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Yeah,this train is full of bagholders.
It will be making frequent and unscheduled stops along the way.
imo
gl2a
Here's to teaching the old grid new tricks,lol
gl
Yep, she's getting leggy now...
Here's to Change!
Isn't there still a reverse split coming down the pike?
Ambient Corporation and Bel Fuse Inc. Enter Alliance
New Partnership to Support Growth in Smart Grid Deployments
Tuesday April 14, 2009, 8:00 am EDT
JERSEY CITY, N.J. & BOSTON--(BUSINESS WIRE)--Bel Fuse Inc. (NASDAQ: BELFA - News)(NASDAQ: BELFB - News) and Ambient Corporation (OTCBB: ABTG - News) announced today the formalization of their relationship through a master supply and alliance agreement to enable the development of products that will help accelerate smart grid deployments. With the execution of this agreement, the two companies will combine and leverage their individual strengths to bring smart grid solutions of the future to the electric utility market.
“Bel has a long tradition of innovation, developing cost-effective techniques for high volume manufacturing. Their history and reputation as a world class manufacturer who successfully partners with global technology leaders, makes them an ideal partner for Ambient,” stated John J. Joyce, President and CEO of Ambient Corporation.
Bel and Ambient have design engineers dedicated to identifying, developing, and ultimately manufacturing optimized solutions for Ambient’s utility clients. An aggressive development program enabling rapid and timely delivery of volume orders has been established to support next-generation communications node development and delivery. Together, the two companies are well positioned to successfully launch present and future products of the Ambient Smart Grid™ product line.
Daniel Bernstein, President and CEO of Bel Fuse Inc., stated, “We are pleased to form this alliance which represents an expansion of our expertise with powerline products. It’s a natural progression to smart grid technology and we’re excited to be partnering with Ambient to bring new solutions to this market.”
About Bel
Bel (www.belfuse.com) and its divisions, including Bel Power, are primarily engaged in the design, manufacture, and sale of products used in networking, telecommunications, high-speed data transmission, and consumer electronics. Products include magnetics (discrete components, power transformers and MagJack® connectors with integrated magnetics), modules (DC-DC converters, integrated analog front-end modules, custom designs), circuit protection (miniature, micro and surface mount fuses) and interconnect devices (passive jacks, plugs and cable assemblies). The Company operates facilities around the world.
About Ambient Corporation
Ambient designs, develops and markets Ambient Smart Grid™ communications technologies and equipment. Using proprietary, open standards-based technologies along with in-depth industry experience, Ambient provides utilities with solutions for creating smart grid communication platforms and technologies. Headquartered in Newton, MA, Ambient is a publicly traded company (OTCBB: ABTG - News). More information on Ambient is available at www.ambientcorp.com.
This press release contains forward-looking statements that involve substantial uncertainties and risks. These forward-looking statements are based upon our current expectations, estimates and projections about our business and our industry, and that reflect our beliefs and assumptions based upon information available to us at the date of this release. We caution readers that forward-looking statements are predictions based on our current expectations about future events. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that are difficult to predict. Our actual results, performance or achievements could differ materially from those expressed or implied by the forward-looking statements as a result of a number of factors, including but not limited to, changes in economic conditions generally and our market specifically, market acceptance of our products, changes in economic conditions generally and the smart grid market specifically, changes in technology, legislative or regulatory changes that affect us, the availability and sufficiency of working capital, introduction of competing products and the risks and uncertainties discussed under the heading "RISK FACTORS" in Item 1A of the Ambient and Item 1A of the Bel Annual Report on Form 10-K for the fiscal year ended December 31, 2008, and in our other filings with the Securities and Exchange Commission. We undertake no obligation to revise or update any forward-looking statement for any reason.
Ambient, Ambient Smart Grid, It’s Time to Teach an Old Grid New Tricks and AmbientNMS are registered trademarks of Ambient Corporation with the U.S. Patent and Trademark Office.
Contact:
Ambient Corporation
Anna E. Croop
Director of Corporate Communications
617-614-6739
acroop@ambientcorp.com
or
Bel Fuse Inc.
Donna Marganella
Marketing Communications Manager
585-676-9650, Ext. 108
dmarganella@belfuse.com
or
Berkman Associates, 310-826-5051
http://finance.yahoo.com/news/Ambient-Corporation-and-Bel-bw-14918097.html/print
US-Cuba policy shift could open market for many companies
Mon Apr 13, 2009 7:11pm EDT
By Leah Schnurr
NEW YORK, April 13 (Reuters) - The relaxation of some restrictions between the United States and Cuba on Monday is a step toward a policy shift that would benefit companies from cruise lines to freight operators, said the founder of a fund that bets on such companies.
For the past 15 years, Thomas Herzfeld's Herzfeld Caribbean Basin Fund (CUBA)has been investing in companies in the Caribbean that stood to see a gain in business if the 47-year-old trade embargo with Cuba was lifted.
Shares of the fund surged 41.1 percent to $7.97 after U.S. President Barack Obama lifted limits on family travel and money transfers by Cuban Americans in the United States to Cuba.
"I think everyone wants the embargo lifted, but it's not going to happen unless Cuba takes the positions the U.S. has requested," said Herzfeld, president and founder of Thomas J. Herzfeld Advisors, Inc, which runs the fund.
Herzfeld said he expects the travel restrictions on all Americans to be lifted shortly, which would particularly benefit cruise operators.
