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DENVER, CO / ACCESSWIRE / April 5, 2017 / GrowGeneration Corp. $GRWG ("GrowGen" or the "Company") one of the largest specialty retail hydroponic and organic gardening stores, selling to both the commercial and home cannabis growers, with currently 10 locations in Colorado, one location in California and one in Nevada, announced today, that as a follow up to its recently announced financing from Merida Capital Partners, a cannabis infrastructure fund, it has entered into a strategic partnership with Merida to pursue opportunities across the infrastructure and ancillary cannabis industry.
As part of the agreement:
GrowGeneration will compensate Merida to provide advisory oversight and capital structuring for GrowGen's rapidly expanding footprint in both the cannabis equipment and cultivation technology verticals.
Merida will also be assisting in the launch of "GrowGeneration Home," an initiative to target the home grower with an array of indoor growing products for growing plants for clean food, clean air and clean medicine, serving the organic food grower and home cannabis grower verticals simultaneously.
Further, the companies announced that Merida will also receive a Board seat, which will allow Merida a greater role in capital structuring and strategic oversight as they work closer with GrowGen to manage their pipeline of growth opportunities.
Darren Lampert, Co-Founder and CEO, said, "Merida's connectivity to the cannabis space is vast, with relationships with the large cultivation facilities, strategic and complementary companies and investments in other strategic companies like New Frontier Data. Our company could not be more proud and excited to bring one of Merida's principals on as a board member. Merida's professionals have been successfully deploying capital in cannabis for nearly six years and their contribution to GrowGeneration, and our new GrowGeneration Home division will be invaluable as we continue to execute our expansion and growth plan."
Merida's Managing Partner, Mitch Baruchowitz, added, "We are excited to continue our work with GrowGeneration and collaborate with their team to use Merida's resources to create additional value for the rapidly expanding GrowGen portfolio. We have had a front seat to the incredible growth of GrowGen over the last three years, and are excited to assist their pursuit of strategic opportunities. Our addition to their Board will bring a wealth of governance and strategic oversight to an already well-functioning executive team. With their forward looking revenue guidance of $15MM, we look forward to supporting GrowGeneration's existing operations and movement into new verticals."
https://www.dailymarijuanaobserver.com/single-post/2017/04/05/-GRWG-GrowGeneration-and-Merida-Capital-Partners-Expand-Strategic-Partnership
https://www.otcmarkets.com/stock/GRWG/profile
DENVER, CO / ACCESSWIRE / April 5, 2017 / GrowGeneration Corp. $GRWG ("GrowGen" or the "Company") one of the largest specialty retail hydroponic and organic gardening stores, selling to both the commercial and home cannabis growers, with currently 10 locations in Colorado, one location in California and one in Nevada, announced today, that as a follow up to its recently announced financing from Merida Capital Partners, a cannabis infrastructure fund, it has entered into a strategic partnership with Merida to pursue opportunities across the infrastructure and ancillary cannabis industry.
As part of the agreement:
GrowGeneration will compensate Merida to provide advisory oversight and capital structuring for GrowGen's rapidly expanding footprint in both the cannabis equipment and cultivation technology verticals.
Merida will also be assisting in the launch of "GrowGeneration Home," an initiative to target the home grower with an array of indoor growing products for growing plants for clean food, clean air and clean medicine, serving the organic food grower and home cannabis grower verticals simultaneously.
Further, the companies announced that Merida will also receive a Board seat, which will allow Merida a greater role in capital structuring and strategic oversight as they work closer with GrowGen to manage their pipeline of growth opportunities.
Darren Lampert, Co-Founder and CEO, said, "Merida's connectivity to the cannabis space is vast, with relationships with the large cultivation facilities, strategic and complementary companies and investments in other strategic companies like New Frontier Data. Our company could not be more proud and excited to bring one of Merida's principals on as a board member. Merida's professionals have been successfully deploying capital in cannabis for nearly six years and their contribution to GrowGeneration, and our new GrowGeneration Home division will be invaluable as we continue to execute our expansion and growth plan."
Merida's Managing Partner, Mitch Baruchowitz, added, "We are excited to continue our work with GrowGeneration and collaborate with their team to use Merida's resources to create additional value for the rapidly expanding GrowGen portfolio. We have had a front seat to the incredible growth of GrowGen over the last three years, and are excited to assist their pursuit of strategic opportunities. Our addition to their Board will bring a wealth of governance and strategic oversight to an already well-functioning executive team. With their forward looking revenue guidance of $15MM, we look forward to supporting GrowGeneration's existing operations and movement into new verticals."
https://www.dailymarijuanaobserver.com/single-post/2017/04/05/-GRWG-GrowGeneration-and-Merida-Capital-Partners-Expand-Strategic-Partnership
$CONN..Over the past 12 months we have assembled a strong leadership team with significant credit and retail experience. We have created a roadmap to turn around our near-term financial results, while creating a sustainable and profitable business platform that appropriately balances credit risk with retail growth. We remain confident our turnaround strategies see taking hold and are encouraged by the direction we are headed. While we still have more hard work in front of us, we expect financial results to continue improving throughout fiscal 2018 and beyond. Based on our current outlook, we expect to return to full year profitability in fiscal 2018."
Conn's looks to be in line with there strategy,
as well as beating the estimates.
Very possibly a $20 stock this year.
http://ir.conns.com
$GRWG Full-year revenues up 130% to $8.0 million
Fourth quarter revenues up 130% to $2.4 million
Full-year same-store sales increase 50% or $1.4 million
Full-year net loss decreased to $431,246, inclusive of $304,123 in non-cash depreciation and stock-based compensation costs
The Company has $1.2 million in cash as of March 31, 2017...
