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Stefanod, Excellent find!
I was wondering about that issue and posted my question earlier.
Looks like, one way or the other, we will lose the "E" soon.
VV
Release tells us they are intentional, alive and kicking...
Does anyone know why this stock still has the trailing "E"?
Their last filing was a 10Q for the quarterly period ended December 31, 2009
Since the 1st quarter is not completed, it looks like they are current on filings.
Therefore, there must be some other reason we still have the "E".
Government/Exchange screw up? That would be my first guess.
Or does Panglobal have to formally request its removal?
VV
fatherofseven, You should re-post that info on some of the trader forums.
Go where the money is, and where potential buyers hang out.
I am sure most folks on this forum already own shares. And probably very familiar with the story.
Just a suggestion...
VV
BELOW IS RE-STATEMENT of Charles Lesser's appointment to CEO. Given the economy of last year, and his very recent appointment only 6 months ago (August 17, 2009)... look to: (1) The company's solid platform and plan ($10M in backlog, 48+ employees, streamlinling for profitability), (2)Charles Lesser and Kelly Fountain's proven experience... IMHO = major buying opportunity....
New website will re-position PNGB... stay tuned....
-----------------------------------------
Panglobal Brands, Inc. (PNGB) has appointed Charles Lesser as Chief Executive Officer effective August 17, 2009. Mr. Lesser has been Chief Financial Officer since October 22, 2007 and will retain that additional office. Previously, Mr. Lesser was the Chief Financial Officer and a consultant to True Religion Apparel, Inc. and its wholly-owned subsidiary, Guru Denimdenim
While at True Religion Apparel, Inc., he helped grow the premium jeans manufacturer from a start-up venture to $140 million in sales revenue and to a $500 million market capitalizationMarket Capitalization
Ms. Kelly Fountain joined Panglobal Brands, Inc. on June 8, 2009 as the new President for the Scrapbook product division, but will also assume responsibility for the Sosik product division. Ms. Fountain was previously Vice President with Koral Industries, Inc. where she worked approximately 21 years and was responsible for Design and Merchandising for this $160 million private apparel company. Kelly attended the Fashion Institute of Technology in New York New York, state, United States
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and brings to Panglobal over 30 years of apparel experience in design, sales and merchandising. Kelly's focus will be to re-structure these divisions and to create opportunities across all divisions to promote product and sales growth. Rounding out the management team is Mr. Gary Bub, head of operations. Gary has 20 years of apparel company experience, primarily in production and operations.
About Panglobal Brands Inc.
Panglobal Brands, Inc. is committed to building a diverse stable of apparel brands, capitalizing on opportunities to participate in the hottest fashion trends as they happen. Our business strategy is to create a balance with dynamic branded products and the traditionally more stable private label apparel business by selling branded products through specialty retailers and by running a private label division catering to department store chains. Our current brands include: SoSik, which represents affordable fashions for the burgeoning junior market; Scrapbook and Crafty Couture, which are aimed at the teen and junior markets and features mix and match knits; Tea & Honey, a casual ladies wear collection; and Haven, a value oriented...
This strategy plus a management team with significant apparel industry experience, enables Panglobal Brands to bring eye-popping product lines to market at competitive price points.
PNGBE getting ready to rumble... this isn't a vaporous pinkie-corporate-pretend-to-be... $10M backlog, 48 employees, proven industry successful management, popular brands, streamlining for success.... New site soon... solid basis to believe she's going to fly imho...
Cadillac... good challenges. It's clearly not a "momo" play, nor is it a "must buy... don't miss out!" HOWEVER, unlike 95% of all others in the PK/OTC market, they have: (1) A real company--- 48 employees, (2) A real/great product line (do research there- their in high demand--- $10M backlog!), (3) A reputable CEO who has been very successful in this industry.
In addition, (1) They're trading at the bottom, (2) People I very much respect, in touch with them... are very optimisitc; (3) A new site will correspond to the next phase... while it's a difficult market, they've already tangled with it, and are savy in positioning themselves for success....
