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Looks like with all the volume we've had since last week and little climb someone with a lot of shares and/or able to short a lot knew what was coming!
BNVI is delisting and going to trade on OTCBB :( Sad, so sad... They should have waited til mid next week for this news
Would like to see them get out of the way and let us close over .27
He better have a lot of 100 blocks to sell... Volume 4.55 million and ask still getting hit like crazy
Correction 4.6 mil
er 4.62 mil
They know exactly how to run a penny stock company. They get suckers to buy up dumped shares, then those same suckers get others to buy hoping it will rise.
They reverse split and do the whole thing over again. Bad thing is the SEC allows this crap!
I see it continuing like it has... The SEC only seems to be going after those that can pay millions in fines!
And neither does one that never gets put on the stove...
C'mon ESPI, let's start heating it up some!
They got their 15-20% gain anyway. I'm waiting for the big prize!
Market Cap
10.36 Mil
Shares Outstanding
54.56 Mil
Menerba could be a game changer!
Alot of great volume on BNVI and turn around in the works! (FINALLY)
Anyone taking a look at BIOD? Near all time lows, alot of consolidation lately, and nice news today
Committee for Orphan Medicinal Products Recommends Orphan Designation for Biodel's Stabilized Glucagon for the Treatment of Congenital Hyperinsulinism
Press Release: Biodel Inc. – 3 hours ago.. .
DANBURY, Conn., Jan. 20, 2012 (GLOBE NEWSWIRE) -- Biodel Inc. (Nasdaq:BIOD - News) today reported that the European Medicines Agency's (EMA) Committee for Orphan Medicinal Products (COMP) has recommended that Biodel's Stabilized Glucagon for the treatment of congenital hyperinsulinism (CHI) be granted Orphan Medicinal Product Designation. The COMP's recommendation to the European Commission generally results in a ratification of the COMP opinion by the European Commission one to two months following the announcement by the COMP. Orphan designation qualifies the sponsor of the product for fee reductions, protocol assistance, centralized application procedure and access to 10 years marketing exclusivity once authorized, according to the Orphan Drug Regulation.
Dr. Errol De Souza, President and Chief Executive Officer of Biodel, stated: "We welcome the COMP's recognition of the important contribution a stable formulation of glucagon could bring to the lives of children suffering from CHI. While our primary glucagon program is a rescue product for the treatment of severe hypoglycemia in patients with diabetes, this designation represents an important component of our strategy to maximize the value of our product candidates to patients and shareholders in both our glucagon and ultra-rapid-acting prandial insulin programs."
CHI
CHI is a genetically heterogeneous disorder characterized by excess, dysregulated insulin secretion from pancreatic beta cells. It is the most common cause of persistent hypoglycemia in neonates and infants and it occurs at an incidence of 1:30,000 to 1:50,000 births. Children who present with this disorder generally require aggressive artificial calorie support in order to prevent hypoglycemia and resulting neurologic damage. Despite aggressive treatment with available therapies, the estimated prevalence of permanent neurologic damage from breakthrough hypoglycemia ranges from 20% to 50%. The treatment paradigm for this condition typically begins with intravenous glucose supplementation, often requiring highly concentrated glucose solutions administered through central venous catheters in intensive care unit settings. While some patients respond to treatment with diazoxide and/or somatostatin analogs, the balance of the patients are eventually treated surgically. Of these, many will need to undergo a near-total pancreatectomy which in most cases leads to insulin-dependent diabetes mellitus by the time the patient reaches adolescence.
