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Be blessed
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Be blessed
quote:
Originally posted by keithsan:
anyone in or you guys just watching? been busy missed out maybe.....
Just watching since .025 looking for an entry.
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Be blessed
quote:
Originally posted by Meshoe45:
Way down now
Either a shake or a dump. I dont know.
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Be blessed
Yeah, right. I missed AISI, and I missed TRPL yesterday. I think the only rule is: There are no rules.
crap.
Thanks anyway, StockMinister
quote:
Originally posted by WinsumLosesum:
Rule #1 : Never chase a stock.Yeah, right. I missed AISI, and I missed TRPL yesterday. I think the only rule is: There are no rules.
crap.
Thanks anyway, StockMinister
The way it's moving, I would not hold on to it for more than a half an hour, unless you just have free money to use or lose.
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Be blessed
Someone needs to read the 10Q
I'm checking L2 right now.
INTRODUCTION
The following analysis of the financial condition and results of operations of Aris Industries, Inc. (the "Company") for the three-month periods ended March 31, 2004 and 2003 should be read in conjunction with the consolidated condensed financial statements, including the notes thereto, included on pages 3 through 10 of this report.
FORWARD LOOKING STATEMENTS
This report includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which represent the Company's expectations or beliefs concerning future events that involve risks and uncertainties, including the ability of the Company to satisfy the conditions and requirements of the credit facilities of the Company, the effect of national and regional economic conditions, the overall level of consumer spending, the performance of the Company's products within prevailing retail environment, customer acceptance of both new designs and newly-introduced product lines, and financial difficulties
encountered by customers. All statements other than statements of historical facts included in this Annual Report, including, without limitation, the statements under "Management's Discussion and Analysis of Financial Condition," are forward-looking statements. Although the Company believes that expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct.
ADOPTION OF STATEMENT OF FINANCIAL ACCOUNTING STANDARDS NO. 146
In June 2002, the Financial Accounting Standards Board ("FASB") issued Statement of Financial Accounting Standards ("SFAS") No. 146, "Accounting for Costs Associated with Exit or Disposal Activities". SFAS No. 146 addresses financial accounting and reporting for costs associated with exit or disposal activities and nullifies Emerging Issues Task Force ("ETIF") Issue No. 94-3, "Liability Recognition for Certain Employee Termination Benefits and Other Costs to Exit an Activity". SFAS No. 146 requires that a liability for a cost associated with an exit or disposal activity be recognized when the liability is incurred. This Statement also established that fair value is the objective for initial measurement of the liability. The provisions of SFAS No. 146 are effective for exit or disposal activities that are initiated after December 31, 2002. The adoption of SFAS No. 146 did not have a material impact on the consolidated financial statements.
FINANCIAL CONDITION
LIQUIDITY AND CAPITAL RESOURCES
These consolidated condensed financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business.
As of March 31, 2004, the Company had a working capital deficit of approximately $8,009,000 compared to a working capital deficit of approximately $6,068,000 at December 31, 2003. The increase in the working capital deficit was primarily due to the Company's loss from operations. During the three-months ended March 31, 2004, the Company financed its working capital requirements principally through licensing revenue from its Members Only license along with the proceeds from the Asset Purchase Agreement relating to the sale of it's Phat Farm license in December 2003 (see Note 2).
On May 7, 2003, the Company signed a definitive trademark purchase agreement with Global Brand Holdings, LLC ("Global") providing for the sale of the trade name and service mark XOXO(R) and the trademarks XOXO(R), XOXO IN AMERICA AND ABROAD(R), LOLA(R) and FRAGILE(R) along with certain related assets and accompanying goodwill for a total sum of $43 million in cash. On July 2, 2003, the Company completed the sale of the trade name and service mark. The Company received $43 million in cash at closing of which $2 million was set aside in one escrow account and $1 million was set aside in an additional escrow account, to secure certain post-closing obligations of the Company. As the result of a default by an XOXO licensee and claims arising from a transition agreement, the $2 million dollar escrow account was reduced by approximately $1,498,000. The Company collected the remaining balance of this escrow account in April 2004. The remaining escrow account does not expire until the third anniversary of the transaction date.
