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Replies to post #11092 on Speedemissions Inc. (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.
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.
ATLANTA, Aug. 14, 2019 (GLOBE NEWSWIRE) -- Speedemissions, Inc. (OTCPK: SPMI, the “Company”), a retail brand offering consumers automobile emissions testing and safety inspections, as well as the owner/operator of Auto Recycling of Montgomery today announced its unaudited financial results for the period ended June 30, 2019.
Second Quarter Ended June, 30, 2019 Unaudited Financial Highlights
For the period ended June 30, 2019 total revenue was $1,707,496 vs $1,710,448 for the same period in 2018. This static revenue was the result of a store lease expiring and not being renewed as the property was sold. Same store emissions testing revenue increased 1.9% or $32,000 while auto recycling revenue increased by $2,000.
Total operating expenses were reduced 9.3% or $81,328. Consolidated station operating expenses decreased 7.8% or $76,572 with General and Administrative expenses declining 1.5% or $4,756.
The Company’s net profit for the period-end June 30, 2019 was $108,689, as compared to a net profit of $45,387 for the period- ended June 30, 2018.
This net profit was attributed to $24,583, in other income from de-recognition of aged payables. This non-recurring gain was partially offset by a $21,904 operating loss from auto recycling, yielding a net profit from continuing emission testing operations of $108,689, for the period ended June 30, 2019, as compared to 45,387 for the same period last year.
ABOUT SPEEDEMISSIONS, INC.
Speedemissions, Inc., based in Atlanta, Georgia, is a national brand offering our customers quick and efficient emissions testing and safety inspections as required by law. The Company is in the, Atlanta, GA. and St. Louis, MO. markets. The Company hopes to expand its business model by its recent announcement of acquiring an auto salvage yard. For more information visit: www.speedemissions.com.
ABOUT AUTO RECYCLING OF MONTGOMERY
Speedy Operations, Inc. (a wholly owned subsidiary of Speedemissions) is an Auto Recycling of Montgomery. Auto Recycling of Montgomery, a full service auto salvage yard, that became operational in November 2017, after being closed for over three years. The company dismantles cars purchased through the insurance auctions and sells the OEM parts to auto repair garages, auto body shops, the general public and is developing an internet based sales platform. In addition to being an Automotive Dismantler and Parts Recycler, the company is a Motor Vehicle Rebuilder, Used Motor Vehicle Dealer and Motor Vehicle Wholesaler.
