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lol ERFB
Legal Demand Has Been Made to Cancel 700 Million-Plus Wrongfully Issued ERF Wireless Common Shares
ERF Wireless (http://www.erfwireless.com) was founded in 2004 as a "Critical Communications Infrastructure" company
Dallas, Texas - June 29, 2017 - (Newswire.com)
ERF WIRELESS, INC. ("ERF") (OTC PINK: ERFB) President and CEO, Dr. John Barnett today announced that demand has been made on ERF, Wireless for 700 million-plus ERF Wireless Common Shares to be canceled, due to these shares not being legally approved by the majority of the companies Class “A” Preferred shares.
The company recently hired special counsel to look into possible wrongful issuances of shares by prior management, which resulted in several hundred million shares being issued in a very short time frame back in 2014 and which has continued to date. The investigation is now complete and new management with its Special Counsel is currently in discussions with the majority holders of the Class “A” Preferred stock, after investigation findings concluded that millions of shares were issued by past management, and its agents in concert with various Convertible Debenture Note Lenders without the necessary legal approval of the majority of the Class “A” Preferred Shareholders. Special Counsel is currently in ongoing discussions with the Class ”A” Preferred Shareholders regarding what appears to be a massive amount of wrongfully issued shares that resulted from numerous conversions by various convertible lenders whom are believed to have been acting in concert for many years.
Dr. Barnett stated, “When these discussions and negotiations are completed, we will keep our legitimate shareholders and the public updated as to any new developments.”
ERF Wireless (http://www.erfwireless.com) was founded in 2004 as a “Critical Communications Infrastructure” company applying advanced wireless broadband technology and other communications technology to a select suite of enterprise, commercial and retail critical communications needs. ERF has historically offered high-speed wireless broadband products and services to specialized critical communications needs, such as banking, healthcare, education and oil and gas.
Forward-Looking Statements
This press release contains forward-looking statements that involve numerous risks and uncertainties. Actual results, performance or achievements could differ materially from those anticipated in such forward-looking statements as a result of certain factors, including those set forth in the Company's filings with the Securities and Exchange Commission.
For more information:
Dr. John Barnett
C.E.O.- ERF Wireless, Inc.
725-696-3282
drjohnbarnettmd@gmail.com
http://www.digitaljournal.com/pr/3398273
$ERFB ERF Wireless..The deployment of advanced oilfield communication technologies and solutions such as VSAT, WiMax, TETRA networks enable oil and gas companies to reduce their overall costs significantly. Various other factors such as increasing demand for offshore oilfield communication solutions, increasing ICT expenditure, and telecom-based technological growth are catalyzing the overall growth of the oilfield communications market globally.
Alcatel-Lucent, Huawei Technologies, Harris CapRock, Inmarsat, and ERF Wireless are some of the prominent players which are providing reliable oilfield communication solutions and services. MarketsandMarkets forecasts the global oilfield communications market to grow from USD 2.6 billion in 2015 to USD 3.7 billion in 2020, at a Compound Annual Growth Rate (CAGR) of 7.4% during the forecast period of 2015-2020. Over the next 5 years, this market is expected to experience high traction in North America (NA), and the Middle East and Africa (MEA) regions.
https://www.24marketreports.com/ict-and-media/oilfield-communications-market-by-communication-technologies-cellular-network-voip-unified-communications-m2m-microwave-communication-wimax-vsat-tetra-fiber-optics-wan-lan-band-type-l-band-ku-band-hts---global-forecast-to-2020
$ERFB..major vendors such as Alcatel-Lucent, ERF Wireless,.....
May 5,2017
New York City, NY, May 5, 2017/24 Market Reports: Oilfield communications technologies and solutions are defined and judged by the capability to reduce the time, cost and required expertise to enable communication between oilfields in harsh environments. The solutions are primarily responsible for achieving the high operational efficiency targets set by the oil and gas companies. This market considers revenue from communication network technologies, solutions, field sites, and services for oilfield communication.
Communication network technology serves as a communication linkage and performs interconnectivity across heterogeneous operation systems and telecommunication networks. The communication network technology market is subdivided into five segments, namely, cellular network, VSAT network, fibre opticbased communication network, microwave communication network and TETRA network. Services refer to the major services offered by oilfield communications vendors such as professional services, cloud hosting, and system integration services. Solutions comprise upstream communications solutions, midstream communications solutions, and downstream communications solutions. The oilfield communications market by field site consists of onshore and offshore markets.
Though the market is approaching a maturity stage, still it is evolving at a moderate pace with the discovery of new offshore oilfields in the South American and MEA regions. The major vendors such as Alcatel-Lucent, ERF Wireless, Harris CapRock, Hermes Data Communications, Huawei Technologies, and RigNet are looking for strategic partnerships and agreements along with mergers and acquisitions to expand their presence and gain a bigger market share. Recent developments such as multi-million dollar contracts signed by RigNet and Harris CapRock and acquisition of companies such as Octoplan by Alcatel-Lucent, PureWave Networks by RedLine Communication LLC. are the live testimonials of the expansion strategies adopted by companies.
Across the regions, North America already has a well-established oilfield communications market with extensive implications across its oil and gas industry. North America and MEA both are growing at a moderate rate; however, Europe and APAC are observing incremental growth and are significantly showcasing a rise in the adoption of oilfield communications technology.
The oilfield communications research report outlines the key trends and market sizing, and forecasting for emerging technologies for oilfield communications sector. The report also emphasizes on key global adoption trends, future growth potential submarkets, key drivers, competitive outlook, restraints, opportunities, and oilfield communications market ecosystem. Some of the potential and emerging technologies and solutions for oilfield communications include Machine to Machine (M2M) communication, unified communication, video conferencing, and WiMax.
https://www.24marketreports.com/news/oilfield-communications-market-forecast-to-2020
Browse Full Report at :- https://www.24marketreports.com/ict-and-media/oilfield-communications-market-by-communication-technologies-cellular-network-voip-unified-communications-m2m-microwave-communication-wimax-vsat-tetra-fiber-optics-wan-lan-band-type-l-band-ku-band-hts---global-forecast-to-2020
loving hits at 50 53 today, soon
well my bad bids up 100%
Bid was .0027 now .0050 doing quite well
$ERFB looks even better VNDM back @.01 thhinning look like .0060 coming
2016 they had 2 ships dry docked maintenance, repair, upgrades ect.
2016 10k MD&A page 17
The decrease in sales resulted primarily from the increase in dry-docking expenses incurred as a result of the repair and maintenance of two of our vessels, which consequently caused a reduction in shipments and deliveries of our products.
Total operating expenses for the year ended December 31, 2016 and 2015 were $5,402,265 and $4,709,548, respectively, an increase of $692,716, or approximately 14.7%. The increase in operating expenses is primarily due to increased administrative, US travel, legal and accounting expenses in the aggregate of approximately $524,000 as a result of the merger transaction and public company expenses. This increase was offset by lower fleet operating expenses due to the decrease in shipment of barrels from the 2015 period compared to 2016 period.
https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11995179
no mention of dry docked ship in Q1 so revenue should increase
$ERFB Great thank for the update.
$SMDM Singing Machine Reports Fiscal 2017 Annual Earnings Report
•June 29, 2017Comment
FORT LAUDERDALE, FL--(Marketwired - Jun 29, 2017) - The Singing Machine Company, Inc. ("Singing Machine" or the "Company") ( OTCQX : SMDM ) -- the North American leader in consumer karaoke products -- today announced its financial results for its full fiscal year ended March 31, 2017.
Full Fiscal 2017 Highlights:
$0.04 earnings per share; EBITDA earnings per share of $0.07 on a fully diluted basis.
Net sales for the fiscal year increased by 8% to $52.9 million.
Gross margin for the year improved by 1.7% to 26.1%.
Net income before tax for the fiscal year increased by $1.1 million (or 70%) to $2.7 million.
Net income for the fiscal year of $1.7 million.