Glucagon
Glucagon is a potential medical treatment for any form of CHI. Glucagon increases blood glucose concentrations acutely by stimulating breakdown of glycogen stores in the liver (glycogenolysis). In the setting of hyperinsulinism, the liver contains excess glycogen due to insulin-dependent inhibition of glycogenolysis. Pilot data describing clinical experience with long-term subcutaneous infusion of glucagon to CHI patients have been published. In a retrospective review of nine patients with CHI, glucagon infusion over weeks to years allowed the reduction or discontinuation of central glucose infusion in all children studied. The glucagon treatment was generally well tolerated, with the most common side effect being a skin rash. However, these glucagon infusions are complicated by frequent catheter obstructions, sometimes occurring daily. This occurs because glucagon in its currently marketed formulations is unstable in solution, particularly at elevated temperatures. This instability in solution makes currently marketed formulations of glucagon impractical for long-term use in these patients.
Biodel's formulation of glucagon is designed to remain stable in solution for a longer period than existing commercial formulations. Preliminary data have been generated to show that Biodel's formulation has greater chemical stability at elevated temperatures than existing commercial formulations. In addition, in vitro testing has shown chemical and physical stability when used in a commercially available insulin pump.
About Biodel Inc.
Biodel Inc. is a specialty biopharmaceutical company focused on the development and commercialization of innovative treatments for diabetes that may be safer, more effective and more convenient for patients. We develop our product candidates by applying our proprietary formulation technologies to existing drugs in order to improve their therapeutic profiles. For further information regarding Biodel, please visit the company's website at www.biodel.com.
Safe-Harbor Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements about future activities related to the clinical development plans for the company's drug candidates, including the potential timing, design and outcomes of clinical trials; and the company's ability to develop and commercialize product candidates. Forward-looking statements represent our management's judgment regarding future events. All statements, other than statements of historical facts, including statements regarding our strategy, future operations, future clinical trial results, future financial position, future revenues, projected costs, prospects, plans and objectives of management are forward-looking statements. The words "anticipates," "believes," "could," "estimates," "expects," "intends," "may," "plans," "potential," "predicts," "projects," "should," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. The company's forward-looking statements are subject to a number of known and unknown risks and uncertainties that could cause actual results, performance or achievements to differ materially from those described or implied in the forward-looking statements, including, but not limited to, the success of our product candidates, particularly our proprietary formulations of injectable insulin that are designed to be absorbed more rapidly than the "rapid-acting" mealtime insulin analogs presently used to treat patients with Type 1 and Type 2 diabetes; our ability to conduct pivotal clinical trials, other tests or analyses required by the U.S. Food and Drug Administration, or FDA, to secure approval to commercialize a proprietary formulation of injectable insulin; our ability to secure approval from the FDA for our product candidates under Section 505(b)(2) of the Federal Food, Drug, and Cosmetic Act; the progress, timing or success of our research, development and clinical programs, including any resulting data analyses; our ability to develop and commercialize a proprietary formulation of injectable insulin that may be associated with less injection site discomfort than Linjeta(TM) (formerly referred to as VIAject(R)), which is the subject of a complete response letter we received from the FDA; our ability to enter into collaboration arrangements for the commercialization of our product candidates and the success or failure of any such collaborations into which we enter, or our ability to commercialize our product candidates ourselves; our ability to protect our intellectual property and operate our business without infringing upon the intellectual property rights of others; the degree of clinical utility of our product candidates; the ability of our major suppliers to produce our products in our final dosage form; our commercialization, marketing and manufacturing capabilities and strategies; our ability to accurately estimate anticipated operating losses, future revenues, capital requirements and our needs for additional financing; and other factors identified in our most recent report on Form 10-Q for the quarter ended June 30, 2011. The company disclaims any obligation to update any forward-looking statements as a result of events occurring after the date of this press release.
BIOD-G
Nice news!
Biodel Inc. (Nasdaq:BIOD) today reported that the European Medicines Agency's (EMA) Committee for Orphan Medicinal Products (COMP) has recommended that Biodel's Stabilized Glucagon for the treatment of congenital hyperinsulinism (CHI) be granted Orphan Medicinal Product Designation. The COMP's recommendation to the European Commission generally results in a ratification of the COMP opinion by the European Commission one to two months following the announcement by the COMP. Orphan designation qualifies the sponsor of the product for fee reductions, protocol assistance, centralized application procedure and access to 10 years marketing exclusivity once authorized, according to the Orphan Drug Regulation.
