posted
52 week high is .21 Looks like it hit .07 in September '05. Float - 272m O/S - 294m No splits 3 month avg volume - 1.2m Today's volume: 57m Somebody knows something here. Conference call scheduled for this company on May 17. Maybe insiders were buying today, expectuing good news.
posted
been in.....sold this morning at .0165-.018 got back in for a slight profit.....yes, I expect to see .02 tomorrow! Hurricane plays are hot right now....ECCIE and NLST have been seeing alot of action as well
-------------------- GSUS - Eternal 100 Bagger! HCPC - my favorite potential into December
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imakmony2005
unregistered
posted
Wednesday May 10, 8:00 am ET
AUSTIN, Texas--(BUSINESS WIRE)--May 10, 2006--SmallCapVoice.com, Inc. today announced that questions from shareholders and other interested parties are now being accepted for an exclusive new audio interview and shareholder update at SmallCapVoice.com. The featured guests are Bruce Beattie, CEO of Sub-Surface Waste Management of Delaware, Inc. (OTCBB:SSWM - News) and Robert Brehm, CEO of U.S. Microbics, Inc. (OTCBB:BUGS - News) who will discuss the record breaking revenue of last quarter, answer questions and update listeners with late breaking news of the company's progress in Mexico. Please send in your questions now for the May 17 interview to ssmith*smallcapvoice.com. ADVERTISEMENT
Brehm stated, "Bruce and I welcome the opportunity to answer shareholder questions, provide the latest updates on our progress in Mexico and discuss future plans. We are quickly evolving from a small environmental services company to becoming a major economic and political resource, using pro-active environmental policy, to stimulate local employment, entice direct foreign economic investment, and create cleaner, healthier living conditions for the citizens of Mexico. Our long term goal is to capitalize on this new strategy by significantly enhancing future shareholder value while keeping shareholders informed of our vision, plans and progress."
About U.S. Microbics Inc.
U.S. Microbics is a business development and holding company that acquires, develops and deploys innovative environmental technologies for soil, groundwater and carbon remediation, air pollution reduction, modular drinking water systems and agriculture enhancement. For more information on the company, contact Robert Brehm at 760-918-1860 x102 or visit the website at http://www.bugsatwork.com.
About Sub-Surface Waste Management
Sub-Surface Waste Management Inc. is a majority owned subsidiary of U.S. Microbics, Inc. (OTCBB:BUGS - News) and provides comprehensive civil and environmental engineering project management services including specialists to design, permit, build and operate environmental waste clean-up treatment systems using conventional, biological and filtration technologies. SSWM is capitalizing on its patented technologies registered in Mexico with SEMARNAT, a Federal regulatory agency overseeing environmental compliance nationwide. For information on SSWM contact Bruce Beattie at 760-918-1860 x105 or visit their website at http://www.subsurfacewastemanagement.com.
Safe Harbor:
This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The risks and uncertainties that may affect the operations, performance development and results of the company's business include but are not limited to fluctuations in financial results, availability and customer acceptance of our products and services, the impact of competitive products, services and pricing, general market trends and conditions, and other risks detailed in the company's SEC reports.
Contact: SmallCapVoice.com Stuart T. Smith, 512-267-2430 info*Smallcapvoice.com
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imakmony2005
unregistered
posted
Form 10QSB for SUB SURFACE WASTE MANAGEMENT OF DELAWARE INC
ITEM 2 MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATIONS Statements included in this Management's Discussion and Analysis of Financial Condition and Results of Operations, and in future filings by the Company with the Securities and Exchange Commission, in the Company's press releases and in oral statements made with the approval of an authorized executive officer which are not historical or current facts are "forward-looking statements" and are subject to certain risks and uncertainties that could cause actual results to differ materially from historical earnings and those presently anticipated or projected. You are cautioned not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The following important factors, among others, in some cases have affected and in the future could affect the Company's actual results and could cause the company's actual financial performance to differ materially from that expressed in any forward-looking statement: (i) the extremely competitive conditions that currently exist in the market for companies similar to the Company and (ii) lack or resources to maintain the Company's good standing status and requisite filings with the Securities and Exchange Commission. The foregoing list should not be construed as exhaustive and the company disclaims any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events. The following discussion should be read in conjunction with our financial statements and their explanatory notes included as part of this prospectus.
