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If you have not yet sold, I would appreciate hearing your thoughts on the latest 10Q.
I think the next quarter will be very profitable , however i do not understand why Kruger does not issue a press release after the quarter any more. TIA
I agree this a good thing, not a bad thing.. JMO
I am kind of kicking my self for not selling at least some at .70 , however if SCDA was over valued then it is very under valued at $.135
If they go pink it's for good reason. I think/hope large orders must be just around the corner.
I may buy more at this price, I'm not selling. JMO
I think back to the past share price runs , but i think this is much stronger as we have yet to have the big news , big box retailer or buy out? I can't help but wonder if this is coming soon.
Also all the news about bad water all over the country is very good for SYEV.
Time will tell.. JMO
Sounds like they might go pink?
B-Scada Reports Solid Quarter, Despite Petrochemical Headwinds
Mar 15, 2016
OTC Disclosure & News Service
Crystal River, FL -
CRYSTAL RIVER, FL--(Mar 9, 2016) - B-Scada, Inc. (OTCQB: MOBS) reports solid first quarter (“Current Quarter”) results for fiscal 2015-2016. Our subsidiary in Spain was profitable for this quarter. We now have recurring revenue in a true SaaS (Software as a Service) model with our cloud based monitoring solutions. Our wireless sensor product line has passed initial testing. Drags on the business continue to be the disappearance of revenue from the petrochemical sector, and the skyrocketing costs of being a publicly reporting company.
Revenue for the current quarter is $404,182 down from the same period in the previous year of $496,144. Our Net Income (loss) for the quarter was ($35,730) an improvement from ($148,548) the year before.
Spain was profitable for the current quarter, business is brisk and we expect that Spain will continue to do well.
Software revenue and related consulting for the current quarter was $93,177 an increase over the previous year’s total of $90,731, petrochemical continues to be a drag.
Technology licensing has declined due to losses in the petrochemical sector, revenue is down to $311,005 from $405,413 in the same period last year. Some of our technology licensing agreements are due to start expiring over the next couple of years and will produce some headwinds for revenue growth.
Our cloud based services are now generating recurring revenue in a SaaS model. Deployments include cloud based monitoring of data centers, boilers and generators. The system is also being used for building automation for monitoring temperature and water detection. Another project that may come on line soon will be monitoring steam traps and man holes.
Our line of wireless sensors was to move into manufacturing, with a target completion date of March 31. Testing of the units and feedback from our system integrators indicated that the current range of the units (100-400ft) may not be adequate for many applications. The communications of the units are now being reworked to more powerful chips which will increase the range. These more powerful chips will result in the units requiring FCC testing and certification. The shipping dates of the sensors is expected to slip by 8-10 weeks. Our plans now are for a formal launch to be done at the national Sensors Expo and Conference June 21-23, 2016 at the McEnery Convention Center, San Jose, CA. We do not yet know how much of a boost our new line of sensors and related monitoring services will add to our annual revenue.
Due to the low price of oil, revenue from the petrochemical sector has completely disappeared. This revenue accounted for more than 50% of our revenue in fiscal 2013-2014. The disappearance of this revenue resulted in the company making some substantial reductions in expenditures to bring our expenses in line with our new revenue reality. Staff cuts have been done and marketing budgets reduced. Our efforts have been extensive, expenditures for the current quarter were just $453,794 a considerable drop from $710,174 for the same period the previous year. Despite our efforts our burn rate still exceeds our current revenue. The only place left for significantly reducing expenditures is in our costs of being a public reporting company. SEC reporting related expenses are almost 10% of our current revenue and over the past several years have cost the company approximately $1,000,000, money that could have been used for growth. In addition, we believe the transparency of being a public company may be discouraging some companies with larger projects from doing business with us, adversely affecting revenue and opportunity.
It is an exciting time for the company. We are moving from strictly a SCADA software company (Supervisory Control and Data Acquisition) to a broader business with cloud based services, integrated hardware and a global presence. As the IoT (Internet of Things), IIoT (Industrial Internet of Things), and Smart City efforts gain momentum, B-Scada will be very well positioned for growth and opportunity. We would like to thank Yorkmont Capital Partners, LP and our current investors for their support.
About B-Scada
B-Scada provides software and hardware solutions for the monitoring and analysis of real time data in the SCADA (Supervisory Control and Data Acquisition), IoT (Internet of Things) and Smart City domains. B-Scada systems are sold worldwide in various verticals including building automation, transportation, smart grid, manufacturing, agriculture and commerce. B-Scada solutions are deployed onsite and as cloud-hosted solutions in a SaaS (Software as a Service) model.
