companies involved primarily in environmental products and services.

Certain statements made in this press release which are not historical facts are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that these statements involve risks and uncertainties, which may cause actual results or achievements to be materially different from any future results and achievements expressed or implied by the forward-looking statements. These risks include, but are not limited to, product demand and market acceptance risks for the products and technologies of CVF's subsidiary companies and investees; the impact of competitive products, technologies and pricing; delays or difficulties in developing, producing, testing and selling new products and technologies; the ability of the company's subsidiaries and investees to obtain necessary financing for their operations and to consummate initial public offerings of their stock; the effect of the Company's accounting policies; the effect of trade restrictions and other risks detailed in the company's Statement on Form 10-SB/A filed with the U.S. Securities and Exchange Commission and any subsequent filings with the Commission.

For more information please contact: http://www.cvfcorp.com

SOURCE CVF Technologies Corporation

Robert L. Miller, Chief Financial Officer, [phone], or Jeffrey Dreben,
President & CEO, [phone], both of CVF Technologies Corporation

http://www.prnewswire.com


Copyright (C) 2005 PR Newswire. All rights reserved.


Press Release for Cvf Technologies Corp


Sale of Gemprint Corporation subsidiary for USD7.5m announced by CVF Technologies
11/30/2005 11:45:14 AM
Nov 30, 2005 (M2 EQUITYBITES via COMTEX) -- Technology development company CVF Technologies Corporation (OTC Bulletin Board:CNVT) has announced that it has entered into an asset purchase agreement that provides for Collectors Universe to acquire the business and substantially all of the assets of Gemprint Corporation.

The assets of Gemprint Corporation primarily include a patented technology for non-invasive diamond identification.

Collectors Universe has agreed to pay a purchase price consisting of USD7.5m in cash, at closing, plus a performance payment of USD1 for each diamond registration using the Gemprint process in excess of 100,000 registrations during any year in the five-year period immediately following consummation of the acquisition, the company said.

In addition CVF will receive approximately USD3.5m on closing from Gemprint as a repayment of debt and accrued interest owed to CVF by Gemprint. CVF will also receive 65% of all distributions that are expected to be made to Gemprint shareholders from the remaining proceeds of this transaction as well as from future performance payments, the company said.

Comments on this story may be sent to [e-mail]


(C)2005 M2 COMMUNICATIONS LTD http://www.m2.com




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[Wiseman68]

anyone here that can provide some dd on this company