In Florida overlooking the Intercoastal Waterway..
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I GUESS IT WON'T TRADE AT $3.00 as projected by some when they pointed out that the STUPIDS were the only sellers.. Like I said a few posts ago,, this is a real POS..
Get with the program.. They are the sellers,, why would they ever want to buy.. 1 Billion shares by Sept.. hank
URGENT!!!Something Better Happen Here Fast!!!
And this company Needs to REACT to this New Law Coming into Place!!! We Need to Correspond with this company and OUR Survival!!! Act Fast People as May 1st Isn't Far Off!!!
subs
http://mobile.reuters.com/article/idUSL1N0MN13N20140326?irpc=932
Top News
US over-counter trading tightens reporting, other standards
Wed, Mar 26 16:15 PM EDT
NEW YORK, March 26 (Reuters) - OTC Markets, the operator of three U.S. over-the-counter equity markets, is rolling out tighter reporting standards and eligibility requirements for its venture-stage market to crack down on stock scams and bolster transparency, the company said on Wednesday.
On May 1 for its OTCQB market, OTC Markets will introduce a new minimum one-cent bid price requirement and will require the company's chief executive or chief financial officer to certify that its reporting obligations are current and that disclosures about shareholdings, officers and corporate profile are correct.
The bid requirement, in which stocks must have been quoted for at least 1 cent daily over a 30-day period or be dropped from the market, aims to ferret out companies that fall prey to dilutive stock fraud schemes and promotions, OTC Markets said.
OTC Markets also will charge a one-time $2,500 fee for new applicants and an annual $10,000 fee for companies trading on its markets.
Foreign companies that are listed on a qualified stock exchange and are current in their U.S. reporting obligations will be allowed to trade on OTCQB, OTC Markets' middle-tier marketplace. In the past, they traded on the lowest "pink" tier.
On Tuesday, the two most actively traded stocks on OTC Markets on Tuesday were French dairy products maker Danone SA and Swiss pharmaceuticals Roche Holding AG .
Trading volume on OTC Markets was 20.1 billion shares on Tuesday, about three times that of all U.S. stock exchanges and other trading venues. But the value traded, $1.4 billion, paled in comparison with the $263.4 billion executed on the other exchanges and venues, data from BATS Global Markets showed. (Reporting by Herbert Lash)
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CONX.. $0.395.. After posting I made some purchases in My IRA's and sold the intire position today at an AVE of $0.389.. Not the 300K but had almost 80K.. Nice ride,, hank
AMTX.. $0.68.. I'm sure late to this RODEO but I bought a starter position today.. Son of PEIX..?? hank
Aemetis, Inc. Reports Record Fourth Quarter and Year-End 2013 Financial Results
Business Wire - Mar 18 08:45 EDT
Alert hits:/am
Company Symbols: OTC-PINK:AMTX
Record quarterly gross profit, operating income and adjusted EBITDA
Record annual gross profit, operating income and adjusted EBITDA
$4.9 million of cash as of December 31, 2013
Paid more than $12.0 million of principal and interest on debt during 2013 and during the first quarter of 2014
CUPERTINO, Calif.--(BUSINESS WIRE)-- Aemetis, Inc. (OTC.QB: AMTX), the largest producer of biofuels in California and the largest US-owned biofuels producer in Asia, today announced its financial results for the three- and twelve-months ended December 31, 2013.
“Our fourth quarter 2013 results reflect a year of record financial performance and significant progress for Aemetis,” said Eric McAfee, Chairman and CEO of Aemetis, Inc. “During 2013, we diversified our feedstock. After retrofitting and restarting our plant in May 2013, we processed about 84 million pounds (42,000 tons) of grain sorghum; became the first US ethanol plant approved by the EPA to produce lower-carbon, higher-value Advanced Biofuels (and to receive D5 RINs) using sorghum/biogas/CHP; and upgraded our India plant by constructing and commissioning a biodiesel distillation unit. These efforts translated into record levels of revenue from our India operations, and company-wide records for operating income and Adjusted EBITDA,” added McAfee.
Financial Results for the Three Months Ended December 31, 2013
Revenues were $54.1 million for the fourth quarter of 2013, compared to $47.2 million for the fourth quarter of 2012. The increase in revenues was primarily attributable to an increase ethanol production by consistently operating the Keyes plant above nameplate capacity.
Gross profit was a record $11.3 million for the fourth quarter of 2013, compared to a gross loss of $2.4 million in the fourth quarter of 2012. The improvement in gross profit was driven by significantly improved production margins.
Selling, general and administrative ("SG&A") expenses were $3.2 million in the fourth quarter of 2013, compared to $4.7 million in the fourth quarter of 2012. The decrease in SG&A expenses was primarily attributable to one-time financial advisory service fees during the fourth quarter of 2012.
Operating income for the fourth quarter of 2013 was a record $8.0 million, compared to an operating loss of $7.2 million for the same period in 2012.
Net Income for the fourth quarter of 2013 was $3.3 million, compared to a loss of $12.2 million for the fourth quarter of 2012.
Adjusted EBITDA for the fourth quarter of 2013 was a record $9.9 million, compared to Adjusted EBITDA of negative $6.2 million for the same period in 2012.
“We paid more than $12.0 million of principal and interest on debt during 2013 and during the first quarter of 2014. This debt reduction lowers our interest costs each month and increases shareholder equity. In addition to the pay down of debt using positive cash flow from operations, we have ongoing debt reduction and refinance activities underway that we believe will further lower the interest costs incurred by the company and support increased profitability in the future,” said Todd Waltz, EVP and CFO of Aemetis.
Financial Results for the Year Ended December 31, 2013
For the full year 2013, revenues were $177.5 million, compared to $189.0 million for the 2012 year. The decrease in revenues was attributable to the idling of our ethanol plant for approximately three months during Q1 and Q2 2013. While idled, the plant was retrofitted to process grain sorghum (qualifying for Advanced Biofuels D5 RINs). The plant was restarted in May 2013.
Gross profit was a record $18.3 million for 2013, compared to a gross loss of $8.9 million for 2012. Operating income for 2013 was a record $2.5 million, compared to an operating loss of $21.2 million for the same period in 2012, representing an improvement of $23.7million year-over-year. Net loss for the full year 2013 was $24.4 million, compared to a loss of $4.3 million for the same period in 2012.
Adjusted EBITDA for the full year 2013 was a record $8.4 million, compared to Adjusted EBITDA of negative $17.9 million for the same period in 2012.
NON-GAAP FINANCIAL INFORMATION
We have provided non-GAAP measures as a supplement to financial results based on GAAP. A reconciliation of the non-GAAP measures to the most directly comparable GAAP measures is included in the accompanying supplemental data. Adjusted EBITDA is defined as net income/(loss) plus (to the extent deducted in calculating such net income) interest (income)/expense, income tax (benefit)/expense, depreciation and amortization, (gain)/loss on bargain purchase and (gains)/losses resulting from debt extinguishment.
Adjusted EBITDA is not calculated in accordance with GAAP and should not be considered as an alternative to net income/(loss), operating income/(loss) or any other performance measures derived in accordance with GAAP or to cash flows from operating, investing or financing activities as an indicator of cash flows or as a measure of liquidity. Adjusted EBITDA is presented solely as a supplemental disclosure because management believes that it is a useful performance measure that is widely used within the industry in which we operate. In addition, management uses Adjusted EBITDA for reviewing financial results and for budgeting and planning purposes. EBITDA measures are not calculated in the same manner by all companies and, accordingly, may not be an appropriate measure for comparison.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
This news release contains forward-looking statements, including statements regarding our assumptions, projections, expectations, targets, intentions or beliefs about future events or other statements that are not historical facts. Forward-looking statements in this news release, include without limitation, statements regarding our ability to leverage approved feedstock pathways; our ability to refinance our debt, further reduce our interest costs and increase profitability; and our ability to continue to fund operations with cash from operations. Words or phrases such as “anticipates,” “may,” “will,” “should,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “targets,” “will likely result,” “will continue” or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on current assumptions and predictions and are subject to numerous risks and uncertainties. Actual results or events could differ materially from those set forth or implied by such forward-looking statements and related assumptions due to certain factors, including, without limitation, competition in the ethanol and other industries in which we operate, commodity market risks including those that may result from current weather conditions, financial market risks, counter-party risks, risks associated with changes to federal policy or regulation, risks associated with the conversion of the Keyes plant to the use of sorghum for ethanol production; and other risks detailed in our reports filed with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2013, and in our subsequent filings with the SEC. We are not obligated, and do not intend, to update any of these forward-looking statements at any time unless an update is required by applicable securities laws.
About Aemetis
Headquartered in Cupertino, California, Aemetis is an advanced fuels and renewable chemicals company that was founded in 2006. Aemetis owns and operates a 55 million gallon ethanol and 420,000 ton animal feed plant in California that is the first upgraded facility approved by the EPA to produce D5 Advanced Biofuels using the milo/biogas/CHP pathway. Aemetis also built, owns and operates a 50 million gallon capacity renewable chemicals and advanced fuels production facility on the East Coast of India producing high quality, distilled biodiesel and refined glycerin for customers in Europe and Asia. Aemetis operates a research and development laboratory at the Maryland Biotech Center, and holds five granted patents on its Z-microbe and related technology for the production of renewable fuels and biochemicals. For additional information about Aemetis, please visit aemetis.com.
(Tables follow)
AEMETIS, INC.
CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS
(unaudited, in thousands except per share data)
Three months ended Years ended
December 31 December 31
2013 2012 2013 2012
Revenues $54,053 $47,164 $177,514 $189,048
Cost of goods sold 42,793 49,549 159,220 197,975
Gross profit/(loss) 11,260 (2,385) 18,294 (8,927)
Research and development expenses 71 136 539 621
Selling, general and administrative expenses 3,197 4,687 15,275 11,613
Operating income/(loss) 7,992 (7,208) 2,480 (21,161)
Other income/(expense)
Interest and amortization expense (5,394) (5,011) (24,275) (17,658)
Loss on debt extinguishment - - (3,709) (9,069)
Other income/(expense) 660 (24) 1,073 42,523
Income/(loss) before income taxes 3,258 (12,243) (24,431) (5,363)
Income benefit/(expense) - - (6) 1,081
Net income/(loss) $3,258 $(12,243) $(24,437) $(4,282)
Income/(Loss) per common share
Basic $0.02 $(0.07) $(0.13) $(0.03)
Diluted $0.02 $(0.07) $(0.13) $(0.03)
Weighted average shares outstanding
Basic 198,057 170,735 191,009 151,024
Diluted 202,718 170,735 191,009 151,024
AEMETIS, INC.
