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Afinida Announces 90% Growth In Payroll Processing RevenuePress Release | 08/10/2021
A subsidiary of Trucept Inc. (OTC Pink: TREP), Afinida, is one of the country’s fastest-growing full-service payroll solutions providers. The Company has expanded its physical presence to the Northeast to accommodate the ongoing growth of its payroll services division. Now operating in 47 states, Afinida’s professional services include turn-key payroll processing, cloud-based payroll software, direct deposit management, wage garnishments, W2 processing, and consulting services.
Julie Neill, Chief Operating Officer at Afinida, and a Trucept Board Member states: “We are pleased to announce that we are currently experiencing record increases in our payroll processing product line. Q1 saw revenue grow by over 18%, with Q2 producing a staggering 90% increase, year over year.” She went on to say: “The significant growth is directly attributed to the best-in-class, personalized service offered by Afinida.”
Unlike most payroll firms with a national footprint, Afinida prides itself on a unique, highly personalized customer experience, anchored by a dedicated Account Manager for every client. This gives Afinida one of the most responsive customer experience models in the payroll processing industry.
Afinida’s parent company, Trucept, offers professional services that help businesses navigate growth. The company’s professional services now encompass the following:
Marketing, technology, and Accessibility Act compliance services
Insurance offerings and third-party administrator (TPA) services
Payroll
Human resources and management
Employee benefits administration
Accounting support
Safety and risk management
Afinida Announces 90% Growth In Payroll Processing RevenuePress Release | 08/10/2021
A subsidiary of Trucept Inc. (OTC Pink: TREP), Afinida, is one of the country’s fastest-growing full-service payroll solutions providers. The Company has expanded its physical presence to the Northeast to accommodate the ongoing growth of its payroll services division. Now operating in 47 states, Afinida’s professional services include turn-key payroll processing, cloud-based payroll software, direct deposit management, wage garnishments, W2 processing, and consulting services.
Julie Neill, Chief Operating Officer at Afinida, and a Trucept Board Member states: “We are pleased to announce that we are currently experiencing record increases in our payroll processing product line. Q1 saw revenue grow by over 18%, with Q2 producing a staggering 90% increase, year over year.” She went on to say: “The significant growth is directly attributed to the best-in-class, personalized service offered by Afinida.”
Unlike most payroll firms with a national footprint, Afinida prides itself on a unique, highly personalized customer experience, anchored by a dedicated Account Manager for every client. This gives Afinida one of the most responsive customer experience models in the payroll processing industry.
Afinida’s parent company, Trucept, offers professional services that help businesses navigate growth. The company’s professional services now encompass the following:
Marketing, technology, and Accessibility Act compliance services
Insurance offerings and third-party administrator (TPA) services
Payroll
Human resources and management
Employee benefits administration
Accounting support
Safety and risk management
Think about the patience I've had and confidence in this thing.
A 2011 post detailing FACTS about BONAR.
He is a crook.
STTN some research inspired by the filing of the last 10Q on November 21, 2011
The stock started to plummet the day before the 10Q filing (maybe some insiders with advanced knowledge that the 10Q was going to be brutal decided they better start getting out early?)
-----
So what was in this 10Q?
Before we get to that a quick rundown on the events that have happened over the past few months:
-----
Starting shortly after the former Chief Executive Officer, Chief Financial Officer, Secretary and Treasurer and founder of the company, Perry Law, tendered his resignation from his last remaining position of Director effective immediately on June 3, 2011 things have taken a very bad turn for the worse.
-----
On June 9, 2011, Brian Bonar signed a toxic financing agreement with La Jolla which included a $500,000 debenture agreement and the right for La Jolla to purchase up to $5,000,000 worth of stock at 80% below the market price. To date this agreement has not been executed.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7997447
On June 15, 2011, Brian Bonar issued himself 21,897,999 shares at no cost. According to the recently filed 10Q those shares were issued for $218,979 in compensation owed. On June 15, 2011, STTN closed at $.071/share making the actual value of those shares $1,554,757.93.
http://www.sec.gov/Archives/edgar/data/947011/000106299311002630/xslF345X03/form4a.xml
On June 17, 2011, Brian Bonar issued to his Director, Owen Naccarato, 3,000,000 shares at no cost for $225,000 in compensation owed.