Paid down approximately $1.1 million in related party debt.
80% YoY increase in digital music sales.
Singing Machine reports net sales of approximately $52.9 million for the March 31, 2017 fiscal year-end period, compared to approximately $48.9 million in the prior year. The increase in net sales is primarily due to an increase in sales to three of the Company's top retailers and an increase in on-line shopping. Some of the increase was also attributable to increased demand for product internationally...
https://finance.yahoo.com/news/singing-machine-reports-fiscal-2017-110000640.html
$SMDM 0.46 RESULTS OF OPERATIONS EPS 0.04..FY 3/31/17
Number of shares of common stock outstanding as of June 29, 2017 was 38,259,303
FISCAL YEAR ENDED MARCH 31, 2017 COMPARED WITH FISCAL YEAR ENDED MARCH 31, 2016
NET SALES
Net sales for the year ended March 31, 2017 (“Fiscal 2017”) were approximately $52.9 million. This represents an increase of approximately $4.0 million as compared to approximately $48.9 million in the fiscal year ended March 31, 2016 (“Fiscal 2016”). There was an increase in sales to one major customer of approximately $3.8 million due to one additional promotional product offered to its customers. There was an increase of approximately $1.0 million in sales to two major retail customers due to continued increased popularity in on-line shopping. There was an increase of approximately $0.4 million in international sales due to increased number of products sold to our United Kingdom distributor. These increases of $5.2 million were offset by an approximate $1.2 million reduction in sales to one major retail customer due to poor placement in stores in an area that had less foot traffic.
GROSS PROFIT
Gross profit for Fiscal 2017 was approximately $13.8 million or 26.1% of total revenues compared to approximately $11.9 million or 24.4% of sales for Fiscal 2016 (an increase of approximately $1.9 million). The increase in net sales as explained above accounted for approximately $0.9 million or approximately 47% of the increase with the remaining increase due to increase in gross profit margin.
Gross profit margin for the year ended March 31, 2017 compared to the same period ended March 31, 2016 increased by approximately 1.7 margin points from 24.4% to 26.1%. This increase was primarily due increased profit margins on the download product line hardware introduced during the year as compared to gross profit margin on the traditional product offerings.
OPERATING EXPENSES
In fiscal year 2017, our operating expenses, including depreciation, increased from approximately $10.0 million to approximately $10.9 million, an increase of approximately $0.9 million or 9% compared to the same period last year. Selling expenses increased by approximately $0.4 million, from $4.7 million in Fiscal 2016 to $5.0 million in Fiscal 2017. The increase was primarily due to the increase in variable selling expenses associated with the 8.3% increase in net sales as explained above.
General and administrative expenses increased approximately $0.5 million from approximately $5.2 million in Fiscal 2016 to approximately $5.7 million in Fiscal 2017. There was an increase in payroll of approximately $0.2 million primarily due to increased executive bonuses, merit pay increases and new hires in the logistics and customer service group. There was an increase of approximately $0.2 million in related-party service charges for additional services provided by the Sinostar Group during the fiscal year. The remaining increase of approximately $0.1 million due to other variable expenses associated with the increase in sales as well as the increase in third party logistics services provided to non-related parties.
INCOME BEFORE INCOME TAX (PROVISION) BENEFIT
We had income before taxes of approximately $2.7 million in Fiscal 2017 compared to income before taxes of approximately $1.6 million in Fiscal 2016. This increase of approximately $1.1 million was primarily due to the combination of the increase in gross profit of approximately $1.9 million due to the increase in sales and gross profit margin as explained in Net Sales and Gross Profit above, offset by the increase in operating and other expenses of approximately $0.8 million as explained in Operating Expenses above.
INCOME TAX (PROVISION) BENEFIT
Significant management judgment is required in developing our provisions for income taxes, including the determination of foreign tax liabilities, deferred tax assets and liabilities and any valuation allowances that might be required against deferred tax assets. Management evaluates its ability to realize its deferred tax assets on a quarterly basis and adjusts its valuation allowance when it believes that it is not likely to be realized. On March 31, 2017 and 2016, we had net deferred tax assets of approximately $1.5 million and approximately $2.4 million, respectively.
In Fiscal 2017 we recognized an income tax net provision of approximately $1.0 million based on our net income before income tax provision $2.7 million and our effective tax rate of 37.3% Given the past six years of profitability, management’s assessment of the current business climate and expected future profits, it is more likely than not that all of the deferred tax assets will be realized before they expire.
In Fiscal 2016 we recognized an income tax net benefit of approximately $0.1 million consisting of an income tax provision of approximately $0.6 million based on our net income before income tax (provision) benefit of approximately $1.7 million and our effective tax rate of 37.8% offset by the reversal of the remaining valuation allowance of approximately $0.8 million.
We operate within multiple taxing jurisdictions and are subject to audit in those jurisdictions. Because of the complex issues involved, any claims can require an extended period to resolve. In management's opinion, adequate provisions for income taxes have been made.
NET INCOME
As a result of the foregoing, we had net income of approximately $1.7 million in both Fiscal 2017 and Fiscal 2016.
https://www.otcmarkets.com/stock/SMDM/profile
Management will host a conference call at 10:00 am Eastern time
FORT LAUDERDALE, FL--(Marketwired - Jun 26, 2017) - The Singing Machine Company, Inc. ("Singing Machine" or the "Company") (OTCQX: SMDM) -- the North American leader in consumer karaoke products -- today announced that its earnings for the full fiscal year ended March 31, 2017 will be released the morning of Thursday, June 29, 2017. That same day, Management will host a conference call at 10:00 am Eastern time to discuss the financial results.
If you would like to participate on the call, please dial 866-342-8591 and use conference ID: SMDM.
About The Singing Machine
Singing Machine(R) is the worldwide leader in consumer karaoke products. The first to provide karaoke systems for home entertainment in the United States, the Company sells its products world-wide through major mass merchandisers and on-line retailers. We offer the industry's widest line of at-home karaoke entertainment products, which allow consumers to find a machine that suits their needs and skill level. As the most recognized brand in karaoke, Singing Machine products incorporate the latest technology for singing practice, music listening, entertainment and social sharing. The Singing Machine provides consumers the best warranties in the industry and access to over 13,000 songs for streaming and download. Singing Machine products are sold through most major retailers in North America and also internationally. See www.singingmachine.com for more details.
Management will host a conference call at 10:00 am Eastern time
FORT LAUDERDALE, FL--(Marketwired - Jun 26, 2017) - The Singing Machine Company, Inc. ("Singing Machine" or the "Company") (OTCQX: SMDM) -- the North American leader in consumer karaoke products -- today announced that its earnings for the full fiscal year ended March 31, 2017 will be released the morning of Thursday, June 29, 2017. That same day, Management will host a conference call at 10:00 am Eastern time to discuss the financial results.
If you would like to participate on the call, please dial 866-342-8591 and use conference ID: SMDM.
About The Singing Machine
Singing Machine(R) is the worldwide leader in consumer karaoke products. The first to provide karaoke systems for home entertainment in the United States, the Company sells its products world-wide through major mass merchandisers and on-line retailers. We offer the industry's widest line of at-home karaoke entertainment products, which allow consumers to find a machine that suits their needs and skill level. As the most recognized brand in karaoke, Singing Machine products incorporate the latest technology for singing practice, music listening, entertainment and social sharing. The Singing Machine provides consumers the best warranties in the industry and access to over 13,000 songs for streaming and download. Singing Machine products are sold through most major retailers in North America and also internationally. See www.singingmachine.com for more details.
