Our Conure at 26 mos., "whats up", okay, thank you! :)
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FieldPoint Petroleum Corporation Announces Acquisition of Vacuum South Field, Lea County, New Mexico
On Thursday May 28, 2009, 1:45 pm EDT
Buzz up! Print Related:Fieldpoint Petroleum Corp.
AUSTIN, Texas--(BUSINESS WIRE)--FieldPoint Petroleum Corporation (AMEX:FPP - News) today announced the acquisition of a working interest in the South Vacuum Field in Lea County, New Mexico. The acquisition price is $1,000,630 for working interest of 25%-50% in four natural gas wells effective June 1, 2009. Based upon engineering reports and certain standard assumptions we paid approximately $1.54 per mcfe for these gas reserves. We estimate that this property will replace approximately 152% of our 2009 anticipated (BOE) barrels of oil equivalent oil and gas production.
Related Quotes
Symbol Price Change
FPP 2.22 0.00
“This acquisition gives FieldPoint additional production in the New Mexico deep natural gas play, and it meets all of our acquisition criteria,” states Ray Reaves, President and CEO for FieldPoint. “We expect this purchase to show an excellent rate of return, based on existing production, and we believe that this field offers development potential that could further serve to increase our production, earnings, and cash flow from operations,” commented Reaves.
As has been its past practice with acquired property, FieldPoint plans for an active redevelopment program. FieldPoint also plans for additional operations designed to increase production and current reserves, including but not limited to facilities improvements, production equipment upgrades, and wellbore optimization activities. No time frame has yet been established for this activity.
Anyone wanting to make sure Berman gets at least $90,000 for his hard earned salary lay your money down. He and others will be glad to take it, no questions asked or answered. His goal is $1,000,000.00 to be paid to his truly, exemptions: 6. Federal Exemption(s) and Exclusion(s) Claimed (select all that apply) x
Rule 504(b)(1) (not (i), (ii) or (iii))
Amended Small Company Offering and Sale of Securities Without Registration (D/A)
Date : 05/19/2009 @ 4:30PM
Source : Edgar (US Regulatory)
Stock : Russell Industries (RIND)
Quote : 0.0027 0.0 (0.00%) @ 9:17AM
- Amended Small Company Offering and Sale of Securities Without Registration (D/A)
UNITED STATES SECURITIES
AND EXCHANGE COMMISSION
Washington, D.C.
FORM D
OMB APPROVAL
OMB Number: 3235-0076 Expires: September 30, 2008 Estimated Average burden hours per response: 4.0
Notice of Exempt Offering of Securities
1. Issuer's Identity
CIK (Filer ID Number)
Previous Name(s)
x
None
Entity Type
0001071220 x
Corporation
o
Limited Partnership
o
Limited Liability Company
o
General Partnership
o
Business Trust
o
Other
Name of Issuer
RUSSELL INDUSTRIES INC
Jurisdiction of Incorporation/Organization
NV
Year of Incorporation/Organization
x
Over Five Years Ago
o
Within Last Five Years (Specify Year)
o
Yet to Be Formed
2. Principal Place of Business and Contact Information
Name of Issuer
RUSSELL INDUSTRIES INC
Street Address 1
Street Address 2
9595 SIX PINES DRIVE
SUITE 8210
City
State/Province/Country
ZIP/Postal Code
Phone No. of Issuer
THE WOODLANDS
TX
77380
832-661-6074
3. Related Persons
Last Name
First Name
Middle Name
BERMAN RICHARD MARK
Street Address 1
Street Address 2
9595 SIX PINES DRIVE SUITE 8210
City
State/Province/Country
ZIP/Postal Code
THE WOODLANDS TX 77380
Relationship:
x
Executive Officer
x
Director
o
Promoter
Clarification of Response (if Necessary)
--------------------------------------------------------------------------------
4. Industry Group
o
Agriculture
Health Care
o
Retailing
Banking & Financial Services
o
Biotechnology
o
Restaurants
o
Commercial Banking
o
Health Insurance
Technology
o
Insurance
o
Hospitals & Physicians
o
Computers
o
Investing
o
Pharmaceuticals
o
Telecommunications
o
Investment Banking
o
Other Health Care
o
Other Technology
o
Pooled Investment Fund
Travel
o
Other Banking and Financial Services
o
Manufacturing
o
Airlines & Airports
Real Estate
o
Lodging & Conventions
o
Commercial
o
Tourism & Travel Services
o
Construction
o
Other Travel
o
REITS & Finance
o
Other
o
Residential
o
Other Real Estate
o
Business Services
Energy
o
Coal Mining
o
Electric Utilities
o
Energy Conservation
o
Environmental Services
o
Oil & Gas
x
Other Energy
5. Issuer Size
Revenue Range
Aggregate Net Asset Value Range
o
No Revenues
o
No Aggregate Net Asset Value
x
$1 - $1,000,000
o
$1 - $5,000,000
o
$1,000,001 - $5,000,000
o
$5,000,001 - $25,000,000
o
$5,000,001 - $25,000,000
o
$25,000,001 - $50,000,000
o
$25,000,001 - $100,000,000
o
$50,000,001 - $100,000,000
o
Over $100,000,000
o
Over $100,000,000
o
Decline to Disclose
o
Decline to Disclose
o
Not Applicable
o
Not Applicable
6. Federal Exemption(s) and Exclusion(s) Claimed (select all that apply)
x
Rule 504(b)(1) (not (i), (ii) or (iii))
o
Rule 505
o
Rule 504 (b)(1)(i)
o
Rule 506
o
Rule 504 (b)(1)(ii)
o
Securities Act Section 4(6)
o
Rule 504 (b)(1)(iii)
o
Investment Company Act Section 3(c)
7. Type of Filing
o
New Notice
Date of First Sale
2008-10-09 o
First Sale Yet to Occur
x
Amendment
8. Duration of Offering
Does the Issuer intend this offering to last more than one year?
o
Yes
x
No
9. Type(s) of Securities Offered (select all that apply)
o
Pooled Investment Fund Interests
x
Equity
o
Tenant-in-Common Securities
o
Debt
o
Mineral Property Securities
o
Option, Warrant or Other Right to Acquire Another Security
o
Security to be Acquired Upon Exercise of Option, Warrant or Other Right to Acquire Security
o
Other (describe)
10. Business Combination Transaction
Is this offering being made in connection with a business combination transaction, such as a merger, acquisition or exchange offer?
o
Yes
x
No
Clarification of Response (if Necessary)
11. Minimum Investment
Minimum investment accepted from any outside investor
$
5000
USD
12. Sales Compensation
Recipient
Recipient CRD Number
x
None
WORLD TRADE FINANCIAL
(Associated) Broker or Dealer
o
None
(Associated) Broker or Dealer CRD Number
x
None
N/A
Street Address 1
Street Address 2
2010 HANCOCK STREET
SECOND FLOOR
City
State/Province/Country
ZIP/Postal Code
SAN DIEGO
CA
92110
State(s) of Solicitation
o
All States
TX
--------------------------------------------------------------------------------
13. Offering and Sales Amounts
Total Offering Amount
$ 1000000
USD
o
Indefinite
Total Amount Sold
$194,350 USD
Total Remaining to be Sold
$805,650 USD
o
Indefinite
Clarification of Response (if Necessary)
14. Investors
o
Select if securities in the offering have been or may be sold to persons who do not qualify as accredited investors,
Number of such non-accredited investors who already have invested in the offering
Regardless of whether securities in the offering have been or may be sold to persons who do not qualify as accredited investors, enter the total number of investors who already have invested in the offering:
5
15. Sales Commissions & Finders' Fees Expenses
Provide separately the amounts of sales commissions and finders' fees expenses, if any. If the amount of an expenditure is not known, provide an estimate and check the box next to the amount.
Sales Commissions
$
0
USD
o
Estimate
Finders' Fees
$5,602 USD
x
Estimate
Clarification of Response (if Necessary)
16. Use of Proceeds
Provide the amount of the gross proceeds of the offering that has been or is proposed to be used for payments to any of the persons required to be named as executive officers, directors or promoters in response to Item 3 above. If the amount is unknown, provide an estimate and check the box next to the amount.
$90,000
USD
x
Estimate
Clarification of Response (if Necessary)
Signature and Submission
Please verify the information you have entered and review the Terms of Submission below before signing and clicking SUBMIT below to file this notice.
Terms of Submission
In submitting this notice, each Issuer named above is:
Notifying the SEC and/or each State in which this notice is filed of the offering of securities described and undertaking to furnish them, upon written request, the information furnished to offerees.