http://www.sec.gov/Archives/edgar/data/947011/000106299311002672/xslF345X03/form4.xml
On July 29, 2011, Brian Bonar and Owen Naccarato met at the Rancho Bernardo Inn and used their 24,897,999 shares to elect themselves as the new Directors for the STTN shell.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8069037
On October 17, 2011, Brian Bonar brought his son, Colin Niven Bonar (aka C. Niven Bonar aka C N Bonar), into the picture by purchasing a group of companies which were all wholly owned subsidiaries of American Marine LLC, a company controlled by both Brian Bonar and C. Niven Bonar, for $50,000 and a $500,000 debt Note.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8194094
Solvis Medical Group consists of three revoked Nevada entities
Solvis Medical Inc and Solvis Medical Staffing Inc and Solvis Physical Therapy Inc all with Eric Gaer and Robert Dietrich listed as officers.
Former chairman of the Solvis Medical Group is Brian Bonar.
American Marine LLC is controlled by both Brian Bonar and C. Niven Bonar
http://www.corporationwiki.com/California/Escondido/american-marine-llc/47532519.aspx
Owen Naccarato (STTN Director) served as the legal counsel for the signed agreement between father and son.
C. Niven Bonar and Brian Bonar were previously linked with Dalrada Financial Corp (DFCO). Both C. Niven Bonar and Brian Bonar's daughter, Pauline Bonar, were initial shareholders in Dalrada Financial Corp back in 1999 while Brian Bonar was the CEO. Not so coincidentally Owen Naccarato was and still is the legal counsel for Bonar linked Delrada Financial Corp.
http://www.otcmarkets.com/stock/DFCO/company-info
The Bonar, Bonar, Naccarato connections don't end there.
The three can be linked to Allegiant Professional Business Services, Inc. (APRO)
Where daddy Bonar served as a Director and president, son Bonar served as the COO, and Naccarato once against served as legal counsel:
http://www.otcmarkets.com/stock/APRO/company-info
http://investing.businessweek.com/research/stocks/people/people.asp?ticker=APRO:US
APRO was (I used past tense because that company is basically dead now) a PEO company just like STTN is now.
APRO even uses the same address as STTN
11838 Bernardo Plaza Ct.
Suite 240
San Diego, CA 92128
Which is in shouting distance from American Marine LLC
11838 Bernardo Plaza Ct
Suite 210
San Diego, CA 92128
And is within walking distance from Dalada Financial Corp
11956 Bernardo Plaza Drive
#516
San Diego, CA 92128
John Capezzuto who works with Brian Bonar with APRO also worked with Brian Bonar with scam company Warning Management Services Inc. (WNMI) which was revoked by the SEC on May 22, 2009
http://www.sec.gov/litigation/admin/2009/34-59968.pdf
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=64388493
Legal counsel for scam company WNMI was Owen Naccarato.
Are you beginning to wonder if Brian Bonar always uses Owen Naccarato for a reason?
Here is a list of companies for which Owen Naccarato currently provides legal services:
http://www.otcmarkets.com/service-provider/Naccarato-&-Associates?id=2062&b=n&filterOn=3
Allegiant Professional Business Services, Inc. (APRO)
Com-Guard.com, Inc. (CGUD)
Dalrada Financial Corp. (DFCO)
Diverse Media Group, Inc. (DVME)
DPOLLUTION International Inc. (RMGX)
eMamba International Corp. (EMBA)
Family Room Entertainment Corp. (FMYR)
Genco Corp. (GNCC)
Global Digital Solutions, Inc. (GDSI)
Icon Media Holdings, Inc. (ICNM)
ITonis, Inc. (ITNS)
Lexico Resources International, Inc. (LXXI)
Markray Corp. (RVBR)
Quad Energy Corp (CDID)
Ree International, Inc. (REEI)
Smart-Tek Solutions, Inc. (STTN)
South Shore Resources, Inc. (SSHO)
TapSlide, Inc. (TSLI)
Velocity Energy Inc. (VCYE)
This link draws some interesting past connections between Corey Ribotsky and many companies that used Owen Naccarato as legal counsel
http://www.offshorealert.com/WorkArea/threadeddisc/print_thread.aspx?id=60&g=posts&t=37726
---------------------
I got side tracked though back to the 10Q
Then on November 21, 2011, the STTN 10Q for the 3rd quarter came out and it was ugly.