On December 22, 2003, pursuant to an Asset Purchase Agreement dated December 22, 2003, BP Clothing Company, Inc. ("BP"), an indirect wholly owned subsidiary of the Company, and Adamson Apparel, Inc. ("Adamson"), a related party, sold to a newly created limited liability company, BP Clothing LLC (the "Buyer"), an unaffiliated company, substantially all of the operating assets, including licensed trademark rights and other intangibles, inventory, machinery and equipment, rights under customer sales orders and open vendor purchase orders of BP and Adamson relating to the manufacture, distribution and sale of the Baby Phat(R) line of clothing and related accessories pursuant to a License Agreement by and between Phat Fashions LLC and BP dated as of July 1, 1999 (the "License Agreement"). In connection with the transaction, Phat Fashions LLC terminated the License Agreement with BP and entered into a new license agreement with Buyer (the "New License"). Adamson had been operating the business pursuant to a sub-license with BP.
In accordance with the Asset Purchase Agreement, BP was to receive an initial payment of $2,500,000 in cash at closing. This amount was reduced by approximately $1,200,000 of offsets. In addition, Buyer issued a promissory note payable to BP in the principal amount of $4,500,000, after additional offsets of approximately $500,000, and has agreed to pay $2,000,000 to the Company in June 2004 and $2,500,000 at a rate of 1% of net sales each month commencing on July 18, 2004 and ending on the maturity date, June 30, 2005, or sooner if fully paid.
In May 2004 the Company and Buyer restructured the $2,000,000 payment due in June 2004. As a result of this restructuring the Company will receive the $2,000,000 in weekly installments which vary from $100,000 to $200,000 and commence on May 13, 2004 and continue through August 15, 2004. The payment structure of the final $2,500,000 is unchanged.
In 2004, the Company began licensing its Members Only(R) trademark, which is its only remaining trademark.
As a result of the trademark assets sale and the sale of the BP license, the Company has repaid a substantial portion of its indebtedness. The Company intends to finance its remaining operations through (i) royalties which the Company is due from the license of its Members Only trademark, (ii) payments of escrow funds due from the trademark assets sale and collection of the balance of proceeds from the sale of licensed trademark rights, (iii) continued reduction of the Company's overhead and, (iv) continued negotiated settlements with its other creditors.
There can be no assurance that the timing of cash receipts to be realized from working capital and operations will be sufficient to meet obligations as they become due. These factors raise substantial doubt about the Company's ability to continue as a going concern. The consolidated condensed financial statements do not include any adjustments relating to the recoverability and classification of asset carrying amounts or the amount and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.
RESULTS OF OPERATIONS
The Company reported a net loss of $1,940,000 for the three-month period ended March 31, 2004 compared to a net loss of $1,279,000 for the three-month period ended March 31, 2004.
During the three-months ended March 31, 2004, the Company's loss was attributable to a significant reduction in revenues as the result of the sale, in 2003, of the Company's XOXO trademark and licensing operations and its Baby Phat sub-license (see Note 2). In addition, the Company reserved $1,190,000 as an allowance against receivables from Adamson.
During the three-months ended March 31, 2003, the Company's loss was attributable to an increase in legal expenses, the write-off of previously recognized XOXO license royalties and a soft retail environment which affected sales at Adamson and negatively impacted the Company's royalty revenue.
ROYALTY INCOME - CONTINUING OPERATIONS
The Company's royalty income decreased from $2,116,000 during the three-months ended March 31, 2003 to $63,000 for the three-months ended March 31, 2004. This decrease was attributable to the sale, in 2003, of the Company's XOXO trademark and licensing operations and its Baby Phat sub-license (see Note 2).