...“We are aggressively expanding our business, with the recent recreational legalization in California, Nevada, Massachusetts and Maine, and medical legalization in Florida,” added Mr. Lampert. “Due to increasing demand, we are seeking to open larger stores, generating higher revenue and profitability. GrowGeneration is now at an annualized revenue run rate of over $10 million and we believe that we are well-positioned to continue to execute our expansion strategy to offer a one-stop and personalized shopping solutions for both the commercial and home growers. The store additions we have planned for 2017, along with continued same-store sales growth, are expected to increase our annualized revenue by nearly 100% to approximately $15 million.”
...more
https://www.otcmarkets.com/stock/GRWG/news/GrowGeneration-Achieves-Record-2016-Sales--Up-130-?id=154935&b=y
2016 10k
https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11968223#F10K2016_GROWGENERATION_HTM_A_011
DENVER, CO--( March 14, 2017) - GrowGeneration Corp. (OTCQB: GRWG ), GrowGeneration (“GrowGen” or the “Company”), one of the largest specialty retail hydroponic and organic gardening store chains, selling to both the commercial and home cannabis markets, with currently 10 locations in Colorado, 1 location in California and 1 location in Las Vegas, NV., today announced that it has secured $1,650,000 in equity financing from Merida Capital Partners, a cannabis infrastructure fund, to continue fueling its expansion plans primarily in California and the West Coast. The transaction was priced at $2.00 with a warrant to purchase common shares at $2.75. The transaction, when factoring in warrant exercises, will total $3.92M in capital into the Company. The warrant is callable when GrowGen trades at $4.12 or higher.
https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11931343
Share Structure
Market Value1 $26,881,409 a/o Apr 03, 2017
Authorized Shares 100,000,000 a/o Mar 30, 2017
Outstanding Shares 12,561,406 a/o Mar 30, 2017
Float 5,703,548 a/o Oct 14, 2016
https://www.otcmarkets.com/stock/GRWG/profile
From SA
https://seekingalpha.com/instablog/9857091-michael-hooper/4961591-hydroponics-retailer-expands-legal-cannabis-states
GrowGeneration Corp. (“GrowGen”)
http://www.growgeneration.com
$GRWG Full-year revenues up 130% to $8.0 million
Fourth quarter revenues up 130% to $2.4 million
Full-year same-store sales increase 50% or $1.4 million
Full-year net loss decreased to $431,246, inclusive of $304,123 in non-cash depreciation and stock-based compensation costs
The Company has $1.2 million in cash as of March 31, 2017...
...“We are aggressively expanding our business, with the recent recreational legalization in California, Nevada, Massachusetts and Maine, and medical legalization in Florida,” added Mr. Lampert. “Due to increasing demand, we are seeking to open larger stores, generating higher revenue and profitability. GrowGeneration is now at an annualized revenue run rate of over $10 million and we believe that we are well-positioned to continue to execute our expansion strategy to offer a one-stop and personalized shopping solutions for both the commercial and home growers. The store additions we have planned for 2017, along with continued same-store sales growth, are expected to increase our annualized revenue by nearly 100% to approximately $15 million.”
...more
https://www.otcmarkets.com/stock/GRWG/news/GrowGeneration-Achieves-Record-2016-Sales--Up-130-?id=154935&b=y
2016 10k
https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11968223#F10K2016_GROWGENERATION_HTM_A_011
DENVER, CO--( March 14, 2017) - GrowGeneration Corp. (OTCQB: GRWG ), GrowGeneration (“GrowGen” or the “Company”), one of the largest specialty retail hydroponic and organic gardening store chains, selling to both the commercial and home cannabis markets, with currently 10 locations in Colorado, 1 location in California and 1 location in Las Vegas, NV., today announced that it has secured $1,650,000 in equity financing from Merida Capital Partners, a cannabis infrastructure fund, to continue fueling its expansion plans primarily in California and the West Coast. The transaction was priced at $2.00 with a warrant to purchase common shares at $2.75. The transaction, when factoring in warrant exercises, will total $3.92M in capital into the Company. The warrant is callable when GrowGen trades at $4.12 or higher.
https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11931343
Share Structure
Market Value1 $26,881,409 a/o Apr 03, 2017
Authorized Shares 100,000,000 a/o Mar 30, 2017
Outstanding Shares 12,561,406 a/o Mar 30, 2017
Float 5,703,548 a/o Oct 14, 2016
https://www.otcmarkets.com/stock/GRWG/profile
From SA
https://seekingalpha.com/instablog/9857091-michael-hooper/4961591-hydroponics-retailer-expands-legal-cannabis-states
GrowGeneration Corp. (“GrowGen”)
http://www.growgeneration.com
Only got filled 2020 shrs @27 a while back so I'll stick around
and try to pick up a few more.
And yes a great 10k
$CONN..10.9 +2.45 (28.99%)..Over the past 12 months we have assembled a strong leadership team with significant credit and retail experience. We have created a roadmap to turn around our near-term financial results, while creating a sustainable and profitable business platform that appropriately balances credit risk with retail growth. We remain confident our turnaround strategies see taking hold and are encouraged by the direction we are headed. While we still have more hard work in front of us, we expect financial results to continue improving throughout fiscal 2018 and beyond. Based on our current outlook, we expect to return to full year profitability in fiscal 2018."
Conn's looks to be in line with there strategy,
as well as beating the estimates.
Very possibly a $20 stock this year.
http://ir.conns.com
$GRWG 2.15..GrowGeneration Achieves Record 2016 Sales, Up 130%
PR Newswire
DENVER, April 3, 2017
DENVER, April 3, 2017 /PRNewswire/ -- GrowGeneration Corp. (OTCQB:GRWG), ("GrowGen" or the "Company") one of the largest specialty retail hydroponic and organic gardening stores, selling to both the commercial and home cannabis growers, with currently 10 locations in Colorado, one location in California and one in Nevada, today reported record financial results for its fiscal year ended December 31, 2016.
