Wednesday, June 23, 2010 3:33:00 PM
I was told that they have their financials ready and will soon file them as part of their new listing on Pink OTC. (I'm wondering which category they will be listed under.) My guess is they are still waiting for a market maker to file a 211 before they post anything.
Unofficially, they are producing about $6 million in annual revenues. I don't know the profit margin but their revenue is residual based on monthly fees from around 5,000 active units. I'm guessing these are mostly in oil fields. By my calculations that's about $100 per month per unit (give or take).
I also confirmed that there are still only around 50 million shares outstanding. That's around 12 cents per share in gross revenue. But when you throw in the assets (which includes all of these units and more, plus all of the supporting technology), that should value the company even higher.
I don't know how much debt they still have but I do know who holds the bulk of it. There is no NIR lurking behind the scenes.
Of course this is all guess work on my part based on what I know and could confirm. We will all know more when we see the actual financials.
Rotary Guy
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