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We have to wait a few more weks to see a price increase, but they are in the black for ther last qaurter.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
Form 10-QSB
[X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934.
For the quarterly period ended December 31, 2001
[ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934.
For the transition period from to
Commission file number 0-28184
BRANDMAKERS, INC.
(Exact name of small business issuer as specified in its charter)
Utah 37-1099747
---------- ----------
(State or other jurisdiction of (IRS Employer
incorporation or organization) Identification No.)
140 Satellite Blvd. Ste. C, Suwanee, GA 30024
(Address of principal executive offices)
(770) 338-1958
(Issuer's telephone number)
APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE
PRECEDING FIVE YEARS
Not Applicable
APPLICABLE ONLY TO CORPORATE ISSUERS
State the number of shares outstanding of each of the issuer's classes of common equity, as of the latest practicable date: 123,135,787 shares common stock, $.001 par value, were outstanding as of January 15, 2002.
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
BRANDMAKERS, INC.
FORM 10-QSB
For the Quarter Ended December 31, 2001
INDEX
PAGE
PART I: FINANCIAL INFORMATION PAGE
Item 1 -
Financial Statements
Condensed Consolidated Balance Sheets as of June 30, 2001
and December 31, 2001 3
Condensed Consolidated Statement of Operations for the
six and three Months ended December 2000 and 2001 4
Condensed Consolidated Statements of Cash Flows for the
six months ended December 2000 and 2001 5
Notes to Consolidated Financial Statements 6
Item 2 -
Management's Discussion and Analysis 6-8
Part II: Other Information
Item 1 Legal Proceedings 8
Item 2 Changes in Securities and Use of Proceeds 8
Item 3 Default Upon Senior Securities 8
Item 4 Submission of Matters to a Vote of Security Holders 8
Item 5 Other Information 8
Item 6 Exhibits and Reports on Form 8-K 8
Signatures 9
- 2 -
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--------------------------------------------------------------------------------
Brandmakers, Inc.
CONSOLIDATED BALANCE SHEETS
December 31,
June 30, 2001
2001 (unaudited)
----------- -----------
ASSETS
CURRENT ASSETS
Cash and cash equivalents $ 51,917 $ 26,985
Receivables
Trade 302,910 259,878
Less allowance for doubtful accounts (25,000) (25,000)
----------- -----------
277,910 234,878
Inventories 206,402 88,013
----------- -----------
Total current assets 536,229 349,876
PROPERTY AND EQUIPMENT - net 845,293 777,187
OTHER ASSETS
Certificates of deposit - pledged 37,096 37,096
Deferred interest - 474
Prepaid insurance - 809
Deposits 45,606 53,889
----------- -----------
82,702 92,268
----------- -----------
1,464,224 1,219,331
=========== ===========
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Line of credit $ 142,013 $ 101,591
Notes payable 843,400 838,400
Accounts payable 405,768 386,460
Deferred revenue 267,108 203,392
Other current liabilities 36,037 65,929
Current portion of capital leases 158,915 106,585
----------- -----------
Total current liabilities 1,853,241 1,702,357
CAPITAL LEASES, less current portion 31,026 30,859
LONG-TERM DEBT - -
STOCKHOLDERS' EQUITY
Common stock - authorized 200,000,000
shares of $.001 par value 123,141 123,141
Additional paid-in capital 2,979,672 2,979,672
Retained earnings (deficit) (3,522,856) (3,522,856)
Retained earnings - current year - (93,842)
----------- -----------
(420,043) (513,885)
----------- -----------
$ 1,464,224 $ 1,219,331
=========== ===========
- 3 -
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Brandmakers, Inc.