Irrevocably appointing each of the Secretary of the SEC and, the Securities Administrator or other legally designated officer of the State in which the Issuer maintains its principal place of business and any State in which this notice is filed, as its agents for service of process, and agreeing that these persons may accept service on its behalf, of any notice, process or pleading, and further agreeing that such service may be made by registered or certified mail, in any Federal or state action, administrative proceeding, or arbitration brought against it in any place subject to the jurisdiction of the United States, if the action, proceeding or arbitration (a) arises out of any activity in connection with the offering of securities that is the subject of this notice, and (b) is founded, directly or indirectly, upon the provisions of: (i) the Securities Act of 1933, the Securities Exchange Act of 1934, the Trust Indenture Act of 1939, the Investment Company Act of 1940, or the Investment Advisers Act of 1940, or any rule or regulation under any of these statutes, or (ii) the laws of the State in which the issuer maintains its principal place of business or any State in which this notice is filed.
Certifying that the Issuer is not disqualified from relying on any Regulation D exemption it has identified in Item 6 above for one of the reasons stated in Rule 505(b)(2)(iii).
Each Issuer identified above has read this notice, knows the contents to be true, and has duly caused this notice to be signed on its behalf by the undersigned duly authorized person.
For signature, type in the signer's name or other letters or characters adopted or authorized as the signer's signature.
o
I also am a duly authorized representative of the other Issuer(s) in Item 1 above and authorized to sign on their behalf.
Issuer
Signature
Name of Signer
Title
Date
RUSSELL INDUSTRIES INC
/s/Richard M Berman
Richard M Berman
President & CEO
2009-05-19
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Cascal N.V. Subsidiary, Bournemouth & West Hampshire Water, Receives Important Recognitions from UK Government and Industry Regu
Date : 04/16/2009 @ 8:30AM
Source : PR Newswire
Stock : Cascal Nv (HOO)
Quote : 3.57 0.06 (1.71%) @ 8:00PM
Cascal N.V. Subsidiary, Bournemouth & West Hampshire Water, Receives Important Recognitions from UK Government and Industry Regu
LONDON, April 16 /PRNewswire-FirstCall/ -- Cascal N.V. (NYSE:HOO) (the "Company"), a leading provider of water and wastewater services in seven countries, today announced that its subsidiary, Bournemouth & West Hampshire Water (BWHW), was awarded the Charter Mark for excellence in public services for the tenth successive year, and received a certificate of recognition for successfully keeping the Investor in People standard for more than a decade. In addition, BWHW was named the sixth most efficient water company out of 21 by OFWAT, the economic regulator for the water industry in England and Wales.
Stephane Richer, Cascal's Chief Executive Officer noted, "These important recognitions are a testament to Cascal's dedication to providing superior water service to its customers around the world. As our largest operation, BWHW is looked upon as a leader within the Cascal organization and sets the tone for our other water concessions. Ultimately, these awards acknowledge Cascal and the individuals within the organization that strive to ensure the delivery of high-quality services to our customers."
BWHW provides water to approximately 420,000 people through a system of eight major treatment works and a network of 1,700 miles of pipe.
About Cascal N.V.
Cascal provides water and wastewater services to its customers in seven countries: the United Kingdom, China, South Africa, Chile, Indonesia, Panama and The Philippines. Cascal's customers are predominantly homes and businesses representing a total population of approximately 4.3 million.
Cascal N.V. Announces Publication of Bournemouth & West Hampshire Water OFWAT Business Plan
Date : 04/07/2009 @ 8:30AM
Source : PR Newswire
Stock : Cascal Nv (HOO)
Quote : 3.57 0.06 (1.71%) @ 8:00PM
Cascal N.V. Announces Publication of Bournemouth & West Hampshire Water OFWAT Business Plan
LONDON, April 7 /PRNewswire-FirstCall/ -- Cascal N.V. (NYSE:HOO) (the "Company"), a leading provider of water and wastewater services in seven countries, today announced the publication of the Final Business Plan for its largest subsidiary, Bournemouth & West Hampshire Water (BWHW), as required under the UK water industry five-year rate review that becomes effective in April 2010. The business plan was submitted to OFWAT, the economic regulator for the water industry in England and Wales, and a summary is available for review at http://www.bwhwater.co.uk/.
BWHW's Final Business Plan includes a total capital investment program of 53 million pounds Sterling over the five years and rate adjustments above inflation of 9.9% in 2010, 5.9% in 2011, 2.3% in 2012, 2.2% in 2013 and 2.1% in 2014.
The Final Business Plan is a further milestone in OFWAT's process used to determine future water rates and builds upon the 25-year Strategic Direction Statement, published in December 2007, and the Draft Business Plan published in August 2008. OFWAT will review the Final Business Plan and publish its interim rate determination in July 2009 and, following consultation with stakeholders, will set out its final rate determination in November 2009.
BWHW provides water to approximately 180,000 households and 15,000 businesses through a system of eight major treatment works and a network of 1,700 miles of pipe.
About Cascal N.V.
Cascal provides water and wastewater services to its customers in seven countries: the United Kingdom, China, South Africa, Chile, Indonesia, Panama and The Philippines. Cascal's customers are predominantly homes and businesses representing a total population of approximately 4.3 million.
Cal Dive Reports First Quarter 2009 Results
Date : 05/05/2009 @ 5:21PM
Source : Business Wire
Stock : Cal Dive International, Inc. (DVR)
Quote : 10.09 0.47 (4.89%) @ 8:00PM
Cal Dive Reports First Quarter 2009 Results
Cal Dive International, Inc. (NYSE:DVR) reported first quarter 2009 net income of $12.3 million, or $.12 per diluted share compared to $0.6 million and $.01 per diluted share for the same period of 2008. The increase in net income is primarily due to increased vessel utilization as a result of increased diving activity in international markets and repair and salvage work as a result of hurricanes Gustav and Ike that struck the Gulf of Mexico in the late summer of 2008.
Quinn Hébert, President and Chief Executive Officer of Cal Dive, stated, “We are off to a good start this year because of excellent performance and execution by our men and women offshore, who took advantage of good weather windows for ongoing salvage and repair projects as well as new construction. We also took advantage of the expected weather disruptions by completing over half of our annual dry dock and vessel maintenance days during the first quarter. Our backlog grew to over $400 million including two international projects in Mexico and China.”
Financial Highlights
Backlog: Contracted backlog was $402 million as of March 31, 2009 compared to a backlog of $350 million at December 31, 2008 and $450 million as of April 30, 2008.
Revenues: First quarter 2009 revenues increased by $62.5 million to $207.1 million as compared to the first quarter of 2008, primarily due to increased vessel utilization as a result of increased international diving activity and demand for hurricane related work.
Gross Profit: First quarter 2009 gross profit increased by $14.1 million to $38.8 million as compared to the first quarter of 2008. The increase was due to the reasons cited above.
SG&A: First quarter 2009 SG&A as a percentage of revenue was 8.6% for the first quarter of 2009 compared to 11.9% for first quarter of 2008. The percentage decrease was primarily due to the increase in revenues discussed above.
Net Interest Expense: First quarter 2009 net interest expense decreased by $3.1 million over the first quarter of 2008, due to lower variable interest rates associated with outstanding borrowings.
Income Tax Expense: The effective tax rate for the first quarter of 2009 was 31.0% compared to 31.5% for the first quarter of 2008. The rate decrease is primarily due to an increased percentage of income being earned in foreign jurisdictions with lower effective tax rates.
Balance Sheet: Total debt was $395.0 million and cash and cash equivalents were $91.5 million for a net debt position of $303.5 million as of March 31, 2009 compared to a net debt position of $254.4 million at December 31, 2008 and $282.2 at March 31, 2008. The increase in net debt is due to the revolving loan borrowings incurred in connection with the January 2009 purchase by the Company of 13.6 million shares of its common stock from its majority stockholder, Helix Energy Solutions Group, Inc.
Further details will be provided during Cal Dive’s conference call, scheduled for 11 a.m. Central Time on May 6, 2009. The teleconference dial-in numbers are: (866) 831-6247 (domestic), (617) 213-8856 (international), passcode 82395882. Investors will be able to obtain the slide presentation and listen to the live conference call broadcast from the Investor Relations page at http://www.caldive.com. A replay will also be available from the Investor Relations-Presentations page.
Cal Dive International, Inc., headquartered in Houston, Texas, is a marine contractor that provides an integrated offshore construction solution to its customers, including manned diving, pipelay and pipe burial, platform installation and platform salvage services to the offshore oil and natural gas industry on the Gulf of Mexico OCS, Northeastern U.S., Latin America, Southeast Asia, Australia, the Middle East, India and the Mediterranean, with a fleet of 31 vessels, including 21 surface and saturation diving support vessels and 10 construction barges
Rick’s Cabaret New York City Launches the Ultimate Bachelor Party Program
Date : 05/27/2009 @ 9:00AM
Source : Business Wire
Stock : Rick’s Cabaret International, Inc. (RICK)
Quote : 6.76 -0.1 (-1.46%) @ 7:57PM
Rick’s Cabaret New York City Launches the Ultimate Bachelor Party Program
Rick’s Cabaret, recently selected as “New York City’s best strip club” by Playboy.com, is now offering soon-to-be-married guys and their pals the Ultimate Bachelor Party. The three-story nightclub and steakhouse is a unit of Rick’s Cabaret International, Inc. (NASDAQ: RICK), the premier publicly traded group of upscale gentlemen’s clubs.