Dr. Errol De Souza, President and Chief Executive Officer of Biodel, stated: "We welcome the COMP's recognition of the important contribution a stable formulation of glucagon could bring to the lives of children suffering from CHI. While our primary glucagon program is a rescue product for the treatment of severe hypoglycemia in patients with diabetes, this designation represents an important component of our strategy to maximize the value of our product candidates to patients and shareholders in both our glucagon and ultra-rapid-acting prandial insulin programs."
CHI
CHI is a genetically heterogeneous disorder characterized by excess, dysregulated insulin secretion from pancreatic beta cells. It is the most common cause of persistent hypoglycemia in neonates and infants and it occurs at an incidence of 1:30,000 to 1:50,000 births. Children who present with this disorder generally require aggressive artificial calorie support in order to prevent hypoglycemia and resulting neurologic damage. Despite aggressive treatment with available therapies, the estimated prevalence of permanent neurologic damage from breakthrough hypoglycemia ranges from 20% to 50%. The treatment paradigm for this condition typically begins with intravenous glucose supplementation, often requiring highly concentrated glucose solutions administered through central venous catheters in intensive care unit settings. While some patients respond to treatment with diazoxide and/or somatostatin analogs, the balance of the patients are eventually treated surgically. Of these, many will need to undergo a near-total pancreatectomy which in most cases leads to insulin-dependent diabetes mellitus by the time the patient reaches adolescence.
Glucagon
Glucagon is a potential medical treatment for any form of CHI. Glucagon increases blood glucose concentrations acutely by stimulating breakdown of glycogen stores in the liver (glycogenolysis). In the setting of hyperinsulinism, the liver contains excess glycogen due to insulin-dependent inhibition of glycogenolysis. Pilot data describing clinical experience with long-term subcutaneous infusion of glucagon to CHI patients have been published. In a retrospective review of nine patients with CHI, glucagon infusion over weeks to years allowed the reduction or discontinuation of central glucose infusion in all children studied. The glucagon treatment was generally well tolerated, with the most common side effect being a skin rash. However, these glucagon infusions are complicated by frequent catheter obstructions, sometimes occurring daily. This occurs because glucagon in its currently marketed formulations is unstable in solution, particularly at elevated temperatures. This instability in solution makes currently marketed formulations of glucagon impractical for long-term use in these patients.
Biodel's formulation of glucagon is designed to remain stable in solution for a longer period than existing commercial formulations. Preliminary data have been generated to show that Biodel's formulation has greater chemical stability at elevated temperatures than existing commercial formulations. In addition, in vitro testing has shown chemical and physical stability when used in a commercially available insulin pump.
About Biodel Inc.
Biodel Inc. is a specialty biopharmaceutical company focused on the development and commercialization of innovative treatments for diabetes that may be safer, more effective and more convenient for patients. We develop our product candidates by applying our proprietary formulation technologies to existing drugs in order to improve their therapeutic profiles. For further information regarding Biodel, please visit the company's website at www.biodel.com.