$SMDM 0.46 RESULTS OF OPERATIONS EPS 0.04..FY 3/31/17
Number of shares of common stock outstanding as of June 29, 2017 was 38,259,303
FISCAL YEAR ENDED MARCH 31, 2017 COMPARED WITH FISCAL YEAR ENDED MARCH 31, 2016
NET SALES
Net sales for the year ended March 31, 2017 (“Fiscal 2017”) were approximately $52.9 million. This represents an increase of approximately $4.0 million as compared to approximately $48.9 million in the fiscal year ended March 31, 2016 (“Fiscal 2016”). There was an increase in sales to one major customer of approximately $3.8 million due to one additional promotional product offered to its customers. There was an increase of approximately $1.0 million in sales to two major retail customers due to continued increased popularity in on-line shopping. There was an increase of approximately $0.4 million in international sales due to increased number of products sold to our United Kingdom distributor. These increases of $5.2 million were offset by an approximate $1.2 million reduction in sales to one major retail customer due to poor placement in stores in an area that had less foot traffic.
GROSS PROFIT
Gross profit for Fiscal 2017 was approximately $13.8 million or 26.1% of total revenues compared to approximately $11.9 million or 24.4% of sales for Fiscal 2016 (an increase of approximately $1.9 million). The increase in net sales as explained above accounted for approximately $0.9 million or approximately 47% of the increase with the remaining increase due to increase in gross profit margin.
Gross profit margin for the year ended March 31, 2017 compared to the same period ended March 31, 2016 increased by approximately 1.7 margin points from 24.4% to 26.1%. This increase was primarily due increased profit margins on the download product line hardware introduced during the year as compared to gross profit margin on the traditional product offerings.
OPERATING EXPENSES
In fiscal year 2017, our operating expenses, including depreciation, increased from approximately $10.0 million to approximately $10.9 million, an increase of approximately $0.9 million or 9% compared to the same period last year. Selling expenses increased by approximately $0.4 million, from $4.7 million in Fiscal 2016 to $5.0 million in Fiscal 2017. The increase was primarily due to the increase in variable selling expenses associated with the 8.3% increase in net sales as explained above.
General and administrative expenses increased approximately $0.5 million from approximately $5.2 million in Fiscal 2016 to approximately $5.7 million in Fiscal 2017. There was an increase in payroll of approximately $0.2 million primarily due to increased executive bonuses, merit pay increases and new hires in the logistics and customer service group. There was an increase of approximately $0.2 million in related-party service charges for additional services provided by the Sinostar Group during the fiscal year. The remaining increase of approximately $0.1 million due to other variable expenses associated with the increase in sales as well as the increase in third party logistics services provided to non-related parties.
INCOME BEFORE INCOME TAX (PROVISION) BENEFIT
We had income before taxes of approximately $2.7 million in Fiscal 2017 compared to income before taxes of approximately $1.6 million in Fiscal 2016. This increase of approximately $1.1 million was primarily due to the combination of the increase in gross profit of approximately $1.9 million due to the increase in sales and gross profit margin as explained in Net Sales and Gross Profit above, offset by the increase in operating and other expenses of approximately $0.8 million as explained in Operating Expenses above.
INCOME TAX (PROVISION) BENEFIT
Significant management judgment is required in developing our provisions for income taxes, including the determination of foreign tax liabilities, deferred tax assets and liabilities and any valuation allowances that might be required against deferred tax assets. Management evaluates its ability to realize its deferred tax assets on a quarterly basis and adjusts its valuation allowance when it believes that it is not likely to be realized. On March 31, 2017 and 2016, we had net deferred tax assets of approximately $1.5 million and approximately $2.4 million, respectively.
In Fiscal 2017 we recognized an income tax net provision of approximately $1.0 million based on our net income before income tax provision $2.7 million and our effective tax rate of 37.3% Given the past six years of profitability, management’s assessment of the current business climate and expected future profits, it is more likely than not that all of the deferred tax assets will be realized before they expire.
In Fiscal 2016 we recognized an income tax net benefit of approximately $0.1 million consisting of an income tax provision of approximately $0.6 million based on our net income before income tax (provision) benefit of approximately $1.7 million and our effective tax rate of 37.8% offset by the reversal of the remaining valuation allowance of approximately $0.8 million.
We operate within multiple taxing jurisdictions and are subject to audit in those jurisdictions. Because of the complex issues involved, any claims can require an extended period to resolve. In management's opinion, adequate provisions for income taxes have been made.
NET INCOME
As a result of the foregoing, we had net income of approximately $1.7 million in both Fiscal 2017 and Fiscal 2016.
https://www.otcmarkets.com/stock/SMDM/profile
PGAS..look like a hold new bunch found it..:)
No doubt PGAS is getting found
$SMDM 0.46 RESULTS OF OPERATIONS EPS 0.04..FY 3/31/17
Number of shares of common stock outstanding as of June 29, 2017 was 38,259,303
FISCAL YEAR ENDED MARCH 31, 2017 COMPARED WITH FISCAL YEAR ENDED MARCH 31, 2016
NET SALES
Net sales for the year ended March 31, 2017 (“Fiscal 2017”) were approximately $52.9 million. This represents an increase of approximately $4.0 million as compared to approximately $48.9 million in the fiscal year ended March 31, 2016 (“Fiscal 2016”). There was an increase in sales to one major customer of approximately $3.8 million due to one additional promotional product offered to its customers. There was an increase of approximately $1.0 million in sales to two major retail customers due to continued increased popularity in on-line shopping. There was an increase of approximately $0.4 million in international sales due to increased number of products sold to our United Kingdom distributor. These increases of $5.2 million were offset by an approximate $1.2 million reduction in sales to one major retail customer due to poor placement in stores in an area that had less foot traffic.
GROSS PROFIT
Gross profit for Fiscal 2017 was approximately $13.8 million or 26.1% of total revenues compared to approximately $11.9 million or 24.4% of sales for Fiscal 2016 (an increase of approximately $1.9 million). The increase in net sales as explained above accounted for approximately $0.9 million or approximately 47% of the increase with the remaining increase due to increase in gross profit margin.
Gross profit margin for the year ended March 31, 2017 compared to the same period ended March 31, 2016 increased by approximately 1.7 margin points from 24.4% to 26.1%. This increase was primarily due increased profit margins on the download product line hardware introduced during the year as compared to gross profit margin on the traditional product offerings.
OPERATING EXPENSES
In fiscal year 2017, our operating expenses, including depreciation, increased from approximately $10.0 million to approximately $10.9 million, an increase of approximately $0.9 million or 9% compared to the same period last year. Selling expenses increased by approximately $0.4 million, from $4.7 million in Fiscal 2016 to $5.0 million in Fiscal 2017. The increase was primarily due to the increase in variable selling expenses associated with the 8.3% increase in net sales as explained above.
General and administrative expenses increased approximately $0.5 million from approximately $5.2 million in Fiscal 2016 to approximately $5.7 million in Fiscal 2017. There was an increase in payroll of approximately $0.2 million primarily due to increased executive bonuses, merit pay increases and new hires in the logistics and customer service group. There was an increase of approximately $0.2 million in related-party service charges for additional services provided by the Sinostar Group during the fiscal year. The remaining increase of approximately $0.1 million due to other variable expenses associated with the increase in sales as well as the increase in third party logistics services provided to non-related parties.
INCOME BEFORE INCOME TAX (PROVISION) BENEFIT
We had income before taxes of approximately $2.7 million in Fiscal 2017 compared to income before taxes of approximately $1.6 million in Fiscal 2016. This increase of approximately $1.1 million was primarily due to the combination of the increase in gross profit of approximately $1.9 million due to the increase in sales and gross profit margin as explained in Net Sales and Gross Profit above, offset by the increase in operating and other expenses of approximately $0.8 million as explained in Operating Expenses above.
INCOME TAX (PROVISION) BENEFIT
Significant management judgment is required in developing our provisions for income taxes, including the determination of foreign tax liabilities, deferred tax assets and liabilities and any valuation allowances that might be required against deferred tax assets. Management evaluates its ability to realize its deferred tax assets on a quarterly basis and adjusts its valuation allowance when it believes that it is not likely to be realized. On March 31, 2017 and 2016, we had net deferred tax assets of approximately $1.5 million and approximately $2.4 million, respectively.
