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Somerset International Group, Inc. (fka SOSI)

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Last Post: 10/18/2011 12:22:48 PM - Followers: 2 - Board type: Free - Posts Today: 0

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Somerset International Group, Inc.
90 Washington Valley Road
Bedminster, NJ 07921

http://www.somersetinternational.com

  • Phone: 908-719-8909
  • Fax: 908-953-0797
  • E-mail: info@somersetinternational.com
  •  

 SHARE STRUCTURE

 

    • Outstanding Shares

      23,348,655 as of Aug 13, 2010
    • Authorized Shares

      200,000,000 as of Aug 13, 2010
    • Float (shares)

      12,618,219 as of Aug 13, 2010

  • OVERVIEW 

  •  

    Somerset International is a security technology holding company formed in 2004 to address the increasing demand for new products and services to protect the general population, including institutions, hospitals, schools and government agencies against emergency situations such as terrorism, fire, and crime. Somerset’s portfolio companies include: 


    Secure System, Inc. 
    Secure System, Inc. designs, manufactures, installs and maintains wireless proprietary personal security systems for colleges, mental health facilities, housing developments and other high traffic areas where potential for crime exists. 

     


    Meadowlands and Vanwell 
    Meadowlands Fire, Safety and Electrical Supply Company and its sister company, Vanwell Electronics, Inc., specialize in the distribution, sale, installation and maintenance of commercial fire and security equipment and systems that include fire detection, video surveillance, and intrusion alarm equipment.

     

    Fire Control Electrical Systems, Inc.
    Fire Control Electrical Systems, Inc.specialize in the distribution, sale, installation and maintenance of commercial fire and security equipment and systems that include fire detection, video surveillance, and intrusion alarm equipment. We also provide products ranging from amplifiers and speakers used in foreground and background music systems, to mixers, wireless microphone systems and digital processors used in sound reinforcement, to integrated intercom systems for security and communications.

     

     


     FINANCES

 
June 30,
 2010
   
December 31, 2009
 
   
(Unaudited)
   
(Unaudited)
 
ASSETS
           
Current Assets:
           
Cash and cash equivalents
  $ 13,237     $ 43,633  
Accounts receivable, net
    585,359       572,548  
Inventories
    662,088       615,379  
Prepaid expenses
    108,100       84,208  
Other current asset
    10,365       10,265  
Total Current Assets
    1,379,149       1,326,033  
                 
Property and equipment, net
    112,630       127,617  
                 
Other Assets:
               
Deposits
    7,120       7,120  
Deferred financing costs, net
    67,513       116,676  
Customer lists, net
    726,847       1,024,221  
Goodwill
    2,200,355       2,200,355  
 Total other assets
    3,001,835       3,348,372  
TOTAL ASSETS
  $ 4,493,614     $ 4,802,022  
 
 
   
Three Months Ending
June 30,
   
Six Months Ending
June 30,
 
   
2010
   
2009
   
2010
   
2009
 
Revenues
                       
Equipment sales
  $ 429,497     $ 319,487     $ 742,321     $ 756,937  
Installation and service revenues
    87,278       290,888       200,687       513,831  
Contract revenues
    419,649       405,690       855,276       833,248  
Total revenues
    936,424       1,016,065       1,798,284       2,104,016  
                                 
Costs of goods sold
                               
Material cost of systems sold
    220,578       201,561       360,370       467,502  
Install and service costs
    215,344       141,334       401,963       300,334  
Engineering and development
    27,349       30,962       57,311       60,801  
Total costs of goods sold
    463,271       373,857       819,644       827,637  
                                 
Gross margin
    473,153       642,208       978,640       1,275,379  
                                 
Selling, general, and administrative expenses
                               
Selling, general and administrative expense
    503,326       620,468       1,015,746       1,396,544  
Depreciation expense
    6,545       10,859       14,096       21,718  
Amortization expense 
    173,269       193,955       346,538       387,910  
Total selling, general, and administrative expenses
    683,140       825,282       1,376,380       1,806,172  
                                 