CONSOLIDATED CONDENSED BALANCE SHEETS
(unaudited, in thousands)
As of December 31
2013 2012
Assets
Current assets:
Cash and cash equivalents $4,926 $291
Accounts receivable 2,765 1,360
Inventories 4,097 4,556
Prepaid and other assets 919 638
Total current assets 12,707 6,845
Property, plant and equipment, net 78,928 83,894
Goodwill, intangible and other assets 5,507 6,133
Total assets $97,142 $96,872
Liabilities and stockholders' equity/(deficit)
Current liabilities:
Accounts payable 9,366 15,070
Current portion of long term debt, notes and working capital 17,966 34,524
Mandatorily redeemable Series B convertible preferred stock 2,539 2,437
Other current liabilities 6,246 5,804
Total current liabilities 36,117 57,835
Total long term debt 73,792 35,522
Stockholders' equity/(deficit):
Series B convertible preferred stock 2 3
Common stock 200 180
Additional paid-in capital 84,193 75,458
Accumulated deficit (94,246) (69,808)
Accumulated other comprehensive loss (2,916) (2,318)
Total stockholders' equity/(deficit) $(12,767) $3,515
Total liabilities and stockholders' equity/(deficit) $97,142 $96,872
RECONCILIATION OF ADJUSTED EBITDA TO NET INCOME/(LOSS)
(unaudited, in thousands)
Three Months Ended Years Ended
December 31 December 31
2013 2012 2013 2012
Net Income/(loss)
$3,258 $(12,243) $(24,437) $(4,282)
Adjustments:
Interest and amortization expense 5,484 5,011 24,529 17,658
Depreciation expense 1,165 1,066 4,636 3,042
Extinguishment of debt - - 3,709 9,069
Income tax expense/(benefit) - - 6 (1,801)
Gain on bargain purchase - - - (42,336)
Total adjustments 6,649 6,077 32,880 (13,648)
Adjusted EBITDA $9,907 $(6,166) $8,443 $(17,930)
PRODUCTION AND PRICE PERFORMANCE
(unaudited)
Three months ended For years ended
December 31 December 31
2013 2012 2013 2012
Ethanol
Gallons Sold (in 000s) 15,927 11,429 42,390 53,038
Average Sales Price/Gallon $2.46 $2.56 $2.62 $2.50
WDG
Tons Sold (in 000s) 110 89 301 380
Average Sales Price/Ton $103 $110 $100 $103
Biodiesel
Metric tons sold 794 2,003 19,354 4,127
Average Sales Price/Metric ton $968 $927 $929 $1,158
Refined Glycerin
Metric tons sold 1,448 743 4,913 2,280
Average Sales Price/Metric ton $973 $933 $940 $981
aemetis.com
Aemetis, Inc.
Media Contact:
Douglas Denhartog, (408) 213-0938
ddenhartog@aemetis.com
or
Investor & Analyst Contact:
Todd Waltz, (408) 213-0925
twaltz@aemetis.com
AMTX.. $0.68.. I'm sure late to this RODEO but I bought a starter position today.. Son of PEIX..?? hank
Aemetis, Inc. Reports Record Fourth Quarter and Year-End 2013 Financial Results
Business Wire - Mar 18 08:45 EDT
Alert hits:/am
Company Symbols: OTC-PINK:AMTX
Record quarterly gross profit, operating income and adjusted EBITDA
Record annual gross profit, operating income and adjusted EBITDA
$4.9 million of cash as of December 31, 2013
Paid more than $12.0 million of principal and interest on debt during 2013 and during the first quarter of 2014
CUPERTINO, Calif.--(BUSINESS WIRE)-- Aemetis, Inc. (OTC.QB: AMTX), the largest producer of biofuels in California and the largest US-owned biofuels producer in Asia, today announced its financial results for the three- and twelve-months ended December 31, 2013.
“Our fourth quarter 2013 results reflect a year of record financial performance and significant progress for Aemetis,” said Eric McAfee, Chairman and CEO of Aemetis, Inc. “During 2013, we diversified our feedstock. After retrofitting and restarting our plant in May 2013, we processed about 84 million pounds (42,000 tons) of grain sorghum; became the first US ethanol plant approved by the EPA to produce lower-carbon, higher-value Advanced Biofuels (and to receive D5 RINs) using sorghum/biogas/CHP; and upgraded our India plant by constructing and commissioning a biodiesel distillation unit. These efforts translated into record levels of revenue from our India operations, and company-wide records for operating income and Adjusted EBITDA,” added McAfee.
Financial Results for the Three Months Ended December 31, 2013
Revenues were $54.1 million for the fourth quarter of 2013, compared to $47.2 million for the fourth quarter of 2012. The increase in revenues was primarily attributable to an increase ethanol production by consistently operating the Keyes plant above nameplate capacity.
Gross profit was a record $11.3 million for the fourth quarter of 2013, compared to a gross loss of $2.4 million in the fourth quarter of 2012. The improvement in gross profit was driven by significantly improved production margins.
Selling, general and administrative ("SG&A") expenses were $3.2 million in the fourth quarter of 2013, compared to $4.7 million in the fourth quarter of 2012. The decrease in SG&A expenses was primarily attributable to one-time financial advisory service fees during the fourth quarter of 2012.
Operating income for the fourth quarter of 2013 was a record $8.0 million, compared to an operating loss of $7.2 million for the same period in 2012.
Net Income for the fourth quarter of 2013 was $3.3 million, compared to a loss of $12.2 million for the fourth quarter of 2012.
Adjusted EBITDA for the fourth quarter of 2013 was a record $9.9 million, compared to Adjusted EBITDA of negative $6.2 million for the same period in 2012.
“We paid more than $12.0 million of principal and interest on debt during 2013 and during the first quarter of 2014. This debt reduction lowers our interest costs each month and increases shareholder equity. In addition to the pay down of debt using positive cash flow from operations, we have ongoing debt reduction and refinance activities underway that we believe will further lower the interest costs incurred by the company and support increased profitability in the future,” said Todd Waltz, EVP and CFO of Aemetis.
Financial Results for the Year Ended December 31, 2013
For the full year 2013, revenues were $177.5 million, compared to $189.0 million for the 2012 year. The decrease in revenues was attributable to the idling of our ethanol plant for approximately three months during Q1 and Q2 2013. While idled, the plant was retrofitted to process grain sorghum (qualifying for Advanced Biofuels D5 RINs). The plant was restarted in May 2013.
Gross profit was a record $18.3 million for 2013, compared to a gross loss of $8.9 million for 2012. Operating income for 2013 was a record $2.5 million, compared to an operating loss of $21.2 million for the same period in 2012, representing an improvement of $23.7million year-over-year. Net loss for the full year 2013 was $24.4 million, compared to a loss of $4.3 million for the same period in 2012.
Adjusted EBITDA for the full year 2013 was a record $8.4 million, compared to Adjusted EBITDA of negative $17.9 million for the same period in 2012.
NON-GAAP FINANCIAL INFORMATION
We have provided non-GAAP measures as a supplement to financial results based on GAAP. A reconciliation of the non-GAAP measures to the most directly comparable GAAP measures is included in the accompanying supplemental data. Adjusted EBITDA is defined as net income/(loss) plus (to the extent deducted in calculating such net income) interest (income)/expense, income tax (benefit)/expense, depreciation and amortization, (gain)/loss on bargain purchase and (gains)/losses resulting from debt extinguishment.
Adjusted EBITDA is not calculated in accordance with GAAP and should not be considered as an alternative to net income/(loss), operating income/(loss) or any other performance measures derived in accordance with GAAP or to cash flows from operating, investing or financing activities as an indicator of cash flows or as a measure of liquidity. Adjusted EBITDA is presented solely as a supplemental disclosure because management believes that it is a useful performance measure that is widely used within the industry in which we operate. In addition, management uses Adjusted EBITDA for reviewing financial results and for budgeting and planning purposes. EBITDA measures are not calculated in the same manner by all companies and, accordingly, may not be an appropriate measure for comparison.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
This news release contains forward-looking statements, including statements regarding our assumptions, projections, expectations, targets, intentions or beliefs about future events or other statements that are not historical facts. Forward-looking statements in this news release, include without limitation, statements regarding our ability to leverage approved feedstock pathways; our ability to refinance our debt, further reduce our interest costs and increase profitability; and our ability to continue to fund operations with cash from operations. Words or phrases such as “anticipates,” “may,” “will,” “should,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “targets,” “will likely result,” “will continue” or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on current assumptions and predictions and are subject to numerous risks and uncertainties. Actual results or events could differ materially from those set forth or implied by such forward-looking statements and related assumptions due to certain factors, including, without limitation, competition in the ethanol and other industries in which we operate, commodity market risks including those that may result from current weather conditions, financial market risks, counter-party risks, risks associated with changes to federal policy or regulation, risks associated with the conversion of the Keyes plant to the use of sorghum for ethanol production; and other risks detailed in our reports filed with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2013, and in our subsequent filings with the SEC. We are not obligated, and do not intend, to update any of these forward-looking statements at any time unless an update is required by applicable securities laws.
About Aemetis
Headquartered in Cupertino, California, Aemetis is an advanced fuels and renewable chemicals company that was founded in 2006. Aemetis owns and operates a 55 million gallon ethanol and 420,000 ton animal feed plant in California that is the first upgraded facility approved by the EPA to produce D5 Advanced Biofuels using the milo/biogas/CHP pathway. Aemetis also built, owns and operates a 50 million gallon capacity renewable chemicals and advanced fuels production facility on the East Coast of India producing high quality, distilled biodiesel and refined glycerin for customers in Europe and Asia. Aemetis operates a research and development laboratory at the Maryland Biotech Center, and holds five granted patents on its Z-microbe and related technology for the production of renewable fuels and biochemicals. For additional information about Aemetis, please visit aemetis.com.