Contact for B-Scada:
Ron DeSerranno, CEO
rdeserranno@b-scada.com
RUN FORREST RUN... YA HOO
GLGI 0.30 Thank you for your post.
I was guessing that because Warren is no longer buying stock that maybe this quarter would not be so good. Also if the Miller Coors buisness continues to go down.
Money seems to be flowing back into small caps again , i hope it continues.
They need some new signed contracts hopefully soon. It's a great company in the right sector.
I think it will continue it's upward trend, if we get some big news then it will pop over $1 maybe much higher. Remember on the last runs , they put out many more PR's ,that may still be coming.
My best hope is Wal-mart or Target, or a buy out.
GLGI 0.275 on good volume. It's always good to see someone new post,
I looked for news on todays 22% move , but as always there was none. I am hoping someone knows something that i don't. According to the 10Q glgi will have over 18 million in debt (is that correct?)
so i am guessing they are buying 4 new molds for the new customer?
My question is how many molds do they have for Miller Coors? Do you know?
This way i could judge the size of the order of the new customer.
I have some dry power , but i was thinking that the next quarter will show a bigger loss and then the shares will go to .15? then i would buy more. Will the MC business pick up? It seems to have stopped going down. What are your thoughts? TIA
Argyle Security and SteelCell Announce Strategic Relationship
(01/18/2016)
Argyle Security and SteelCell entered into a strategic manufacturing and sales relationship, extending SteelCell’s product offerings to the western U.S.
SAN ANTONIO, Texas — Argyle Security Group (“Argyle”), a service and solutions provider of detention and security electronics, hardware, materials, furnishings and products, and SteelCell of North America Inc. (“SteelCell”), a manufacturer of prefabricated modular, steel units for use in the detention facilities and other security-inclined commercial construction, have entered into a strategic manufacturing and sales relationship extending SteelCell’s product offerings to the western United States.
Argyle, based in San Antonio, will have an exclusive license to manufacture and sell SteelCell products in California, Hawaii, Oregon, Washington, Utah, Nevada, Arizona, New Mexico, Wyoming, Colorado and Montana. Argyle will manufacture the SteelCell product at its Argyle Precision fabrication location in California. SteelCell will work closely with Argyle and support the sale, engineering and manufacturing of the products to enable the high quality SteelCell products to be sold for installation across the western United States.
Buddy Johns, president and CEO of Argyle said, “This opportunity to provide SteelCell’s prefabricated product solutions to the western market is exciting. Argyle’s ability to offer SteelCell solutions to our customers will provide a significant added value by reducing construction schedule and costs while also providing a more durable and maintenance-free facility design.”
Mike Smith, president of Baldwin, Ga.-based SteelCell added, “SteelCell is very happy to have this opportunity to work with Argyle and take advantage of its unique manufacturing footprint in the western portion of the United States. We have always wanted to serve a larger market and expand the geographic reach of our products and this strategic licensing arrangement will enable us to do so.
If I remember right the last time yorkmont bought it was at $.35 so they are underwater on those shares, they must think it's a good buy at .20.
If it wasn't for oil crashing SCDA would be in a much better position, I think the IOT market will have room for a number of companies , I just hope it takes off soon. Time will tell
Big Box retailers... This is something else i have been hoping for.
Dick Parsons, Chief Executive Officer, announced that “We continue to receive growing interest from around the world in the water filtration and purification products we manufacture. In recent months, we have had inquiries from Turkey, Chile, Peru, Thailand, South Korea, Singapore and Malaysia for distributorships or exclusive distribution opportunities. We have concluded a distribution agreement with a company in Turkey, and anticipate that others will be added in the next couple of months.”
Mr. Parsons added that “We are coming closer to the announcement and release of two new products that will open up new distribution channels for the company. Both products will have broad domestic and
international consumer appeal, and we expect that they will be available for sale in the second quarter. Finally, we are talking to a potential distribution partner in the US who can take us into big box stores and mass-merchandisers. It could be our own brand or private label. We should know more in the next month as the negotiations continue.”
Japan or China... From about a year ago...
