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It was never PRed.
It's an issue that's in mediation. What can they possibly say? It's a 500K issue to the bottom line.
What were you eating when you read the report?
gatorpuss, serious question. Do you understand that you can be legally held accountable for spewing slanderous information over the internet? Do you understand this concept?
Your rambling again.
Ooopps, I'm sorry. Let me put my iggy back on. lol
If we don't start running with volume soon, I'm just going to have to buy more. ;)
I knew you were the real deal PeanutKing. BTW, we have something in common...I sell 45 year old crusty nuts to finance my investments. LOFL.
"hey no problem, I just thought i would let everyone know who the Real Peanut King is. LOL
and by the way I do sell Fresh Roasted Nuts and many other things. :)"
Great post, thx.
Mel was a no show. Echo problems too. They'll try again Monday afternoon.
Good point.
Wasn't that funny when he askd for gatorpuuss? lofl.
It said free when everyone logged in.
LOL. I'm not going anywhere.
Once financials are released. And word hits the street regarding revenues. This baby will fly. Shouldn't be long now.
Thought he said released.
Financials are being completed and should be released next week.
Looks like at the least we'll get updates on year to date revenues, contract updates and new developments. Recent word from Mel is that they have been extremely busy.
LAS VEGAS--(BUSINESS WIRE)--Nexus Nano Electronics (Pink Sheets: NXNO - News) announced today that there will be a conference call on Friday, May 11 at 4:15 p.m. ET. Shareholders or other interested investors are encouraged to call in and participate in a discussion of the company's contracts and progress so far this year. There are several interesting developments at Nexus Nano, and President and COO Mel Roseman will be available to answer questions. Mike King will be hosting the call.
The number is 563-843-7000 and the code is 868820# (the pound sign must follow the entry). The call will begin at 4:15 p.m. ET, 3:15 p.m. CT, 2:15 p.m. MT, 1:15 p.m. PT. Some toll rates on the call may apply.
So we've got 14,327,038 outstanding shares, about 20M in projected 07 revenue, and new contracts being inked. Now at .042 cents a share. Oh I forgot, in business for over 30 years. Hmmm.
A PR right about now would be sweet.
Does anyone have the capability to record the conference call?
Now that's a nice number to me. Wonder what the float is.
Has anyone called TA for final share numbers before today's CC?
Less than two hours to get into NXNO before today's CC. I'm already fat with shares. lol
I'll be there using my real name of course. Frank
From what I understand the March 31st ending financials have to be posted by 15 May. Today is the 11th. Today is a conference call. I think it's a good sign.
Today's volume so far....25,600 shares. We all know the float on this is beautifully low. With the posted revenues and financials we all stand to make money.
So your not going to be in the conference call...lofl. For someone that's always spreading his BS about what managment is doing.... you're not even going to know first hand what's happenning. Again proof that you're posts are nothing but negative speculation. Of course, everyone here knew that already.
You ran out of money?
According to what M King told me these conference calls are going to be recurring. Maybe a monthly event. We'll get operational updates on how bussines is doing. These updates coupled with the financials should get us all to were we want to be.
Looks like a 500K dispute (about 4%) over NXNO's purchase price. Since it went to mediation, I don't think they can comment on it. But IMO it is only 500K plus or minus to the bottom line for either company.
Here's a summary from Jaco's 10Q filing, this sums it up (dispute over 500K):
3) On September 20, 2004, the Company completed the sale of substantially all of the assets of its
contract manufacturing subsidiary, Nexus Custom Electronics, Inc. (“Nexus”), to Sagamore Holdings, Inc.
for consideration of up to $13,000,000, subject to closing adjustments, and the assumption of certain
liabilities. The divestiture of Nexus has allowed the Company to focus its resources on its core electronics
distribution business. Under the terms of the purchase agreement relating to this transaction, the Company
received $9,250,000 of the purchase consideration in cash on the closing date. Such cash consideration was
FORM 10-Q March 31, 2006
Page 9
used to repay a portion of the outstanding borrowings under the Company’s line of credit (See Note 4). The
balance of the purchase consideration was satisfied through the delivery of a $2,750,000 subordinated note
issued by the purchaser. This note has a maturity date of September 1, 2009 and bears interest at the lower
of the prime rate or 7%. The note is payable by the purchaser in quarterly cash installments ranging from
$156,250 to $500,000 commencing September 2006 and continuing for each quarter thereafter until
maturity. Prepayment of the principal of and accrued interest on the note is permitted. In accordance with
the purchase agreement, the Company determined that it was owed an additional $500,000 pursuant to a
working capital adjustment provided for in the agreement, which has been recorded in the Company’s
financial statements. The Purchaser has disputed the Company’s claim to the working capital adjustment
and has informed the Company that it believes that the Company owes a $500,000 working capital
adjustment to the purchaser. Since this dispute remains unresolved, there has to date been no purchase price
adjustment between the Company and Sagamore that has been agreed to. Additionally, the Company is
entitled to receive additional consideration in the form of a six-year earn-out based on 5% of the annual net
sales of Nexus after the closing date, up to $1,000,000 in the aggregate. As of March 31, 2006, the
Company has not earned any of the additional consideration.
Pursuant to the purchase agreement, the purchaser has also entered into a contract that designates
the Company as a key supplier of electronic components to Nexus for a period of five years following the
closing date. The Company’s sales to Nexus were approximately $117,000 and $248,000 for the three and
nine months ended March 31, 2006, respectively, as compared to $241,000 and $465,000 for the three and
nine months ended March 31, 2005, respectively, subsequent to the date of sale.
As a result of the sale of Nexus, the Company no longer engages in contract manufacturing. In
accordance with the provisions of SFAS No, 144, “Accounting for the Impairment or Disposal of Long-
Lived Assets” (“SFAS No. 144”), the Company has accounted for the results of operations of Nexus as
discontinued in the accompanying consolidated statements of operations.
A summary of operating results of Nexus for the nine months ended March 31, 2005 were as follows:
Nine Months Ended
March 31,
2005
Net sales $5,208,184
Loss before income taxes $ (103,452)
That's a great question. I'll see if I can find out about an internet broadcast.
New business includes contracts with Apache helicopters, the US military, military HumVees and DOD classified applications. Orders have significantly increased and Nexus has strong production demand backlogs.
Nexus is an established manufacturing company (38 years old) with 2 plants, increasing revenues and customers in a variety of high growth industries.
I wonder if the posting of the financials is going to correspond with the conference call?
Anyone suspect the significance of doing the conference call after hours on Friday? When that happens it's usually very good news. It gives the market time to digest the impact of what was discussed over the entire weekend. Of course those in contact with the company CEO already know what's happenning here.
Nexus Nano Electronics (Pink Sheets: NXNO - News) announced today that there will be a conference call on Friday, May 11 at 4:15 p.m. ET. Shareholders or other interested investors are encouraged to call in and participate in a discussion of the company's contracts and progress so far this year. There are several interesting developments at Nexus Nano, and President and COO Mel Roseman will be available to answer questions. Mike King will be hosting the call.
The number is 563-843-7000 and the code is 868820# (the pound sign must follow the entry). The call will begin at 4:15 p.m. ET, 3:15 p.m. CT, 2:15 p.m. MT, 1:15 p.m. PT. Some toll rates on the call may apply.
Contact:
Princeton Research, Inc.
Mike King, 702-650-3000
Picked up 10K at .053.
You can ask him Gatorpussy. Have you ever talked with Tim? Have you ever talked with any company officers? It's easy to do.
Yes, we are in a solid position right now. This gem is real IMHO.