In Florida overlooking the Intercoastal Waterway..
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AMEH $0.50.. .. I've owned and have followed it for years.. This is the first time that AMEH has ever made a profit but I would not chase it as it has moved on no volume because it's so thin,, only to fall back several times and go for days w/o a trade.. I have a bid in from this AM ($0.382)and it traded on my bid but I didn't get a share.. It traded at $1.51,, a 10-bagger after that post below..
ALYE $0.85.. This is an old favorite name and Insider,, Alya Hidayatallah and was President of the first stock I ever posted on I-Hub.. The first ALY was sold but it appears the same controlling insider has put together a new company.. While I'm not a buyer at this level,, I'll now foll ALYI closely and if it should come down for any reason I'll take a closer look.. He is of the same mold as the ALJJ group..
Aly Energy Services, Inc.
Third Quarter 2014 Earnings Conference Call and Webcast
November 18, 2014
Operator: Good day, and welcome to the Aly Energy Services, Inc. Third Quarter 2014 Earnings Conference Call and Webcast. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key, followed by zero. After today’s presentation, there will be an opportunity to ask questions. To ask a question, you may press star, then one on your touchtone phone. To withdraw your question, please press star, then two. Please note this event is being recorded.
I would now like to turn the conference over to Alya Hidayatallah. Please go ahead.
Alya Hidayatallah: Good morning, everyone. This is Alya Hidayatallah, the CFO of Aly Energy Services. We’re going to start with a caveat about forward-looking statements.
Our conversation may include forward-looking statements regarding our business, financial condition, results of operations, and prospects. Words such as expects, anticipates, intends, plans, believes, seeks, estimates, and similar expressions or variations of such words, are intended to identify forward-looking statements, but are not the inclusive means of identifying forward-looking statements in the following conversation.
Although these statements reflect the good faith judgment of our Management, such statements can only be based on facts and factors that our Management currently knows. Consequently, forward-looking statements are inherently subject to risks and uncertainties and actual results and outcomes may differ materially from the results and outcomes discussed in these forward-looking statements. Factors that could cause or contribute to such differences and outcomes include, but are not limited to, demand for oil and natural gas drilling services in the areas and markets in which we operate, competition, obsolescence of products and services, the ability to obtain financing to support operations, environmental and other casualty risks, and the effect of government regulation.
Further information about these risks and uncertainties that may affect our business are set forth in our most recent filings on Form 10-K, including, without limitation, in the “Risk Factors” section, and in our other SEC filings and publicly available documents. We urge you not to place undue reliance on these forward-looking statements which speak only as of the date of this conversation. Aly Energy undertakes no obligation to revise or update any forward-looking statements in order to reflect any event or circumstance that may arise after today.
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I will now turn the call over to Mark Patterson, our Chief Operating Officer.
Mark Patterson: Good morning. Aly Energy Services employs over 260 employees, with 78% of these employees performing jobs in our daily operations, supporting our full-service efforts in the field and at the well site. Our equipment is deployed and our services are provided from nine service locations located in Pennsylvania, Oklahoma and Texas. These service locations are geographically positioned to allow us to serve our clients in 13 of the 15 major shale play markets in the United States. We have increased the number of master service agreements we have executed with exploration and production companies to over 70, and continue to add new MSAs on a monthly basis, averaging approximately two to three per month.
Aly Energy Services has over 60 revenue-generating customers and currently is providing products and services to 50 E&P companies today. Our products and services are serving these 50 customers on 100 rigs drilling in the aforementioned 13 shale plays. Our services included equipment rentals surrounding the storage, delivery, containing, circulating, and mud recovery of oil-based mud used in the horizontal drilling process. Multiple product offerings surround and support these services. We also provide well planning and coordination for our MWD, or measurement while drilling, and our directional drilling services.
Much of our equipment and product offerings are differentiated from other companies providing similar products. In-house fabrication and specific design, based on our extensive experience operating this type of equipment over many years serving our clients, affords us this differentiation. Our 400-barrel vertical space-saving mud-circulating tanks, our 400-barrel mud-mixing plants on wheels, our one- and two-tank live oil skimming systems, and our drive overs used to protect the hoses delivering mud to the rig, are just some examples of our product differentiation. Also, our centrifuges have proprietary design features to allow for quick replacement of the rotate assembly. This saves on downtime and provides for longer periods of time between refurbishment of the centrifuge. Full closed-loop systems are provided through a complete product offering of equipment, like drying shakers, vertical dryers and oil recovery units.
Similar to the aforementioned product offerings, our measurement-while-drilling kits are enhanced in-house prior to being shipped to the rig for use down-hole. These enhancements have proven results of over 5,700 hours MTBF, or mean time between failure hours. The industry average is less than 2,000 hours MTBF.
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Our trained personnel and our health, safety and environmental processes allow us to be a full-service provider with equipment trucking, complete rig-up and rig-down services, personnel on location when required, and weekly maintenance service calls to the rigs to service and maintain our equipment at the well side. These processes enable us to ensure an excellent record in quality assurance and quality control.
Aly Energy, like all companies, has challenges. Some of the challenges we are experiencing while growing our business and in adding new customers stems from a lack of inventory of many of the product offerings we provide, due to high equipment utilization, and in the number of service vehicles we own. These challenges hamper our ability to add new customers and service additional rigs in the expanding geographic markets we serve. Examples of these challenges are found in our sub-rental and third-party trucking expenses, along with the rental expenses associated with service vehicles necessary to manage the growth in the number of rigs we are servicing. These increased expenses do impact our profit margins.
We are proud of our product offerings and services that are designed around protecting the environment. Creeping environmental laws and non-oil price drivers can boost utilization of some of our product offerings. The capturing of oil solids produced from drill cuttings through to the utilization of our centrifuges and associated equipment, and the skimming of oil from frac water being flowed prior to placing a well in production by utilizing our aforementioned live oil skimming systems, are examples of this type of product offering and service. Also, our containment products and services are specifically designed and utilized to protect the earth from oil leaks and spills that can occur during the drilling process.
We are very excited with our growth strategy and plan for the remainder of 2014 and early 2015. We will continue to see revenue growth in solids control and directional drilling. Understanding the evolution of shale plays and the rapid increase in the number of wells being drilled, well costs associated with drilling have been reduced, shale oil production has increased; however, these wells typically have rapid decline rates, which we believe will provide continued focused drilling programs by many, if not all, of our customers.
At this time, I’ll turn it back over to Alya.
Alya Hidayatallah: Good morning again, everyone. My upcoming remarks will include forward-looking statements as they were defined at the beginning of this call, and also references to Adjusted EBITDA. Adjusted EBITDA is a non-GAAP financial measure that is not necessarily comparable from one company to another. We define Adjusted EBITDA as earnings before interest expense, income taxes, depreciation and amortization, certain non-cash items such as stock compensation expense, bad debt expense and fair value adjustments, and also certain non-routine items including transaction costs. We believe that Adjusted EBITDA is useful for investors to assess and understand operating performance, especially when comparing our current results with previous and subsequent periods, or for forecasting performance for future periods, primarily because we consider Adjusted EBITDA to reflect a normalized operating run rate, excluding any one-time and extraordinary items. For a complete reconciliation of Adjusted EBITDA to net income, please see the tables in our press release published this morning.
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As we have previously disclosed, during the nine months ended September 30th, 2014, we completed three significant transactions. We acquired United Centrifuge, we acquired Evolution Guidance Systems, and we made a bulk equipment purchase. Unless otherwise indicated, the financial results include the financial impact of the acquisition of United Centrifuge beginning on April 15th, the financial results of Evolution beginning on July 1st, and the equipment purchase on August 15th as part of the bulk equipment purchase was in transport for most of the third quarter and we will not recognize the benefit of that equipment until the fourth quarter.
For the three months ended September 30th, 2014, our revenue was 13.5 million, an increase of 9.1 million over the 4.4 million reported in the prior year for the same period. Adjusted EBITDA grew by 2.3 million to 3.3 million for the three months ended, compared to 1 million for the three months ended in the prior year. Finally, net income available to common stockholders increased from 39,000 for the three months ended last year up to 1 million for the three months ended this year.
In terms the nine-month results, revenue increased by 14.3 million to 27.9 million for the nine months ended 2014, an increase over 13.6 million for the nine months ended September 30th, 2013. Adjusted EBITDA was 7.9 million for the nine months ended September 30th, compared to 3.4 for the same period in the prior year. Net income available to common stockholders increased as well, from 0.4 million for the nine months ended September 30th, 2013, up to 8.1 million for the nine months ended in 2014.
If you exclude the impact of our acquisitions completed during 2014, our operations produced 7.1 million in revenue for the three months ended 2014, compared to 4.4 million for the three months ended in 2013. Similarly, if you exclude the impact of the acquisitions, our operations for the nine months ended 2014 were 18.5 million, compared to revenues of 13.6 million for the nine months ended in 2013.
We expect continued growth in the fourth quarter from all of our various operations and product lines. We are continuing to invest in equipment to replace sub-rented equipment that Mark referred to in his comments. We also will have the full benefit of the Saskatchewan bulk equipment purchase in the fourth quarter. Additionally, we accelerated our growth into full-package directional drilling jobs in late August and we’ll have the full benefit of those jobs in the fourth quarter, as well.