Financial Highlights:
Full-year revenues up 130% to $8.0 million
Fourth quarter revenues up 130% to $2.4 million
Full-year same-store sales increase 50% or $1.4 million
Full-year net loss decreased to $431,246, inclusive of $304,123 in non-cash depreciation and stock-based compensation costs
The Company has $1.2 million in cash as of March 31, 2017
Darren Lampert, Co-Founder and CEO, said, "This was a record year for GrowGeneration, clearly demonstrating the scalability of our business plan and the demand for our products. We are achieving scale, as part of our expansion plan, and this was the fourth consecutive quarter of sequential revenue growth. We continue to see our growth 'lock step' with the growth of the cannabis market, as the cultivator's demand for equipment and supplies increases with the demand for legalized cannabis products."
"We are aggressively expanding our business, with the recent recreational legalization in California, Nevada, Massachusetts and Maine, and medical legalization in Florida," added Mr. Lampert. "Due to increasing demand, we are seeking to open larger stores, generating higher revenue and profitability. GrowGeneration is now at an annualized revenue run rate of over $10 million and we believe that we are well-positioned to continue to execute our expansion strategy to offer a one-stop and personalized shopping solutions for both the commercial and home growers. The store additions we have planned for 2017, along with continued same-store sales growth, are expected to increase our annualized revenue by nearly 100% to approximately $15 million."
Full-Year Financial Results:
Revenues for the year ended December 31, 2016 increased 130% to $8.0 million, compared to $3.5 million for the year ended December 31, 2015. The revenue growth was primarily attributable to the Company's continued sales growth across Colorado and Northern California.
Same Store Sales:
For the year ended December 31, 2016, the Company had a total of five stores, opened more than a year, generating net revenue of $4.4 million, compared to $2.9 million for the same five stores for the year ended December 31, 2015, an increase of $1.5 million.
In 2015, the Company opened three new stores. During 2016, these three stores generated revenue of $2.4 million, compared to $514,429 for the same three stores in 2015. During 2016, the Company opened two new stores that generated net revenue of $1.2 million.
Cost of sales for the year ended December 31, 2016 increased $3.4 million to $5.8 million as compared to $2.4 million for the year ended December 31, 2015. The increase was due to an increase in the company's revenue. Gross profit was $2.2 million for the year ended December 31, 2016, resulting in a 28% gross margin, compared to $1.1 million for the year ended December 31, 2015, a gross margin of 32%.The margin decrease was due to the increase in the number of commercial accounts ,that are higher revenue ,lower margin customers. The increase of $1,100,967 was due to an increase in the company's revenue primarily due to the Company's continued penetration of the Colorado and California markets.
General and administrative expenses for the year ended December 31, 2016 increased $1.0 million to $2.6 million as compared to $1.6 million for the year ended December 31, 2015. The increase was mainly due to increased payroll expense and rent expense, associated with the opening of new stores, as well as professional fees, broker commissions, travel expense and non-cash expenses.
For the year ended December 31, 2016, the Company reported a net loss of $431,246, or ($0.5) per share, compared with a net loss of $528,750, or ($0.08) per share, in the year ended December 31, 2015. The decrease was mainly due to an increase in sales and less non-cash expenses.
Non-cash general and administrative expenses for the year ended December 31, 2016 increased $47,946 to $304,123 as compared to $256,177 for the year ended December 31, 2015. The increase was mainly due to non-cash general and administrative expenses for the year ended December 31, 2016 totaling $304,123, with (i) depreciation of $52,962, (ii) stock and stock option compensation of $184,333, and (iii) bad debt expense of $66,828.
Strengthening of Balance Sheet
As of December 31, 2016, the Company reported $606,644 in cash and total current assets of $4.4 million, compared with $699,417 and $2.6 million, respectively, as of December 31, 2015. Current liabilities were $884,644 at December 31, 2016, compared to $456,689 at December 31, 2015. The Company ended 2016 with a working capital surplus of $2.8 million compared to $1.6 million at December 31, 2015. The Company raised $1.7 million in equity capital during 2016, and has raised $5.5 million since inception. The Company has $1.2 million in cash as of March 31, 2017.
About GrowGeneration Corp.:
GrowGeneration Corp. ("GrowGen") owns and operates specialty retail hydroponic and organic gardening stores. Currently, GrowGen has 12 stores, which includes 10 locations in Colorado, 1 location in California and 1 location in Nevada. GrowGen carries and sells thousands of products, including organic nutrients and soils, advanced lighting technology and state of the art hydroponic equipment to be used indoors and outdoors by commercial and home growers. Our mission is to own and operate GrowGeneration branded stores in all of the major legalized cannabis states. Management estimates that roughly 1,000 hydroponic stores are in operation in the U.S. According to New Frontier Data, the U.S. cannabis market was $5.7 billion in 2015 and is expected to have reached $7.2 billion at the end of 2016. By 2020 the market is estimated to reach over $23 billion with a compound annual growth rate of 32%.
https://www.otcmarkets.com/stock/GRWG/news/GrowGeneration-Achieves-Record-2016-Sales--Up-130-?id=154923&b=y
10k
https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11968223#F10K2016_GROWGENERATION_HTM_A_011
http://www.growgeneration.com
https://www.otcmarkets.com/stock/GRWG/profile
$GRWG 2.15..GrowGeneration Achieves Record 2016 Sales, Up 130%
PR Newswire
DENVER, April 3, 2017
DENVER, April 3, 2017 /PRNewswire/ -- GrowGeneration Corp. (OTCQB:GRWG), ("GrowGen" or the "Company") one of the largest specialty retail hydroponic and organic gardening stores, selling to both the commercial and home cannabis growers, with currently 10 locations in Colorado, one location in California and one in Nevada, today reported record financial results for its fiscal year ended December 31, 2016.