Indeed, Monday's news drove shares of Miami-based cruise operator Royal Caribbean (RCL.N: Quote, Profile, Research, Stock Buzz) RCL.L up 11.4 percent to $11.23 in New York, while the stock of Carnival Corp (CCL.N: Quote, Profile, Research, Stock Buzz) (CCL.L: Quote, Profile, Research, Stock Buzz), the world's largest cruise ship operator, rose 2.3 percent to $26.20.
Herzfeld said Royal Caribbean and Carnival could see a double benefit if they were allowed to set sail for Cuba.
"Half of the revenues of Royal and Carnival come from the Caribbean. We believe the opening of Cuba could actually double their business in the Caribbean because not only will people travel to Cuba, but they'll combine it with a trip to the eastern Caribbean or western Caribbean," Herzfeld said.
The fund has its largest investment in Seaboard Corporation (SEB.A: Quote, Profile, Research, Stock Buzz), which, along with a large pork business, runs a containerized shipping service between the United States, the Caribbean Basin and Central and South America.
HOLA, WESTERN UNION!
Western Union (WU.N: Quote, Profile, Research, Stock Buzz), the world's largest payment transfer company, could also benefit from an easing of limits on money transfers as Cuban Americans send more money home to their families.
Herzfeld said the fund originally invested in companies that would do well regardless of whether the trade embargo was scrapped. But the gathering feeling of a policy change from Washington has prompted the fund to invest in companies that may not be making money now, but have a business plan for Cuba.
"With the election of President Obama, it seemed to many of us there was a much greater opportunity now than under any other U.S. president for the embargo to be lifted," Herzfeld said.
However, Herzfeld noted that Cuba is going to have to make efforts to implement long-demanded democratic reforms before the trade embargo is banished altogether.
"The first major announcement from Cuba I would like to see would be the release of political prisoners. That would really break the logjam." (Editing by Jan Paschal)
© Thomson Reuters 2009. All rights reserved. Users may download and print extracts of content from this website for their own personal and non-commercial use only. Republication or redistribution of Thomson Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters and its logo are registered trademarks or trademarks of the Thomson Reuters group of companies around the world.
http://www.reuters.com/articlePrint?articleId=INN1338919120090413
Gee, thanks Woogs...what would we do without you?
lol
Fidel Castro Wonders How Cuba Can Help Obama
HAVANA (AP)- A "very healthy, very energetic" Fidel Castro asked visiting Congressional Black Caucus members what Cuba could do to help President Barack Obama improve bilateral relations during his first meeting with U.S. officials since falling ill in 2006.
(more...)
http://wcbstv.com/politics/cuba.obama.relations.2.979578.html
Morning Edition, April 8, 2009 · Three Democratic members of Congress had a rare meeting in Cuba on Tuesday with former Cuban leader Fidel Castro — his first known encounter with U.S. officials since he fell ill in 2006. And they came away convinced that the Cuban government wants to end half a century of hostile relations with the U.S.
http://www.npr.org/templates/story/story.php?storyId=102863587&ft=1&f=1004
at this point, I'm just a clueless decorator with nothing to decorate
Have you considered that the designer is a minimalist and he actually likes the look of nothing better than all that pesky lawsuit fodder that was floating around this board for so long?
What is the name of this company you are trying to promote?
tmstocks, Any litigations pending that investors should be aware of here?????????????????????????????????????????!!! Sorry, my keyboard is stuck on DUMBFOUNDED
Not too sure there, Rose. I guess I assumed the deployment was in North Carolina, expanding the trial that was done there. I wasn't following Ambient too closely then(and don't have the time to sink into it now)I remember getting the pr and thinking it was a rollout based on the trial. Mostly, I remember thinking that somewhere a HAMster was screaming bloody murder,lol.
I guess the point is that we don't know and we aren't supposed to know but someday soon we might know. That information may or may not have material relevance to our collective future. Mostly, with this company I've learned not to hang onto any deadline for development, it's a recipe for disappointment.
ABTG is slave to the goliath of utilities, regulatory snafus and now, if they're lucky, the U.S. Congress, not to mention the vulturous hedge fund that swooped down to save them by sinking it's talons into their neck. Hey, there's a scoop that would sell newspapers... 'smartgrid money goes to pay evil offshore hedgefund'
LOL, you heard it here first, Rose.
Have a good weekend.
imo
Rose, I think Ambient could possibly
A)run past a quarter with any ute rollout or deployment
B)run on further clarification of Verizon a$$ociation or development of ute apps integrating "the node"
C)run on President Obama jumping up and down screaming "smart grid"
D)have a slim chance of making it anywhere and get stuck in a dilutive death spiral leading to an inevitable RS that will rid JJ of those pesky bagholders
E)all of the above
If you answered E, we're on the same page.
gl
Rose, here's a working link to the entire exhibit to that filing. Thing is, that deployment is probably already complete or durn close,imo. They booked $12+mil in revs from sales to Duke last year, that CDA was estimated at $10.7mil. Also the NDA predates the CDA by almost 3 years. There is no need to announce it's termination which may have occured weeks or months ago. The lack of any notice of the expiration of the NDA is even less concerning to me. It's just hype whipped up for content on FlamingBull or Yhoo or whatever village the idiot circus has set up tent in. Now somebody can say, "Oh, no!" and someone else can say "I told you so" and the board noise can continue ad nauseum, wasting bandwidth and creating ad revenues on the way.
