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Nice chart too.
SOSI had broken resistance at the 50 SMA, and held for 2 days in a row. A little volume, and you have a monster here imho.
Wow lobo, strong low floater that you found here. On the OTC/QB, and fully reporting. I'm impressed. 
It's also a security company, and with the economy the way it is, and crime rates going up personal security companies should be a growing sector of the market.
5 boardmarks, hmmmm Should have known...
later
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Somerset International Group, Inc.
90 Washington Valley Road
Bedminster, NJ 07921
http://www.somersetinternational.com
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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.
| 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 | ) | ||||||||
| John X. Adiletta, President & Chief Executive Officer Lance K. Berkheimer, President of Vanwell Electronics, Inc. & Meadowlands Fire, Safety, and Electrical Supply Co., Inc. Robert M. Ryan, Vice President and General Manager of Fire Control Electrical Systems, Inc. |
• 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