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Our total capital expenditures for the nine months ended September 30th, 2014 were 17.2 million. Of this, 10.3 million was associated with the bulk equipment purchase, and then an additional 1.8 million was for five new MWD kits.
As of September 30th, 2014, we had total debt of 28.4 million; 24.8 million of that was within our Wells Fargo facility. We also had a $2 million subordinated note payable which was issued in connection with the Saskatchewan equipment purchase, and the remainder is capital leases. We had total availability under our revolver of 2.7 million as of September 30th, and in addition, we were compliant with all of our covenants in the Wells Fargo facility.
At this point, I will pass it off to Micki Hidayatallah, the Chief Executive Officer and Chairman.
Micki Hidayatallah: Again, good morning. I’m going to briefly summarize our last two years since we acquired ACPS, how we have successfully executed our growth strategy. We’ve done this through both acquisitions, as well as organic growth.
Currently, our annualized run rate for revenues is over $50 million and Adjusted EBITDA run rate is around 14 million. Operating income run rate, based on the third quarter, is around 8 million, with net income to common shareholders running at an annualized rate of 4.5 million.
Over this period, we have invested in excess of $50 million in both acquisitions, as well as state-of-the-art equipment that we have either built or purchased. Our most important investment still remains in our people and the quality of our Management team and skill of our service techs and operators.
With declining oil prices, we will defer all acquisitions and limit our capital expenditures to commitments that we have already made of about $7.5 million. This equipment will be delivered to us and paid for over the next six months.
Our success has been based on our ability to grow and diversify our customer base, expand our geographic footprint, and to continue to design, engineer and fabricate our unique 400-barrel vertical mud-circulating tanks, drive overs, 450-barrel mobile mud-mixing plants, and of course our centrifuges which have longer operating hours without breakdown and are designed to facilitate the replacement of the internal rotating assembly in 45 minutes, and we can do this at the well head.
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We will continue to build our directional drilling business around the firmware technology of our MWD kits, which have a failure rate that is somewhere between 200 and 300% better than our competitors. We have exported four kits in 2013, and are currently working with our international partners to sell an additional five kits in 2015. Our business model will include offering our customers full directional drilling packages, renting out our proprietary-designed MWD kits in the United States, and selling our kits in the international market.
With that summary, I will now open it up for questions.
Operator: Thank you. We will now begin the question and answer session. To ask a question, you may press star, then one on your touchtone phone. If you are using a speaker phone, please pick up your handset before pressing the keys. If at any time your question has been addressed and you would like to withdraw your question, please press star, then two. At this time, we will pause momentarily to assemble our roster.
Again, to ask a question, you may press star, then one.
There are no questions at this time.
Micki Hidayatallah: Well, thank you, and I thought that—well, there is one question.
Operator: One question did just come in and it’s from Steve Emerson from Emerson Investment Group. Please go ahead.
Steve Emerson: First of all, excellent results. I’m sure everybody would like to have a feeling for—should oil be at, let’s say, $80, what kind of a run rate revenue and EBITDA range is reasonable for the year ahead, how protected is our Company in this kind of environment.
Micki Hidayatallah: I’m going to answer that, Steve. As you know, basically, we believe that at $80 a barrel we do not see much downside in the drilling programs or capital expenditures that our customers will make over 2015. We have the same visibility, as far as declining oil prices go, as any research analyst, and at best it’s opaque and murky. It’s totally dependent on global geopolitical and economic factors. What we can say is that, based on what we hear from the field, our customers have signed take-or-pay contracts for drilling rigs that vary from one to three years, and makes us believe that the intensity of services around oil-based mud and horizontal and lateral drilling will continue. We also believe that some of our customers have hedged between 50 and 75% of their production through the second quarter of the year, and so their drilling programs will continue.
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But, in the event that oil prices do fall further, we believe that the displacement on the supply side will cause shortages in the long run and prices will rise, together with demand, as lower prices will begin to stimulate the global economy. Our operations, in the worst circumstances, would be affected somewhat in the last six months of 2015, as our customers begin to really change their capital expenditure programs based on a sustained lower price. My personal opinion is that it would have to be below $70 during this period, but we still believe that, for the reasons mentioned above, that oil prices will begin to rebound in 2016 because of supply dislocation and the worldwide economic stimulant.
The other thing I would like to say is that as shale technology improves, specifically in the oil-based mud and lateral and horizontal drilling, long range, the amount of production in these shale plays will grow in the well in a shorter period of time, thereby you’d have more oil, a shorter period of time, less expenditure, and your price per barrel of oil will continue to fall as technology develops in the shale plays.
Steve Emerson: Thank you very much, and if I can, a follow-on. Mark mentioned that you’re driven in part by environmental regulation. How strong a tailwind is this for you? What is our current addressable per well market, or is there any way to quantify the growth per well of services you’re rendering, or possible, with mud recycle and other environmental factors?
Mark Patterson: Steve, I’ll address that, if you would like. The mention of the environmental product offerings that we supply were examples of how we have—I think I used the word creeping environmental regulations, and we certainly know that our core operations in the Northeast, where we provide closed-loop systems for operators drilling in the Marcellus shale and the Utica, that the environmental side of the equation is very, very serious, and so that’s why our products and services in the Northeast, through those systems, are very, very important, and we have a focus on expanding our customer base and the number of rigs we serve in that area, that’s a focus for us because of that. We also have a very good opportunity in Texas, specifically, to grow our containment business. It’s mandated by the state necessarily, but we have operators that some provide—I mean, ask for containment and some do not, but we are seeing a growing demand for containment on well sites and we are focused on continuing to grow that sector of our business, as well.
So, we are very much aware of the environmental side of this business and we want to be not only in compliance, but we want to be on the cutting edge of supplying solutions to our customers in that creeping market, where we look at potentially more and more government regulations associated with the environment.
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Did that answer your question, Steve?
Steve Emerson: Yes, do you mean by containment rubber tanks or fluids? What are you referring to?
Mark Patterson: What we do is we provide these plastic barriers and plastic that go underneath—they have the capacity to go underneath a complete well site, but, typically, it’s underneath the rigs, some of the rig’s equipment, and certainly around—underneath and around our equipment, our mud-circulating tanks. So, as it houses all this mud, in the event there were a leak, or something associated with the delivery of the oil-based mud, then whatever spill occurred would be captured inside that barrier and the clean-up would be very easy and would not have any impact on the ground.
When I speak of containment, I’m talking about containing oil-based mud and/or oil spills that are on the well site, utilizing our containment systems.
Steve Emerson: Okay, and finally, I don’t know if you have a number, but do you have an approximation of your visible backlog?
Micki Hidayatallah: We actually operate on a day rate basis. So, what we would consider is our backlog, we are working on about 100 rigs today and our day rate is probably generating somewhere around 175,000. So, we continue to generate on a daily basis about 175,000, and obviously, as we gain customers, gain rigs, this changes, or if our customers decide to lay down a rig or there’s a rig moved, it changes, but that’s our current run rate on a daily basis.
Steve Emerson: Okay, thank you. Excellent quarter.
Micki Hidayatallah: Thank you. Thanks, Steve. If there are no further questions, I’ll adjourn the conference call and thank you all for taking the time to attend. Thank you.
Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.
PWEB.. $0.025.. Ready for what.. The bids and ask have moved around like musical chairs W/O any change in Volume.. The ask was $0.025 then the bid is $0.0257 w/o a share trading.. Looks like a rigged and phoney market to me,, Be carefull.. hank
GRBK.. $6.63.. This migt help.. Green Brick Partners reports Q3 results (Stock Price: 6.42 Change: +0.05)
Briefing - Nov 17 10:22 EDT
Alert hits:/gr
Company Symbols: NASDAQ-SMALL:GRBK
For Q3, JBGL had revenue of $49,675,603, gross profit of $15,023,495, and EBITDA attributable to controlling interest of $4,077,146. This compares to revenue of $67,155,659, gross profit of $20,846,848 and EBITDA attributable to controlling interest of $10,072,875 during the comparable period of 2013.
Builder operations revenue declined from $60,797,401 during the three months ended September 30, 2013 to $39,900,428 for the three months ended September 30, 2014 and gross profit declined from $19,289,710 to $12,668,589 for the same periods.
Due to: During the first half of 2013 we had a large amount of completed inventory within our best selling neighborhoods which resulted in an unseasonably large volume of closings during the third quarter of 2013. In addition, two of our bestselling neighborhoods in Atlanta closed out either before or during the third quarter of 2014; also a labor shortage.
"On Thursday, we will have our first public conference call, where we will introduce our strategy, and describe our strong market position including details on our two largest neighborhoods that will begin generating revenue for the first time after two years of planning and development and ~ $75 million of investment."
GRBK is former Biofuel (BIOF) after it acquired JBGL Builder Finance.
AEMD.. $0.4059.. THIS seems like a no brainer,, what am I missing..??