Safe-Harbor Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements about future activities related to the clinical development plans for the company's drug candidates, including the potential timing, design and outcomes of clinical trials; and the company's ability to develop and commercialize product candidates. Forward-looking statements represent our management's judgment regarding future events. All statements, other than statements of historical facts, including statements regarding our strategy, future operations, future clinical trial results, future financial position, future revenues, projected costs, prospects, plans and objectives of management are forward-looking statements. The words "anticipates," "believes," "could," "estimates," "expects," "intends," "may," "plans," "potential," "predicts," "projects," "should," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. The company's forward-looking statements are subject to a number of known and unknown risks and uncertainties that could cause actual results, performance or achievements to differ materially from those described or implied in the forward-looking statements, including, but not limited to, the success of our product candidates, particularly our proprietary formulations of injectable insulin that are designed to be absorbed more rapidly than the "rapid-acting" mealtime insulin analogs presently used to treat patients with Type 1 and Type 2 diabetes; our ability to conduct pivotal clinical trials, other tests or analyses required by the U.S. Food and Drug Administration, or FDA, to secure approval to commercialize a proprietary formulation of injectable insulin; our ability to secure approval from the FDA for our product candidates under Section 505(b)(2) of the Federal Food, Drug, and Cosmetic Act; the progress, timing or success of our research, development and clinical programs, including any resulting data analyses; our ability to develop and commercialize a proprietary formulation of injectable insulin that may be associated with less injection site discomfort than Linjeta™ (formerly referred to as VIAject®), which is the subject of a complete response letter we received from the FDA; our ability to enter into collaboration arrangements for the commercialization of our product candidates and the success or failure of any such collaborations into which we enter, or our ability to commercialize our product candidates ourselves; our ability to protect our intellectual property and operate our business without infringing upon the intellectual property rights of others; the degree of clinical utility of our product candidates; the ability of our major suppliers to produce our products in our final dosage form; our commercialization, marketing and manufacturing capabilities and strategies; our ability to accurately estimate anticipated operating losses, future revenues, capital requirements and our needs for additional financing; and other factors identified in our most recent report on Form 10-Q for the quarter ended June 30, 2011. The company disclaims any obligation to update any forward-looking statements as a result of events occurring after the date of this press release.
Congrats on the purchase but should have waited... Really weird trading going on here.. Nothing bad but pps getting hammered big time
News for 'BNVI' - (*DJ Bionovo: Thomas Chesterman Is Leaving To Pursue Other Business Interests >BNVI)
(MORE TO FOLLOW) Dow Jones Newswires (212-416-2400)
January 04, 2012 08:05 ET (13:05 GMT)
Copyright (c) 2012 Dow Jones & Company, Inc.- - 08 05 AM EST 01-04-12
Lots of news... BIG SHAKE UPS - Hopefully it takes the PPS with it
EMERYVILLE, Calif., Jan. 4, 2012 /PRNewswire via COMTEX/ --
Bionovo, Inc. (NASDAQ: BNVI) today announced that David Boyle has joined the
Company effective immediately as Senior Vice President and Chief Financial
Officer. In that position, Mr. Boyle will be responsible for directing Bionovo's
financial strategy, accounting, financial planning, business development and
investor relations functions.
(Logo: http://photos.prnewswire.com/prnh/20111110/SF04662LOGO)
Mr. Boyle brings extensive operational and international financial experience to
Bionovo. He was previously Senior Vice President and Chief Financial Officer of
AVI BioPharma, Inc., a Washington-based company developing RNA-based
therapeutics. Prior to AVI, he was Vice President, Finance and Chief Financial
Officer of XOMA, Ltd., a California-based leader in the discovery and
development of therapeutic antibodies. In addition to his past positions as Vice
President of Finance at Polycom and Director of Business Development at Intel,
Mr. Boyle has held senior positions in biotechnology and specialty
pharmaceutical companies. He was previously at Salix Pharmaceuticals, Ltd. in
the U.S. and at Ares Serono Group both in the U.S. and Switzerland.
"We are excited to have David join our management team here at Bionovo as we
move forward the Phase III clinical development of Menerba, our drug candidate
for the treatment of menopausal hot flashes" said Isaac Cohen, Bionovo's
Chairman and Chief Executive Officer. "Beyond his extensive background in
finance, David brings to Bionovo expertise in several business and operational
areas."
Thomas Chesterman, the Company's former CFO, is leaving the Company to pursue
other business interests.
