QPDC 1.70...10k came out yest. Results below. Company states they will stop filing and go to pinks. More and more companies are doing this to save the costs of Sarbannes Oxley..in this case about $300k per year. But, they also state they will continue to provide financial reports. Great numbers. From 8-k:
++As a non-reporting company, we will not be supplying financial information to the SEC and the Company's common stock will no longer be eligible to be quoted on the Over the Counter Bulletin Board. We anticipate that market makers will still quote prices for the Company's stock in the Pink Sheets. The Company will still produce financial statements (although they may be unaudited), which will be available to shareholders quarterly upon request. Our final SEC report including an audited financial statement will be the Form 10-KSB report for the period ending September 30, 2004 which we will submit to the SEC before the end of the calendar year.**
RESULTS-
OVERVIEW-From 10k
'Consolidated sales increased $2,187,663 or 28.7% during the year ended September 30, 2004 to $9,806,634 from $7,618,971 in the year ended September 30, 2003. Both Multipress and Columbus Jack contributed to the increase. Consolidated operating income was $1,880,971 in 2004 as compared to $748,639 in 2003. The increased sales and reduced operating expenses within the entire Company are the primary reasons for the increased operating profit.'end
Net inc was $1.85m vs $1.07m or $.55 per sh vs $.31 per sh. SE $4.7m. Shares outstanding 3.1m. |