Financial Highlights:
Full-year revenues up 130% to $8.0 million
Fourth quarter revenues up 130% to $2.4 million
Full-year same-store sales increase 50% or $1.4 million
Full-year net loss decreased to $431,246, inclusive of $304,123 in non-cash depreciation and stock-based compensation costs
The Company has $1.2 million in cash as of March 31, 2017
Darren Lampert, Co-Founder and CEO, said, "This was a record year for GrowGeneration, clearly demonstrating the scalability of our business plan and the demand for our products. We are achieving scale, as part of our expansion plan, and this was the fourth consecutive quarter of sequential revenue growth. We continue to see our growth 'lock step' with the growth of the cannabis market, as the cultivator's demand for equipment and supplies increases with the demand for legalized cannabis products."
"We are aggressively expanding our business, with the recent recreational legalization in California, Nevada, Massachusetts and Maine, and medical legalization in Florida," added Mr. Lampert. "Due to increasing demand, we are seeking to open larger stores, generating higher revenue and profitability. GrowGeneration is now at an annualized revenue run rate of over $10 million and we believe that we are well-positioned to continue to execute our expansion strategy to offer a one-stop and personalized shopping solutions for both the commercial and home growers. The store additions we have planned for 2017, along with continued same-store sales growth, are expected to increase our annualized revenue by nearly 100% to approximately $15 million."
Full-Year Financial Results:
Revenues for the year ended December 31, 2016 increased 130% to $8.0 million, compared to $3.5 million for the year ended December 31, 2015. The revenue growth was primarily attributable to the Company's continued sales growth across Colorado and Northern California.
Same Store Sales:
For the year ended December 31, 2016, the Company had a total of five stores, opened more than a year, generating net revenue of $4.4 million, compared to $2.9 million for the same five stores for the year ended December 31, 2015, an increase of $1.5 million.
In 2015, the Company opened three new stores. During 2016, these three stores generated revenue of $2.4 million, compared to $514,429 for the same three stores in 2015. During 2016, the Company opened two new stores that generated net revenue of $1.2 million.
Cost of sales for the year ended December 31, 2016 increased $3.4 million to $5.8 million as compared to $2.4 million for the year ended December 31, 2015. The increase was due to an increase in the company's revenue. Gross profit was $2.2 million for the year ended December 31, 2016, resulting in a 28% gross margin, compared to $1.1 million for the year ended December 31, 2015, a gross margin of 32%.The margin decrease was due to the increase in the number of commercial accounts ,that are higher revenue ,lower margin customers. The increase of $1,100,967 was due to an increase in the company's revenue primarily due to the Company's continued penetration of the Colorado and California markets.
General and administrative expenses for the year ended December 31, 2016 increased $1.0 million to $2.6 million as compared to $1.6 million for the year ended December 31, 2015. The increase was mainly due to increased payroll expense and rent expense, associated with the opening of new stores, as well as professional fees, broker commissions, travel expense and non-cash expenses.
For the year ended December 31, 2016, the Company reported a net loss of $431,246, or ($0.5) per share, compared with a net loss of $528,750, or ($0.08) per share, in the year ended December 31, 2015. The decrease was mainly due to an increase in sales and less non-cash expenses.
Non-cash general and administrative expenses for the year ended December 31, 2016 increased $47,946 to $304,123 as compared to $256,177 for the year ended December 31, 2015. The increase was mainly due to non-cash general and administrative expenses for the year ended December 31, 2016 totaling $304,123, with (i) depreciation of $52,962, (ii) stock and stock option compensation of $184,333, and (iii) bad debt expense of $66,828.
Strengthening of Balance Sheet
As of December 31, 2016, the Company reported $606,644 in cash and total current assets of $4.4 million, compared with $699,417 and $2.6 million, respectively, as of December 31, 2015. Current liabilities were $884,644 at December 31, 2016, compared to $456,689 at December 31, 2015. The Company ended 2016 with a working capital surplus of $2.8 million compared to $1.6 million at December 31, 2015. The Company raised $1.7 million in equity capital during 2016, and has raised $5.5 million since inception. The Company has $1.2 million in cash as of March 31, 2017.
About GrowGeneration Corp.:
GrowGeneration Corp. ("GrowGen") owns and operates specialty retail hydroponic and organic gardening stores. Currently, GrowGen has 12 stores, which includes 10 locations in Colorado, 1 location in California and 1 location in Nevada. GrowGen carries and sells thousands of products, including organic nutrients and soils, advanced lighting technology and state of the art hydroponic equipment to be used indoors and outdoors by commercial and home growers. Our mission is to own and operate GrowGeneration branded stores in all of the major legalized cannabis states. Management estimates that roughly 1,000 hydroponic stores are in operation in the U.S. According to New Frontier Data, the U.S. cannabis market was $5.7 billion in 2015 and is expected to have reached $7.2 billion at the end of 2016. By 2020 the market is estimated to reach over $23 billion with a compound annual growth rate of 32%.
https://www.otcmarkets.com/stock/GRWG/news/GrowGeneration-Achieves-Record-2016-Sales--Up-130-?id=154923&b=y
http://www.growgeneration.com
https://www.otcmarkets.com/stock/GRWG/profile
USNU U.S. NeuroSurgical Holdings, Inc...2016 Earnings
#microcap #healthcare
Management's Discussion and Analysis of Financial Condition and Results of Operations.
Results of operations
2016 Compared to 2015
Patient revenue in 2016 was $3,212,000 as compared to $2,971,000 in 2015. This increase in patient revenue was largely due to an increase in the number of patients being seen in 2016, and an additional $150,000 of revenue attributable to the $30,000 per month fixed fee from August 2016 onwards, following the installation of the new ICON unit.