Loss from operations
    (209,987 )     (183,074 )     (397,740 )     (530,793 )
 
 

MANAGEMENT

John X. Adiletta, President & Chief Executive Officer
Mr. Adiletta, age 59, is a senior executive with over 30 years of multi-functional experience in the telecommunication services, mobile and modular facilities leasing, and vehicle leasing industries. Since 1993, Mr. Adiletta has been a Principal of PCS Management Group, a firm specializing in merger and acquisition transactions. During that period and between March 2000 and July 2002, Mr. Adiletta co-founded and was the Chief Executive Officer of Teleservices Group, Inc., a telecommunications services company. Mr. Adiletta currently serves on the Board of Directors of Output Services Group, Inc. a privately held company, and served on the Board of Directors of DataWave Systems, Inc., a publicly traded company, prior to its acquisition. He has previous experience as Chief Executive Officer, President, Chief Operating Officer, Principal Financial Officer, and member of the Board of Directors in the telecommunications industry. Mr. Adiletta has been instrumental in setting the strategic direction, assembling a management team, managing all aspects of growth, and representing the businesses to the investment community. He has previously been involved in private and public stock offerings. Mr. Adiletta also has extensive experience in managing multi-unit operations.

Lance K. Berkheimer, President of Vanwell Electronics, Inc. & Meadowlands Fire, Safety, and Electrical Supply Co., Inc.
Mr. Berkheimer brings executive leadership and more than 25 years of experience in sales and marketing with technology-based companies ranging from start-ups to industry giants – including AT&T, Lucent Technologies and Avaya. He came to Vanwell & Meadowlands from iBAHN, the worldwide leading provider of secure wired and wireless services for hoteliers and meeting organizers.  Prior to this, Mr. Berkheimer served as Regional Sales Manager at MTS, a worldwide provider of Business Support Systems.  Mr. Berkheimer began his career in the telecommunications industry working for AT&T in the Enterprise Sales division, selling solutions to AT&T’s top global accounts.   

Robert M. Ryan, Vice President and General Manager of Fire Control Electrical Systems, Inc.
Mr. Ryan has twenty years' experience in the fire detection business; he joins Fire Control after holding a position as a system sales representative for United Fire Protection Corporation where he was responsible for sales/project management for Fire Alarm and Fire Suppression Systems. Mr. Ryan coordinated the acquisition of a new product line for Fire Control Electrical Systems, Inc. to allow expansion into a new market area. His experience at other fire control and security systems companies include positions at Thorn Automated Systems, Inc. and Cerberus Pyrotonics. He has extensive experience working with companies that provide products and services in the personal safety and information security space and brings a wealth of industry knowledge to his position at Fire Control.

 


 CUSTOMERS & PARTNERS

• University of Bridgeport

• State of New York Department of

Mental Health and Mental Retardation

• Danbury Hospital

• College of Staten Island

• Jersey City Housing Authority

• Passaic County Community College

• South Orange / Maplewood School District


CHART

 

 