Aethlon Medical's Hemopurifier® Used in Successful Treatment of Patient with Advanced Ebola Infection
PR Newswire - Nov 14 11:34 EDT
Alert hits:/ae
Company Symbols: OTC-PINK:AEMD
242 Million Copies of Ebola Virus Removed from Patient during Treatment, Physician Reports at American Society of Nephrology Annual Meeting
SAN DIEGO and PHILADELPHIA, Nov. 14, 2014 /PRNewswire/ -- The Aethlon Hemopurifier® was used in the successful treatment of a critically-ill Ebola-infected patient in Frankfurt, Germany, according to data presented today at the American Society of Nephrology (ASN) Annual Meeting by Helmut Geiger, M.D., Chief of Nephrology at Goethe University, Frankfurt University Hospital. Geiger reported that 242 million Ebola viruses were captured within the Aethlon Hemopurifier® during treatment, a number verified by a post-treatment elution protocol. The patient is no longer infected with Ebola virus and is expected to make a full recovery.
Aethlon Hemopurifier.
Aethlon Medical, Inc. (NASDAQ:OTCQB:AEMD), the pioneer in developing targeted therapeutic devices to treat infectious disease, created the Hemopurifier®, a first-in-class bio-filtration device that targets the rapid elimination of viruses and immunosuppressive proteins from the circulatory system of infected individuals.
The Frankfurt University Hospital patient, a Ugandan physician, who was infected with Ebola in Sierra Leone where he was treating Ebola patients, was not administered Hemopurifier® therapy until 12 days after being diagnosed.
At the time of Hemopurifier® administration, Dr. Geiger reported that the Ebola patient was unconscious and suffering from multiple organ failure, which required mechanical ventilation, continuous dialysis and the administration of vasopressor medications.
The patient's viral load prior to the administration of a single 6.5-hour Hemopurifier® treatment was measured 400,000 virus copies per milliliter of blood (copies/ml). Post-treatment viral load was measured at 1,000 copies/ml and never again rose above that level. The treatment was well tolerated with no adverse events reported.
Since the administration of Hemopurifier® therapy, Frankfurt University Hospital officials have reported that Ebola virus is no longer detectable in the patient's blood and full recovery is expected.
"The rate of viral load reduction and magnitude of Ebola virus captured within the Hemopurifier® is quite remarkable when considering the lethality of Ebola infection and the compromised health of the patient," stated James A. Joyce, Chairman and CEO of Athlon Medical. "We're thrilled for the patient and applaud the tireless effort of physicians in Frankfurt who helped to save the patient's life. We will continue to advance Hemopurifier® therapy as a lead candidate to address antiviral drug resistance and the sole broad-spectrum strategy to address Ebola other viruses where drugs and vaccines have not proven to be effective."
Aethlon will soon begin the first U.S. clinical Hemopurifier® studies following the United States Food and Drug Administration's (FDA)'s approval of an Investigational Device Exemption (IDE). The study will contribute safety data to advance the device as a broad-spectrum countermeasure against pandemic threats, including Ebola and chronic viral pathogens such as HIV and Hepatitis C (HCV).
About Aethlon Medical, Inc.
Aethlon Medical creates targeted therapeutic devices to address infectious disease, cancer and neurodegenerative disorders. The company's lead product is the Aethlon Hemopurifier®, a first-in-class antiviral and immunotherapeutic device that selectively targets the broad-spectrum elimination of circulating viruses and tumor-secreted exosomes that promote cancer progression. Exosome Sciences, Inc. is a majority owned subsidiary that is advancing exosome-based products to diagnose and monitor cancer, infectious disease and neurological disorders.
For more information, please visit http://www.aethlonmedical.com/ and connect with the Company on Twitter, LinkedIn, Facebook and Google+.
Contacts:
Leah-Michelle Nebbia (for interviews requests)
Golin
202-585-2651
lnebbia@golin.com
James A. Joyce
Chairman and CEO
858.459.7800 x301
jj@aethlonmedical.com
Jim Frakes
Chief Financial Officer
858.459.7800 x300
jfrakes@aethlonmedical.com
Posts W/O symbols as posted in the sticky will be deleted... I just deleted A FEW.. hank
To get volume all you need is a bid and the Converters will find you.. Earnings were down this latest reporting period and shares were almost double from the same period last year and 60 Times from the same period 2 years ago.. .. Dilution is the problem,, not the company.. Company boasts that it's assets are up.. But you don't see the Lia. going up explained.. I'm on the way out,, be back in 2 weeks.. Happy Holiday.. hank
Earnings were down during the latest reporting period.. Some candy stores earn more money.. 1.5 Billion plus fully diluted shares,, up 87 times in the past 2 years.. .. What is there to like..??
PR out and here come the Converters.. Right on cue..
Alliance Creative Group Reports Third Quarter 2014 Results With 22% Year to Date Revenue Growth and a 27% Increase in Year to Date Gross Profit Earning were actually down.. Gross profits are meaningless as it is profits before expenses....
Another try at putting lipstick on a pig..As to discussions on the future,, as I said talk is cheap.. BTW no where is the current shares outstand and fully diluted shares outstanding..
Marketwire - Nov 12 08:30 EDT
Company on Pace to Generate Over $12,000,000 in Revenue for 2014
CHICAGO, IL -- (Marketwired) -- 11/12/14 -- Alliance Creative Group, Inc. (www.AllianceCreativeGroup.com) (OTC: ACGX) is pleased to announce its results of operations for the three months ended September 30, 2014.
Revenues for the quarter ended September 30, 2014 were $2,812,216 with year to date (YTD) revenue of $9,114,632, an increase of $155,336 and $1,633,548 or 6% and 22% compared with $2,656,880, for the quarter and $7,481,084 YTD ended September 30, 2013.
Gross Profits were $724,690 for the quarter and $2,333,741 YTD for the period ended September 30, 2014, an increase of $35,202 and $492,235 or 5% and 26.7% compared to $689,488 and $1,841,506 for the quarter and YTD ended September 30, 2013.
Net Incomes were $13,651 and $366,825 for the quarter and YTD ended September 30, 2014, a decrease of $40,111 and an increase of $302,844 or a 473% increase in YTD net income compared to $54,062 and $63,981 for the quarter and YTD ended September 30, 2013.
The total assets as of September 30, 2014 were $5,901,659, an increase of $274,982 compared to September 30, 2013 when they were $5,626,677.
The total outstanding common shares as of September 30, 2014 were 707,160,608 with 606,839,233 of those shares in the float.
The full financial statement, balance sheet, cash flow statement, stockholder equity and information and disclosure statements are posted on the company website at http://ir.alliancecreativegroup.com/otc-disclosure and on the OTC Market Company website at www.OTCmarkets.com under ACGX's section for filings and disclosure.
CEO of the Alliance Creative Group, Steven St. Louis, said, "We are on pace to generate over $12,000,000 in revenue this year and although our core business has been around for 17 years and we have built a solid and consistent foundation I understand that as a public company we need to be more aggressive in developing, acquiring or partnering with people, companies and projects to attempt to grow faster. During the last few months we have been in talks with a few dozen different companies in all types of industries that we feel could add some exciting and expandable opportunities. Some of the discussions include selling some assets and acquiring other assets that we feel would position us better to accomplish our long-term goal of increasing long-term shareholder value. Although nothing is finalized and nothing is guaranteed to create our desired results we feel confident that we can close 1 or 2 deals in the next quarter or multiple transactions in 2015 and beyond. We will update the public as deals close."
About Alliance Creative Group, Inc.
Alliance Creative Group is a printing, packaging, supply chain, product development and brand management consulting and marketing company. The Alliance Creative Group utilizes shared resources to create efficiencies between their projects and internal divisions to create quality results and long-term partnerships. The core business areas include creative and design services, printing and packaging, product development, fulfillment, logistics and strategic consulting and marketing. For more information, visit www.AllianceCreativeGroup.com, www.Print4aCause.com and www.CorporateGifts4aCause.com.
Safe Harbor Statement
This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events and/or performance, underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks described in statements filed from time to time with the Securities and Exchange Commission or the OTC Markets. All such forward-looking statements whether written or oral, and whether made by or on behalf of the Company, are expressly qualified by the cautionary statements that may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
Investor Relations and Media Contact
1-847-885-1800 ext 6
info@ACGemail.com
ELMD $1.62.. Electromed, Inc. Reports Higher First Quarter Revenues and Profits
OUT OF THE PARK.. HANK
NEW PRAGUE, Minn.--(BUSINESS WIRE)-- Electromed, Inc. (NYSE MKT: ELMD) today announced financial results for the three-month period ended September 30, 2014. Net revenues for the first quarter of fiscal 2015 rose approximately 40% to $4.8 million, compared to $3.4 million in the first quarter of fiscal 2014. The Company reported net income of $378,000, or $0.05 cents per basic and diluted share, for the first quarter of fiscal 2015, compared to a net loss of $335,000, or ($0.04) cents per basic and diluted share, for the same period of fiscal 2014.
Kathleen Skarvan, Electromed’s chief executive officer, commented, “The first quarter results are further evidence that we have made significant progress on our strategy to strengthen and grow the Company’s core business, as demonstrated by our strong revenue growth which resulted in improved profitability and cash flow.”
