energymanNJ
17 years ago
Waiting for conference call to begin.........yea!!!
American Mold Guard Reports Fourth Quarter 2006 Results
SAN JUAN CAPISTRANO, Calif., Jan. 31, 2007 (PRIME NEWSWIRE) (PRIMEZONE) -- American Mold Guard, Inc. (Nasdaq:AMGI), an industry leader in the field of anti-microbial surface treatment services, today announced financial results for its fourth quarter and full year ended December 31, 2006.
Fourth Quarter and Full Year Results
The Company reported fourth quarter 2006 net sales of $1.83 million, an increase of 8 percent from $1.69 million for the fourth quarter of 2005. For the twelve months ended December 31, 2006 the Company reported net sales of $9.43 million, an increase of 62 percent from the same period in 2005. Net sales increased primarily due to higher demand for the Company's services, expansion into new regions and price increases enacted in the beginning of the year. Gross margin for the fourth quarter of 2006 was $819,756, or 44.8 percent, as compared to $212,254 or a 12.6 percent gross margin for the fourth quarter of 2005. For the full year 2006, gross margin was 43.1 percent as compared to 18.4 percent for 2005. The gross margin increase was realized through improved crew productivity, less material usage, reduced material cost, reduced equipment rental costs as well as price increases the Company implemented in the beginning of the year.
The Company reported a net loss for the fourth quarter of 2006 of $1.52 million, or $.33 per share, compared to a net loss of $2.66 million, or $2.82 per share, for the fourth quarter of 2005. For the full year 2006, the net loss was $7.57 million, or $2.43 per share, compared to a net loss of $5.93 million, or $6.53 per share for 2005. The fourth quarter 2006 net loss decrease from the prior year was primarily due to improved gross margins and the elimination of interest expense through debt reduction after the Company's initial public offering in May of 2006. The per share net loss information reflects the effect of the one-for-.340124209 reverse stock split, effective April 7, 2006.
"Despite the housing market contraction during 2006, the Company recorded strong year-to-date sales growth of 62% as compared to the same period a year ago. Our productivity improvements continued to demonstrate results as gross margin expanded to record levels" said Tom Blakeley, Chief Executive Officer. "The Company used this period to increase its sales presence in high growth construction markets while also expanding its sales focus on multi-family projects. We also announced that we have secured our first AMG Scientific interior surface treatment orders in surgery, physical therapy and med-spa centers in California, New Jersey and Maryland. The combination of our sales force expansion in the Carolinas and in national multi-family construction, as well as our entrance into interior surface treatment in the fight against infectious disease transmission, position the Company for continued growth in 2007," concluded Mr. Blakeley.
Conference Call and Webcast
American Mold Guard will discuss its fourth quarter 2006 results, on a conference call today beginning at 1:30 p.m. Pacific Daylight Time. You can listen to the call by Domestic Dial at 800-798-2884 or by International Dial at 617-614-6207 using the participant passcode 5705229.
You can also access via a live webcast at http://phx.corporate-ir.net/playerlink.zhtml?c=196351&s=wm&e=1464785. Prior to the call, the Company intends to post on its website a copy of the Company's current report on Form 8-K dated January 31, 2007 including its operating results for the quarter ended December 31, 2006. The Company's web site can be accessed at www.americanmoldguard.com under "Investor Relations / Press Releases".
About American Mold Guard and AMG Scientific, LLC
American Mold Guard, Inc. (Nasdaq:AMGI), founded in 2002, is the industry leader in the field of anti-microbial surface treatment services. Its services are primarily focused on the residential real estate construction industry in California, Texas, Louisiana, Mississippi and Florida; with active expansion throughout the United States. Its customers include many of the largest national and regional home builders. Visit: www.americanmoldguard.com. Established in October 2006, AMG Scientific LLC is a wholly owned subsidiary of American Mold Guard, Inc., that is focused on assisting hospitals, large organizations, institutions, military and government facility managers in combating the problem of infectious diseases on interior surfaces. Visit: www.amgscientific.com.