I don't know about other Bio companies... maybe HNAB? Which when I pushed it, went from .18 to .29...??
Greg
FoS
father: With all due respect,currently this equity has little volume,a huge spread between its bid and ask price,and few market makers,none of which are anything more than trading houses trading numbers. All of this contributes to the fact that the stock lacks retail sponsorship, a key ingredient if this security will "ever roar", as you so elequently refer to it. By the way, didn't you claim the same thing recently for a small bio.company which has yet to do anything as well?
father: With all due respect,currently,this equity has little volume,a huge spread between its bid and ask price,and few market makers,none of which are anything more than trading houses trading numbers. All of this contributes to the fact that the stock lacks retail sponsorship, a key ingredient if this security will "ever roar", as you so elequently refer to it. By the way, didn't you claim the same thing recently for a small bio.company which has yet to do anything as well?
PNGB's a lion getting ready to roar...
The Bid/Ask on this is going to get stronger and stronger...
Thanks fatherofseven!
I'm seeing L2 via Scottrade Elite: PNGBE - .02 x .029, then .0001 x .18...
Has anyone else had issue's with viewing the L2 over the course of the past two weeks with this ticker?
Doesn't show any mm's for "PNGB" or "PNGBE" what gives?
PNGB!!!! Now's the time for this one... investors much more wise/successful than I ... who know this company... got in WAY above the current level... can now purchase the same amount of shares at 25% the other price. She's on the verge of roaring back....
fatherofseven, Yeah, the company has "clawed their way back"...
...to become more viable again, after a minor downcycle of a few weeks. And now "all the news that's fit to print" is recently made available. Now current with their filings, all of the info needed for Fundamental Analysis is in place.
I am far more comfortable with Technical Analysis. I like charts and I understand them more readily. The main point is that the chart is showing that the trading pattern, PPS, etc. is all primed and set to reflect the progress on the Fundamental side. The chart is confirming the FA and it's ready to make a move.
The two analysis methods are complementing each other perfectly. It doesn't always happen this way. But this stock has been somewhat out-of-favor for a while. So it is absolutely ripe for accumulation by savvy investors. I guess that would only be you and me, so far. LOL!
Good Luck to All Longs!
VV
Great DD and commentary VV... I really like this company. Solid. Integrity. Real (attractive) product. Real plan. On the move. Their release portrayed the market more bleak than it is... greater, not lesser consumer demand is on the horizon... and particularly these first few weeks folks ahve more discretionary with tax-returns... They need to update their website asap... which we know they're working on....
I just added another 20K shares at the price I wanted.
MM's are being very accommodating today. But I bet they won't be next week when we lose the dreaded "E" again.
From looking at the chart this really looks like it has bottomed, and is just getting ready to make a nice move upward.
http://stockcharts.com/h-sc/ui?s=PNGBE&p=D&yr=0&mn=3&dy=0&id=p04508323165
All we need is some volume to come in here. Those two, back-to-back, reasonably good financial reports just filed are going to make the difference. Now, once again, the company is fully reporting and current with their filings. We just need to get the word out on the positive progress made here. That means spreading the word to other forums.
In another 7 weeks we'll be expecting the 1st Qtr 2010 results. I am betting that will push the PPS up to at least twice what it is now. It was selling at that PPS just 6 weeks ago and that seems to be fair-market-value. So a solid 100% gain in 7-8 weeks suits me just fine.
All just my opinion...
VV
Currently UP 72% on the day, so far on very lite volume.
So I guess they have the Lucky "E".
Stock goes up when it's on, and down when it's off.
Go figure!
VV
YOU ARE RIGHT! Panglobal is poised for success!Unlike most other PK/OTCBB's... this is a SOLID operation... 48+ employees... HUGE profit-ability... and HUGE demand... $10M in backlog sales!! They're just more honest than any other release... they could put that up front and it would really tell the heart of the story...!