Remember a few years ago when you wanted to be excited about the Duke trial being finished "any day now"...and I pointed out the obvious pitfall of the cycle of message board deadlines and fabricated timeframes. Same ting,imo...
http://www.sec.gov/Archives/edgar/data/1047919/000135448808000892/exhibit101.htm
gl2y
Hmm, a link would be real helpful...
so a NDA expired yesterday and this means that disclosure is required today? I don't really see the same conclusion.
imo
And they said there was no such thing
as an April Fool!
Come back more oftenly, Serfdom.
Best wishes to you and yours!
-Tim
Rose, A rumor with a "secret" deadline for a big announcement?
Haven't we been here before?
imo
PennyG, There are currently 255,877,032 common shares issued and outstanding, according to the transfer agent.
There are also 1,553,647 preferred shares that convert to common at a rate of 168 common shares each.
Fully diluted, this would leave an OS that exceeds the AS. So either they need to retire some preferred shares, increase the AS or RS the common shares.
As I said before, change is imminent.
imo
Sandy, FYI...
and more than half the AS used up already?
Do the math. It's fully diluted. IMO
Change is imminent.
CNN: 'Smart Grid' may be vulnerable to hackers
By Jeanne Meserve
CNN Homeland Security Correspondent
WASHINGTON (CNN) -- Is it really so smart to forge ahead with the high technology, digitally based electricity distribution and transmission system known as the "Smart Grid"? Tests have shown that a hacker can break into the system, and cybersecurity experts said a massive blackout could result.
Until the United States eliminates the Smart Grid's vulnerabilities, some experts said, deployment should proceed slowly.
"I think we are putting the cart before the horse here to get this stuff rolled out very fast," said Ed Skoudis, a co-founder of InGuardians, a network security research and consulting firm.
The Smart Grid will use automated meters, two-way communications and advanced sensors to improve electricity efficiency and reliability. The nation's utilities have embraced the concept and are installing millions of automated meters on homes across the country, the first phase in Smart Grid's deployment. President Obama has championed Smart Grid, and the recent stimulus bill allocated $4.5 billion for the high-tech program. Watch CNN report on Smart Grid »
But cybersecurity experts said some types of meters can be hacked, as can other points in the Smart Grid's communications systems. IOActive, a professional security services firm, determined that an attacker with $500 of equipment and materials and a background in electronics and software engineering could "take command and control of the [advanced meter infrastructure] allowing for the en masse manipulation of service to homes and businesses."
Experts said that once in the system, a hacker could gain control of thousands, even millions, of meters and shut them off simultaneously. A hacker also might be able to dramatically increase or decrease the demand for power, disrupting the load balance on the local power grid and causing a blackout. These experts said such a localized power outage would cascade to other parts of the grid, expanding the blackout. No one knows how big it could get.
The utility industry has made significant improvements to the power grid since the blackout of 2003, which disrupted power to an estimated 50 million people in the eastern United States and Canada. The utility industry said it is now better able to detect and isolate outages, and some elements of Smart Grid technology will enhance that capability.
Also, industry representatives said, they have no intention of putting an unsafe grid online.
"We are not going to manufacture this car without a seat belt," said Ed Legge, a spokesman for the Edison Electric Institute.
But as of now there are no clear-cut Smart Grid cybersecurity standards.
"There are a lot of discussions about where the requirements will come from and who will be ultimately responsible," said a Department of Homeland Security official, speaking on background.
Itron, a major manufacturer of automated meters, said its products are secure. Matt Spaur, a senior product marketing analyst, said his company tried to make hacking a meter "unappealing and unrewarding if you do it. And it is very traceable." But Spaur acknowledged that the Smart Grid is vulnerable.
"Any network can be hacked," he said.
One expert said security concerns have put "the fear of God" into the utility industry, vendors of Smart Grid products and the federal government. They have been working cooperatively to detect and mitigate vulnerabilities.
"Industry is working to make meters more secure. They have done a good job," said Joe Weiss, an expert on utility control systems.
Still, experts like Skoudis recommended that Smart Grid deployment be slowed until security vulnerabilities are addressed. Otherwise, he said, Smart Grid equipment deployed now may have to be replaced later.
Utility managers are taking heed.
Garry Brown, chairman of New York's Public Service Commission, said he believes the benefits of Smart Grid outweigh the risks, but his state is taking a hard look at cybersecurity before making large investments in the technologies.
"Before we go rushing headstrong into a Smart Grid concept, we have to make sure that we take care of business, in this case cybersecurity," he said.
William Sanders, principal investigator for the National Science Foundation Cyber Trust Center on Trustworthy Cyber Infrastructure for the Power Grid, concurs.
"I don't think the sky is falling," he said. "I don't think we should stop deployment until we have it all worked out. But we have to be vigilant and address security issues in the Smart Grid early on."
http://www.cnn.com/2009/TECH/03/20/smartgrid.vulnerability/index.html?section=cnn_latest
US FERC Takes Initial Step On 'Smart Grid' Technology
By Mark Peters, Of DOW JONES NEWSWIRES
NEW YORK -(Dow Jones)- Federal regulators Thursday took an initial step toward making the nation's electric transmission system more efficient through "smart grid" technology.
The Federal Energy Regulatory Commission released a proposed policy statement, outlining how it views a broad range of technologies to improve the nation's power grid. "Smart grid" is a catch-all phrase for a range of projects, from cutting losses when transporting electricity over high-voltage lines to installing appliances that respond to power-prices changes.
"The smart grid means a lot of things, but for us, the smart grid means a more efficient transmission system that can reduce emissions and increase reliability," Commissioner Philip Moeller said in a prepared statement.
