AWLT: Releases Financials / 0.0253 earnings on 16mil [6mil float]
ARALDICA WINERIES [and cheeses] - Barely known on internet. Up 50 percent on just 150,000 shares traded.
Thursday March 12, 7:56 am Eastern Time
NEW ROCHELLE, N.Y.--(BUSINESS WIRE)--March 12, 1998--Dominick J.
Zaccoli, Sr., Vice President and Chief Financial Officer of Araldica
Wineries Ltd., today released the company's unaudited financial
information on the results of the last twelve months of operations.
Araldica Wineries Ltd. (OTC/BB symbol ''AWLT'') is a public company
engaged (since 1993) in the marketing of premium Italian wines, olive
oils and specialty foods.
The attached two pages were released today:
1. The unaudited, consolidated balance sheets of the company and its
seven subsidiaries as at Jan. 31, 1998; and
2. The unaudited, consolidated Statements of Operations of the company
and its seven subsidiaries for the twelve months through Jan. 31, 1998.
The company expects to publish audited financial statements within the
next 30 days, based upon the latest information which it has received
from its auditors, Goldenberg, Rosenthal, Friedlander, of Jenkintown,
Pa.
Araldica Wineries Ltd. and Subsidiaries
Consolidated Balance Sheets
(unaudited)
January 31, 1998
Assets
Current Assets:
Cash $ 124,449
Accounts receivable (net) 876,727
Inventories 477,045
Total current assets 1,478,221
Fixed Assets (net):
Land & Buildings 2,745,000
Truck Fleet 456,921
Machinery & Equipment/
Furniture & Fixtures 750,535
Total fixed assets 3,952,456
Other Assets:
Patents & Trademarks 500,000
Prepaid television time 5,000,000
Goodwill 382,700
Total other assets 5,882,700
$ 11,313,377
Liabilities and Stockholders' Equity
Current Liabilities:
Accounts payable $ 925,962
Current portion, long-
term debt 180,000
Other 85,394
Total current liabilities 1,191,356
Long-term debt:
Mortgages payable 1,672,047
Notes payable 551,298
Acquisition notes 1,420,000
Notes payable, investors 504,799
4,148,144
Stockholders' Equity:
Common stock, par value $.001
Authorized shares 50,000,000
Issued/outstanding shares
16,635,072 16,635
Additional paid-in capital 6,585,290
Retained earnings (628,048)
Total stockholders' equity 5,973,877
$ 11,313,377
-0-
Araldica Wineries Ltd. and Subsidiaries
Consolidated Statements of Earnings
(unaudited)
Twelve Months Ending January 31, 1998
Net Sales $ 8,418,354
Cost of Sales 6,818,867
Gross Margin 1,599,487
Expenses:
Selling & shipping expenses 307,421
General & administrative
expenses 579,724
887,145
Income from operations 712,342
Other income (expense)
Interest expense, net (291,392)
Earnings before income taxes 420,950
Income taxes 0
Net earnings applicable to
common stock $ 420,950
Earnings per share of
common stock:
Net earnings per share $ 0.0253
Weighted average shares
outstanding used to compute
net earnings per share 16,635,072
------------------------------------------------------------------------
Contact:
Araldica Wineries Ltd., New Rochelle
Dominick J. Zaccoli Sr., 914/636-0500
Fax: 914/636-0518
email: araldica@idsi.net
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COMMENT: I have been watching this one growing for 6 months and they are now ready for harvest. They sell Italian wines, so they BOUGHT a Vineyard. They sell cheeses and gourmet foods, so they bought a distributor. They needed exposure so they pre-paid a half-million for TV ads. It is a family run business, where the family founder hired a sharp CFO to take over business, while he concentrates on their concerns in Italy. Received investor kit. Real products, real people and now real earnings.
Rande Is
~~~This is not a recommendation to buy or sell stock. This post is intended simply to relay information. Opinions are mine, so your own research. Penny stocks are risky. |