It's not going lower... this entry level is solid looking WAY UP!
I noticed that too, that alone is HUGE IMHO!
Went back over the 10-Q today and noticed some things that were positive that I hadn't noticed when I initially saw the doom and gloom of them loosing income.
First they have a backlog of 10 million dollars worth of sales through June of this year. In the past they had always had a backlog but never this large.
Several independent websites I went to had nothing but praise for Panglobals line most especially Sosik.
Charles Lesser is loaning this company money which means he must have hope for it.
Even though they almost had double the sales last year they earned almost the same amount of money on less sales, telling me that their cost cutting is working and that their margins are improving they've always had good products but their margins were always way low.
They bought 22k of new computers office equipment ext. something that a company does not believe in the future does.
I expect a profit next quarter!!!!
fatherofseven, Sorry if I sound a little pushy or rude.
I have money to invest. And I am sitting here all day watching the WRONG symbol. It finally dawned on me what's happened. Crazy!
Now that the "E" is back the PPS is moving up. Seems counter-intuitive if you ask me.
So I will just wait for it to come off again. Then the PPS should probably go right back down again.
Dang!
VV
All you say is what I mean by "limbo"... not the ultimate determination RIGHT THIS SECOND of what it is (of course), but clearly we've seen the "E shuffle" twice in the past few days... from E, without E, back to E... now shouldn't be E... but there's also the systematic update/status per how our systems read it...
Seems to me it is a binary situation. Very simple question.
And "limbo" is not the answer I am looking for.
The symbol either has the "E" on it or it doesn't.
They received their trailing "E" about a month ago. And when they published the annual 10K on Feb16 it came off. Then TWO DAYS AGO someone posted here that they were getting the "E" again, AS OF Feb25. That's today.
Yesterday afternoon, minutes after the market closed, they published their quarterly 10Q, for the quarterly period ended December 31, 2009.
And now, one day later, it APPEARS the trailing "E" is back on again. WHAT!!!
So which SEC filing is late now? As far as I can tell they are current and shouldn't have this "E". If true, then somebody F'D Up bigtime.
VV
She's in limbo... but with release of Q and K, should be definitively up to date (No "E")... CLEARLY this company means business... not playing games... Q tells me they're alligning everything for long-term success... streamlining... 48 employees... Now makes sense why they took website of line, cutting out the fat and focusing on the money-making gems....
BIG THINGS COMING I think....
What is the current symbol status here?
"Got-E" or "Not-E" ?
I am getting quotes on both.
VV
STRONG HANDS... .024 x .052 Lock in low for next run!
A "bad quarter" for PNGB is most PK/OTC's DREAM!... a SOLID operation with 48 employees... GREAT products... GREAT management... and how about the fact that THEY REPORT! SERIOUSLY! How many PK/OTC pps are based upon vapor-promises of POSSIBLY attaining what they PROMISE?
Panglobal Brands is DOING IT! They're a REAL DEAL, VIABLE COMPANY... led by a guy who managed other $$MULTI-MILLION clothing operations...
CLEARLY the current pps here is so undervalued...
NEW SITE COMING SOON!
SEC Form 10Q filed, for quarterly period ended December 31, 2009
http://knobias.10kwizard.com/filing.php?param=&ipage=6785062&DSEQ=1&SEQ=&SQDESC=SECTION_BODY&exp=
VV
This baby is off-the-charts ROCKING!!!!
who the hell is selling this stock whoever is is pissing me off royaly.
2/25/2010
it was on todays daily list.
