In Florida overlooking the Intercoastal Waterway..
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Since this is a whole new group and those that demanded updated shares outstanding numbers as promised are out,, there is no need to because until the screaming starts the new group is believing ACGX is the best pinkie out there.. They believe and buy right into the new shares created each day and will until they tire and ACGX may be brought lower for the massive reload..
Each share bought may be reloaded daily causing a lid while buying those shares at a 20% discount to the market.. But the real reload up to 10% of the shares outstanding can and will wait until we see the lows of old again.. Wash and Rinse..
But as other groups in the past have found out too late,, what seems bashing starts making so much sense they are out.. Look at the old names and question why they are gone after making so many comments about the value of ACGX and why it's the best pinkie in pinkie land but they sold thier dream and moved on.. ACGX is really in size the equivilant to a local Card shop in a large mall with a good copying machine.. Many of them do several million a month.. Think before you buy more.. Who will you sell it to before the converters rob you of the ask.. ..
Each spike below is after time reloaded in size below $0.001.. They have the time and your money when they convert in size below $0.001 and as always find a way to do that payday spike.. In between they are happy to make thier 20% on small tics filling all the buyers until they give up and then SPLAT.. Soon the old are gone and new faces see the value of ACGX as a company but,, are unaware of the Dilution that takes place on a daily basis.. GLTA.. hank
ACGX - Alliance Creative Group Inc (OTC)
Date Open High Low Last Change Volume % Change
04/09/14 0.0034 0.0034 0.0031 0.0034 unch 8889358 unch%
04/08/14 0.0034 0.0034 0.0031 0.0034 +0.0003 8889300 +9.68%
04/07/14 0.0031 0.0035 0.0031 0.0031 unch 4610100 unch%
04/04/14 0.0031 0.0035 0.0029 0.0031 -0.0002 17461301 -6.06%
04/03/14 0.0034 0.0034 0.0030 0.0033 -0.0001 3308500 -2.94%
-- Period -- -- High -- -- Low -- -- Percent Change --
5-Day 0.0035 on 04/07/14 0.0029 on 04/04/14 unch% since 04/02/14
1-Month 0.0053 on 03/18/14 0.0026 on 03/13/14 +17.24% since 03/07/14
3-Month 0.0053 on 03/18/14 0.0012 on 01/10/14 +161.54% since 01/09/14
6-Month 0.0067 on 10/29/13 0.0007 on 10/28/13 +240.00% since 10/09/13
12-Month 0.0096 on 08/05/13 0.0007 on 10/28/13 -49.25% since 04/09/13
Year to Date 0.0053 on 03/18/14 0.0011 on 01/09/14 +100.00% since 12/31/13
For The Last Made New High Percent From Made New Low Percent From
5-Day 3 time(s) -2.86% 2 time(s) +17.24%
1-Month 4 time(s) -35.85% 4 time(s) +30.77%
3-Month 11 time(s) -35.85% 1 time(s) +183.33%
6-Month 4 time(s) -49.25% 12 time(s) +385.71%
12-Month 4 time(s) -64.58% 35 time(s) +385.71%
Year to Date 11 time(s) -35.85% 5 time(s) +209.09%
Because it gives hope to the longs and makes them go out and find new faces.. Besides it's really that much money when you have sold over 500 Million shares into the market during the past 2 years increasing shares outstanding 73 Times.. They control thru the Preferred which at the stroke of the pen they just double the conversion at will.. Just as in the past..
Real question why did they stop releasing PR's showing shares outstanding each week as promised..??
Ans. since this is a whole new group and those that demanded are out no need to because until the screaming starts the new group is believing ACGX is the best pinkie out there.. They believe and buy right into the new shares created each day and will until they tire and ACGX may be brought lower for the massive reload.. Each share bought may be reloaded daily causing a lid,, but the real reload up to 10% of the shares outstanding can and will wait until we see the lows of old again.. Wash and Rinse..
But as other groups in the past have found out too late,, what seems bashing starts making so much sense they are out.. Look at the old names and question why they are gone after making so many comments about the value of ACGX and why it's the best pinkie in pinkie land but they sold thier dream and moved on.. ACGX is really in size the equivilant to a local Card shop in a large mall with a good coping machine.. Many of them do several million a month.. Think before you buy more.. Who will you sell it to before the converters rob you of the ask.. .. hank
ACGX.. $0.0032... Those are not reloaders,, they are the Converters and the tired trying to get out before the next downward leg.. ACGX needs Volume to get above $0.0038 and no P&D will come before the Converters reload below $0.0018.. You can take that to the bank.. Just look below the lows created after each P&D in the past year..
BTW all are/should be by now be aware that the reloaers buy at a discouunt to the market so the least they can make even while churning is 20%..
The pressure is on to stay at this level because new faces are need each day to continue the buying.. It appears that most here are in full positions.. hank
ACGX - Alliance Creative Group Inc (OTC)
Date Open High Low Last Change Volume % Change
04/09/14 0.0034 0.0034 0.0031 0.0034 unch 8889358 unch%
04/08/14 0.0034 0.0034 0.0031 0.0034 +0.0003 8889300 +9.68%
04/07/14 0.0031 0.0035 0.0031 0.0031 unch 4610100 unch%
04/04/14 0.0031 0.0035 0.0029 0.0031 -0.0002 17461301 -6.06%
04/03/14 0.0034 0.0034 0.0030 0.0033 -0.0001 3308500 -2.94%
-- Period -- -- High -- -- Low -- -- Percent Change --
5-Day 0.0035 on 04/07/14 0.0029 on 04/04/14 unch% since 04/02/14
1-Month 0.0053 on 03/18/14 0.0026 on 03/13/14 +17.24% since 03/07/14
3-Month 0.0053 on 03/18/14 0.0012 on 01/10/14 +161.54% since 01/09/14
6-Month 0.0067 on 10/29/13 0.0007 on 10/28/13 +240.00% since 10/09/13
12-Month 0.0096 on 08/05/13 0.0007 on 10/28/13 -49.25% since 04/09/13
Year to Date 0.0053 on 03/18/14 0.0011 on 01/09/14 +100.00% since 12/31/13
For The Last Made New High Percent From Made New Low Percent From
5-Day 3 time(s) -2.86% 2 time(s) +17.24%
1-Month 4 time(s) -35.85% 4 time(s) +30.77%
3-Month 11 time(s) -35.85% 1 time(s) +183.33%
6-Month 4 time(s) -49.25% 12 time(s) +385.71%
12-Month 4 time(s) -64.58% 35 time(s) +385.71%
Year to Date 11 time(s) -35.85% 5 time(s) +209.09%
Please put the symbol in the first line of the post.. hank
MY BAD ,, READ IT WRONG.. DAMN LAP TOPS AND THE BED IS GETTING UNCOMFORTABLE..But go Husky's.. HANK
FPCG.. i don't see where you get your earnings from after sales of assets and using fully diluted shares.. Seems fully priced at $0.25.. hank
net revenues
net income
profit margin
stkhlders equity
stkhlders equity per share
rtn stkhlders equity
shares outstanding
shares outstanding fully diluted
earnings per shares
earnings per share fully diluted
dividends per share
Cash
total current assets
total current liabilities
shares issues and outstanding
potential shres issued and outstanding assuming conversion of all options ,, debt ect..
Total shareholders equity
total liabilities and equity
net cash flows provided by operating activities
cash flow per share
TOP 10 Funds Total Returns
As of 4/8/2014 11:22 AM EST
View All Funds
Ticker Name TTM Current Dist. Yield
KED Kayne Anderson Energy Development Company 25.58% 6.53%
GLPAX Goldman Sachs MLP Energy Infrastructure Fund 23.47% 3.82%
SMAPX Salient MLP and Energy Infrastructure Fund II 20.96% 4.19%
TORTX Tortoise MLP and Pipeline 19.63% 1.66%
MLPL UBS E-TRACS 2x Leveraged Long Alerian MLP Infrastructure
Index 19.63% 9.82%
MLPLX Oppenheimer Steelpath MLP Alpha Plus Fund 17.53% 5.18%
AMLPX Maingate MLP 17.13% 4.85%
EGLAX Eagle MLP Strategy Fund 16.68% 3.53%
MLPN Credit Suisse Cushing 30 MLP Index Note 16.23% 4.06%
MLPX Global X MLP and Energy Infrastructure ETF 14.94% 2.11%
LWGD.. Can you give a link to finanicals and shares outstanding.. hank
ERILF $0.1044.. Further explanation of the 60 million share deal.. hank
You are right on with that.. I couldn't find any thing that made any commitment or a letter of intent on that..
But unless there are more that want to buy at this level the Converters will start hitting bid to get ACGX lower so they may reload for the next P&D..
Unless volume comes in soon the low $0.002's are coming.. This will at least let the Converters reload in the high $0.001's but thats higher than reloads in the past.. It appears ACGX has again a whole new list buying here so until they run out of money the converters will wait,, but once the buying stops SPLAT..!!!hank
ACGX is in the process of acquiring MMJ business.
Actually Sorkin is the Puppet Master pulling all the strings of the gullable and uninformed.. Even those at ACGX are not allowed to speak to investors.. Try it some tine and just ask someone there how many shares are outstanding.. Ask the inhouse bookeeper or accouant..