Patient expenses in 2016 were $1,290,000 as compared to $1,195,000 in 2015. Patient expenses do not vary materially with the number of procedures performed, but are tied to depreciation, maintenance and other fixed expenses. The increase experienced in 2016 over 2015 was due to the additional depreciation of the new ICON installation and the fact that the maintenance agreement did not begin until April of 2015. SG&A increased 6% from $1,232,000 in 2015 to $1,308,000 in 2016. This increase in SG&A resulted from higher insurance costs, automobile expenses, and professional fees incurred in 2016. There was interest expense of $161,000 in 2016 down from $181,000 in 2015. The Company reported net income of $536,000 as compared to $396,000 in the prior year. This increase in income was due largely to the increased revenue received from patients treated at the NYU Center, and earnings from the Company’s unconsolidated entities. As a result, the Company incurred an income tax charge of $342,000 in 2016 as compared to a deferred income tax charge of $252,000 in 2015.
Liquidity and capital resources
At December 31, 2016 the Company had working capital of $1,419,000 as compared to $549,000 at December 31, 2015. This increase was due mostly to higher year end cash balances in turn due to higher revenues in 2016. Total assets increased by $858,000 from 2015 to 2016 principally as a result of the higher year end cash balance, the addition of the new ICON equipment and an increase in accounts receivable at the end of the period. Cash and cash equivalents at December 31, 2016 were $1,962,000 as compared to $1,068,000 at December 31, 2015.
Net cash provided by operating activities was $1,361,000 in 2016 as compared to $1,158,000 in 2015. Net cash used in financing activities was $1,000,000 in 2016 as compared to $803,000 in 2015. Depreciation and amortization was $1,006,000 in 2016 as compared to $935,000 in 2015.
For the year ended December 31, 2016, net cash provided by investing activities was $533,000 as compared to net cash used in investing activities of $340,000 in 2015. The 2016 amount included distributions received from investments in unconsolidated entities.
17
Table of Contents
Off-balance sheet arrangements
None
Critical accounting policies
Estimates and assumptions
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Revenue Recognition
The Company’s agreement with NYU is an operating lease, and patient revenue from the use of the gamma knife is lease income. Following an amendment to the Company’s lease agreement with NYU, effective August 2016, the Company receives a $30,000 minimum lease payment per month from NYU. With the exception of these fixed payments, the NYU agreement provides for contingent rental income based on a tiered fee schedule related to the number of patient procedures and associated thresholds. The Company recognizes the contingent rental income and the fixed monthly payments, on a systematic basis using an average fee per procedure calculated by estimating the expected number of procedures per contract year, which runs from November 1, to the following October 31. Any amounts received in excess of the average fee are considered deferred revenue. At the end of each reporting period, the Company reviews its estimated revenue for the contract year and adjusts revenue for any material changes in the estimate. At the end of the contract year, the revenue is adjusted to the actual amount received.
As of March 27, 2017, there were outstanding 7,792,185 shares of the issuer’s Common Stock. $.01 par value.
https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11969244#FORM10K_HTM_MANAGEMENTSDISCUSSIONANDA
https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11969244#FORM10K_HTM_MANAGEMENTSDISCUSSIONANDA
$USNU U.S. NeuroSurgical Holdings, Inc...2016 Earnings
#microcap #healthcare
Management's Discussion and Analysis of Financial Condition and Results of Operations.
Results of operations
2016 Compared to 2015
Patient revenue in 2016 was $3,212,000 as compared to $2,971,000 in 2015. This increase in patient revenue was largely due to an increase in the number of patients being seen in 2016, and an additional $150,000 of revenue attributable to the $30,000 per month fixed fee from August 2016 onwards, following the installation of the new ICON unit.
Patient expenses in 2016 were $1,290,000 as compared to $1,195,000 in 2015. Patient expenses do not vary materially with the number of procedures performed, but are tied to depreciation, maintenance and other fixed expenses. The increase experienced in 2016 over 2015 was due to the additional depreciation of the new ICON installation and the fact that the maintenance agreement did not begin until April of 2015. SG&A increased 6% from $1,232,000 in 2015 to $1,308,000 in 2016. This increase in SG&A resulted from higher insurance costs, automobile expenses, and professional fees incurred in 2016. There was interest expense of $161,000 in 2016 down from $181,000 in 2015. The Company reported net income of $536,000 as compared to $396,000 in the prior year. This increase in income was due largely to the increased revenue received from patients treated at the NYU Center, and earnings from the Company’s unconsolidated entities. As a result, the Company incurred an income tax charge of $342,000 in 2016 as compared to a deferred income tax charge of $252,000 in 2015.
Liquidity and capital resources
At December 31, 2016 the Company had working capital of $1,419,000 as compared to $549,000 at December 31, 2015. This increase was due mostly to higher year end cash balances in turn due to higher revenues in 2016. Total assets increased by $858,000 from 2015 to 2016 principally as a result of the higher year end cash balance, the addition of the new ICON equipment and an increase in accounts receivable at the end of the period. Cash and cash equivalents at December 31, 2016 were $1,962,000 as compared to $1,068,000 at December 31, 2015.
Net cash provided by operating activities was $1,361,000 in 2016 as compared to $1,158,000 in 2015. Net cash used in financing activities was $1,000,000 in 2016 as compared to $803,000 in 2015. Depreciation and amortization was $1,006,000 in 2016 as compared to $935,000 in 2015.
For the year ended December 31, 2016, net cash provided by investing activities was $533,000 as compared to net cash used in investing activities of $340,000 in 2015. The 2016 amount included distributions received from investments in unconsolidated entities.
17
Table of Contents
Off-balance sheet arrangements
None
Critical accounting policies
Estimates and assumptions
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Revenue Recognition
The Company’s agreement with NYU is an operating lease, and patient revenue from the use of the gamma knife is lease income. Following an amendment to the Company’s lease agreement with NYU, effective August 2016, the Company receives a $30,000 minimum lease payment per month from NYU. With the exception of these fixed payments, the NYU agreement provides for contingent rental income based on a tiered fee schedule related to the number of patient procedures and associated thresholds. The Company recognizes the contingent rental income and the fixed monthly payments, on a systematic basis using an average fee per procedure calculated by estimating the expected number of procedures per contract year, which runs from November 1, to the following October 31. Any amounts received in excess of the average fee are considered deferred revenue. At the end of each reporting period, the Company reviews its estimated revenue for the contract year and adjusts revenue for any material changes in the estimate. At the end of the contract year, the revenue is adjusted to the actual amount received.