Is that old? or referring to recent transition from PNGBE to PNGB? Still accessing under PNGB symbol (vs. PNGBE)..?
pngb gets the e
13:02 2/25/2010 PNGB PNGBE Panglobal Brands Inc. Common Stock Delinquent **
The latest SEC Form 10K filing, accurate through 9/30/09, says:
"Common stock $0.0001 par value, 600,000,000 shares authorized, 49,016,71 and 37,671,710 shares issued and outstanding at September 30, 2009 and September 30, 2008, respectively "
http://knobias.10kwizard.com/filing.php?param=&ipage=6765691&DSEQ=1&SEQ=&SQDESC=SECTION_BODY&exp=
Don't know why you would rely on Google and not go to the source data.
Form 10Q filing is now late but that should provide updated info. OR you can call the Transfer Agent and get the number accurate thru today.
VV
I dont think Goggle is right. I thought that there was only a little over 49 million shares outstanding. Have to check further.
i'm holding strong to but i noticed that google finance said that there were 98 million shares out which I'm not thrilled about but given the economic status of the company is nessicary.
I agree, I'm still holding strong!
PNGB WOW! At this level will easily 3-5x...! A REPUTABLE company with BIG PRODUCTS, ESTABLISHED market with over 40 employees... CEO who has piloted other fashion companies to multi-million success... now BACKLOG order of $7 Million... make sure to check out posts from over the weekend... ANOTHER GROUND LEVEL GET-ON-BORDER FOR THOSE WILLING TO WAIT BEFORE LAUNCH!
Thanks Goldenhand for the website info...
That is what I believed, a website makeover.
Go PNGB!!
Thanks guys . I am new with this stock, and new to this board. I really appreciate all the information you post here. I now own 150,000 shares of PNGB and looking for another 50,000 to 100,000 more in the near future. I spoke to Charles Lesser about a week ago . It was before earnings and filings were made public, so he said he couldnt say much at that time. He did say there have been alot of changes within the company for the good and that they were rebuilding the website , so it would be currently up to date. He said I could call him anytime after, and he would be willing to talk more and answer any questions. Again thanks to all . GO PNGB !!!!!
I had an epiphany, or vision, a few nights ago about Panglobal Brands. My first in many years, and first ever of an investment.
There was a rebirth, followed by fields of green.
I believe a new website will emerge soon, followed by an excellent financial report, and lots of green for all. Good luck all!
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About Panglobal Brands Inc.
Panglobal Brands, Inc. is committed to building a diverse stable of apparel brands, capitalizing on opportunities to participate in the hottest fashion trends as they happen. Our business strategy is to create a balance with dynamic branded products and the traditionally more stable private label apparel business by selling branded products through specialty retailers and by running a private label division catering to department store chains. Our current brands include: Mynk, a high-end, high-fashion denim brand selling at specialty retailers and Saks 5th Avenue; Nela, an upscale contemporary print dress label; Tea & Honey, a casual ladies wear collection that will be unveiled later this year; and, So Sik, which represents affordable fashions for the burgeoning junior market.
This strategy plus a management team with significant apparel industry experience, enables Panglobal Brands to bring attractive product lines to market at competitive price points
Panglobal Brands, Inc. 2853 E. Pico Blvd. Los Angeles, CA 90023
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$THE WAVE 01/12/2010
DEAR WAVERIDER$) PNGB - Panglobal Brands, Inc
SHORT TERM TARGET .16 MID TERM TARGET .35 ONE YEAR TARGET .65
This will be the next favorite profitable American company for us to participate in the growth of the US through this financial time. This is one of the fastest growing companies we have detailed to this point in the many companies the wave has detailed. There revenue increases Dwarf the ISCR growth and are growing in a everyday use product that we all see every time me make a trip to the mall. Many of there products are used by the larger part of the readers and they have grown there revenues in times when most have cut back on these expenditures.
They are in the clothing business and they have many customers both in the Branded categories and the unbranded lines we see at the mall every trip there. They encompass both major retailers and the small specialty stores through out The US. You may not recognize there company name but you will be familiar with the clothing lines. I was not able to copy there website to this email so please take the time to look through the number of lines and the variety of clothes they do sell. I am sure you Will see some there that you have purchased here for the kids or yourself in the last year. I always like investing in the companies were I get a return on the money I spend for everyday use.