Carl Palmer, President, Founder and Chairman, stated that “We are pleased to announce that we have received approval from the Ministry of Health in Japan for the sale of our 20 oz, 25 oz and 28 oz advanced portable water filtration bottles that remove chlorine, organics, in-organics, pathogens and radiological contaminants from drinking water – while enhancing pH (alkalinity) to 9.0. Also, we have under government review our drinking water pitcher which will offer the same filtering capabilities – and anticipate approval within the next 30 days.”
Mr. Palmer went on to say that “Japanese consumers have a continuing concern about radioactive elements in their drinking water and food products, primarily Cesium 137, and now, Seychelle under the Fill 2 Pure brand name, is in a prime position to capitalize on this interest and health concern as independent testing has confirmed that we remove up to 99.99% of Cesium 137 and other radioactive contaminants. We anticipate it will be another 45 days to get everything ready for market launch, and we plan, through our Joint Venture partner, to contact retail, catalog, TV, government, military and medical channels of distribution as part of our product introduction, supported with a Public Relations program. We expect that sales will begin in our second fiscal quarter.” Mr. Palmer further said that “We anticipate a very positive reaction in Japan to our product offerings, and expect that it will meaningfully increase our overall revenues and earnings in fiscal 2015.”
In China, there is more important news. Two more distributors are taking on the Fill 2 Pure brand and will be placing orders shortly. It has also been decided to start manufacturing and assembling several of our products in China to reduce costs of handling, freight, import and Customs fees. This will improve our gross profit margins, save shipping time, and enable us to expand the market more efficiently with lower retail pricing
I agree this can go way over $1 I hope we get news on shipment to Japan then we could see $2 to $3.. JMO
Yea it's good news. I think it must be a large contract if they will order yet another mold.
I am guessing with the closeing of the plant in NC that all those pallets need to filter back into M/C system. i am hoping M/C orders will increase , if not this could be a rough quarter.
Do you know the date of the next earning release? TIA
Not as bad as i thought it might be.
Thank you.
I agree lots of room on the upside.
LTNC you should put this on your watch list. It's a pos but maybe good for a trade
BRUSSELS/LONDON (Reuters) - Anheuser-Busch InBev (ABI.BR), the world's biggest brewer, launched its $100 billion-plus offer for nearest rival SABMiller (SAB.L) on Wednesday and agreed to sell the latter's stake in U.S. venture MillerCoors to help win regulatory approval.
AB InBev, whose takeover of SABMiller would be one of the largest mergers in corporate history, said it expected to achieve $1.4 billion in annual savings four years after completion of the deal, projected for the second half of 2016.
The deal currently worth about 70 billion pounds, or $106 billion, was clinched with an agreement for Denver-based Molson Coors (TAP.N) to take over SABMiller's 58 percent stake in their venture, MillerCoors, for $12 billion.
That price tag is higher than some analysts expected, given the small group of potential buyers. However, they had not anticipated it including global rights to the Miller brand, which will nearly double the amount of beer Molson sells internationally.
At the same time, the savings target, worth about 9 percent of SABMiller's sales, is lower than expectations, although it does come on top of the $1.05 billion that SABMiller had already pledged during the bidding process.
The merger will combine AB InBev's Budweiser, Stella Artois and Corona brands with SABMiller's Peroni, Grolsch and Pilsner Urquell and brew almost a third of the world's beer, dwarfing rivals Heineken (HEIN.AS) and Carlsberg (CARLb.CO).
The takeover, which SABMiller's board provisionally accepted last month, would be the largest of a British-based company and the fourth-biggest overall of any corporation. It will be backed by a record $75 billion loan.
GLOBAL SHUFFLE
AB InBev is already leader in the United States, Brazil and Mexico, three of the top four markets in terms of profits.
With SABMiller, it is buying into Latin American countries such as Colombia and Peru and crucially, Africa, at a time when markets such as the United States are weakening as drinkers shun mainstream lagers in favor of craft brews and cocktails.
Africa, where SAB operates in 16 countries, is expected to see a sharp rise in people of legal drinking age and has a fast-growing middle-class developing a taste for branded lagers and ales. Beer consumption there will grow by more than anywhere else over the next five years, say industry experts Plato Logic.
The acquisition allows AB InBev to draw level with Unilever (ULVR.L) as the fourth-biggest consumer goods company with annual revenue of $64 billion. However it will overtake Nestle (NESN.VX) as the sector's biggest profit generator.
AB InBev said it would seek a secondary listing and regional headquarters in Johannesburg, where SABMiller was founded 120 years ago.