(Tables follow)
AEMETIS, INC.
CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS
(unaudited, in thousands except per share data)
Three months ended Years ended
December 31 December 31
2013 2012 2013 2012
Revenues $54,053 $47,164 $177,514 $189,048
Cost of goods sold 42,793 49,549 159,220 197,975
Gross profit/(loss) 11,260 (2,385) 18,294 (8,927)
Research and development expenses 71 136 539 621
Selling, general and administrative expenses 3,197 4,687 15,275 11,613
Operating income/(loss) 7,992 (7,208) 2,480 (21,161)
Other income/(expense)
Interest and amortization expense (5,394) (5,011) (24,275) (17,658)
Loss on debt extinguishment - - (3,709) (9,069)
Other income/(expense) 660 (24) 1,073 42,523
Income/(loss) before income taxes 3,258 (12,243) (24,431) (5,363)
Income benefit/(expense) - - (6) 1,081
Net income/(loss) $3,258 $(12,243) $(24,437) $(4,282)
Income/(Loss) per common share
Basic $0.02 $(0.07) $(0.13) $(0.03)
Diluted $0.02 $(0.07) $(0.13) $(0.03)
Weighted average shares outstanding
Basic 198,057 170,735 191,009 151,024
Diluted 202,718 170,735 191,009 151,024
AEMETIS, INC.
CONSOLIDATED CONDENSED BALANCE SHEETS
(unaudited, in thousands)
As of December 31
2013 2012
Assets
Current assets:
Cash and cash equivalents $4,926 $291
Accounts receivable 2,765 1,360
Inventories 4,097 4,556
Prepaid and other assets 919 638
Total current assets 12,707 6,845
Property, plant and equipment, net 78,928 83,894
Goodwill, intangible and other assets 5,507 6,133
Total assets $97,142 $96,872
Liabilities and stockholders' equity/(deficit)
Current liabilities:
Accounts payable 9,366 15,070
Current portion of long term debt, notes and working capital 17,966 34,524
Mandatorily redeemable Series B convertible preferred stock 2,539 2,437
Other current liabilities 6,246 5,804
Total current liabilities 36,117 57,835
Total long term debt 73,792 35,522
Stockholders' equity/(deficit):
Series B convertible preferred stock 2 3
Common stock 200 180
Additional paid-in capital 84,193 75,458
Accumulated deficit (94,246) (69,808)
Accumulated other comprehensive loss (2,916) (2,318)
Total stockholders' equity/(deficit) $(12,767) $3,515
Total liabilities and stockholders' equity/(deficit) $97,142 $96,872
RECONCILIATION OF ADJUSTED EBITDA TO NET INCOME/(LOSS)
(unaudited, in thousands)
Three Months Ended Years Ended
December 31 December 31
2013 2012 2013 2012
Net Income/(loss)
$3,258 $(12,243) $(24,437) $(4,282)
Adjustments:
Interest and amortization expense 5,484 5,011 24,529 17,658
Depreciation expense 1,165 1,066 4,636 3,042
Extinguishment of debt - - 3,709 9,069
Income tax expense/(benefit) - - 6 (1,801)
Gain on bargain purchase - - - (42,336)
Total adjustments 6,649 6,077 32,880 (13,648)
Adjusted EBITDA $9,907 $(6,166) $8,443 $(17,930)
PRODUCTION AND PRICE PERFORMANCE
(unaudited)
Three months ended For years ended
December 31 December 31
2013 2012 2013 2012
Ethanol
Gallons Sold (in 000s) 15,927 11,429 42,390 53,038
Average Sales Price/Gallon $2.46 $2.56 $2.62 $2.50
WDG
Tons Sold (in 000s) 110 89 301 380
Average Sales Price/Ton $103 $110 $100 $103
Biodiesel
Metric tons sold 794 2,003 19,354 4,127
Average Sales Price/Metric ton $968 $927 $929 $1,158
Refined Glycerin
Metric tons sold 1,448 743 4,913 2,280
Average Sales Price/Metric ton $973 $933 $940 $981
aemetis.com
Aemetis, Inc.
Media Contact:
Douglas Denhartog, (408) 213-0938
ddenhartog@aemetis.com
or
Investor & Analyst Contact:
Todd Waltz, (408) 213-0925
twaltz@aemetis.com
AMTX.. $0.68.. I'm sure late to this RODEO but I bought a starter position today.. Son of PEIX..?? hank
Aemetis, Inc. Reports Record Fourth Quarter and Year-End 2013 Financial Results
Business Wire - Mar 18 08:45 EDT
Alert hits:/am
Company Symbols: OTC-PINK:AMTX
Record quarterly gross profit, operating income and adjusted EBITDA
Record annual gross profit, operating income and adjusted EBITDA
$4.9 million of cash as of December 31, 2013
Paid more than $12.0 million of principal and interest on debt during 2013 and during the first quarter of 2014
CUPERTINO, Calif.--(BUSINESS WIRE)-- Aemetis, Inc. (OTC.QB: AMTX), the largest producer of biofuels in California and the largest US-owned biofuels producer in Asia, today announced its financial results for the three- and twelve-months ended December 31, 2013.
“Our fourth quarter 2013 results reflect a year of record financial performance and significant progress for Aemetis,” said Eric McAfee, Chairman and CEO of Aemetis, Inc. “During 2013, we diversified our feedstock. After retrofitting and restarting our plant in May 2013, we processed about 84 million pounds (42,000 tons) of grain sorghum; became the first US ethanol plant approved by the EPA to produce lower-carbon, higher-value Advanced Biofuels (and to receive D5 RINs) using sorghum/biogas/CHP; and upgraded our India plant by constructing and commissioning a biodiesel distillation unit. These efforts translated into record levels of revenue from our India operations, and company-wide records for operating income and Adjusted EBITDA,” added McAfee.
Financial Results for the Three Months Ended December 31, 2013
Revenues were $54.1 million for the fourth quarter of 2013, compared to $47.2 million for the fourth quarter of 2012. The increase in revenues was primarily attributable to an increase ethanol production by consistently operating the Keyes plant above nameplate capacity.
Gross profit was a record $11.3 million for the fourth quarter of 2013, compared to a gross loss of $2.4 million in the fourth quarter of 2012. The improvement in gross profit was driven by significantly improved production margins.
Selling, general and administrative ("SG&A") expenses were $3.2 million in the fourth quarter of 2013, compared to $4.7 million in the fourth quarter of 2012. The decrease in SG&A expenses was primarily attributable to one-time financial advisory service fees during the fourth quarter of 2012.
Operating income for the fourth quarter of 2013 was a record $8.0 million, compared to an operating loss of $7.2 million for the same period in 2012.
Net Income for the fourth quarter of 2013 was $3.3 million, compared to a loss of $12.2 million for the fourth quarter of 2012.
Adjusted EBITDA for the fourth quarter of 2013 was a record $9.9 million, compared to Adjusted EBITDA of negative $6.2 million for the same period in 2012.
“We paid more than $12.0 million of principal and interest on debt during 2013 and during the first quarter of 2014. This debt reduction lowers our interest costs each month and increases shareholder equity. In addition to the pay down of debt using positive cash flow from operations, we have ongoing debt reduction and refinance activities underway that we believe will further lower the interest costs incurred by the company and support increased profitability in the future,” said Todd Waltz, EVP and CFO of Aemetis.
Financial Results for the Year Ended December 31, 2013
For the full year 2013, revenues were $177.5 million, compared to $189.0 million for the 2012 year. The decrease in revenues was attributable to the idling of our ethanol plant for approximately three months during Q1 and Q2 2013. While idled, the plant was retrofitted to process grain sorghum (qualifying for Advanced Biofuels D5 RINs). The plant was restarted in May 2013.
Gross profit was a record $18.3 million for 2013, compared to a gross loss of $8.9 million for 2012. Operating income for 2013 was a record $2.5 million, compared to an operating loss of $21.2 million for the same period in 2012, representing an improvement of $23.7million year-over-year. Net loss for the full year 2013 was $24.4 million, compared to a loss of $4.3 million for the same period in 2012.
Adjusted EBITDA for the full year 2013 was a record $8.4 million, compared to Adjusted EBITDA of negative $17.9 million for the same period in 2012.
NON-GAAP FINANCIAL INFORMATION
We have provided non-GAAP measures as a supplement to financial results based on GAAP. A reconciliation of the non-GAAP measures to the most directly comparable GAAP measures is included in the accompanying supplemental data. Adjusted EBITDA is defined as net income/(loss) plus (to the extent deducted in calculating such net income) interest (income)/expense, income tax (benefit)/expense, depreciation and amortization, (gain)/loss on bargain purchase and (gains)/losses resulting from debt extinguishment.
Adjusted EBITDA is not calculated in accordance with GAAP and should not be considered as an alternative to net income/(loss), operating income/(loss) or any other performance measures derived in accordance with GAAP or to cash flows from operating, investing or financing activities as an indicator of cash flows or as a measure of liquidity. Adjusted EBITDA is presented solely as a supplemental disclosure because management believes that it is a useful performance measure that is widely used within the industry in which we operate. In addition, management uses Adjusted EBITDA for reviewing financial results and for budgeting and planning purposes. EBITDA measures are not calculated in the same manner by all companies and, accordingly, may not be an appropriate measure for comparison.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
This news release contains forward-looking statements, including statements regarding our assumptions, projections, expectations, targets, intentions or beliefs about future events or other statements that are not historical facts. Forward-looking statements in this news release, include without limitation, statements regarding our ability to leverage approved feedstock pathways; our ability to refinance our debt, further reduce our interest costs and increase profitability; and our ability to continue to fund operations with cash from operations. Words or phrases such as “anticipates,” “may,” “will,” “should,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “targets,” “will likely result,” “will continue” or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on current assumptions and predictions and are subject to numerous risks and uncertainties. Actual results or events could differ materially from those set forth or implied by such forward-looking statements and related assumptions due to certain factors, including, without limitation, competition in the ethanol and other industries in which we operate, commodity market risks including those that may result from current weather conditions, financial market risks, counter-party risks, risks associated with changes to federal policy or regulation, risks associated with the conversion of the Keyes plant to the use of sorghum for ethanol production; and other risks detailed in our reports filed with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2013, and in our subsequent filings with the SEC. We are not obligated, and do not intend, to update any of these forward-looking statements at any time unless an update is required by applicable securities laws.
