Here is one making a come back, tiny float, only 500,000.
SIGNAL HILL, Calif.--(BUSINESS WIRE)--June 9, 1999--Shares of Tri-Lite Inc., an energy
conservation company, began trading Wednesday on the Over-the-Counter Bulletin Board under
the symbol NRGG.
The company, whose shares formerly traded on the American Stock Exchange, filed a voluntary
petition under Chapter 11 of the U.S. Bankruptcy Code on Feb. 26, 1996 and its plan of
reorganization was approved Jan. 16, 1997. As is customary, its shares were delisted by the
exchange when it entered Chapter 11 proceedings.
The company presently has 4,928,948 common shares outstanding, of which approximately
500,000 are available for public trading.
Tri-Lite reported an after-tax profit of $111,512, or a fully diluted $0.03 per share, on revenues of
$1,400,854 for the first quarter ended March 31, 1999 versus an after-tax profit of $132,500, or a
fully-diluted $0.03 per share, on revenues of $1,194,900 in the like year-ago quarter.
For the year ended Dec. 31, 1998, the company reported a loss of $49,505, or a fully diluted loss
of $0.01 per share, on revenues of $4,450,019. This compares with a loss of $398,610, or $0.10
per share, on revenues of $5,084,837 in 1997 and a loss of $4,212,688, or $0.70 per share, on
revenues of $8,047,095 in 1996.
E. Maxwell Malone, chief executive officer, said he is ''gratified at the substantial improvement the
company has made over the past three years,'' and ''I fully expect the trend will continue through
1999 and beyond.''
The company's operations are comprised of two operating subsidiaries, AIM Energy Inc. and
Self-Powered Lighting Inc. (SPL).
AIM Energy manufactures and markets approximately 25 versions of its patented ''Active Injection
Mode Harmonic Conditioner'' (AIM), an electronic device which mitigates or cancels harmonic
current distortion. In early 1992 harmonics (commonly described as a form of electronic pollution)
was first recognized as a serious consequence resulting from efforts to combat global warming and
acid rain. Harmonic Current Distortion thus constitutes a major threat to electrical wiring,
transformers, computers and other conduits and products that are electrically driven. Sales of active
harmonic mitigators in 1992 totaled zero dollars, according to AIM President Ernest Dageford. He
said sales in 1998, for all active mitigators, were approximately $100 million.
He said the industry, presently consisting of three manufacturing companies based in the United
States and about 20 to 25 others throughout the world, is moving toward active filters as compared
with passive filters, adding that sales of active filters will continue to rise rapidly into the billion dollar
range early in the new millennium. AIM manufactures active filters.
SPL is engaged in the manufacture and marketing of specialized emergency and exit lighting fixtures.
According to SPL President Jack Katz, SPL's first quarter ended March 31, 1999 was the ''finest
in its history.'' He said that orders from New York City, its first from this city, recently had been
received and that relationships now in their early stages with major retailers and users will be
effective in the current calendar year.
SPL is the leading provider of emergency exit signs to the commercial airline industry in the United
States and, according to Katz, expects to penetrate the European market in the near future.
Certain of the above statements may be forward looking statements that involve risks and
uncertainties. In such instances, actual results could differ materially as a result of a variety of factors,
including competitive developments and risk factors listed from time to time in the company's SEC
reports.
Contact:
Tri-Lite Inc., Signal Hill
E. Maxwell Malone, CEO, 562/426-8622
or
ACC Communications LLC
Paul Keil, 805/693-894SIGNAL HILL, Calif.--(BUSINESS WIRE)--June 9, 1999--Shares of Tri-Lite Inc., an energy
conservation company, began trading Wednesday on the Over-the-Counter Bulletin Board under
the symbol NRGG.
The company, whose shares formerly traded on the American Stock Exchange, filed a voluntary
petition under Chapter 11 of the U.S. Bankruptcy Code on Feb. 26, 1996 and its plan of
reorganization was approved Jan. 16, 1997. As is customary, its shares were delisted by the
exchange when it entered Chapter 11 proceedings.
The company presently has 4,928,948 common shares outstanding, of which approximately
500,000 are available for public trading.
Tri-Lite reported an after-tax profit of $111,512, or a fully diluted $0.03 per share, on revenues of
$1,400,854 for the first quarter ended March 31, 1999 versus an after-tax profit of $132,500, or a
fully-diluted $0.03 per share, on revenues of $1,194,900 in the like year-ago quarter.
For the year ended Dec. 31, 1998, the company reported a loss of $49,505, or a fully diluted loss
of $0.01 per share, on revenues of $4,450,019. This compares with a loss of $398,610, or $0.10
per share, on revenues of $5,084,837 in 1997 and a loss of $4,212,688, or $0.70 per share, on
revenues of $8,047,095 in 1996.
E. Maxwell Malone, chief executive officer, said he is ''gratified at the substantial improvement the
company has made over the past three years,'' and ''I fully expect the trend will continue through
1999 and beyond.''
The company's operations are comprised of two operating subsidiaries, AIM Energy Inc. and
Self-Powered Lighting Inc. (SPL).
AIM Energy manufactures and markets approximately 25 versions of its patented ''Active Injection
Mode Harmonic Conditioner'' (AIM), an electronic device which mitigates or cancels harmonic
current distortion. In early 1992 harmonics (commonly described as a form of electronic pollution)
was first recognized as a serious consequence resulting from efforts to combat global warming and
acid rain. Harmonic Current Distortion thus constitutes a major threat to electrical wiring,
transformers, computers and other conduits and products that are electrically driven. Sales of active
harmonic mitigators in 1992 totaled zero dollars, according to AIM President Ernest Dageford. He
said sales in 1998, for all active mitigators, were approximately $100 million.
He said the industry, presently consisting of three manufacturing companies based in the United
States and about 20 to 25 others throughout the world, is moving toward active filters as compared
with passive filters, adding that sales of active filters will continue to rise rapidly into the billion dollar
range early in the new millennium. AIM manufactures active filters.
SPL is engaged in the manufacture and marketing of specialized emergency and exit lighting fixtures.
According to SPL President Jack Katz, SPL's first quarter ended March 31, 1999 was the ''finest
in its history.'' He said that orders from New York City, its first from this city, recently had been
received and that relationships now in their early stages with major retailers and users will be
effective in the current calendar year.
SPL is the leading provider of emergency exit signs to the commercial airline industry in the United
States and, according to Katz, expects to penetrate the European market in the near future.
Certain of the above statements may be forward looking statements that involve risks and
uncertainties. In such instances, actual results could differ materially as a result of a variety of factors,
including competitive developments and risk factors listed from time to time in the company's SEC
reports.
Contact:
Tri-Lite Inc., Signal Hill
E. Maxwell Malone, CEO, 562/426-8622
or
ACC Communications LLC
Paul Keil, 805/693-8947 |