In Fiscal 2017 we recognized an income tax net provision of approximately $1.0 million based on our net income before income tax provision $2.7 million and our effective tax rate of 37.3% Given the past six years of profitability, management’s assessment of the current business climate and expected future profits, it is more likely than not that all of the deferred tax assets will be realized before they expire.
In Fiscal 2016 we recognized an income tax net benefit of approximately $0.1 million consisting of an income tax provision of approximately $0.6 million based on our net income before income tax (provision) benefit of approximately $1.7 million and our effective tax rate of 37.8% offset by the reversal of the remaining valuation allowance of approximately $0.8 million.
We operate within multiple taxing jurisdictions and are subject to audit in those jurisdictions. Because of the complex issues involved, any claims can require an extended period to resolve. In management's opinion, adequate provisions for income taxes have been made.
NET INCOME
As a result of the foregoing, we had net income of approximately $1.7 million in both Fiscal 2017 and Fiscal 2016.
https://www.otcmarkets.com/stock/SMDM/profile
$SMDM 0.46 RESULTS OF OPERATIONS EPS 0.04..FY 3/31/17
FISCAL YEAR ENDED MARCH 31, 2017 COMPARED WITH FISCAL YEAR ENDED MARCH 31, 2016
NET SALES
Net sales for the year ended March 31, 2017 (“Fiscal 2017”) were approximately $52.9 million. This represents an increase of approximately $4.0 million as compared to approximately $48.9 million in the fiscal year ended March 31, 2016 (“Fiscal 2016”). There was an increase in sales to one major customer of approximately $3.8 million due to one additional promotional product offered to its customers. There was an increase of approximately $1.0 million in sales to two major retail customers due to continued increased popularity in on-line shopping. There was an increase of approximately $0.4 million in international sales due to increased number of products sold to our United Kingdom distributor. These increases of $5.2 million were offset by an approximate $1.2 million reduction in sales to one major retail customer due to poor placement in stores in an area that had less foot traffic.
GROSS PROFIT
Gross profit for Fiscal 2017 was approximately $13.8 million or 26.1% of total revenues compared to approximately $11.9 million or 24.4% of sales for Fiscal 2016 (an increase of approximately $1.9 million). The increase in net sales as explained above accounted for approximately $0.9 million or approximately 47% of the increase with the remaining increase due to increase in gross profit margin.
Gross profit margin for the year ended March 31, 2017 compared to the same period ended March 31, 2016 increased by approximately 1.7 margin points from 24.4% to 26.1%. This increase was primarily due increased profit margins on the download product line hardware introduced during the year as compared to gross profit margin on the traditional product offerings.
OPERATING EXPENSES
In fiscal year 2017, our operating expenses, including depreciation, increased from approximately $10.0 million to approximately $10.9 million, an increase of approximately $0.9 million or 9% compared to the same period last year. Selling expenses increased by approximately $0.4 million, from $4.7 million in Fiscal 2016 to $5.0 million in Fiscal 2017. The increase was primarily due to the increase in variable selling expenses associated with the 8.3% increase in net sales as explained above.
General and administrative expenses increased approximately $0.5 million from approximately $5.2 million in Fiscal 2016 to approximately $5.7 million in Fiscal 2017. There was an increase in payroll of approximately $0.2 million primarily due to increased executive bonuses, merit pay increases and new hires in the logistics and customer service group. There was an increase of approximately $0.2 million in related-party service charges for additional services provided by the Sinostar Group during the fiscal year. The remaining increase of approximately $0.1 million due to other variable expenses associated with the increase in sales as well as the increase in third party logistics services provided to non-related parties.
INCOME BEFORE INCOME TAX (PROVISION) BENEFIT
We had income before taxes of approximately $2.7 million in Fiscal 2017 compared to income before taxes of approximately $1.6 million in Fiscal 2016. This increase of approximately $1.1 million was primarily due to the combination of the increase in gross profit of approximately $1.9 million due to the increase in sales and gross profit margin as explained in Net Sales and Gross Profit above, offset by the increase in operating and other expenses of approximately $0.8 million as explained in Operating Expenses above.
INCOME TAX (PROVISION) BENEFIT
Significant management judgment is required in developing our provisions for income taxes, including the determination of foreign tax liabilities, deferred tax assets and liabilities and any valuation allowances that might be required against deferred tax assets. Management evaluates its ability to realize its deferred tax assets on a quarterly basis and adjusts its valuation allowance when it believes that it is not likely to be realized. On March 31, 2017 and 2016, we had net deferred tax assets of approximately $1.5 million and approximately $2.4 million, respectively.
In Fiscal 2017 we recognized an income tax net provision of approximately $1.0 million based on our net income before income tax provision $2.7 million and our effective tax rate of 37.3% Given the past six years of profitability, management’s assessment of the current business climate and expected future profits, it is more likely than not that all of the deferred tax assets will be realized before they expire.
In Fiscal 2016 we recognized an income tax net benefit of approximately $0.1 million consisting of an income tax provision of approximately $0.6 million based on our net income before income tax (provision) benefit of approximately $1.7 million and our effective tax rate of 37.8% offset by the reversal of the remaining valuation allowance of approximately $0.8 million.
We operate within multiple taxing jurisdictions and are subject to audit in those jurisdictions. Because of the complex issues involved, any claims can require an extended period to resolve. In management's opinion, adequate provisions for income taxes have been made.
NET INCOME
As a result of the foregoing, we had net income of approximately $1.7 million in both Fiscal 2017 and Fiscal 2016.
https://www.otcmarkets.com/stock/SMDM/profile
$SMDM 0.46 RESULTS OF OPERATIONS..FY ENDING 3/31/17
FISCAL YEAR ENDED MARCH 31, 2017 COMPARED WITH FISCAL YEAR ENDED MARCH 31, 2016
NET SALES
Net sales for the year ended March 31, 2017 (“Fiscal 2017”) were approximately $52.9 million. This represents an increase of approximately $4.0 million as compared to approximately $48.9 million in the fiscal year ended March 31, 2016 (“Fiscal 2016”). There was an increase in sales to one major customer of approximately $3.8 million due to one additional promotional product offered to its customers. There was an increase of approximately $1.0 million in sales to two major retail customers due to continued increased popularity in on-line shopping. There was an increase of approximately $0.4 million in international sales due to increased number of products sold to our United Kingdom distributor. These increases of $5.2 million were offset by an approximate $1.2 million reduction in sales to one major retail customer due to poor placement in stores in an area that had less foot traffic.
GROSS PROFIT
Gross profit for Fiscal 2017 was approximately $13.8 million or 26.1% of total revenues compared to approximately $11.9 million or 24.4% of sales for Fiscal 2016 (an increase of approximately $1.9 million). The increase in net sales as explained above accounted for approximately $0.9 million or approximately 47% of the increase with the remaining increase due to increase in gross profit margin.
Gross profit margin for the year ended March 31, 2017 compared to the same period ended March 31, 2016 increased by approximately 1.7 margin points from 24.4% to 26.1%. This increase was primarily due increased profit margins on the download product line hardware introduced during the year as compared to gross profit margin on the traditional product offerings.
OPERATING EXPENSES
In fiscal year 2017, our operating expenses, including depreciation, increased from approximately $10.0 million to approximately $10.9 million, an increase of approximately $0.9 million or 9% compared to the same period last year. Selling expenses increased by approximately $0.4 million, from $4.7 million in Fiscal 2016 to $5.0 million in Fiscal 2017. The increase was primarily due to the increase in variable selling expenses associated with the 8.3% increase in net sales as explained above.
General and administrative expenses increased approximately $0.5 million from approximately $5.2 million in Fiscal 2016 to approximately $5.7 million in Fiscal 2017. There was an increase in payroll of approximately $0.2 million primarily due to increased executive bonuses, merit pay increases and new hires in the logistics and customer service group. There was an increase of approximately $0.2 million in related-party service charges for additional services provided by the Sinostar Group during the fiscal year. The remaining increase of approximately $0.1 million due to other variable expenses associated with the increase in sales as well as the increase in third party logistics services provided to non-related parties.