FERC said its final policy statement would provide the power industry guidance on security, communication and the integration of renewable technologies such as wind and solar onto the grid. The commission also said utilities installing smart grid technologies will be allowed to recover their costs but must demonstrate system security and follow existing reliability standards.
Interest in the technologies are growing amid an influx of federal money for infrastructure projects and expected federal legislation to cut emissions of heat-trapping gases blamed for climate change from power plants and other sources.
FERC is only one participant among many developing regulations and incentives for the rollout of smart grid upgrades. The commission only oversees power markets and interstate transmission, while states regulate distribution networks and most new line projects. The Commerce Department's National Institute of Standards and Technology is creating security and interoperability standards for the smart grid.
FERC will take public comments on the policy statement over the next 45 days. Although not creating specific regulations, a policy statement gives the industry information on where FERC stands, said Barbara Connors, a spokeswoman for the commission.
FERC's actions Thursday come as Congress debates expanding the commission's authority over transmission projects because of the often laborious process utilities face when trying to win approval for grid projects on the state level.
-By Mark Peters, Dow Jones Newswires; 201-938-2061; mark.peters@dowjones.com
http://www.nasdaq.com/aspxcontent/NewsStory.aspx?cpath=20090319%5cACQDJON200903191326DOWJONESDJONLINE000845.htm&&mypage=newsheadlines&title=US%20FERC%20Takes%20Initial%20Step%20On%20'Smart%20Grid'%20Technology
The company didn't pay for "awareness"... BAG Financial did. BAG didn't care about the pps because they got such a deep discount. They just wanted to create volume to sell their shares into.imo
gl
Ambient Corporation Reports 2008 Year-End Results
Thursday March 12, 2009, 8:54 am EDT
Reports Record Annual Revenue of $12.6 Million
BOSTON, March 12 /PRNewswire-FirstCall/ -- Ambient Corporation (OTC Bulletin Board: ABTG - News), a smart grid communications technology company, announced today the filing of its 10-K report for the year ending December 31, 2008, reporting annual revenues of $12.6 million, up from $2.2 million for fiscal year 2007.
2008 revenues resulted from the continuing success and delivery of smart grid communications technologies to one of the largest electric utilities in the United States.
"This has been a strong year for smart grid initiatives and Ambient Corporation in particular. Our success at both product innovation, and our ability to move quickly from design to delivery is evident by the more than fivefold increase in our revenue in 2008," stated John J. Joyce, President and CEO of Ambient Corporation. "We are already working in 2009 to engage with new and existing partners and public utility customers to expand our deployments and further fuel the growth of our Ambient Smart Grid(TM) platform."
Operations Highlights - Year End
REVENUES: Revenues for the 2008 Period were $12,622,353, compared to $2,264,978, for the 2007 Period. Revenues during each of the periods were attributable to the sales of equipment, software and related network design and installation services from new deployments that were launched in 2008 and 2007. Revenues for the 2008 Period and 2007 Period related to the sales of equipment totaling $12,136,283 and $2,179,076, respectively. Revenues from the sale of software and related network design and installation services for the 2008 Period and the 2007 Period totaled $486,070 and $85,902, respectively.
COST OF GOODS SOLD: Cost of goods sold for the 2008 Period was $9,942,009 compared to $1,806,060 for the 2007 Period. Cost of goods sold included all costs related to manufacturing and selling products and services and consisted primarily of direct material costs. Cost of goods sold also included expenses related to the write down of inventory to the lower of cost or market. The increase in cost of goods sold during the 2008 Period reflects the increase in production to fill orders placed by one of the largest electric utilities in the United States. For the 2008 Period, cost of goods sold included an inventory reserve of $50,303 for excess, obsolete, and surplus inventory resulting from the transition from second to third generation technology.
GROSS PROFIT: Gross profits for the 2008 Period was $2,680,344 compared to $458,918 for the 2007 Period. The gross profit on hardware sales amounted to $2,194,274 and $386,369 for the 2008 Period and 2007 Period, respectively. The increase in gross profits during the 2008 Period reflects the increase in revenues resulting from the production to fill orders placed in 2008.
A more detailed description of Ambient's business, our results of operations and financial statements are contained in the Annual Report on Form 10-K filed on March 11, 2009.
About Ambient Corporation
Ambient designs, develops and markets Ambient Smart Grid(TM) communications technologies and equipment. Using proprietary, open standards-based technologies along with in-depth industry experience, Ambient provides utilities with solutions for creating smart grid communication platforms and technologies. Headquartered in Newton, MA, Ambient is a publicly traded company (OTC Bulletin Board: ABTG - News). More information on Ambient is available at www.ambientcorp.com.
This press release contains forward-looking statements that involve substantial uncertainties and risks. These forward-looking statements are based upon our current expectations, estimates and projections about our business and our industry, and that reflect our beliefs and assumptions based upon information available to us at the date of this release. We caution readers that forward-looking statements are predictions based on our current expectations about future events. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that are difficult to predict. Our actual results, performance or achievements could differ materially from those expressed or implied by the forward-looking statements as a result of a number of factors, including but not limited to, changes in economic conditions generally and our market specifically, market acceptance of new products, changes in economic conditions generally and the smart grid market specifically, changes in technology, legislative or regulatory changes that affect us, the availability and sufficiency of working capital, introduction of competing products and the risks and uncertainties discussed under the heading "RISK FACTORS" in Item 1 of our Annual Report on Form 10-K for the fiscal year ended December 31, 2008, and in our other filings with the Securities and Exchange Commission. We undertake no obligation to revise or update any forward-looking statement for any reason.
