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20/20, thanks again ... !!!
There is no date, but I presume that "June" is
"June, 2010" so DTCT is ... NO MORE ... ))<: }
OK link didn't work but here is what it said (from Edgar Online):
Item 2.04 Triggering Events That Accelerate or Increase a Direct Financial Obligation.
Diatect has been aggressively seeking additional working capital throughout the recent economic downturn in order to fund its operations. As a result of these efforts, the company identified a potential investor group, negotiated a major financing arrangement, and entered into signed contracts In March 2010. Unfortunately, the investor group has yet to fulfill its funding obligation. Due to this delay in funding and the lack of operating revenue, Diatect has not been in the position to remain current with its debt obligations and as a result, the company has received notification on June 3, 2010 of foreclosure from its secured lender.
If Diatect does not make a payment of $776,431.83 to the secured creditor within the next three weeks, the creditor will take possession of all the assets of the company for liquidation. Every effort is now being made to convince the investor group to perform on its funding obligation and thus prevent the foreclosure. If this financing transaction does not close by the end of June, the foreclosure will take place and Diatect will be forced to cease all operations.
Found this on Edgar Online:
http://google.brand.edgar-online.com/
20/20, thanks ...
Found this on Bloomberg:
KEY DEVELOPMENTS FOR DIATECT INTERNATIONAL CORP:
08/10/2010 -- SEC Revokes Registration Of Securities Of Diatect International:
An Administrative Law Judge has issued an Order Making Findings and Revoking Registration by Default (Default Order) in Diatect International Corp., Administrative Proceeding No. 3-13938. The Order Instituting Proceedings (OIP) alleged that company failed to file its required reports for the quarter ended September 30, 2009, and the year ended December 31, 2009, while its securities were registered with the Securities and Exchange Commission (SEC). The Default Order finds the allegations in the OIP to be true and revokes the registration of each class of registered securities of company pursuant to Section 12(j) of the Securities Exchange Act of 1934.
07/21/2010 -- Diatect International Corp. Announces Resignations in Senior Management:
Diatect International Corp. announced that effective July 15, 2010, Patrick Carr has resigned as the company's sole Director and President and Chief Executive Officer. Also effective this date, Robert Rudman has resigned as the company's Chief Financial Officer.
DTCT has ceased trading as of 08/11/10. This cease is due to the company's registration being revoked.
Not invested here.. so i didnt see what happened.. but i did hear rumors they were gonna go private. but thats rumor
What do you know about the delisting???
DTCT is now delisted ... ???
Oh wow... bummer for them. I didnt see the news on any of my feeds. Thanks for the heads up. Mby i will wait for it to bottom out and play a little bounce.. or mby not.
todays news - looks like their funding source is not coming thru and may throw the company into liquidation
What news was that? I read over their last SEC filing and was not too impressed.
Well With the news I just saw today, this thing may be toast...
Patience is good!!!! Will be digging deeper here and advise,,
I suppose its a possibility. I plan on digging a little deeper into this one. Im gonna email around in the next couple days and see if i cant get an up to date share structure. I will post anything i find.. I dont think this will explode anytime soon.. ive been watching it almost a year LOL!
Kinda have a feeling that there is a lot more to come to this story.. If they have exclusive right with Israel, would think there would be others to follow.Thoughts??
I have been watching it too. I have used their Indoor bug killer and it worked rather well.
I just started watching this company and have noticed some volume coming in. DO know they signed a nice contract with israel for their product and am wondering if there is more to come. Very novel and green products. Any ideas as this could be somewhat interesting??
is there anyone watching this company....any ideas why the pps took such a nice swing yesterday....someone knows something.....hummmmmmm????? what's up????
There are some .05 warrants Mike, I think the company would love to get that additional money. ~Rig
Marketing...
Nice addition here imo...
Marketing
This past fall, we retained a key marketing consultant, Bob Jacobson, a retired Home Depot executive who built Home Depot's Lawn and Garden division into a $2 billion worldwide business. With Bob's assistance, we are planning for a much wider distribution in big-box stores and retail chains by adding groups of stores at a time. These efforts, complemented by the call center, have set the stage for multi-fold growth in the retail segment. To support and reinforce these initiatives, we will launch a major product recognition promotion program at both the consumer and distributor level. The scope of this program is unlike any marketing effort Diatect has ever launched.