But you are correct he is not the CEO or any thing on the books in reality.. He has no say in the legal term just as thier corporate lawyer in CA is the same that have/has been used in all of any companies that Sorkin is Involved in.. BTW look at the 10 K and see which of the following companies ACGX still owes money to and guess how they will get it.. Dilution is the game,, screwing shareholders that do not know how to do proper DD is a reality and it works as long as people believe that this is a great little company.. If it wasn't a real company would anyone disregard the facts of dilution..?? SPLAT hank
HIS STORY
June 2008 Paul Sorkin as President, CEO and Chair of the Board of Directors of IVIT. Sorkin was and is at all times hereunder also the Pres and Chairman of Image Worldwide
June 2008 IVIT_Acquired certain Assets from Image Worldwide, Inc., a Colorado corporation
Feb 2009 Elected Steven St. Louis as the new CEO. Paul Sorkin resigned as CEO but has remained involved as a consultant
Sept 2009 - IMGW.PK R/S 500:1 & merged with STL Marketing Group under ticker STLK more info here
Oct 2009 - CEO Paul Sorkin with IVIT Invicta aquires IMAGE assets from STLK (10/5/09)
Nov 2009 CEO Paul Sorkin with IVIT Invicta Acquires STLK assets (11/30/09)
Dec 2009 STL Marketing Group under ticker STLK becomes an empty shell since most assets were transfered in to IVIT. Steven St. Louis is President in the STL division of IVIT as Paul Sorkin remains to be the CEO
Nov 2010 Reverse splits IVIT 2000:1 for ACGX
2011 Steven St. Louis becomes CEO of ACGX
Really..???
* ACGX is in the process of acquiring MMJ business.
Message in reply to 'igor88' on 'Alliance Creative Group, Inc. (ACGX)' :
Thats exactly what he posted over two years ago when the earnings and sales were actually higher.. Since then the sharesoutstanding have increased by 73 Times but the cash avil. has remained static and the earnings per share from dil. have gone from $0.12 - $0.15 to Nil..
Conversion is what gives the converters a pay check and since they control thru the preferred the ability to wash and rinse will go on for ever.. Once Golden is done there are others on the 10K posted to dilute more for payment..
When you can buy below the market and make every sale a profit,, why worry about the price of the stock.. It's whats in your pocket that counts..
If there becomes a possibility of too many shares out just double the conertion rate on the preferred and change the AS as has been just done again .. Wash and Rinse.. SPLAT.. hank
----------------------------------------------------
ERLIF.. $0.1007.. The Shares sold actually not only funded the company but solidifided the relationships in China for additional business..
ERILF in addition has been able to secure banking relationships that give them the abillity to perform and inventory larger orders giving them an International footprint.. The additional shares are of no concern with the earnings that they should post this year.. Recently the 25 Million dollar order from the middle east indicates thier acceptance in a fairly open industry fragmented by many companies lacking any real working capitol,,..
The additional share sold are not in the float and/but if they become part of the float It is very possible we could see a buy out in the future because a buyer could establish a sizeable position prior to make an offer.... hank
It doesn't really matter how many times it's said,, ACGX still needs buyers,, not posts to make it move,, otherwise the Converters will SPLAT..
Where is today's as promised update on shares..?? How long is it since the last one..??
ACGX.. $0031..SPLAT.... You are loosing the bottom and soon if volume does not appear the Converters will SPLAT ACGX to $0.0018.. W/O volume the converters will sell until they find bids.. They sell stock to make money and since they can replace below what they sell it for the lower it goes the more shares they recieve arming themselves for the next P&D.. hank
ERILF.. $0.1007.. Table Pounder..
Added again today.. Story just gets better and better with each Press Release.. hank
04/07/14 12:56 PM EDT Buy 50000 ERILF Executed @ $0.1007 Details | Edit
04/07/14 12:55 PM EDT Buy 38888 ERILF Executed @ $0.1028 Details | Edit
=============================================================
Empire Industries Reports $25 million in Contract Awards in U.A.E.
PrintAlert
Empire Industries Ltd. (TSX VENTURE:EIL) today reported two contract awards with
different customers in United Arab Emirates, totaling $25 million. These two
contracts represent a significant market presence in the U.A.E., which is one of
the world's most important markets for media based attractions. One of the
contracts is for the company's new special effects indoor roller coaster. The
second contract is for one of the company's Dynamic Flying Theaters. Both
contracts will largely be executed over the next eighteen months.
"Dynamic Attractions continues to accelerate Empire's efforts to bring its
proprietary media-based attractions to market and has already established itself
as one of the innovative leaders in the provision of media based attractions
globally," said Guy Nelson, Chief Executive Officer of Empire Industries. "Since
Dynamic Attractions' inception in 2011, this business unit has booked over $60
million of contracts of our own proprietary attractions."
About Empire Industries Ltd.
Empire Industries Ltd. manufactures specialized engineered products and sells
these products domestically and in select international export markets. The
company has developed, designed and engineered products for the rapidly growing,
global, media based attractions market. The company also provides steel
fabrication & installation services, primarily to the industrial, commercial and
infrastructure market in Western Canada. The company also has two key strategic
equity partnerships; a 49% ownership of ACE Industrial Services that operates in
the oil sands industrial maintenance services market, and a 45% ownership of a
Chinese joint venture company in the steel fabrication market in Asia. Empire's
common shares are listed on the TSX Venture Exchange under the symbol EIL.
For more information about the Company, visit www.empind.com.
Reader Advisory
This news release contains forward-looking statements, within the meaning of
applicable securities legislation, concerning Empire's business and affairs. In
certain cases, forward-looking statements can be identified by the use of words
such as "plans", "expects" or "does not expect", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or variations of such words
and phrases or state that certain actions, events or results "may", "could",
"would", "might" or "will be taken", "occur" or "be achieved". These
forward-looking statements are based on current expectations, and are naturally
subject to uncertainty and changes in circumstances that may cause actual
results to differ materially. Readers are cautioned not to place undue reliance
on such forward-looking statements. Forward-looking information is provided as
of the date of this press release, and Empire assumes no obligation to update or
revise them to reflect new events or circumstances, except as may be required
under applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Empire Industries Ltd.
Guy Nelson
Chief Executive Officer
(416) 366-7977
gnelson@empind.com
Empire Industries Ltd.
Allan Francis
Vice President - Corporate Affairs and Administration
(204) 589-9301
afrancis@empind.com
www.empind.com
=============================================================
Empire Industries Ltd. (TSX VENTURE:EIL) today reported its unaudited
consolidated financial results for the third quarter ended September 30, 2013.
The unaudited consolidated financial statements and MD&A have been filed on
SEDAR and can be viewed at www.sedar.com or at www.empind.com.
For the quarter and year-to-date ended
September 30
($ millions except share price and per
share amounts) Q3 2013 Q3 2012 YTD 2013 YTD 2012
----------------------------------------------------------------------------
Financial Results
Revenue 34.1 20.1 86.3 59.1
Adjusted Gross Margin ($)(2) 5.8 2.8 14.6 8.4
Adjusted EBITDA ($)(3) 2.1 0.6 5.1 2.0
Net income from continuing operations 1.6 0.4 3.7 2.5
Net income from all operations 1.6 - 3.7 1.7
----------------------------------------------------------------------------
Financial Position (at September 30)
Total assets 39.7 35.6
Long-term debt (including current
portion) (0.2) (1.7)
Shareholders' equity 13.8 9.5
----------------------------------------------------------------------------
Basic Per Share Information
Income per share from continuing
operations 0.01 - 0.02 0.01
Income per share from all operations 0.01 - 0.02 0.01
----------------------------------------------------------------------------
Diluted Per Share Information
Income per share from continuing
operations 0.01 - 0.01 0.01
Income per share from all operations 0.01 - 0.01 0.01
----------------------------------------------------------------------------
(1) Prepared in accordance with IFRS.
(2) Adjusted Gross Profit takes into account revenues and direct and indirect
cost of sales excluding depreciation and amortization. While not an IFRS
measure, Adjusted Gross Profit is a key metric used by management to assess the
operational performance of the Group.
(3) Adjusted earnings (loss) before interest, tax, depreciation and amortization
(Adjusted EBITDA) is not defined by IFRS. The definition of Adjusted EBITDA does
not take into account the Group's share of profit of an associate investment,
gains and losses on the disposal of assets, fair value changes in foreign
currency forward contracts and non-cash components of stock based compensation.
While not IFRS measures, Adjusted EBITDA is used by management, creditors,
analysts, investors and other financial stakeholders to assess the Group's
performance and management from a financial and operational perspective.
Summary of results
-- Revenues from continuing operations increased by $27.2 million or 46% in
the first nine months of 2013 to $86.3 million.
-- EBITDA from continuing operations increased by $3.1 million or 155% in
the first nine months of 2013 to $5.1 million.
-- The Group had net income of $3.7 million for the first nine months of
2013 ($0.02 per share), versus net income of $1.7 million ($0.01 per
share) in the first nine months of 2012.
-- Shareholders' Equity was $13.8 million at September 30, 2013, an
increase of $4.3 million (45%) over the prior period.
"The financial results highlighted above and our $3 million private placement
and our outlook for the future, all combined to help us successfully negotiate
and announce a $13.5 million senior lending facility with CIBC just after the
third quarter ended," said Guy Nelson, CEO of Empire Industries. "As our
shareholders all know, it has been a difficult and challenging time to
reposition our Canadian manufacturing and fabrication into a company able to
compete in a globally competitive environment. Great strides have been made, as
this quarter demonstrates, but much more is to be done and we are looking
forward with more optimism and clarity than at any time in our history as a
public company. In addition, our income will be shielded from tax by our tax
loss carryforwards, which were valued at $21 million as of December 31, 2012."
About Empire Industries Ltd.