Growth in total net revenues was attributable to strong results in the home care market where sales increased by approximately 35%, or $1.0 million, compared to the same period of fiscal 2014. Home care sales increased due to continued improvements in the Company’s reimbursement operations, including new third party payer contracts and process improvements, which led to faster approval cycle times, higher average selling price and greater referral to approval percentage. International sales increased by 168%, or $250,000, due primarily to the favorable timing of orders placed by international distributors. Institutional sales increased 25%, or $105,000, compared to the first quarter of fiscal 2014.
Gross margins in the first quarter of fiscal 2015 improved to 69.1% from 68.9% in the first quarter of fiscal 2014 as stronger revenues offset the higher manufacturing costs for the SmartVest SQL™ product as compared to the predecessor product, SV2100™. Over time, the Company expects to bring manufacturing costs for the SQL product roughly in line with previous products. Operating expenses, which include selling, general and administrative (SG&A) and research and development (R&D), declined to 61% of sales compared with 86% of sales in the first quarter of fiscal 2014. The decline resulted from the higher level of net sales in the first quarter of fiscal 2015. Operating expenses rose slightly due to higher sales commission expense and additional personnel in the reimbursement area, offset by a reduction in R&D expenses.
The Company generated $945,000 of cash flow from operations in the first quarter and finished the quarter with over $2.2 million of cash on hand.
“The fundamentals of the quarter are encouraging, including the market’s acceptance of our newest generation device, the SQL, and I believe there are opportunities for us to expand our market share,” said Skarvan. “Amidst the challenging reimbursement environment, we have streamlined our reimbursement and enhanced the customer services processes and are having more referrals approved resulting in higher net revenues. We are continuing to upgrade our sales team to maximize their productivity and effectiveness and improve domestic home care lead generation, our highest opportunity for sales growth.
“I am very pleased with the way the Electromed team is delivering against our operating plan and our progress toward delivering profitable growth that is sustainable beyond fiscal 2015.”
About Electromed, Inc.
Electromed, Inc. manufactures, markets, and sells products that provide airway clearance therapy, including the SmartVest® Airway Clearance System and related products, to patients with compromised pulmonary function. Further information about the Company can be found at www.electromed.com.
Cautionary Statements
Certain statements found in this release may constitute forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect the speaker’s current views with respect to future events and financial performance and include any statement that does not directly relate to a current or historical fact. Forward-looking statements can generally be identified by the words “believe,” “expect,” “anticipate” or “intend” or similar words. Forward-looking statements made in this release include the Company’s beliefs regarding the impact of industry trends and legislation on revenue and the Company’s revenue growth and cost control strategies. Forward-looking statements cannot be guaranteed and actual results may vary materially due to the uncertainties and risks, known and unknown, associated with such statements. Examples of risks and uncertainties for Electromed include, but are not limited to, the impact of emerging and existing competitors, the effect of new legislation on our industry and business, the effectiveness of our sales and marketing and cost control initiatives, changes to reimbursement programs, as well as other factors described from time to time in our reports to the Securities and Exchange Commission (including our Annual Report on Form 10-K). Investors should not consider any list of such factors to be an exhaustive statement of all of the risks, uncertainties or potentially inaccurate assumptions investors should take into account when making investment decisions. Shareholders and other readers should not place undue reliance on “forward-looking statements,” as such statements speak only as of the date of this release.
Electromed, Inc. and Subsidiary
Condensed Consolidated Balance Sheets
September 30,
June 30,
2014 2014
Assets (Unaudited)
Current Assets
Cash and cash equivalents $ 2,280,126 $ 1,502,702
Accounts receivable (net of allowances for doubtful accounts of $45,000) 6,361,689 6,487,267
Inventories 2,243,198 2,235,496
Prepaid expenses and other current assets 485,674 397,853
Total current assets 11,370,687 10,623,318
Property and equipment, net 3,944,975 3,935,802
Finite-life intangible assets, net assets,net 899,559 930,451
Other assets
299,902 302,595
Total assets $ 16,515,123 $ 15,792,166
Liabilities and Equity
Current Liabilities
Current maturities of long-term debt $ 47,003 $ 46,375
Accounts payable 781,823 380,582
Accrued compensation 447,354 391,040
Warranty reserve 720,000 700,000
Other accrued liabilities
166,497 302,482
Total current liabilities 2,162,677 1,820,479
Long-term debt, less current maturities 1,239,333 1,251,192
Total liabilities 3,402,010 3,071,671
Commitments and Contingencies
Equity
Common stock, $0.01 par value; authorized: 13,000,000 shares; 8,114,252 issued and outstanding
81,143 81,143
Additional paid-in capital 13,232,256 13,217,166
Accumulated deficit (200,286 ) (577,814 )
Total equity 13,113,113 12,720,495
Total liabilities and equity $ 16,515,123 $ 15,792,166
Electromed, Inc. and Subsidiary
Condensed Consolidated Statements of Operations (Unaudited)
For the Three Months Ended
September 30,
2014 2013
Net revenues $ 4,770,539 $ 3,418,178
Cost of revenues 1,475,797 1,062,346
Gross profit 3,294,742 2,355,832
Operating expenses
Selling, general and administrative 2,821,495 2,723,927
Research and development 75,265 209,108
Total operating expenses 2,896,760 2,933,035
Operating income (loss) 397,982 (577,203 )
Interest expense, net of interest income of $1,212 and $7,398 respectively 20,453 15,202
Net income (loss) before income taxes 377,529 (592,405 )
Income tax benefit - 257,000
Net income (loss) $ 377,529 $ (335,405 )
Earnings (loss) per share:
Basic and diluted $ 0.05 $ (0.04 )
Weighted-average common shares outstanding:
Basic 8,114,252 8,114,252
Diluted 8,114,252 8,114,252
Electromed, Inc. and Subsidiary
Condensed Consolidated Statements of Cash Flows (Unaudited)
For the Three Months Ended
September 30,
2014 2013
Cash Flows From Operating Activities
Net income (loss) $ 377,529 $ (335,405 )
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation 155,341 122,923
Amortization of finite-life intangible assets 30,892 31,619
Amortization of debt issuance costs 4,942 2,314
Share-based compensation expense 15,089 39,460
Loss on disposal of property and equipment 18,824 18,134
Changes in operating assets and liabilities:
Accounts receivable 125,578 1,024,688
Inventories (7,702 ) (52,628 )
Prepaid expenses and other assets (90,070 ) (270,260 )
Accounts payable and accrued liabilities 314,901 161,138
Net cash provided by operating activities 945,324 741,983
Cash Flows From Investing Activities
Expenditures for property and equipment (156,669 ) (148,915 )
Cash Flows From Financing Activities
Principal payments on long-term debt including capital lease obligations (11,231 ) (19,250 )
Net increase in cash and cash equivalents 777,424 573,818
Cash and cash equivalents
Beginning of period 1,502,702 503,564
End of period $ 2,280,126 $ 1,077,382
Electromed, Inc.
Kathleen Skarvan, 952-758-9299
Chief Executive Officer
kskarvan@electromed.com
Source: Electromed, Inc.
Copyright Business Wire 2014
Electromed, Inc. Reports Higher First Quarter Revenues and Profits
OUT OF THE PARK.. HANK
NEW PRAGUE, Minn.--(BUSINESS WIRE)-- Electromed, Inc. (NYSE MKT: ELMD) today announced financial results for the three-month period ended September 30, 2014. Net revenues for the first quarter of fiscal 2015 rose approximately 40% to $4.8 million, compared to $3.4 million in the first quarter of fiscal 2014. The Company reported net income of $378,000, or $0.05 cents per basic and diluted share, for the first quarter of fiscal 2015, compared to a net loss of $335,000, or ($0.04) cents per basic and diluted share, for the same period of fiscal 2014.
Kathleen Skarvan, Electromed’s chief executive officer, commented, “The first quarter results are further evidence that we have made significant progress on our strategy to strengthen and grow the Company’s core business, as demonstrated by our strong revenue growth which resulted in improved profitability and cash flow.”
Growth in total net revenues was attributable to strong results in the home care market where sales increased by approximately 35%, or $1.0 million, compared to the same period of fiscal 2014. Home care sales increased due to continued improvements in the Company’s reimbursement operations, including new third party payer contracts and process improvements, which led to faster approval cycle times, higher average selling price and greater referral to approval percentage. International sales increased by 168%, or $250,000, due primarily to the favorable timing of orders placed by international distributors. Institutional sales increased 25%, or $105,000, compared to the first quarter of fiscal 2014.
Gross margins in the first quarter of fiscal 2015 improved to 69.1% from 68.9% in the first quarter of fiscal 2014 as stronger revenues offset the higher manufacturing costs for the SmartVest SQL™ product as compared to the predecessor product, SV2100™. Over time, the Company expects to bring manufacturing costs for the SQL product roughly in line with previous products. Operating expenses, which include selling, general and administrative (SG&A) and research and development (R&D), declined to 61% of sales compared with 86% of sales in the first quarter of fiscal 2014. The decline resulted from the higher level of net sales in the first quarter of fiscal 2015. Operating expenses rose slightly due to higher sales commission expense and additional personnel in the reimbursement area, offset by a reduction in R&D expenses.
The Company generated $945,000 of cash flow from operations in the first quarter and finished the quarter with over $2.2 million of cash on hand.