Cash on September 30, 2011 - $270,048
Cash on June 30, 2011 - $882,069
STTN lost $612,021 in cash during the 3rd quarter
Accounts payable and accrued liabilities on September 30, 2011 - $8,384,307
Accounts payable and accrued liabilities on June 30, 2011 - $3,256,689
STTN added $5,127,619 in accounts payable and accrued liabilities during the 3rd quarter
The accounts payable and accrued liabilities for the 2nd quarter was only $82,477
$5,127,619 is $2,129,070 more than STTN had in accounts payable and accrued liabilities for its entire existence from 1995 - through the 2nd quarter of 2011.
Why the $5,127,619 in accounts payable and accrued liabilities all in just a 3 month period? Who is all that money owed to?
Gross profit on September 30, 2011 (for 3rd quarter) - negative $155,177
Gross profit on June 30, 2011 (for 2nd quarter) - $1,685,183
STTN went from a profitable business to a company with a failing business. The cost of revenue for the 3rd quarter of 2011 was higher than the revenues themselves. They would have been better off not doing business in the 3rd quarter.
Subtract away the operation costs/expenses and
Overall operating loss on September 30, 2011 (for 3rd quarter) - $2,963,852
Overall operating loss on June 30, 2011 (for 2nd quarter) - $599,161
STTN's operating losses increased by $2,364,691.
During the 1st quarter of 2011 (the period ending March 31, 2011), STTN didn't have an operation loss. They had an operating gain of $363,354 after subtracting away all the costs of operations from the revenues for the quarter. It is obvious the direction that STTN is headed, and it is not good.
A further break down of the Selling, general and administrative expenses helps partially explain why STTN is headed down the toilet.
Salaries & Related Expense
1st quarter - $311,430
2nd quarter - $582,969
3rd quarter - $553,404
Consulting
1st quarter - $220,366
2nd quarter - $158,823
3rd quarter - $353,624
Commissions
1st quarter - $177,223
2nd quarter - $269,583
3rd quarter - $633,742
Outside Services
1st quarter - $31,688
2nd quarter - $62,403
3rd quarter - $211,287
Overall Selling, General, and Administrative Expenses
1st quarter - $1,272,515
2nd quarter - $1,685,183
3rd quarter - $1,997,439
Since revenues dropped by 28% from the 2nd quarter to the 3rd quarter why did commissions increase by 235% during that same stretch?
----------------
The most disturbing parts of the recent STTN filings:
#1) Brian Bonar paying himself $1,554,757.93 in shares for a $218,979 balance that was owed to him then writing off the payment in the books as a $218,979 stock expense.
#2) Brian Bonar issuing himself and his son a $500,000 debt Note for a group of revoked business entities.
#3) The $5,127,619 in accounts payable accrued during the 3rd quarter alone. Who is all that money owed to?
#4) STTN went from a positive balance sheet at the end of the 1st quarter to a failing business whose revenues cost more than what they make.
#5) The past connections and histories of the main players involved in STTN.
No "relief" in sight - BONAR is a crook.
A 2011 post detailing FACTS about BONAR.
He is a crook.
STTN some research inspired by the filing of the last 10Q on November 21, 2011
The stock started to plummet the day before the 10Q filing (maybe some insiders with advanced knowledge that the 10Q was going to be brutal decided they better start getting out early?)
-----
So what was in this 10Q?
Before we get to that a quick rundown on the events that have happened over the past few months:
-----
Starting shortly after the former Chief Executive Officer, Chief Financial Officer, Secretary and Treasurer and founder of the company, Perry Law, tendered his resignation from his last remaining position of Director effective immediately on June 3, 2011 things have taken a very bad turn for the worse.