The Company's wholly owned subsidiary, Sub Surface Waste Management, Inc., engages in developing, manufacturing and selling engineered remediation solutions for clean up of toxic waste releases to soil and/or groundwater and the bio-recycling of spent activated carbon filtration media. The treatments may be made directly to the contaminated soil or groundwater in the location at which the contamination was found ("in situ"), using wells and subsurface injection/extraction points to administer the Company's proprietary microbial blends for bioremediation of various waste streams, or the treatments may require excavation of contaminated soil or pumping of groundwater ("ex situ"), and washing activated carbon filtration media with microbes to Bio-recycle with the Company providing technical engineering consultation and microbial blends to its teaming partners and/or executing the work directly as a contractor.
The Company's plan of operation for the next 12 months is to complete the existing business in South Carolina and Mexico, and promote new projects in Mexico, through its Mexican subsidiary, Environmental Tech International,, SA DE CV, The Company opened its new office in the state of Puebla, Mexico in January of 2006.
SUB SURFACE WASTE MANAGEMENT OF DELAWARE, INC. AND SUBSIDIARY Notes To Consolidated Condensed Financial Statements March 31, 2006 (Unaudited) MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATIONS - continued
The company plans to close the remaining projects in South Carolina within the next 12 months or less.
In Mexico the company has retained the services of Dr. Richard Lorden of Lorden Y Asociados in Mexico City, Mexico to provide comprehensive sales consulting support to provide the company with additional opportunities to expand its revenues in Mexico. The company is currently involved with the development of several additional potential contracts in Mexico.
In December of 2005, the Company signed a contract with the state of Puebla to investigate 3 contaminated sites. The contract amount was approximately $375,000. In March 2006, the Company billed and collected an additional 25% or a payment of $89,400, making a total billed and collected for the six months ending $269,896.
The company remains teamed with its technology licensee Grupo Bartlett, S.A. de C.V. to execute work in Mexico using its registered technology with SEMARNAT (Mexico EPA).
Additional capital must be raised to fund existing and new projects, support overhead expenses. During the next 12 months, the Company's foreseeable cash requirements are approximately $5,000,000 to implement its business plan to expand and participate in the environmental cleanup business in Mexico. The company most likely needs to issue additional common or preferred stock, which will have a dilutive effect on current shareholders, in order to raise all or a portion of the the necessary capital to continue and expand its operations. However, the company continues to explore opportunities to license its technology to international end-users and would use any received licensing fees to reduce or eliminate short-term issuance of additional common or preferred stock of the company.
RESULTS OF OPERATIONS
For The Six Month and Three Months Ended March 31, 2006 Compared To The Six and Three Months Ended March 31, 2005.
The Company had revenues of $367,420, and $305,114 during the six months and three months ended March 31, 2006, an increase of 18% and 23%, respectively as compared to $312,462 and $248,381 of revenue for the same period in 2005. Revenues for the six months, and three months ended March 31, 2006 consisted primarily of engineering services, construction, and bio-remediation of hydro-carbons in contaminated soil for projects in Mexico. Gross profit for the six months and three months ended March 31, 2006 was $115,775 and $143,214 or 31% and 46% of sales compared to $138,591 and $132,075 or 44% and 53% of sales for the corresponding period in fiscal 2005. The increase in revenue is due primarily to the contracts for the State of Puebla, Mexico. Lower gross profit percentages were primarily due to labor costs, and job related travel expenses.
Selling, general and administrative ("SG&A") expenses for the six months and three months ended March 31, 2006 totaled $1,216,411 and $761,549 respectively, compared to $747,660, and $360,110 for the same periods in fiscal 2005. SG&A expenses for the six months, and three months ended March 31, 2006 consisted of occupancy, payroll, accounting, and consulting services. The 62% increase and the 111% increase in SG&A expenses are attributed to licensing agreement fees, consulting expenses related to increases in contracts with an affiliate, consulting fees related to projects in Mexico, a $50,000 increase in legal fees, and commission expenses.