“The fundamentals of the quarter are encouraging, including the market’s acceptance of our newest generation device, the SQL, and I believe there are opportunities for us to expand our market share,” said Skarvan. “Amidst the challenging reimbursement environment, we have streamlined our reimbursement and enhanced the customer services processes and are having more referrals approved resulting in higher net revenues. We are continuing to upgrade our sales team to maximize their productivity and effectiveness and improve domestic home care lead generation, our highest opportunity for sales growth.
“I am very pleased with the way the Electromed team is delivering against our operating plan and our progress toward delivering profitable growth that is sustainable beyond fiscal 2015.”
About Electromed, Inc.
Electromed, Inc. manufactures, markets, and sells products that provide airway clearance therapy, including the SmartVest® Airway Clearance System and related products, to patients with compromised pulmonary function. Further information about the Company can be found at www.electromed.com.
Cautionary Statements
Certain statements found in this release may constitute forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect the speaker’s current views with respect to future events and financial performance and include any statement that does not directly relate to a current or historical fact. Forward-looking statements can generally be identified by the words “believe,” “expect,” “anticipate” or “intend” or similar words. Forward-looking statements made in this release include the Company’s beliefs regarding the impact of industry trends and legislation on revenue and the Company’s revenue growth and cost control strategies. Forward-looking statements cannot be guaranteed and actual results may vary materially due to the uncertainties and risks, known and unknown, associated with such statements. Examples of risks and uncertainties for Electromed include, but are not limited to, the impact of emerging and existing competitors, the effect of new legislation on our industry and business, the effectiveness of our sales and marketing and cost control initiatives, changes to reimbursement programs, as well as other factors described from time to time in our reports to the Securities and Exchange Commission (including our Annual Report on Form 10-K). Investors should not consider any list of such factors to be an exhaustive statement of all of the risks, uncertainties or potentially inaccurate assumptions investors should take into account when making investment decisions. Shareholders and other readers should not place undue reliance on “forward-looking statements,” as such statements speak only as of the date of this release.
Electromed, Inc. and Subsidiary
Condensed Consolidated Balance Sheets
September 30,
June 30,
2014 2014
Assets (Unaudited)
Current Assets
Cash and cash equivalents $ 2,280,126 $ 1,502,702
Accounts receivable (net of allowances for doubtful accounts of $45,000) 6,361,689 6,487,267
Inventories 2,243,198 2,235,496
Prepaid expenses and other current assets 485,674 397,853
Total current assets 11,370,687 10,623,318
Property and equipment, net 3,944,975 3,935,802
Finite-life intangible assets, net assets,net 899,559 930,451
Other assets
299,902 302,595
Total assets $ 16,515,123 $ 15,792,166
Liabilities and Equity
Current Liabilities
Current maturities of long-term debt $ 47,003 $ 46,375
Accounts payable 781,823 380,582
Accrued compensation 447,354 391,040
Warranty reserve 720,000 700,000
Other accrued liabilities
166,497 302,482
Total current liabilities 2,162,677 1,820,479
Long-term debt, less current maturities 1,239,333 1,251,192
Total liabilities 3,402,010 3,071,671
Commitments and Contingencies
Equity
Common stock, $0.01 par value; authorized: 13,000,000 shares; 8,114,252 issued and outstanding
81,143 81,143
Additional paid-in capital 13,232,256 13,217,166
Accumulated deficit (200,286 ) (577,814 )
Total equity 13,113,113 12,720,495
Total liabilities and equity $ 16,515,123 $ 15,792,166
Electromed, Inc. and Subsidiary
Condensed Consolidated Statements of Operations (Unaudited)
For the Three Months Ended
September 30,
2014 2013
Net revenues $ 4,770,539 $ 3,418,178
Cost of revenues 1,475,797 1,062,346
Gross profit 3,294,742 2,355,832
Operating expenses
Selling, general and administrative 2,821,495 2,723,927
Research and development 75,265 209,108
Total operating expenses 2,896,760 2,933,035
Operating income (loss) 397,982 (577,203 )
Interest expense, net of interest income of $1,212 and $7,398 respectively 20,453 15,202
Net income (loss) before income taxes 377,529 (592,405 )
Income tax benefit - 257,000
Net income (loss) $ 377,529 $ (335,405 )
Earnings (loss) per share:
Basic and diluted $ 0.05 $ (0.04 )
Weighted-average common shares outstanding:
Basic 8,114,252 8,114,252
Diluted 8,114,252 8,114,252
Electromed, Inc. and Subsidiary
Condensed Consolidated Statements of Cash Flows (Unaudited)
For the Three Months Ended
September 30,
2014 2013
Cash Flows From Operating Activities
Net income (loss) $ 377,529 $ (335,405 )
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation 155,341 122,923
Amortization of finite-life intangible assets 30,892 31,619
Amortization of debt issuance costs 4,942 2,314
Share-based compensation expense 15,089 39,460
Loss on disposal of property and equipment 18,824 18,134
Changes in operating assets and liabilities:
Accounts receivable 125,578 1,024,688
Inventories (7,702 ) (52,628 )
Prepaid expenses and other assets (90,070 ) (270,260 )
Accounts payable and accrued liabilities 314,901 161,138
Net cash provided by operating activities 945,324 741,983
Cash Flows From Investing Activities
Expenditures for property and equipment (156,669 ) (148,915 )
Cash Flows From Financing Activities
Principal payments on long-term debt including capital lease obligations (11,231 ) (19,250 )
Net increase in cash and cash equivalents 777,424 573,818
Cash and cash equivalents
Beginning of period 1,502,702 503,564
End of period $ 2,280,126 $ 1,077,382
Electromed, Inc.
Kathleen Skarvan, 952-758-9299
Chief Executive Officer
kskarvan@electromed.com
Source: Electromed, Inc.
Copyright Business Wire 2014
Talk is about as cheap as the stock.. Think about it,, if you owned a company would you sell it for ACGX paper..???
BTW I'm out of here for a few weeks so let me leave you with this little bit of past history.. Have a Happy Turkey Day... hank
Paul Sorkin letter from the past..10 bagger Member Level Friday, 10/05/12 02:19:53 PM
Re: None
Post # of 362
Just because they didn't update that doesn't mean they didn't dilute.. The A/R is meaningless as they change that at will..
It's almost like how can one tell they are not lieing,, they don't put out releases.. The releases are factual and show a nice little company but leave out one fact that is important,, they have diluted the shares 87 times in just the past 2 years.. and all numbers are unaudited.. $0.000's coming before year end.. BTW has anyone ever seen a press release with shares outstanding in the past 2 years after the on with 8.5 Million out and $0.12 EPS.. $0.12 EPS just two years ago.. Unreal.. ANY Shares bought 2 years ago are almost worthless..
RNWEY.. $0.1528...
Fornebu, November 4, 2014: REC Silicon ASA reported third quarter 2014 revenues of USD 126.5 million and EBITDA excluding special items from continuing operations of USD 44.9 million. In addition, the Company recognized special items of USD 101 million related to the sale of its silane based FBR-B technology to the joint venture in China. REC Silicon ASA reported total EBITDA of USD 145.9 million.
Debt has been reduced by USD 55 million to USD 228 million, primarily due to the repayment of an NOK 196 million bond (REC01).
REC Silicon Segment reported third quarter revenues of USD 126.5 million, compared to USD 126.8 million in the previous quarter. Lower polysilicon sales volumes were offset by record silicon gas sales volumes and resulted in revenues broadly in line with the previous quarter. The corresponding EBITDA excluding special items during the third quarter was USD 45.5 million compared to USD 33.1 million in the previous quarter. The increased EBITDA can be attributed primarily to lower costs driven by stable operations and high production levels.
The Segment also reported record silicon gas sales volumes. Sales volumes were driven by a combination of improved end use demand and by competitive capacity being offline.
The Company is announcing a 3,000 MT granular polysilicon expansion at its Moses Lake facility and an agreement to investigate the development of a 20,000 MT granular polysilicon plant in Saudi Arabia.
Additionally, the Company reported the receipt of the final technology transfer payment of USD 99 million from the Joint Venture in China. Front End Engineering Design (FEED) has been delivered and the project has relocated to China to begin detailed engineering.
"Increased EBITDA in the third quarter is primarily the result of stable operations and continued focus on production efficiency. The results demonstrate the value of REC Silicon's superior FBR technology," commented Tore Torvund, CEO of REC Silicon. "I am pleased that our FBR technology is being recognized as the leading polysilicon manufacturing technology which has resulted in the announcement to expand our Moses Lake facility, the Yulin JV in China, and a potential expansion in Saudi Arabia."
Net financial items resulted in income of USD 45.7 million, mainly reflecting net currency gains, and fair value adjustment of convertible bonds offset by interest expense.
Profit from continuing operations was USD 119.5 million in the third quarter, compared to USD 24.6 million in the previous quarter. The improved result mainly reflects higher EBITDA, special items, and positive net financial items.
Basic and diluted EPS from total operations was USD 0.05 in the third quarter 2014, compared to USD 0.01 in the previous quarter.
For more information, please see the attached third quarter 2014 report.