Ambient, Ambient Smart Grid, It's Time to Teach an Old Grid New Tricks and AmbientNMS are registered trademarks of Ambient Corporation with the U.S. Patent and Trademark Office.
http://finance.yahoo.com/news/Ambient-Corporation-Reports-prnews-14615426.html/print
JVA...Coffee Holding Co., Inc. Reports Quarter End Results
Wednesday March 11, 2009, 9:15 am EDT
BROOKLYN, N.Y., March 11, 2009 (GLOBE NEWSWIRE) -- Coffee Holding Co., Inc. (AMEX:JVA - News) today announced its operating results for the three months ended January 31, 2009. In this release, the Company:
* Reports net income of $391,801, or $0.07 per share (basic and
diluted) for the three months ended January 31, 2009
* Reports net sales of $18,857,870 for the three months ended January
31, 2009; and
* Reports sales growth of 26% for the three months ended January 31,
2009 compared to the three months ended January 31, 2008.
We had a net income of $391,801, or $0.07 per share (basic and diluted), for the three months ended January 31, 2009 compared to net income of $182,265, or $0.03 per share (basic and diluted), for the three months ended January 31, 2008. The increase in net income primarily reflects increased net sales, which resulted in an increase in gross profit.
Net sales totaled $18,857,870 for the three months ended January 31, 2009, an increase of $3,895,329, or 26%, from $14,962,541 for the three months ended January 31, 2008. The increase in net sales reflects both increased amounts of green coffee, branded coffee and private label coffee sold as well as increased sales prices compared to the first quarter of fiscal 2008.
Cost of sales for the three months ended January 31, 2009 was $16,742,775 or 88.8% of net sales, as compared to $13,082,423 or 87.4% of net sales for the three months ended January 31, 2008. The increase in cost of sales primarily reflects the increased cost of green coffee. Green coffee purchases increased $3,019,335 from $11,328,822 to $14,348,157 due to higher private label and green coffee sales volumes. Net gains on options and futures contracts, a component of cost of sales, equaled $283,011 for the first quarter of fiscal 2009 compared to $593,443 for the first quarter of fiscal 2008.
Total operating expenses decreased by $133,621, or 8.7%, to $1,406,680 for the three months ended January 31, 2009 from $1,540,301 for the three months ended January 31, 2008. The decrease in operating expenses was due to decreases in selling and administrative expense of $122,093 and officers' salaries of $11,528. The decrease in selling and administrative expenses mainly reflects decreases of approximately $88,000 in office salaries and the corresponding payroll costs, $31,000 in repairs and maintenance costs, $14,000 in equipment rental costs, $20,000 in licensing fees, $16,000 of show & demo costs and $12,000 of packaging development costs partially offset by increases of $35,000 in insurance costs and $14,000 in setup costs for the Entenmann's products. The decrease in office salaries reflects our continued efforts to streamline the company to remain competitive. The decrease in repairs and maintenance and equipment rental reflects the rewards of our continued investment in upgrading our equipment. The decrease in licensing and packaging development is due to our being in year two of our Entenmann's production. The increase in insurance costs reflects the increased cost of workers compensation coverage. The increase in setup costs reflect costs incurred to promote our Entenmann's coffee products outside of the New York market.
We will be closing our manufacturing operations at our Brooklyn location on or about March 27, 2009. The majority of our processing will be moved to our Colorado facility with our Generations facility in Brecksville, Ohio becoming more involved with our everyday coffee purchasing. We have leased office and warehouse space located in Staten Island to house the corporate offices and serve as temporary storage of our product. We plan to sell the property located in Brooklyn in the near future. The sale of our Brooklyn property will enhance our already strong cash position and liquidity. We believe that these measures will reduce operating expenses, increase efficiencies and ultimately increase the profitability of our company.
``In these challenging times, we were happy to be able to perform as we did in this last quarter. Our cost cutting initiatives that took effect over the last few months found their way to the bottom line to show improved operating results and higher profits. Additionally, these cost cutting measures and attempts for higher margins did not come at the expense of sales as our revenues grew by almost $4 million, or 26%, during this period even with the underlying price of green coffee approximately 15% lower year over year,'' said Andrew Gordon, President and Chief Executive Officer.
``With the closing of our Brooklyn facility sometime in the next 30 days, we expect to see even more cost savings and gain additional production efficiencies by operating mainly out of our larger, more spacious and newer production facility in La Junta, Colorado. Although we expect some increase in freight costs as we move finished product back East, these costs will be highly manageable as our original calculations were based on a much higher crude oil and distillate prices.
``Our new credit line with Sterling National Bank will also improve our liquidity as it increases our borrowing base by 10% more than what was available under our previous line with Merrill Lynch.
``We remain cognizant and prepared for the potential problems that exist in the current economic environment, but we believe we are continuing to move in the right direction as a company,'' Mr. Gordon added.
About Coffee Holding
Coffee Holding is a leading integrated wholesale coffee roaster and dealer in the United States and one of the few coffee companies that offers a broad array of coffee products across the entire spectrum of consumer tastes, preferences and price points. Coffee Holding has been a family operated business for three generations and has remained profitable through varying cycles in the coffee industry and the economy. The Company's private label and branded coffee products are sold throughout the United States, Canada and abroad to supermarkets, wholesalers, and individually owned and multi-unit retail customers.