-----
On June 9, 2011, Brian Bonar signed a toxic financing agreement with La Jolla which included a $500,000 debenture agreement and the right for La Jolla to purchase up to $5,000,000 worth of stock at 80% below the market price. To date this agreement has not been executed.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7997447
On June 15, 2011, Brian Bonar issued himself 21,897,999 shares at no cost. According to the recently filed 10Q those shares were issued for $218,979 in compensation owed. On June 15, 2011, STTN closed at $.071/share making the actual value of those shares $1,554,757.93.
http://www.sec.gov/Archives/edgar/data/947011/000106299311002630/xslF345X03/form4a.xml
On June 17, 2011, Brian Bonar issued to his Director, Owen Naccarato, 3,000,000 shares at no cost for $225,000 in compensation owed.
http://www.sec.gov/Archives/edgar/data/947011/000106299311002672/xslF345X03/form4.xml
On July 29, 2011, Brian Bonar and Owen Naccarato met at the Rancho Bernardo Inn and used their 24,897,999 shares to elect themselves as the new Directors for the STTN shell.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8069037
On October 17, 2011, Brian Bonar brought his son, Colin Niven Bonar (aka C. Niven Bonar aka C N Bonar), into the picture by purchasing a group of companies which were all wholly owned subsidiaries of American Marine LLC, a company controlled by both Brian Bonar and C. Niven Bonar, for $50,000 and a $500,000 debt Note.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8194094
Solvis Medical Group consists of three revoked Nevada entities
Solvis Medical Inc and Solvis Medical Staffing Inc and Solvis Physical Therapy Inc all with Eric Gaer and Robert Dietrich listed as officers.
Former chairman of the Solvis Medical Group is Brian Bonar.
American Marine LLC is controlled by both Brian Bonar and C. Niven Bonar
http://www.corporationwiki.com/California/Escondido/american-marine-llc/47532519.aspx
Owen Naccarato (STTN Director) served as the legal counsel for the signed agreement between father and son.
C. Niven Bonar and Brian Bonar were previously linked with Dalrada Financial Corp (DFCO). Both C. Niven Bonar and Brian Bonar's daughter, Pauline Bonar, were initial shareholders in Dalrada Financial Corp back in 1999 while Brian Bonar was the CEO. Not so coincidentally Owen Naccarato was and still is the legal counsel for Bonar linked Delrada Financial Corp.
http://www.otcmarkets.com/stock/DFCO/company-info
The Bonar, Bonar, Naccarato connections don't end there.
The three can be linked to Allegiant Professional Business Services, Inc. (APRO)
Where daddy Bonar served as a Director and president, son Bonar served as the COO, and Naccarato once against served as legal counsel:
http://www.otcmarkets.com/stock/APRO/company-info
http://investing.businessweek.com/research/stocks/people/people.asp?ticker=APRO:US
APRO was (I used past tense because that company is basically dead now) a PEO company just like STTN is now.
APRO even uses the same address as STTN
11838 Bernardo Plaza Ct.
Suite 240
San Diego, CA 92128
Which is in shouting distance from American Marine LLC
11838 Bernardo Plaza Ct
Suite 210
San Diego, CA 92128
And is within walking distance from Dalada Financial Corp
11956 Bernardo Plaza Drive
#516
San Diego, CA 92128
John Capezzuto who works with Brian Bonar with APRO also worked with Brian Bonar with scam company Warning Management Services Inc. (WNMI) which was revoked by the SEC on May 22, 2009
http://www.sec.gov/litigation/admin/2009/34-59968.pdf
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=64388493
Legal counsel for scam company WNMI was Owen Naccarato.
Are you beginning to wonder if Brian Bonar always uses Owen Naccarato for a reason?
Here is a list of companies for which Owen Naccarato currently provides legal services:
http://www.otcmarkets.com/service-provider/Naccarato-&-Associates?id=2062&b=n&filterOn=3
Allegiant Professional Business Services, Inc. (APRO)
Com-Guard.com, Inc. (CGUD)
Dalrada Financial Corp. (DFCO)
Diverse Media Group, Inc. (DVME)
DPOLLUTION International Inc. (RMGX)
eMamba International Corp. (EMBA)
Family Room Entertainment Corp. (FMYR)
Genco Corp. (GNCC)
Global Digital Solutions, Inc. (GDSI)
Icon Media Holdings, Inc. (ICNM)
ITonis, Inc. (ITNS)
Lexico Resources International, Inc. (LXXI)
Markray Corp. (RVBR)
Quad Energy Corp (CDID)
Ree International, Inc. (REEI)
Smart-Tek Solutions, Inc. (STTN)
South Shore Resources, Inc. (SSHO)
TapSlide, Inc. (TSLI)
Velocity Energy Inc. (VCYE)
This link draws some interesting past connections between Corey Ribotsky and many companies that used Owen Naccarato as legal counsel
http://www.offshorealert.com/WorkArea/threadeddisc/print_thread.aspx?id=60&g=posts&t=37726
---------------------
I got side tracked though back to the 10Q
Then on November 21, 2011, the STTN 10Q for the 3rd quarter came out and it was ugly.