~Rig
Diatect International Shareholder Update from Chairman and CEO Patrick Carr
Dec 30, 2008 5:00:00 PM
Copyright Business Wire 2008
HEBER CITY, Utah--(BUSINESS WIRE)-- Diatect International Corporation (OTCBB:DTCT), a provider of eco-friendly organic insect control products, issued this letter today to its shareholders and stakeholders to provide an update on significant business activities at the company.
To Our Shareholders and Stakeholders:
As 2008 draws to a close, I want to update you on the formidable progress at Diatect International. This past year has been a period of profound change. We have completed a major restructuring and have transformed Diatect from a struggling concern into a viable niche-focused enterprise.
Here's a snapshot of where we are.
Retail Sales
Diatect's products are now available in over 1,200 retail outlets in almost all 50 states, with same-day shipment and product availability via the web nationally and internationally. Over 150 of these retail locations are in Florida and we now market through approximately 250 stores in Texas. Diatect products are available in approximately 75 Wal-Mart stores. We currently have 13 wholesale distributors throughout the U.S. and an expanding network of commercial users.
International Sales
We have undertaken considerable efforts in establishing international sales channels, particularly in Central America. Marketing efforts also are ongoing in both Europe and the Middle East where our first product approval is expected in 2009. Diatect's strategic positioning is unique. Regulatory hurdles and a proprietary manufacturing process appear to position the company moderately well against larger incumbents attempting to enter the emerging green and organic insecticide markets. The company's scalability and distribution channels are immediate differentiators among others competing in the space.
Internet Sales
During the third quarter of 2008, steps were taken to immediately improve profitability in Diatect's largest market segment, Internet sales. By November, these actions had increased the contribution margin of this market to 40% compared to a negative 6% in 2007. We also were able to increase our prices in addition to growing the average order size. Our marketing strategy has enabled us to cut our advertising expense in half while maintaining strong Internet sales, thus dramatically decreasing the cost of attracting new customers.
Call Center
We have doubled the size of our retail call center and more than doubled its quality and capability. Call center agents receive weekly training on improving the effectiveness of their calls to generate new business. In 2008, the call center typically added two to three new stores a day during peak months and one to two during the off-season. With the doubling of agents plus the improvements in training and incentives, we expect to double the number of retail outlets carrying Diatect products. This represents a major improvement and a significant opportunity to grow sales.
Marketing
This past fall, we retained a key marketing consultant, Bob Jacobson, a retired Home Depot executive who built Home Depot's Lawn and Garden division into a $2 billion worldwide business. With Bob's assistance, we are planning for a much wider distribution in big-box stores and retail chains by adding groups of stores at a time. These efforts, complemented by the call center, have set the stage for multi-fold growth in the retail segment. To support and reinforce these initiatives, we will launch a major product recognition promotion program at both the consumer and distributor level. The scope of this program is unlike any marketing effort Diatect has ever launched.
Commercial Markets
In addition to these retail-marketing efforts, Diatect is pursuing new opportunities in the commercial market through private labeling and company distribution. We expect these market segments, which have been almost nonexistent to date, to grow into a significant share of our total sales.
Agriculture Market
While agricultural sales were disappointing in 2008, much of this performance can be attributed to a reduced pest load in California and diffused efforts on Diatect's part. Our 2009 strategy will focus on the decision-makers for insecticide use in California. We are expanding our distributor network from two to 12 outlets covering agricultural areas in California from Napa to Los Angeles. This will present our products to a far wider audience of farmers and will vastly increase our sales opportunities. While our agricultural growth expectations are modest for 2009, we are building a sales network that will give us multi-fold expansion in the coming years.
Balance Sheet
We are currently working on raising new capital and converting unsecured liabilities into common shares. This follows our efforts to improve our balance sheet. With a healthier balance sheet and a sound operational and marketing strategy, we expect to deliver positive cash flow from operations in 2009 with the potential for significant profitability growth over the next few years.
EPA Labels
It's important to point out that the cost of obtaining a new pesticide approved by the federal government is now prohibitive for all but the largest players. Industry trade group CropLife America estimates that a single EPA label for a new insecticide can take up to between eight to ten years of pesticide development and testing at a total cost to the manufacturers of $35 to $50 million. Even with the green insecticide space growing rapidly, we believe larger competitors perceive it as a niche market and are therefore unlikely to commit necessary capital to enter the space, although they might consider entering the market via acquisition. Diatect has nine EPA fully registered product labels, an enormously valuable asset not reflected on our balance sheet.