About Aemetis
Headquartered in Cupertino, California, Aemetis is an advanced fuels and renewable chemicals company that was founded in 2006. Aemetis owns and operates a 55 million gallon ethanol and 420,000 ton animal feed plant in California that is the first upgraded facility approved by the EPA to produce D5 Advanced Biofuels using the milo/biogas/CHP pathway. Aemetis also built, owns and operates a 50 million gallon capacity renewable chemicals and advanced fuels production facility on the East Coast of India producing high quality, distilled biodiesel and refined glycerin for customers in Europe and Asia. Aemetis operates a research and development laboratory at the Maryland Biotech Center, and holds five granted patents on its Z-microbe and related technology for the production of renewable fuels and biochemicals. For additional information about Aemetis, please visit aemetis.com.
(Tables follow)
AEMETIS, INC.
CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS
(unaudited, in thousands except per share data)
Three months ended Years ended
December 31 December 31
2013 2012 2013 2012
Revenues $54,053 $47,164 $177,514 $189,048
Cost of goods sold 42,793 49,549 159,220 197,975
Gross profit/(loss) 11,260 (2,385) 18,294 (8,927)
Research and development expenses 71 136 539 621
Selling, general and administrative expenses 3,197 4,687 15,275 11,613
Operating income/(loss) 7,992 (7,208) 2,480 (21,161)
Other income/(expense)
Interest and amortization expense (5,394) (5,011) (24,275) (17,658)
Loss on debt extinguishment - - (3,709) (9,069)
Other income/(expense) 660 (24) 1,073 42,523
Income/(loss) before income taxes 3,258 (12,243) (24,431) (5,363)
Income benefit/(expense) - - (6) 1,081
Net income/(loss) $3,258 $(12,243) $(24,437) $(4,282)
Income/(Loss) per common share
Basic $0.02 $(0.07) $(0.13) $(0.03)
Diluted $0.02 $(0.07) $(0.13) $(0.03)
Weighted average shares outstanding
Basic 198,057 170,735 191,009 151,024
Diluted 202,718 170,735 191,009 151,024
AEMETIS, INC.
CONSOLIDATED CONDENSED BALANCE SHEETS
(unaudited, in thousands)
As of December 31
2013 2012
Assets
Current assets:
Cash and cash equivalents $4,926 $291
Accounts receivable 2,765 1,360
Inventories 4,097 4,556
Prepaid and other assets 919 638
Total current assets 12,707 6,845
Property, plant and equipment, net 78,928 83,894
Goodwill, intangible and other assets 5,507 6,133
Total assets $97,142 $96,872
Liabilities and stockholders' equity/(deficit)
Current liabilities:
Accounts payable 9,366 15,070
Current portion of long term debt, notes and working capital 17,966 34,524
Mandatorily redeemable Series B convertible preferred stock 2,539 2,437
Other current liabilities 6,246 5,804
Total current liabilities 36,117 57,835
Total long term debt 73,792 35,522
Stockholders' equity/(deficit):
Series B convertible preferred stock 2 3
Common stock 200 180
Additional paid-in capital 84,193 75,458
Accumulated deficit (94,246) (69,808)
Accumulated other comprehensive loss (2,916) (2,318)
Total stockholders' equity/(deficit) $(12,767) $3,515
Total liabilities and stockholders' equity/(deficit) $97,142 $96,872
RECONCILIATION OF ADJUSTED EBITDA TO NET INCOME/(LOSS)
(unaudited, in thousands)
Three Months Ended Years Ended
December 31 December 31
2013 2012 2013 2012
Net Income/(loss)
$3,258 $(12,243) $(24,437) $(4,282)
Adjustments:
Interest and amortization expense 5,484 5,011 24,529 17,658
Depreciation expense 1,165 1,066 4,636 3,042
Extinguishment of debt - - 3,709 9,069
Income tax expense/(benefit) - - 6 (1,801)
Gain on bargain purchase - - - (42,336)
Total adjustments 6,649 6,077 32,880 (13,648)
Adjusted EBITDA $9,907 $(6,166) $8,443 $(17,930)
PRODUCTION AND PRICE PERFORMANCE
(unaudited)
Three months ended For years ended
December 31 December 31
2013 2012 2013 2012
Ethanol
Gallons Sold (in 000s) 15,927 11,429 42,390 53,038
Average Sales Price/Gallon $2.46 $2.56 $2.62 $2.50
WDG
Tons Sold (in 000s) 110 89 301 380
Average Sales Price/Ton $103 $110 $100 $103
Biodiesel
Metric tons sold 794 2,003 19,354 4,127
Average Sales Price/Metric ton $968 $927 $929 $1,158
Refined Glycerin
Metric tons sold 1,448 743 4,913 2,280
Average Sales Price/Metric ton $973 $933 $940 $981
aemetis.com
Aemetis, Inc.
Media Contact:
Douglas Denhartog, (408) 213-0938
ddenhartog@aemetis.com
or
Investor & Analyst Contact:
Todd Waltz, (408) 213-0925
twaltz@aemetis.com
Thank's for the advice .. I really forgot about that after just 53 Years of trading,, BTW most was on or around OTC trading desks on Wall Street.. hank
But ,, But they have'nt but doubled the shares in 3 mos.. Thats true and that was prob done below $0.001 so they have plenty of room to continue hitting bids to get the stock down to reload..
The buyers as before will make great posts but the deck chairs as on the Titantic will again be filled with newbees wanting to believe that this Dilution machine is worth much more..
Soon as before they will become discouraged and figure out the game plan of the converters and be hoping to just break even.. Yesterdays action was typical as support ponts break and ACGX trades again with lower lows and lower highs from the last P&D..
It's a pattern demonstrated by charts over and over again.. Wash and rinse and wash again.. But one thing is for sure and that is the new buyers have removed the last group of dreamers along with some of the converters shares sitting in inventory waiting to be sold .. How much they have left of the shares that were issued that doubled the sharecount is anyones guess but they will now as before use those shares to get the price lower to convert more shares for the next P&D PR post..
It's about now that we will start hearing about the shorts.. There are none as most are taken care of with after market crosses..
Some think I'm bittered by losses,, yes at first but since I've got the gameplan figured out it's been very profitable during the past 6 Mo's.. I always seem to leave too much on the table because it still amazes me how many fish may be put in to each barrell of pump.. Look at the past Pumpers and ask yourself why are they gone..?? Seeya at $0.0018.. hank
The converters are selling..It appears that the buyers have been filled and lower prices are ahead.. Look for trading below $0.002 long before seeing the $0.004's again.. The converters are back in control and looking for an Opp. to reconvert at present shareholders expense.. There are no bids below $0.003 on the level 2 system..
Hank
ACGX.. $0.0032.. Lets set the record straight.. The number of shares have doubled in the bast 4 Months thru coversion..
Just because the shares have been converted that doesn't mean that they have been sold.. Since the only way you know that shares have been sold is if the shares outstanding have gone up thru additional conversions allowing the sellers to recovert as long as thier share ownership never exceeds 9.9% as discribed in the 10K's.. ... It is very possible that the shares coming to market at present could be shares that were converted at $0.0008 because the stock was trading at $0.001..
Just because they convert doesn't mean a thing about sales and as in the past few days they have ALWAYS used the opp. to sell after BS PR's or P&D's.. After each blip with volume the stock falls back thru selling and unless there is an opp. for the converters to bring it lower to reconvert don't think they are not selling just because the shares count never went up.. They wear out each new group of believers and continue to sell while they distroy the portfolios of the Newbees until they get thier way and the stock becomes low enough to convert and wash and rinse all over again.. They sell but it could be on conversions made months or even years ago..
And because each new group suckered in can't believe it's selling they consider anyone with a negative point of view a basher.. Thats ok because of the PM's I recieve of thanks for saving them money when they just even break eaven or participate on Uptic Blips of high posting days..hank
You misread what I posted so I will try again..
SSILC.. $69.45.. Silicom Announces $1.00/Share Dividend in Respect of Its 2013 Results
KFAR SAVA, Israel--(BUSINESS WIRE)-- Silicom Ltd. (NASDAQ:SILC) (TASE:SILC) today announced that its Board of Directors has declared a cash dividend in the amount of US $1.00 per share in respect of its 2013 results, representing an aggregate distribution of approximately US $7.2 million. The dividend will be paid on April 17, 2014 to all shareholders of record at the close of the NASDAQ Global Select Market on April 3, 2014.
“We are pleased to announce our second yearly dividend, a step we are taking to directly share our success with, and create additional value for, our shareholders,” stated Shaike Orbach, Silicom’s President and CEO. “The declaration of this dividend is in accordance with the dividend policy that we announced in January 2013 and follows the completion of another outstanding year for Silicom, which has enabled us to maintain a strong cash balance while continuing to expand the business.”
##
About Silicom
Silicom Ltd. is an industry-leading provider of high-performance networking and data infrastructure solutions. Designed primarily to increase data center efficiency, Silicom’s solutions dramatically improve the throughput and availability of networking appliances and other server-based systems.
Silicom’s products are used by a large and growing base of OEM customers, many of whom are market leaders, as performance-boosting solutions for their offerings in the Application Delivery, WAN Optimization, Security and other mission-critical segments within the fast-growing virtualization, cloud computing and big data markets. Silicom’s product portfolio includes multi-port 1/10 Gigabit Ethernet server adapters, Intelligent Bypass solutions, Encryption accelerators and a variety of innovative Smart adapters. These products are available for incorporation directly into our OEM customers' systems, or provided as part of Silicom’s patented SETAC (Server To Appliance Converter), a unique approach to the provision of high quality standard platforms with modular front connectivity.