Morning program:
The Company will give a presentation at 08:00 a.m. CET today at Konferansesenteret Høyres Hus, Stortingsgaten 20, 0117 Oslo, Norway. The presentation will be held in English.
There will be a live webcast from the presentation which can be accessed from: www.recsilicon.com.
It will also be possible to listen to the presentation through a conference call. Please make sure to dial in 10 minutes prior to scheduled start time on one of the following numbers:
Norway Toll Free: 800 56 054
UK Toll Free: 0800 279 5004
USA Toll Free: 1 877 280 2296
International Toll: +44 (0)20 3427 1915
Please provide confirmation code 5650922 and state your name, company and country of residence.
Afternoon program:
REC Silicon will host an analyst conference call with possibilities for questions and answers later the same day at 3:00 p.m. CET. Please make sure to dial in at least five minutes ahead of time to complete your registration.
International dial in: +47 2316 2729
Please provide confirmation code 1513752 and state your name, company and country of residence.
For further information, please contact:
Mitra H. Negård, Investor Relations
REC Silicon ASA
Phone: +47 957 93 631
Email: mitra.negard@recsilicon.com
About REC Silicon
REC Silicon is a leading producer of advanced silicon materials, delivering high-purity polysilicon and silicon gas to the solar and electronics industries worldwide. We combine 25 years of experience and proprietary technology with the needs of our customers, and annual production capacity of more than 20,000 MT of polysilicon from our two US-based manufacturing plants. Listed on the Oslo Stock Exchange (ticker: REC), the company is headquartered in Moses Lake, Washington and employs 710 people.
For more information, go to: www.recsilicon.com
RNWEY.. $0.1528...
Fornebu, November 4, 2014: REC Silicon ASA reported third quarter 2014 revenues of USD 126.5 million and EBITDA excluding special items from continuing operations of USD 44.9 million. In addition, the Company recognized special items of USD 101 million related to the sale of its silane based FBR-B technology to the joint venture in China. REC Silicon ASA reported total EBITDA of USD 145.9 million.
Debt has been reduced by USD 55 million to USD 228 million, primarily due to the repayment of an NOK 196 million bond (REC01).
REC Silicon Segment reported third quarter revenues of USD 126.5 million, compared to USD 126.8 million in the previous quarter. Lower polysilicon sales volumes were offset by record silicon gas sales volumes and resulted in revenues broadly in line with the previous quarter. The corresponding EBITDA excluding special items during the third quarter was USD 45.5 million compared to USD 33.1 million in the previous quarter. The increased EBITDA can be attributed primarily to lower costs driven by stable operations and high production levels.
The Segment also reported record silicon gas sales volumes. Sales volumes were driven by a combination of improved end use demand and by competitive capacity being offline.
The Company is announcing a 3,000 MT granular polysilicon expansion at its Moses Lake facility and an agreement to investigate the development of a 20,000 MT granular polysilicon plant in Saudi Arabia.
Additionally, the Company reported the receipt of the final technology transfer payment of USD 99 million from the Joint Venture in China. Front End Engineering Design (FEED) has been delivered and the project has relocated to China to begin detailed engineering.
"Increased EBITDA in the third quarter is primarily the result of stable operations and continued focus on production efficiency. The results demonstrate the value of REC Silicon's superior FBR technology," commented Tore Torvund, CEO of REC Silicon. "I am pleased that our FBR technology is being recognized as the leading polysilicon manufacturing technology which has resulted in the announcement to expand our Moses Lake facility, the Yulin JV in China, and a potential expansion in Saudi Arabia."
Net financial items resulted in income of USD 45.7 million, mainly reflecting net currency gains, and fair value adjustment of convertible bonds offset by interest expense.
Profit from continuing operations was USD 119.5 million in the third quarter, compared to USD 24.6 million in the previous quarter. The improved result mainly reflects higher EBITDA, special items, and positive net financial items.
Basic and diluted EPS from total operations was USD 0.05 in the third quarter 2014, compared to USD 0.01 in the previous quarter.
For more information, please see the attached third quarter 2014 report.
Morning program:
The Company will give a presentation at 08:00 a.m. CET today at Konferansesenteret Høyres Hus, Stortingsgaten 20, 0117 Oslo, Norway. The presentation will be held in English.
There will be a live webcast from the presentation which can be accessed from: www.recsilicon.com.
It will also be possible to listen to the presentation through a conference call. Please make sure to dial in 10 minutes prior to scheduled start time on one of the following numbers:
Norway Toll Free: 800 56 054
UK Toll Free: 0800 279 5004
USA Toll Free: 1 877 280 2296
International Toll: +44 (0)20 3427 1915
Please provide confirmation code 5650922 and state your name, company and country of residence.
Afternoon program:
REC Silicon will host an analyst conference call with possibilities for questions and answers later the same day at 3:00 p.m. CET. Please make sure to dial in at least five minutes ahead of time to complete your registration.
International dial in: +47 2316 2729
Please provide confirmation code 1513752 and state your name, company and country of residence.
For further information, please contact:
Mitra H. Negård, Investor Relations
REC Silicon ASA
Phone: +47 957 93 631
Email: mitra.negard@recsilicon.com
About REC Silicon
REC Silicon is a leading producer of advanced silicon materials, delivering high-purity polysilicon and silicon gas to the solar and electronics industries worldwide. We combine 25 years of experience and proprietary technology with the needs of our customers, and annual production capacity of more than 20,000 MT of polysilicon from our two US-based manufacturing plants. Listed on the Oslo Stock Exchange (ticker: REC), the company is headquartered in Moses Lake, Washington and employs 710 people.
For more information, go to: www.recsilicon.com
RNWEY.. $0.1528...
Fornebu, November 4, 2014: REC Silicon ASA reported third quarter 2014 revenues of USD 126.5 million and EBITDA excluding special items from continuing operations of USD 44.9 million. In addition, the Company recognized special items of USD 101 million related to the sale of its silane based FBR-B technology to the joint venture in China. REC Silicon ASA reported total EBITDA of USD 145.9 million.
Debt has been reduced by USD 55 million to USD 228 million, primarily due to the repayment of an NOK 196 million bond (REC01).
REC Silicon Segment reported third quarter revenues of USD 126.5 million, compared to USD 126.8 million in the previous quarter. Lower polysilicon sales volumes were offset by record silicon gas sales volumes and resulted in revenues broadly in line with the previous quarter. The corresponding EBITDA excluding special items during the third quarter was USD 45.5 million compared to USD 33.1 million in the previous quarter. The increased EBITDA can be attributed primarily to lower costs driven by stable operations and high production levels.
The Segment also reported record silicon gas sales volumes. Sales volumes were driven by a combination of improved end use demand and by competitive capacity being offline.
The Company is announcing a 3,000 MT granular polysilicon expansion at its Moses Lake facility and an agreement to investigate the development of a 20,000 MT granular polysilicon plant in Saudi Arabia.
Additionally, the Company reported the receipt of the final technology transfer payment of USD 99 million from the Joint Venture in China. Front End Engineering Design (FEED) has been delivered and the project has relocated to China to begin detailed engineering.
"Increased EBITDA in the third quarter is primarily the result of stable operations and continued focus on production efficiency. The results demonstrate the value of REC Silicon's superior FBR technology," commented Tore Torvund, CEO of REC Silicon. "I am pleased that our FBR technology is being recognized as the leading polysilicon manufacturing technology which has resulted in the announcement to expand our Moses Lake facility, the Yulin JV in China, and a potential expansion in Saudi Arabia."
Net financial items resulted in income of USD 45.7 million, mainly reflecting net currency gains, and fair value adjustment of convertible bonds offset by interest expense.
Profit from continuing operations was USD 119.5 million in the third quarter, compared to USD 24.6 million in the previous quarter. The improved result mainly reflects higher EBITDA, special items, and positive net financial items.
Basic and diluted EPS from total operations was USD 0.05 in the third quarter 2014, compared to USD 0.01 in the previous quarter.
For more information, please see the attached third quarter 2014 report.
Morning program:
The Company will give a presentation at 08:00 a.m. CET today at Konferansesenteret Høyres Hus, Stortingsgaten 20, 0117 Oslo, Norway. The presentation will be held in English.
There will be a live webcast from the presentation which can be accessed from: www.recsilicon.com.
It will also be possible to listen to the presentation through a conference call. Please make sure to dial in 10 minutes prior to scheduled start time on one of the following numbers:
Norway Toll Free: 800 56 054
UK Toll Free: 0800 279 5004
USA Toll Free: 1 877 280 2296
International Toll: +44 (0)20 3427 1915
Please provide confirmation code 5650922 and state your name, company and country of residence.
Afternoon program:
REC Silicon will host an analyst conference call with possibilities for questions and answers later the same day at 3:00 p.m. CET. Please make sure to dial in at least five minutes ahead of time to complete your registration.
International dial in: +47 2316 2729
Please provide confirmation code 1513752 and state your name, company and country of residence.