CONSOLIDATED STATEMENTS OF OPERATIONS
Six Months Ended Three Months Ended
December 31, December 31,
2000 2001 2000 2001
(unaudited) (unaudited) (unaudited) (unaudited)
------------ ------------ ------------ ------------
Revenues $ 2,087,110 $ 1,621,277 $ 953,335 $ 796,294
Cost of Goods Sold 1,407,041 853,323 696,435 418,920
------------ ------------ ------------ ------------
Gross Profit 680,069 767,954 256,900 377,374
Operating Expenses
Salaries and wages 532,065 437,580 161,202 213,357
Rent 97,079 59,404 34,977 25,991
Advertising and promotion 16,292 18,533 1,421 4,805
Depreciation and amortization 110,478 110,592 55,239 55,296
Research and development 68,831 1,769 6,794 3,395
Other operating expenses 305,893 199,504 33,419 65,130
------------ ------------ ------------ ------------
1,130,638 827,382 293,052 367,974
------------ ------------ ------------ ------------
Operating Income (Loss) (450,569) (59,428) (36,152) 9,400
Other Income (expense)
Interest expense (99,690) (34,414) (35,994) (3,680)
------------ ------------ ------------ ------------
(99,690) (34,414) (35,994) (3,680)
------------ ------------ ------------ ------------
Profit (Loss) before taxes (550,259) (93,842) (72,146) 5,720
Income taxes - - - -
------------ ------------ ------------ ------------
Profit (loss) from continuing
operations (550,259) (93,842) (72,146) 5,720
Discontinued operations:
Profit or loss from operations of
K.W. Leisure, Ltd. Ltd. (682,679) - (563,360) -
------------ ------------ ------------ ------------
Net profit (loss) (1,232,938) (93,842) (635,506) 5,720
============ ============ ============ ============
Per share information
Basic
Profit (loss) from:
Continuing operations $ (0.00) $ (0.00) $ (0.00) $ 0.00
Discontinued operations (0.01) (0.00) (0.01) 0.00
------------ ------------ ------------ ------------
$ (0.01) $ (0.00) $ (0.01) $ 0.00
============ ============ ============ ============
Diluted
Profit (loss):
Continuing operations $ (0.00) $ (0.00) $ (0.00) $ 0.00
Discontinued operations (0.01) (0.00) (0.01) 0.00
------------ ------------ ------------ ------------
$ (0.01) $ (0.00) $ (0.01) $ 0.00
============ ============ ============ ============
Average number of shares outstanding:
Basic 121,140,504 121,140,504 121,140,504 121,140,504
============ ============ ============ ============
Diluted 122,044,080 122,671,794 122,044,080 122,671,794
============ ============ ============ ============
- 4 -
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--------------------------------------------------------------------------------
Brandmakers, Inc.
CONSOLIDATED STATEMENTS OF CASH FLOWS
Six Months Ended
December 31,
2000 2001
(unaudited) (unaudited)
------------ ------------
Net loss $ (1,232,938) $ (93,842)
Adjustments to reconcile net loss to net cash
provided by (used in) operating activities
Depreciation and amortization 130,009 110,592
Stock option expense 51,525 -
Write-off of K.W. Leisure Ltd. Goodwill 486,729 -
(Increase) decrease in assets and
Increase (decrease) in liabilities
Accounts receivable 479,609 43,032
Inventories (75,731) 118,389
Other current assets (17,449) -
Accounts payable 346,356 (19,308)
Accrued expenses (207,930) 29,892
Deferred Revenue - (63,716)
------------ ------------
Net cash provided by (used in) operating activities (39,821) 125,039
Cash flows used in investing activities
Capital expenditures - (42,485)
(Increase) decrease in deposits (1) (8,283)
Other changes in long term assets (14,877) (1,283)
------------ ------------
(14,878) (52,051)
Cash flows used in financing activities
Reductions in long term debt and
capital leases (145,551) (57,498)
Advances on notes payable 118,926 -
Reduction in line of credit - (40,422)
------------ ------------
(26,625) (97,820)
Net decrease in cash and cash equivalents (81,324) (24,932)
------------ ------------
Cash and cash equivalents at
beginning of the period 82,587 51,917
------------ ------------
Cash and cash equivalents at
end of the period 1,263 26,985
============ ============
SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES AND
CERTAIN CASH FLOW INFORMATION:
The Company's noncash investing and financing activities for the six-month
period ended December 31, 2001 are as follows:
There were no significant noncash investing and financing activities for the
six-month period ended December 31, 2001.
- 5 -
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--------------------------------------------------------------------------------
Brandmakers, Inc.
Notes to Consolidated Financial Statements
NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The summary of Brandmakers Inc.'s (the "Company") significant accounting policies are incorporated by reference to the Company's annual report on Form 10-KSB dated June 30, 2001.
The accompanying unaudited consolidated financial statements reflect all adjustments, which in the opinion of management are necessary for a fair presentation of results of operations, financial position, and cash flows. The results of the interim period are not necessarily indicative of the results for the full year.