Empire Industries Ltd. manufactures specialized engineered products and sells
these products domestically and in select international export markets. The
company has developed, designed and engineered products for the rapidly growing,
global, media based attractions market. The company also provides steel
fabrication & installation services, primarily to the industrial, commercial and
infrastructure market in Western Canada. The company also has two key strategic
equity partnerships; a 49% ownership of ACE Industrial Services that operates in
the oil sands industrial maintenance services market, and a 45% ownership of a
Chinese joint venture company in the steel fabrication market in Asia. Empire's
common shares are listed on the TSX Venture Exchange under the symbol EIL.
For more information about the Company, visit www.empind.com.
Reader Advisory
This news release contains forward-looking statements, within the meaning of
applicable securities legislation, concerning Empire's business and affairs. In
certain cases, forward-looking statements can be identified by the use of words
such as "plans", "expects" or "does not expect", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or variations of such words
and phrases or state that certain actions, events or results "may", "could",
"would", "might" or "will be taken", "occur" or "be achieved". These forward
looking statements are based on current expectations, and are naturally subject
to uncertainty and changes in circumstances that may cause actual results to
differ materially. Readers are cautioned not to place undue reliance on such
forward-looking statements. Forward-looking information is provided as of the
date of this press release, and Empire assumes no obligation to update or revise
them to reflect new events or circumstances, except as may be required under
applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Empire Industries Ltd.
Guy Nelson
Chief Executive Officer
(416) 366-7977
gnelson@empind.com
Empire Industries Ltd.
Allan Francis
Vice President - Corporate Affairs and Administration
(204) 589-9301
afrancis@empind.com
www.empind.com
=============================================================
Empire Industries Executes New $13.5 Million Senior Debt Facility with CIBC
PrintAlert
Empire Industries Ltd. (TSX VENTURE:EIL) ("Empire" or the "Company") announced
today that it has executed a senior debt facility for a $10 million operating
line and a $3.5 million term loan with CIBC. This press release and all of the
Company's public filings can be viewed at www.sedar.com or at www.empind.com.
This new facility replaces the $6 million facility the Group has had in place
with Canadian Western Bank.
"We are very pleased to establish a new relationship with CIBC. The $10.0
million operating revolver will improve the liquidity of the Group and thus
allow for improved execution of its backlog, while the $3.5 million term loan
will enhance the Group's working capital position and provide the necessary
funding for the Group to make certain key capital investments to improve its
existing operations and enhance its capabilities moving forward" said Michael
Martin, CFO of Empire.
About Empire Industries Ltd.
Empire Industries Ltd. manufactures specialized engineered products and sells
these products domestically and in select international export markets. The
company has developed, designed and engineered products for the rapidly growing,
global, media based attractions market. The company also provides steel
fabrication & installation services, primarily to the industrial, commercial and
infrastructure market in Western Canada. The company also has two key strategic
equity partnerships; a 49% ownership of ACE Industrial Services that operates in
the oil sands industrial maintenance services market, and a 45% ownership of a
Chinese joint venture company in the steel fabrication market in Asia. Empire's
common shares are listed on the TSX Venture Exchange under the symbol EIL.
For more information about the Company, visit www.empind.com.
Reader Advisory
This news release contains forward-looking statements, within the meaning of
applicable securities legislation, concerning Empire's business and affairs. In
certain cases, forward-looking statements can be identified by the use of words
such as "plans", "expects" or "does not expect", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or variations of such words
and phrases or state that certain actions, events or results "may", "could",
"would", "might" or "will be taken", "occur" or "be achieved". These forward
looking statements are based on current expectations, and are naturally subject
to uncertainty and changes in circumstances that may cause actual results to
differ materially. Readers are cautioned not to place undue reliance on such
forward-looking statements. Forward-looking information is provided as of the
date of this press release, and Empire assumes no obligation to update or revise
them to reflect new events or circumstances, except as may be required under
applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Empire Industries Ltd.
Guy Nelson
Chief Executive Officer
(416) 366-7977
gnelson@empind.com
Empire Industries Ltd.
Allan Francis
Vice President - Corporate Affairs and Administration
(204) 589-9301
afrancis@empind.com
www.empind.com
=============================================================
Empire Industries Ltd. (TSX VENTURE:EIL) today reported its unaudited
consolidated financial results for the second quarter ended June 30, 2013. The
unaudited consolidated financial statements and MD&A have been filed on SEDAR
and can be viewed at www.sedar.com or at www.empind.com.
For the year and quarter ended June 30(1)
($ millions except share price and per Q2 Q2 YTD YTD
share amounts) 2013 2012 2013 2012
----------------------------------------------------------------------------
Financial Results
Revenue 28.4 22.1 52.2 38.9
Adjusted Gross Margin ($)(2) 4.4 3.4 8.7 5.6
Adjusted EBITDA ($)(3) 1.5 1.1 3.0 1.4
Net income from continuing operations 1.0 0.9 2.1 2.1
Net income from all operations 1.0 0.7 2.1 1.7
----------------------------------------------------------------------------
Financial Position (at June 30)
Total assets 35.0 35.6
Long-term debt (including current
portion) (1.6) (1.7)
Shareholders' equity 9.3 9.5
----------------------------------------------------------------------------
Basic Per Share Information
Income per share from continuing
operations 0.005 0.005 0.01 0.01
Income per share from all operations 0.005 0.005 0.01 0.01
----------------------------------------------------------------------------
Diluted Per Share Information
Income per share from continuing
operations 0.005 0.005 0.01 0.01
Income per share from all operations 0.005 0.005 0.01 0.01
----------------------------------------------------------------------------
(1) Prepared in accordance with IFRS.
(2) Adjusted Gross Profit takes into account revenues and direct and indirect
cost of sales excluding depreciation and amortization. While not an IFRS
measure, Adjusted Gross Profit is a key metric used by management to assess the
operational performance of the Group.
(3) Adjusted earnings (loss) before interest, tax, depreciation and amortization
(Adjusted EBITDA) is not defined by IFRS. The definition of Adjusted EBITDA does
not take into account the Group's share of profit of an associate investment,
gains and losses on the disposal of assets, fair value changes in foreign
currency forward contracts and non-cash components of stock based compensation.
While not IFRS measures, Adjusted EBITDA is used by management, creditors,
analysts, investors and other financial stakeholders to assess the Group's
performance and management from a financial and operational perspective.
Summary of results
-- Revenues from continuing operations increased by $13.2 million or 34% in
the first half of 2013 to $52.2 million.
-- EBITDA from continuing operations increased by $1.6 million or 111% in
the first half of 2013 to $3.0 million.
-- The Group had net income of $2.1 million for the first half of 2013
($0.01 per share), versus net income of $1.7 million ($0.01 per share)
in the first half of 2012.
-- Backlog has increased to $115 million at July 31, 2013 from $92.0
million at December 31, 2012.
"Our financial results continue to reflect Empire's strategic transformation,"
said Guy Nelson, CEO of Empire Industries. "Our focus on higher value added
product manufacturing has increased our gross margins. Our increased sales
volumes are driving higher utilization rates, which translate into improved
fixed cost absorption. As a result of all this, we have nearly doubled our
year-to-date EBITDA compared to the same period last year."
About Empire Industries Ltd.
Empire Industries Ltd. manufactures specialized engineered products and sells
these products domestically and in select international export markets. The
company has developed, designed and engineered products for the rapidly growing,
global, media based attractions market. The company also provides steel
fabrication & installation services, primarily to the industrial, commercial and
infrastructure market in Western Canada. The company also has two key strategic
equity partnerships; a 49% ownership of ACE Industrial Services that operates in
the oil sands industrial maintenance services market, and a 45% ownership of a
Chinese joint venture company in the steel fabrication market in Asia. Empire's
common shares are listed on the TSX Venture Exchange under the symbol EIL.
For more information about the Company, visit www.empind.com.
Reader Advisory
This news release contains forward-looking statements, within the meaning of
applicable securities legislation, concerning Empire's business and affairs. In
certain cases, forward-looking statements can be identified by the use of words
such as "plans", "expects" or "does not expect", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or variations of such words
and phrases or state that certain actions, events or results "may", "could",
"would", "might" or "will be taken", "occur" or "be achieved". These forward
looking statements are based on current expectations, and are naturally subject
to uncertainty and changes in circumstances that may cause actual results to
differ materially. Readers are cautioned not to place undue reliance on such
forward-looking statements. Forward-looking information is provided as of the
date of this press release, and Empire assumes no obligation to update or revise
them to reflect new events or circumstances, except as may be required under
applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Empire Industries Ltd.
Guy Nelson
Chief Executive Officer
(416) 366-7977
gnelson@empind.com
Empire Industries Ltd.
Allan Francis
Vice President - Corporate Affairs and Administration
(204) 589-9301
afrancis@empind.com
www.empind.com
=============================================================
Empire Industries Closes $3 Million Unit Private Placement
PrintAlert
Empire Industries Ltd. ("Empire" or the "Company") (TSX VENTURE:EIL) is pleased
to announce that today it closed a non-brokered private placement of units (the
"Private Placement") to Canada Zhoufa Agricultural Holding Company Limited
("Canada Zhoufa"), a subsidiary of Zhejiang ZF Investment Co. Ltd. ("ZZG") of
China. The Company issued 60,000,000 Units at a price of $0.05 per Unit for
gross proceeds of $3,000,000 with each Unit consisting of one common share and
one-half of one warrant. Each whole warrant will entitle the holder to purchase
one additional common share at a price of $0.05 per share on or before the date
that is one (1) year from the closing, and thereafter at an exercise price of
$0.10 per share on or before the date that is five (5) years from the closing.