For more information, please visit: www.silicom.co.il.
Statements in this press release which are not historical data are forward-looking statements which involve known and unknown risks, uncertainties, or other factors not under the Company's control, which may cause actual results, performance, or achievements of the Company to be materially different from the results, performance, or other expectations implied by these forward-looking statements. These factors include, but are not limited to, those detailed in the Company's periodic filings with the Securities and Exchange Commission. The Company disclaims any duty to update such statements.
Company Contact:
Eran Gilad, CFO, Tel: +972-9-764-4555
Silicom Ltd.
E-mail: erang@silicom.co.il
or
Investor relations contact:
Kenny Green / Ehud Helft, Tel: +1 646 201 9246
CCG Israel Investor Relations
E-mail: silicom@ccgisrael.com
Source: Silicom Ltd.
read the last 10K and see how much debt is owed after Golden is done and you will see it 3X the Golden Debt from a former company owened by ACGX that they gave away with the stroke of a pen W/O any compensation to ACGX.. If you keep buying the converters will let you move it up but when you stop.. Wlich is right about now..
Check the time of this post and when the selling starts..
SPLAT !!!!!
SPLAT !!!!!
SPLAT !!!!!
SPLAT !!!!!
SPLAT !!!!!
Thier sales are smaller than the typical Halmark store at any large Mall.. Thier sales have been almost flat for 5 years and earnings during that period nave almost been flat.. The only thing that goes up is the share amount.. Keep buying and the converters will keep selling..
STOP BUYING AND THEY WILL HIT BIDS AS THEY DID YESTERDAY AND ANY PREVIOUS DAY WHEN THE STOCK GAPPED UP.. HOLD YOUR BUYING POWER AND YOU WILL BE ABLE TO BUY AT $0.002 OR LOWER AS THATS WHERE THEY WILL RELOAD FOR THE NEXT PUMP AND DUMP.....hank
The PROVEN FACT is that the Shares have gone from 8.5 Million Shares to over 525 Million in the past 2 years and at that rate the shares could increase to 30,882,000,000in the next 2 years.. This is a dilution POS run by crooks to line thier own pockets.. It has taken some just longer to figure it out than others.. When Golden is done converting look at the latest 10K to see who is next with more.. Those are the real facts..
Listed TSX Venture Exchange
Symbol EIL
52 Week range
$0.035 - $0.12
Market Capitalization
$25.3 million ($0.10 Jan 24, 2014)
Shares Outstanding,,253,239,608
Board of Directors
Guy Nelson, MBA
Executive Chairman and CEO, Empire Industries Ltd.
Ian Macdonald, MBA, CA
Non-executive Chairman, Empire Industries Ltd.,
Managing Director of Tricapital Management Ltd.
Campbell McIntyre, CA
President, Empire Iron Works
Bob Marshall, P.Eng.
Construction industry executive
Terry Quinn
Oil & Gas industry consultant
Bruce Jackson, P.Eng.
Former president, Dynamic Structures
Jane Lin
Information Technology executive
Jack Chang
Financial Services advisor
Officers
Guy Nelson, BComm, MBA
Executive Chairman and CEO
Allan Francis, LLB, MBA
Vice President – Corporate Affairs and Administration
Michael Martin, CA
Chief Financial Officer
Corporate Services
Bank: Canadian Imperial Bank of Commerce
Auditors: MNP LLP
Legal Counsel: Carscallen LLP
Transfer Agent: Canadian Stock Transfer Company
Selected Recent Announcements
(see www.empind.com for more details)
January 23, 2014
Announces Executive Chairman, Non-Executive Chairman appointments
January 15, 2014
Reports $25 million in Contract Awards in U.A.E.
November 26, 2013
Reports Third Quarter Results
November 1, 2013
Announces New $13.5 million Senior Debt facility with CIBC Data as of January 24, 2014
717 Jarvis Avenue
Winnipeg, MB
R2W 3B4
For further information, contact:
Allan Francis, VP Corporate Affairs
(204)-589-9301
afrancis@empind.com
Empire operates in 3 market segments:
Media Based Attractions
(in 000’s except for per share amounts)
• Dynamic Structures: designs and manufactures
complex ride systems for established theme
park owners around the world.
• Dynamic Attractions: turn key integrator of
premium media-based entertainment
attractions, and provider of parts and service for
theme park attractions.
• Key products: Flying Theatres, Roller Coasters, Automatically Guided Vehicle (AGV) attractions,
Dark Rides.
Manufactured Products
(in 000’s except for per share amounts)
• Petrofield Industries: manufactures hydrovac
trucks for excavation service providers,
primarily in the oil and gas industry.
Steel Fabrication Services
(in 000’s except for per share amounts)
• Empire Iron Works: structural steel fabrication
and installation.
• Parr Metal Fabricators: Speciality carbon and
stainless steel fabrication, such as tanks and
pressure vessels.
• ACE Industrial Services: Aboriginally controlled partnership in Fort McMurray, AB. 51% owned
by the Athabasca Chipewyan First Nation, through ACDEN Ltd. and 49% by Empire. Provides
multi-trade industrial maintenance services, steel fabrication and erection, and machining
services primarily to the oil sands market.
• Dongguan Qiguang Dynamic Steel Structures Ltd.: 55% owned by our Chinese partner and 45%
by Empire. This Chinese company fabricates and installs complex structural steel projects in
China. We are developing the capabilities of this company to allow it to export fabricated steel
into North America as part of our global steel supply chain.
YTD
Sept 30, 2013
Sales $48,791
EBITDA $3,227
Net Income (pre tax) $2,602
YTD
Sept 30, 2013
Sales $19,229
EBITDA $1,900
Net Income (pre tax) $1,502
YTD
Sept 30, 2013
Sales $18,280
EBITDA $(1)
Net Income (pre tax) ($375)
Data as of January 24, 2014
JGPK.. $0.80.. Jagged Peak Announces Fiscal 2013 Financial Results
Net Revenues Increased 28% to $47.5 Million
JGPK.. $0.80.. TAMPA, Fla., March 18, 2014 (GLOBE NEWSWIRE) -- Jagged Peak, Inc. (OTCBB:JGPK), a leading provider of enterprise-class e-commerce solutions and supply chain services, today announced financial results for the fiscal year ended December 27, 2013.
52-Week Period Ended December 27, 2013 Highlights:
Total revenue for the 52-week period increased 28% to $47.5 million, as compared to $37.2 million for the same period last year.
Adjusted EBITDA for the 52-week period increased to $2.4 million, as compared to $1.8 million for the same period in 2012.
Net income for the 52-week period increased to $847 thousand, as compared to $533 thousand for the same period last year.
In March 2013, Jagged Peak amended its Senior Credit Facility with Fifth Third Bank to reduce its interest rate to LIBOR plus 2.5%.
In August 2013, Jagged Peak increased the borrowing capacity on its Senior Credit Facility with Fifth Third Bank to $5.0 million.
Revenues increased $10,249,100, or 28%, to $47,481,800 for the 52-week period ended December 27, 2013, as compared to $37,232,700 for the 52-week period ended December 28, 2012. Greater e-commerce order processing resulted in increases in both technology and fulfillment service revenues. Revenues from implementation of new client sites and on-going development for existing clients were consistent across these periods.
Cost of revenue, which consists primarily of labor, fulfillment operations and facilities costs, increased by $8,451,900, or 29%, to $38,019,300 for the 52-week period ended December 27, 2013, as compared to $29,567,400 for the 52-week period ended December 28, 2012. As a percentage of revenue, cost of revenue was 80% for the 52-week period ended December 27, 2013, as compared to 79% for the 52-week period ended December 28, 2012. This increase is primarily related to the increase in fulfillment employees needed to manage order growth.
Selling, general and administrative expense increased by $1,328,300, or 21%, to $7,746,400 for the 52-week period ended December 27, 2013, as compared to $6,418,100 for the 52-week period ended December 28, 2012. This increase was primarily related to increases in staff costs due to additional employees needed to grow client support teams.
Interest expense decreased by $74,600 to $207,000 for the 52-week period ended December 27, 2013, as compared to $281,600 for the 52-week period ended December 28, 2012. The decrease in interest expense is a result of lower interest rates for the Fifth Third Bank Facility which replaced the more expensive Moriah Loan in March 2012.
Income tax expense was $573,800 for the 52-week period ended December 27, 2013 compared to an income tax expense of $428,000 for the 52-week period ended December 28, 2012. Differences between the taxable income and the effective tax rate used for 2013 and 2012, as compared to the U.S. federal statutory rate, are primarily due to permanent differences and taxes on foreign operations. As of December 27, 2013, the Company had U.S. (federal and state) net operating loss carry forwards of $1,073,400 to reduce future taxable income, which will expire between 2027 and 2031. The Company also has a Canadian net operating loss carry forward of $1,106,600 which does not begin to expire until 2029.
Management believes there will be sufficient future earnings to support the more than likely realization of deferred tax assets in excess of existing taxable temporary differences. The amount of deferred tax assets considered realizable, however, could be reduced in the near-term if estimates of future taxable income are reduced.
The Company realized net income of $847,300 for the 52-week period ended December 27, 2013, compared with net income of $533,400 for the 52-week period ended December 28, 2012, an increase of 59%.
Basic income per share from continuing operations for the 52-week period ended December 27, 2013 was $0.05 per weighted average share, compared with basic income of $0.03 per weighted average share for the 52-week period ended December 28, 2012.