The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. The Company has suffered from significant losses but a continued improvement in the current three-month period is encouraging. There are still financial difficulties with a negative working capital that must be overcome. Management's plan in regard to these matters is described in the management discussion and analysis. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.
From time to time, the Company may have asserted or unasserted claims arising in the normal course of business. The Company does not expect losses, if any, arising from these asserted or unasserted claims to have a material effect on the financial statements.
During December 2000, the Company made a decision to discontinue the operations of its United Kingdom operations of K. W. Leisure. The operations of the segment have ceased with a lawsuit still pending.
Item 2. Management's Discussion and Analysis
FORWARD-LOOKING STATEMENTS
This Quarterly Report on Form 10-QSB contains forward-looking statements. For this purpose, any statements contained herein that are not statements of historical fact may be deemed forward-looking statements. Without limiting the foregoing, the words "believe," "anticipates," "plans," "expects," and similar expressions are intended to identify forward-looking statements. There are a number of important factors that could cause the Company's actual results to differ materially from those indicated by such forward-looking statements. These factors include, without limitation, changes in the regulation of the wireless communication and internet industry at either the federal and state levels, competitive pressures in the wireless communication and internet industry and the Company's response thereto, the Company's ability to obtain and retain favorable arrangements with third-party payers, the Company's ability to obtain capital in favorable terms and conditions, and general conditions in this economy.
The following discussion of the Company's results of operations and financial conditions should be read in conjunction with the Company's condensed consolidated unaudited Financial Statements listed in Part I, Item I and the notes thereto appearing elsewhere in this Form 10-QSB.
- 6 -
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--------------------------------------------------------------------------------
COMPARISON OF THE RESULTS OF OPERATIONS FOR THE THREE MONTHS ENDED
DECEMBER 2001 AND 2000.
Revenue decreased 16.5% from $953,335 to $796,294 for the three months ended December 31, 2001 compared to December 31, 2000. Cost of sales were reduced significantly from $696,435 in 2000 to $418,920 in 2001 resulting in a gross profit of $377,374 for the December 31, 2001 period versus $256,900 for the December 31, 2000 period. Expenses for the three-month period were $367,974 in the 2001 period and after deducting interest expenses of $3,680, there was a profit of $5,720. Please see Recent Development for additional income and savings for the period. Expenses for the 2000 period were $293,052 and after deducting $35,994 in interest, there was a loss of $72,146 with an overall loss of $635,506 after the loss from discontinued operations of K.W. Leisure, Ltd. Revenues for ZOOM Communications were much lower in the 2001 period due, in part, to the phase out of wide area paging. Cost of goods sold were 53% of sales in the three month period ended December 31, 2001 versus 73% in the 2000 period. Revenues were up significantly for the Internet Division with a very low cost of sales in the 2001 period compared to the same period in 2000. The improvement in the gross profit in 2001 versus 2000 is attributed to the lower cost of goods sold due to the phaseout of wide area paging with very low profit margins because of competition and WebBox subscriptions providing significant income for the 2001 period. The WebBox subscription income commenced on February 1, 2001 and results in a very low cost of goods sold.
COMPARISON OF THE RESULTS OF OPERATIONS FOR THE SIX MONTH PERIOD ENDED
DECEMBER 2001 AND 2000.
Revenue decreased 22.3% from $2,087,110 from the six months ended December 31, 2000 to $1,621,277 for the six months ended December 31, 2001. Cost of sales were reduced significantly from $1,407,041 in 2000 to $853,323 in 2001 resulting in a gross profit of $767,954 for the December, 2001 period versus $680,069 for the December, 2000 period. Expenses for the six-month period in 2001 were $827,382 resulting in a loss after interest expense of $93,842. Expenses for the six-month period in 2000 were $1,130,638 and after interest expense of $99,690, there was a loss of $550,259 with a total loss of $1,232,938 after $682,679 from the loss of operations of K.W. Leisure. Revenues for ZOOM Communications were much lower in the 2001 period due, in part, to the phase out of wide area paging. Cost of goods sold were 53% of sales in the six month period ended December 31, 2001 versus 67% in the 2000 period. Revenues were up significantly for the Internet Division with a very low cost of sales for the 2001 period compared to the same period in 2000. The improvement in the gross profit in 2001 versus 2000 is attributed to the lower cost of goods sold due to the phaseout of wide area paging with very low profit margins because of competition and WebBox subscriptions providing significant income for the 2001 period. The WebBox subscription income commenced on February 1, 2001 and results in a very low cost of goods sold.