The transaction is also a "game changer" for Molson Coors, its CEO Mark Hunter said, as it gives the maker of Coors Light and Blue Moon nearly 28 percent of the U.S. market, making it the second largest player.
It would add nearly $5 billion a year in sales and nearly $1 billion in operating income.
HURDLES TO CLEAR
AB InBev is offering 44 pounds per SABMiller share, along with a discounted alternative of mostly shares, designed for SABMiller's two largest shareholders: cigarette-maker Altria (MO.N) and BevCo, the vehicle of Colombia's Santo Domingo family, who together own 40.5 percent of the target company.
Those shareholders have accepted the alternative offer, the two brewers said in a joint statement. Altria said it expected to book a post-tax gain of $8 billion when the deal closed.
SABMiller shares were up 2.0 percent at 40.54 pounds at 1515 GMT (10:15 a.m. ET) on Wednesday, with gains limited by a degree of uncertainty around regulatory hurdles before the transaction is concluded. The shares have gained almost 40 percent since speculation about an AB InBev approach emerged two months ago.
However, AB InBev's confidence that the deal will go through is high, reflected by a potential $3 billion fee if it fails.
"With today's developments, execution is still important but they have a bit of breathing room," said Morningstar analyst Philip Gorham.
AB InBev shares were up 1.6 percent. Analysts said the cost-conscious company would probably exceed its $1.4 billion savings target, having done so after previous acquisitions in the United States and Mexico.
"This is the estimate going in," said Bernstein Research analyst Trevor Stirling. "This is guaranteed and there may well be potential for more."
The company said the biggest proportion of savings will come from combining headquarters and removing overlapping administration costs, but will also come from scale-based efficiencies in brewing, distribution and procurement.
While the MillerCoors stake sale is aimed at satisfying U.S. regulators, it remains to be seen whether the new company will have to divest SABMiller's 49 percent stake in CR Snow, the largest brewer in China, where AB InBev already has about 14 percent of the market.
AB InBev Chief Executive Carlos Brito declined to comment on China or its future as a bottler of PepsiCo (PEP.N) drinks, given that SABMiller bottles Coca-Cola (KO.N) drinks.
Also unclear is the future of SABMiller's relationship with French wine maker Castel Group and stake in Turkish brewer Anadolu Efes (AEFES.IS).
AB InBev's lead advisers are investment bank Lazard and law firm Freshfields Bruckhaus Deringer. SAB's advisers include Robey Warshaw, JP Morgan and Morgan Stanley and law firm Linklaters.
(Editing by Keith Weir and Susan Fenton)
The transaction is also a "game changer" for Molson Coors, its CEO Mark Hunter said, as it gives the maker of Coors Light and Blue Moon nearly 28 percent of the U.S. market, making it the second largest player.
It would add nearly $5 billion a year in sales and nearly $1 billion in operating income.
To pave the way for the deal, Molson Coors Brewing Co. will acquire SABMiller's interest in Miller Coors in a deal valued at $12 billion. That deal is conditional on the closing of the A-B InBev's acquisition of SABMIller, which is expected to be complete in the second half of 2016.
Under the terms of the deal, Molson Coors will acquire SABMiller’s 50 percent voting interest and 58 percent economic interest in MillerCoors. Upon completion of the transaction, MillerCoors will become a wholly owned subsidiary of Molson Coors.
lol,
I'm just hoping to get back to even.
I have not sold any shares, How about you?
40,000 unit purchase order. New mold in full production with in 2 months..
“For the past several months, Greystone has been preparing for expected growth in our heavy duty pallet sales”, stated Warren Kruger, CEO. Kruger continued, “The costs associated with this effort has had an impact on our reported earnings. As discussed previously, our new generation lighter-weight 100% recycled plastic 48x40 pallet that hits weight requirements with OSHA has been given high marks at many testing facilities in the U.S. and based on that testing, we have just received an initial 40,000-unit purchase order. A new enhanced mold that is expected to be in full production within two months is on order. To meet expected demand, Greystone has ordered an additional injection molding machine which should be operational in about March 2016. This new machine will be manufacturing the new generation 48X40 pallet. Greystone’s plastic tolling services to TriEnda Holdings, LLC are expected to be in full production within the next month which will provide additional revenue. We are continuing to broaden our base of products and customers to enhance our growth in the future.”
I went on amazon dot com and pulled up Seychelle water pitcher
and there is 160 reviews most of them good. One year ago it had two reviews. I think this turn around is for real. When some one buys their product a few times a year they need to buy a replacement filter. Long and Strong SYEV
I would think Japan would need a lot of the RAD filters.