Any statements that are not historical facts contained in this release are ``forward-looking statements'' within the meaning of the Private Securities Litigation Reform Act of 1995. It is possible that the assumptions made by management for purposes of such statements may not materialize. Actual results may differ materially from those projected or implied in any forward-looking statements. Such statements may involve risks and uncertainties, including but not limited to those relating to product demand, pricing, market acceptance, the effect of economic conditions, intellectual property rights, the outcome of competitive products, risks in product development, the results of financing efforts, the ability to complete transactions, and other factors discussed from time to time in the Company's Securities and Exchange Commission filings. The Company undertakes no obligation to update or revise any forward-looking statement for events or circumstances after the date on which such statement is made.
COFFEE HOLDING CO., INC
CONDENSED CONSOLIDATED BALANCE SHEETS
JANUARY 31, 2009 and OCTOBER 31, 2008
January 31, October 31,
2009 2008
------------ ------------
(unaudited)
- ASSETS -
CURRENT ASSETS:
Cash and cash equivalents $ 1,844,462 $ 963,298
Commodities held at broker 775,608 342,269
Accounts receivable, net of allowances
of $141,915 for 2009 and 2008 8,025,381 9,067,797
Inventories 4,803,494 5,046,554
Prepaid expenses and other current assets 252,773 284,900
Prepaid and refundable income taxes 1,014,799 1,025,935
Deferred income tax assets 612,877 923,877
------------ ------------
TOTAL CURRENT ASSETS 17,329,394 17,654,630
Property and equipment, at cost, net of
accumulated depreciation of $5,161,629
and $5,020,573 for 2009 and 2008,
respectively 2,730,321 2,804,053
Deposits and other assets 550,606 542,893
------------ ------------
TOTAL ASSETS $ 20,610,321 $ 21,001,576
============ ============
- LIABILITIES AND STOCKHOLDERS' EQUITY -
CURRENT LIABILITIES:
Accounts payable and accrued expenses $ 8,839,811 $ 9,120,124
Line of credit borrowings -- 3,522,207
------------ ------------
TOTAL CURRENT LIABILITIES 8,839,811 12,642,331
Line of credit borrowings 3,082,076 --
Deferred income tax liabilities 39,500 86,000
Deferred rent 77,236 69,959
Deferred compensation payable 331,932 352,637
------------ ------------
TOTAL LIABILITIES 12,370,555 13,150,927
------------ ------------
MINORITY INTEREST 4,674 3,226
------------ ------------
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY:
Preferred stock, par value $.001 per share;
10,000,000 shares authorized; none issued -- --
Common stock, par value $.001 per share;
30,000,000 shares authorized, 5,529,830
shares issued for 2009 and 2008 5,530 5,530
Additional paid-in capital 7,327,023 7,327,023
Retained earnings 1,196,406 804,605
Less: Treasury stock, 87,614 and 84,314
common shares, at cost for 2009 and
2008, respectively (293,867) (289,735)
------------ ------------
TOTAL STOCKHOLDERS' EQUITY 8,235,092 7,847,423
------------ ------------
TOTAL LIABILITIES AND STOCKHOLDERS'
EQUITY $ 20,610,321 $ 21,001,576
============ ============
COFFEE HOLDING CO., INC
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
THREE MONTHS ENDED JANUARY 31, 2009 AND 2008 (UNAUDITED)
2009 2008
----------- -----------
NET SALES $18,857,870 $14,962,541
COST OF SALES 16,742,775 13,082,423
----------- -----------
GROSS PROFIT 2,115,095 1,880,118
----------- -----------
OPERATING EXPENSES:
Selling and administrative 1,256,831 1,378,924
Officers' salaries 149,849 161,377
----------- -----------
TOTALS 1,406,680 1,540,301
----------- -----------
INCOME FROM OPERATIONS 708,415 339,817
----------- -----------
OTHER INCOME (EXPENSE):
Interest income 2,265 24,271
Interest expense (40,794) (29,006)
----------- -----------
TOTALS (38,529) (4,735)
----------- -----------
INCOME BEFORE PROVISION FOR INCOME
TAXES AND MINORITY INTEREST IN SUBSIDIARY 669,886 335,082
Provision for income taxes 276,636 142,051
----------- -----------
INCOME BEFORE MINORITY INTEREST 393,250 193,031
Minority interest in loss of subsidiary (1,449) (10,766)
----------- -----------
NET INCOME $ 391,801 $ 182,265
=========== ===========
Basic and diluted earnings per share $ .07 $ .03
=========== ===========
Weighted average common shares
outstanding:
Basic and diluted 5,442,603 5,506,326
=========== ===========
COFFEE HOLDING CO., INC
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
THREE MONTHS ENDED JANUARY 31, 2009 AND 2008 (UNAUDITED)
2009 2008
OPERATING ACTIVITIES: ----------- -----------
Net income $ 391,801 $ 182,265
Adjustments to reconcile net income
to net cash provided by operating
activities:
Unrealized (gains) losses on options
and futures (130,636) 8,863
Depreciation and amortization 141,056 119,572
Deferred rent amortization 7,277 --
Deferred income taxes 264,500 (8,500)
Minority interest 1,449 10,766
Changes in operating assets and liabilities:
Commodities held at broker (302,703) 376,796
Accounts receivable 1,042,416 1,587,124
Inventories 243,060 (237,416)
Prepaid expenses and other assets 32,127 18,591
Prepaid and refundable income taxes 11,136 127,694
Accounts payable and accrued expenses (280,313) (1,825,256)
Deposits and other assets (28,419) 41,813
----------- -----------
Net cash provided by operating activities 1,392,751 402,312
----------- -----------
INVESTING ACTIVITIES:
Purchases of property and equipment (67,324) (107,965)
----------- -----------
Net cash (used in) investing activities (67,324) (107,965)
----------- -----------
FINANCING ACTIVITIES:
Advances under bank line of credit 14,919,844 14,282,082
Principal payments under bank line
of credit (15,359,975) (14,290,020)
Purchase of treasury stock (4,132) (88,017)
----------- -----------
Net cash (used in) financing activities (444,263) (95,955)
----------- -----------
NET INCREASE IN CASH 881,164 198,392
Cash and cash equivalents, beginning
of year 963,298 890,649
----------- -----------
CASH, END OF PERIOD $ 1,844,462 $ 1,089,041
=========== ===========
SUPPLEMENTAL DISCLOSURE OF CASH FLOW DATA:
Interest paid $ 51,879 $ 19,515
=========== ===========
Income taxes paid $ -- $ 24,962
=========== ===========
Contact:
Coffee Holding Co., Inc.