Cash on September 30, 2011 - $270,048
Cash on June 30, 2011 - $882,069
STTN lost $612,021 in cash during the 3rd quarter
Accounts payable and accrued liabilities on September 30, 2011 - $8,384,307
Accounts payable and accrued liabilities on June 30, 2011 - $3,256,689
STTN added $5,127,619 in accounts payable and accrued liabilities during the 3rd quarter
The accounts payable and accrued liabilities for the 2nd quarter was only $82,477
$5,127,619 is $2,129,070 more than STTN had in accounts payable and accrued liabilities for its entire existence from 1995 - through the 2nd quarter of 2011.
Why the $5,127,619 in accounts payable and accrued liabilities all in just a 3 month period? Who is all that money owed to?
Gross profit on September 30, 2011 (for 3rd quarter) - negative $155,177
Gross profit on June 30, 2011 (for 2nd quarter) - $1,685,183
STTN went from a profitable business to a company with a failing business. The cost of revenue for the 3rd quarter of 2011 was higher than the revenues themselves. They would have been better off not doing business in the 3rd quarter.
Subtract away the operation costs/expenses and
Overall operating loss on September 30, 2011 (for 3rd quarter) - $2,963,852
Overall operating loss on June 30, 2011 (for 2nd quarter) - $599,161
STTN's operating losses increased by $2,364,691.
During the 1st quarter of 2011 (the period ending March 31, 2011), STTN didn't have an operation loss. They had an operating gain of $363,354 after subtracting away all the costs of operations from the revenues for the quarter. It is obvious the direction that STTN is headed, and it is not good.
A further break down of the Selling, general and administrative expenses helps partially explain why STTN is headed down the toilet.
Salaries & Related Expense
1st quarter - $311,430
2nd quarter - $582,969
3rd quarter - $553,404
Consulting
1st quarter - $220,366
2nd quarter - $158,823
3rd quarter - $353,624
Commissions
1st quarter - $177,223
2nd quarter - $269,583
3rd quarter - $633,742
Outside Services
1st quarter - $31,688
2nd quarter - $62,403
3rd quarter - $211,287
Overall Selling, General, and Administrative Expenses
1st quarter - $1,272,515
2nd quarter - $1,685,183
3rd quarter - $1,997,439
Since revenues dropped by 28% from the 2nd quarter to the 3rd quarter why did commissions increase by 235% during that same stretch?
----------------
The most disturbing parts of the recent STTN filings:
#1) Brian Bonar paying himself $1,554,757.93 in shares for a $218,979 balance that was owed to him then writing off the payment in the books as a $218,979 stock expense.
#2) Brian Bonar issuing himself and his son a $500,000 debt Note for a group of revoked business entities.
#3) The $5,127,619 in accounts payable accrued during the 3rd quarter alone. Who is all that money owed to?
#4) STTN went from a positive balance sheet at the end of the 1st quarter to a failing business whose revenues cost more than what they make.
#5) The past connections and histories of the main players involved in STTN.
I’m wondering about a little “relief” bounce.
A subsidiary of Trucept Inc. (OTC Pink: TREP), Afinida, is one of the country’s fastest-growing full-service payroll solutions providers. The Company has expanded its physical presence to the Northeast to accommodate the ongoing growth of its payroll services division. Now operating in 47 states, Afinida’s professional services include turn-key payroll processing, cloud-based payroll software, direct deposit management, wage garnishments, W2 processing, and consulting services.