From 2014..
Shipments to Japan expected to start in June/July of radiological and alkaline (pH enhanced)
filter bottles with other new products to follow – Stateside we have shipped Private Label bottles
into 738 Rite Aid stores
From Wikipedia.. WOW
SCADA technology in the Internet of Things (the IoT)[edit]
A major stumbling block for full use of the Internet of Things (IoT) has been expressed by Jean-Louis Gassée (Apple initial alumni team, and BeOS co-founder). He asserts that the IoT has what he calls the "Basket of Remotes" problem, where hundreds of applications attempt to interface with hundreds of devices that don't share protocols for speaking with one another.[3]
While Gassée’s final vision includes self-configuration, a powerful intermediary step would be to have one application that can talk to many devices. At a high level, this “application that can talk to many devices” is a fair description of SCADA.
The primary difference between SCADA and IoT stems from the difference between M2M (Machine to Machine) and IoT. In an interview with Iot-Inc., Ron DeSerranno (CEO and Founder of B-Scada) says “We took our platform that was traditionally in very heavy Industry and we moved that out to the web… about 4 or 5 years ago so when we did the next evolution of our system, we made some changes to intentionally make it Internet-friendly, to have it HTML5-enabled and be able to host it off the private networks and out in the web.” He also says “In the IoT space, it could be sensors - but the data that you’re bringing in could also be weather data, it could be financial, you might be pulling information from a database. It’s a whole mash up of different types of information, not just hardware or exclusively hardware…Because we create an information model of the things that are being monitored, sort of like a contact in your telephone, that’s a little information model, virtualization of people you care about. So in our system you’ll go up and you’ll define what a sensor is to you, what properties are important on it, and you’ll essentially virtualize that asset up in our system.” [4]
In a recent report from Global Industry Analysts, Inc. that lists a handful of Key players in the Global Human Machine Interface (HMI) Solutions Market,[5] B-Scada is conspicuous as the only player that is applying their HMI/SCADA technology to the IoT, as evidenced by B-Scada’s membership in the Intel IoT Solutions Alliance.[6]
I agree,
on the last run to .70 I sold shares to get my money out. I'm not selling my free shares anytime soon.
MillerCoors will close brewery in North Carolina
Eden, N.C., brewery is one of MillerCoor's eight facilities ......
ST LOUIS POST-DISPATCH 2015-09-15
Rockingham County brewery that employs 500 closing
A brewery that employs 500 people in the Rockingham County city of Eden is closing its doors. County and city officials confirm to local media outlets on Monday that the MillerCoors brewery will close within a year. County officials say the closing will cost the county, in addition to the lost jobs, about $1.2 million in annual revenue....
THE CHARLOTTE OBSERVER 2015-09-14
MillerCoors to close first Genuine Draft brewery
MillerCoors announced Monday that it would close a longtime facility in Eden, N.C., the first to brew Miller Genuine Draft, because of a prolonged sales decline and the plant's relative proximity to another MillerCoors location in Virginia. .....
SYEV $0.52 Congrats on your perfect timing for buying this stock.
In the past they would pump the stock more with PR's , i think this may still be coming.
For a long time they have wanted to be in big box retailers.. Just wondering if that is in the near future. JMO
Fantastic is right, this will go way over $1 don't sell HOLD in my opinion!!!
From the last PR..
The Company expects the gross margin percentages to remain at approximately 50% in the foreseeable future.
Net income (20% of Sales) was up 853% for the three-month period ended May 31, 2015. This was primarily due to an increase of approximately $1.2 million in sales. We remain focused on the primary factors affecting our bottom line and look to continue to improve the Company’s profitability in fiscal 2016.
AB InBev is asking banks to underwrite up to $70 billion in debt financing to back its potential merger with SABMiller, banking sources said.
The initial financing is expected to comprise bridge loans, which will be refinanced by bond issues, and longer term loans, the sources said.
AB InBev and SABMiller were not immediately available for comment.
Banks working on the deal include AB InBev’s core relationship banks: Banco Santander, Bank of America Merrill Lynch, Bank of Tokyo-Mitsubishi UFJ, BNP Paribas, Deutsche Bank, ING, JP Morgan, Mizuho Bank, Royal Bank of Scotland, Societe Generale and SMBC, banking sources said.