“We’ve always been a great spot for bachelor’s parties but we’ve now formalized our program with a variety of packages that will fit just about any budget,” says David Rios, manager of Rick’s Cabaret. “We think it’s the best bachelor party deal in Manhattan, giving guys the full taste of our state of the art light and sound system, private roof deck and entertainment from over 100 beautiful girls daily from all over the world.”
Ultimate Bachelor Party packages range in price from $100 to $850 and include a variety of choices for VIP seating, ultra premium bottles of champagne and liquor, use of private suites and a wide range of options from the much-heralded Rick’s Steakhouse gourmet kitchen.
For more information please contact David Rios at david@ricks.com or call him at 212-372-0850.
Rick’s Cabaret International, Inc. Reports Second Quarter Revenue of $18.36 Million & Income from Continuing Operations of ...
Date : 05/12/2009 @ 4:01PM
Source : Business Wire
Stock : Rick’s Cabaret International, Inc. (RICK)
Quote : 6.76 -0.1 (-1.46%) @ 7:57PM
Rick’s Cabaret International, Inc. Reports Second Quarter Revenue of $18.36 Million & Income from Continuing Operations of ...
Rick’s Cabaret International, Inc. (NASDAQ: RICK), the premier operator of upscale gentlemen’s clubs, reported revenues of $18.36 million for its second fiscal quarter ended March 31, 2009, a 21.6 percent increase over second quarter in the previous year.
The increase in revenues was primarily due to gains generated by clubs in Philadelphia, Las Vegas and Dallas, as well as the new media division.
Income from continuing operations was $1.51 million or 16 cents per fully diluted share, compared with $2.85 million or 35 cents for the same period a year earlier. Net income for the 2009 quarter was $839,471 or nine cents per fully diluted share, a result that was impacted by non-recurring impairment of $823,090 of the net assets of the Rick’s Cabaret nightclub in Austin, for which the company currently has a contract of sale.
The company’s income from continuing operations was also impacted by pre-tax losses at certain clubs totaling $900,000, compared to losses of $1.9 million for the company’s first quarter ended December 31, 2008. The principal losses for the second quarter ended March 31, 2009 occurred at Rick’s Cabaret in Las Vegas, which lost approximately $633,000 before income taxes.
Other factors impacting the company’s income in the second quarter included:
Advertising and marketing expenses of $1.68 million versus $471,874 in the prior year, related to launching the Las Vegas club and re-branding of clubs in Dallas and Philadelphia;
Legal fees of $810,501 versus $337,991, principally due to contesting of labor lawsuits in Minnesota and New York.
An increase in interest expense to $808,831 compared with $658,673 in the prior year, attributable to new debt to finance the purchase of the new clubs and related real estate;
“We believe we made significant progress during the second quarter in pointing our Las Vegas club toward profitability when the Vegas market returns to normal,” said Eric Langan, President and CEO of Rick’s Cabaret. “We also made tremendous progress in turning around losing clubs in Philadelphia and Dallas, which are now profitable and which we expect to continue being profitability going forward. Our 10-Q statement gives details on these turnaround situations.”
“We are also pleased with our sequential improvement over the first quarter of this fiscal year. Revenues were up 7.9 percent, income from continuing operations was up 33.5 percent, total salaries and wages declined by 4.2 percent. We are hopeful we will see continued gains as the year progresses,” Mr. Langan added.
Mr. Langan will discuss results for the quarter ended March 31, 2009 in a conference call being webcast by Vcall that can be accessed at the Rick’s Cabaret website, ricks.com or http://www.investorcalendar.com/IC/CEPage.asp?ID=144825. The toll free live participant dial-in number is 877-407-8033; international callers should dial 201-689-8033. The toll free replay number is 877-660-6853 (international callers dial 201-612-7415) and the call will be available until May 19, 2009. Please enter the number 286 when asked for the account, and then conference ID number 322695.
RICK'S CABARET INTERNATIONAL, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
FOR THE THREE MONTHS FOR THE SIX MONTHS
ENDED MARCH 31, ENDED MARCH 31,
2009 2008 2009 2008
(UNAUDITED) (UNAUDITED)
Revenues:
Sales of alcoholic beverages $ 6,955,904 $ 5,503,529 $ 13,522,731 $ 9,560,502
Sales of food and merchandise 1,566,828 1,296,197 2,979,806 2,335,297
Service revenues 8,758,735 7,615,581 16,859,729 12,598,386
Internet revenues 164,631 172,712 341,394 343,501
Media revenues 285,331 - 468,967 -
Other 628,932 505,013 1,194,154 998,069
Total revenues 18,360,361 15,093,032 35,366,781 25,835,755
Operating expenses:
Cost of goods sold 2,216,457 1,543,941 4,424,126 2,823,980
Salaries and wages 3,986,476 3,127,219 8,148,162 5,575,081
Stock compensation 20,044 39,270 40,088 78,540
Other general and administrative:
Taxes and permits 2,367,248 1,900,759 4,635,912 3,078,975
Charge card fees 446,947 250,565 781,639 446,989
Rent 845,823 516,677 1,707,185 878,098
Legal and professional 810,501 337,991 1,310,750 629,639
Advertising and marketing 1,677,196 471,874 2,813,367 748,022
Insurance 265,906 161,365 503,385 350,298
Utilities 371,126 265,244 796,039 456,986
Depreciation and amortization 814,279 578,281 1,615,658 1,021,774
Other 1,295,474 1,171,567 2,677,716 2,057,443
Total operating expenses 15,117,477 10,364,753 29,454,027 18,145,825
Operating income 3,242,884 4,728,279 5,912,754 7,689,930
Other income (expense):
Interest income 1,659 26,403 7,393 69,472
Interest expense (808,831 ) (658,673 ) (1,636,302 ) (1,102,556 )
Minority interests (73,500 ) -- (147,000 ) 177,911
Income from continuing operations
before income taxes 2,362,212 4,096,009 4,136,845 6,834,757
Income taxes 856,625 1,241,962 1,503,189 1,932,398
Income from continuing operations 1,505,587 2,854,047 2,633,656 4,902,359
Loss from discontinued operations, net
of income taxes
(666,116 ) (248,667 ) (1,003,353 ) (513,707 )
Net income $ 839,471 $ 2,605,380 $ 1,630,303 $ 4,388,652
Basic earnings per share:
Income from continuing operations $ 0.16 $ 0.38 $ 0.28 $ 0.68
Loss from discontinued operations $ (0.07 ) $ (0.03 ) $ (0.11 ) $ (0.07 )
Net income $ 0.09 $ 0.34 $ 0.17 $ 0.61
Diluted earnings per share:
Income from continuing operations $ 0.16 $ 0.35 $ 0.28 $ 0.63
Loss from discontinued operations $ (0.07 ) $ (0.03 ) $ (0.11 ) $ (0.07 )
Net income $ 0.09 $ 0.32 $ 0.17 $ 0.56
Weighted average number of common
shares outstanding:
Basic 9,313,819 7,561,163 9,339,926 7,183,699
Diluted 9,487,528 8,473,497 9,543,741 8,012,745
Rick’s Cabaret International Renegotiates Terms of Final Put Options
Date : 05/12/2009 @ 9:00AM
Source : Business Wire
Stock : Rick’s Cabaret International, Inc. (RICK)
Quote : 6.76 -0.1 (-1.46%) @ 7:57PM
Rick’s Cabaret International Renegotiates Terms of Final Put Options
Rick’s Cabaret International, Inc., the premier operator of upscale gentlemen’s clubs, has renegotiated the terms of put options granted in the acquisition of a nightclub in Dallas, Texas. The new terms are the final pieces in a program under which the company has extended payment terms related to several of its recent acquisitions.
Under the renegotiated terms of a Lock-Up/Leak-Out agreement the sellers of The Executive Club will now have the right to put a maximum of 3,000 shares per month to Rick’s Cabaret for 12 months at $25 per share, rather than the original maximum of 5,000 per month.
The renegotiation of terms for the Dallas club defers $600,000 of potential put payments into future years.
8k -
Amended Statement of Changes in Beneficial Ownership (4/A)
Date : 05/08/2009 @ 5:06PM
Source : Edgar (US Regulatory)
Stock : (RICK)
Quote : 6.76 -0.1 (-1.46%) @ 7:57PM
- Amended Statement of Changes in Beneficial Ownership (4/A)
FORM 4 [ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue.
See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
OMB APPROVAL
OMB Number: 3235-0287
Expires: February 28, 2011
Estimated average burden
hours per response...
0.5
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public
Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940
1. Name and Address of Reporting Person *
Watters Robert L 2. Issuer Name and Ticker or Trading Symbol
RICKS CABARET INTERNATIONAL INC [ RICK ] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable)
__ X __ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last) (First) (Middle)
10959 CUTTEN ROAD 3. Date of Earliest Transaction (MM/DD/YYYY)
9/9/2008
(Street)
HOUSTON, TX 77066
(City) (State) (Zip) 4. If Amendment, Date Original Filed (MM/DD/YYYY)
9/10/2008 6. Individual or Joint/Group Filing (Check Applicable Line)
_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8) 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common stock (1) 9/9/2008 M 10000 A $1.40 15000 D
Table II - Derivative Securities Beneficially Owned ( e.g.
, puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4) 8. Price of Derivative Security
(Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock options $1.40 9/9/2008 M 10000 9/10/2004 9/10/2008 Common stock 10000 (2) 40000 D
Explanation of Responses:
(
1)
Exercise of stock options.
(
2)
Issued as Director compensation.
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Watters Robert L
10959 CUTTEN ROAD
HOUSTON, TX 77066 X
Signatures
Robert L. Watters 5/7/2009
** Signature of Reporting Person Date
Rick's Cabaret International, Inc. Says April Nightclub Sales Roared to New Record High of $7.37 Million, Driven by Las Vegas...
Date : 05/06/2009 @ 9:00AM
Source : Business Wire
Stock : Rick’s Cabaret International, Inc. (RICK)
Quote : 6.76 -0.1 (-1.46%) @ 7:57PM
Rick's Cabaret International, Inc. Says April Nightclub Sales Roared to New Record High of $7.37 Million, Driven by Las Vegas...
Rick's Cabaret International, Inc., premier operator of upscale gentlemen's clubs, said today its sales in April climbed to a record $7.37 million, a 44.6 percent gain over April 2008 revenues.
“Our newest acquisition in Las Vegas is becoming a powerful contributor with sales of $1.86 million in April, as our aggressive marketing approach has made us one of the top adult entertainment destinations in Vegas,” said Eric Langan, President and CEO of Rick’s Cabaret.
The strong sales results were also fueled by Rick’s Cabaret New York City, which continued its record-setting gains; Tootsie’s Cabaret in Miami, which was ahead of its 2008 numbers; and by strong performances from two newly re-branded locations, Club Onyx in Philadelphia and XTC Cabaret in Dallas.
Same store sales were down 4.8 percent from April 2008, to $4.67 million, but the results were an improvement over the 7.6 percent drop during the most recent quarter ended March 31st.
“Current trends are making us optimistic that we will continue to see stronger overall results moving forward if the economy continues to strengthen, including an increase in same store sales in future months,” said Mr. Langan. He noted that increased marketing costs in April will continue to keep margins tight for the period.
Rick’s Cabaret International, Inc. Extends Long Term Debt Obligations and Renegotiates Put Options
Date : 04/30/2009 @ 9:00AM
Source : Business Wire
Stock : Rick’s Cabaret International, Inc. (RICK)
Quote : 6.76 -0.1 (-1.46%) @ 7:57PM
Rick’s Cabaret International, Inc. Extends Long Term Debt Obligations and Renegotiates Put Options
Rick’s Cabaret International, Inc. (NASDAQ: RICK), the nation’s premier operator of upscale gentlemen’s clubs, said today it has renegotiated terms of certain of its long term debt and a significant portion of outstanding put options used in the financing of some recent acquisitions.
“Under the new terms we have extended payback periods, reduced the number of shares that can be put back to us and reduced cash outlays for the next 12 months,” according to Eric Langan, President and CEO of Rick’s Cabaret. “This gives our company more flexibility, enables us to retain more of our cash flow and will permit us to resume our acquisition program without issuing more equity at our currently low share price.”
As part of the restructuring, Rick’s Cabaret renegotiated the terms of Lock-Up/Leak-Out agreements with sellers of certain clubs it has purchased in recent years. Under these agreements the sellers have the right to have Rick’s Cabaret purchase a certain number of its shares of common stock issued as payment for the acquisitions. “By extending the time frame of the put options and converting some of the puts to debt, cash outlays that may be due have been deferred to future years,” Mr. Langan said.
Under the original Lock-Up/Leak-Out agreements, the potential existed that 233,438 shares could be put to the company in the 12 months starting June 1, 2009 at a potential cost of $5.2 million. Under the renegotiated plan the number of shares the company could be required to buy in this period has been reduced to 181,242 at a potential cost of $4 million. Mr. Langan also noted that each one dollar increase in the company’s stock price reduces the potential cash outlay by almost $600,000 over the term of the puts.
The company also extended by two years, until November 30, 2012, the payment of $10 million in promissory notes to the previous owners of Tootsie’s Cabaret in Miami Gardens, FL. The balloon payment originally was due November 30, 2010.
In addition, Rick’s Cabaret renegotiated the terms of its purchase agreements with ED Publications and the related Teeze Publications. The new agreement provides for the execution of a $200,000 promissory note payable over two years in lieu of the issuance of 8,696 shares. The company simultaneously purchased 6,522 shares that had been issued in connection with the Teeze transaction by means of a $150,000 promissory note payable over two years.
The share buyback of common stock was announced in Jan of this year. The actual share count for its common stock is 14,865,370
REDUCING DEBT During the second quarter of fiscal 2009, we retired $3.3 million of our 8% convertible senior subordinated notes at a discount of 29%, resulting in a net gain of $849,000. The retirement of the notes was financed through cash generated from operating activities.
SHARE REPURCHASE PROGRAM On January 6, 2009, the Company’s Board of Directors approved a share repurchase program authorizing the Company to purchase up to $12.6 million of its outstanding common stock. Stock repurchases under this program may be made on the open market or in privately negotiated transactions, depending on factors including market conditions and other factors. The stock repurchase program does not have an expiration date and may be suspended or discontinued at any time.
“We believe an investment in our stock at this time represents an excellent opportunity for us to return value to our shareholders,” said Mr. Richardson.
OUTLOOK “The second quarter financial results reflect continued progress in many key areas of our business. While the current economic crisis limits our visibility to future sales, we remain committed to improving gross margin and reducing costs throughout the company” added Mr. Richardson.
CASH DIVIDEND The Company today also announced that its Board of Directors voted to declare a $0.02 cash dividend per share to all holders of common stock and a $0.018 cash dividend per share to all holders of Class B common stock. The dividend will be payable on February 20, 2009, to all common stockholders of record on February 11, 2009. The Company currently has 14,865,370 outstanding shares of common stock and 3,048,258 outstanding shares of Class B common stock.
As of April 6, 2009, there were outstanding 14,865,370 shares of Common Stock, $0.05 par value and 3,048,258 shares of Class B Common Stock, $0.05 par value, which are convertible into Common Stock of the registrant on a share for share basis.
Richardson Electronics Awarded "Distributor of the Year" by Microsemi Corporation
On Tuesday April 28, 2009, 10:07 am EDT
Buzz up! Print Related:Richardson Electronics Ltd.
LAFOX, Ill.--(BUSINESS WIRE)--Richardson Electronics, Ltd. (NASDAQ:RELL - News), today announces that it has been named “Distributor of the Year” by Microsemi Corporation’s Power Products Group. This distinction, presented annually by the Microsemi Sales and Marketing teams, goes to the distributor who has consistently shown exemplary design, sales and logistics support to Microsemi’s global customer base.
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RELL 3.94 +0.11
In presenting the award to Richardson Electronics, Microsemi’s Director of Global Sales, Scott Lindberg, stated: “Richardson’s success with Microsemi over the years is attributed to consistently doing the right things, the right way, with the right timing. Microsemi congratulates Richardson and all of its employees on receiving the Microsemi Distributor of the Year award.”
“This award is special in that it is voted by the Microsemi sales and product groups located throughout the world. We are proud to accept this award, on behalf of our employees, and we thank our friends at Microsemi for honoring us in this way. We look forward to continuing our high levels of service and support to Microsemi, and to our mutual customers throughout the globe,” says Greg Peloquin, Executive Vice President and General Manager for Richardson’s RF, Wireless & Power Division.
About Microsemi Corporation
Microsemi Corporation, with corporate headquarters in Irvine, California, is a leading designer, manufacturer and marketer of high performance analog and mixed-signal integrated circuits and high reliability semiconductors. The company's semiconductors manage and control or regulate power, protect against transient voltage spikes and transmit, receive and amplify signals. Microsemi's products include individual components as well as integrated circuit solutions that enhance customer designs by improving performance and reliability, battery optimization, reducing size or protecting circuits. The principal markets the company serves include implanted medical, defense/aerospace and satellite, notebook computers, monitors and LCD TVs, automotive and mobile connectivity applications. More information may be obtained by contacting the company directly or by visiting its website at http://www.microsemi.com.
About the RF, Wireless & Power Division (RFPD) of Richardson Electronics, Ltd.
RFPD, a division of Richardson Electronics, LTD. (NASDAQ:RELL - News), is a global provider of engineered solutions and a global distributor of electronic components to the RF and wireless communications market and the industrial power conversion market. RFPD designs, manufactures and distributes discrete devices, components, and assemblies used in RF and wireless infrastructure communications networks, digital broadcasting, defense, and power conversion. More information is available online at www.rell.com.
Contact:
Richardson Electronics, Ltd.