PostSubject
#80   interesting, time will tell I guess. El_Lobo 10/18/11 12:22:48 PM
#79   I think it is alot more than that, Mark 10/18/11 12:21:49 PM
#78   well of course, maybe all they need to El_Lobo 10/18/11 12:20:40 PM
#77   Agree, don't get me wrong, I hope it Mark 10/18/11 12:19:17 PM
#76   not sure, but this is good news. El_Lobo 10/18/11 12:15:27 PM
#75   Will be interesting to watch, I had thought Mark 10/18/11 09:44:01 AM
#74   great news guys JUST LOOK BELOW i got johnstockmaster 10/18/11 01:03:45 AM
#73   No idea, I got stuck in it, they Mark 10/12/11 09:34:03 AM
#72   IS THIS DELISTED? thats what major boards are kingfisher1964 10/12/11 08:11:09 AM
#71   09:24 SOSI Somerset International Group, Inc. Mark 10/03/11 10:00:35 AM
#70   doesnt make any sense to me either. El_Lobo 08/30/11 10:23:42 PM
#69   I know, Brich. It seems the SEC either Renee 08/30/11 09:32:59 PM
#68   unreal! I see so many crap stocks trade $b_rich$ 08/30/11 08:49:07 PM
#67   happens, thats why its pennyland. It will El_Lobo 08/30/11 04:33:06 PM
#66   "JUST GETTING ATTENTION *****I am certain something is liketotravel 08/30/11 03:58:58 PM
#65   Gosh. And from all the posts written Slojab 08/30/11 01:52:15 PM
#64   SOSI: SEC Suspension and Admin Order: Renee 08/30/11 10:28:19 AM
#63   AGREED 100%. This is the beginning of El_Lobo 07/29/11 11:35:32 AM
#62   JUST GETTING ATTENTION the float here is too kingfisher1964 07/29/11 02:53:40 AM
#61   First few days of real trading starting today...We El_Lobo 07/28/11 04:22:58 PM
#60   Started out looking great this morning bud! Working $b_rich$ 07/28/11 09:56:19 AM
#59   alot more eyes on SOSI here....and rightfully so. El_Lobo 07/28/11 09:38:07 AM
#58   agreed everything is in order here...Developments are on El_Lobo 07/27/11 11:27:51 PM
#57   Nice chart too. Senorita Roachita 07/27/11 06:29:08 PM
#56   SOSI here is undervalued. Market value of only Senorita Roachita 07/27/11 06:16:31 PM
#55   Wow lobo, strong low floater that you found Senorita Roachita 07/27/11 05:39:02 PM
#54   nice share structure...looks like peeps are holding - retireearly 07/27/11 12:16:46 PM
#53   sure is El Lobo:) $b_rich$ 07/26/11 09:18:16 PM
#52   Super thin here! After .015 was knocked El_Lobo 07/26/11 04:50:54 PM
#51   wouldn't pay to sell below .01, imo. $b_rich$ 07/22/11 03:39:33 PM
#50   Whoever is bidding at .004 might wanna raise El_Lobo 07/21/11 12:49:39 PM
#49   Anyone wanna sell me some shares under a penny? El_Lobo 07/21/11 01:39:48 AM
#48   Nice update El Lobo! Thanks! $b_rich$ 07/20/11 11:02:06 PM
#47   5 boardmarks, hmmmm :-) Should have known... SuperC 07/20/11 12:13:44 AM
#46   yea TA told me the OS was exactly El_Lobo 07/19/11 09:30:08 PM
#45   T/A should have told you the O/S and Mark 07/19/11 09:29:26 PM
#44   Just got off the phone with TA....OS unchanged El_Lobo 07/19/11 05:08:10 PM
#43   This could be a real nice one:) $b_rich$ 07/15/11 02:14:38 PM
#42   Another Form 5 out for SOSI, guy has DenverBruin 07/15/11 11:06:28 AM
#41   form 5 out today: $b_rich$ 06/20/11 10:16:23 AM
#40   Gotta start some snooping on this one. ErnieBilco 02/20/11 09:59:12 AM
#39   That smackdown put it on my radar. ErnieBilco 02/20/11 09:58:35 AM
#38   Jeez, fugly here today WakingBake 02/18/11 03:20:57 PM
#37   Thanks Mike I was trying to sneak in 180stocks 09/10/10 09:27:12 PM
#36   Post filter tells the tale C Man IMO 3respalm 09/10/10 04:26:20 PM
#35   .011 , we know it Carlito 09/10/10 03:43:38 PM
#34   And ,,,,, We wait :) 3respalm 09/10/10 02:31:10 PM
#33   Ask is still thin, any volume and we Masked Superstar 09/10/10 11:11:41 AM
#32   .01 x.016 please all use Carlito 09/10/10 11:10:24 AM
#31   nice way to kill a run ... whack lioncub 09/10/10 11:07:40 AM
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