As of March 27, 2017, there were outstanding 7,792,185 shares of the issuer’s Common Stock. $.01 par value.
https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11969244#FORM10K_HTM_MANAGEMENTSDISCUSSIONANDA
https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11969244#FORM10K_HTM_MANAGEMENTSDISCUSSIONANDA
Any thoughts about all the shares soaked up at .0010
$LUVU 0.0435 rare to find one like this...
Authorized Shares 175,000,000 a/o Mar 29, 2017
Outstanding Shares 73,452,596 a/o Mar 29, 2017
Float 26,720,000 a/o Dec 01, 2016
https://www.otcmarkets.com/stock/LUVU/profile
http://www.luvubrands.com/internet-and-retail-distribution/
https://twitter.com/AvanaComfort
https://twitter.com/jaxxbeanbags
https://twitter.com/Liberator
$LUVU 0.0435 rare to find one like this...
Authorized Shares 175,000,000 a/o Mar 29, 2017
Outstanding Shares 73,452,596 a/o Mar 29, 2017
Float 26,720,000 a/o Dec 01, 2016
https://www.otcmarkets.com/stock/LUVU/profile
http://www.luvubrands.com/internet-and-retail-distribution/
https://twitter.com/AvanaComfort
https://twitter.com/jaxxbeanbags
https://twitter.com/Liberator
IVFH 0.47..Record Fourth Quarter and Full Year 2016 Financial Results.
24.5m shares outstanding
Full Year Ended December 31, 2016 Financial Results:
Revenue increased 15% to $35 million compared to $30.6 million for the full year 2015
Net Income was $2.8 million compared to a loss of $373,000 for the full year 2015
GAAP Basic EPS was $0.11 compared to a loss of $0.016 per share for the full year 2015
GAAP Fully Diluted EPS was $0.10 compared to a loss of $0.016 per share for the full year 2015
Cash EBITDA (see table) increased over 55% to $4.76 million compared to $3 million for the full year 2015
Adjusted Net Income (see table) increased 58% to $4.45 million compared to $2.8 million for the full year 2015
Adjusted fully diluted EPS (see table) increased 59% to $0.14 compared to $0.09 for the full year 2015
Fourth Quarter 2016 Financial Results:
Revenue increased 16% to $9.7 million compared to $8.4 million for the fourth quarter of 2015
Net Income was $993,000 compared to a loss of $59,000 for the fourth quarter of 2015
Adjusted Net Income increased over 90% to $1.5 million compared to $803,000 for the fourth quarter of 2015
Adjusted Fully Diluted EPS increased over 90% to $0.048 compared to $0.025 for the fourth quarter of 2015
Cash EBITDA increased over 80% to $1.6 million compared to $881,000 for the fourth quarter of 2015
https://www.otcmarkets.com/stock/IVFH/news/Innovative-Food-Holdings-Reports-Record-Fourth-Quarter-and-Full-Year-2016-Financial-Results?id=154738&b=y
2017 Plans
During 2017, in addition to our efforts to increase sales in our existing foodservice operations we plan to attempt to expand our business by expanding our focus to additional specialty foods markets in both the consumer and foodservice sector, exploring potential acquisition and partnership opportunities and continuing to extend our focus in the specialty food market through the growth of the Company’s existing sales channels and through a variety of additional sales channel relationships which are currently being explored. In addition, we are currently exploring the introduction of a variety of new product categories and new product lines, including private label products and proprietary branded products to leverage our existing foodservice and consumer customer base.
No assurances can be given that any of these plans will come to fruition or that if implemented that they will necessarily yield positive results.
https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11965058#INNOVATIVEFOOD10K123116_HTM_ITEM8_FINANCIALSTATEMENTS
IVFH 0.47..Innovative Food Holdings Reports Record Fourth Quarter and Full Year 2016 Financial Results
PR
Revenue up 15% to a Record $35 Million; Full Year 2016 GAAP Fully Diluted Earnings of Ten Cents per Share
https://www.otcmarkets.com/stock/IVFH/news/Innovative-Food-Holdings-Reports-Record-Fourth-Quarter-and-Full-Year-2016-Financial-Results?id=154738&b=y
10K
2017 Plans
During 2017, in addition to our efforts to increase sales in our existing foodservice operations we plan to attempt to expand our business by expanding our focus to additional specialty foods markets in both the consumer and foodservice sector, exploring potential acquisition and partnership opportunities and continuing to extend our focus in the specialty food market through the growth of the Company’s existing sales channels and through a variety of additional sales channel relationships which are currently being explored. In addition, we are currently exploring the introduction of a variety of new product categories and new product lines, including private label products and proprietary branded products to leverage our existing foodservice and consumer customer base.
No assurances can be given that any of these plans will come to fruition or that if implemented that they will necessarily yield positive results.
above from pg.22
https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11965058#INNOVATIVEFOOD10K123116_HTM_ITEM8_FINANCIALSTATEMENTS
IVFH..0.47 Innovative Food Holdings Reports Record Fourth Quarter and Full Year 2016 Financial Results
Mar 30, 2017 16:15:00 (ET)
Innovative Food Holdings Reports Record Fourth Quarter and Full Year 2016 Financial Results
Revenue up 15% to a Record $35 Million; Full Year 2016 GAAP Fully Diluted Earnings of Ten Cents per Share
BONITA SPRINGS, FL--(Marketwired - Mar 30, 2017) - Innovative Food Holdings, Inc. (OTCQB: IVFH), an industry leading specialty food platform, announced results today for the fourth quarter and full year ended December 31, 2016. The Company will hold a conference call today March 30, 2017 at 5:00 p.m. ET to discuss the results.