Greg Peloquin, Executive Vice President
and General Manager, RFPD
Phone: 630-208-2631
Email: gregp@rell.com
Richardson Electronics Reports Third Quarter Fiscal 2009 Results and Declares Cash Dividend
On Wednesday April 8, 2009, 6:05 pm EDT
http://finance.yahoo.com/news/Richardson-Electronics-bw-14886420.html?.v=1
Buzz up! Print Related:Richardson Electronics Ltd.
LAFOX, Ill.--(BUSINESS WIRE)--Richardson Electronics, Ltd. (NASDAQ:RELL - News) today reported net sales for the third quarter ended February 28, 2009, of $110.3 million, a 20.6% decrease from net sales of $138.9 million for the third quarter of fiscal 2008. The net loss for the third quarter of fiscal 2009 was $11.4 million, compared to a net loss of $2.2 million in the prior year. The net loss of $11.4 million for the third quarter of fiscal 2009 includes $9.7 million of significant charges primarily due to the write-off of $5.8 million of software development costs as a result of the decision that it would be too costly and disruptive to proceed with the related system implementation. Excluding the $9.7 million of significant charges, net loss would have been $1.7 million. A complete reconciliation of these items is provided within this press release under the heading “Certain Non-GAAP Financial Information.”
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RELL 3.94 +0.11
Gross margin was $23.7 million, or 21.5%, during the third quarter of fiscal 2009, which includes $2.0 million of expense for increased inventory reserves related to exiting certain markets and product lines, low-margin customers, and the analog to digital broadcast conversion. The gross margin percentage during the third quarter reflects the fact that sales within the Company’s higher-margin businesses, specifically the Electron Device Group and Canvys, declined at a faster rate than sales for the RF, Wireless and Power Division.
Selling, general, and administrative (“SG&A”) costs during the third quarter of fiscal 2009 were $27.7 million, or 25.1% of net sales. The SG&A costs for the third quarter of fiscal 2009 include $1.2 million of severance expense and $0.7 million of expense related to the write-off of a long-term note receivable. Excluding these items, SG&A for the third quarter would have been $25.8 million.
“Given our sales decline, we aggressively reduced our operating cost structure. We accelerated staffing reductions, acted upon underperforming business lines and customers, and reduced discretionary spending. We believe these actions, the majority of which are permanent, should lead to significantly improved financial performance,” said Edward J. Richardson, Chairman, Chief Executive Officer and President of Richardson Electronics, Ltd.
FINANCIAL SUMMARY ─ THREE MONTHS ENDED FEBRUARY 28, 2009
Net sales for the third quarter of fiscal 2009 were $110.3 million, down 20.6%, compared to net sales of $138.9 million during the third quarter of last year.
Gross margin as a percent of net sales decreased to 21.5% during the third quarter of fiscal 2009, compared to 22.5% during the third quarter of last year. The gross margin percent of 21.5% includes $2.0 million of additional inventory reserves recorded during the third quarter.
SG&A expenses decreased to $27.7 million during the third quarter of fiscal 2009, including $1.2 million of severance expense and $0.7 million of expense related to the write-off of a note receivable, compared to $32.0 million during the third quarter of last year.
Operating loss during the third quarter of fiscal 2009 was $9.7 million, compared to an operating loss of $0.7 million during the third quarter of last year.
Net loss during the third quarter of fiscal 2009 was $11.4 million versus a net loss of $2.2 million during the third quarter of last year.
FINANCIAL SUMMARY ─ NINE MONTHS ENDED FEBRUARY 28, 2009
Net sales for the first nine months of fiscal 2009 were $381.8 million, down 7.6%, compared to net sales of $413.3 million during the first nine months of last year.
Gross margin as a percent of net sales decreased slightly to 23.5% during the first nine months of fiscal 2009, compared to 23.6% during the first nine months of last year.
SG&A decreased to $84.1 million during the first nine months of fiscal 2009, compared to $93.3 million during the first nine months of last year.
Operating loss during the first nine months of fiscal 2009 was $0.3 million, compared to operating income of $4.4 million during the first nine months of last year.
Net loss during the first nine months of fiscal 2009 was $1.8 million, compared to a net loss of $3.2 million during the first nine months of last year.
FOCUS ON WORKING CAPITAL MANAGEMENT AND CASH FLOWS
Cash flows used in operating activities were $2.0 million during the third quarter of fiscal 2009, compared to cash flows used in operating activities of $0.4 million during the third quarter of last year.
“Despite the challenges of the current global economy and market conditions, we have maintained a strong cash position. Improvements in working capital, combined with stronger financial performance will allow us to return positive operating cash flow during the fourth quarter,” said Kathleen S. Dvorak, Executive Vice President and Chief Financial Officer.
During the third quarter, the Company did not repurchase any shares of its common stock under the share repurchase program. The share repurchase program was approved by the Company’s Board of Directors in January 2009. The share repurchase program does not have an expiration date and may be cancelled at any time.
OUTLOOK
“Despite the weakening economy, our focus for the fourth quarter and for fiscal 2010 will continue to be on capturing new sales opportunities while keeping tight controls on expenses. We believe that our lower cost structure positions us to significantly improve profitability as the industry and overall economic conditions improve,” concluded Mr. Richardson.
May 14, 2009 7:00 pm US/Central
2 SEC Employees Eyed For Alleged Insider Trading By CBS News investigative producer Laura Strickler and chief investigative correspondent Armen Keteyian
NEW YORK (CBS News) ―
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CBS News has learned that two attorneys at the Securities and Exchange Commission (SEC) are under "active" criminal investigation by the FBI for trading stocks based on inside information.
Accusations against the two lawyers - a man and a woman whose names have not been released - are detailed in a report by the SEC inspector general obtained exclusively by CBS News.
The report, based on a review and analysis of "more than two years of e-mail and brokerage records," puts increased pressure on a commission that has come under fire lately for failing to detect the $60 billion Bernard L. Madoff Ponzi scheme, and turning a blind eye to the Wall Street financial crisis.
"We ought to be outraged if there is one insider trading information that's leading to personal profit," Sen. Charles Grassley, R-Iowa, the ranking member of the Senate Finance Committee, told CBS News.
In response to the IG report, Grassley sent a letter to SEC Chairman Mary Schapiro expressing that outrage and requesting detailed information about the stock holdings and trading practices of all SEC employees.
"It's hard to imagine a more serious violation of the public trust than for the agency responsible for protecting investors to allow its employees to profit from non-public information about its enforcement activities," Grassley said in his letter to Schapiro.
According to the report, the male attorney under investigation by the FBI works in the Office of the SEC's Chief Counsel and "has access to a tremendous amount of nonpublic information."
The report alleges both the male attorney and female attorney - who works in the enforcement division - "traded in the stock of a large financial services company" despite being told by another SEC employee of ongoing "investigations of that company." The report calls this is a direct violation of SEC rules.
In another possible violation, the male attorney was found to have sent e-mails from his SEC account to his brother and sister-in-law "recommending particular stocks." The attorney's stock portfolio was estimated at one point to be valued at $200,000.
As for the female attorney, the report states that "two months before an investigation of a large health care company was opened" she "sold all of her shares of stock in the company." And "two days before an inquiry was opened" by a colleague who "occupies the office next to her" the female attorney sold stock in an oil company. Investigators say the female attorney traded stocks 247 times between January 2006 and January 2008. At one point her stock portfolio was valued as high as $170,000.
In addition, the report says that the female attorney "spent much of her work day e-mailing and searching the Internet about stocks." It quotes her telling investigators: "It's my main hobby. It's my passion." And: "It's my way of keeping intellectually above what other people are doing."
While the woman told investigators she did not check the SEC database - known as EDGAR - for information related to her personal stock trades, the inspector general said computer records reveal that she did, in fact, check the database on at least four separate occasions. SEC employees are prohibited from accessing EDGAR for personal trading purposes.
Said Grassley, "Isn't it odd that you've got people in the prosecuting department that are trying to profit from information that they get from it. Their job is to be prosecuting and not profiteering."
According to employee interviews with investigators and SEC e-mails, the two colleagues shared many of the same stocks, frequently discussed their trades via e-mail, and regularly talked about SEC investigations and their own stock trading during weekly lunches.
In one instance, a third SEC employee told investigators the two attorneys under investigation encouraged her to buy stock in a company - despite knowledge of multiple ongoing investigations into that company, a violation of SEC rules.
Inspector General David Kotz, who uncovered the possible insider trading, declined a formal request for an interview, citing the ongoing investigation. But when we caught up with him near his office Kotz told CBS News, "The report talks about our concerns that there is no true compliance system at the SEC."
Both attorneys - who deny any wrongdoing - still work at the SEC and make six-figure salaries. The investigation was triggered after the high volume of trades by the female attorney set off alarms inside the agency.
As it now stands, there's no telling how many other employees are not reporting their trades because the SEC has no compliance system in place to monitor the trades of their employees. In fact, the two attorneys under investigation say that no one at the SEC had ever before questioned their reported securities holdings or transactions in the decades they have worked at the commission.
mmmmm?????? Nor Madoffs either
In an e-mailed statement to CBS News, the SEC said, "We take seriously even the suggestion that any SEC employee would engage in insider trading. We note that the IG's report neither accuses any SEC employee of insider trading nor concludes that any such conduct took place."