LIQUIDITY AND CAPITAL RESOURCES
Cash used in operating activities - the company's net cash flow from operating activities was $125,039 for the six month period ended December 31, 2001 compared to a deficit of $39,821 for the 2000 period. For the six months ended December 31, 2001, accounts receivable decreased by $43,032, compared to a decrease of $479,608 for the six months ended December 31, 2000. Inventories decreased by $118,389 during the six-month period in 2001 compared to an increase of $75,731 for the 2000 period. Other current assets were zero for the six-month period ended 2001 versus an increase of $17,449 for the six months ended 2000. Accounts payable decreased $19,308 for the six months ended December 31, 2001 compared to an increase of $346,356 for the 2000 period. Accrued expenses increased $29,892 for the six-month period ended December 31, 2001 versus an decrease of $207,930 for the like period in 2000. Deferred revenue recognized from WebBox sign ups was $63,716 for the 2001 period and none for the 2000 period. The net loss decreased significantly from $1,232,938 in the six-month period ended December 31, 2000 to $93,842 for the six-month period ended December 31, 2001. The 2000 period operating loss was $550,259 and the improvement in 2001 was due to a much lower cost of goods sold as well as reduced expenses.
- 7 -
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--------------------------------------------------------------------------------
Cash flow from Investing Activities - the company's net cash used in investing activities was $52,051 in the six month period ended December 31, 2001 versus $14,878 for the same period in 2000.
Cash flow from Financing Activities - the company's net cash flow from financing activities was a deficit of $97,920 for the six month period ended December 31, 2001 versus a deficit of $26,625 for the same period in 2000. During the 2001 period, there was a reduction of $40,422 on the line of credit with long-term debt and capital leases reduced by $57,498.
RECENT DEVELOPMENTS
The final three-month period for Brandmakers was difficult financially and additional income or savings was derived as follows:
a) Our insurance company reimbursed Brandmakers $24,343 for expenditures regarding the Jtech Lawsuit.
b) The officers and directors did not receive a paycheck on November 15, 2001 with paychecks continuing to be reduced for all personnel.
c) WebBox offered 10,000 subscribers to the service in 2001 to renew at $8 instead of $10 for the year. Over 2000 took advantage of the early renewal, generating in excess of $16,000 in December 2001.
ZOOM communications continues to phase out the competitive wide area paging and concentrate on the more profitable on-site paging systems. Server paging, guest paging, and manager paging products are all manufactured for ZOOM and sold via direct sales as well as through an extensive network of dealers and resellers. The Gift Card and Loyalty programs offer good potential as well.
The Gamosity division produces and manufactures vending machines and computerized games. Cellular phone vending machines allows for dispensing of prepaid cellular phones. Computer disk dispensing machines for floppy disks, zip disks, super disks and compact discs continue to be sold in small quantities for placement in colleges and universities.
The economic climate has been poor for many firms including Brandmakers and sales have not kept pace with expectations.
Part 2: OTHER INFORMATION
Item 1: LEGAL PROCEEDINGS
The lawsuit with K. W. Machines, Ltd. was still pending on December 31, 2001. However, the Judge in the State Court of Gwinnett County, Georgia ruled in favor of K. W. Machines Limited and granted the Motion for Summary Judgment on January 8, 2002. The judgment is for $320,000 and Brandmakers will attempt to reach an agreement with K. W. Machines, Ltd. for a substantially reduced amount on a payment plan.
- 8 -
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Item 2: CHANGES IN SECURITIES AND USE OF PROCEEDS
None
Item 3: DEFAULT UPON SENIOR SECURITIES
None
Item 4: SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.
None
Item 5: OTHER INFORMATION
None
Item 6: EXHIBITS AND REPORTS ON FORM 8-K
None
- 9 -
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--------------------------------------------------------------------------------
SIGNATURES
In accordance with the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
BRANDMAKERS, INC.