Adjusted EBITDA for the 52-week period ended December 27, 2013 was approximately $2,436,200 compared to approximately $1,773,600 for the 52-week period ended December 28, 2012. The increase in the Adjusted EBITDA primarily relates to the increase in sales from greater e-commerce order processing, improved operating margins from improved management of administrative operations, and lower borrowing costs. These improvements were partially offset by higher staff related costs of client support teams. The Company defines Adjusted EBITDA as earnings before interest, taxes, and depreciation and amortization, and non-cash compensation expense. The Company believes Adjusted EBITDA is a useful measure of operating performance before the impact of investing and financing transactions, making comparisons between companies' earnings power more meaningful and providing consistent comparisons of the Company's performance. To provide consistent comparisons of year-over-year Adjusted EBITDA, the following reconciliation is provided:
For the 52-weeks ended
December 27,
2013 December 28,
2012
Net income (loss) as reported $ 847,300 $ 533,400
Income tax expense (benefit) 573,800 428,000
Interest expense 207,000 281,600
Depreciation and amortization 694,100 455,400
Non-cash compensation expense 114,000 75,200
Adjusted EBITDA $ 2,436,200 $ 1,773,600
"I am very pleased with our 2013 results and want to thank our employees for their hard work and dedication, as well as our customers for entrusting us with their business," says Chief Executive Officer Paul Demirdjian. "Our revenue grew 28%. We continued to successfully deliver cloud-based e-commerce solutions. And, we further enriched our distributed order management capabilities for our multi-channel retail clients, adding a Vendor Drop Ship Portal, deep Cross-Channel Analytics, and expanded our support for mobile commerce sites utilizing responsive design and adaptive delivery. As a result, some of the top brands in e-commerce selected Jagged Peak for their omnichannel retail needs. We continue to see robust demand for our products and services throughout North America as well as opportunities in Europe and Asia."
"2013 reflects another year where we have demonstrated the ability to profitably increase revenue as well as invest in our infrastructure to support the continued growth of the e-commerce solutions we have deployed," says Chief Financial Officer Albert Narvades. "Increases in our cash flows have allowed us to invest in our technology and grow our client support teams. We will continue to focus on controlled profitable growth as we head into 2014."
Forward-Looking Statements
This earnings release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve risks and uncertainties. Factors that could cause actual results to differ materially from those predicted in any such forward-looking statement include our ability to continue to lower our costs, our timely development and customers' acceptance of our products, including acceptance by key customers, pricing pressures, rapid technological changes in the industry, growth of the market, increased competition, our ability to attract and retain qualified personnel, adverse changes in general economic conditions in the U.S. and internationally, risks associated with foreign operations and political and economic uncertainties associated with current world events. These and other risks are detailed from time to time in the Jagged Peak, Inc. periodic reports filed with the Securities and Exchange Commission, including, but not limited to, its report on Form 10-K for its fiscal year ended December 27, 2013.
About Jagged Peak
Jagged Peak is a leading e-commerce solutions provider with software and services that enhance the scalability, flexibility and profitability of multi-channel online businesses. Its cornerstone technology is EDGE---an enterprise-class e-commerce platform that includes a full-featured e-commerce Platform (ECP) and robust Order Management System (OMS) as well as a Warehouse Management System (WMS) and Transportation Management System (TMS). These platform elements can be deployed alone or together through a license or SaaS delivery model to form an end-to-end, Cloud-based software suite that integrates the entire order life cycle with visibility across business units, distribution channels and trading partners---all while enabling the client to have complete control of its online brand. Combining its technology with a comprehensive array of eMarketing, customer support and IT professional services along with "anytime, anywhere" order fulfillment through its FlexNet warehouse network, Jagged Peak offers a rare and uniquely holistic approach to e-commerce. Jagged Peak's blue chip client roster includes numerous global consumer brand companies. For more information, please visit www.jaggedpeak.com.
© Copyright 2014, Jagged Peak. All rights reserved.
CONTACT: Investor Relations
Albert Narvades
CFO
Jagged Peak, Inc.
3000 Bayport Drive, Suite 250
Tampa, FL 33607
813-637-6900 Ext 225
Media Contact
Marjorie Bulone
Director of Marketing
Jagged Peak, Inc.
3000 Bayport Drive, Suite 250
Tampa, FL 33607
Source: Jagged Peak, Inc.
Stop,,Think,, Learn and Listen...
If you believe it's at your portfolio's harm,, not mine.. I heard the same crap when there were but 8.5 Million shares out just 2 years ago and they were projecting $0.12 EPS and the stock sold at $0.0175.. If they have the money in the bank to pay off the debt.. ?? why don't they..
Because without the debt how else can they continue to dilute to line thier pockets.. Controlled Dillution is what you saw today and with the volume it's back down,, not to give you a better buy point but themselves.. At today's close they can convert at $0.0018.. I don't think they will ever give up those odds with willing suckers on the hook believing this stock sells dirt cheap and are willing to pump it to the moon...
If this company was a POS as a company they could not get away with it but as long as people think a stock that goes from 8.5 Mil to over 500 Mil in shares is still cheap,, they will also believe the same at 2 or 3 billion..
These guy's have no reason not to tell the truth,, because it makes them look liget,, regardless how many shares are out.. They still control regardless of how many you buy as long as they own ONEshare of the preferred because it is the only stock with voting rights.. If they reverse and do it all over again they can just as they recently have done just with the stroke of a pen double or even give themselves millions of shares to start all over again and back to 8.5 million shares outstanding without any compensation to any shareholder.. ..
Wash and rinse,, To today's nebees You have been screwed by the best .. Others will just say I'm bashing W/O ever reading my last 25 posts.. GLTA .. hank
that's because they are a printing company and they print stock.. Congrats to all that sold above $0.005 before the Converters Started selling.. How many shares outstanding,,?? Don't just look at yearend numbers that hide the real truth.. Did they take questions or did they cherry pick the ones they wanted two.. My question was why did they give the President conversion rights to double his shares at a stroke of the pen w/o any compensation to the company..?? Did it get asked..?? Was it aked where are the last updated shares and why with all the money in the Mirror bank can't they just pay off thier debt so conversions stop..?? Answer is because they convert to fund thier own pockets and as today when ever there is a release the converters come out to play..
Remember just 2 years ago there were only 8.5 million shares outstanding and Sorkin promised no dilution because with $0.12 EPS who would sell at $0.01675..?? He Lied then and now with over 500,000,000 shares outstanding the party line is controlled dilution.. Yep,,today was a good eample. hank..???
And some post stop selling,, It's not the board but the converters..?? Hasn't anyone but B L U E figured that out yet..??
If facts don't work here is how you baffel them with BS..
Trying to figure out what this PR says will challenge not only your mind but is an odds on favorite to damage your portfolio.. hank
EPIC Declares Stock Dividend for Its Series A Preferred Stock, and EPIC Changes Exchange Rate From 3 to 1.5 Shares of EPIC's Common Stock for 1 Share of EPIC's Series A 5% Cumulative Convertible Preferred Stock
Marketwire - Mar 18 09:15 EDT
Alert hits:EDG All SMA End
Company Symbols: OTC-PINK:EPOR
AUSTIN, TX -- (Marketwired) -- 03/18/14 -- EPIC Corporation (PINKSHEETS: EPOR) ("EPIC"), and Ronald S. Tucker, EPIC's president, announced "EPIC's board of directors has declared a stock dividend on its Series A 5% Convertible Preferred Stock for the periods ending June 30, September 30, and December 31, 2013, to preferred shareholders as of December 20, 2013. The board also declared a stock dividend for the shareholders of the preferred stock of record on March 28, 2014 and June 25, 2014, for the periods of March 31, and June 30, 2014. In furtherance of EPIC's efforts to attract new investors to a significantly undervalued stock, the board has approved an offer, as of March 31, to exchange 1.5 shares of EPIC's common stock for 1 share of EPIC's $1 face value Series A 5% Convertible Preferred Stock ('Preferred Stock')."
The Exchange Offer is made subject to the following terms and conditions:
1. The Exchange Offer is only made to shareholders with shares of common stock held in broker/dealer accounts of record through June 30, 2014;
2. The shareholder must offer to exchange not less than 18,000 shares;
3. The exchanges are to be made by a Notice of Exchange provided by EPIC through the shareholders' Broker/Dealers from March 31, 2014, through June 30, 2014;
4. The Notice of Exchange and shares to be canceled are to be submitted to EPIC's transfer agent, Corporate Stock Transfer;
5. EPIC reserves the right to reject the Notice of Exchange and to limit the number of shares to be exchanged in the absolute discretion of EPIC;
6. The exchanged Preferred Stock will be delivered within 5 business days of acceptance by EPIC and delivered for inclusion in the shareholders brokerage account; and
7. Preferred Shares issued prior to June 30, 2014, may not be converted until on or after July 1, 2014.
The status of the Preferred Stock and the common shares in which the Preferred Stock can be converted will be without restriction or legend condition. The Preferred Stock may or may not require the filing of a Section 15(c)(2)(11) of the Securities Exchange Act of 1934, as amended, to be traded.
EPIC's $1 face value Series A 5% Convertible Preferred Stock provides as follows. The 5% dividend is to be paid quarterly and can be paid in cash or in common stock of the Company at the discretion of the Company, or it can be accumulated and the Company can declare an accumulated dividend at a 25% discount from the ratio of the total value of shares traded to total volume traded ("VWAP," value-weighted average price) 10 days prior to the date of record, but not less than $0.10 per share. The Preferred Stock Shareholder can convert the face value of the preferred shares at a 65% discount from the VWAP traded 10 days prior to the date the written notice is received but no less than $0.30 per share and no higher than $1.00 per share. The number of shares declared in a stock dividend shall equal the 5% dividend rate of $1 per share divided by a 25% discount from the VWAP per share for the 5 trading days before the declaration date and the next 5 five trading days after the declaration date, but not less than $0.10 per share. In the event of liquidation preference, price will be $3 per share, and after 5 years from the date of issuance all or part of the Preferred Stock may be redeemed by the company for $10 per share. Click here to download a complete copy of the Description of the Preferred Stock.