Potential Acquisition Candidate
Though it is premature to consider Diatect a viable acquisition candidate, there is a precedent in the market for the buyout of more developed companies specializing in similar insecticides. In August 2007, Agriliance, an agronomy products and services company with distribution throughout the US, Canada and Mexico, acquired Dryacide USA. This acquisition may be relevant to Diatect because the primary ingredient of Dryacide is DE, or diatomaceous earth, used in this case for long-lasting protection of stored grain. A month later, in September of 2007, the crop protection business of Agriliance was acquired by Land O' Lakes. This suggests there is enormous underlying value in Diatect assets yet to be realized.
Widespread Need
A few final thoughts. Diatect's markets and the solutions it provides are cost effective cures for the bug problems of homeowners, farmers and gardeners. These groups are not inclined to allow bugs to overrun their farms, gardens and homes when there are modestly priced and cost effective green solutions available from Diatect. Although consumers may postpone the purchase of major items during economic downturns, they are not likely to tolerate being overrun by insects.
Cost Savings
In 2008 we reduced our headcount by 25%. Every cost of goods sold and every operating expense has been scrutinized and reduced if possible. Diatect remains in a unique position to scale up to meet future demand with minimal increases in labor and overhead costs. The result is that as we grow, we fully expect to become more efficient and more profitable.
Confidence in our Future
I am confident we will grow Diatect into a successful company. Our market strategy is in place and the timing could not be better. We are at the start of the green century. There is a global ground swell of interest and opportunity in green, eco-friendly products. We anticipate this trend will result in a growing market for Diatect's products. While many industries are reeling from the impact of the current economic slowdown, Diatect is extremely well positioned.
More Information
For a more expanded review of our operations, please go to http://www.hawkassociates.com. I also invite you to review the analyst report from AMI Stock Reports that can be found at www.amistockreports.com.
Thank you for your support in 2008. Rest assured we are doing everything we can to make your investment in Diatect a rewarding one in 2009.
Patrick Carr
Chief Executive Officer
Safe Harbor Statement
The information contained herein contains forward-looking statements that involve risks and uncertainties. You should not place undue reliance on these forward-looking statements. Our actual results could differ materially from those anticipated in the forward-looking statements for many reasons, including the risks described in our annual report on Form 10-K and other reports we file with the Securities and Exchange Commission. Although we believe the expectations reflected in the forward-looking statements are reasonable, they relate only to events as of the date on which the statements are made. We do not intend to update any of the forward-looking statements after the date of this press release to conform these statements to actual results or to changes in our expectations, except as required by law.
Source: Diatect International Corporation
----------------------------------------------
Diatect International Corporation
Robert Rudman
Chief Financial Officer
813-387-3309
robert@diatect.com
or
Hawk Associates
Frank Hawkins or Julie Marshall
305-451-1888
diatect@hawkassociates.com
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Diatect Appoints Former U.S. Presidential Advisor Frank Sanchez to the Board of Directors
Apr 7, 2008 2:37:00 PM
Copyright Business Wire 2008
View Additional ProfilesHEBER CITY, Utah--(BUSINESS WIRE)--
Diatect International Corporation (OTCBB:DTCT), a company providing natural 'go green' insect control products, today announced the appointment of Francisco "Frank" Sanchez to its Board of Directors.
Sanchez became Special Assistant to the U.S. President in 1999 working in the Office of the Special Envoy for the Americas. He later became Assistant Secretary of Transportation. During his time at the White House, he worked with the National Security Council and the State Department.
Sanchez received his undergraduate and law degrees from Florida State University and he holds a master's degree in public administration from Harvard University. He is currently of counsel to the law firm Akerman Senterfitt and a partner with the consulting firm CM Partners (CMP) that provides services in labor-management negotiations, litigation settlements, facilitations and training to corporations and governments worldwide.
Sanchez said, "I am delighted with the opportunity to support Diatect's push to bring its green and eco-friendly products to a broader market. The company's increasing popularity is clearly seen in Diatect's accelerating sales growth. As a fast-growing enterprise, Diatect has made considerable strides in improving the bottom line and strengthening its corporate governance."
DTCT Diatect Resumes Trading on the OTCBB Business Wire "US Press Releases "
HEBER CITY, Utah --(BUSINESS WIRE)--
Diatect International Corporation (OTCBB:DTCT), a company providing natural 'go green' insect control products, announced today that it has resumed trading on the Over the Counter Bulletin Board. On March 24 the Financial Industry Regulatory Authority (FINRA) cleared the request of Diatect's market maker for an unpriced quotation on the OTCBB. A request for a priced quotation has been filed and approval is expected by the end of the week.