(Registrant)
February 12, 2002 By: /s/ Geoff Williams
----------------- ------------------
(Date) Geoff Williams,
Director & Chief Executive Officer
--------------------------------------------------------------------------------
End of Filing
Let's get this tire show on the road. When BMKS peaks next week I intend to take some money off the table and put it in the tire business.,
ZOOM is in for a great 2002, lots of new products :
Data Page II for Nursery
Data Page II for Restaurant
Data Page Teleconnect Analog
Data Page Teleconnect DIGITAL
Data Page II Intrigue Pager
Guest Paging Hints and Tips
Help and Service
Manager Call - Slave
NexCall Coaster Features & Benefits
Nexcall Coaster Instructions & Welcome Pack
On Site Paging Any Industry
Pager Options
PC Page Instructions
SurveyCheck Features & Benefits
Waiter Call 12 Master & Cxl Slave
Waiter Call 12
Waiter Call 18 Instructions vibe 2000
Flyers:
Church Nursery Flyer
NexCall Coaster Pager Flyer
E-Gift Flyer
Medical Flyer
PC Page Flyer
Retail Flyer
SurveyCheck Flyer
SurveyStation Flyer
Vibe Pager for Guest Flyer
Data Track 20 Flyer
Waiter Call 12 Flyer
ABOUT ZOOM COMMUNICATIONS
Zoom the communications division of Brandmakers focuses on innovative products for the hospitality industry. For almost 10 years Zoom has sold guest and server paging systems to customers such as Outback Steakhouse, Applebee's, Ruby Tuesday, Pizzeria Uno's, Logans Roadhouse and O'Charley's. As the company has grown we have moved into other markets, today selling communications systems to Hospitals, Churches, Dental Offices, Auto Dealerships and Day Spas.
Zoom manufactures a complete line of onsite paging systems including "NexCall" our new guest paging coaster system. NexCall, which was introduced at the National Restaurant Show in Chicago this past May is the most advanced guest paging system on the market today. Server paging, Guest paging and Manager paging products are all manufactured by Zoom. These products are sold via direct channels, as well as through an extensive network of Dealers and Resellers around the World. Zoom paging systems are used in every state in the US as well as Canada, Mexico and more than 20 other countries around the world, making Zoom a truly global company.
This year the division also introduced Zoom E-Gift. Together with Datamark Technology we brought to market a hospitality specific Gift Card and Loyalty program. This program replaces existing paper gift certificate programs which are hard to manage. Customers like J Crew, Brooks Brothers, Ruths' Chris and Café Enterprises all look to Zoom and Datamark to provide the best Gift Card and Loyalty programs the market has to offer.
Zoom has also moved into the managed data area with the introduction of Zoom E-Comment. Our company is the exclusive markerter of this "Touch-Screen" Electronic Comment Card manufactured by Supberb Serv Technologies. E-Comment takes the place of old paper comment cards and secret shopper services giving restaurants real time data. The program can be set up with Zoom managing the data or restaurants may choose to manager the information at their location.
Visit www.zoomcomm.com
Call the COMPANY, and ask Dave, since everyone is hoping that the $4.8MM will be used to pay the accountant to get the company relisted.
BMKS 10QSB filing 2/15/02, big turn-around on the books.
Big volume, no movement, what's the float?
CHANNEL PARTNERS & OEM CUSTOMERS
Brandmakers Inc.
Brandmakers of Atlanta Georgia, has developed and distributes a public access, multi-services kiosk product based on the ICIT TeleCenter. Brandmakers supplies ICIT America Channel Partners and Hospitality customers with branded MailStart and Web-Box content for InRoom Services.
Brandmakers and ICIT America will jointly operate skill based gaming entertainment with revenue share, to be available to ICIT America Channel Partners and Hospitality customers.
Copia Communications Inc.
Copia Communications is a wireless ISP company that operates in Jamaica and the Caribbean island states. Copia is the marketing and sales agent and licensed business operator for the InRoom TeleCenter licensed business, as a substantive "business overlay" and revenues generator for it’s Internet access "ISP" business.
Datavoice Solutions Inc.
DataVoice adds multiple applications value to the TeleCenter in an ASP model architecture, to distribute multiple telecommunications and ecommerce solutions to DataVoice customers and growing markets in Latin America and the Caribbean.
DataVoice also brings significant portal and content resources, in Spanish, to deliver a broad array of entertainment, information and news for Latin American emerging markets where TeleCenter is an attractive solution for non-PC oriented
HopitalityLinx - TELETECH
HospitalityLinx and iCit America have combined the data and voice solutions of TeleCenter with integrated voice and data telecom solutions from HospitalityLinx and AT&T. The value for the many Hotel customers of HospitalityLinx includes a complete voice and data services solution, including high-speed Internet and TeleCenter appliance installations while actually reducing costs! Additional revenue share opportunity is included!