Andrew Gordon, President & CEO
(718) 832-0800
http://finance.yahoo.com/news/Coffee-Holding-Co-Inc-Reports-pz-14603559.html/print
posted by: Killtoy Date: Thursday, March 05, 2009 10:30:22 AM
In reply to: shortsinthesand who wrote msg# 11274 Post # of 11301
lies ibox has had 255 showing longer than a month. Sand cares about all of our money alright...
When clearly the ibox reads:
Outstanding- 225,577,032 As of January, 29th, 2009 at close of markets. According to the transfer agent.
Care to retract your vicious attack on other posters or are you just going to leave that out there to muddy the water?
Check your glasses, killer. That's not what it says at all.
imo
"TerraSolve/LIA is a state-of-the-art computer modeling; development and testing lab, which collects data from clients around the world to run projects simulations ranging from usability, capacity, spread and weather modeling testing "
Do this state of the art computer modeling lab have a website?
Great DD, cubeman! Thanks for bringing it.
That's better than any half related article and explains all the healthy support we're seeing.imo
gl
How do you know Bauer & Associates is a CPA? What gives you such a notion? Neither their letterhead nor their review makes that claim.
The Bauer & Associates in Lakewood, Wa. is H.H. Bauer & Associates,Inc. dba Bauer Cases. They are not CPAs, they make fancy suitcases.
tia
Wow, You're right!
Here's their website:
http://www.bauercases.com/bauer/home.htm
Me thinks it unlikely that they provide accounting services.
Any other unrelated tidbits you would like to throw out there?
Thanks, Papa. I recall they did a review of the first quarterly financials but I don't think I saw them signed on to anything since then.
(dig,dig,dig)
Yep, here they are on page 24 of the 2nd Q 2008 statement:
http://www.pinksheets.com/otciq/ajax/showFinancialReportById.pdf?id=16003
Bauer & Associates
London Dallas New York Seattle
..but no phone number. Anyway, thanks for that. I'll give this another few minutes tomorrow. Today's coming at me fast right now,lol.
gl
Papa, wasn't it you who made some effort to contact Bauer & Associates, the accountant of record? What happened with that? Do you have a phone number for Bauer & Associates that you could share with the board? I was unable to locate one.
According to the most recent PR (I know, a highly suspect info source,lol) Steve Young is still the COO. fwiw
I find it curiously amusing that any honest long would defend Fischer's decision not to conduct financial audits.
First, he said they were already done to European standards, as required by one of their "contracts". These audited financials were supposed to be available to shareholders. Anybody get their copy???
Next, I heard he was deciding on which of the big three accounting firms he would choose to audit (to GAAP stds) the financial statements that they have been releasing. Tough choice, I know.
Lately, I hear that no audits are in the works but they need to complete certain contract negotiations before they can begin auditing past financials? Huh? So audits can only happen when there is no pending contracts? Only when all contracts have been finalized? It seems that in a healthy business that will never happen as there should always be ongoing negotiations from the sales dept.
I agree with your statement, he doesn't have to do audited financials. But then why does he keep talking about them like they are a priority. I can't imagine a situation where a long held shareholder would support this sort of promotional deception from Mr. Fischer. (I see no evidence that he has a PhD, so I refuse to bestow such credentials upon him.)
This company needs a CEO. Your managing director apparently likes the ship where it is, stuck on the reef and taking on water. One might wonder if the manipulation originates from within.
IMO
glta
Hmm...how many shares were added last month?
Have all those shares been sold already or might they still be hitting the mkt at the bid?
Don't forget they're on the 5 year plan,lol.
Beware of SPAM:
Equities Newsletter Vol VII issue I : BWIH.OB
The basics. In this time of uncertainty we can still find Opportunity. We just have to know where to look.
One thing we can be Certain of is that companies involved in basic daily need-type sectors are going to continue to do well.
Within this sector we look for those Special Gems which have a Solid foundation yet are Innovative enough to Sustain Strong Growth.
That is what we bring you this week with BWI Holdings.
BWI Holdings
Company: BWHI ($0.85 +13.33%)
Near-Term Tarrget: $2.25
Long-Term Tarrget: $7.00
The emergence of BWHI has captivated the attention of a wide range of traaders.
This month is expected to be especially good with a well deserved PR drive.
BWI Holdings, Inc. is a waste solutions company in providing complete waste and recycling services to commercial, industrial, construction, homebuilding, oilfield and residential clients.
With their broad range of innovative services they offer their customers more value for the dollar.
BWIH is currently following its growth through acquisition strategy with exceptional success.
With regulations throughout North America pressing companies and individuals to be more vigilant in the way they handle their waste products we see vast opportunity for expansion of these distinctive services.