The American Mold Guard Inc. logo is available at http://www.primezone.com/newsroom/prs/?pkgid=2964
Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding, among other things, statements relating to goals, plans and projections regarding the Company's financial position, results of operations, market position, product and service development and market strategy. These statements may be identified by the fact that they use words or phrases such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "predicts," "projects," "targets," "will likely result," "will continue," "may," "could" and other words and terms of similar meaning in connection with any discussion of future operating or financial performance. Such forward-looking statements are based on current expectations and involve inherent risks and uncertainties, including factors that could delay, divert or change any of them, and could cause actual outcomes and results to differ materially from current expectations. These factors include, among other things, competitive product and service development, future broad market acceptance of mold and hospital acquired infection prevention services, difficulties in raising additional capital in the future, difficulties and delays in establishing the "Mold Guard" brand, the impact of the absence of significant proprietary technology underlying the Company's services, a continued and long-term dependence on a limited number of customers, changes to the inventory levels of the Company's raw materials suppliers, the impact of a continued absence of exclusive or long-term commitments from the Company's customers, changes in the anticipated size or trends of the markets in which the Company competes, judicial decisions and governmental laws and regulations, and changes in general economic conditions in the markets in which the Company may compete. For further details and a discussion of these and other risks and uncertainties, see the Company's periodic reports including current reports on Form 8-K, quarterly reports on Form 10-Q and the annual report on Form 10-K, furnished to and filed with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.
AMERICAN MOLDGUARD, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
----------------------------------------- -------------------------
Three Months Ended Twelve Months Ended
Dec. 31, Dec. 31, Dec. 31, Dec. 31,
2005 2006 2005 2006
(UNAUDITED)
----------------------------------------- -------------------------
Revenue, Net $1,689,139 $1,830,699 $ 5,832,585 $ 9,425,307
Cost of Revenue
Direct Costs 1,444,712 938,683 4,652,033 5,154,609
Depreciation
Expense 32,173 72,260 106,577 209,925
----------------------- -------------------------
Total Cost of
revenue 1,476,885 1,010,943 4,758,610 5,364,534
Gross Margin 212,254 819,756 1,073,974 4,060,773
======================= =========================
Selling, general
and administrative
expenses 2,099,542 2,405,532 5,658,114 9,156,770
----------------------- -------------------------
Loss from
operations (1,887,289) (1,585,776) (4,584,139) (5,095,997)
Interest income/
(expense) (766,187) 61,013 (1,345,051) (2,475,123)
----------------------- -------------------------
Loss before
income tax
provision (2,653,476) (1,524,763) (5,929,190) (7,571,120)
Provision/
(benefit) for
income taxes 1,551 (6,582) 2,887 908
----------------------- -------------------------
Net Loss (2,655,027) (1,518,181) (5,932,077) (7,572,028)
======================= =========================
Dividends on
cumulative
preferred stock 175,388 -- 245,706 --
----------------------- -------------------------
Net Loss
applicable to
common share-
holders (2,830,415) (1,518,181) (6,177,783) (7,572,028)
======================= =========================
Basic and
diluted net
loss per share $ (2.82) $(0.33) $ (6.53) $ (2.43)
======================= =========================
Dividends accumulated
for the year on
cumulative preferred
stock $ (0.19) $-- $ (0.27) $--
======================= =========================
Net Loss
attributable to
common stock
per share $ (3.00) $ (0.33) $ (6.80) $ (2.43)
======================= =========================
Weighted average
number of common
shares outstanding-
basic and
diluted 942,301 4,605,092 908,574 3,110,452
AMERICAN MOLDGUARD, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
---------------------------------------------------------------------
December 31, December 31,
2005 2006
---------------------------------------------------------------------
ASSETS
Current Assets:
Cash & cash equivalents $ 67,782 $ 5,307,543
Accounts receivable,
less allowance for
doubtful accounts 1,257,356 1,222,339
Inventories 38,039 125,347
Deferred Offering Costs 620,882 --
Pre-paid Expenses and
Deposits 115,935 409,027
Other Current Assets 80,122 27,399
----------- ----------
Total Current Assets 2,180,116 7,091,655
Property & Equipment net 309,465 875,319
Intangible Assets 2,536 2,368
----------- ----------
TOTAL ASSETS $ 2,492,117 $7,969,342
=========== ==========
LIABILITIES AND SHAREHOLDERS'
EQUITY (DEFICIENCY)
Current Liabilities
Accounts payable and
accrued liabilities $1,908,414 $1,150,286
Lease line of credit -- 188,549
Accrued payroll-related
expenses 1,687,833 661,346
Short term notes payable 3,129,986 1,581
Accrued interest payable 372,326 --
----------- ----------
Total Current Liabilities 7,098,560 2,001,762
----------- ----------
Long-term liabilities
Long-term notes payable,
net of discount 835,089 --
Lease Line of Credit -- 418,544
----------- ----------
Total Liabilities $7,933,649 2,420,306
----------- ----------
Shareholders' Equity
(Deficiency)
Series A Preferred Stock 625,000 --
Series B Preferred Stock 859,000 --
Common Stock 1,475,262 16,606,736
Additional paid-in
capital 2,005,289 6,920,413
Accumulated deficiency (10,406,083) (17,978,113)
----------- ----------
Total Shareholders' Equity
(Deficiency) (5,441,532) 5,549,036
----------- ----------
TOTAL LIABILITIES AND SHAREHOLDERS'
EQUITY (DEFICIENCY) $ 2,492,117 $ 7,969,342
=========== ==========
CONTACT: RedChip
Sanford Diday
(800) 733-2447
sanford@redchip.com
Kitchen Public Relations
Anne Steinberg
(212) 687-8999
anne@kitchenpr.com
At the Company:
Investor Relation Contact
American Mold Guard, Inc.