HospitalityLinx is an AT&T Network solutions provider and will market the TeleCenter as a key component in their total solution product and service offering. ICit America will market the connectivity solutions of HospitalityLinx and contract for the installation and technical support services of Teletech, a HospitalityLinx related company.
IBFnet, Inc
IBFnet is a developer of Internet "e communications" software systems. IBFnet was set up as a Nortel master e-commerce/hosted applications reseller and has Nortel technology licenses to develop and operate B2B and B2C enabling information technologies and business infrastructure. ICIT America will integrate and offer IBFnet information service solutions in TeleCenter integrated applications, where TeleCenters offer dedicated and authenticated access to content and transactions in an easy to use, secure format.
IBFnet will promote and offer the TeleCenter as an industry and application specific system component to multiple industry (construction, hospitality) and multiple application (purchasing, reservation) business infrastructure sectors.
Interactive Network Connections Inc.
inc inc is a Value Added Distributor and Regional Services facility for ICIT America, serving the southwestern USA and area from offices in Las Vegas Nevada.
Inc inc delivers market research, market development and hosted facilities targeted to the Hospitality industry products of ICIT America and specifically, the Casino Resort facility market segment.
Kingsmen Communications
Kingsmen Communications joins iCit America as a VAR with excellent telecom solutions and services that compliment the value of TeleCenter installations in the hospitality sector. Kingsmen will also deploy “SyberCafe” facilities in Hotels throughout the Florida PanHandle based on the TeleCenter product and network platform.
Lasoo Inc.
Lasoo Inc. and iCit America have entered into an agreement to incorporate the GPS encoded data-base and retrieval tools of Lasoo into services available to Hotel guests on the InRoom TeleCenters. An Internet based service, guests will be able to quickly locate, see a map and if they wish call, a wide range of businesses and services, such as specialty restaurants, shopping, health services, etc.
Lasoo technology delivers easy and valuable access to local content, on-demand and for a wide range of categories. Dynamic map displays provide easy access as well as contact information. GPS encoded data for most of North America is available, with dynamic local database generation for fast and inexpensive retrieval.
N-Able Technologies
N-able Technologies™ is a leading software vendor providing Central Point of Management solutions for Pervasive technologies. N-able Technologies™ designs, develops and delivers scalable, reliable and cost effective Central Point of IT Management solutions to the business market. Through direct sales, as well as an indirect Web-based distribution model, N-able Technologies provides a single Web-based interface for clients to monitor and administer their key network elements across multiple platforms.
PantherNet Communications Inc.
PantherNet is an install, own and operate business which implements the ICIT America InRoom TeleCenter Hospitality system in Hotels.
PantherNet offers iClass TeleCenter solutions for Internet access and telecommunications services in airports and airline lounges.
SMS Technologies, Inc.
ICIT America has been contracted to create an OEM TeleCenter product and branding solution for services delivery by SMS Technologies and its affiliate companies—SMS Management Services and SMS Tax Incentives Group—to its hundreds of corporate clients operating from more than 90,000 locations.
SMS screens and assesses more than four million employment candidates each year and will offer SMS branded TeleCenter-based automated service access to its customers from tens of thousands of locations throughout North America.
Summit Communications Inc.
Operating in the greater St. Louis area, Summit Communications markets the Brandmakers Business Center Kiosk based on the iCit America TeleCenter. Summit is also the authorized InRoom TeleCenter marketing and sales agent for iCit America in the greater St. Louis area.
Travelinx
iCit America and Travelinx have entered into a cross marketing and supplier agreement, to deploy Travelinx premier travel and tourism local events, reservations and ticketing engine designed to deliver content and transactions to TeleCenter installations in hospitality and retail locations. In addition, Travelinx will deploy white label TeleCenter solutions in retail locations where destinations marketing and transactions are complimentary to the retailers products and customers.
Travelinx brings compelling ecommerce, call center, ticketing and reservation solutions to the hospitality markets served by iCit America. The Travelinx platform is an Oracle web-based industrial commercial grade system with more than 70 man years of development and proven performance through operation in systems such as Tourism Ontario.
Venbridge
Venbridge's team has a vast range of experience gained in the technology industry, as well as a deep knowledge of strategy and new business models. Members of Venbridge have been responsible for the management of multi-million dollar businesses as well as pioneering the start of new enterprises.