They have grown revenues in the last year by 241% this year and look to finish the fourth quarter up for year over year by 250%. This is the last quarterly they will be releasing this fiscal year and that date ends Sept 30 2009. The Christmas Revenues will not be included on this fiscal year.
I predict the revenue from the Christmas quarter to be 12 to 15 million dollars and that is almost half there revenue for this phenomenal year. Next years looking forward to looks to grow to 50 million dollars or more at this staggering pace. Looking forward five years this could be a corporation that produce 20 to 30 million dollars in profit a year and be listed on one of the senior exchanges.
Please look through the fillings here as we have provided both the year to date and also last years 10k for all four quarters.
This will be a stock that is severely under valued and one that you will be proud to add to both your long term and short term portfolio as we get this company out to the public. Please take the time to read through and base your buying decision on what you find through your Due Diligence.
Here is there news link below
http://www.panglobalbrand.com/#/news
http://www.panglobalbrand.com/#/investors
http://www.panglobalbrand.com/#/about
This is there main website below and they have many lines that are sold in the best stores in the US. These includes names like Maceys, Saks Fifth Avenue, JC Pennies and many of the mall stores like the Pac Sun and many other favorites we shop at every month. Please take the time to look through these websites as most can not be copied and re-posted here or in the IBOX on the investors hub. You will find there clothes reach most all the buying groups in the US like the Kids, Young women and even the Stylish Men sectors.
http://www.panglobalbrand.com/#/brands
http://www.mynkbrand.com/mynk/
http://www.sosikclothing.com/sosik/
http://www.nelacollection.com/nela/
http://www.havencollection.com/haven/
http://www.panglobalbrand.com/crafty-couture/
http://www.teaandhoneycollection.com/teaandhoney/
http://www.panglobalbrand.com/scrapbook-originals/
PNGB - Panglobal Brands, Inc.
Last Sale 0.058
http://www.pinksheets.com/pink/quote/quote.jsp?symbol=pngb
http://investorshub.advfn.com/boards/board.aspx?board_id=14444
No news support here lately
New Brands on the way from website
PANGLOBAL BRANDS INC.
AND SUBSIDIARY
CONSOLIDATED BALANCE SHEETS
http://www.pinksheets.com/edgar/GetFilingHtml?FilingID=6807179
PANGLOBAL BRANDS INC.
AND SUBSIDIARY
CONSOLIDATED BALANCE SHEETS
June 30, | September 30, | |||||
2009 | 2008 | |||||
(Unaudited) | ||||||
ASSETS | ||||||
Current assets: | ||||||
Cash | $ | 268,212 | $ | --- | ||
Accounts receivable, net of allowance of $400,232 and $544,176 as | ||||||
of June 30, 2009 and September 30, 2008, respectively | 510,570 | 444,291 | ||||
Due from factor, net | 2,206,253 | 1,411,456 | ||||
Inventory | 1,463,436 | 1,304,407 | ||||
Prepaid expenses and other current assets | 140,727 | 97,354 | ||||
Total current assets | 4,589,198 | 3,257,508 | ||||
Property and equipment , net | 442,193 | 587,992 | ||||
Trademarks and intangible assets | 1,177,235 | 1,177,235 | ||||
Deposits | 128,392 | 134,520 | ||||
Total assets | $ | 6,337,018 | $ | 5,157,255 | ||
LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||
Current liabilities: | ||||||
Bank overdraft | $ | --- | $ | 171,521 | ||
Accounts payable and accrued expenses | 4,505,885 | 3,861,562 | ||||
Convertible notes payable to shareholders | --- | 750,000 | ||||
Total current liabilities | 4,505,885 | 4,783,083 | ||||
Convertible notes payable to shareholders-long term | 889,154 | --- | ||||
Commitments and contingencies | ||||||
Stockholders’ equity : | ||||||
Authorized - 600,000,000 shares; issued and outstanding – | ||||||
49,016,710 shares and 37,671,710 shares at | ||||||
June 30, 2009 and September 30, 2008, respectively | 4,903 | 3,767 | ||||
Additional paid-in capital | 18,165,704 | 14,741,439 | ||||
Accumulated deficit | (17,228,628 | ) | (14,371,034 | ) | ||
Total stockholders’ equity | 941,979 | 374,172 | ||||
Total liabilities and stockholders’ equity | $ | 6,337,018 | $ | 5,157,255 |
The accompanying notes are an integral part of the consolidated financial statements.