INCOME BEFORE INCOME TAX (PROVISION) BENEFIT
We had income before taxes of approximately $2.7 million in Fiscal 2017 compared to income before taxes of approximately $1.6 million in Fiscal 2016. This increase of approximately $1.1 million was primarily due to the combination of the increase in gross profit of approximately $1.9 million due to the increase in sales and gross profit margin as explained in Net Sales and Gross Profit above, offset by the increase in operating and other expenses of approximately $0.8 million as explained in Operating Expenses above.
INCOME TAX (PROVISION) BENEFIT
Significant management judgment is required in developing our provisions for income taxes, including the determination of foreign tax liabilities, deferred tax assets and liabilities and any valuation allowances that might be required against deferred tax assets. Management evaluates its ability to realize its deferred tax assets on a quarterly basis and adjusts its valuation allowance when it believes that it is not likely to be realized. On March 31, 2017 and 2016, we had net deferred tax assets of approximately $1.5 million and approximately $2.4 million, respectively.
In Fiscal 2017 we recognized an income tax net provision of approximately $1.0 million based on our net income before income tax provision $2.7 million and our effective tax rate of 37.3% Given the past six years of profitability, management’s assessment of the current business climate and expected future profits, it is more likely than not that all of the deferred tax assets will be realized before they expire.
In Fiscal 2016 we recognized an income tax net benefit of approximately $0.1 million consisting of an income tax provision of approximately $0.6 million based on our net income before income tax (provision) benefit of approximately $1.7 million and our effective tax rate of 37.8% offset by the reversal of the remaining valuation allowance of approximately $0.8 million.
We operate within multiple taxing jurisdictions and are subject to audit in those jurisdictions. Because of the complex issues involved, any claims can require an extended period to resolve. In management's opinion, adequate provisions for income taxes have been made.
NET INCOME
As a result of the foregoing, we had net income of approximately $1.7 million in both Fiscal 2017 and Fiscal 2016.
https://www.otcmarkets.com/stock/SMDM/profile
$SMDM 0.46 RESULTS OF OPERATIONS..FY ENDING 3/31/17
FISCAL YEAR ENDED MARCH 31, 2017 COMPARED WITH FISCAL YEAR ENDED MARCH 31, 2016
NET SALES
Net sales for the year ended March 31, 2017 (“Fiscal 2017”) were approximately $52.9 million. This represents an increase of approximately $4.0 million as compared to approximately $48.9 million in the fiscal year ended March 31, 2016 (“Fiscal 2016”). There was an increase in sales to one major customer of approximately $3.8 million due to one additional promotional product offered to its customers. There was an increase of approximately $1.0 million in sales to two major retail customers due to continued increased popularity in on-line shopping. There was an increase of approximately $0.4 million in international sales due to increased number of products sold to our United Kingdom distributor. These increases of $5.2 million were offset by an approximate $1.2 million reduction in sales to one major retail customer due to poor placement in stores in an area that had less foot traffic.
GROSS PROFIT
Gross profit for Fiscal 2017 was approximately $13.8 million or 26.1% of total revenues compared to approximately $11.9 million or 24.4% of sales for Fiscal 2016 (an increase of approximately $1.9 million). The increase in net sales as explained above accounted for approximately $0.9 million or approximately 47% of the increase with the remaining increase due to increase in gross profit margin.
Gross profit margin for the year ended March 31, 2017 compared to the same period ended March 31, 2016 increased by approximately 1.7 margin points from 24.4% to 26.1%. This increase was primarily due increased profit margins on the download product line hardware introduced during the year as compared to gross profit margin on the traditional product offerings.
OPERATING EXPENSES
In fiscal year 2017, our operating expenses, including depreciation, increased from approximately $10.0 million to approximately $10.9 million, an increase of approximately $0.9 million or 9% compared to the same period last year. Selling expenses increased by approximately $0.4 million, from $4.7 million in Fiscal 2016 to $5.0 million in Fiscal 2017. The increase was primarily due to the increase in variable selling expenses associated with the 8.3% increase in net sales as explained above.
General and administrative expenses increased approximately $0.5 million from approximately $5.2 million in Fiscal 2016 to approximately $5.7 million in Fiscal 2017. There was an increase in payroll of approximately $0.2 million primarily due to increased executive bonuses, merit pay increases and new hires in the logistics and customer service group. There was an increase of approximately $0.2 million in related-party service charges for additional services provided by the Sinostar Group during the fiscal year. The remaining increase of approximately $0.1 million due to other variable expenses associated with the increase in sales as well as the increase in third party logistics services provided to non-related parties.
INCOME BEFORE INCOME TAX (PROVISION) BENEFIT
We had income before taxes of approximately $2.7 million in Fiscal 2017 compared to income before taxes of approximately $1.6 million in Fiscal 2016. This increase of approximately $1.1 million was primarily due to the combination of the increase in gross profit of approximately $1.9 million due to the increase in sales and gross profit margin as explained in Net Sales and Gross Profit above, offset by the increase in operating and other expenses of approximately $0.8 million as explained in Operating Expenses above.
INCOME TAX (PROVISION) BENEFIT
Significant management judgment is required in developing our provisions for income taxes, including the determination of foreign tax liabilities, deferred tax assets and liabilities and any valuation allowances that might be required against deferred tax assets. Management evaluates its ability to realize its deferred tax assets on a quarterly basis and adjusts its valuation allowance when it believes that it is not likely to be realized. On March 31, 2017 and 2016, we had net deferred tax assets of approximately $1.5 million and approximately $2.4 million, respectively.
In Fiscal 2017 we recognized an income tax net provision of approximately $1.0 million based on our net income before income tax provision $2.7 million and our effective tax rate of 37.3% Given the past six years of profitability, management’s assessment of the current business climate and expected future profits, it is more likely than not that all of the deferred tax assets will be realized before they expire.
In Fiscal 2016 we recognized an income tax net benefit of approximately $0.1 million consisting of an income tax provision of approximately $0.6 million based on our net income before income tax (provision) benefit of approximately $1.7 million and our effective tax rate of 37.8% offset by the reversal of the remaining valuation allowance of approximately $0.8 million.
We operate within multiple taxing jurisdictions and are subject to audit in those jurisdictions. Because of the complex issues involved, any claims can require an extended period to resolve. In management's opinion, adequate provisions for income taxes have been made.
NET INCOME
As a result of the foregoing, we had net income of approximately $1.7 million in both Fiscal 2017 and Fiscal 2016.
https://www.otcmarkets.com/stock/SMDM/profile
$SMDM 0.46 RESULTS OF OPERATIONS..FY ENDING 3/31/17
FISCAL YEAR ENDED MARCH 31, 2017 COMPARED WITH FISCAL YEAR ENDED MARCH 31, 2016
NET SALES
Net sales for the year ended March 31, 2017 (“Fiscal 2017”) were approximately $52.9 million. This represents an increase of approximately $4.0 million as compared to approximately $48.9 million in the fiscal year ended March 31, 2016 (“Fiscal 2016”). There was an increase in sales to one major customer of approximately $3.8 million due to one additional promotional product offered to its customers. There was an increase of approximately $1.0 million in sales to two major retail customers due to continued increased popularity in on-line shopping. There was an increase of approximately $0.4 million in international sales due to increased number of products sold to our United Kingdom distributor. These increases of $5.2 million were offset by an approximate $1.2 million reduction in sales to one major retail customer due to poor placement in stores in an area that had less foot traffic.
GROSS PROFIT
Gross profit for Fiscal 2017 was approximately $13.8 million or 26.1% of total revenues compared to approximately $11.9 million or 24.4% of sales for Fiscal 2016 (an increase of approximately $1.9 million). The increase in net sales as explained above accounted for approximately $0.9 million or approximately 47% of the increase with the remaining increase due to increase in gross profit margin.