Paul Bowman, Chief Financial Officer
(949) 240-5144
pbowman@americanmoldguard.com
Jurnei
17 years ago
Source: American Mold Guard Inc.
American Mold Guard Announces the Addition of Dr. Asif Ali to Lead the Company's Antimicrobial Surface Treatment Operation
SAN JUAN CAPISTRANO, Calif., Oct. 17, 2006 (PRIMEZONE) -- American Mold Guard, Inc. (Nasdaq:AMGI), an industry leader in the field of mold prevention services, today announced the appointment of Dr. Asif Ali as President of AMG Scientific, LLC. In his capacity as President of AMG Scientific, Dr. Ali will lead the Company's antimicrobial surface treatment operations targeting infectious disease control.
Dr. Asif Ali completed his medical training at the University of Texas Medical School as a Doctor of Medicine and his residency in internal medicine at the University of Texas Health Science Center in Houston, Texas. Dr. Ali received his master's degree in public health from the University of Texas School of Public Health and he has a Bachelor of Science degree in biology from Trinity University in San Antonio, Texas. Prior to joining AMG Scientific, Dr. Ali was a practicing physician in internal medicine. Dr. Ali has co-authored numerous research papers in leading medical journals. Dr. Ali is and has been involved with numerous volunteer projects, most notably as founder of the Ayesha Begum Charity Organization, which provides medical aid and education for children. He has received recognition for his work in mentoring medical students and volunteering in community health clinics.
"The costs of hospital acquired infections (HAIs) in both human and financial terms are staggering," said Dr. Ali. "This application has the potential to save countless lives and dollars and I'm excited to be a part of a truly innovative approach to combat the problem. Our work with this product shows promise to dramatically reduce interior surface transmitted diseases across the country and contribute to improved public health," concluded Dr. Ali.
"The addition of Dr. Ali to the American Mold Guard team adds tremendous experience and credibility to our focus on antimicrobial surface treatment against HAIs," said Tom Blakeley, CEO of American Mold Guard. "As a respected physician in Houston, Dr. Ali brings a wealth of knowledge, passion and industry contacts instrumental toward expanding the company's leadership in protecting institutions against the spread of infectious diseases. His leadership and experience with HAIs coupled with American Mold Guard's innovative surface applications in antimicrobial polymer technology, will enable the company to expand its service offerings, using existing operational infrastructure to help reduce the number of HAIs throughout the United States," concluded Mr. Blakeley.
"We are excited about Dr. Ali joining AMG Scientific, as well as the recent addition of Dr. Atif Malik as Chief Science Officer. Having these noted professionals lead this new initiative is an exciting step forward for the company," said Paul Bowman, Chief Financial Officer of American Mold Guard. "Both doctors have published articles and are top physicians in their field. Dr. Ali and Dr. Malik are passionate about subduing infectious disease, not only in this country, but throughout the world. Dr. Ali and Dr. Malik have scrutinized American Mold Guard's antimicrobial chemistry and believe that with proper application, it will have a significant effect toward reducing interior surface transmitted infectious disease," concluded Mr. Bowman.
About American Mold Guard
American Mold Guard, Inc. (Nasdaq:AMGI), founded in 2002, is the industry leader in the field of mold prevention services. Its services are primarily focused on the residential real estate construction industry in California, Texas, Louisiana, Mississippi and Florida; with active expansion throughout the United States. Its customers include many of the largest national and regional home builders. Visit: www.americanmoldguard.com.
Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding, among other things, statements relating to goals, plans and projections regarding the company's financial position, results of operations, market position, product and service development and market strategy. These statements may be identified by the fact that they use words or phrases such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "predicts," "projects," "targets," "will likely result," "will continue," "may," "could" and other words and terms of similar meaning in connection with any discussion of future operating or financial performance. Such forward-looking statements are based on current expectations and involve inherent risks and uncertainties, including factors that could delay, divert or change any of them, and could cause actual outcomes and results to differ materially from current expectations. These factors include, among other things, competitive product and service development, future broad market acceptance of mold and hospital acquired infection prevention services, difficulties in raising additional capital in the future, difficulties and delays in establishing the "Mold Guard" brand, the impact of the absence of significant proprietary technology underlying our services, a continued and long-term dependence on a limited number of customers, changes to the inventory levels of the company's raw materials suppliers, the impact of a continued absence of exclusive or long-term commitments from the company's customers, changes in the anticipated size or trends of the markets in which the company competes, judicial decisions and governmental laws and regulations, and changes in general economic conditions in the markets in which the company may compete. For further details and a discussion of these and other risks and uncertainties, see the company's periodic reports including current reports on Form 8-K, quarterly reports on Form 10-Q and the annual report on Form 10-K, furnished to and filed with the Securities and Exchange Commission. The company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.
CONTACT: American Mold Guard, Inc.
Paul Bowman, Chief Financial Officer
(949) 240-5144
pbowman@americanmoldguard.com
RedChip Companies, Inc.
Sanford Diday
(800) 733-2447
sanford@redchip.com
Kitchen Public Relations
Anne Steinberg
anne@kitchenpr.com
James Briggs
jbriggs@kitchenpr.com
(212) 687-8999
Jurnei
18 years ago
Onstream Media Corporation Fiscal 2006 Third Quarter Conference Call Recap
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POMPANO BEACH, Fla., Aug 23, 2006 /PRNewswire-FirstCall via COMTEX/ -- Onstream Media Corporation (ONSM :
onstream media corp com
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ONSM0.62, -0.03, -4.6% ) , a leading online service provider of live and on- demand digital media communications and applications, announced today it held a conference call on August 22nd to discuss its fiscal 2006 third quarter and year-to-date financial results and latest business developments.
The presentation by Randy Selman, President and CEO, and Robert Tomlinson, CFO, both of Onstream Media, included the following key points:
- Fiscal 2006 third quarter revenues increased by approximately 13% over
the corresponding prior year quarter to approximately $2.3 million.
Both Digital Asset Management Group and Webcasting Group revenues
increased during the recently ended quarter, as compared to the
corresponding quarter of the prior year as well as the immediately
preceding quarter of this year.
- The Company's net loss decreased by approximately 49% to approximately
$1.2 million, or an $0.08 loss per share, in the third quarter of
fiscal 2006, as compared to a net loss of approximately $2.3 million,
or a $0.27 loss per share, for the comparable prior year period. A
primary contributor to the Company's fiscal 2006 third quarter net loss
was non-cash expenses, net of non-cash income, totaling approximately
$800,000. These net non-cash expenses include the amortization and
write-off of unamortized discount on convertible debentures,
depreciation, amortization, professional fees paid with shares and
options, interest paid with shares and valuation of derivatives under
EITF 00-19.
- The cash portion of the Company's net loss was approximately $405,000
in the third quarter of fiscal 2006 compared to approximately $636,000
in the same quarter of last year, and approximately $912,000 in the
immediately preceding quarter of this year, representing reductions of
approximately 36% and 56%, respectively. The cash portion of the
Company's net loss is calculated as the Company's net loss less the
impact of non-cash expenses, net of non-cash income, included in that
net loss.
- For more than a year, America Online (AOL) has utilized Onstream
Media's video indexing technology for the AOL(R) Video archive on the
AOL(R) service and the AOL.com portal, and during the recently ended
quarter, extended its contract with the Company.
- Included in Digital Asset Management Group revenues for the quarter was
approximately $120,000 from a new client, Discovery Education, a
subsidiary of Discovery Communications, Inc., the leading global real
world and knowledge-based media company, which selected Onstream Media
to process content for their new online education service. Onstream
Media received a $360,000 non-refundable initial payment in connection
with this contract of which $90,000 was recognized in the current
quarter (as part of the total $120,000 revenues) and the remaining
$270,000 will be recognized as revenue during the remainder of this
calendar year. Onstream expanded its encoding operations to ramp up the
volume of deliveries under the contract, and as a result, expects to
significantly increase revenues for at least the remainder of this
calendar year.