Julie Neill, Chief Operating Officer at Afinida, and a Trucept Board member states, “We are thrilled to be expanding our footprint on the East Coast. This will ensure our clients the highest level of service in all states, making us even more competitive. We have gained a reputation for outstanding customer service, and our new operating location will add even more value to our client relationships.”
The facility, located at 923 Haddonfield Rd. Suite 300, Cherry Hill, NJ 08002, will house the East Coast Operations Center. Hours of operation are 8:00 AM to 8:00 PM EST.
Neill concludes, “This expansion will help cement our presence in the business-friendly northeast region, and it will give us a permanent home to our amazing employees in the area.”
Afinida’s parent company, Trucept, offers professional services that help businesses navig
A subsidiary of Trucept Inc. (OTC Pink: TREP), Afinida, is one of the country’s fastest-growing full-service payroll solutions providers. The Company has expanded its physical presence to the Northeast to accommodate the ongoing growth of its payroll services division. Now operating in 47 states, Afinida’s professional services include turn-key payroll processing, cloud-based payroll software, direct deposit management, wage garnishments, W2 processing, and consulting services.
Julie Neill, Chief Operating Officer at Afinida, and a Trucept Board member states, “We are thrilled to be expanding our footprint on the East Coast. This will ensure our clients the highest level of service in all states, making us even more competitive. We have gained a reputation for outstanding customer service, and our new operating location will add even more value to our client relationships.”
The facility, located at 923 Haddonfield Rd. Suite 300, Cherry Hill, NJ 08002, will house the East Coast Operations Center. Hours of operation are 8:00 AM to 8:00 PM EST.
Neill concludes, “This expansion will help cement our presence in the business-friendly northeast region, and it will give us a permanent home to our amazing employees in the area.”
Afinida’s parent company, Trucept, offers professional services that help businesses navig
I'm still a believer that this stock is poised for some huge gains.
Recent filings - NO BUSINESS PLAN and totally incoherent.
Recent filings provide all the fundamentals we need
This is a BONAR stock...
... there are no fundamentals.
The fundamentals needs to be pointed the right way.
TREP has come to a spot where I think it could attract some attention.
no problem, i have time, this one will be gold.
Look also at PXHI, extremely undervalued, and nobody sees it. i'm even more alone there...
Maybe so, but their recent filing proves they're still making $$!
BONAR shells always suck..
I was wondering the same thing. I looked on OTC site and haven’t found any news. Last place to look is Silverfume for filings. If nothing there my gut based on recent weird trading is that someone(s) know something is coming. But just a guess
Be patient this will pay off just waiting with my fishing pole in the water for that big one.
When tho? Seems $trep is taking FOREVER and mgmt is providing no updates re audited results not uplist?
I know there are positive outcome over here.
Large bids out there but no one is willing to sell lower and no one is willing to buy higher :(
Trep seems stuck
Daily shorting stats are pretty much irrelevant.
Just like TREP financials. This BONAR hot mess won't last long.
Lots of hard work may be closer than ever now to paying off for all of us!
$TREP Trucept Inc. helps organizations focus on growing their business. With a dedicated suite of powerful tools and services designed to put business owners in charge of running their businesses, Trucept tackles a variety of administrative needs and provides a host of value-added advantages. The company offers expert business services in the form of payroll, human resources and management, employee benefits, accounting support, safety and risk management, and marketing and technology services. For more information, call 858-798-1620 or visit https://truceptservices.com/.
Trucept Inc. (OTC Pink: $TREP) has released its updated financials for Q1 2021. The company has experienced another consecutive quarter of profitability, as Trucept reported revenues of $3.8 million for the period (an increase from 48.76 percent over the previous year). https://finance.yahoo.com/news/kulr-technology-group-issued-special-130000691.html
https://otcshortreport.com/company/TREP
I found this interesting and was a bit surprised honestly.
Thoughts re 1) who and why? 2) impact on PPS up to this point? 3) short interest impact going forward?
Thx in advance!
Yep! The other day I was shocked how far it momentarily dropped.
Up day so far.
Trucept Inc. $TREP Announces First Quarter 2021 Results @jctb1 https://finance.yahoo.com/news/trucept-inc-announces-first-quarter-120100782.html
IMO - the debt was probably declared uncollectable and expired after 10 years. That seems to be the way BONAR operates.
