ATP Group 10-Q/Q1 Analysis
As of May 16, 2014, there were 4,584,705,385 shares of the issuer’s $.00001 par value common stock issued and outstanding.
Accounts receivable, net: $1,547,790
Property, plant and equipment, net: $7,473,986
Total Assets: $14,730,470
Debt, current portion: $2,036,500
Debt, long-term portion: $23,989,753
Total liabilities: $31,962,483
Revenues: $448,423
Gross profit: $182,502
Net loss: $1,170,858
Cash Flow
Debt,borrowings: $1,436,228
Cash and cash equivalents, end of period: $169,770
2014 Outlook
As we move deeper into 2014, the Company’s outlook is positive, and management feels confident that the Company is on track to deliver on several key objectives by the close of the year.
Intellectual Property / Technology
APT holds 26 patents, and trademarks within the US and overseas, focused on fuel systems and design patents for our products, including patents for our SmartCarb® fuel delivery system and our zero oil consumption, ultra low emission 2-stroke engine design (Sonic Flow Induction). We also hold various design and utility patents and trademarks on the MotoVox® line.
Revenues and Gross Profit
Revenues and Gross Profit have decreased during the three months ended March 31, 2014 compared to March 31, 2013, due to our inability to timely secure adequate production capital in the latter half of 2013. Accordingly, we were unable to accept all of the orders received.
Legal Proceedings
Legal issues in the course of routine business
-Northern Group Inc. vs. APT Powersport and Utility Products, LLC, filed June 26, 2013 in Brown County, Wisconsin. Suit for commissions payable. The Company disagrees with the amount claimed in the petition and the venue. The Company has retained counsel to represent the firm in the action.
-Olen Rice vs. APT Powersport and Utility Products, LLC and American Performance Technologies, LLC filed June 26, 2013 in Brown County, Wisconsin. Suit for commissions payable. The Company disagrees with the amount claimed in the petition and the venue. The Company has retained counsel to represent the firm in the action .
-John and Jennifer Kirse vs. American Performance Technologies, LLC, filed October 22, 2013 in Jackson County, Missouri. Suit on a promissory note. The parties are working together to resolve the claim. The Company has retained counsel to represent the firm in the action .
Other Legal issues
-APT Powersport and Utility Products, LLC, American Performance Technologies, LLC. vs. Olen Rice, Robert A. Rice, Sr., Jon Umsted, Northern Group, Inc., Marketing Operations Advisors, Inc., Scott Holmes, and Kart Mart, filed November 18, 2013 in Jackson County, Missouri. The Company alleges that certain parties have infringed upon and have utilized trade secrets, confidential information and intellectual property of the company. Legal proceedings are ongoing .
Everything above is what I feel matters out of the 10-Q. Everything has come directly from it.
There are also about a page of convertible notes that have already been executed.
There are also some newly issued convertible notes as well.