The company is confident that extraordinary growth and focus on customer needs will bring their stockkhoolders outstanding value for the confidence they have placed in the company.
2/20/77 Terrapin Station Studio Outtakes
Dancin' in the Streets, Sunrise, Passenger, Estimated Prophet, Fire on the Mountain, Equinox, Terrapin Station, Samson and Delilah
http://www.archive.org/download/gd77-02-20.sbd.moreno.9470.sbeok.shnf/gd77-02-20.sbd.moreno.9470.sbeok.shnf_vbr.m3u
rock on
this Smart Grid sector reminds me of the Video Game Industry in the late 90s
I think we just made it to the next level!
.088 x .10
smartgrid
smartgrid
smartgrid
Honeywell, Echelon, Ambient and Steffes Join Demand Response and Smart Grid Coalition
Fri Feb 13, 7:15 am ET
To: NATIONAL EDITORS
Contact: Dan Delurey of the Demand Response and Smart Grid Coalition (DRSG), +1-202-441-1420
WASHINGTON, Feb. 13 /PRNewswire-USNewswire/ -- The Demand Response and Smart Grid Coalition (DRSG) announced today that four more companies have joined the group to help it in its efforts to raise awareness among policymakers, stakeholders and customers of how demand response and smart grid technologies and practices will modernize and strengthen the national electricity system. The DRSG is the trade association for companies that provide products and services in the demand response and smart grid area. More information on DRSG can be found at www.drsgcoalition.org.
Dan Delurey, Executive Director of DRSG, said the new members help to show the diversity of technologies and product offerings in the smart grid space. "While many people are expressing support for the smart grid these days," said Delurey, "not everyone understands what kinds of things make up the smart grid. A look at our new members, and at the existing members of the Coalition, shows that there are many companies ready and able to start building the smart grid and deploying demand response to optimize its operation."
Honeywell is a $37 billion diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; automotive products; turbochargers; and specialty materials. The company is a leader in energy efficiency and renewable energy, and in all aspects of demand response -- from innovative smart thermostats and automated building controls to program design, marketing and delivery. Honeywell also provides turnkey advanced metering and energy conservation solutions to investor- and municipal-owned utilities. For additional information, visit www.honeywell.com.
Echelon Corporation is a leader in the worldwide transformation of the electricity grid into a smart, communicating energy network, connecting utilities to their customers, and providing customers with energy-aware homes and businesses that interact with conditions on the grid. Echelon's NES System is used by utilities to replace existing stand-alone electricity meters with an advanced metering network infrastructure that is open, inexpensive, reliable, and proven. Echelon's LonWorks(R) Infrastructure products extend the smart grid to everyday devices made by thousands of companiesconnecting them to each other and the grid. Echelon powers tens of millions of energy-aware devices worldwide. More information is available at www.echelon.com.
Ambient Corporation designs, develops and markets Ambient Smart Grid(TM) communications technologies and equipment. Utilizing open standards-based technologies along with in-depth industry experience, Ambient provides utilities with solutions for creating smart grid communication platforms and technologies. More information about Ambient, a publicly-traded company headquartered in Newton, MA, is available at www.ambientsmartgrid.com.
Steffes Corporation, based in Dickinson, ND, is a world-class manufacturer of Electric Thermal Storage (ETS) off-peak heating equipment for residential and small commercial applications. ETS allows low-cost electricity to be stored in the form of heat for use throughout the day. By utilizing a power company's off-peak electric rate and ETS equipment, owners of ETS heating systems can realize significant savings in their heating bills while having a very safe, comfortable, reliable and affordable heating system. At the same time, thermal heat storage equipment and its contribution to peak management helps to create a smart grid that provides greater support for renewable energy. More information is available at www.steffes.com/off-peak.
Delurey also took the opportunity of the announcement to comment on the Stimulus Bill which the Congress is poised to send to President Obama for his signature. "We are pleased as an industry to see the Stimulus bill include support for the Smart Grid. We believe that the funds provided to DOE for Smart Grid grants will be very important not only in helping the Smart Grid industry to grow and expand, but also in the creation of jobs and meeting other objectives of the Stimulus effort. We also are pleased to see new funding in the area of energy efficiency, given that most parties now recognize that to do energy efficiency properly today it is important to include demand response in efficiency programs and efforts. We are pleased to be part of the Stimulus Plan and look forward to moving forward to put smart grid technologies and practices in place."
About DRSG
The Demand Response and Smart Grid Coalition (DRSG) is the trade association for companies that provide products and services in the areas of demand response, energy storage, smart metering and other smart grid technologies and services. DRSG works to educate and provide information to policymakers, utilities, the media, the financial community and stakeholders on how demand response, smart grid technologies and practices can help modernize our electricity system and provide customers with new information and options for managing their electricity use.
Members of the DRSG Coalition include: Aclara, Ambient, Comverge, Conservation Services Group, Corporate Systems Engineering, CPower, Direct Energy, Echelon Corporation, Eka Systems, eMeter, EnergySolve, EnerNOC, Google, Honeywell, IBM, Ice Energy, Itron, Landis+Gyr, Orion Energy Systems, Sensus, Silver Spring Networks, SmartSynch, Steffes, SureGrid, Tendril, Trilliant Networks, and Ziphany. More information is available at www.drsgcoalition.org.
SOURCE Demand Response and Smart Grid Coalition
http://news.yahoo.com/s/usnw/20090213/pl_usnw/honeywell__echelon__ambient_and_steffes_join_demand_response_and_smart_grid_coalition