The statement went on to say, "Even so, we have been taking additional steps to enhance our protections against the potential for improper conduct. Those include developing a new computer system to facilitate reporting and review of securities trading by all SEC personnel; hiring a chief compliance officer; and providing greater clarity of our rule governing the reporting of trades."
(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)
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Bravo!!...........what if there is a war and no one comes?. Remember Kent State in Ohio?............Remember those who stood in front of the tanks in China?, a strange correlation. Remember the Congressman who were asked if they would have their children old enough to serve, and risk being place in the war they backed in Iraq on false pretenses a decade later by Roger Moore?...........Their response, they literally ran from the question.........Remember those who selected to spend 8 years of taking down their President to gain power, and control instead of doing the jobs they were elected to do, protecting our country from foreign invaders should have always been top priority, and with all the might, and with all the stealth, and nuclear submerisables, and technology, and with all the agencies employeed for this purpose we were as open as the Mexican Border, and our Ports...........
They are at it again!........little by little the terrorist are watching as we become bathed in all the rhetoric of Congress, and Wall Street who has shown their true colors following 911, dishonor, and digrace and greed was at its heart, even at the cost of America by imploding the market and this economy, and the worlds, it was going on for decades growing out of control from every downturn, and every kind scam that engulfed the market every few years, they have illustrated why the Trade Towers were attacked with the intent of being taken down, why they hate this form or system of capitalism devised by the rich and powerful, who leads our people down these very paths and the Towers were symbolic of what our country represents, and this wasn't the first time at the attempt, and little to nothing changed their mindset, maybe nothing ever will?.
Just give a look at what it did for England. Look at the Upper House, and the House of commons, and the Queen, and the ones that don't get cinged only its common people. Prince Charles on a world vacation tour so he can view the greenhouse effects in his Lear elitess jet fit for a King. Polluting every where he goes, information he could have downloaded from his computer.
Yep!........its like having the right to list anything and go public with it, and who is to know what?. This being one of the exceptions, someone was following all this, maybe from a tip, or a number of complaints filed?..........when world markets and economies such as ours can be taken down to its knee's due in large part of the activity that was and is occurring in the OTC market and ignored by the SEC till it was way to late regardless of the thousands or tens of thousands of complaints, not only is it time, and long past for a new chair person, but enforcement like the Untouchables who couldn't be bought and sold. To many people within that agency, as well as the Congress are to connected to Wall Street and with what they institute and allow, and persist that the ball always be in their court, so they can serve and protect big money. Its an outdated organization that needs reformation who for the most part has systematically protected the money that controls them and the rest of the market while working against middle come/individual investors. Madoff is the Poster Boy who for 13 years didn't even make a stock trade, and even this didn't raise an eyebrow, or two.
Cox like Daschul turned Lobbyist rubbed shoulders with Lobbyist who kept them in office for years, how absurd to put such a person in a position who controls the enforcement of the market which is made up of them. Those white envelopes are still circulating, and promises of positions should they ever lose their elected seats, and can come work for them is always in the offing. The good ole boys network!
Thursday, 14 May 2009
Lightning Round: Dow Chemical, Panera Bread, Emerson Electric and More
Topics:Stock Picks | Stock Market
Companies:Badger Meter Inc | Owens Corning Inc | Zoltek Companies Inc | Dow Chemical Co | Panera Bread Company | Ingersoll-Rand Co Ltd | Emerson Electric Co
Ingersoll-Rand [IR 20.23 -0.02 (-0.1%) ]: Cramer won’t recommend buying IR higher than $17-$18, he said.
Panera Bread [PNRA 53.24 0.59 (+1.12%) ]: Cramer is bullish on Panera.
Badger Meter [BMI 40.62 1.11 (+2.81%) ]: Emerson Electric [EMR 32.09 -0.13 (-0.4%) ] is a better pick, Cramer said.
Dow Chemical [DOW 17.68 0.81 (+4.8%) ]: “I think Dow’s OK here,” Cramer said. This stock is a buy.
Zoltek [ZOLT 9.90 0.50 (+5.32%) ]: Sell ZOLT. “I don’t like that company,” Cramer said. Investors who want to be in the composite business, of which Cramer's not a fan right now, should go with Owens Corning instead.
Cramer's charitable trust owns Emerson Electric.
Call Cramer: 1-800-743-CBNC
Questions for Cramer? madmoney@cnbc.com
Zoltek Reports Second Quarter Results
On Monday May 11, 2009, 7:03 pm EDT
Buzz up! Print Related:Zoltek Companies Inc.
ST. LOUIS, May 11, 2009 (GLOBE NEWSWIRE) -- Zoltek Companies, Inc. (NasdaqGS:ZOLT - News) today reported results for the second quarter and first half of its 2009 fiscal year.
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ZOLT 9.90 +0.50
Zoltek's net sales for the second quarter of fiscal 2009, ended March 31, totaled $36.0 million, compared to $49.6 million in the second quarter of fiscal 2008, a decrease of 27%. Operating income in fiscal 2009's second quarter was $2.1 million, compared to $8.3 million in the second quarter of fiscal 2008, a decrease of 75%. Zoltek's net income for the latest quarter was $0.5 million, compared to $4.3 million in the second quarter of fiscal 2008.
For the first half of fiscal 2009, Zoltek's net sales were $74.6 million, compared to $89.7 million in the first half of fiscal 2008, a decrease of 17%. Operating income was $5.5 million for the first half of fiscal 2009, compared to $13.1 million in the first half of fiscal 2008, a decrease of 58%. Zoltek reported net income of $1.0 million for the first half of fiscal 2009, compared to net income of $6.9 million in the first half of fiscal 2008.
``After four years of strong consistent growth in revenues and profitability, we are disappointed with Zoltek's performance through the first six months of 2009,' said Zsolt Rumy, Zoltek's Chairman and Chief Executive Officer. ``It is unfortunate that the global economic downturn has affected our industry and interrupted the momentum of our revenue growth just when we took a quantum leap in increasing our ability to serve the needs of the current and potential new users of commercial carbon fibers with the addition of our Mexican facility for precursor and carbon fiber production. However, we firmly believe this situation is no more than temporary - and by no means represents a permanent change in our business prospect or our outlook.'
Based on Zoltek's marketing activities, including recent participation in two global conferences - on wind energy and advanced composites - Rumy added, ``As bad as this year has been so far, there is a strong consensus within the industry that the fundamentals for resumption of historical growth trends as soon as next year are as strong as ever - given carbon fiber's position as the key enabling material in reaching new levels of performance in wind energy, automobiles, deep-sea drilling and other application areas. In the case of wind power, which we believe offers the most imminent potential for additional growth, the uncertainty of the financial support by the U.S. government has negatively affected the industry. New wind farm activity has slowed as developers, wind turbine equipment manufacturers and their financing sources are waiting to see what government benefits can be expected. Although project cancellations are very uncommon, a number of them are on hold until the economic uncertainties are cleared up.'
Rumy noted that as a part of the global economic situation Zoltek's revenues in the first half of the year were adversely affected by the Euro's decline against the dollar and by falling energy and raw material costs that were passed along to customers as price reductions. The costs associated with the start-up of Zoltek's recently acquired Mexican facility were also a factor in causing the company's gross profit to decline to $9.1 million in the second quarter of fiscal 2009 from $14.0 million in the second quarter of fiscal 2008.
``Even in this unexpected global downturn that we are experiencing today, Zoltek continues to be profitable, reduce our long-term debt and produce positive cash flow from operations,' Rumy said. ``We have the ability to ride out the current storm as we continue to actively pursue new orders and prepare for the strong growth that we believe is sure to follow.
``We have the confidence of knowing that governments and public utilities around the world are united in wanting to make wind energy a much bigger part of the overall energy mix. Wind energy is the only renewable energy, particularly the large turbines which are using carbon fiber-reinforced blades, that economically competes with fossil fuels in generating electricity. We also have every confidence that growth in existing markets and developments in automotive field and deep sea drilling will generate huge new demands for our carbon fibers. The revolution in building materials based on carbon fibers is real and it will continue not just for years, but for decades.
Zoltek Companies, Inc. Appoints New Independent Director
On Thursday May 7, 2009, 4:15 pm EDT
Buzz up! Print Related:Zoltek Companies Inc.
ST. LOUIS, May 7, 2009 (GLOBE NEWSWIRE) -- Zoltek Companies, Inc. (NasdaqGS:ZOLT - News) today reported that at its regular quarterly meeting held May 2, 2009, the Board of Directors appointed Pedro Reynoso as a director for a term expiring at the 2010 annual meeting of shareholders. Mr. Reynoso succeeds James Betts who retired from the Board effective with Mr. Reynoso's appointment.