Canada Zhoufa subscribed for 50,400,000 Units for gross proceeds of $2,520,000.
Insiders of the Company subscribed for 9,600,000 Units for gross proceeds of
$480,000 or approximately 16% of the private placement. All securities issued
pursuant to the Private Placement are subject to a four month hold pursuant to
applicable securities legislation.
In conjunction with the closing of the Private Placement, the Board of Directors
has appointed Jack Chang as a director of the Company. Mr. Chang is the founder
and managing partner of Canadian Resources Capital, a private investment firm
that is active in cross border businesses.
With reference to its press release dated May 15, 2013, the Company wishes to
advise that the $2.0 million Convertible Debenture Private Placement, joint
venture capitalization and the two Credit Facilities described therein will
require additional time to complete, and close at a later date. Because the
TSX-V preliminary approval of the Convertible Debenture Private Placement will
expire before the Company expects to close the Convertible Debenture, the
Company formally withdraws the existing application on file with the TSX-V. The
Company intends to re-submit the application to the TSX-V and close the
Convertible Debenture Financing as soon as practicable.
Zhejiang ZF Investment Co., Ltd. (ZZG)
Mr. Junliang Xie is the founder and Chairman of ZZG, a personal holding company
with private equity investments in over ten independently operated industrial
and service companies, predominately in China. Mr. Xie was in the first class of
the Private Equity Investment Program offered by Peking University. Mr. Xie
holds an Executive MBA degree from Zhejiang University. Mr.Xie is a director of
three private equity funds in China; Zhoushan Rongsheng Investment Co., Ltd.,
Zhoushan Marine Economy Venture Capital Co., Ltd. and Beijing Qianzhou Qingyuan
Investment Fund Management Co., Ltd. He is also the Managing Director of a
recently created, RMB yen 5 billion (USD $800 million) private equity fund
called the Zhoushan Restructuring Private Equity Fund, whose purpose is to
invest for financial returns and improve Zhoushan industries' global
competitiveness.
About Empire Industries Ltd.
Empire Industries Ltd. manufactures specialized engineered products and sells
these products domestically and in select international export markets. The
company has developed, designed and engineered products for the rapidly growing,
global, media based attractions market. The company also provides steel
fabrication & installation services, primarily to the industrial, commercial and
infrastructure market in Western Canada. The company also has two key strategic
equity partnerships; a 49% ownership of ACE Industrial Services that operates in
the oil sands industrial maintenance services market, and a 45% ownership of a
Chinese joint venture company in the steel fabrication market in Asia. Empire's
common shares are listed on the TSX Venture Exchange under the symbol EIL.
For more information about the Company, visit www.empind.com.
Reader Advisory
This news release contains forward-looking statements, within the meaning of
applicable securities legislation, concerning Empire's business and affairs. In
certain cases, forward-looking statements can be identified by the use of words
such as "plans", "expects" or "does not expect", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or variations of such words
and phrases or state that certain actions, events or results "may", "could",
"would", "might" or "will be taken", "occur" or "be achieved". These forward
looking statements are based on current expectations, and are naturally subject
to uncertainty and changes in circumstances that may cause actual results to
differ materially. Readers are cautioned not to place undue reliance on such
forward-looking statements. Forward-looking information is provided as of the
date of this press release, and Empire assumes no obligation to update or revise
them to reflect new events or circumstances, except as may be required under
applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Empire Industries Ltd.
Guy Nelson
Chief Executive Officer
(416) 366-7977
gnelson@empind.com
Empire Industries Ltd.
Allan Francis
Vice President - Corporate Affairs and Administration
(204) 589-9301
afrancis@empind.com
www.empind.com
=============================================================
Empire Industries Ltd. (TSX VENTURE:EIL) today reported its unaudited
consolidated financial results for the first quarter ended March 31, 2013. The
unaudited consolidated financial statements and MD&A have been filed on SEDAR
and can be viewed at www.sedar.com or at www.empind.com.
For the year and quarter ended March 31
Q1 Q1
($ millions except share price and per share amounts) 2013 2012
----------------------------------------------------------------------------
Financial Results
Revenue 23.8 16.8
Adjusted Gross Profit ($)(2) 4.3 2.2
Adjusted EBITDA ($)(3) 1.5 0.3
Net income from continuing operations 1.1 1.2
Net income from all operations 1.1 1.1
----------------------------------------------------------------------------
Financial Position (at March 31)
Total assets 43.3 30.8
Long-term debt 3.9 4.2
Shareholders' equity 8.3 8.8
----------------------------------------------------------------------------
Basic Per Share Information
Income per share from continuing operations 0.01 0.01
Income per share from all operations 0.01 0.01
----------------------------------------------------------------------------
Diluted Per Share Information
Income per share from continuing operations 0.01 0.01
Income per share from all operations 0.01 0.01
----------------------------------------------------------------------------
(1) Prepared in accordance with IFRS.
(2) Adjusted Gross Profit takes into account revenues and direct and
indirect cost of sales excluding depreciation and amortization. While
not an IFRS measure, Adjusted Gross Profit is a key metric used by
management to assess the operational performance of the Group.
(3) Adjusted earnings (loss) before interest, tax, depreciation and
amortization (Adjusted EBITDA) is not defined by IFRS. The definition of
Adjusted EBITDA does not take into account the Group's share of profit
of an associate investment, gains and losses on the disposal of assets,
fair value changes in foreign currency forward contracts and non-cash
components of stock based compensation. While not IFRS measures,
Adjusted EBITDA is used by management, creditors, analysts, investors
and other financial stakeholders to assess the Group's performance and
management from a financial and operational perspective.
Summary of results
-- Revenues from continuing operations increased by $7.0 million or 42% in
the first quarter of 2013 to $23.8 million.
-- EBITDA from continuing operations increased by $1.2 million in the first
quarter of 2013 to $1.5 million.
-- The Group had net income of $1.1 million for the first quarter of 2013
($0.01 per share), versus net income of $1.1 million ($0.01 per share)
in the first quarter of 2012.
-- Backlog has increased to $111 million at April 30, 2013 from $92.0
million at December 31, 2012;
"The effects of the Company's strategic transformation is now starting to show
in our financial results," said Guy Nelson, CEO of Empire Industries. "Our 42%
increase in revenue over the prior year's first quarter, is a direct result of
executing some of our substantial and growing backlog. The $1.2 million increase
in EBITDA from continuing operations arises from higher utilization rates on
increased sales volumes, as well as a 5.2% increase in gross profit margin to
18.1% from 12.9%. This higher margin flows from our strategic repositioning in
the market to higher value added product manufacturing."
About Empire Industries Ltd.
Empire Industries Ltd. manufactures specialized engineered products and sells
these products domestically and in select international export markets. The
company has developed, designed and engineered products for the rapidly growing,
global, media based attractions market. The company also provides steel
fabrication & installation services, primarily to the industrial, commercial and
infrastructure market in Western Canada. The company also has two key strategic
equity partnerships; a 49% ownership of ACE Industrial Services that operates in
the oil sands industrial maintenance services market, and a 45% ownership of a
Chinese joint venture company in the steel fabrication market in Asia. Empire's
common shares are listed on the TSX Venture Exchange under the symbol EIL.
Reader Advisory
This news release contains forward-looking statements, within the meaning of
applicable securities legislation, concerning Empire's business and affairs. In
certain cases, forward-looking statements can be identified by the use of words
such as "plans", "expects" or "does not expect", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or variations of such words
and phrases or state that certain actions, events or results "may", "could",
"would", "might" or "will be taken", "occur" or "be achieved". These forward
looking statements are based on current expectations, and are naturally subject
to uncertainty and changes in circumstances that may cause actual results to
differ materially. Readers are cautioned not to place undue reliance on such
forward-looking statements. Forward-looking information is provided as of the
date of this press release, and Empire assumes no obligation to update or revise
them to reflect new events or circumstances, except as may be required under
applicable securities laws.
FOR FURTHER INFORMATION PLEASE CONTACT:
Empire Industries Ltd.
Guy Nelson
Chief Executive Officer
(416) 366-7977
gnelson@empind.com
Empire Industries Ltd.
Allan Francis
Vice President - Corporate Affairs and Administration
(204) 589-9301
afrancis@empind.com
www.empind.com
ERILF.. $0.1007.. Table Pounder..
Added again today.. Story just gets better and better with each Press Release.. hank
04/07/14 12:56 PM EDT Buy 50000 ERILF Executed @ $0.1007 Details | Edit
04/07/14 12:55 PM EDT Buy 38888 ERILF Executed @ $0.1028 Details | Edit
=============================================================
Empire Industries Reports $25 million in Contract Awards in U.A.E.
PrintAlert
Empire Industries Ltd. (TSX VENTURE:EIL) today reported two contract awards with
different customers in United Arab Emirates, totaling $25 million. These two
contracts represent a significant market presence in the U.A.E., which is one of
the world's most important markets for media based attractions. One of the
contracts is for the company's new special effects indoor roller coaster. The
second contract is for one of the company's Dynamic Flying Theaters. Both
contracts will largely be executed over the next eighteen months.
"Dynamic Attractions continues to accelerate Empire's efforts to bring its
proprietary media-based attractions to market and has already established itself
as one of the innovative leaders in the provision of media based attractions
globally," said Guy Nelson, Chief Executive Officer of Empire Industries. "Since
Dynamic Attractions' inception in 2011, this business unit has booked over $60
million of contracts of our own proprietary attractions."