Gross profit margin for the year ended March 31, 2017 compared to the same period ended March 31, 2016 increased by approximately 1.7 margin points from 24.4% to 26.1%. This increase was primarily due increased profit margins on the download product line hardware introduced during the year as compared to gross profit margin on the traditional product offerings.
OPERATING EXPENSES
In fiscal year 2017, our operating expenses, including depreciation, increased from approximately $10.0 million to approximately $10.9 million, an increase of approximately $0.9 million or 9% compared to the same period last year. Selling expenses increased by approximately $0.4 million, from $4.7 million in Fiscal 2016 to $5.0 million in Fiscal 2017. The increase was primarily due to the increase in variable selling expenses associated with the 8.3% increase in net sales as explained above.
General and administrative expenses increased approximately $0.5 million from approximately $5.2 million in Fiscal 2016 to approximately $5.7 million in Fiscal 2017. There was an increase in payroll of approximately $0.2 million primarily due to increased executive bonuses, merit pay increases and new hires in the logistics and customer service group. There was an increase of approximately $0.2 million in related-party service charges for additional services provided by the Sinostar Group during the fiscal year. The remaining increase of approximately $0.1 million due to other variable expenses associated with the increase in sales as well as the increase in third party logistics services provided to non-related parties.
INCOME BEFORE INCOME TAX (PROVISION) BENEFIT
We had income before taxes of approximately $2.7 million in Fiscal 2017 compared to income before taxes of approximately $1.6 million in Fiscal 2016. This increase of approximately $1.1 million was primarily due to the combination of the increase in gross profit of approximately $1.9 million due to the increase in sales and gross profit margin as explained in Net Sales and Gross Profit above, offset by the increase in operating and other expenses of approximately $0.8 million as explained in Operating Expenses above.
INCOME TAX (PROVISION) BENEFIT
Significant management judgment is required in developing our provisions for income taxes, including the determination of foreign tax liabilities, deferred tax assets and liabilities and any valuation allowances that might be required against deferred tax assets. Management evaluates its ability to realize its deferred tax assets on a quarterly basis and adjusts its valuation allowance when it believes that it is not likely to be realized. On March 31, 2017 and 2016, we had net deferred tax assets of approximately $1.5 million and approximately $2.4 million, respectively.
In Fiscal 2017 we recognized an income tax net provision of approximately $1.0 million based on our net income before income tax provision $2.7 million and our effective tax rate of 37.3% Given the past six years of profitability, management’s assessment of the current business climate and expected future profits, it is more likely than not that all of the deferred tax assets will be realized before they expire.
In Fiscal 2016 we recognized an income tax net benefit of approximately $0.1 million consisting of an income tax provision of approximately $0.6 million based on our net income before income tax (provision) benefit of approximately $1.7 million and our effective tax rate of 37.8% offset by the reversal of the remaining valuation allowance of approximately $0.8 million.
We operate within multiple taxing jurisdictions and are subject to audit in those jurisdictions. Because of the complex issues involved, any claims can require an extended period to resolve. In management's opinion, adequate provisions for income taxes have been made.
NET INCOME
As a result of the foregoing, we had net income of approximately $1.7 million in both Fiscal 2017 and Fiscal 2016.
https://www.otcmarkets.com/stock/SMDM/profile
$SMDM RESULTS OF OPERATIONS..FY ENDING 3/31/17
FISCAL YEAR ENDED MARCH 31, 2017 COMPARED WITH FISCAL YEAR ENDED MARCH 31, 2016
NET SALES
Net sales for the year ended March 31, 2017 (“Fiscal 2017”) were approximately $52.9 million. This represents an increase of approximately $4.0 million as compared to approximately $48.9 million in the fiscal year ended March 31, 2016 (“Fiscal 2016”). There was an increase in sales to one major customer of approximately $3.8 million due to one additional promotional product offered to its customers. There was an increase of approximately $1.0 million in sales to two major retail customers due to continued increased popularity in on-line shopping. There was an increase of approximately $0.4 million in international sales due to increased number of products sold to our United Kingdom distributor. These increases of $5.2 million were offset by an approximate $1.2 million reduction in sales to one major retail customer due to poor placement in stores in an area that had less foot traffic.
GROSS PROFIT
Gross profit for Fiscal 2017 was approximately $13.8 million or 26.1% of total revenues compared to approximately $11.9 million or 24.4% of sales for Fiscal 2016 (an increase of approximately $1.9 million). The increase in net sales as explained above accounted for approximately $0.9 million or approximately 47% of the increase with the remaining increase due to increase in gross profit margin.
Gross profit margin for the year ended March 31, 2017 compared to the same period ended March 31, 2016 increased by approximately 1.7 margin points from 24.4% to 26.1%. This increase was primarily due increased profit margins on the download product line hardware introduced during the year as compared to gross profit margin on the traditional product offerings.
OPERATING EXPENSES
In fiscal year 2017, our operating expenses, including depreciation, increased from approximately $10.0 million to approximately $10.9 million, an increase of approximately $0.9 million or 9% compared to the same period last year. Selling expenses increased by approximately $0.4 million, from $4.7 million in Fiscal 2016 to $5.0 million in Fiscal 2017. The increase was primarily due to the increase in variable selling expenses associated with the 8.3% increase in net sales as explained above.
General and administrative expenses increased approximately $0.5 million from approximately $5.2 million in Fiscal 2016 to approximately $5.7 million in Fiscal 2017. There was an increase in payroll of approximately $0.2 million primarily due to increased executive bonuses, merit pay increases and new hires in the logistics and customer service group. There was an increase of approximately $0.2 million in related-party service charges for additional services provided by the Sinostar Group during the fiscal year. The remaining increase of approximately $0.1 million due to other variable expenses associated with the increase in sales as well as the increase in third party logistics services provided to non-related parties.
INCOME BEFORE INCOME TAX (PROVISION) BENEFIT
We had income before taxes of approximately $2.7 million in Fiscal 2017 compared to income before taxes of approximately $1.6 million in Fiscal 2016. This increase of approximately $1.1 million was primarily due to the combination of the increase in gross profit of approximately $1.9 million due to the increase in sales and gross profit margin as explained in Net Sales and Gross Profit above, offset by the increase in operating and other expenses of approximately $0.8 million as explained in Operating Expenses above.
INCOME TAX (PROVISION) BENEFIT
Significant management judgment is required in developing our provisions for income taxes, including the determination of foreign tax liabilities, deferred tax assets and liabilities and any valuation allowances that might be required against deferred tax assets. Management evaluates its ability to realize its deferred tax assets on a quarterly basis and adjusts its valuation allowance when it believes that it is not likely to be realized. On March 31, 2017 and 2016, we had net deferred tax assets of approximately $1.5 million and approximately $2.4 million, respectively.
16
In Fiscal 2017 we recognized an income tax net provision of approximately $1.0 million based on our net income before income tax provision $2.7 million and our effective tax rate of 37.3% Given the past six years of profitability, management’s assessment of the current business climate and expected future profits, it is more likely than not that all of the deferred tax assets will be realized before they expire.
In Fiscal 2016 we recognized an income tax net benefit of approximately $0.1 million consisting of an income tax provision of approximately $0.6 million based on our net income before income tax (provision) benefit of approximately $1.7 million and our effective tax rate of 37.8% offset by the reversal of the remaining valuation allowance of approximately $0.8 million.
We operate within multiple taxing jurisdictions and are subject to audit in those jurisdictions. Because of the complex issues involved, any claims can require an extended period to resolve. In management's opinion, adequate provisions for income taxes have been made.
NET INCOME
As a result of the foregoing, we had net income of approximately $1.7 million in both Fiscal 2017 and Fiscal 2016.
https://www.otcmarkets.com/stock/SMDM/profile
PGAS had some hugh volume today more to come
Earnings watch 10k SMDM this morning. pps .46
$LUVU..05 Luvu Brands, getting right to buy.
