BEEP.02x.03.Q out.It seems that this company trying.Q below, and DD.I think some other companies should look in to this company and try for merging.
Cap on 9,6 million out=Only 288k $ with .067 book value, and about 500k yearly revenues.
Message 17485520
THREE MONTHS ENDED MARCH 31, 2002 COMPARED WITH 2001
Revenues decreased approximately $33,000, or approximately 23%, from $143,000 for the three months ended
March 31, 2001 ("2001") to $110,000 for the three months ended March 31, 2002 ("2002"). The decrease in
revenues was primarily the result of a decrease in the subscriber base which occurred due to a lack of
inventory. The total number of subscribers decreased by 900 since March 31, 2001. This decrease was due to
normal attrition which was not offset with new pager sales due to a lack of inventory in 2002 and
management's efforts were concentrated on the filing requirements imposed by the SEC.
Cost of revenues, which consist primarily of cost of pagers and service, rent and maintenance expenses,
decreased approximately $30,000, or approximately 28%, from $107,000 in 2001 to $77,000 in 2002. This
decrease was attributable to the lack of inventory as noted above and a reduction in cost of pagers sold and
telecommunications expenses. Pagers are classified as inventory when purchased and the cost is included in
cost of product sales when the unit is sold. The Company expects its service, rent and maintenance expenses
to decrease as a percentage of revenues and per subscriber unit in future periods as it continues to renegotiate
certain of its telecommunications and third party services contracts and decommissions redundant transmitter
and tower sites. The Company expects such expense savings to be partially offset by an increase in rental costs
for other transmitter and tower sites as the Company enhances its presence in the Southeastern United States.
General and administrative expenses decreased approximately $88,000 from $112,000 in 2001 to $24,000 in
2002. The decrease in general and administrative expenses is attributable to a decrease in professional and
consulting fees associated with SEC reporting requirements. Also, there was a decrease in salaries paid as the
Company attempted to offset the reduction in revenues. The Company has taken measures to reduce all
unnecessary operating expenses.
Depreciation and amortization expense decreased approximately $5,000 from $30,000 in 2001 to $25,000 in
2002. The decrease in depreciation and amortization expense resulted from portions of the subscriber ber
equipment and other capitalized assets becoming fully depreciated in 2002.
Interest expense decreased approximately $1,000 from $8,000 in 2001 to $7,000 in 2002. Interest expense
decreased due to lower average debt balances outstanding during 2002. Average debt balances were lower in
2002 than in 2001 as a result of stockholder debt repaid and other bank debt paid off in 2001.
The Company's net loss decreased approximately $83,000 from $110,000 in 2001 to $27,000 in 2002. The
decrease in net loss was primarily the result of cost saving measures implemented by the Company in an
attempt to offset the decrease in the subscriber base and the resulting decrease in revenues. The Company
expects net losses to decrease in future periods.
BEEPE .015 x.03. Way undervalue IMO.It filed and it is losing the E.
DD:Read all carefully,and you will see some good flavor.
The bid at .015 x 9,7 million out=Market Cap of only $150k.Even as a shell would be worth 5 times that.IMO a fair value on the stock price should be at the list .07 per share for BEEP.
1)As of December 31, 2001, 9,673,936 shares of common stock were outstanding. Also as of December 31, 2001, there were 506 holders of record of the Common Stock based upon information furnished by Progressive Transfer Company, Salt Lake City, Utah, the transfer agent for the Common Stock.
2)Float about 3,5 million only.SMALL.
3)Total assets=$ 1,422,689
Total liabilities = $ 776,173
Total stockholders' equity =$646,516
4)Book value= .067, And the stock is?
5)Insiders below own the crap out of the company.Almost 80%.
David R. Pressler Common Stock 5,240,500 (2) 66.9%
Cede & Co. Common Stock 997,724 12.7%
6)The Company has entered into a letter of intent with a financial institution to serve as agent to obtain equity financing of $10 million.