For further information, please contact:
Mitra H. Negård, Investor Relations
REC Silicon ASA
Phone: +47 957 93 631
Email: mitra.negard@recsilicon.com
About REC Silicon
REC Silicon is a leading producer of advanced silicon materials, delivering high-purity polysilicon and silicon gas to the solar and electronics industries worldwide. We combine 25 years of experience and proprietary technology with the needs of our customers, and annual production capacity of more than 20,000 MT of polysilicon from our two US-based manufacturing plants. Listed on the Oslo Stock Exchange (ticker: REC), the company is headquartered in Moses Lake, Washington and employs 710 people.
For more information, go to: www.recsilicon.com
Better dumb than long...............
Why if a buyout was coming would the company spend 15 Million shares to buy the services of Quality Stocks to do a failed pump.. Just can't pump as fast as they sell more stock seems to be the case.. ACGX is going $0.000's before new years.. hank
WWW.HOTSTOCKMARKET.COM/
http://www.hotstockmarket.com/
RNWEY..$0.15 Bid.. THIS IS GETTING TO BE A VERY INTERESTING INVESTMENT.. http://www.recsilicon.com/investors/
ONE SHOULD NOTE THAT ALMOST ALL BUSINESS IS CONDUCTED IN THE US AND IT'S MANUFACTURING OPERATIONS ARE IN WASHINGTON STATE..
RNWEY..$0.15 Bid.. THIS IS GETTING TO BE A VERY INTERESTING INVESTMENT.. http://www.recsilicon.com/investors/
ONE SHOULD NOTE THAT ALMOST ALL BUSINESS IS CONDUCTED IN THE US AND IT'S MANUFACTURING OPERATIONS ARE IN WASHINGTON STATE..
RNWEY..$0.15 Bid.. THIS IS GETTING TO BE A VERY INTERESTING INVESTMENT.. http://www.recsilicon.com/investors/
ONE SHOULD NOTE THAT ALMOST ALL BUSINESS IS CONDUCTED IN THE US AND IT'S MANUFACTURING OPERATIONS ARE IN WASHINGTON STATE..
Quality Stocks GONE..??
No need now since PR's are being posted one year out.. hank
MNDO.. $3.22.. MIND CTI Reports Third Consecutive Quarter of Record Revenues
YOQNEAM, ISRAEL -- (Marketwired) -- 11/03/14 -- MIND C.T.I. Ltd. (NASDAQ: MNDO), a leading provider of convergent end-to-end prepaid/postpaid billing and customer care product based solutions for service providers as well as unified communications analytics and call accounting solutions for enterprises, today announced results for its third quarter ended September 30, 2014.
The following will summarize our major achievements in the third quarter of 2014 as well as our business. Full financial results can be found in the Investors section of our website at www.mindcti.com/investor/PressReleases.asp and in our Form 6-K filed with the Securities and Exchange Commission.
Q3 2014 Financial Highlights
Revenues were $6.5 million, up 44% from $4.5 million in the third quarter of 2013.
Operating income was $2.2 million, or 34% of revenue, compared to $0.6 million, or 13% of revenue, in the third quarter of 2013.
Net income was $1.1 million, or $0.06 per share, compared to $0.6 million, or $0.03 per share in the third quarter of 2013.
One modest win and multiple follow-on orders.
Cash flow from operating activities was $1.1 million.
Cash position of $18.9 million as of September 30, 2014, compared to $18.4 million as of September 30, 2013.
Nine Months Financial Highlights
Revenues were $18.5 million, up 38% from $13.4 million in the first nine months of 2013.
Operating income was $4.9 million, or 27% of revenue, compared to $1.2 million, or 9% of revenue, in the first nine months of 2013.
Net income was $3.6 million, or $0.19 per share, compared to $1.2 million, or $0.06 per share in the first nine months of 2013.
Cash flow from operating activities was $3.5 million.
Operating Margins
The high operating margins, significantly over our target of 20%, are the result of our record revenues and a decrease in expenses. Favorable exchange rates due to the devaluation of currencies against the U.S. dollar had a meaningful contribution to the decrease in expenses. At the same time, those favorable exchange rates required provisioning for additional taxes and might have the opposite influence at some point. Such fluctuation in exchange rates contributes to volatility both in our revenues and our expenses.
Stable Workforce Size
Our workforce consists mainly of software engineers that perform different tasks related to development, testing, implementation and support of our solutions. The training of such engineers is a lengthy process. We need to plan ahead for our future needs and recruit accordingly in advance to meet our goals. In 2011 we announced that we plan to increase the company size in order to support new projects and multiple requests of engineering resources we receive from our growing customer base. In 2012 we announced that this trend is expected to continue in 2013 at approximately the same rate as we continue to encounter high demand. As mentioned a year ago, we believe we reached the size we need in order to support the growth. Thus, in the last 12 months we have maintained a stable workforce size, at around 360 employees.
Revenue Distribution for Q3 2014
Sales in the Americas represented 47.2%, sales in Europe represented 34.3% and sales in Israel represented 12.9% of our total revenue.
Revenues from customer care and billing software totaled $5.4 million, while revenues from enterprise call accounting software was $1.1 million.
Revenues from licenses were $1.2 million, or 19% of total revenues, while revenues from maintenance and additional services were $5.3 million, or 81% of total revenues.
One Modest Win and Multiple Follow-on Orders
The win is with a service provider in Africa that facilitates communications services across government agencies, including services under monthly budget limitations. Our enterprise solution, PhonEX-ONE, has been chosen since it includes a fully automated process for allocation of a monthly credit amount per telephone line, limitation of traffic when the credit is exhausted and periodic replenishment. In this project PhonEX-ONE will interface with Broadsoft centralized soft switch, performing mediation and provisioning. The usage reporting needs will be handled using the PhonEX-ONE reporting server and the traffic management dashboard modules, while financial activity will be accomplished within the customer's ERP system.
One follow-on order is with an existing customer that is looking to enhance functionality in our Point-of-Sale integrated module. Another follow-on order is with an existing customer wishing to enhance the Customer Loyalty program functionality.
Other follow-on orders from existing customers include mainly enhancing the professional services and engineering services we provide to them.
Monica Iancu, MIND President and CEO, commented: "We are thrilled to set again a new record in quarterly revenues that reflects the advancement of ongoing projects, timely completion of milestones and performance of additional services purchased by our customers. MIND's solutions enable service providers to market and generate additional revenues to all segments of the marketplace (business, retail, postpaid, prepaid, pay in advance and wholesale), improve operational efficiency and build a competitive advantage. We operate in a highly competitive space with one of the most comprehensive real-time converged billing and customer care solutions."
Dividend Update
In July 2003, our board of directors adopted our dividend policy and in October 2010 our board of directors updated this policy slightly. Under the existing policy, subject to specific board approval and applicable law, we declare a dividend distribution once per year, the amount being equal to our EBITDA plus financial income (expenses) minus taxes on income. Since 2003, we have distributed aggregate cash dividends of approximately $3.09 per share to our shareholders. We intend to continue to distribute cash dividends based on factors that include our cash position and activities.
In the last year, we needed to receive court approval formally required in order to enable a distribution since under Israeli law, a company with insufficient retained earnings is required to obtain approval from the court for such a cash distribution. Since we believe that by the end of 2014 we will have sufficient earnings to enable an additional dividend distribution, we expect to declare the 2014 dividend in February 2015, without the need for Court approval.
About MIND
MIND C.T.I. Ltd. is a leading provider of convergent end-to-end billing and customer care product based solutions for service providers as well as unified communications analytics and call accounting solutions for enterprises. MIND provides a complete range of billing applications for any business model (license, managed service or complete outsourced billing service) for Wireless, Wireline, Cable, IP Services and Quad-play carriers in more than 40 countries around the world. A global company, with twenty years of experience in providing solutions to carriers and enterprises, MIND operates from offices in the United States, Romania and Israel.
Cautionary Statement for Purposes of the "Safe Harbor" Provisions of the Private Securities Litigation Reform Act of 1995: All statements other than historical facts included in the foregoing press release regarding the Company's business strategy are "forward-looking statements." These statements are based on management's beliefs and assumptions and on information currently available to management. Forward-looking statements are not guarantees of future performance, and actual results may materially differ. The forward-looking statements involve risks, uncertainties, and assumptions, including the risks discussed in the Company's filings with the United States Securities Exchange Commission. The Company does not undertake to update any forward-looking information.
For more information please contact:
Andrea Dray MIND C.T.I. Ltd. Tel: +972-4-993-6666
investor@mindcti.com
Source: MIND CTI Ltd.
STCC.. $0.06.. I have been adding at least twice a week and IMO it's a $0.35 stock next year.. hank
STCC.. $0.06 Sterling Consolidated Announces Strong October Customer Orders ...
Sterling Consolidated Announces Strong October Customer Orders
NEPTUNE, N.J., Oct. 29, 2014 (GLOBE NEWSWIRE) -- Sterling Consolidated Corp. (OTCBB:STCC), a leading supplier of hydraulic and pneumatic seals to the automotive and industrial marketplace, is announcing strong customer demand in the month of October to commence the 4(th) quarter.
Key Highlights:
-- Booked purchase orders through October 28, 2014 of $667,000. This is an
annualized pace of over $8,000,000/year.
-- The average purchase order for the month of October is $589/order -- a
significant increase from the average order in October 2013 which was
$488/order.
The order growth is primarily attributed to increased sales presence in North Carolina and Pennsylvania, and an increased demand from pool suppliers and automakers.