About Empire Industries Ltd.
Empire Industries Ltd. manufactures specialized engineered products and sells
these products domestically and in select international export markets. The
company has developed, designed and engineered products for the rapidly growing,
global, media based attractions market. The company also provides steel
fabrication & installation services, primarily to the industrial, commercial and
infrastructure market in Western Canada. The company also has two key strategic
equity partnerships; a 49% ownership of ACE Industrial Services that operates in
the oil sands industrial maintenance services market, and a 45% ownership of a
Chinese joint venture company in the steel fabrication market in Asia. Empire's
common shares are listed on the TSX Venture Exchange under the symbol EIL.
For more information about the Company, visit www.empind.com.
Reader Advisory
This news release contains forward-looking statements, within the meaning of
applicable securities legislation, concerning Empire's business and affairs. In
certain cases, forward-looking statements can be identified by the use of words
such as "plans", "expects" or "does not expect", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or variations of such words
and phrases or state that certain actions, events or results "may", "could",
"would", "might" or "will be taken", "occur" or "be achieved". These
forward-looking statements are based on current expectations, and are naturally
subject to uncertainty and changes in circumstances that may cause actual
results to differ materially. Readers are cautioned not to place undue reliance
on such forward-looking statements. Forward-looking information is provided as
of the date of this press release, and Empire assumes no obligation to update or
revise them to reflect new events or circumstances, except as may be required
under applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Empire Industries Ltd.
Guy Nelson
Chief Executive Officer
(416) 366-7977
gnelson@empind.com
Empire Industries Ltd.
Allan Francis
Vice President - Corporate Affairs and Administration
(204) 589-9301
afrancis@empind.com
www.empind.com
=============================================================
Empire Industries Ltd. (TSX VENTURE:EIL) today reported its unaudited
consolidated financial results for the third quarter ended September 30, 2013.
The unaudited consolidated financial statements and MD&A have been filed on
SEDAR and can be viewed at www.sedar.com or at www.empind.com.
For the quarter and year-to-date ended
September 30
($ millions except share price and per
share amounts) Q3 2013 Q3 2012 YTD 2013 YTD 2012
----------------------------------------------------------------------------
Financial Results
Revenue 34.1 20.1 86.3 59.1
Adjusted Gross Margin ($)(2) 5.8 2.8 14.6 8.4
Adjusted EBITDA ($)(3) 2.1 0.6 5.1 2.0
Net income from continuing operations 1.6 0.4 3.7 2.5
Net income from all operations 1.6 - 3.7 1.7
----------------------------------------------------------------------------
Financial Position (at September 30)
Total assets 39.7 35.6
Long-term debt (including current
portion) (0.2) (1.7)
Shareholders' equity 13.8 9.5
----------------------------------------------------------------------------
Basic Per Share Information
Income per share from continuing
operations 0.01 - 0.02 0.01
Income per share from all operations 0.01 - 0.02 0.01
----------------------------------------------------------------------------
Diluted Per Share Information
Income per share from continuing
operations 0.01 - 0.01 0.01
Income per share from all operations 0.01 - 0.01 0.01
----------------------------------------------------------------------------
(1) Prepared in accordance with IFRS.
(2) Adjusted Gross Profit takes into account revenues and direct and indirect
cost of sales excluding depreciation and amortization. While not an IFRS
measure, Adjusted Gross Profit is a key metric used by management to assess the
operational performance of the Group.
(3) Adjusted earnings (loss) before interest, tax, depreciation and amortization
(Adjusted EBITDA) is not defined by IFRS. The definition of Adjusted EBITDA does
not take into account the Group's share of profit of an associate investment,
gains and losses on the disposal of assets, fair value changes in foreign
currency forward contracts and non-cash components of stock based compensation.
While not IFRS measures, Adjusted EBITDA is used by management, creditors,
analysts, investors and other financial stakeholders to assess the Group's
performance and management from a financial and operational perspective.
Summary of results
-- Revenues from continuing operations increased by $27.2 million or 46% in
the first nine months of 2013 to $86.3 million.
-- EBITDA from continuing operations increased by $3.1 million or 155% in
the first nine months of 2013 to $5.1 million.
-- The Group had net income of $3.7 million for the first nine months of
2013 ($0.02 per share), versus net income of $1.7 million ($0.01 per
share) in the first nine months of 2012.
-- Shareholders' Equity was $13.8 million at September 30, 2013, an
increase of $4.3 million (45%) over the prior period.
"The financial results highlighted above and our $3 million private placement
and our outlook for the future, all combined to help us successfully negotiate
and announce a $13.5 million senior lending facility with CIBC just after the
third quarter ended," said Guy Nelson, CEO of Empire Industries. "As our
shareholders all know, it has been a difficult and challenging time to
reposition our Canadian manufacturing and fabrication into a company able to
compete in a globally competitive environment. Great strides have been made, as
this quarter demonstrates, but much more is to be done and we are looking
forward with more optimism and clarity than at any time in our history as a
public company. In addition, our income will be shielded from tax by our tax
loss carryforwards, which were valued at $21 million as of December 31, 2012."
About Empire Industries Ltd.
Empire Industries Ltd. manufactures specialized engineered products and sells
these products domestically and in select international export markets. The
company has developed, designed and engineered products for the rapidly growing,
global, media based attractions market. The company also provides steel
fabrication & installation services, primarily to the industrial, commercial and
infrastructure market in Western Canada. The company also has two key strategic
equity partnerships; a 49% ownership of ACE Industrial Services that operates in
the oil sands industrial maintenance services market, and a 45% ownership of a
Chinese joint venture company in the steel fabrication market in Asia. Empire's
common shares are listed on the TSX Venture Exchange under the symbol EIL.
For more information about the Company, visit www.empind.com.
Reader Advisory
This news release contains forward-looking statements, within the meaning of
applicable securities legislation, concerning Empire's business and affairs. In
certain cases, forward-looking statements can be identified by the use of words
such as "plans", "expects" or "does not expect", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or variations of such words
and phrases or state that certain actions, events or results "may", "could",
"would", "might" or "will be taken", "occur" or "be achieved". These forward
looking statements are based on current expectations, and are naturally subject
to uncertainty and changes in circumstances that may cause actual results to
differ materially. Readers are cautioned not to place undue reliance on such
forward-looking statements. Forward-looking information is provided as of the
date of this press release, and Empire assumes no obligation to update or revise
them to reflect new events or circumstances, except as may be required under
applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Empire Industries Ltd.
Guy Nelson
Chief Executive Officer
(416) 366-7977
gnelson@empind.com
Empire Industries Ltd.
Allan Francis
Vice President - Corporate Affairs and Administration
(204) 589-9301
afrancis@empind.com
www.empind.com
=============================================================
Empire Industries Executes New $13.5 Million Senior Debt Facility with CIBC
PrintAlert
Empire Industries Ltd. (TSX VENTURE:EIL) ("Empire" or the "Company") announced
today that it has executed a senior debt facility for a $10 million operating
line and a $3.5 million term loan with CIBC. This press release and all of the
Company's public filings can be viewed at www.sedar.com or at www.empind.com.
This new facility replaces the $6 million facility the Group has had in place
with Canadian Western Bank.
"We are very pleased to establish a new relationship with CIBC. The $10.0
million operating revolver will improve the liquidity of the Group and thus
allow for improved execution of its backlog, while the $3.5 million term loan
will enhance the Group's working capital position and provide the necessary
funding for the Group to make certain key capital investments to improve its
existing operations and enhance its capabilities moving forward" said Michael
Martin, CFO of Empire.
About Empire Industries Ltd.
Empire Industries Ltd. manufactures specialized engineered products and sells
these products domestically and in select international export markets. The
company has developed, designed and engineered products for the rapidly growing,
global, media based attractions market. The company also provides steel
fabrication & installation services, primarily to the industrial, commercial and
infrastructure market in Western Canada. The company also has two key strategic
equity partnerships; a 49% ownership of ACE Industrial Services that operates in
the oil sands industrial maintenance services market, and a 45% ownership of a
Chinese joint venture company in the steel fabrication market in Asia. Empire's
common shares are listed on the TSX Venture Exchange under the symbol EIL.
For more information about the Company, visit www.empind.com.
Reader Advisory
This news release contains forward-looking statements, within the meaning of
applicable securities legislation, concerning Empire's business and affairs. In
certain cases, forward-looking statements can be identified by the use of words
such as "plans", "expects" or "does not expect", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or variations of such words
and phrases or state that certain actions, events or results "may", "could",
"would", "might" or "will be taken", "occur" or "be achieved". These forward
looking statements are based on current expectations, and are naturally subject
to uncertainty and changes in circumstances that may cause actual results to
differ materially. Readers are cautioned not to place undue reliance on such
forward-looking statements. Forward-looking information is provided as of the
date of this press release, and Empire assumes no obligation to update or revise
them to reflect new events or circumstances, except as may be required under
applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Empire Industries Ltd.
Guy Nelson
Chief Executive Officer
(416) 366-7977
gnelson@empind.com
Empire Industries Ltd.
Allan Francis
Vice President - Corporate Affairs and Administration
(204) 589-9301
afrancis@empind.com
www.empind.com
=============================================================
Empire Industries Ltd. (TSX VENTURE:EIL) today reported its unaudited
consolidated financial results for the second quarter ended June 30, 2013. The
unaudited consolidated financial statements and MD&A have been filed on SEDAR
and can be viewed at www.sedar.com or at www.empind.com.