SELLING AND ADMINISTRATIVE EXPENSES - CONTINUING OPERATIONS
Selling and Administrative expenses were $1,990,000 for the three-months ended March 31, 2004 as compared to $2,846,000 for the three-months ended March 31, 2003. Selling and Administrative expenses for the three-months ended March 31, 2004 were adversely affected by the sale, in 2003, of the Company's XOXO trademark and licensing operations and its Baby Phat sub- license (see Note 2). The Company's royalty revenue for the current quarter was derived only from its Members Only license. In addition, the Company reserved $1,190,000 as an allowance against receivables from Adamson. Selling and Administrative expenses for the three-months ended March 31, 2003 continued to be negatively impacted by legal expenses incurred in the Company's defense of various lawsuits, the abandonment in 2002 of three retail locations and the ongoing negotiations with its creditors to settle outstanding amounts due them. This was partially offset as the Company continued to benefit from Adamson's assumption of Grupo's responsibility for most of the Company's operating overhead.
DISCONTINUED OPERATIONS
Discontinued operations for the three-months ended March 31, 2003 include all sales, commissions, cost of goods sold and selling and administrative expenses recorded in connection with the Company's former retail operations.
INTEREST EXPENSE
Interest expense for the three-months ended March 31, 2004 was $13,000 as compared to $461,000 for the three-months ended March 31, 2003. This decrease was attributable to the
satisfaction of the Company's indebtedness under its credit facility and other interest bearing instruments in 2003.
------------------------------------------------------------------------ http://www.edgar-online.com/bin/edgardoc/glimpseFrame.asp?doc=A-100979-0000930413-04-002694&glm=1
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Learn the difference between a rollercoaster and a ROCKET!!
You lose some, you win some.
3 guy's sittin at .055 blocks of 5000
bouncing between .055 and .09
Moving too fast for my crappy L2
quote:
Originally posted by GREGDOGG:
NITE's back around .053 guy's sittin at .055 blocks of 5000
bouncing between .055 and .09
Moving too fast for my crappy L2
NITE is now at .07 on bid and on .085 on ask. L2's show a slight pullback maybe coming.
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Be blessed
crap
.06 bid (nite) .075 ask (nite)
[This message has been edited by WinsumLosesum (edited May 27, 2004).]
Consider it a VALUABLE lesson learned, look at the 1 year chart compared to when the 10Q came out.
If you saw the 10Q come out on the 20th you could have bought in then at .01 then rode the 10Q news untill .09 for a sell.
You just need a good news site or 10Q site.
Try 10QWizard, businesswire, marketwire, primezone, ect.
quote:
Originally posted by GREGDOGG:
WinsumLosesum,Consider it a VALUABLE lesson learned, look at the 1 year chart compared to when the 10Q came out.
If you saw the 10Q come out on the 20th you could have bought in then at .01 then rode the 10Q news untill .09 for a sell.
You just need a good news site or 10Q site.
Try 10QWizard, businesswire, marketwire, primezone, ect.
Valuable lesson is right.
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Be blessed
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Be blessed
quote:
Originally posted by GREGDOGG:
WinsumLosesum,Consider it a VALUABLE lesson learned, look at the 1 year chart compared to when the 10Q came out.
If you saw the 10Q come out on the 20th you could have bought in then at .01 then rode the 10Q news untill .09 for a sell.
You just need a good news site or 10Q site.
Try 10QWizard, businesswire, marketwire, primezone, ect.
GREGDOGG, is this a trading strategy that you use often?? If so, could you talk a little about what to look for in the 10Q and how successful the trading strategy is?
Thank you
I hope the same will happen with IBIZ next time because we all have waited for the jump to 0,08 or more ...(now it is at 0,02). Sometimes it will happen, but no one knows when ?!?!?
;-)
10Q for your input.
Seriously, thanks for the tips. But I can't find 10Qwizard. There's a 10k wizard. Is that what you meant? I think I'll just subscribe to FreeEdgar.