Chief Financial Officer Robert Rudman said, "We are pleased to have accomplished our goal of returning to the OTCBB in early 2008. Achieving this important milestone sends a clear signal to our shareholders and customers that our company is improving its financial position and increasing its transparency in terms of filings with the regulatory authorities."
Diatect 2007 Revenue Up 95% to $2M
Mar 20, 2008 9:15:00 AM
Copyright Business Wire 2008
View Additional ProfilesHEBER CITY, Utah--(BUSINESS WIRE)--
Diatect International Corporation (Pink Sheets:DTCT), a company providing natural 'go green' insect control products, today announced revenue for the year ended December 31, 2007 was $2,015,484, up 95.4% from the $1,031,608 reported for 2006. Net loss for 2007 was $1,163,939 or $0.01 per diluted share, a 34.9% decrease from a net loss of $1,787,141 or $0.01 per diluted share for 2006.
The company noted that operational metrics continue to improve. The 2007 gross profit was $1,240,724 or 61.5% of sales, compared to a gross profit of $623,364 or 60.4% of sales for 2006. General and administrative expenses decreased 25.1% to $1,767,231 in 2007 from $2,360,688 in 2006. Loss from operations decreased 29.6% to $1,534,237 in 2007 from $2,180,528 in 2006.
CEO and Chairman Dave Andrus said, "Diatect has demonstrated encouraging year-over-year improvement and growth. Our sales drastically increased in 2007 and our operational costs and net loss have decreased sharply. Our strategic marketing efforts and investments in our marketing program have clearly paid off. We are currently moving forward with a number of initiatives to increase the presence of our Results(R) products in retail outlets while our Diatect(R) products are being distributed through a wide range of domestic and international channels. We strongly believe that our products are the most effective and natural insecticides available in the market today and we intend to fully exploit this strategic advantage."
Additional information, including financial tables and disclosures, can be found in Diatect's 10K, filed yesterday with the Securities and Exchange Commission and available at http://www.sec.gov.
About Diatect International
Diatect International Corporation produces, markets and distributes eco-friendly and sustainable insecticides for agricultural, commercial and retail markets. Their EPA-labeled products are available through nation-wide distributors, retailers, and via telephone and Internet sales. For more information, please visit http://www.deadbugsnaturally.com or http://www.diatect.com.
Diatect Announces Final Decision of SEC Administrative Proceeding
Mar 14, 2008 11:53:00 AM
Copyright Business Wire 2008
View Additional ProfilesHEBER CITY, Utah--(BUSINESS WIRE)--
Diatect International Corporation (Pink Sheets:DTCT), a company providing natural 'go green' insect control products, today announced that Judge James T. Kelly's dismissal of proceedings brought against Diatect by the Securities and Exchange Commission (SEC) in September 2007 has become final. The decision denied a request by the SEC's Division of Enforcement to revoke Diatect's registration and suspend the trading of its shares. The final decision became effective on March 6, 2008.
CEO and Chairman Dave Andrus said, "We are pleased that the Commission has made the decision final, and that this issue is behind us. Diatect has always cooperated with the SEC requests, and was fully compliant as of January 2, 2008. We intend to remain in full compliance going forward. Recent improvements in our business as well as our capital structure bode well for the future of our company."
About Diatect International
Diatect International Corporation produces, markets and distributes eco-friendly and sustainable insecticides for agricultural, commercial and retail markets. Their EPA-labeled products are available through nation-wide distributors, retailers, and via telephone and Internet sales. For more information, please visit http://www.deadbugsnaturally.com or http://www.diatect.com.
Things may change here real soon.
Diatect International Announces Favorable Initial Decision in SEC Administrative Proceeding
Feb 7, 2008 9:10:00 AM
Copyright Business Wire 2008
View Additional ProfilesHEBER CITY, Utah--(BUSINESS WIRE)--
Diatect International Corporation (Pink Sheets: DTCT), a company providing natural 'go green' insect control products, today announced that Judge James T. Kelly has dismissed proceedings brought against Diatect by the SEC in September 2007. The initial decision denied a request by the Securities and Exchange Commission's Division of Enforcement to revoke Diatect's registration and suspend the trading of its shares. The decision will become final once the commission enters an order of finality.
Ruling in favor of Diatect, Administrative Law Judge James T. Kelly said, "Diatect has recently devoted significant resources to satisfying its reporting obligations. In its answer and at the prehearing conference, Diatect provided a schedule for becoming current. Over the past few months, it has kept its commitments. Diatect is entitled to credit for becoming current, even if it did not begin to take its filing obligations seriously until after the commission issued the OIP. The investing public now has access to past and current audited financial information."
