In the post I said this about a stock I was comparing to SPMI:
I bought into a stock earlier this year at .0004. One of the guys on the board had something like 30 million shares with a cost basis of .003. He was underwater on the shares for years. Suddenly the stock took off and went to nearly .02 cents. That guy recovered all his losses and banked 6 figures. I did very well on my shares selling the last of them right near the top. I just checked the ticker - the stock closed today at .006.
I did not give the ticker - but for the sake of clearing up the confusion I will now. The stock I was referring to was DUTV.
and reported what I saw... that being among other things, that they have practically no cash, a huge stockholder deficit, a loss of nearly a quarter of a million on the quarter, YET MAINTAIN A MARKET CAP OF ~ $20,718,440
You can add to that, they have an obscene amount of shares OS (like nearly 3.5 billion)
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Hopefully, I've cleared up the confusion -- those stats in bold were for DUTV as I was making a comparison with SPMI
SPMI revenues ARE NOT ZERO. They have revenues of over $3 million per year. You can read their last press release covering their 3rd quarter HERE
I believe they currently have 21 emissions stations and 1 auto recycling site.
Speedemissions, Inc. Announces Third Quarter 2018 Financial Results
Company’s Financial Operating Metrics Continue to Improve ATLANTA, Nov. 05, 2018 (GLOBE NEWSWIRE) -- Speedemissions, Inc. (OTCPK: SPMI, the “Company”), a brand offering consumers quick, efficient emissions testing and safety inspections, and now used/salvaged OEM auto parts through its Auto Recycling of Montgomery subsidiary, today announced its financial results for its fiscal quarter ended September 30, 2018.
“The continued effort of improving our operating performance and reducing costs has yielded solid results. This marks ten consecutive quarters that we’re able to report positive EBITDA1. What makes these last two quarters significant is that same-store growth has occurred while having lost a store lease in April 2018 due to the property being sold to a major restaurant chain,” stated Rich Parlontieri, CEO of Speedemissions.
“In 2018, it was announced that we had identified the automobile salvage yard as a strategic opportunity for diversified expansion and supplemental revenue channels in several different markets. Restarting a salvage yard that had been shuttered for over three years became quite a challenge and one that provided many valuable lessons. To that end, we became fully-operational during the first quarter of 2018. With our core business on a steady track and our new salvage yard business opportunity, we’ll continue to focus on achieving sustainable profitability and creating equity value for our shareholders,” added Parlontieri.
Select Financial Data for Quarter End September 30, 2018
Total revenue increased 3.69%, to $860,259 for the quarter ended September 30, 2018, as compared to revenue of $829,668 for the quarter ended September 30, 2017. Third quarter revenue was positively impacted by an increase in emission tests and the steady growth of the recycling operation. The Company reported a 251% increase in its adjusted EBITDA1 to $72,889 for the quarter ended September 30, 2018, as compared to adjusted EBITDA of $20,745 for the quarter ended September 30, 2017.
* Net Income of $40,882 for quarter ended September 30, 2018 compared to a net loss of ($20,317) for the same period in 2017.
* Total business operating expenses decreased by approximately 4.5% from $661,697 for the quarter ended September 30, 2017 to $632,230 for the quarter ended September 30, 2018.
* General and Administrative expenses decreased $9,565 for the quarter ended September 30, 2018, compared to the same period in 2017.
* Consolidated revenue for the nine months ended September 30th, increased 2.6% or $64,365 to $2,570,707.
* During the past nine months, total liabilities have been reduced by $131,862, and total current liabilities decreased $115,538.
The math shows the current market cap being ~ ~250k (under 200k at bid)
Looks like a gem next to DUTV's market cap of over $20 million on ZERO REVENUES AND 20 MILLION + MARKET CAP
AI