About Bionovo
Bionovo is a pharmaceutical company focused on the discovery and development of
safe and effective treatments for women's health and cancer, markets with
significant unmet needs and billions in potential annual revenue. The company
applies its expertise in the biology of menopause and cancer to design new drugs
derived from botanical sources which have novel mechanisms of action. Based on
the results of early and mid-stage clinical trials, Bionovo believes they have
discovered new classes of drug candidates within their rich pipeline with the
potential to be leaders in their markets. Bionovo is headquartered in
Emeryville, California and is traded on the NASDAQ Capital Market under the
symbol, "BNVI". For more information about Bionovo and its programs, visit
http://www.bionovo.com.
NEWS!
EMERYVILLE, Calif., Jan. 3, 2012 /PRNewswire via COMTEX/ -- Bionovo, Inc.
(NASDAQ: BNVI), a pharmaceutical company focused on the discovery and development of safe and effective treatments for women's health and cancer, today announced that it has entered into a $5 million securities purchase agreement with Socius CG II, Ltd. ("Socius"), a Bermuda-based subsidiary of Socius Capital Group, LLC.
(Logo: http://photos.prnewswire.com/prnh/20111110/SF04662LOGO)
"In a challenging economic environment, we are pleased to have the necessary financial resources to continue the development of our drug candidate, Menerba," stated Isaac Cohen, OMD, Bionovo's chairman and CEO. "With this funding, we will continue the phase 3 clinical trial for Menerba, our drug candidate for the treatment of menopausal hot flashes. We also will be able to continue discussions with strategic partners to provide a stronger financial base."
Under the terms of the agreement, the Company has the right, in its sole discretion, over a term of two (2) years and subject to certain closing conditions and limitations, to sell to Socius up to a total of $5 million of redeemable Series A Preferred Stock of the Company (the "Preferred Stock"), payable in tranches. The Preferred Stock will accrue a 10% dividend per annum from the date of issuance. Pursuant to the purchase agreement, in addition to the Preferred Stock, Socius shall receive warrants to purchase shares of the Company's common stock valued at 35% of the Preferred Stock amount. The exercise price of the warrants will equal the closing bid price of the Company's common stock on the preceding day.
When Preferred Stock is sold, Socius is also obligated to exercise an additional investment right to purchase a number of shares of common stock valued at 100% of the amount of Preferred Stock purchased at a per share price equal to the exercise price of the warrants received in the sale of Preferred Stock. Both the
warrants and additional investment right are exercised when the Company elects to sell a tranche of Preferred Stock to Socius.
Upon exercise, Socius must pay for the shares underlying the additional investment right and the warrants, at its option, either in cash or by delivering a full-recourse secured promissory note. Any such promissory note will bear interest at 2.0% per year calculated on a simple interest basis and be
secured by certain securities owned by Socius with a fair market value equal to the principal amount of the promissory note.
The Company may redeem the Preferred Stock at any time and, at the option of either the Company or Socius, all outstanding promissory notes may be offset, exchanged and cancelled for all outstanding shares of Preferred Stock then held by Socius.
The securities, other than the Preferred Stock, under the purchase agreement were offered through a prospectus supplement pursuant to Bionovo's effective shelf registration statement and base prospectus contained therein. The Preferred Stock is not convertible into shares of common stock and neither the
additional investment right nor the warrants will be listed on any national securities exchange.
A more detailed description of the purchase agreements with Socius is set forth in Bionovo's Current Report on Form 8-K filed with the SEC on the date of this press release.
This press release does not and shall not constitute an offer to sell or the solicitation of any offer to buy any of the securities, nor shall there be any sale of the securities, in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such state.
Nice trading today...
http://bionovo.com/about/careers
BNVI looking for help to get processes going!!!
He can always go visit Tom in Sackett's Harbor. Maybe Tom would give him a free drink on the rest of his shareholders???
Chart looks GREAT... Like to see it close over .38 today
Over $1/share here in CASH...
IMO Seaway is a dying/diluting shell and the CEO is nothing but a 2 bit con artist salesman that's done a great job at selling shares.