F-1
PANGLOBAL BRANDS INC.
AND SUBSIDIARY
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
Three Months Ended | Nine Months Ended | |||||||||||
June 30, | June 30, | |||||||||||
2009 | 2008 | 2009 | 2008 | |||||||||
Net sales | $ | 8,585,235 | $ | 5,321,794 | $ | 20,214,494 | $ | 8,405,346 | ||||
Cost of sales | 6,555,494 | 4,268,641 | 15,106,873 | 6,657,008 | ||||||||
Gross profit | 2,029,741 | 1,053,153 | 5,107,621 | 1,748,338 | ||||||||
Costs and expenses: | ||||||||||||
Design and development | 707,971 | 784,967 | 2,214,211 | 2,580,354 | ||||||||
Selling and shipping | 781,854 | 708,711 | 2,119,729 | 1,613,190 | ||||||||
General and administrative, including | ||||||||||||
$382,972 and $815,612 of stock-based | ||||||||||||
compensation for the three months | ||||||||||||
ended June 30, 2009 and 2008, | ||||||||||||
respectively; and $784,003 and | ||||||||||||
$1,878,411 for the nine months ended | ||||||||||||
June 30, 2009 and 2008, respectively | 1,109,118 | 1,890168 | 3,023,214 | 4,146,940 | ||||||||
Depreciation and amortization | 32,333 | 26,862 | 95,163 | 62,686 | ||||||||
Total costs and expenses | 2,631,276 | 3,410,708 | 7,452,316 | 8,403,170 | ||||||||
(601,535 | ) | (2,357,555 | ) | (2,344,695 | ) | (6,654,832 | ) | |||||
Interest income | 46 | 82 | 51 | 22,065 | ||||||||
Interest (expense) | (309,434 | ) | (44,679 | ) | (480,011 | ) | (53,169 | ) | ||||
Loss on extinguishment of debt | (32,939 | ) | --- | (32,939 | ) | --- | ||||||
(342,327 | ) | (44,597 | ) | (512,899 | ) | (31,104 | ) | |||||
Net loss | $ | (943,862 | ) | $ | (2,402,152 | ) | $ | (2,857,594 | ) | $ | (6,685,936 | ) |
Net loss per common share - basic and | ||||||||||||
diluted | $ | (0.02 | ) | $ | (0.08 | ) | $ | (0.07 | ) | (0.23 | ) | |
Weighted average number of common | ||||||||||||
shares outstanding - basic and diluted | 46,496,000 | 29,661,500 | 41,481,000 | 29,401,500 |
Below is last years 10k and we stand to beat this one here by huge numbers well in excess of 250% increase year over year. This is in the wake of the worst economical year in The US history. I am very bullish about this company for the next year and look for an excellent Revenues with the possibility of this quarter being the first quarter they have in the green. The next quarterly report will be there first quarter into the Christmas season and that looks even more promising then this report now.
I look for them to break the 15 million dollars revenue in one quarter or almost half as much as they did this year alone. This is a fast growing company that I see a very great possibility of an up-listing this year.
They have the top stores with the top brands and are not resting on there past to increase there future. I account for the excellent growth this year from there strategy to go into the young adults fashions and this quarterly will set the Stock Market on the ears to listen as we go forward.