CEO and Chairman Dave Andrus said, "The initial decision is in the best interests of our shareholders. We believe our shareholders deserve current and accurate financial information. We intend to remain in full compliance going forward. The recent improvements in our capital structure provided by Aspen Capital and improvements in our business bode well for the future of our company."
About Diatect International
Diatect International Corporation produces, markets and distributes eco-friendly and sustainable insecticides for agricultural, commercial and retail markets. Their EPA-labeled products are available through nation-wide distributors, retailers, and via telephone and Internet sales. For more information, please visit http://www.deadbugsnaturally.com or http://www.diatect.com.
An investment profile on Diatect is available at http://www.hawkassociates.com/dtctprofile.aspx.
Diatect International 3Q '07 Revenue Up 139% to $657,274
Nine Month Revenue Rises 77.8% to $1.6M
Jan 29, 2008 9:00:00 AM
Copyright Business Wire 2008
View Additional ProfilesHEBER CITY, Utah--(BUSINESS WIRE)--
Diatect International Corporation (Pink Sheets:DTCT), a company providing natural 'go green' insect control products, announced today that revenue for the third quarter of 2007 increased 139% to $657,274 from $275,517 reported in the third quarter of 2006. Gross profit for the quarter increased 149% to $523,847 from $210,604 in the comparable quarter last year. Loss from operations for the quarter decreased to $237,766 from a loss of $1,045,859 reported in the third quarter of 2006. Net loss for the quarter was $326,393, or $0.00 per share, compared to $966,358, or $0.00 per share, for the comparable quarter last year.
Revenue for the first nine months was $1,517,615, up 77.8% from revenue of $853,637 reported for the comparable period last year. Gross profit for the first nine months of 2007 increased 104% to $1,204,121 from $589,856 reported in the same period last year. Net loss decreased to $715,793, or $0.01 per share, from $1,603,609, or $0.01 per share, reported in the comparable quarter last year.
CEO and Chairman Dave Andrus said, "Diatect's third quarter results reflected continuing financial improvement for our company. Our notable increase in sales and our ability to hold down production costs produced gross profit margins for the quarter of 79.7%. This compared with the 76.4% reported in the third quarter of 2006. Gross profit margin for the first nine months of 2007 also improved to 79.3% up from the 69% reported last year's third quarter.
"These results reflect the steadily improving tone of our business as we continue to record excellent sales growth in a number of areas including online sales for our Results(TM) line of products. We are investing additional resources into our sales and marketing effort and we believe this will help produce a further improved 2008 result for us and for our shareholders as we expand our growing list of satisfied customers," Andrus said.
About Diatect International(TM)
Diatect International Corporation produces, markets and distributes eco-friendly and sustainable insecticides for agricultural, commercial and retail markets. Their EPA-labeled products are available through nation-wide distributors, retailers, and via telephone and Internet sales. For more information, please visit http://www.deadbugsnaturally.com or http://www.diatect.com.
An investment profile on Diatect is available at http://www.hawkassociates.com/dtctprofile.aspx.
For more information, contact Diatect International Shareholder Services at 435-654-4370, e-mail: shareholderservices@diatect.com, or Antonella Montagna or Julie Marshall, Hawk Associates, 305-451-1888, e-mail: info@hawkassociates.com. To receive e-mail notice of future releases sign up at http://www.hawkassociates.com/email.aspx.
This announcement includes forward-looking statements that involve risks and uncertainties. While these statements are made to convey to the public Diatect's progress, business potential and growth prospects, readers are cautioned that forward-looking statements represent management's opinion. Such statements are made based upon current expectations that are subject to risk and uncertainty. In particular, management's estimates of future revenue amounts and timing are based upon product delivery schedules, which may be subject to unforeseen delays. Diatect does not undertake to update forward-looking statements in this news release to reflect actual results of its marketing plan and changes in assumptions or other factors affecting forward-looking information.
Source: Diatect International Corporation
----------------------------------------------
For Diatect International Corporation
Eber City
Hawk Associates Inc.
Antonella Montagna or Julie Marshall
Phone: 305-451-1888
E-mail: info@hawkassociates.com
What's the deal? I bought in 2 years ago on a whim and now see 60% gain in my folio today. Do you expect more?
Just spoke to DTCT's IR company Hawke Associates, they said since DTCT stopped reporting that he did not have any current info on share structure but that evidently the 1st Q of this year was their best ever and that they are working with an investment bank company to clean up the stock...
Hawke Associates
305-451-1888
Very Interesting
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