Shareholders that purchase common shares at $0.10, $0.20, $0.30 and $0.40 per share on conversion will have an unrealized Rate of Return on Investment of 444.4%, 333.3%, 296.27% and 277.75% respectively, with a $0.10 increase above the purchase price. A 5% dividend on the purchase price of $0.10, $0.20, $0.30 and $0.40 per share based on $1 give a Yield of 33.33%, 16.67%, 11.11% and 8.83%, respectively. If the Preferred Stock is converted and sold at a market price of $1 per share the rate of return is 2,222%, 1,111%, 740.67% and 555.5%, respectively, based on the price of the common stock being $0.10, $0.20, $0.30 and $0.40 per share.
EPIC's primary motivation is to provide investors with capital growth through an investment in EPIC and through EPIC strategic relationships and joint ventures. EPIC is able to achieve this with limited capital, due to its efficient use of its capital.
EPIC's business is simple. It is to build and provide a return of capital to its shareholders. It does this by entering into joint ventures or strategic relationships with qualified companies. A qualified company must have a unique product or service with significant potential, a positive net worth and is at an early stage in sales growth.
EPIC investors receive trading securities in joint venture companies through stock dividends in addition to opportunities to acquire shares at pre-market prices.
"EPIC, for more than 10 years, has been a private special purpose financial services company with a trading security. Its business is to develop joint ventures or strategic relationship with emerging growth companies and provide them with financial services that include the development of a trading security to provide investors with an exit strategy," said Mr. Tucker. "EPIC's objective is to provide its investors with capital growth and return of capital through the corporate, business and financial development of EPIC and its strategic relationships and joint ventures."
"EPIC's management has managed the company since 1997," stated Mr. Tucker. "The reorganization of EPIC's business and restructuring of its organizations and financial structures is to demonstrate the worth or true value of the company. We want to show by actions that EPIC places shareholders first. We believe what is good for our shareholders is good for us."
EPIC defines revenue as capital and revenue growth as capital growth and Epic, based on its primary purpose, has obtained sustainable growth of capital with limited but efficient use of capital. As Porter Stansberry wrote, "[When] a business reaches a certain level of capital efficiency, the shares will soar over the long run. . . The incredible thing is . . . no matter how big or small the company is -- its shares almost always soar over the long term."
EPIC management believes EPIC's stock is positioned to soar.
About EPIC
EPIC is a private special purpose financial services company with a focus on healthcare and medical products and service companies. Visit www.epiccor.com for corporate information and http://www.otcmarkets.com/stock/EPOR/quote for investor and financial information.
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CONTACT:
Gregory Stachacz
Director of IR
Email: Email Contact
Telephone: 904-282-3093
Source: EPIC Corporation
SPIN.. $0.42..This is POS and always was a P&D.. It just proves that when it stinks the SPIN is on.. Great short.. hank
INVITRO INTERNATIONAL REPORTS IMPORTANT
FY 2013 & Q1 FY 2014 REGULATORY PROGRESS, SMALL NET PROFITS
Irvine, CA January 22, 2014 - Today InVitro International (OTC, Pink Sheets, IVRO) reported FY 2013 sales of $712,121 and net income of $10,832. When compared to FY 2012 sales and income figures, sales were off 2.4% while net income was up 430%.
IVRO CEO & President, W. Richard Ulmer, said "Despite our small net profit, and slight sales decline, we believe FY 2013 will prove to be a significant year among InVitro International's first 28. I say this because we reviewed and assembled test data from our international, three year, three laboratory, more than five hundred end point results validation study. This required study was designed in collaboration with the European Center for the Validation of Alternative Methods, (ECVAM). Results not only met our expectations, but in some ways exceeded them. Therefore in Q1 FY 2014 we submitted our application. We now await ECVAM Peer Review response with a great level of enthusiasm".
This release may contain "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties. These risks and uncertainties include, but are not limited to: acceptance of the Company's technology by customers or regulatory agencies, changes in market conditions and other competitive factors. Any such forward-looking statements are not guarantees of future performance.
CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
Three months ended
September 30
Twelve months ended
September 30
2013
2012
2013
2012
Revenues
192,896
172,260
712,121
729,780
Costs and expenses
170,547
221,284
721,572
731,791
Income (loss) from operations
22,349
(49,024)
(9,451)
(2,011)
Other income (loss)
3,571
(4,955)
20,283
4,051
Net profit (loss)
25,920
(53,979)
10,832
2,040
Other Comprehensive Income
-
-
(16,630)
18,282
Comprehensive Income
25,920
(53,979)
(5,798)
20,322
Profit (loss) per common share
0.0012
(0.0025)
0.0005
0.0001
Weighted average common
shares outstanding
21,820,072
21,565,346
21,820,072
21,565,346
CONDENSED CONSOLIDATED BALANCE SHEET
September 30, 2013
September 30, 2012
Cash, cash equivalents and marketable securities
431,115
442,573
Other current assets
231,772
223,682
Total current assets
662,887
666,255
Noncurrent assets
44,837
50,265
Total assets
707,724
716,520
Current liabilities
66,320
70,143
Shareholders' equity
641,404
646,377
Total liabilities and equity
707,724
716,520
# # #
InVitro International
17751 Sky Park East, Suite G
Irvine, CA 92614
800-2-INVITRO (800-246-8487)
949-851-8356 (International callers)
949- 851-4985 Fax
invitro@invitrointl.com
ACGX.. $0.0027.. It hasn't grown in 5 years except an explosion in shares PS.. BTW there are many stationary shops/stores that have more revenues than ACGX.. $0.0027 up..
Run rates using the higest qtrs. of the year seem not to work that well when a company doesn't continue to produce the same numbers all year.. I like earnings per share and Stkhldrs. equity per share but with ACGX and the increase in shares by 61 times plus in less than 2 years plus what ever was converted since the last released numbers it makes it hard to justify any value to ACGX above $0.001.. If it had value the Converters would not be selling and the company would be buying back the debt.. And the company always seems to know what is best for Insiders ,, especally since they give them selves share with a stroke of the pen when ever it suits thier purpose.. Example the gift for nothing to it's president of 400,000,000 more shares on coversion.. hank
Quote:
--------------------------------------------------------------------------------
your getting tired.
Your only arguments are all a stretch now.
The FACTS are this is a profitable company and is currently undervalued even fully diluted.
Oh, and is starting to realize growth....
--------------------------------------------------------------------------------
RNWEY.. $0.45... Added again.. Starting to get a nice position.. hank
RNWEY.. $0.42.. www.recsilicon.com
REC Silicon ASA : REC Silicon ASA's fourth quarter 2013 results Sandvika, February 12, 2014: REC Silicon ASA reported fourth quarter 2013 revenues from continuing operations of NOK 743 million and EBITDA from continuing operations of NOK 164 million. Net debt has been reduced to NOK 1.9 billion, down from NOK 2.6 billion in the third quarter after sale of REC Solar.
On October 25, 2013 REC Solar was sold. Revenues and EBITDA for REC Solar have been re-presented as discontinued operations.
REC Silicon US Operations reported fourth quarter revenues of NOK 752 million up from NOK 738 million in the previous quarter. EBITDA in the fourth quarter was NOK 187 million up from NOK 80 million in the previous quarter. Improvements in EBITDA can be primarily attributed to strong, stable operations resulting in higher volumes at lower cost. In addition, REC Silicon experienced increased average polysilicon selling prices and increased silicon gas sales volumes.
Despite the introduction of anti-dumping duties on solar grade polysilicon imported to China, polysilicon demand continues to strengthen and prices continue to increase.
Tore Torvund, CEO of REC Silicon ASA said, "I am pleased that our efforts to improve quality and reduce cost continue to strengthen our competitive position. Together with slightly increased demand for solar polysilicon, these efforts have led to an improvement in REC Silicon ASA's EBITDA in the last quarter."
Silicon gas sales volumes increased by 17 percent compared to the previous quarter. This increase reflects strong market demand and increased spot sales due to supply restrictions caused by recent accidents at competitor facilities.
Financial items for continuing operations were negative NOK 19 million, mainly reflecting interest expenses and fair value adjustments of the convertible bonds.
The loss from total operations was NOK 161 million in the fourth quarter, compared to a loss of NOK 1,578 million in the previous quarter. The reduced loss mainly reflects the impairments of the REC Solar disposal group at the end of the third quarter.
Basic EPS from total operations was positive NOK 0.07 in the fourth quarter 2013, compared to negative NOK 0.68 in the previous quarter.
For more information, please see the attached fourth quarter 2013 report.
Morning program:
On the release day, Tore Torvund, CEO of REC Silicon ASA will give a presentation together with other members of the management team. The presentation will take place at 08:00 hrs Norwegian time/CET at the conference centre KS Agenda in Haakon VII's gate 9, 0114 Oslo (www.ksagenda.no).
The presentation, held in English, will be broadcasted live over the internet, and can be accessed from: www.recsilicon.com.
It will also be possible to listen to the presentation through a conference call. Please make sure to dial in 10 minutes prior to scheduled start time on one of the following numbers:
Norway Toll Free: 800 56 053
UK Toll Free: 0800 279 4841
USA Toll Free: 1877 280 1254
International Toll: +44 (0)20 3427 1915
Confirmation code: 7773031
Afternoon program:
REC Silicon ASA will also host an analyst conference call with possibilities for questions and answers later the same day at 15:00 CET. Please make sure to dial in at least 5 minutes ahead of time to finalize your registration.
International dial in: +47 2316 2787
Please provide confirmation code 9022192 and state your name, company and country of residence.
For further information, please contact:
James A. May II, CFO,
+1 (509) 989-1023 or
Pal Elstad
+47 991 66 293
Email: pal.elstad@recsilicon.com
About REC Silicon ASA
REC Silicon ASA is a leading producer of advanced silicon materials, delivering high-purity polysilicon and silicon gas to the solar and electronics industries worldwide. We combine 25 years of experience and proprietary technology with the needs of our customers and annual production capacity of more than 20,000 MT of polysilicon from our two US-based manufacturing plants. Listed on the Oslo Stock Exchange (ticker: REC), the company is headquartered in Moses Lake, Washington and employs approximately 740 people.
For more information, go to: www.recsilicon.com
=====================================================
Sandvika, February 26, 2014: REC Silicon ASA announced today that its subsidiaries, REC Silicon AS and REC Silicon Inc, have entered into agreements with Shaanxi Non-Ferrous Tian Hong New Energy Co., Ltd. governing a joint venture partnership that will expand operations into China.