For the year and quarter ended June 30(1)
($ millions except share price and per Q2 Q2 YTD YTD
share amounts) 2013 2012 2013 2012
----------------------------------------------------------------------------
Financial Results
Revenue 28.4 22.1 52.2 38.9
Adjusted Gross Margin ($)(2) 4.4 3.4 8.7 5.6
Adjusted EBITDA ($)(3) 1.5 1.1 3.0 1.4
Net income from continuing operations 1.0 0.9 2.1 2.1
Net income from all operations 1.0 0.7 2.1 1.7
----------------------------------------------------------------------------
Financial Position (at June 30)
Total assets 35.0 35.6
Long-term debt (including current
portion) (1.6) (1.7)
Shareholders' equity 9.3 9.5
----------------------------------------------------------------------------
Basic Per Share Information
Income per share from continuing
operations 0.005 0.005 0.01 0.01
Income per share from all operations 0.005 0.005 0.01 0.01
----------------------------------------------------------------------------
Diluted Per Share Information
Income per share from continuing
operations 0.005 0.005 0.01 0.01
Income per share from all operations 0.005 0.005 0.01 0.01
----------------------------------------------------------------------------
(1) Prepared in accordance with IFRS.
(2) Adjusted Gross Profit takes into account revenues and direct and indirect
cost of sales excluding depreciation and amortization. While not an IFRS
measure, Adjusted Gross Profit is a key metric used by management to assess the
operational performance of the Group.
(3) Adjusted earnings (loss) before interest, tax, depreciation and amortization
(Adjusted EBITDA) is not defined by IFRS. The definition of Adjusted EBITDA does
not take into account the Group's share of profit of an associate investment,
gains and losses on the disposal of assets, fair value changes in foreign
currency forward contracts and non-cash components of stock based compensation.
While not IFRS measures, Adjusted EBITDA is used by management, creditors,
analysts, investors and other financial stakeholders to assess the Group's
performance and management from a financial and operational perspective.
Summary of results
-- Revenues from continuing operations increased by $13.2 million or 34% in
the first half of 2013 to $52.2 million.
-- EBITDA from continuing operations increased by $1.6 million or 111% in
the first half of 2013 to $3.0 million.
-- The Group had net income of $2.1 million for the first half of 2013
($0.01 per share), versus net income of $1.7 million ($0.01 per share)
in the first half of 2012.
-- Backlog has increased to $115 million at July 31, 2013 from $92.0
million at December 31, 2012.
"Our financial results continue to reflect Empire's strategic transformation,"
said Guy Nelson, CEO of Empire Industries. "Our focus on higher value added
product manufacturing has increased our gross margins. Our increased sales
volumes are driving higher utilization rates, which translate into improved
fixed cost absorption. As a result of all this, we have nearly doubled our
year-to-date EBITDA compared to the same period last year."
About Empire Industries Ltd.
Empire Industries Ltd. manufactures specialized engineered products and sells
these products domestically and in select international export markets. The
company has developed, designed and engineered products for the rapidly growing,
global, media based attractions market. The company also provides steel
fabrication & installation services, primarily to the industrial, commercial and
infrastructure market in Western Canada. The company also has two key strategic
equity partnerships; a 49% ownership of ACE Industrial Services that operates in
the oil sands industrial maintenance services market, and a 45% ownership of a
Chinese joint venture company in the steel fabrication market in Asia. Empire's
common shares are listed on the TSX Venture Exchange under the symbol EIL.
For more information about the Company, visit www.empind.com.
Reader Advisory
This news release contains forward-looking statements, within the meaning of
applicable securities legislation, concerning Empire's business and affairs. In
certain cases, forward-looking statements can be identified by the use of words
such as "plans", "expects" or "does not expect", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or variations of such words
and phrases or state that certain actions, events or results "may", "could",
"would", "might" or "will be taken", "occur" or "be achieved". These forward
looking statements are based on current expectations, and are naturally subject
to uncertainty and changes in circumstances that may cause actual results to
differ materially. Readers are cautioned not to place undue reliance on such
forward-looking statements. Forward-looking information is provided as of the
date of this press release, and Empire assumes no obligation to update or revise
them to reflect new events or circumstances, except as may be required under
applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Empire Industries Ltd.
Guy Nelson
Chief Executive Officer
(416) 366-7977
gnelson@empind.com
Empire Industries Ltd.
Allan Francis
Vice President - Corporate Affairs and Administration
(204) 589-9301
afrancis@empind.com
www.empind.com
=============================================================
Empire Industries Closes $3 Million Unit Private Placement
PrintAlert
Empire Industries Ltd. ("Empire" or the "Company") (TSX VENTURE:EIL) is pleased
to announce that today it closed a non-brokered private placement of units (the
"Private Placement") to Canada Zhoufa Agricultural Holding Company Limited
("Canada Zhoufa"), a subsidiary of Zhejiang ZF Investment Co. Ltd. ("ZZG") of
China. The Company issued 60,000,000 Units at a price of $0.05 per Unit for
gross proceeds of $3,000,000 with each Unit consisting of one common share and
one-half of one warrant. Each whole warrant will entitle the holder to purchase
one additional common share at a price of $0.05 per share on or before the date
that is one (1) year from the closing, and thereafter at an exercise price of
$0.10 per share on or before the date that is five (5) years from the closing.
Canada Zhoufa subscribed for 50,400,000 Units for gross proceeds of $2,520,000.
Insiders of the Company subscribed for 9,600,000 Units for gross proceeds of
$480,000 or approximately 16% of the private placement. All securities issued
pursuant to the Private Placement are subject to a four month hold pursuant to
applicable securities legislation.
In conjunction with the closing of the Private Placement, the Board of Directors
has appointed Jack Chang as a director of the Company. Mr. Chang is the founder
and managing partner of Canadian Resources Capital, a private investment firm
that is active in cross border businesses.
With reference to its press release dated May 15, 2013, the Company wishes to
advise that the $2.0 million Convertible Debenture Private Placement, joint
venture capitalization and the two Credit Facilities described therein will
require additional time to complete, and close at a later date. Because the
TSX-V preliminary approval of the Convertible Debenture Private Placement will
expire before the Company expects to close the Convertible Debenture, the
Company formally withdraws the existing application on file with the TSX-V. The
Company intends to re-submit the application to the TSX-V and close the
Convertible Debenture Financing as soon as practicable.
Zhejiang ZF Investment Co., Ltd. (ZZG)
Mr. Junliang Xie is the founder and Chairman of ZZG, a personal holding company
with private equity investments in over ten independently operated industrial
and service companies, predominately in China. Mr. Xie was in the first class of
the Private Equity Investment Program offered by Peking University. Mr. Xie
holds an Executive MBA degree from Zhejiang University. Mr.Xie is a director of
three private equity funds in China; Zhoushan Rongsheng Investment Co., Ltd.,
Zhoushan Marine Economy Venture Capital Co., Ltd. and Beijing Qianzhou Qingyuan
Investment Fund Management Co., Ltd. He is also the Managing Director of a
recently created, RMB yen 5 billion (USD $800 million) private equity fund
called the Zhoushan Restructuring Private Equity Fund, whose purpose is to
invest for financial returns and improve Zhoushan industries' global
competitiveness.
About Empire Industries Ltd.
Empire Industries Ltd. manufactures specialized engineered products and sells
these products domestically and in select international export markets. The
company has developed, designed and engineered products for the rapidly growing,
global, media based attractions market. The company also provides steel
fabrication & installation services, primarily to the industrial, commercial and
infrastructure market in Western Canada. The company also has two key strategic
equity partnerships; a 49% ownership of ACE Industrial Services that operates in
the oil sands industrial maintenance services market, and a 45% ownership of a
Chinese joint venture company in the steel fabrication market in Asia. Empire's
common shares are listed on the TSX Venture Exchange under the symbol EIL.
For more information about the Company, visit www.empind.com.
Reader Advisory
This news release contains forward-looking statements, within the meaning of
applicable securities legislation, concerning Empire's business and affairs. In
certain cases, forward-looking statements can be identified by the use of words
such as "plans", "expects" or "does not expect", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or variations of such words
and phrases or state that certain actions, events or results "may", "could",
"would", "might" or "will be taken", "occur" or "be achieved". These forward
looking statements are based on current expectations, and are naturally subject
to uncertainty and changes in circumstances that may cause actual results to
differ materially. Readers are cautioned not to place undue reliance on such
forward-looking statements. Forward-looking information is provided as of the
date of this press release, and Empire assumes no obligation to update or revise
them to reflect new events or circumstances, except as may be required under
applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Empire Industries Ltd.
Guy Nelson
Chief Executive Officer
(416) 366-7977
gnelson@empind.com
Empire Industries Ltd.
Allan Francis
Vice President - Corporate Affairs and Administration
(204) 589-9301
afrancis@empind.com
www.empind.com
=============================================================
Empire Industries Ltd. (TSX VENTURE:EIL) today reported its unaudited
consolidated financial results for the first quarter ended March 31, 2013. The
unaudited consolidated financial statements and MD&A have been filed on SEDAR
and can be viewed at www.sedar.com or at www.empind.com.