In someone else's opinion SEVA could be a millionaire maker and Tom Scozzafava could be the next Warren Buffet (but I would also expect them to be INSANE)
I'll definitely take a .71 close over .70 anyday! Let's see what tomorrow brings here
See here
Biodel to Report Fourth Quarter Fiscal Year 2011 Financial Results on December 6, 2011
DANBURY, Conn., Dec. 1, 2011 /PRNewswire/ -- Biodel Inc. (Nasdaq: BIOD) will issue its fourth quarter fiscal year 2011 financial results on December 6, 2011. Following the release of the company's financial results, Biodel's senior management will host a conference call to discuss the results and provide an update on the company's progress.
December 6, 2011 schedule:
4:00 pm EST:
Q4 fiscal year 2011 results will be distributed
4:15 pm EST:
Conference call participants should dial:
+1 ( 877 ) 303 - 8025 (United States) or
+1 ( 760 ) 536 - 5162 (International)
4:30 pm EST:
Conference call begins
Interested parties may access a live audio webcast of the conference call in the investor section of Biodel's website at www.biodel.com. The audio webcast will be archived and available for replay through the website.
About Biodel Inc.
Biodel Inc. is a specialty biopharmaceutical company focused on the development and commercialization of innovative treatments for diabetes that may be safer, more effective and more convenient for patients. We develop our product candidates by applying our proprietary formulation technologies to existing drugs in order to improve their therapeutic profiles. For further information regarding Biodel, please visit the company's website at www.biodel.com.
BIOD-G
Contact: Seth D. Lewis, +1-646-378-2952
SOURCE Biodel Inc.
Back to top
RELATED LINKS
http://www.biodel.com
Boom Chicky Boom Boom Baby! GO CYCC
Be much happier if this closes at .70
Geez... that's like tradng in a car you had a lein on and the bank coming back after you because the next buyer didn't pay for it! WOW
Glad the hacketts beat it
I played a bounce on AMR from .27 to .38 today... Nice little profit for shares that will probably be worth NOTHING
Hmmm, you seeing a duplicate trade? I only see one with total volume of 660,900 for the day
Anyway... over 10% of days trading purchased in final seconds with cost of high of day is GREAT!
Chart is set up for a monster!
See that buy at the EOD ? 84,200 shares at 4:00! Somebody wanted in before tomorrow...
PPS getting crushed. Let's hope this holds!
Not sure, but some big guys hitting at/after the bell!
EMERYVILLE, Calif., Nov. 16, 2011 /PRNewswire via COMTEX/ -- Bionovo, Inc.
(NASDAQ: BNVI), a pharmaceutical company focused on the discovery and
development of safe and effective treatments for women's health and cancer,
today announced that the first patient has now been randomized and will begin
dosing in the Phase 3 pivotal clinical trial evaluating the safety and efficacy
of two doses of Menerba(TM) (MF101) among a cohort of postmenopausal women for
the treatment of menopausal hot flashes.
(Logo: http://photos.prnewswire.com/prnh/20111110/SF04662LOGO)
As announced previously, the Phase 3, multicenter, double-blind,
placebo-controlled, randomized clinical trial evaluating Menerba is currently
open for enrollment. A total of 50 clinical sites in the U.S. will enroll 1,200
postmenopausal women between the ages of 40 and 65 years. Participants will be
randomized to Menerba 5g/day, Menerba 10g/day or placebo and treated for 12
weeks. The primary aims of the study are to determine the safety and efficacy of
two doses of Menerba compared to placebo after 12 weeks of treatment. Efficacy
will be measured by the reduction of moderate to severe hot flushes from
baseline to 12 weeks of treatment. Dr. Wulf Utian, Executive Director Emeritus
and Honorary Founding President of the North America Menopause Society and
Professor Emeritus at Case Western Reserve University is serving as the
Principal Investigator for the study.