Thank you. I still need to take a deeper dive but your perspective is appreciated. Maybe the IRS liabilities they settled last year and presumably are currently paying off are skewing/reflected in the numbers?
LOL!!! What about expenses and what is BONAR'S cut?
Operating income was 709.642 last quarter.... compared to 49.515 the same quarter in 2020. Net income was 672,967 last quarter. Operating income was just 49.515 the same quarter in 2020. The net income of 1,989,121 was due to tax variance in 2020,whatever that it.If it had not been for the tax variance the company would have lost money in 2020.
The 672,967 last quarter is pure income.
https://backend.otcmarkets.com/otcapi/company/financial-report/284438/content
I continue to like TREP. TREP is the only stock I am aware that trades for less than .07 a share. Yet, earned 672,967 last quarter. And has only 52.912,123 shares outstanding.I would have been a little concern,if TREP had lost money last quarter. And if the CEO's written statements about the company had changed from positive to negative. Even without the audit it is hard the believe TREP's pps is so low. When so many stocks are trading at a much higher pps with no income and so many shares outstanding. I do hope the audit will be completed very soon.
Yeah and that’s down from $0.04 the prior quarter! I am a shareholder but I gotta be honest that I did NOT like this report! Took in more revenues but such a big drop in net revs? I also noticed total liabilities decreased so I’m still confused (and need to read report on computer vs phone), what the hell happened in the middle between the top line and bottom line numbers! I also didn’t understand why the hell we need all these loans from Bonar especially given the big interest payouts he gets as outlined in the same report with maturity dates!!! Something is fishy here unless someone can help me understand
Yeah and that’s down from $0.04 the prior quarter! I am a shareholder but I gotta be honest that I did NOT like this report! Took in more revenues but such a big drop in net revs? I also noticed total liabilities decreased so I’m still confused (and need to read report on computer vs phone), what the hell happened in the middle between the top line and bottom line numbers! I also didn’t understand why the hell we need all these loans from Bonar especially given the big interest payouts he gets as outlined in the same report with maturity dates!!! Something is fishy here unless someone can help me understand
Net income last quarter 672,967 .01 per share.
$TREP CEO Norman Tipton said he extremely pleased with the results. "We are in an exciting period for Trucept," he said. "Our core business and subsidiaries continue to thrive and we are making progress on financial audits which will allow the company to uplist on the OTCQB."
Trucept Inc. $TREP Announces First Quarter 2021 Results https://finance.yahoo.com/news/trucept-inc-announces-first-quarter-120100782.html
I am glad TREP was profitable last quarter.I like the fact the company keeps investors informed.The financial audits will be completed and the company will uplist on the OCTQB.
The company has experienced another consecutive quarter of profitability, as Trucept reported revenues of $3.8 million for the period (an increase from 48.76 percent over the previous year).
Trucept Inc. Announces First Quarter 2021 Results
SAN DIEGO--(BUSINESS WIRE)-- Trucept Inc. (OTC Pink: TREP) has released its updated financials for Q1 2021. The company has experienced another consecutive quarter of profitability, as Trucept reported revenues of $3.8 million for the period (an increase from 48.76 percent over the previous year).
CEO Norman Tipton said he extremely pleased with the results. “We are in an exciting period for Trucept,” he said. “Our core business and subsidiaries continue to thrive and we are making progress on financial audits which will allow the company to uplist on the OTCQB.”
PROFESSIONAL SERVICES
Trucept’s professional services help businesses navigate growth. The company’s professional services now encompass the following:
Marketing, technology, and Accessibility Act compliance services
Insurance offerings and third-party administrator (TPA) services
Payroll
Human resources and management
Employee benefits administration
Accounting support
Safety and risk management
About Trucept Inc.
Trucept Inc. helps organizations focus on growing their business. With a dedicated suite of powerful tools and services designed to put business owners in charge of running their businesses, Trucept tackles a variety of administrative needs and provides a host of value-added advantages. The company offers expert business services in the form of payroll, human resources and management, employee benefits, accounting support, safety and risk management, and marketing and technology services. For more information, call 858-798-1620 or visit https://truceptservices.com/.
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