Full Year Ended December 31, 2016 Financial Results:
-- Revenue increased 15% to $35 million compared to $30.6 million for the
full year 2015
-- Net Income was $2.8 million compared to a loss of $373,000 for the full
year 2015
-- GAAP Basic EPS was $0.11 compared to a loss of $0.016 per share for the
full year 2015
-- GAAP Fully Diluted EPS was $0.10 compared to a loss of $0.016 per share
for the full year 2015
-- Cash EBITDA (see table) increased over 55% to $4.76 million compared to
$3 million for the full year 2015
-- Adjusted Net Income (see table) increased 58% to $4.45 million compared
to $2.8 million for the full year 2015
-- Adjusted fully diluted EPS (see table) increased 59% to $0.14 compared to
$0.09 for the full year 2015
Fourth Quarter 2016 Financial Results:
-- Revenue increased 16% to $9.7 million compared to $8.4 million for the
fourth quarter of 2015
-- Net Income was $993,000 compared to a loss of $59,000 for the fourth
quarter of 2015
-- Adjusted Net Income increased over 90% to $1.5 million compared to
$803,000 for the fourth quarter of 2015
-- Adjusted Fully Diluted EPS increased over 90% to $0.048 compared to
$0.025 for the fourth quarter of 2015
-- Cash EBITDA increased over 80% to $1.6 million compared to $881,000 for
the fourth quarter of 2015
Sam Klepfish, CEO of IVFH, commented, "With record revenue and record profits, including record GAAP Fully Diluted EPS of 10 cents per share, our 2016 financial results are reflective of the strength and execution of our specialty food business model. Going forward, we believe that the specialty food market continues to remain poised for continued growth, as consumer demand shifts towards higher quality specialty food products resulting in potentially significant overall market opportunities across multiple markets, including specialty foodservice. We believe Innovative Food Holdings is uniquely positioned for 2017 and beyond, and we look forward to executing on multiple specialty food market opportunities and to delivering significant value to our shareholders."
Conference call information:
Date: Thursday, March 30, 2017
Time: 5:00 p.m. Eastern Time
Toll-free dial-in number: 1-877-718-5108
International dial-in number: 1-719-325-4779
Conference ID: 9810112
Innovative Food Holdings Reports Record Fourth Quarter and Full Year 2016 Financial Results
Mar 30, 2017 16:15:00 (ET)
Innovative Food Holdings Reports Record Fourth Quarter and Full Year 2016 Financial Results
Revenue up 15% to a Record $35 Million; Full Year 2016 GAAP Fully Diluted Earnings of Ten Cents per Share
BONITA SPRINGS, FL--(Marketwired - Mar 30, 2017) - Innovative Food Holdings, Inc. (OTCQB: IVFH), an industry leading specialty food platform, announced results today for the fourth quarter and full year ended December 31, 2016. The Company will hold a conference call today March 30, 2017 at 5:00 p.m. ET to discuss the results.
Full Year Ended December 31, 2016 Financial Results:
-- Revenue increased 15% to $35 million compared to $30.6 million for the
full year 2015
-- Net Income was $2.8 million compared to a loss of $373,000 for the full
year 2015
-- GAAP Basic EPS was $0.11 compared to a loss of $0.016 per share for the
full year 2015
-- GAAP Fully Diluted EPS was $0.10 compared to a loss of $0.016 per share
for the full year 2015
-- Cash EBITDA (see table) increased over 55% to $4.76 million compared to
$3 million for the full year 2015
-- Adjusted Net Income (see table) increased 58% to $4.45 million compared
to $2.8 million for the full year 2015
-- Adjusted fully diluted EPS (see table) increased 59% to $0.14 compared to
$0.09 for the full year 2015
Fourth Quarter 2016 Financial Results:
-- Revenue increased 16% to $9.7 million compared to $8.4 million for the
fourth quarter of 2015
-- Net Income was $993,000 compared to a loss of $59,000 for the fourth
quarter of 2015
-- Adjusted Net Income increased over 90% to $1.5 million compared to
$803,000 for the fourth quarter of 2015
-- Adjusted Fully Diluted EPS increased over 90% to $0.048 compared to
$0.025 for the fourth quarter of 2015
-- Cash EBITDA increased over 80% to $1.6 million compared to $881,000 for
the fourth quarter of 2015
Sam Klepfish, CEO of IVFH, commented, "With record revenue and record profits, including record GAAP Fully Diluted EPS of 10 cents per share, our 2016 financial results are reflective of the strength and execution of our specialty food business model. Going forward, we believe that the specialty food market continues to remain poised for continued growth, as consumer demand shifts towards higher quality specialty food products resulting in potentially significant overall market opportunities across multiple markets, including specialty foodservice. We believe Innovative Food Holdings is uniquely positioned for 2017 and beyond, and we look forward to executing on multiple specialty food market opportunities and to delivering significant value to our shareholders."
Conference call information:
Date: Thursday, March 30, 2017
Time: 5:00 p.m. Eastern Time
Toll-free dial-in number: 1-877-718-5108
International dial-in number: 1-719-325-4779
Conference ID: 9810112
$CPLP @3.58 mounting a little bit of a comeback. Was able to avg. down over the past month.