Darren DeRosa, Chief Executive Officer of Sterling Consolidated, commented, "We are experiencing the results of our expanded footprint into North Carolina and Pennsylvania from our acquisition activity. Also, the pool suppliers and automakers are buying earlier than last year. Our healthy October bodes well for a strong 4(th) quarter and solid finish to the fiscal year."
To be added to the Sterling Consolidated investor email list, please email schichester@sterlingconsolidated.com with "STCC" in the subject line.
About Sterling Consolidated Corp.
Sterling Consolidated Corp., through its wholly-owned subsidiary, Sterling Seal and Supply has been a leading supplier of hydraulic and pneumatic seals to the automotive and industrial marketplace for more than 40 years. Through a combination of leveraging its logistical expertise and sophisticated, experienced management, the company intends to be an active and strategic consolidator of small- and mid-sized businesses within the highly-fragmented, multi-billion dollar seal industry. Currently serving more than 3,000 customers, Sterling offers acquisition targets a unique growth opportunity and competitive advantage through logistical expertise, strong regional branding and industry-specific distribution centers.
Forward-looking Statements
This release contains statements that constitute forward-looking statements. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors.
CONTACT: Investor Contact:
Scott R. Chichester
646-388-2495
schichester@sterlingconsolidated.com
STCC.. $0.06
Sterling Consolidated Announces Strong October Customer Orders
Oct 29, 2014 08:00:00 (ET)
Sterling Consolidated Announces Strong October Customer Orders
NEPTUNE, N.J., Oct. 29, 2014 (GLOBE NEWSWIRE) -- Sterling Consolidated Corp. (OTCBB:STCC), a leading supplier of hydraulic and pneumatic seals to the automotive and industrial marketplace, is announcing strong customer demand in the month of October to commence the 4(th) quarter.
Key Highlights:
-- Booked purchase orders through October 28, 2014 of $667,000. This is an
annualized pace of over $8,000,000/year.
-- The average purchase order for the month of October is $589/order -- a
significant increase from the average order in October 2013 which was
$488/order.
The order growth is primarily attributed to increased sales presence in North Carolina and Pennsylvania, and an increased demand from pool suppliers and automakers.
Darren DeRosa, Chief Executive Officer of Sterling Consolidated, commented, "We are experiencing the results of our expanded footprint into North Carolina and Pennsylvania from our acquisition activity. Also, the pool suppliers and automakers are buying earlier than last year. Our healthy October bodes well for a strong 4(th) quarter and solid finish to the fiscal year."
To be added to the Sterling Consolidated investor email list, please email schichester@sterlingconsolidated.com with "STCC" in the subject line.
About Sterling Consolidated Corp.
Sterling Consolidated Corp., through its wholly-owned subsidiary, Sterling Seal and Supply has been a leading supplier of hydraulic and pneumatic seals to the automotive and industrial marketplace for more than 40 years. Through a combination of leveraging its logistical expertise and sophisticated, experienced management, the company intends to be an active and strategic consolidator of small- and mid-sized businesses within the highly-fragmented, multi-billion dollar seal industry. Currently serving more than 3,000 customers, Sterling offers acquisition targets a unique growth opportunity and competitive advantage through logistical expertise, strong regional branding and industry-specific distribution centers.
Forward-looking Statements
This release contains statements that constitute forward-looking statements. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors.
CONTACT: Investor Contact:
Scott R. Chichester
646-388-2495
schichester@sterlingconsolidated.com
STCC.. $0.06
Sterling Consolidated Announces Strong October Customer Orders
Oct 29, 2014 08:00:00 (ET)
Sterling Consolidated Announces Strong October Customer Orders
NEPTUNE, N.J., Oct. 29, 2014 (GLOBE NEWSWIRE) -- Sterling Consolidated Corp. (OTCBB:STCC), a leading supplier of hydraulic and pneumatic seals to the automotive and industrial marketplace, is announcing strong customer demand in the month of October to commence the 4(th) quarter.
Key Highlights:
-- Booked purchase orders through October 28, 2014 of $667,000. This is an
annualized pace of over $8,000,000/year.
-- The average purchase order for the month of October is $589/order -- a
significant increase from the average order in October 2013 which was
$488/order.
The order growth is primarily attributed to increased sales presence in North Carolina and Pennsylvania, and an increased demand from pool suppliers and automakers.
Darren DeRosa, Chief Executive Officer of Sterling Consolidated, commented, "We are experiencing the results of our expanded footprint into North Carolina and Pennsylvania from our acquisition activity. Also, the pool suppliers and automakers are buying earlier than last year. Our healthy October bodes well for a strong 4(th) quarter and solid finish to the fiscal year."
To be added to the Sterling Consolidated investor email list, please email schichester@sterlingconsolidated.com with "STCC" in the subject line.
About Sterling Consolidated Corp.
Sterling Consolidated Corp., through its wholly-owned subsidiary, Sterling Seal and Supply has been a leading supplier of hydraulic and pneumatic seals to the automotive and industrial marketplace for more than 40 years. Through a combination of leveraging its logistical expertise and sophisticated, experienced management, the company intends to be an active and strategic consolidator of small- and mid-sized businesses within the highly-fragmented, multi-billion dollar seal industry. Currently serving more than 3,000 customers, Sterling offers acquisition targets a unique growth opportunity and competitive advantage through logistical expertise, strong regional branding and industry-specific distribution centers.
Forward-looking Statements
This release contains statements that constitute forward-looking statements. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors.
CONTACT: Investor Contact:
Scott R. Chichester
646-388-2495
schichester@sterlingconsolidated.com
ACGX.. $0.0019.. I don't know who is buying this dillution monster,, but it's like flushing money down the toliet.. company has told all that it will try to hold dilution by asking the converters to slow down.. The problem is the lower it goes the more shares are needed to pay off the debt..(Now they need 6 Times as many shares to issue to pay off debt as they did when ACGX was trading at $0.01..) 100 million per qtr,, 400 million per year was the number when ACGX was much higher in share price.. BUT,, Since they control thru the preferred it means nothing to them..
News!!!!!$$ Acquisition 20M and profitable $$ NEWS!!
Wake us up @ $0.001 any morning on 1.6 billion fully diluted shares....
Sorry but bad info doesn't make any stock go up.. The converters are lined up to sell $0.002 and below.. Remember whatever they sell for they may buy back 20% lower and get more shares than they sold for the same money.... hank
MTVX.. All I see is a P&D with billions of shares fully diluted outstanding.. hank
News!!!!!$$ Acquisition 20M and profitable $$ NEWS!!
Wake us up @ $0.001 any morning on 1.6 billion fully diluted shares....
ELMD.. $1.54.. I THINK I FOUND A NEEDLE IN A HAY STACK.. BOUGHT A FEW..
ELMD.. $1.54
ACGX.. $0.0016.. Newbees from the preaching of others (THE LONGS, paid for press and the converters..) on this and other boards.. After all it's a nice little company but,, with a moving share count diluting shareholders to the tune of 100 Million per Qtr. as posted by the insiders of the company.. 1.^ billion fully diluted today,, how many more in the next year.. The prior 2 years increased fully diluted shares shares by 86 Times.. 400 million by just the stroke of a pen w/o any compensation what so ever to the company or existing shareholders.. $0.000's coming sooner rather than later.. Year End in all likely hood.. hank
$$$$ BUYOUT NEWS (.05) $$$$
If this was coming why would the converters keep selling.. Also since there are 1.6 BILLION shares outstanding fully diluted the 750 Million figure doesn't work any longer.. Companies are not valued on revenues but profits.. Although ACGX is a fine little company when you divide 1.6 BILLION shares into the profits there is little value..
And don't forget no company sells w/o audited numbers.. Too bad for the longs that bought on this misrepresented news.. There have been many companies that have gone bankrupt with far greater revenues than ACGX,, and I doubt if the bank's would/could of loaned them money against revenues.. hank
ACGX $0.02.. Even the "painters" have given up.. To buy the 10,000 as you indicated because it's only $23.00 is not worth the effort to anyone anymore.. .. Because that's just another $23.00 just going down the drain.. Converters are sure busy lately but as we were told 100 Mil per qtr. will convert and that's 8.8 million a week..
With this low volume it appears the converters are hogging all the bids and making the offers at a lower prices as ACGX is on it's way to lower prices almost weekly.. .. Remember they (the converters replace what they sell at a 20% or more) and when the new preferred is issued it is done at a 30% discount..
As I have pointed out before ACGX is a fine little company,, but it has an increasing amount of shares outstanding each time shares outstanding update.. Now the updates are increased at a rate 3X what the total shares outstanding were 2 years ago.. And that is each month..
Plus there are Preferred shares outstanding that convert to another 800 Million shares that every one seems to skip over.. Plus that number is subject to change as it has done by a stroke of the pen several times in the past 2 years.. hank
That poster showed shares outstanding and not fully diluted shares.. As to a company being able to factor 60% OF IT'S REC.. THAT IS DONE ON A CASE BY CASE BASIS and not a hard fast rule.. No company may factor w/o an audited finanical statement unless it goes to the back alley and pays very high %.. Them the facts.. hank