This is a once in a life time opportunity to get in on the next greatest fashion producer in America.
They are setting the bar higher and now they will reap the benefit of there increases well into the future. This is the time to get in as this company will be increasing ten fold in price this year conservatively and at the price of six cents could easily be trading in the dollar multiples this next year.
PANGLOBAL BRANDS INC.
AND SUBSIDIARY
CONSOLIDATED BALANCE SHEETS
September 30, | September 30, | |||||
2008 | 2007 | |||||
ASSETS | ||||||
Current assets: | ||||||
Cash and cash equivalents | $ | -- | $ | 1,170,214 | ||
Accounts receivable, net of allowance of $544,176 and $14,675 as of | 444,291 | 29,975 | ||||
September 30, 2008 and September 30, 2007, respectively | ||||||
Due from factor, net | 1,411,456 | 175,084 | ||||
Inventory | 1,304,407 | 309,700 | ||||
Prepaid expenses and other current assets | 97,354 | 51,004 | ||||
Total current assets | 3,257,508 | 1,735,977 | ||||
Property and equipment , net | 587,992 | 210,930 | ||||
Trademarks and intangible assets | 1,177,235 | |||||
Deposits | 134,520 | 68,065 | ||||
Total assets | $ | 5,157,255 | $ | 2,014,972 | ||
LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||
Current liabilities: | ||||||
Bank Overdraft | $ | 171,521 | $ | -- | ||
Accounts payable and accrued expenses | 3,861,562 | 396,988 | ||||
Convertible note payable to shareholders | 750,000 | 10,000 | ||||
Total current liabilities | 4,783,083 | 406,988 | ||||
Commitments and contingencies | ||||||
Stockholders’ equity : | ||||||
Authorized - 600,000,000 shares; issued and outstanding – 37,671,710 shares | ||||||
and 26,731,771 shares at September 30, 2008 | ||||||
and September 30, 2007, respectively | 3,767 | 2,673 | ||||
Additional paid-in capital | 14,741,439 | 6,363,418 | ||||
Accumulated deficit | (14,371,034 | ) | (4,758,107 | ) | ||
Total stockholders’ equity | 374,172 | 1,607,984 | ||||
Total liabilities and stockholders’ equity | $ | 5,157,255 | $ | 2,014,972 |
The accompanying notes are an integral part of the consolidated financial statements.
F-3
PANGLOBAL BRANDS INC.
AND SUBSIDIARY
CONSOLIDATED STATEMENTS OF OPERATIONS
Year Ended | Year Ended | |||||
September 30, | September 30, | |||||
2008 | 2007 | |||||
Net sales | $ | 13,939,264 | $ | 592,046 | ||
Cost of sales | 11,751,722 | 1,886,380 | ||||
Gross profit (loss) | 2,187,542 | (1,294,334 | ) | |||
Costs and expenses: | ||||||
Design and development | 3,698,948 | 365,719 | ||||
Selling and shipping | 2,473,374 | 611,591 | ||||
General and administrative, including | ||||||
$2,176,434 and $644,230 of stock-based | ||||||
compensation for the year ended | ||||||
September 30, 2008 and 2007, | ||||||
respectively; | 5,448,317 | 1,713,173 | ||||
Depreciation and amortization | 95,589 | 12,827 | ||||
Total costs and expenses | 11,716,228 | 2,703,310 | ||||
(9,528,686 | ) | (3,997,644 | ) | |||
Interest income | 22,176 | 72,773 | ||||
Interest (expense) | (106,417 | ) | -- | |||
Interest income/(expense), net | (84,241 | ) | 72,773 | |||
Net loss | $ | (9,612,927 | ) | $ | (3,924,871 | ) |
Net loss per common share - basic and diluted | $ | (0.31 | ) | $ | (0.27 | ) |
Weighted average number of common shares | ||||||
outstanding - basic and diluted | 31,459,500 | 14,817,000 |
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