Venbridge's mission is to help talented entrepreneurs and company leaders build great companies that can transform entire industries and create new markets. Venbridge has assisted start-up companies in finding capital and has helped established entities transform themselves for renewed growth, Venbridge is a true business partner to its clients. Venbridge takes time to listen to clients, understand their business and create innovative solutions to achieve their objectives.
.02 is not bad if it's the bottom.
We should open up tomorrow and may even gap up. Several people I know are buying as well as me.
Income Statement Balance Sheet Cash Flow Statement
Period Ending: Sep 30, 2001 Jun 30, 2001 Mar 31, 2001 Dec 31, 2000
Total Revenue $824,983 $1,004,909 $942,057 $914,506
Cost Of Revenue $434,403 $607,137 $429,705 $662,288
Gross Profit $390,580 $397,772 $512,352 $252,218
Operating Expenses
Research And Development N/A N/A ($68,831) $6,794
Selling General And Administrative Expenses $404,112 $354,132 $781,759 $116,473
Non Recurring N/A N/A N/A N/A
Other Operating Expenses $55,296 $220,567 ($110,478) $45,784
Operating Income ($68,828) ($176,927) ($90,098) $83,167
Total Other Income And Expenses Net N/A $14,784 N/A N/A
Earnings Before Interest And Taxes ($68,828) ($162,143) ($90,098) $83,167
Interest Expense $30,734 $61,014 $27,922 $35,994
Income Before Tax ($99,562) ($223,157) ($118,020) $47,173
Income Tax Expense N/A N/A N/A N/A
Equity Earnings Or Loss Unconsolidated Subsidiary N/A N/A N/A N/A
Minority Interest N/A N/A N/A N/A
Net Income From Continuing Operations ($99,562) ($223,157) ($118,020) $47,173
Nonrecurring Events
Discontinued Operations N/A ($27,796) N/A ($682,679)
Extraordinary Items N/A N/A N/A N/A
Effect Of Accounting Changes N/A N/A N/A N/A
Other Items N/A N/A N/A N/A
Net Income ($99,562) ($250,953) ($118,020) ($635,506)
Preferred Stock And Other Adjustments N/A N/A N/A N/A
Net Income Applicable To Common Shares ($99,562) ($250,953) ($118,020) ($635,506)
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I'll kick in $500 for the present
Hope you can arrange the marriage
Give Geoff a call, he may not take it, see if you can dig
something up.
10QSB, Filing on 2/15/02 should show big improvements. It may be sold before then, expect major action as the clock ticks down to 2/25/02.
Not much stock out there to glom
Looking good, lots of promise
Great news, this baby will not be on the pinks for long
Should be a PR in two weeks, then this stock will rock and roll
He gets one right once in a while, but has picked some real dogs
I bought from a tip from a friend
This is my only "pink" no CPA oversight and since they don't file with the SEC we don't know the numbers. This is not bashing, just facts.
I concur, the pinks suck.
MGM office is in "The peoples republic Of Santa Monica " on
Colorado Blvd, very nice French restaurant in their building, send our sales team out.
If only we could get Laforza as the trendy Beverly Hills set vehicle of choice, we would have it made. Maybe we should loan one to a "name" and get it seen around town
My wife has just bought a Toyoto Highlander
We need to get the motor running on LFZA
Let's get the show on the road
Our chairmen now has photos of the site area vicinity. I am sure he will make these available on a selective basis i.e to non-bashers
I have just picked up some more, it will not stay cheap for much longer.
Look at the returns at the current price.
November 15, 2001
BRANDMAKERS INC (BMKS.OB)
Quarterly Report (SEC form 10QSB)
Item 2. Management's Discussion and Analysis
FORWARD-LOOKING STATEMENTS
This Quarterly Report on Form 10-QSB contains forward-looking statements. For this purpose, any statements contained herein that are not statements of historical fact may be deemed forward-looking statements. Without limiting the foregoing, the words "believe," "anticipates," "plans," "expects," and similar expressions are intended to identify forward-looking statements. There are a number of important factors that could cause the Company's actual results to differ materially from those indicated by such forward-looking statements. These factors include, without limitation, changes in the regulation of the wireless communication and internet industry at either the federal and state levels, competitive pressures in the wireless communication and internet industry and the Company's response thereto, the Company's ability to obtain and retain favorable arrangements with third-party payers, the Company's ability to obtain capital in favorable terms and conditions, and general conditions in this economy.