Banks remain highly liquid despite recent global market volatility and are eager to lend in size to core corporate clients such as AB InBev.
“It’s a lot to swallow, but it will get done,” a head of loan syndicate said.
MORE M&A
Potential asset sales could also generate more M&A for banks to work on after disappointing levels of M&A financing so far this year.
Although banks are eager to lend, they may have to hold bridge loan exposure for longer as companies wait to issue bonds at better prices after bond prices widened dramatically in September.
“Banks are more conservative about taking bridge loan exposure. Companies will have to pay up and banks will have to wait for it to be refinanced,” a second syndicate head said.
When the mega merger was first discussed last year, bankers speculated that AB InBev could seek to raise a bridge loan of $75 billion to $80 billion before issuing $72 billion to $110 billion of bonds to fund an acquisition.
AB InBev trying to reduce its net debt to EBITDA ratio to two times, down from about 2.5 times currently and is on track to do that by 2016, which would give it more room to finance a takeover.
If it goes ahead, the SABMiller acquisition is expected to completed in 2016 at the earliest.
I think this applies to SCDA sector.
The tech world needs to brace for a shake-up.
Actually, all sectors need to, because all corners of the tech world are coming together to transform every industry as we know them, according to Salesforce.com (NYSE: CRM) CEO Marc Benioff.
All types of companies are leveraging the cloud to make fast, more efficient software changes; social networking such as the kind that ridesharing company Uber uses to connect riders with drivers; predictive analytics that determine what consumers will want; and the Internet of things, connecting devices to a central, Internet-based location, controllable remotely over the Internet, Benioff explained.
At Uber, for instance, it's not just that the riders are customers, its workers are customers, too, so it's important for them to make sure drivers are happy and not leaving for competitors like Lyft, another ride-sharing company, Benioff said.
"Whether it's in transportation, health care, financial services, consumer product goods, every industry is getting disrupted. Every industry is going to be completely transformed," Benioff told CNBC in an interview. "I think that every company has to take notice that if you're not connected with your customer in a whole new way, you're in trouble," added the CEO of Salesforce, which runs a cloud-based customer resource management system and organized the Dreamforce conference , where tech professionals gathered in San Francisco this month.
The "Internet of things" could seep its way into the financial services industry, for example, potentially connecting checking and credit card accounts to common household devices, suggested Val Srinivas, the Banking & Securities research leader at the Deloitte Center for Financial Services in a report last year.
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And the Internet of things has the potential to be embedded even further into consumers' lives.
"Imagine a personal health monitor that is also connected to your investment account. At the sign of any serious health hazard (say a heart attack), the investment account could automatically rebalance to limit your downside exposure, or transfer your holdings to more liquid securities, in anticipation of future cash needs. This may sound a bit far-fetched now, but is not completely out of the realm of possibilities," Srinivas wrote.
"I will tell you that we are moving into a very unusual time. we are moving into an unstable time because when you have this much disruption, especially with robotics and artificial intelligence, we all need to be thinking about what the ramifications are of that...," said Benioff.
But the executive said he hopes that the world won't end up in a scenario portrayed in the movie Terminator, in which machines become self-aware, make their own decisions and take over the world.
"I hope that we'll be smart enough to know we have a more awareness, and between our government leaders and our business leaders and our societal leaders that we're going to have a great future," Benioff said.
Copious amounts.. That means a lot right. Lol
"The entire operating entity at Greystone is tremendously encouraged by the advances made this past corporate year," stated Warren Kruger, CEO. Kruger continued, "Our 1/2 barrel keg pallet for the beer industry has proven a success and the newly developed 1/2 and 1/4 barrel pallet is testing well and should generate revenue this corporate year. We have recently completed production of a warehouse pallet for Sutter Home Family Vineyards for their automated operation. Our new generation lighter-weight 100% recycled plastic 48x40 pallet that hits weight requirements with OSHA has been given high marks at many testing facilities in the U.S. and one significant customer has begun buying copious amounts for tests within their organization. Nestable pallet sales continue to expand and we have two new molds being fabricated at our mold maker for product lines we are adding. We have begun toll processing resin for a customer on a long term basis which will throw off a burgeoning revenue stream. One of our major clients took less product this corporate year than projected which put a damper on top line sales and our bottom line. We are continuing to broaden our base of products and customers to eliminate this type of surprise in the future. Corporately, we paid down $1.8 million in debt and have invested in plant, equipment, and our operational efficiencies to prepare ourselves for future continued success."