For the year and quarter ended March 31
Q1 Q1
($ millions except share price and per share amounts) 2013 2012
----------------------------------------------------------------------------
Financial Results
Revenue 23.8 16.8
Adjusted Gross Profit ($)(2) 4.3 2.2
Adjusted EBITDA ($)(3) 1.5 0.3
Net income from continuing operations 1.1 1.2
Net income from all operations 1.1 1.1
----------------------------------------------------------------------------
Financial Position (at March 31)
Total assets 43.3 30.8
Long-term debt 3.9 4.2
Shareholders' equity 8.3 8.8
----------------------------------------------------------------------------
Basic Per Share Information
Income per share from continuing operations 0.01 0.01
Income per share from all operations 0.01 0.01
----------------------------------------------------------------------------
Diluted Per Share Information
Income per share from continuing operations 0.01 0.01
Income per share from all operations 0.01 0.01
----------------------------------------------------------------------------
(1) Prepared in accordance with IFRS.
(2) Adjusted Gross Profit takes into account revenues and direct and
indirect cost of sales excluding depreciation and amortization. While
not an IFRS measure, Adjusted Gross Profit is a key metric used by
management to assess the operational performance of the Group.
(3) Adjusted earnings (loss) before interest, tax, depreciation and
amortization (Adjusted EBITDA) is not defined by IFRS. The definition of
Adjusted EBITDA does not take into account the Group's share of profit
of an associate investment, gains and losses on the disposal of assets,
fair value changes in foreign currency forward contracts and non-cash
components of stock based compensation. While not IFRS measures,
Adjusted EBITDA is used by management, creditors, analysts, investors
and other financial stakeholders to assess the Group's performance and
management from a financial and operational perspective.
Summary of results
-- Revenues from continuing operations increased by $7.0 million or 42% in
the first quarter of 2013 to $23.8 million.
-- EBITDA from continuing operations increased by $1.2 million in the first
quarter of 2013 to $1.5 million.
-- The Group had net income of $1.1 million for the first quarter of 2013
($0.01 per share), versus net income of $1.1 million ($0.01 per share)
in the first quarter of 2012.
-- Backlog has increased to $111 million at April 30, 2013 from $92.0
million at December 31, 2012;
"The effects of the Company's strategic transformation is now starting to show
in our financial results," said Guy Nelson, CEO of Empire Industries. "Our 42%
increase in revenue over the prior year's first quarter, is a direct result of
executing some of our substantial and growing backlog. The $1.2 million increase
in EBITDA from continuing operations arises from higher utilization rates on
increased sales volumes, as well as a 5.2% increase in gross profit margin to
18.1% from 12.9%. This higher margin flows from our strategic repositioning in
the market to higher value added product manufacturing."
About Empire Industries Ltd.
Empire Industries Ltd. manufactures specialized engineered products and sells
these products domestically and in select international export markets. The
company has developed, designed and engineered products for the rapidly growing,
global, media based attractions market. The company also provides steel
fabrication & installation services, primarily to the industrial, commercial and
infrastructure market in Western Canada. The company also has two key strategic
equity partnerships; a 49% ownership of ACE Industrial Services that operates in
the oil sands industrial maintenance services market, and a 45% ownership of a
Chinese joint venture company in the steel fabrication market in Asia. Empire's
common shares are listed on the TSX Venture Exchange under the symbol EIL.
Reader Advisory
This news release contains forward-looking statements, within the meaning of
applicable securities legislation, concerning Empire's business and affairs. In
certain cases, forward-looking statements can be identified by the use of words
such as "plans", "expects" or "does not expect", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or variations of such words
and phrases or state that certain actions, events or results "may", "could",
"would", "might" or "will be taken", "occur" or "be achieved". These forward
looking statements are based on current expectations, and are naturally subject
to uncertainty and changes in circumstances that may cause actual results to
differ materially. Readers are cautioned not to place undue reliance on such
forward-looking statements. Forward-looking information is provided as of the
date of this press release, and Empire assumes no obligation to update or revise
them to reflect new events or circumstances, except as may be required under
applicable securities laws.
FOR FURTHER INFORMATION PLEASE CONTACT:
Empire Industries Ltd.
Guy Nelson
Chief Executive Officer
(416) 366-7977
gnelson@empind.com
Empire Industries Ltd.
Allan Francis
Vice President - Corporate Affairs and Administration
(204) 589-9301
afrancis@empind.com
www.empind.com
KLYG.. $0.165.. Kelyniam Global Inc. Revenues Grow 54% from Prior Year ... Maybe it's becoming a powerball.. hank
Canton, CT, April 7, 2014 (GLOBE NEWSWIRE) -- Kelyniam Global Inc.(OTC: KLYG), a manufacturer of custom cranial implants, announces preliminary revenue of $1,857,516 for 2013. This represents an increase of 54% vs. sales of $1,206,227 in 2012. The Kelyniam product fit and quick turnaround has captured the attention of surgeons throughout the United States. The revenue increase reflects the continued rollout in many additional hospitals. The company will provide financials on their website, kelyniam.com, when they become available in final form from the Accounting Firm.
President and CEO Tennyson S. Anthony stated: "Although we are showing consistent growth and have become a profitable company in a relatively short time, rest assured we are focused on building a company that has the ability to grow at a much greater rate in the near future. My team and I have been working tirelessly to create a company that has the technology, economic fortitude, and operational efficiency to be the market leader in customized implants. We are just starting to see the fruits of our efforts."
About Kelyniam Global, Incorporated
Kelyniam Global (Pinksheets: KLYG), Inc. specializes in the use of CAD/CAM technology to provide patient specific custom implants to assist medical professionals by allowing them to operate more effectively, improve patient care, and reduce health care costs by providing the highest quality products available with today's technology. The company is continually researching and developing new products and processes to help patients live more active and productive lives.
Please visit our website at www.kelyniam.com for more information.
Forward-Looking Statements
Except for historical information contained in this release, the matters discussed are forward-looking statements that involve risks and uncertainties. When used in this release, words such as "anticipate," "believes," "estimate," "expect," "should," "intend," "projects," "objective" and "appears" and similar expressions, as they relate to the Company or its management, identify forward-looking statements. Such forward-looking statements are based on the beliefs of the Company's management, as well as assumptions made by and information currently available to the Company's management. Among the factors that could cause actual results to differ materially are the following: the effect of business and economic conditions; the impact of competitive products and pricing; capacity and supply constraints or difficulties; product development, commercialization or technological difficulties; the regulatory and trade environment; the impact of reimbursement rates and coverage; and the risk factors reported from time to time in the Company's SEC reports. The Company undertakes no obligation to revise any forward-looking statements as a result of future events or developments.
Source: Kelyniam Global Inc.
2014 GlobeNewswire, Inc.
KLYG.. $0.165.. Kelyniam Global Inc. Revenues Grow 54% from Prior Year ...
Canton, CT, April 7, 2014 (GLOBE NEWSWIRE) -- Kelyniam Global Inc.(OTC: KLYG), a manufacturer of custom cranial implants, announces preliminary revenue of $1,857,516 for 2013. This represents an increase of 54% vs. sales of $1,206,227 in 2012. The Kelyniam product fit and quick turnaround has captured the attention of surgeons throughout the United States. The revenue increase reflects the continued rollout in many additional hospitals. The company will provide financials on their website, kelyniam.com, when they become available in final form from the Accounting Firm.
President and CEO Tennyson S. Anthony stated: "Although we are showing consistent growth and have become a profitable company in a relatively short time, rest assured we are focused on building a company that has the ability to grow at a much greater rate in the near future. My team and I have been working tirelessly to create a company that has the technology, economic fortitude, and operational efficiency to be the market leader in customized implants. We are just starting to see the fruits of our efforts."
About Kelyniam Global, Incorporated
Kelyniam Global (Pinksheets: KLYG), Inc. specializes in the use of CAD/CAM technology to provide patient specific custom implants to assist medical professionals by allowing them to operate more effectively, improve patient care, and reduce health care costs by providing the highest quality products available with today's technology. The company is continually researching and developing new products and processes to help patients live more active and productive lives.
Please visit our website at www.kelyniam.com for more information.
Forward-Looking Statements
Except for historical information contained in this release, the matters discussed are forward-looking statements that involve risks and uncertainties. When used in this release, words such as "anticipate," "believes," "estimate," "expect," "should," "intend," "projects," "objective" and "appears" and similar expressions, as they relate to the Company or its management, identify forward-looking statements. Such forward-looking statements are based on the beliefs of the Company's management, as well as assumptions made by and information currently available to the Company's management. Among the factors that could cause actual results to differ materially are the following: the effect of business and economic conditions; the impact of competitive products and pricing; capacity and supply constraints or difficulties; product development, commercialization or technological difficulties; the regulatory and trade environment; the impact of reimbursement rates and coverage; and the risk factors reported from time to time in the Company's SEC reports. The Company undertakes no obligation to revise any forward-looking statements as a result of future events or developments.
Source: Kelyniam Global Inc.
2014 GlobeNewswire, Inc.
December ,, mid month 2015..
I think there has been enough penetration of the DC axis that the likelyhood of $0.0018 becomes more likely daily.. At that price the converters may buy below $0.0014.. Not a pretty alignment of the AC axis is apparent.. hank
Funny,, that's what they posted about me when I was a seller into whales along with the other "Stupids/Bashers/Retards" that did not believe it was going to $15.00 in 2 years,, not even $2.00 .. Now your gone and the Whale Hunter is back.. One thing is for sure SPIN has destroyed a lot of investment capitol that was distributed to a promotion based upon hype /promise and Mirrors.. But it is also constant reminder that may be displayed to others that 2 and don't make 7.. My posts that remained still tell the story if anyone cares.. Hank
ESCC.. $0.54.. I agree,, I sold out the other day on open orders that I never expected would ever occur.. Only had 22K but it made my day.. $0.51 AVE.. I would not buy back above $0.16.. If it were not for the constant huge $0.10 bids that came back over and over again I would of been gone long ago,, BECAUSE IT LOOKED TO GOOD TO BE TRUE I NEVER ADDED AFTER THE INITAL PURCHASES.. .. hank
hank
In Reply to 'subsareme' on 'Alliance Creative Group, Inc. (ACGX)
You hit the nail on the head but what must occur now is an extention of the base w/o false closings that close AC extentions.. .. They in themselve create a new baseline to be formed and the directional axis becomes a DC line instead of an AC line of expectation.. Buying on the ask rather than bidsitting does not unless all actual including hidden shares that are offered are bought creates nothing than the extention of the DC azis and does not allow penetration of the true bids to find out the true support level from which a new base may develop..