7)Intangible assets
The Company owns seven Certificates of Public Convenience and Necessity issued by the Alabama Public Service Commission and thirty-four frequencies licensed by the Federal Communications Commission. These certificates and licenses allow the Company to provide wireless messaging services in certain cities in Alabama, Florida, Mississippi, Louisiana, Georgia, Tennessee, Arkansas and Texas. At December 31, 2001 and 2000, the original costs of intangible assets were fully amortized. The information relative to original costs and accumulated amortization at December 31, 2001 and 2000, was not available. Based on appraisals, the approximate fair market value of the certificates and licenses is in excess of $10,000,000 (unaudited)
8)Poor Guy.Even a Secretary gets paid more.
David R. Pressler, the President of the Company, received compensation of approximately $24,000 in 2001
9)Revenues around 500,000.
10)Trading at $2 then.
In January 1999, the Company entered into an agreement with a firm to provide financial and public relations services beginning at such time as the Company became compliant with all U. S. Securities and Exchange Commission reporting requirements and reinstatement of the Company's stock to trading on the OTC Bulletin Board. The Company issued 150,000 shares to the firm which at the time of issuance were trading at $2.025. As of December 31, 2001 and 2000, no services have been provided under this agreement, none of the aspects of the agreement have expired and the balance remaining on the agreement totaled $303,750.
In connection with the reorganization of the Company in October 1998 and the acquisition of Communitronics, Inc. and its subsidiaries, David R. Pressler, a director and President of the Company, received 4,715,500 shares of Common Stock of the Company, valued at $0.10 per share, for 100% of his shares of Communitronics, Inc.; and Sam Mastrull, a former director and Chief Financial Officer of the Company, received 116,500 shares of Common Stock of the Company, valued at $0.10 per share, for 100% of his shares of Communitronics, Inc. The terms of this transaction were at least as favorable to the Company as you would expect to negotiate with an unaffiliated third party in a similar transaction.
Mr. Pressler became Chairman of the Board, Chief Executive Officer, and President of the Company on October 26, 1998, following the Company's acquisition of all of the issued and outstanding stock of Communitronics, Inc. He founded and was the President of Communitronics, Inc. from 1975 until its acquisition by the Company. Mr. Pressler holds an FCC Master Radio Engineer Rating with radar endorsement. He is a certified engineer (EI-0216), and is a senior member of the National Association of Radio and Telecommunications Engineers.
The geographic areas served by the Company covers approximately 10,000,000 persons. In its markets, the Company presently serves approximately 2,049 subscribers to its message paging and information delivery services at December 31, 2001.
Communitronics of America, Inc. (the "Company") was incorporated under the laws of the State of Utah in September 1970 and is headquartered in Daphne, Alabama. Communitronics of America, Inc., or one of its predecessors, has operated paging, two-way mobile communications services, and telemessaging services in South Alabama for over 25 years. References to Communitronics or the Company as used throughout this document means Communitronics of America, Inc. or Communitronics of America, Inc. and its subsidiaries, as the context requires. Communitronics provides wireless messaging such as conventional paging and other telecommunications services in non-major metropolitan areas and communities. Currently the Company provides services in Alabama, Florida, Louisiana, and Mississippi. The Company has 6 sales offices in those states. Through inter-carrier arrangements, Communitronics also provides nationwide and expanded regional coverage. Communitronics overall business strategy is to continue growing in its existing markets as well as to enter similar, adjacent markets by opening new sales offices or acquiring other regional paging companies. The Company would consider acquisitions of paging companies that cover larger metropolitan areas provided that those companies also service markets that are strategically located near the Company's existing markets. Communitronics believes its current markets continue to offer significant growth potential for paging and other wireless services. During the next two years, the Company intends to focus most of its expansion efforts on opening new sales offices in targeted market areas already serviced by its existing paging system and broadening its range of products sold. By reducing overhead costs, expanding sales and marketing efforts, and focusing on customer service, the Company believes that it can improve its operating margins while achieving continued pager unit and revenue growth. Additionally, if the opportunity to acquire other regional paging companies arises, the Company believes it can achieve better operating results than those achieved by the businesses separately by consolidating administrative functions, taking advantage of economies of scale, and sharing common frequencies to offer existing customers a wider area of paging coverage. |