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ZOLT 9.90 +0.50
Mr. Reynoso, age 64, is President and CEO of Planfin, S.A. de C.V., a Mexican consulting firm he founded in 1982, and also serves as Director of Operations for the textile and packaging divisions of Cydsa, S.A. de C.V., a publicly traded Mexican company that operates in the chemical and textile markets, a position Mr. Reynoso has held since 2002. Before joining Cydsa, Mr. Reynoso served in various executive and operating positions in manufacturing and financial services businesses. He also has served on the Boards of Directors of various publicly traded and privately owned Mexican companies active in a range of industries, including mining, real estate, textiles, electronics and energy. Mr. Reynoso is a Mexican national who spent his elementary and high school years studying at St. Joseph's Academy in Brownsville, Texas, and then studied at Instituto Tecnologico y de Estudios Superiores de Monterrey in Monterrey, Mexico, where he earned a Bachelor's degree, with honors, in Public Accounting. The Company has determined that Mr. Reynoso is an independent director under Nasdaq rules.
Zsolt Rumy, Zoltek's Chairman and CEO, commented, ``We are delighted that we were able to recruit Pedro to join the Zoltek Board. With the successful acquisition and retrofit of our facility in Guadalajara, our Mexican operations will be a key element in our future growth strategy and we expect Pedro will be an invaluable asset for us in that area. We have worked with Pedro in his role on behalf of Cydsa and came to respect his professionalism and expertise.'
Mr. Rumy added, ``On behalf of all Zoltek's shareholders, I also want to recognize Jim Betts for his many contributions as a Board member since our IPO in 1982. Jim has always been there for us, and we sincerely appreciate his friendship and willingness to generously share his background and experience as a respected chemical industry executive. We wish Jim all the best in his retirement.'
ITEM 5.02 DEPARTURE OF DIRECTORS OR PRINCIPAL OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF PRINCIPAL OFFICERS.
(c) On April 23, 2009, the Registrant announced that it had appointed Andrew W. Whipple as the Registrant's Chief Financial Officer. Mr.
Whipple, age 45, has served as the Registrant's Chief Accounting Officer since May 2008. Prior to joining the Registrant, from 1998 to 2003 Mr. Whipple served as Controller and later Chief Financial Officer of Digital Teleport, Inc., a telecommunications company. After Digital Teleport was acquired by CenturyTel in 2003, Mr. Whipple became Vice President of Operational Support CenturyTel, a telecommunications company, from 2003 to 2007. In 2007, Mr.
Whipple joined E3 BioFuels, a biofuels company, where he served as its Chief Financial Officer until May 2008.
A copy of a press release issued by the Registrant on April 23, 2009 is filed as Exhibit 99.1 to this Current Report on Form 8-
It was 4 years after this occurred http://finance.senate.gov/105-302.htm ,and was occurring under the Bush Admin. I remember a number of prior and present employee's "then", were shielded behind partitions testifying with annonimity for fear of retaliation if the Congress did not step in. These hearings occurred under the Clinton Admin, its not clear what is occurring today?. If this was occurring 4 years later what really changed?.........Paulson was in charge of the agency, and now we have Geitner who we all know owed, and failed to pay his taxes, like Daschul, like Rengel who created the tax laws. It almost takes a Congressional investigation to bring their cases under the spotlight which imposes pressure on them to clean up their act. Other than this the IRS was and can be relentless with their threats and actions against the avg worker.............like everything else its a 2 tier system.
Why incoporate in Nevada?....
http://www.dot.com.ph/nevada/index.html
http://www.nevadacorporationsonline.com/index.htm
Why incoporate in Nevada?......Scammers/Pinsheets/BB's, gets no better
http://www.dot.com.ph/nevada/index.html
http://www.nevadacorporationsonline.com/index.htm
Tks for the update futr, this ones having a good run.
True. I think the estimates have ranged somewhere in the neighborhood of 8+trillion over the next several years, just where this money is gonna come from is anyones guess. The bottom line its all to bailout WallStreet, and its corruption. We cannot even phathom just how much a trillion dollars is, but if a check was cut to every man woman and child in the US it would total approx $2,900 each......If the govt wanted to stimulate the economy it would have been better spent this way as that, having spent good money for those who were made extremely rich from these frauds and bad management, or to keep the likes of Goldman Sachs protected from any losses. I don't see how the bulk of this money will ever be recovered other than the route GS has taken to sell common stock to the public. The ones who purchase shares to repay this debt of $10bn needs their heads examined. $11bn more was paid out thru AIG on Credit Default Swaps totalling $21bn. What a racket!....
In addition to this GS has a Hedgefund operating out of the Caymans, and from what I gather, and what was stated by Obama, AIG's division who was selling this CDS insurance was constructed like a Hedgefund, and being sold in the OTC market. Much of this bailout money went to cover these bets just like it did with GS to cover the Hedgefunds who bought the policies thru AIG, and the Hedgefund Industry played a major role in the demise of these companies, shorting their stocks to the point of default. The bailout money goes in their front door, then paid out thru the back door, at present I think its a total of $175bn, but their total debt is $440bn, or a half trillion. They committed fraud, the collateral was not there, they in fact accepted premium payments for insurance they couldn't cover. Combine this with their legal insurance coverages, and what could happen from plane crashes, to car accidents involving death, and the host of other things they were reponsible for, and they are now broke other than for what the bailout money is covering, and its as big a fraud that was committed as any.........There should be people facing indictments, then prison, as opposed to collecting bonuses, and partying at high-end resorts...........The govt is now as guilty as they. Any employee who was involved with the cause of all this should have been fired, and then on to court for the company, and their other divisions placed on the auction blocks, not one dime of bailout money should have gone to pay off the bets for these CDS's that were purchased, sold, traded in the back alley of the OTC market. No more than $11 million of stimulus money going to Washingtion State to build a Bridge for Msft. which connects a parkinglot to one of its main buildings.
I guess my figure wouldn't work out given it some thought and the math, nor do I know how many workers there are paying taxes who are American citizens,,,,,,,but even so, this bailout money would have served a better purpose if it would have been shelled out to the working class as opposed to writing checks for Wall Street and the likes of Goldman Sachs whose Ceo raked in $70 million last year.
http://www.taxprophet.com/hot_topic/0204.shtml
Whats up this year?
Thanks for the post and input nostocks. The temptation to make money regardless of the consequences speaks volumes here. The question now?.........will the SEC make the efforts to make those whole who lost money in these scams?. These are only a few examples of the corruption that occurs in the OTC market. No scam can be larger than the CDS's or the Bond insurance thats been sold in the Over The Counter Market. AIG, along with others who decided to sell policies without the proper collateral committed plain and simple fraud, the Ceo(s), and all those who were involved with this activity should be heavily fined and imprisoned. Insurance that is little else than a bet, and for the hedgies who owned them and shorted the company stocks that made default possible to collect is nothing less than criminal activity. Untold trillions. Derivatives worldwide may be into the hundreds of trillions, estimates range from 6 to 700 trillion.
More money than all the countries in the world combined. Its staggering figures have been estimated from 36 trillion to 95 trillion floating in the US market alone. Who can fathom how any govt with all their rules and regulations, and the enforcement agencies to include all the past Fed Chairs, the Treasury Secretaries, and all those who are in charge of controlling monetary policies could allow these kind of dealings to have ever existed?
This has put the US and countries worldwide at risk, every economy has been infected by allowing corporations, hedgefunds, and Wall Street bankers, and Wall Street in general to operate in a manner of uncontrolled tolerance, then in turn bail them out for their recklessness which is reaching into the trillions over the next several years.
The corruption in the US markets is as deep as the abyss, and unless some real and hard changes are made it will meet with an end where any recovery is impossible driving our country at least into bankruptcy. This isn't to hard to imagine when we can no longer borrow to even pay the interest on our National debt, and with no way possible to repay the borrowed principle/capital.........one day we will hit a wall and the impact worldwide will be astounding, or for a better word sickening.
The players should have eaten their lunch with the FBI serving it with hard prison sentences to be served with the rest of the population who end up behind bars, with no early releases, and no day camps so they can be seperated as if their crimes are less significant than anyone elses. Lobbyist should be looked at as no more than the middlemen who broker the deals, market makers, and brokers should have unannounced walk-ins, and each and everyone of them need to be seen as the ones who can and will break the laws, and the rules when nobody is looking, who are able to operate with impunity.
Comp pkgs that can range into the millions in the Otc market to tens and hundreds of millions for seniors is the insanity. The bar should be lower than what the President of the US "earns", with the elimination of stock options, shorting borrowed stocks, overshore impunity without registration, and taxes of any kind, like Nevada that operates as a NO TAX STATE. Elimination of S-8's, in particular for BB companies, and the elimination of Pinksheet companies from existence would curtail alot of this BS.