10k #earnings watch $IVFH $STCC $USNU #microcap
Started buying $FLR yesterday $51 #infrastructure
took more @.0010 :) $COHO
took a few more $COHO @.001 with support @.0009
$MTRX Matrix PDM Engineering Awarded Significant Scope on 200 Million Cubic Foot Per Day Cryogenic Gas Recovery Plant in Grady Coun...
http://ih.advfn.com/p.php?pid=nmona&article=74199631&symbol=MTRX
Vopak Americas Awards Matrix Service EPC of Brownfield Expansion Project at Deer Park, Texas Terminal
https://finance.yahoo.com/news/vopak-americas-awards-matrix-epc-200500217.html
https://finance.yahoo.com/quote/MTRX/profile?p=MTRX
https://seekingalpha.com/symbol/MTRX/key-data
$LUVU still a sleeper...http://www.luvubrands.com/internet-and-retail-distribution/
$OTTV ready to hold the .0020 next
This lookin good now L2 a blast $OTTV
Thank you for posting the article.
$STCC has a new look with on line sales....
Sterling Consolidated Corp.
http://www.sterlingseal.com
Feb 2017, CEO interview
https://upticknewswire.com/sterling-consolidated-chairman-angelo-derosa-reports-new-deals-with-top-vehicle-manufacturers/
More info
https://www.otcmarkets.com/stock/STCC/profile
http://www.sterlingconsolidated.com
http://www.rgsales-inc.com/about.html
$STCC has a new look with on line sales....
Sterling Consolidated Corp.
http://www.sterlingseal.com
Feb 2017, CEO interview
https://upticknewswire.com/sterling-consolidated-chairman-angelo-derosa-reports-new-deals-with-top-vehicle-manufacturers/
More info
https://www.otcmarkets.com/stock/STCC/profile
http://www.sterlingconsolidated.com
http://www.rgsales-inc.com/about.html
VNDM on Bid and Ask is he daytrading
$COHO this could be a beginning of a run.
Outstanding Shares
594,542,500
a/o Mar 08, 2017
http://www.otcmarkets.com/stock/COHO/profile
Website: http://www.credholdingcorp.com
Phone: 818-465-1295
Email: info@credholdingcorp.com
Business Description
Crednology Holding Corp, a Delaware corporation, is a public holding company that has been dedicated to enhancing shareholder value through a strategic combination of organic growth, mergers and profitable acquisitions. The Company is engaged in the cloud computing segment of the technology sector as well as the Electronic Waste and Recycling business. 4Service is a business continuity solutions provider that specializes in cloud computing and disaster recovery services. 4Service offer a 3-Tier approach to our disaster recovery strategy and our Private Managed Cloud Computing offering is comprised of only the best-in-class Industry leading equipment. Utilizing the newest desktop and server virtualization technologies, our Cloud Computing solution allows any organization, regardless of size, to gain a world-class infrastructure and dramatically cut its IT costs across the board. ITatOnce is a Managed Services Provider specializing in High-End Technical and Professional Services with a focus on Infrastructure Virtualization. ITatOnce offers a full array of IT Solutions and has a proven track record in deploying, implementing, and managing on-premise and cloud virtualised environments. California Recycles, Inc. is a state certified E-Waste organization founded in 2003. The company primarily operates by entering into long term agreements of collection programs and events with Corporate Entities, Educational Institutions, State and Local municipalities
$COHO .0014 this could be a beginning of a run. Bids building on L2
@.0011 .0012 Thinned out on the ask.
Outstanding Shares
594,542,500
a/o Mar 08, 2017
http://www.otcmarkets.com/stock/COHO/profile
Website: http://www.credholdingcorp.com
Phone: 818-465-1295
Email: info@credholdingcorp.com
Business Description
Crednology Holding Corp, a Delaware corporation, is a public holding company that has been dedicated to enhancing shareholder value through a strategic combination of organic growth, mergers and profitable acquisitions. The Company is engaged in the cloud computing segment of the technology sector as well as the Electronic Waste and Recycling business. 4Service is a business continuity solutions provider that specializes in cloud computing and disaster recovery services. 4Service offer a 3-Tier approach to our disaster recovery strategy and our Private Managed Cloud Computing offering is comprised of only the best-in-class Industry leading equipment. Utilizing the newest desktop and server virtualization technologies, our Cloud Computing solution allows any organization, regardless of size, to gain a world-class infrastructure and dramatically cut its IT costs across the board. ITatOnce is a Managed Services Provider specializing in High-End Technical and Professional Services with a focus on Infrastructure Virtualization. ITatOnce offers a full array of IT Solutions and has a proven track record in deploying, implementing, and managing on-premise and cloud virtualised environments. California Recycles, Inc. is a state certified E-Waste organization founded in 2003. The company primarily operates by entering into long term agreements of collection programs and events with Corporate Entities, Educational Institutions, State and Local municipalities
Looking better now $COHO
$KCG $VIRT Trading firm Virtu Financial Inc. has made a bid to acquire rival KCG Holdings Inc., which could help shore up businesses that have been struggling with dampened market volatility.
Virtu has proposed a price of more than $18 a share, people familiar with the matter said, or at least $1.2 billion based on a recent share count. That would represent a premium of about 30% over KCG's share price Wednesday afternoon.
KCG was evaluating the offer with the help of advisers, the people said. But it is far from clear whether it would support further discussions with Virtu and it is possible there will be no deal.
A deal between Virtu and KCG would combine two major players at a challenging time for securities-trading firms, which have been seeking to maintain revenue growth amid low market volatility.
The New York-based firms make markets in stocks, bonds and other instruments, meaning they buy and sell in large volumes to facilitate trading, and earn a small amount on each transaction. While market indexes have been soaring, low volatility in prices makes it harder for these firms to turn a profit on individual trades.
Don't forget Feb had 28 days so I think they have til Friday 17th
for Q1 period ending Jan 31, but could come at anytime.
They've started using twitter lately....
https://twitter.com/codaoctopusltd
looks set for the .0020 attack, thin $OTTV
Been sitting here with 15,13s seems like forever $COHO
$OTTV in at 12, hope the SS holds. Lots of competition in this market but all Viva Entertainment needs is a small amount of market share to move this. Bring on some News.