Here is a tiny company to keep an eye on. Tons of potential here. It's well worth a call to management to understand what the potential is. They are also going into their typically busiest quarter and I would expect that they will do at least $0.03 for the last quarter and $0.08 for the year ending this December. Symbol is ILI-V
ILI Technologies earns $73,310 in Q3
2003-11-12 12:23 ET - News Release
Mr. Serge Bonnet reports
ILI TECHNOLOGIES (2002) CORP. ANNOUNCES THIRD CONSECUTIVE PROFITABLE QUARTER
ILI Technologies (2002) has provided the following results for the three- and nine-month period ended Sept. 30, 2003.
Commentary
Serge Bonnet, president and chief executive officer, is particularly pleased that the latest quarter's profitability continued the trend of profitability from the first and second quarters of 2003. The turnaround from losses in 2002 to profits in 2003 reflects a combination of the company's late 2002 restructuring plan, management's continued efforts at cost control, and focusing on delivering products and services to U.S. and Canadian customers.
During this quarter there were also several significant achievements as follows:
field trials of the new SandTrax system were completed;
patents for the SandTrax system were filed in the United States;
a private placement was completed for $75,000; and
the company started to increase investor awareness of the financial turnaround.
Outlook
The third quarter reflected a continuation of strong activity levels in the oil and gas industry throughout 2003. Commodity prices and activity levels are expected to remain strong during the fourth quarter also. Consequently, management expects the company to generate another profitable quarter and to continue exploiting the potential for the SandTrax product.
WARNING: The company relies upon litigation protection for "forward-looking" statements.
STATEMENT OF OPERATIONS AND DEFICIT
Three months ended Sept. 30
2003 2002
Revenue $213,891 $135,605
Direct costs 2,762 12,754
Gross profit 211,129 122,851
Expenses
General and
admin 122,900 162,625
Research and
development 4,778 6,065
Marketing - -
Amortization 8,975 11,089
Interest 1,166 1,117
---------- ----------
137,819 180,896
---------- ----------
Earnings (loss)
for the period $73,310 $(58,045)
========== ==========
Deficit,
beginning of
period $(2,454,701) $(2,636,134)
Deficit, end
of period $(2,381,391) $(2,694,179)
Earnings
(loss) per
share -- basic
and diluted $0.01 $(0.01)
STATEMENT OF OPERATIONS AND DEFICIT
Nine months ended Sept. 30
2003 2002
Revenue $705,438 $340,141
Direct costs 31,254 48,263
Gross profit 674,184 291,878
Expenses
General and
admin 343,972 530,174
Research and
development 12,993 8,494
Marketing - 37,325
Amortization 26,926 33,268
Interest 5,010 5,151
---------- ----------
388,901 614,413
---------- ----------
Earnings (loss)
for the period $285,283 $(322,535)
========== ==========
Deficit,
beginning of
period $(2,666,674) $(2,371,644)
Deficit, end
of period $(2,381,391) $(2,694,179)
Earnings
(loss) per
share -- basic
and diluted $0.05 $(0.06) |
