this board has died....but i think maybe the stock is coming alive.....closed at 30 cents today....hasn't seen these price levels in over two years.
and since no one posted this previously:
FiberChem Announces Fiscal 1999 Results
LAS VEGAS--(BUSINESS WIRE)--Jan. 7, 2000--FiberChem Inc. (OTCBB:FOCS) announced audited results for its fiscal year ended Sept. 30, 1999 (Fiscal 1999).
The Company reported revenues of $1,957,110 compared with revenues of $1,317,600 for the previous year, an increase of 49%. Operating expenses for the year were $2,649,776 compared with $2,790,213 for Fiscal 1998. The Company reported a net loss of $2,221,742 ($0.07 loss per share) compared with a net loss of $2,392,225 ($0.09 loss per share) for Fiscal 1998. Gross profit was 50% of sales for Fiscal 1999 compared with 53% of sales for Fiscal 1998.
Geoff Hewitt, Chairman and Chief Executive Officer, said, "Fiscal 1999 was characterized by an increase in sales to the Florida Aboveground Storage Tank market in anticipation of the compliance date of December 31, 1999.
"Florida Power, Reedy Creek Energy, Jacksonville Electric, Motiva Enterprises, (formerly Shell Oil and Texaco), GATX and Marathon Ashland Petroleum, as well as the Miami, Tampa, Orlando, and West Palm Beach Airports all purchased the Company's Petrosense(R) leak detection equipment in the reporting period. Sales to this market in Florida are expected to continue through the third fiscal quarter of 2000. Similar regulations have been proposed or adopted in Alaska, Virginia, Pennsylvania, New Jersey, Minnesota and Wisconsin with compliance dates beginning at the end of Calendar 2000.
"After a difficult period of consolidation and low prices that affected the offshore oil and gas production market, the Company is pleased by the number of additional new orders from some of the early adopters of the Company's produced water analyzer technology. This trend accelerated through the end of the calendar year.
"The Company's Sensor-on-a-Chip(R) project with Marconi Commerce Systems (formerly Gilbarco), while still awaiting the final promulgation of the retail gasoline dispenser regulations driving its implementation, has moved to the pre-production stage. Marconi is providing financial support for the Company's continuing development of the chip. Other sensor projects are also ongoing."
On Dec. 6, 1999, the Company announced that it has executed a definitive Agreement with Intrex Data Communications Corp. ("Intrex") of Vancouver, British Columbia, to combine the businesses of FiberChem and Intrex. Under the terms of the Agreement, the shareholders of each company will own an equal share of the combined company, to be renamed DecisionLink, Incorporated.
Intrex is a private company and its proprietary Internet and communications technology provides customers with a real-time system for communicating data to or from remote or mobile assets using wireless, satellite or cellular data systems. A report on Form 8-K describing the Agreement was filed on Dec. 27, 1999.
This report includes forward-looking statements relating to the Company's operations that are based on Management's and third parties' current expectations, estimates and projections. These statements are not guarantees of future performances and actual results could differ materially. The statements in this report regarding FCI's proposed business combination with Intrex, the combined entity's delivery of services over the Internet and the size of the market for the combined company's services, are forward-looking statements that involve risks and uncertainties. These risks and uncertainties include: FCI's ability to complete the combination, the combined entity's ability to market its services using the two companies' technologies, the timely development and acceptance of new products, final promulgation and enforcement of regulations, the impact of competitive products and pricing, the timely funding of customer's projects, customer payments to the Company and other risks detailed from time to time in the Company's SEC reports.
FiberChem Inc. develops, manufactures, markets and licenses fiber optic chemical sensors (FOCS(R)) that produce continuous, real-time information on environmental pollutants in the air, water and soil.
CONTACT:
Continental Capital & Equity Corp.
Scott A-B Gibson, 407/682-2001
www.insidewallstreet.com (Click on Special Situations)
e-mail: scott@insidewallstreet.com
KEYWORD: NEVADA FLORIDA
BW0341 JAN 07,2000
15:10 PACIFIC
18:10 EASTERN
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