About Menerba
Menerba is an oral drug candidate designed for the safe, effective treatment of
vasomotor symptoms (hot flashes) associated with menopause, which is
manufactured from botanical sources. Menerba is an estrogen receptor beta (ER-b)
selective drug, developed as an alternative to the products currently on the
market which have been shown to increase the risk for breast and uterine
cancers. It has been shown that the increased risk of breast and uterine cancers
is associated with activation of estrogen receptor alpha (ER-a) and that
activation of estrogen receptor beta (ER-b) blocks the growth promoting effects
on breast cancer cells. The active ingredients in Menerba are derived from
botanicals with centuries of recorded safe, effective use in traditional Chinese
medicine (TCM). Bionovo recognizes the opportunity to commercialize a product
that would be as effective as hormone therapy, without the health risks. Menerba
has completed a Phase 2 trial with positive results for efficacy and has been
evaluated by an independent Data and Safety Monitoring Board and passed through
a standard two-round examination for safety. Menerba also has been shown in
animal studies to prevent the proliferation of breast cancer and to have a
beneficial effect on osteoporosis, though this has not yet been studied in
humans.
Whole market taking a dump!
My whole account outside of 2 things is RED
Maury was just a puppet for Tom so he could sell shares. That's all! Maury isn't the guilty one here, Tom is!
Go after Tom if you want to go after anyone!
Nope - dropping again for no reason!
Big buy this morning at 1.47 - 31k shares! Then we go down on low volume? LOL
hold your shares boys and girls!
SCOTT, La., Nov 7, 2011 (GlobeNewswire via COMTEX) -- ESP Resources, Inc.
(OTCBB:ESPI) (the "Company" or "ESP Resources"), an oil and gas services company
offering analytical services and essential custom-blended oil and gas well
chemicals which improve production yields and overall efficiencies, announced
unaudited financial results for the three and nine months ended September 30,
2011.
For the three months ended September 30, 2011, sales were $3,383,217, compared
to $1,309,326 for the same period in 2010, an increase of $2,073,891, or 158%.
For the nine months ended September 30, 2011, sales were $7,493,438, compared to
$3,627,972 for the same period in 2010, an increase of $3,865,466, or 107%. The
increase was due to several factors including the expanded customer base from
increased sales coverage in the Southern Louisiana, South Texas, Southeastern
Texas and Arkansas regions and sales volume increased from petrochemical sales
and services to customers engaged in the hydraulic fracturing of oil and gas
wells. The addition of field service technicians in the South Texas and Arkansas
regions in previous quarters and their sales contacts resulted in a direct
increase in sales volumes from these regions.
Gross profit was $1,956,527 for the three months ended September 30, 2011, or
58%, compared to $587,338 for the same period in 2010, or 45%. Gross profit was
$4,148,758 for the nine months ended June 30, 2011, or 55%, compared to
$1,943,943 for the same period in 2010, or 54%. The increase of 13% in gross
profit for the three month period in 2011 is the result of decrease in costs as
a percentage of sales for certain petrochemical components used to service the
Company's customers engaged in the hydraulic fracturing of oil and gas wells,
compared to the same period in 2010.
Modified Earnings before interest, taxes, depreciation amortization and
stock-based compensation ("Modified EBITDA") are a non-GAAP financial measure.
Modified EBITDA for the three months ended September 30, 2011 was $113,618,
compared to $73,746 for the same period in 2010. Modified EBITDA for the nine
months ended September 30, 2011 was $(303,329) compared to $(170,007) for the
same period in 2010.
The Company's quarter-to-quarter revenue growth was approximately $1,088,152, or
47%, for the three months ended September 30, 2011, compared to the three months
ended June 30, 2011.
Commenting on the results, Mr. David Dugas, CEO of ESP Resources, Inc., stated,
"We continue to break monthly and quarterly sales records. Just this past second
quarter, we marked the first quarter in the company's history where we have
topped $2,000,000 in sales. Now, in this third quarter, we approached $3,500,000
in quarterly sales. As previously stated, our continued sales growth highlights
the unique aspects of the product and services we offer, especially with the
added impact of our petrochemical products and services to our customers in the
fracking business."