Each penetration of the $0.003 level sets up the scramble of AC lines to recapture the baseline w/o removing that penetration from the axis chart.. This is what causes spikes that meet sales of volume and the inability to continue any forward movement.. The longer it goes on the higher the layer of supply combined with Conversion it creates a wall that becmoes increasingly harder to penetrate..
I would estimate that the shares AVIL thru $0.0046 are APROX, 225 Million if no new shares are converted .. The true bid to $0.0018 indicates less that 56 Million on the books and sidlines watchers because the cup of buyers are now far more than half full..
New money must be found soon or ACGX will as before fall on the weight of those from the flipping society that needs movement to the upside to continue to stick around,, making it easier for the converters to restock any shares sold at this level at a much lower level.....
The AC Axis at present on the bid side shows little support above $0.0022 and the penetration level of the AC extention sell side is now lowered to $0.0038 with a ratio of 5.6 to One to the sell side over the bids.... hank
=================================
ACGX.. $0.0018... WOW.. In all of my 50 years on Wall Street I have never seen it put in more easy way to understand why the wave theroy works and the allignment of the waves in this case becoming an intersection of forces that will propell ACGX to lofty heights not seen in recent times.. Well done in the explanation of this difficult to explain theroy.. ACGX if you are right could be a 10 Bagger in less than 2 months.. hank
Revenues may be up but the shares outstanding have increased by 16X in the same period.. 73X in the past 2 years and expect more as the President increases his conversion rights again at the stroke of a pen w/o any payment or benifit to any other shareholder.. hank.. This is a Pumping,, Dumping,, DILUTING machine..
Others may dilute is true but not by just doubling the insiders shares at will.. hank
I Agree.... $0.0008..
ACGX.. $0.003.. Is that the same CEO that promised to update the shares outstanding each week.. The only transperancy you will see is the selling of shares at the ask and filling bids on the offer when the bids start to thin out..
They want this POS back to below $0.001 so they can Convert more and do another P&D.. Is this the same CEO that auth. the doubling of the president's shares on conversion by 400,000,000 using the stroke of his pen.. He gives little care as always to other shareholders as they control the preferred and can make them exchangable for 10 to one if they so desire and you can't do a thing about it..
Hope for truth is based upon the greather fool theroy.. Some one needs to come along and buy enough to continue soaking up the conversions and take out the last group of believers/hopers.. Now that the ask is stacked it's like playing with someone in poker that deals from the bottom of the deck.. It's called being cheated there but here it's just dilution that has no benifit to the outside shareholders.. hank
===============================================
ACGX.. $0.0034.. Since ACGX has promised to be transparant and release the shares outstanding each week ,, Monday would be a good day for another puff release and the shares now outstanding.. .. But if they don't does anyone know how long it's been since they stopped this acting on this promise..???
The last time they forgot to release share amounts to be transparent as promised the President took the Opp. to double the conversion rights of his Preferred shares at a stroke of a pen W/O any compensation to any other shareholder.. (400,000,000 Million Shares)
Since there is no volume it will become easiers for the converters to take ACGX down reducing the amount they must convert at,, increasing thier opp. to make more money on the next P&D..
Wash and Rinse.. hank
ACGX.. $0.0034.. What makes the quoted portion of this post of any importance.. ???
All balance sheets have assets that are equal to Lia.. It is useless why they go up or down in the consideration of any balance analysis.. hank
The total lia. of the Alliance Creative Group as of 12/31/13 were $6,307,256 compared to 12/31/12 when they were $5,913,268. This is an increase of $393,988 or 6.7%.
As you know by the volume I added a bunch today,, hank
ACGX $0.0034 The discussion of other stocks or posters on this or other stock boards is in Violation of I-Hub rules and will be deleted..
ACGX is a Scam because they control shares thru preferred stock and may distribute as many common as they wish at will.. If it didn't have a good balance sheet or earnings this could never be accomplished..
To show how much they are in control RECENTLY they doubled the conversion rate of conversion of the president's shares at the stroke of a pen w/o any benefit to any shareholder than the president.. In fact they had only 8.5 million shares outstanding just a little more than two years ago and have continued to dilute at will rather than take one quarters earnings and pay off the debt.. Thier agenda is to sell stock to line thier pockets because they may/can /have washed and rinsed before at the stroke of a pen..
As long as they can do this they can reverse at will and give the president enough shares as before to own again 99%.. Those are the facts avil to anyone that did any DD of the past 2 years 10K's,, 10Q's,, or other filings and PR's that were not paid for schemes to P&D.. ..
The PPS is down 97% in the past two years because the shares have increased by 71 Times.. Thats a fact.. hank
ACGX.. $1.80 prediction.. Wow.. Sell the kids,, house and wife..
ACGX $0.0034.. If history is any guide and the shares in the float continue to go up because of conversions with Volume day's like today how many shares will you bid for with and be willing to hold with only $1225.00 worth of dollars traded today.. Less than the price of one share of GOOG... All high Volume day's with spike ups have fallen apart,, usually the same day the spike was made.. In the past six months how many new converted shares were created..?? What was the price 6 months ago or 2 years ago.. The converters create supply and dilute the EPS..
Check out the share price 1 month ago and today's price and the number of posts inbetween,, keeping in mind that ACGX was yesterday's ultimate April's fool joke.. hank
TEXC.. Nice but,,??
TexCom Announces Results for 2013
Marketwire - Mar 31 18:59 EDT
Alert hits:EDG End
Company Symbols: OTC-PINK:TEXC
HOUSTON, TX -- (Marketwired) -- 03/31/14 -- TexCom, Inc. (PINKSHEETS: TEXC) (the "Company" or "TexCom"), an environmental services company serving the oil and gas industry, today announced financial results for 2013.
"We achieved significant growth in revenues, operating income, and income before income taxes in 2013, fueled principally by improved performance by our Eagle Ford Environmental Services, LLC unit. The second well at this location went into operation in early November resulting in an immediate substantial increase in disposal volumes and oil recovery. We look forward to a full year of operations for this unit in 2014. We also significantly strengthened our balance sheet in 2013. We are excited about the opportunities we have to achieve new growth in 2014," stated Bob May, CEO and President.
Financial Highlights for the year ended December 31, 2013 compared to the year ended December 31, 2012:
Revenues totaled $15.89 million, increasing 38% from $11.53 million. Gross profit margin held steady at 48%.
Operating income increased 45% to $5.08 million from $3.50 million.
Income before income taxes increased 300% to $4.28 million from $1.43 million.
Net income available to shareholders was essentially flat at $3.88 million compared to $3.77 million. In both years, the company revalued its deferred income tax asset resulting from its net operating loss carryforwards (NOLs) and other book-to-tax differences. As a result, the company recognized $10,000 of income tax expense in 2013, compared to a benefit of $2.65 million for 2012.
Earnings per share on a fully diluted basis were unchanged at $0.05.
Total liabilities decreased to $9.65 million from $10.91 million.
TexCom equity increased to $4.43 million from $540,000.
Prior to 2012, the Company valued its net operating loss carryforwards (NOLs) at zero due to the uncertainty of generating future income to utilize the NOLs. With the substantial improvement in operations, the Company revalued the NOLs in 2012 and recorded the future benefit as an asset, and has been recognizing income tax expense. In 2013, the Company again revalued certain deferred income tax assets including the NOLs and other book-to-tax differences and increased its estimate of their value by approximately $1.62 million.
About TexCom, Inc.
TexCom, headquartered in Houston, Texas, is a growth-oriented environmental services company with a primary focus on the disposal of nonhazardous wastes generated by the oil & gas industry. For more information, please visit www.texcomresources.com.
Forward-Looking Statements
This press release and the presentation referenced above may contain forward-looking statements, including information about management's view of TexCom, Inc.'s future expectations, plans and prospects. In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release or such presentation other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of TexCom, Inc., its divisions and concepts to be materially different than those expressed or implied in such statements. Unknown or unpredictable factors also could have material adverse effects on TexCom's future results. The forward-looking statements included in this press release and the presentation are made only as of the date hereof. TexCom cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, TexCom undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by TexCom.
TexCom, Inc.
Bob May
Email Contact
Source: TexCom, Inc.
It depends upon how many new buyers come on that will buy the converters supply and buy the wore out and beaten up baghoders out.. Go back 3 mo's and see who was posting and then go back 6 mo's to see the same.. Where did all the believers go..??? Where will you be in Six Months..?? hank
Sense of humor,, not really,, read the sticky and look at the words at that rate,, Interpet what you want because the coverters are happy at this price,, Remember if you bid you will get wacked,, so just pay the ask and they (The Converters ) will allow you to pay more.. Don't buy smartly but just pay up.. By doing so the Converters will let you pay higher prices as on the most recent PUMP and DUMP.. hank
Because 10-bagger is a mod.. hank