- The Company launched an extension to its Visual Webcaster Platform with
a new lead generation Webinar service. Webinars are becoming an
increasingly popular and cost-effective tool in the overall sales and
marketing functions of many companies. Onstream Media's new service
enables clients to hold real-time virtual seminars over the Internet.
In its own test of the Webinar service, from a single event and a
marketing budget of less than $5,000, Onstream Media received 377
registrations and 197 qualified leads. From those leads, the Company
has set 27 appointments, of which the first 11 meetings have generated
9 proposals valued at over $150,000 and signed contracts for $30,000.
- Onstream increased the capacity of its Digital Media Services Group to
meet expanding demand from its clients and more readily scale its
business, including the investment of more than $700,000 during the
quarter on capital expenditures for hardware, software and facilities.
The Company continues to enhance the DMSP, including the recent
development of new services including ad insertion, upgrades to its
smart encoding technology and new video player design.
- The Company's balance sheet improved due to its discontinuance of
rescission accounting as of June 30, 2006. As a result, the Company
reflected an increase in its additional paid-in capital of
approximately $7.1 million for the nine months ended June 30, 2006,
$5.9 million of which was recognized in the recent quarter.
Mr. Selman stated, "We believe that increasing revenues is the key to eliminating our ongoing cash burn rate and the results of this quarter signify we are making good progress in that regard. We believe that approximately $3.0 million in quarterly revenues will allow us to reach cash flow breakeven, and we are now closer to achieving this goal. Increased sales activity from existing clients, as well as the realization of deferred revenues and new sales from recently awarded contracts, should continue to grow our revenues for further improvements at least through calendar 2006."
A rebroadcast of the call is available online at http://www.visualwebcaster.com/event.asp?id=35308 . An archived version of the webcast will be accessible from the Press Releases page on http://www.onstreammedia.com for at least the next 12 months, pursuant to SEC guidelines.
About Onstream Media Corporation
Founded in 1993, Onstream Media (ONSM :
onstream media corp com
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ONSM0.62, -0.03, -4.6% ) is a leading online service provider of live and on-demand communications and digital media services including encoding, editorial, hosting, digital asset management, streaming, e-commerce/pay-per-view and distribution via the Onstream Digital Media Services Platform. Onstream Media's pioneering ASP Digital Media Services Platform (DMSP) provides its customers with the necessary tools for webcasting, web conferencing, managing digital assets, publishing content on the Internet and establishing e-commerce storefronts to transact business online. All of Onstream Media's services are focused on increasing productivity and revenues, and reducing capital expenditures and operational costs of any organization in an affordable and highly secure environment. As a result, 78% of the Fortune 100 CEOs and CFOs and almost half of the Fortune 1000 companies have used Onstream Media's services.
Onstream Media customers include: AOL, AAA, AXA Equitable Life Insurance Company, Discovery Education, Disney, MGM, Deutsche Bank, Rodale, Thomson Financial/CCBN, PR Newswire and the U.S. Government. For more information, visit the Onstream website at http://www.onstreammedia.com or call 954-917- 6655.
Certain statements in this document and elsewhere by Onstream Media are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such information includes, without limitation, the business outlook, assessment of market conditions, anticipated financial and operating results, strategies, future plans, contingencies and contemplated transactions of the company. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors which may cause or contribute to actual results of company operations, or the performance or achievements of the company or industry results, to differ materially from those expressed, or implied by the forward-looking statements. In addition to any such risks, uncertainties and other factors discussed elsewhere herein, risks, uncertainties and other factors that could cause or contribute to actual results differing materially from those expressed or implied for the forward- looking statements include, but are not limited to, fluctuations in demand; changes to economic growth in the U.S. economy; government policies and regulations, including, but not limited to those affecting the Internet. Onstream Media undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. Actual results, performance or achievements could differ materially from those anticipated in such forward-looking statements as a result of certain factors, including those set forth in Onstream Media Corporation's filings with the Securities and Exchange Commission.
At the Company: Investor Relations:
Barry A. Rothman Gary Geraci
Onstream Media Corporation Equity Performance Group
954-917-6655 617-723-2373
brothman@onstreammedia.com gary@equityperfgp.com
http://www.equityperformancegroup.com
SOURCE Onstream Media Corporation
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Renee
8 years ago
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