REC Silicon AS and Shaanxi Non-Ferrous Tian Hong New Energy Co., Ltd. have entered into joint venture agreements for the formation of a production joint venture and a sales joint venture. REC Silicon Inc and Shaanxi Non-Ferrous Tian Hong New Energy Co., Ltd. have entered into a technology transfer agreement, governing the terms under which REC Silicon Inc will transfer the exclusive, non-transferrable right to use its technology in China and Taiwan to the production joint venture.
The production joint venture will construct and operate a new plant for the production of silane gas, solar and electronic grade polysilicon, utilizing REC Silicon's next generation fluidized bed reactor (FBR) technology.
The new plant will be located in Yulin, in the Shaanxi Province, and is expected to have capacity of 18,000 metric tons of granular polysilicon, an additional 1,000 metric tons of Siemens polysilicon, and 500 metric tons of silane gas loading.
As part of these agreements, REC Silicon expects to receive upfront payments from Shaanxi Non-Ferrous Tian Hong New Energy Co., Ltd., totaling US$198 million (net of taxes) in March and August of 2014, for the production joint venture's rights to use its technology. As the production joint venture will have ownership of the technology rights, Shaanxi Non-Ferrous Tian Hong New Energy Co. Ltd. will be reimbursed by the production joint venture which will secure debt financing for the reimbursement instead of being funded by additional contributions from either party. Upon receipt of these payments and the issuance of necessary licenses for the production joint venture to conduct business, REC Silicon, Inc will begin to transfer necessary technology and operating procedures to the production joint venture.
REC Silicon will contribute US$244 million to acquire a 49% equity interest in the production joint venture. REC Silicon expects to make its capital contribution in three installments on the following schedule: US $75 million in September of 2014; US$15 million in August of 2016; and US$154 million in August of 2017. To acquire a 51% interest in the production joint venture, Shaanxi Non-Ferrous Tian Hong New Energy Co., Ltd. will contribute US$254 million in two installments, on a similar schedule.
REC Silicon does not anticipate taking on any additional debt nor offering any new equity rights in order to fulfill its investment obligations in the joint venture. Receipt of the upfront payments will allow REC Silicon to meet its 2014 debt obligations and increase REC Silicon's financial stability.
The production joint venture will be governed by a board of four directors, with REC Silicon and Shaanxi Non-Ferrous Tian Hong New Energy Co., Ltd. each appointing two directors. For the first three-year term, REC Silicon will appoint the Vice Chairman of the board and both the Chief Financial Officer and Chief Technology Officer; Shaanxi Non-Ferrous Tian Hong New Energy Co., Ltd. will appoint the Chairman of the board and the Chief Executive Officer. During the second three-year term, REC Silicon will appoint the Vice Chairman of the board and the Chief Executive Officer of the production joint venture; Shaanxi Non-Ferrous Tian Hong New Energy Co., Ltd. will appoint the Chairman of the board and the Chief Financial Officer of the production joint venture. Thereafter, appointment of those four positions will rotate between Shaanxi Non-Ferrous Tian Hong New Energy Co., Ltd. and REC Silicon every three years.
REC Silicon and Shaanxi Non-ferrous Tian Hong New Energy Co., Ltd. have also entered into an agreement for a new sales joint venture that will be established close to the start up of the production joint venture. The term of the sales joint venture is six years, and each party will own a 50% equity interest. Capital contributions of the respective parties will be determined closer to incorporation. This sales joint venture will be responsible for the marketing and sales of all products from the new production joint venture and all equivalent products from REC facilities in the US.
The sales joint venture will be governed by a board of four directors, with REC Silicon and Shaanxi Non-ferrous Tian Hong New Energy Co., Ltd. each appointing two directors. For the initial three-year term, REC Silicon will appoint the Chairman of the board and the Chief Executive Officer; Shaanxi Non-ferrous Tian Hong New Energy Co., Ltd. will appoint the Vice Chairman of the board and the Chief Financial Officer. In the second three-year term, REC Silicon will appoint the Chairman of the board and the Chief Financial Officer; Shaanxi Non-ferrous Tian Hong New Energy Co., Ltd. will appoint the Vice Chairman of the board and the Chief Executive Officer.
Tore Torvund, CEO of REC Silicon ASA said, "I am excited to announce this strategic alliance with an ideal partner. This joint venture is a key step in the worldwide growth of REC Silicon and will strengthen its leadership position in the industry. It demonstrates the value of our technology and allows us to expand our capacity without requiring REC Silicon to use its current assets or to raise other funds in order to make its capital contribution."
REC Silicon is recognized in the industry as a leader in technology and efficient production, and it brings this proven technology along with production experience to the new joint venture. Shaanxi Non-ferrous Tian Hong New Energy Co., Ltd. is a wholly owned subsidiary of Shaanxi Non-Ferrous Metals Holding Group Co., Ltd., a well established Chinese company with assets in excess of US$17 billion.
Investor call:
Later today, REC Silicon ASA will host an investor conference call with the possibility of questions and answers at 2:30 CET. Please make sure to dial in at least 5-10 minutes ahead of time to finalize your registration.
International dial in: +44 (0)20 7136 2056
Norway Toll Free: 800 56054
UK Toll Free: 0800 279 5004
USA Toll Free: 1 877 280 2296
China Toll Free: 10800 712 2769
Please provide confirmation code 6136722 and state your name, company and country of residence.
After the investor conference call, for subsequent media inquiries, please contact:
In EU and China:
Tore Torvund
tore.torvund@recsilicon.com
+1 509-793-8581
In the US:
Ryan Dunn
ryan.dunn@recsilicon.com
+1 (509) 793-9020
=======================================================
REC has decided to separate its Silicon and Solar businesses by listing REC Solar ASA as a separate company on the Oslo Stock Exchange. Through this transaction, both companies will improve their financing, with REC Solar ASA established as a debt-free leading provider of solar panels and solutions.
Key facts:
¦REC will establish REC Solar ASA as an independent listed company
¦An Extraordinary General Meeting (EGM) will be held on September 23 to approve the separation.
¦Subscription rights will be received by all REC shareholders on record as of the EGM date.
¦Shareholders will receive non-tradable subscription rights for one new share in REC Solar for each 58 shares they hold in REC.
¦The subscription period is expected to start on or about September 26 and end on or about October 10.
¦The listing of REC Solar ASA (ticker:
RECSOL) is expected on or about Oct 18.
REC shareholders do not need to act prior to the subscription period for the offering starting on or about September 26 in order to use the subscription rights.
Receiving and using the subscription rights in the new company will not affect the shareholding in REC. The subscription price will be NOK 20 per share, and oversubscription will not be allowed. REC shareholders will receive a prospectus for the proposed offering, and will be allocated subscription rights following the EGM.
The offering of 100 percent of the shares in REC Solar ASA has been underwritten by the largest shareholders of REC, valuing the equity of REC Solar ASA at NOK 800 million.
Since you seem to be on top of every thing why would I want to do that PS.. hank
http://investorshub.advfn.com/Hanks-Trading-account-10347/
Sales but what are the earnings and in the past 2 years the shares have increased 61 Times.. Track Earnings PS and leave the Revenues for the uneducated.. When the shares are at 2 Billion who cares.. PS ???
It hasn't grown in 5 years except an explosion in shares PS.. hank
It's actually quite more factual than PR's put out by the company.. It actually could happen..
It's down because they didn't release the new number of shares in a while As Promised so they don't have to show that they are converting big time.. hank
But the Converters want to see it at $0.001.. Go figure PS..??? hank
NEW CHART...
I doubt if many have seen this one before and what PS has done to the folks that invested with him along the way.. One picture is worth a thousand words.. $40,000. turns into beer money !!!!
Something to think about when you go to the ACGX website and they post a PR showing a paid for pump that say's this POS is worth $0.05..
http://www.marketwatch.com/investing/stock/acgx/charts?symb=ACGX&countrycode=US&time=20&startdate=1%2F4%2F1999&enddate=3%2F11%2F2014&freq=1&compidx=none&compind=none&comptemptext=Enter+Symbol%28s%29&comp=none&uf=7168&ma=1&maval=50&lf=1&lf2=4&lf3=0&type=2&size=2&style=1013
If that's what you believe a bid for 20,000,000 I bet would be filled at $0.0028 PS.. hank
True and since they are real printers they know how to promote and sell paper.. Sad but it's like the updates promised each week.. I'm now in the camp that they will be hard pressed to even earn money this year,, because all thier PR's tout sales but never mention earnings.. Slimey and slick as thier print jobs.. hank
I never have bashed ACGX as a company.. It's the management that screws the shareholders because they would of been thrown out a long time ago by the longs if thier antics were not disguised by a real company.. But when the shares go from 8.5 Mil. to over 500 Mil. in less than 2 years and the president doubles his shares with a stroke of a pen,, what would you call anyone that reminds others of thier deeds..??
BTW the $0.0026's are almost all gone on the bid.. Just who do you think is selling now..??
hank
That's true and this has been a terrible year starting off.. But I'm lucky enough to have owned 12 10-baggers in my life and 2 of them were last year.. Not penny money but real money in each..
In case if you haven't noticed the Converters are continue to sell since the last big PR release.. The $0.0026's are being hit as I type and thier goal is $0.0016 so they can convert again at $0.001.. Watch and Learn.. hank
Keep adding and you will be just like those that added before the big conference waiting for the pop after the 1000 that were to attend the $25,000.00 Conference that was paid for by ACGX just to Co-Sponser....
Included on the invite list was the Gov. of Florida,, as usual overpromised and underdelivered and never heard about again.. Not even an update on the Conference from the company because all that were there was the P&D's.. As promised it was a total flop but the Converters made out just fine..
Keep buying and the shares outstanding will continue going up.. You just can't buy this POS faster than they print stock.. Look at the posts from 2 years ago when I-Hubbers owned twice the float and there were but 8.5 Mil. shares out..
Wake up.. hank