But if the 10Q came out a week ago, you don't think today had anything to do with that, do you?
Also, does anyone know what caused the spike in early November?
quote:
Originally posted by GREGDOGG:
WinsumLosesum,Consider it a VALUABLE lesson learned, look at the 1 year chart compared to when the 10Q came out.
If you saw the 10Q come out on the 20th you could have bought in then at .01 then rode the 10Q news untill .09 for a sell.
You just need a good news site or 10Q site.
Try 10QWizard, businesswire, marketwire, primezone, ect.
quote:
Originally posted by ludinlo:
SO WHO CALLED THIS STOCK. YOU ARE A GENIUS.
Ha, I don't think anyone can take credit for it StockMinister did start the post because he say movement.
I thank him for bringing it to my attention at 400% up but I was a bit skeptical to even put a bid in at .04 or .05. Boyyyyy Do I wish I did, I played with it a bit more in the dips but that was it.
How did everyone who played this today make out? Lets hear it, as we've already heard 700 this AM woulda been 8000 now.
Did anyone here actually catch it for a GOOD ride? I wanna hear about it
15cents!
quote:
Originally posted by Meshoe45:
This is UN REAL15cents!
My goodness.
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Be blessed
DO YOU HAVE ANYTHING SHOWING THIS WILL RISE UP AGAIN TOMMORROW
Ciao
--Keep your finger on the trigger tommorow, we know nothing of this stock, sell at first down turn and be happy with what you make! They don't go up for ever.
Good Luck.
-you may or may not want to think about keeping free shares with TRPL yesterday I doubled my money and kept a couple thousand shares-if it takes off, I'm in free and if it tanks.. oh well...
Keith
[This message has been edited by keithsan (edited May 27, 2004).]
quote:
Originally posted by keithsan:
Hit me, nice job getting in, I would've played to but playing a volatille one from work was impossible today, did it yesterday though.--Keep your finger on the trigger tommorow, we know nothing of this stock, sell at first down turn and be happy with what you make! They don't go up for ever.
Good Luck.
-you may or may not want to think about keeping free shares with TRPL yesterday I doubled my money and kept a couple thousand shares-if it takes off, I'm in free and if it tanks.. oh well...
Keith
[This message has been edited by keithsan (edited May 27, 2004).]
Hey - how do you all know when these are running? I want to get in before the run. I say nothing on AISI last night or early morning. Then BOOM! Is there anyway to know before this happens or at least When it is happening - instead of seeing it after it's all done? I would really like to jumb in - but a little gun shy. any advice?
look at volume
quote:
Originally posted by keithsan:
no secrets, TRPL I found on a screener and was keeping my eye on, saw the movement, this one, someone else spotted and posted!look at volume
what screener are you using? can I download it or go to a website?
quote:
Originally posted by StockMinister:
My goodness.
Hey Stockminister - where did you find this one? I am going to have to follow your picks more closely. I kind of wish you had put the first notice on the "HOT STOCKS FREE FOR ALL" topic.
Let me know how you find your picks - I am all ears!
Hey - what do you think this will do tomorrow?
quote:
Originally posted by filemon:
No, it's REAL
and it goes again much higher today !
WHY?????? do you think it will rise. What't the good news out there on AISI?
I read their last filling and, unless they have some very good news coming that we are not aware off, they are not doing well...they accumulate more deficit every year.
Malloy
Thanks for your time...
e2
e2
quote:
Originally posted by HitMe101:
It dipped...I did get out yesterday @.12 couple minutes before close,i'd put the order in & wasn't sure if it would go;I should've tryed for .15 LOL..anyway I'm debating on whether to take some of the profit & rebuy in?It's @ .06 now...C'mon guys tell me not to do it!!
GOOD PLAY,-- I would stay away and watch how it plays, went up on no news so I wouldn't expect a skyrocket up again,
Angry I missed this one seemed like a quick money play. Keep it up.
Keith