The following discussion of the Company's results of operations and financial conditions should be read in conjunction with the Company's condensed consolidated unaudited Financial Statements listed in Part I, Item I and the notes thereto appearing elsewhere in this Form 10-QSB.
COMPARISON OF THE RESULTS OF OPERATIONS FOR THE THREE MONTHS ENDED
September 2001 and 2000.
Revenue decreased 27.2% from $1,133,775 to $824,983 for the three months ended September 30, 2001 compared to September 30, 2000. Cost of sales for the period were $434,403 versus $710,606 resulting in a gross profit of $390,580 for September 30, 2001 compared to $423,169 for September 30, 2000. Expenses for the three month period were $459,408 for 2001 versus $837,586 in 2000. Consequently, after interest expenses of $30,734, there was a loss of $99,562 for the period ended September 30, 2001 compared to a loss of $597,432 after interest expenses of $63,696 for the period ended September 30, 2000. The net loss for the period ended September 30, 2000 includes losses from discontinued operations of K.W. Leisure Ltd. of $119,319.
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LIQUIDITY AND CAPITAL RESOURCES
Cash used in operating activities - The Company's net cash flow from operating activities resulted in deficits of $87,762 for the three-month period ended September 30, 2001 compared to a deficit of $131,865 for the same period in 2000. For the three-month period ended September 30, 2001 accounts receivable decreased by $18,721 and accounts payable increased by $69,948. Inventories decreased by $39,507 during the three-month period in 2001 as compared to an increase of $95,552 for the 2000 period. Accrued expenses increased by $8,253 during the three-month period ended September 30, 2001, while deferred revenue for WebBox sign ups decreased by $4,363 from $267,108 to $262,745. The deficit decreased significantly from $597,432 in the period ended September 30, 2000 to $99,562 in 2001 due to significantly lower operating expenses. The cost of goods sold was much lower as a percent of sales due, in part, to the low cost of WebBox sign ups during the current three month period.
Cash flow from Investing Activities- The Company's net cash used in investing activities was $20,233 for the three months ended September 30, 2001 versus $29,419 for the same period in 2000.
Cash Flow from Financing activities- The company's net cash flow from financing activities was a deficit of $86,891 for the three-month period ended September 30, 2001 versus an increase of $148,071 for the same period in 2000. During the 2001 three-month period, notes payable, long term debt and capital leases were reduced by $53,601 while net payments on the line of credit totaled $33,380.
RECENT DEVELOPMENTS
In a continuing effort to reduce expenses, Brandmakers employees' salaries were reduced by 20% while officers' salaries were reduced by 30% to 50%. Rental expenses were reduced by $2,000 per month during the quarter as well.
The Internet division continues the subscription program on WebBox while offering free email once per week on MailStart. WebBox subscriptions were increased on July 1, 2001 from $6 to
$10 annually. As of November 6, 2001 over 84,000 credit cards had been charged for this program. Recurring income will commence February 1, 2002 allowing for further upgrades and service features as well as additional promotional programs.
ZOOM Communications continues to phase out the competitive wide area paging and concentrate on the more profitable on-site paging systems. Server paging, guest paging, and manager paging products are all manufactured for ZOOM and sold via direct sales as well as through an extensive network of dealers and resellers. The Gift Card and Loyalty programs offer good potential as well.
The Gamosity division produces and manufactures vending machines and computerized games. Cellular phone vending machines allows for dispensing of prepaid cellular phones. Computer disk dispensing machines for floppy disks, zip disks, super disks and compact discs continue to be sold in small quantities for placement in colleges and universities.
The economic climate has been poor for many firms including Brandmakers and sales have not kept pace with expectations.
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BMKS is a turnaround stock at 1 cent, they will file their 10QSB IN 2 WEEKS, 10KSB on file.
Thanks I'll take a look on the Canadian side as well. The precious metals are there, getting it out is what's tricky.
You are correct, your driving maybe at little flatter. I was
planning to head up I-5 and go East at Bellingham.
I think it's going to look a lot better in a few weeks
You are nearer than I am, I think. Where is Winthrop?
I am in Seattle, but will drive over and prospect 25 th November.
Will do, I will also look on the Canadian side.
I am getting ready for take off by adding to my stash
Thanks, we expect good things for IAMR in the coming weeks. I
live 4 hours drive from the mining site.