Note: FY ends 6/30
2017 Third Quarter Results announced,business update conference call scheduled...
Net sales for the nine months ended March 31, 2017 increased to a record $13,265,000
Net cash provided by operating activities was approximately $292,000 in the nine months ended March 31, 2017
We realized a net profit of approximately $334,000 for the nine months ended March 31, 2017 and incurred a net loss of approximately $312,000 for the year ended June 30, 2016.
As of May 12, 2017 there were 73,452,596 shares of the registrant’s common stock outstanding.
https://www.otcmarkets.com/stock/LUVU/news/Luvu-Brands-Announces-Fiscal-2017-Third-Quarter-Results?id=159087&b=y
Full SEC Filing
https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12067081
April 26,2017
$LUVU Brands...2017 Current Investors Handout....
https://www.sec.gov/Archives/edgar/data/1374567/000101738617000066/exhibit_99-1.pdf
LUVU Brands
https://www.otcmarkets.com/stock/LUVU/profile
WEBSITES
http://www.luvubrands.com/internet-and-retail-distribution/
https://twitter.com/luvu_brands
https://www.jaxxbeanbags.com
https://twitter.com/jaxxbeanbags
https://www.avanacomfort.com
https://twitter.com/AvanaComfort
Sites below my not be suitable for work or children.
https://www.liberator.com
https://twitter.com/liberator
SMDM was a little selling this week they report 10k tomorrow morning
honestly don't know how that will turn out. Should do well for
the year if Q4 is not a disaster. Q4 is a weak quarter for them.
Singing Machine
http://singingmachine.com
https://www.otcmarkets.com/stock/SMDM/profile
https://finance.yahoo.com/quote/SMDM/profile?p=SMDM
https://www.tradingview.com/chart/SMDM/
PGAS 0.04...TB value 0.057...Petrogress Inc
Straight up balance sheet low debt..Q1 Net Tangible Assets 9,555m,
166.8m O/S - 24.4m Float - 2016, 18m revenue profitable
Tangible Book value 0.057
To uplist to OTC QX
Securities Counsel
Sichenzia Ross Ference Kesner LLP\ OTCQX Sponsor
Petrogess Inc. OTCmarkets profile
https://www.otcmarkets.com/stock/PGAS/profile
Income statement Also see quarterly
https://finance.yahoo.com/quote/PGAS/financials?p=PGAS
Balance Sheet
https://finance.yahoo.com/quote/PGAS/balance-sheet?p=PGAS
--------------------------------------------------------------
Petrogress is well funded to support its present activities;
- $80 million gross revenues 2009 – 2016 / EBITDA $7,969,567 (ROI 15.43%)
- $122 million Sales Projection for 2017 – 2020
2016
Placed order to
purchase 2 LNG
vessels in USA
Growing the fleet of Tankers from four currently to six
DEC 16, Presentation
http://petrogressinc.com/investors/presentations/360-petrogress-investor-presentation-dec-2016.html
---------------------------------------------------------------------
Since consummation of the SEA, Petrogres has successfully negotiated several new operational affiliations and partnerships to strengthen its existing oil operating platform. In November 2016, Petrogres entered into an alliance agreement with Prometheus Maritime Ltd., a Nigerian corporation (“PML”), a crude oil and gas trading company (the “Alliance Agreement”). Pursuant to the terms of the Alliance Agreement, Petrogres and PML agreed to cooperate towards a petroleum project in Nigeria , including the supply and transportation of oil commodities to various end-buyers throughout West Africa (the “Nigeria Petroleum Project”), with Petrogres acting as the lead party.
..see Pg 4 Description of Business
https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11995179
Potential acquistition 25% stake in West African Fenders provides ship-to-ship (STS)
http://m.marketwired.com/press-release/petrogress-inc-subsidiary-petronav-carriers-llc-reaches-understanding-principle-acquire-otc-pink-pgas-2181020.htm
http://www.wafenders.com/sts/
PGAS 0.04...TB value 0.057...Petrogress Inc
Straight up balance sheet low debt..Q1 Net Tangible Assets 9,555m,
166.8m O/S - 24.4m Float - 2016, 18m revenue profitable
Tangible Book value 0.057
To uplist to OTC QX
Securities Counsel
Sichenzia Ross Ference Kesner LLP\ OTCQX Sponsor
Petrogess Inc. OTCmarkets profile
https://www.otcmarkets.com/stock/PGAS/profile
Income statement
https://finance.yahoo.com/quote/PGAS/financials?p=PGAS
Balance Sheet
https://finance.yahoo.com/quote/PGAS/balance-sheet?p=PGAS
--------------------------------------------------------------
Petrogress is well funded to support its present activities;
- $80 million gross revenues 2009 – 2016 / EBITDA $7,969,567 (ROI 15.43%)
- $122 million Sales Projection for 2017 – 2020
2016
Placed order to
purchase 2 LNG
vessels in USA
Growing the fleet of Tankers from four currently to six
DEC 16, Presentation
http://petrogressinc.com/investors/presentations/360-petrogress-investor-presentation-dec-2016.html
---------------------------------------------------------------------
Since consummation of the SEA, Petrogres has successfully negotiated several new operational affiliations and partnerships to strengthen its existing oil operating platform. In November 2016, Petrogres entered into an alliance agreement with Prometheus Maritime Ltd., a Nigerian corporation (“PML”), a crude oil and gas trading company (the “Alliance Agreement”). Pursuant to the terms of the Alliance Agreement, Petrogres and PML agreed to cooperate towards a petroleum project in Nigeria , including the supply and transportation of oil commodities to various end-buyers throughout West Africa (the “Nigeria Petroleum Project”), with Petrogres acting as the lead party.
see Pg 4 Description of Business
https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11995179
Potential acquistition 25% stake in West African Fenders provides ship-to-ship (STS)
http://m.marketwired.com/press-release/petrogress-inc-subsidiary-petronav-carriers-llc-reaches-understanding-principle-acquire-otc-pink-pgas-2181020.htm
http://www.wafenders.com/sts/
PGAS 0.04...TB value 0.057...Petrogress Inc
Straight up balance sheet low debt..Q1 Net Tangible Assets 9,555m,
166.8m O/S - 24.4m Float - 2016, 18m revenue profitable
Tangible Book value 0.057
To uplist to OTC QX
Securities Counsel
Sichenzia Ross Ference Kesner LLP\ OTCQX Sponsor
Petrogess Inc. OTCmarkets profile
https://www.otcmarkets.com/stock/PGAS/profile
Income statement
https://finance.yahoo.com/quote/PGAS/financials?p=PGAS
Balance Sheet
https://finance.yahoo.com/quote/PGAS/balance-sheet?p=PGAS
--------------------------------------------------------------
Petrogress is well funded to support its present activities;
- $80 million gross revenues 2009 – 2016 / EBITDA $7,969,567 (ROI 15.43%)
- $122 million Sales Projection for 2017 – 2020
2016
Placed order to
purchase 2 LNG
vessels in USA
Growing the fleet of Tankers from four currently to six
DEC 16, Presentation
http://petrogressinc.com/investors/presentations/360-petrogress-investor-presentation-dec-2016.html
---------------------------------------------------------------------
Since consummation of the SEA, Petrogres has successfully negotiated several new operational affiliations and partnerships to strengthen its existing oil operating platform. In November 2016, Petrogres entered into an alliance agreement with Prometheus Maritime Ltd., a Nigerian corporation (“PML”), a crude oil and gas trading company (the “Alliance Agreement”). Pursuant to the terms of the Alliance Agreement, Petrogres and PML agreed to cooperate towards a petroleum project in Nigeria , including the supply and transportation of oil commodities to various end-buyers throughout West Africa (the “Nigeria Petroleum Project”), with Petrogres acting as the lead party.
