posted
Tricell is Pleased to Announce European Court of Justice Decision on Tax Refund Jan 12, 2006 4:27:00 PM STAFFORDSHIRE, U.K., Jan. 12 /PRNewswire-FirstCall/ -- Tricell Inc. (OTC Pink Sheets: TCLL), today announces that the European Court of Justice ruled in favor of companies such as Tricell whose VAT refunds had been withheld by HM Revenue & Customs. This decision emanates from HM Revenue & Customs' prosecution of the Finance Bill of 2003 which made companies liable to the VAT debts of other firms who may have engaged in fraud. The ECJ ruled that a person who carries out an otherwise lawful transaction can not be affected by the fact that in the chain of supply of which that transaction forms part, another prior or subsequent transaction is compromised by value added tax fraud, without that person knowing or having any means of knowing of such fraud. HM Revenue & Customs' position was that this fraud, also referred to as "missing trader fraud," occurred when a business imported goods, in Tricell's case electronic commodities such as cellular telephones, then sold the goods to another business with VAT added to the sales price and the selling importer then did not pay the VAT withheld.
HM Revenue & Customs had withheld VAT refunds to importers who submitted proper refund requests, but who had the misfortune of buying or selling goods which some other business had not paid their separate independent VAT refund. Andre Salt, Tricell's CEO and Chairman of the Board, stated, "Tricell can now buy goods in the open market without fear of having VAT refunds withheld by Customs.
Andre Salt added, "We are very relieved and pleased with the ruling of the ECJ, Tricell will now pursue damages for lost profits, attorneys' fees expended, and other damages."
Tricell Inc. was established in 1999 as a distributor of mobile phones and related accessories to the wholesale markets in the UK, Europe, Middle East and Asia. For more information, please visit our website at www.tricellinc.com , or the SEC's Edgar filing system at www.sec.gov .
Disclaimer:
The above news release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 (the "Act"). These statements are based on assumptions that management believes are reasonable based on currently available information. However, management's assumptions and the company's future performance are both subject to a wide range of business risks and external factors. There is no assurance that these goals and projections can or will be met.
SOURCE Tricell Inc.
---------------------------------------------- Jeff Nunn Managing Director of Tricell Inc. +44-8707-532360 or fax +44-8707-532361 or Info*tricelldistribution.com
IP: Logged |
posted
Tricell Announces Net Profit and Increased Revenues for Third Quarter of 2005 Nov 22, 2005 4:20:00 PM STAFFORDSHIRE, England, Nov. 22 /PRNewswire-FirstCall/ -- Tricell Inc. (OTC Pink Sheets: TCLL), announced a net profit of $349,900 for the quarter ended September 30, 2005, as compared to a net loss of $877,181 for the same quarter last year. Net profit for the nine months ended September 30, 2005 was $217,862, as compared to a net loss of $2,419,044 for the same period in 2004. Additionally, the Company's sales revenue increased substantially to $516.9 million for the nine months ended September 30, 2005 as compared to $12.7 million for the same period in 2004, while it increased to $240.1 million for the quarter ending September 30, 2005, as compared to $3.9 million for the same quarter last year. The increase in revenues and profits during the quarter and nine months ended September 30, 2005 as compared to the quarter and nine months ended September 30, 2004 is the result of our recommencement of material trading operations in January 2005.
Andre Salt, Tricell's CEO and Chairman of the Board, stated "We at Tricell are very encouraged with our results through the first nine months of 2005, and are optimistic we will continue our level of operations through 2005 and 2006. Our integration of Ace Telecom, together with the appointment to our board of directors of the Ace principals, has been effected as seamlessly as we could have envisioned."
Tricell Inc. was established in 1999 as a distributor of mobile phones and related accessories to the wholesale markets in the UK, Europe, Middle East and Asia. For more information, please visit our website at www.tricellinc.com , or the SEC's Edgar filing system at www.sec.gov .
Disclaimer:
The above news release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 (the "Act"). These statements are based on assumptions that management believes are reasonable based on currently available information. However, management's assumptions and the company's future performance are both subject to a wide range of business risks and external factors. There is no assurance that these goals and projections can or will be met.
SOURCE Tricell Inc.
---------------------------------------------- Jeff Nunn Managing Director of Tricell Inc. +44-8707-532360 or fax +44-8707-532361 or Info*tricelldistribution.com
IP: Logged |
posted
hey, that's great news! THe VAT refund issue has been looming over this company for several years. FINALLY!!!! That should help with each transaction profit margin. I'd look for revenues around $250,000,000 and net income around $1M for the 4th quarter. Still holding mine. Trying to get some at bid of .10 but is a tough fill. Is anyone able to fill at the ask of $.12?? I sure would like to acquire at least another 30-50K down here before the earnings are released for Q4. Incredible revenues for a penny stock.
"We had net income of $349,900 for the quarter ended September 30, 2005 as compared to a net loss of $877,181 for the same quarter in 2004. Our sales revenue increased by 6010%, to $240,167,787 for the three months ended September 30, 2005 from $3,996,543 for the same period in 2004.
posted
It just came off pinks last week. My ameritrade L2 is showing same thing but i hope they fix it quick. try entering manually and you will get proper updates.
IP: Logged |
posted
As I have pointed out on some other boards, I firmly believe the only thing holding us back right now is the fact nobdy has L2's right now, since the switch off the pinks to the OTC. When L2 is back this stock is going to fly... Too small of a float.
IP: Logged |
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