The Company uses Modified EBITDA as an unaudited supplemental financial measure
to assess the financial performance of its assets without regard to financing
methods, capital structures, taxes or historical cost basis; the Company's
liquidity and operating performance over time in relation to other companies
that own similar assets and that the Company believes calculate Modified EBITDA
in a similar manner; and the ability of the Company's assets to generate cash
sufficient to pay potential interest costs. The Company also understands that
such data are used by investors to assess its performance. However, the term
Modified EBITDA is not defined under generally accepted accounting principles
and Modified EBITDA is not a measure of operating income, operating performance
or liquidity presented in accordance with generally accepted accounting
principles. When assessing the Company's operating performance or liquidity,
investors should not consider this data in isolation or as a substitute for net
income, cash flow from operating activities, or other cash flow data calculated
in accordance with generally accepted accounting principles.
About ESP Resources, Inc.:
ESP Resources, Inc. is a publicly-traded (OTCBB:ESPI) oil and gas services
company offering analytical services and essential custom-blended oil and gas
well chemicals which improve production yields and overall efficiencies. Through
its wholly owned subsidiary, ESP Petrochemicals, Inc., the Company distributes
its product line throughout the oil and gas producing regions of Louisiana,
Texas, Mississippi, Alabama, Arkansas and Oklahoma. The Company also distributes
internationally though oil and gas service companies in other prolific oil and
gas well regions throughout the world. The Company's senior management has over
100 years of combined operating experience in the petrochemical industry. Any
reference herein to "ESP Resources", the "Company", "we", "our" or "us" is
intended to mean ESP Resources, Inc., including the wholly-owned subsidiary
indicated above, unless otherwise indicated. More information is available on
the Company's Website at www.espchem.com.
Legal Notice Regarding Forward-Looking Statements:
This press release contains "forward looking statements" within the meaning of
the safe harbor provisions of the U.S. Private Securities Litigation Reform Act
of 1995. Statements in this news release that are not historical facts are
forward-looking statements that are subject to risks and uncertainties.
Forward-looking statements are based on current facts and analyses and other
information that are based on forecasts of future results, estimates of amounts
not yet determined and assumptions of management. Forward looking statements are
generally, but not always, identified by the words "expects," "plans,"
"anticipates," "believes," "intends," "estimates," "projects," "aims,"
"potential," "goal," "objective," "prospective," and similar expressions or that
events or conditions "will," "would," "may," "can", "could" or "should" occur.
Actual results may differ materially from those currently anticipated due to a
number of factors beyond the reasonable control of the Company. It is important
to note that actual outcomes and actual results could differ materially from
those in such forward-looking statements.
Readers are cautioned not to place undue reliance on the forward-looking
statements made in this press release. In evaluating these statements, you
should consider the risks discussed, from time to time, in the reports we file
with the U.S. Securities & Exchange Commission. For a discussion of some of the
risks and important factors that could affect the Company's future results and
financial condition, see the Company's Form 10-Ks and 10-Qs on file with the
U.S. Securities & Exchange Commission.
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: ESP Resources, Inc.
You serious? It's all closed down already?
Of course maybe they're going to open in a new location after the first of the year when they reverse split EMPZ stock?
More like an anchor dragging the pps into the abyss
Maybe he finally figured out he isn't CEO material so he's now driving a truck and delivering packages (with his honesty and integrity, I'm sure he wouldn't STEAL out of delivery boxes so maybe EVERYONE will use his delivery services - LOL)
Do you know how many of those have been filled out for this guy? Seems going after a small time crook like Tom wouldn't give them the "WE GOT MADOFF" news and how is that worth it if it's taking away from PORN TIME??
Yes, they got Madoff, but how many millions fewer dollars should he have been able to squander before getting him? look at MF Global in the news now, why wasn't the SEC on top of them?
The whole system is a joke set up to steal from the middle class!
Was never about the Pizza... was it? I thought it was about TS being able to dump some shares ???