see Pg 4 Description of Business
https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11995179
Potential acquistition 25% stake in West African Fenders provides ship-to-ship (STS)
http://m.marketwired.com/press-release/petrogress-inc-subsidiary-petronav-carriers-llc-reaches-understanding-principle-acquire-otc-pink-pgas-2181020.htm
http://www.wafenders.com/sts/
PGAS 0.04...TB value 0.057...Petrogress Inc
Straight up balance sheet low debt..Q1 Net Tangible Assets 9,555m,
166.8m O/S - 24.4m Float - 2016, 18m revenue profitable
Tangible Book value 0.057
To uplist to OTC QX
Securities Counsel
Sichenzia Ross Ference Kesner LLP\ OTCQX Sponsor
Petrogess Inc. OTCmarkets profile
https://www.otcmarkets.com/stock/PGAS/profile
Income statement
https://finance.yahoo.com/quote/PGAS/financials?p=PGAS
Balance Sheet
https://finance.yahoo.com/quote/PGAS/balance-sheet?p=PGAS
--------------------------------------------------------------
Petrogress is well funded to support its present activities;
- $80 million gross revenues 2009 – 2016 / EBITDA $7,969,567 (ROI 15.43%)
- $122 million Sales Projection for 2017 – 2020
2016
Placed order to
purchase 2 LNG
vessels in USA
Growing the fleet of Tankers from four currently to six
DEC 16, Presentation
http://petrogressinc.com/investors/presentations/360-petrogress-investor-presentation-dec-2016.html
---------------------------------------------------------------------
Since consummation of the SEA, Petrogres has successfully negotiated several new operational affiliations and partnerships to strengthen its existing oil operating platform. In November 2016, Petrogres entered into an alliance agreement with Prometheus Maritime Ltd., a Nigerian corporation (“PML”), a crude oil and gas trading company (the “Alliance Agreement”). Pursuant to the terms of the Alliance Agreement, Petrogres and PML agreed to cooperate towards a petroleum project in Nigeria , including the supply and transportation of oil commodities to various end-buyers throughout West Africa (the “Nigeria Petroleum Project”), with Petrogres acting as the lead party.
see Pg 4 Description of Business
https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11995179
Potential acquistition 25% stake in West African Fenders provides ship-to-ship (STS)
http://m.marketwired.com/press-release/petrogress-inc-subsidiary-petronav-carriers-llc-reaches-understanding-principle-acquire-otc-pink-pgas-2181020.htm
http://www.wafenders.com/sts/
PGAS 0.04...TB value 0.057...Petrogress Inc
Straight up balance sheet low debt..Q1 Net Tangible Assets 9,555m,
166.8m O/S - 24.4m Float - 2016, 18m revenue profitable
Tangible Book value 0.057
To uplist to OTC QX
Securities Counsel
Sichenzia Ross Ference Kesner LLP\ OTCQX Sponsor
Petrogess Inc. OTCmarkets profile
https://www.otcmarkets.com/stock/PGAS/profile
Income statement
https://finance.yahoo.com/quote/PGAS/financials?p=PGAS
Balance Sheet
https://finance.yahoo.com/quote/PGAS/balance-sheet?p=PGAS
--------------------------------------------------------------
Petrogress is well funded to support its present activities;
- $80 million gross revenues 2009 – 2016 / EBITDA $7,969,567 (ROI 15.43%)
- $122 million Sales Projection for 2017 – 2020
2016
Placed order to
purchase 2 LNG
vessels in USA
Growing the fleet of Tankers from four currently to six
DEC 16, Presentation
http://petrogressinc.com/investors/presentations/360-petrogress-investor-presentation-dec-2016.html
---------------------------------------------------------------------
Since consummation of the SEA, Petrogres has successfully negotiated several new operational affiliations and partnerships to strengthen its existing oil operating platform. In November 2016, Petrogres entered into an alliance agreement with Prometheus Maritime Ltd., a Nigerian corporation (“PML”), a crude oil and gas trading company (the “Alliance Agreement”). Pursuant to the terms of the Alliance Agreement, Petrogres and PML agreed to cooperate towards a petroleum project in Nigeria , including the supply and transportation of oil commodities to various end-buyers throughout West Africa (the “Nigeria Petroleum Project”), with Petrogres acting as the lead party.
see Pg 4 Description of Business
https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11995179
Potential acquistition 25% stake in West African Fenders provides ship-to-ship (STS)
http://m.marketwired.com/press-release/petrogress-inc-subsidiary-petronav-carriers-llc-reaches-understanding-principle-acquire-otc-pink-pgas-2181020.htm
http://www.wafenders.com/sts/
$PGAS 0.04 +0.011 (+37.93%) Volume 2,538,776 Prev. Close
0.029
PGAS..Another great alert, before the crowd otcbargains da-man
PGAS..Getting found .046
Best volume I've seen..$PGAS
I do believe you are right
Few more finding it..$PGAS..0.037
PGAS 0.029..successfully negotiated several new operational affiliations and partnerships to strengthen its existing oil operating platform. In November 2016, Petrogres entered into an alliance agreement with Prometheus Maritime Ltd., a Nigerian corporation (“PML”), a crude oil and gas trading company (the “Alliance Agreement”). Pursuant to the terms of the Alliance Agreement, Petrogres and PML agreed to cooperate towards a petroleum project in Nigeria , including the supply and transportation of oil commodities to various end-buyers throughout West Africa (the “Nigeria Petroleum Project”), with Petrogres acting as the lead party.
Pg 4 Description of Business
https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11995179
$PGAS..Since consummation of the SEA, Petrogres has successfully negotiated several new operational affiliations and partnerships to strengthen its existing oil operating platform. In November 2016, Petrogres entered into an alliance agreement with Prometheus Maritime Ltd., a Nigerian corporation (“PML”), a crude oil and gas trading company (the “Alliance Agreement”). Pursuant to the terms of the Alliance Agreement, Petrogres and PML agreed to cooperate towards a petroleum project in Nigeria , including the supply and transportation of oil commodities to various end-buyers throughout West Africa (the “Nigeria Petroleum Project”), with Petrogres acting as the lead party.
Pg 4 Description of Business
https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11995179
Previously posted: PGAS
$PGAS 0.029--Tangible Book value 0.057
Straight up balance sheet low debt..Q1 Net Tangible Assets 9,555m,
166.8m O/S - 24.4m Float
Tangible Book value 0.057
Income statement
https://finance.yahoo.com/quote/PGAS/financials?p=PGAS
Balance Sheet
https://finance.yahoo.com/quote/PGAS/balance-sheet?p=PGAS
Uplisting to OTC QX
Securities Counsel
Sichenzia Ross Ference Kesner LLP\ OTCQX Sponsor
PGAS OTC profile
https://www.otcmarkets.com/stock/PGAS/profile
Petrogress is well funded to support its present activities;
- $80 million gross revenues 2009 – 2016 / EBITDA $7,969,567 (ROI 15.43%)
- $122 million Sales Projection for 2017 – 2020
2016
Placed order to
purchase 2 LNG
vessels in USA
DEC 16, Presentation
http://petrogressinc.com/investors/presentations/360-petrogress-investor-presentation-dec-2016.html
Potential acquistition 25% stake in West African Fenders provides ship-to-ship (STS)
http://m.marketwired.com/press-release/petrogress-inc-subsidiary-petronav-carriers-llc-reaches-understanding-principle-acquire-otc-pink-pgas-2181020.htm
http://www.wafenders.com/sts/
$PGAS..Since consummation of the SEA, Petrogres has successfully negotiated several new operational affiliations and partnerships to strengthen its existing oil operating platform. In November 2016, Petrogres entered into an alliance agreement with Prometheus Maritime Ltd., a Nigerian corporation (“PML”), a crude oil and gas trading company (the “Alliance Agreement”). Pursuant to the terms of the Alliance Agreement, Petrogres and PML agreed to cooperate towards a petroleum project in Nigeria , including the supply and transportation of oil commodities to various end-buyers throughout West Africa (the “Nigeria Petroleum Project”), with Petrogres acting as the lead party.
Pg 4 Description of Business
https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11995179