Just think if the Govt wanted to really do something for the American people, and who could have really turned things around in the economy, and would have saved the Govt, not only Billions, but Trillions thru issuing a million dollars for every American not a millionaire, and brought all those responsible to justice for their greed, fraud, and usuary, then changed policies, rules, regulation, and laws for all who are public and wanted to come public by first having a real private profitable successful business wanted to grow and expand to create more jobs what a difference this would make for the hard working people, while reversing fortunes for those of ill gotten gains, and making it clear that the future holds zero tolerance laws for those indicted for breaking them would send a message loud and clear. If their greed overwhelms them, there will be no seperation at country clubs from population, but must serve their time with those who robbed convenient stores, or decided to rob a bank, the crimes they committ should be viewed as Class X felonies due to the trust given them as stewards who ask for the public trust. Make it apparent, and as obivious as possible that they, nor any future public company will never again hold the American Taxpayer hostage, nor the shareholders, due to them destroying the companies who employeed them and the jobs they are indeed accountable for under their watch. We should expect no less from our elected officials, all the way down to our mayors.
On Cnbc this morning. This remains part of the problem with all these major companies, in fact this should be the rule for any company going public. Not just the rule but the law. If a company is big or small the impact can be profound when the Ceo and its Board is not seperated. Every company large and small should have to have a board. The Board should be made up of a group of people who best serve the interest of the company and its shareholders. They are suppose to be the independent watchdogs who can fire or hire, but how is this possible if the Ceo is the Board Chair?. How can any governing body be impartial if the leader is the Ceo, and who can have a direct impact on his or her compensation?. Walmart at one time had several family members on the Board, and when the public was made aware of it things were suppose to change?. For any Board to work ideally, its members should be independent, and should not own stock or be rewarded with stock. If they are receive compensation it should be based on their performance or non performance with modest limitations on how much this can be, and paid by check from the company, and this should meet the approval of the shareholders by proxy vote. If this isn't a part of the new SEC regulatory requirements, and only a part, nothing changes, its business as usual. "Read On".
The Ceo of this company raked in approx $30 million for himself in 2007. Approx 75-x's more than the president of the US. The Ceo of Cheasepeake Energy raked in $121 million for either 2007 or 2008, 300-x's more than the US president. I believe it was for 2008 when its shares were plummeting. This is all a part of this corruption. Did either solve the worlds energy problems?, did either fund and find a cure for cancer or diabetes?........Only a person who meets these criteria's should be rewarded with this kind of compensation, and stock options should not be represent a part of the equation, the products and ideas would write the check. More to the point, no person on this planet is worth this compensaton, nor ever will be.
Yahoo! Buzz Digg Newsvine Reddit FacebookWhat's this?By Adam Schreck, AP Business Writer
NEW YORK — Members of the Rockefeller family, descended from the founder of what became ExxonMobil (XOM), called on the oil giant Wednesday to split the roles of chairman and CEO and focus more on renewable sources of energy.
The family members, who describe themselves as the company's longest continuous shareholders, said they are concerned that the company is too focused on short-term gains from soaring oil prices and should do more to invest in cleaner technology for the future.
"They are fighting the last war and they're not seeing they're facing a new war," said Peter O'Neill, who heads the Rockefeller Family committee dealing with ExxonMobil and is the great-great-grandson of John D. Rockefeller.
He said he had the support of more than 80% of family members over the age of 21. Family representatives said it was a significant holding for the Rockefellers but that they were not sure how much of the company they actually own collectively.
ExxonMobil was formed by the combination of two offspring of John D. Rockefeller's Standard Oil Trust. It is now the world's largest publicly traded oil company.
FIND MORE STORIES IN: Securities and Exchange Commission | Thomson Financial | Securities | John D. Rockefeller | Rockefellers | Chief Executive Rex Tillerson | ExxonMobil Corporation | Gantt Walton | Standard Oil Trust
Members of the family say they have sponsored four proxy resolutions this year raising concerns about the company's leadership under Chairman and Chief Executive Rex Tillerson. They also say they have spent years behind the scenes prodding the company to change its approach to the oil business.
The family and its allies decided to take their case public, they said, because they believe future energy will come from sources other than oil and natural gas, and say the company needs to move more quickly into sustainable technology to secure its long-term viability.
"We all know the saying: The bigger they are, the harder they fall," said Connecticut State Treasurer Denise Nappier, who oversees a pension fund that holds $300 million in ExxonMobil stock — its largest single equity investment. She spoke at a press conference alongside the Rockefellers.
"We are trying to keep a giant — and it truly is a giant in the oil and gas industry — from falling," Nappier said.
The calls for reform came one day before ExxonMobil is scheduled to report first-quarter earnings of more than $11 billion, according to according to a survey by Thomson Financial. Thanks to soaring oil prices, that is considerably more than the company earned a year earlier, and could top ExxonMobil's own record for the biggest quarterly profit in U.S. history.
The company's board is recommending shareholders vote against a proposal to split the role of chairman and CEO. In a recent proxy statement filed with the Securities and Exchange Commission, the board said "that the most effective leadership structure for ExxonMobil Corporation at the present time is for Mr. Tillerson to serve as both Chairman and CEO."
ExxonMobil spokesman Gantt Walton said the company has met with members of the Rockefeller family on multiple occasions and "respects the rights of all shareholders to make their views known," but that it does not comment on details of meetings with shareholders.
ExxonMobil stock is up more than 63% since Tillerson became CEO on Jan. 1, 2006, compared with a gain of 11.4% for the broad S&P 500 index over the same period.
Berman turns on his printing press and issues salary shares to himself.........Remember he stating he was returning those shares of approx 1.8bn or whatever it was that dak discovered and he raising the a/s from 2bn to 4bn?..........after dak discovered this he sent out a pr that he was returning those shares to the treasury immediately so not to have an impact on the stock. These were shares he openingly admitted that he issued to himself after having sold all these and more he blamed everyone else for not buying the stock and then did his reverse split, that everyone knew he would.................in fact he continued and continued till he had sold not only those shares but more, all 10bn.............with and a/s count now of 15bn, that he would love to start selling now till then and then raise this to either 20bn and more, then clean the slate and start anew. Remember he paid himself $350k that he was suppose to use for those uranium projects???????????. A salary fitting the President of the US, and all he's ever done is sit on his ass, and con at after turn...........He's at it again!
He's a weasel Bri, a lowrent bum who has no moral values or principles, or ethics. He lies, steals, manipulates by sending out pr's that are nothing more than BS!. He uses this to support his lifestyle. He wants retailers to believe that because this scam is taking place in Texas, where he lives, he'll have a more hands on approach. Remember he didn't spend one day in Utah other than perhaps the one in the beginning when he made some rounds of meeting a few people who had some mining claims, that were worthless, and now he can stay home without this ever being questioned.
The money he's stolen from investors will never do him any good, long term. His deeds will met with the unexpecting, and deservingly so. What a way to live huh?, and to think he once worked with a church organization who preyed on the elderly, the feeble, and ill to get their homes, cars, airlooms, paintings, etc. The plot then would be to sell these items at auction, or possess them or sell to private buyers, or dealers.......this in itself tells the story behind this crooks religion that he is absent of, and the chararacter of this individual. Not just him, but his mate, and other family members who support his acitivities, all are just as guilty.
Eisenhower kept Patton out of the war for 1 year after he slapped those 2 soldiers who was believed suffering from battle fatigue..............Eisenhower allowed the media, and public attention to govern his decision processes. It was a fatal mistake, costing thousands of American lives in Normady, and elsewhere, and this may have also cost the lives of many Jews for not keeping him in the battlefront. He was already disciplined, and made his apologies to everyone with an explanation. For Patton this almost like a Court Marshall. One the best War Generals Ike had, who stayed on the battlefront. We were a world at war, and to make a decision like this based on the offense may have relieved the 2 soldiers but at what cost?.................
When its to good to be true, guess we've all been there at one time or the other. When everything is going to well, when everything is starting to look up, things could not be better!, but something tells us that something is just not right, then we get worried............and then
http://finance.yahoo.com/tech-ticker/article/249177/How-I-Became-a-Subprime-Borrower-and-Blew-Myself-Up?tickers=xlf,len,hd,low,dia,spy,nyt?sec=topStories&pos=7&asset=&ccode=
Just how big was the number?.........Oct 08 article missed reading, and didn't know just how big it was, although I'm sure the numbers were out. Aig I believe is approximated at $440bn.
http://www.washingtonpost.com/wp-dyn/content/article/2008/10/10/AR2008101003050.html
That may be but Russell "is not", and there is nothing even remotely legitimate about Berman. If this is an area your interested in here's a list http://www.oilgae.com/blog/labels/Algae-Energy-Companies.html that mentions Biocentric. Any company that claims to be legit, but chooses not to file all the proper documentation with the SEC, should be viewed with alot of skepticism. Anyone who would choose to partner with the likes of Berman would have as much in common with quick rich schemes. A liar, cheat, and fraud, doesn't change, they just move on to another scheme when they've burnt all their bridges with what they've done in the past they try to reinvent themselves for the public.
Their will always be new trends and schemer's in the market wanting to ride the next wave. The question still remains what occurred to all of Bermans proposed strategies to investors in the past, over the last several years having sold Billions of stock certs, and several rounds of reverse splits, where's the money?