The Company incurred a net loss of $1,137,013 and $632,295, for the six months, and three months ended March 31, 2006, had negative cash flows from operations of $526,147 for the six months ended March 31, 2006 compared to a net loss of $681,446, and $259,463 for the six months, and three months ended March 31,2005, had negative cash flows from operations of $691,624 for the six months ended March 31, 2005. Basic and diluted net loss per share was $(0.02) and $(0.01) for the six months, and three months ended March 31, 2006, respectively, compared to a loss of $(0.02) and $(0.01) for the six months, and three months ended March 31, 2005.
SUB SURFACE WASTE MANAGEMENT OF DELAWARE, INC. AND SUBSIDIARY Notes To Consolidated Condensed Financial Statements March 31, 2006 (Unaudited) MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATIONS - continued
As of March 31, 2006, the Company had an accumulated deficit of $ 12,879,089 compared to $10,795,802 as of March 31, 2005. The shareholders equity as of March 31, 2006 was $701,272 compared to $552,965 as of September 30, 2005.
The Company is anticipating that revenues in fiscal 2006 will exceed revenues for fiscal 2005 through expansion of its operations in Mexico. Although based on the current financial condition of the Company, additional capital will be required in order for the Company to maintain its ongoing operations.
Liquidity And Capital Resources.
Cash totaled $155,531 as of March 31, 2006. During the six months ended March 31, 2006, the Company raised $150,000 net of $5,000 placement fees from issuance of 4,150,000 shares of restricted and unrestricted common stock, including the sale of 150,000 shares of unrestricted common stock to Fusion Capital Fund II, LLC.
As of March 31, 2006 the Company had working capital of $528,002, compared to a working capital of $194,594 as of March 31, 2005. Current assets as of March 31, 2006 of $1,287,501 include $670,105 due from affiliates compared to current assets of $1,149,652 included $553,445 due from affiliates for the period ended March 31, 2005.
To date, the Company has financed its operations principally through private placements of equity securities and debt. The Company believes that it will raise sufficient cash to continue its operations through September 30, 2006, and anticipates that cash generated from anticipated private placements and projected revenues during the next quarter of fiscal 2006 will enable it to fulfill cash needs for 2006 operations.
The Company has approximately $5,885.000 remaining to be used on its equity financing agreement with Fusion Capital. However, in order to use this financing, the stock price must be $0.10 or better for a specified period of time.
There can be no assurance that additional private or public financing, including debt or equity financing, will be available as needed, or, if available, on terms favorable to the Company. Any additional equity financing may be dilutive to shareholders and such additional equity securities may have rights, preferences or privileges that are senior to those of the Company's existing common or preferred stock. Furthermore, debt financing, if available, will require payment of interest and may involve restrictive covenants that could impose limitations on the operating flexibility of the Company. The failure of the Company to successfully obtain additional future funding may jeopardize the Company's ability to continue its business and operations.
The independent auditors report on our September 30, 2005 financial statements included in the Form 10-KSB states that our difficulty in generating sufficient cash flow to meet its obligations and sustain operations raise substantial doubts about the ability to continue as a going concern.
Equity Financing
The Company has obtained financing in the form of equity in order to provide the necessary working capital. On June 10, 2004, we entered into a Common Stock Purchase Agreement with Fusion Capital Fund II, LLC ("Fusion") a Chicago-based institutional investor. Under terms of the agreement, Fusion has agreed to purchase from the company up to $6.0 million of our common stock over a 24-month period. Since the Securities & Exchange Commission declared effective a registration statement covering the securities issued or issuable to Fusion on November 9, 2004, each month the company has the right to sell to Fusion up to $250,000 of its common stock at a purchase price based upon the market price of the company's common stock on the date of each sale without any fixed discount to the market price. The company's may also require Fusion to purchase lesser or greater amounts of its common stock each month up to $6.0 million in the aggregate. The company has the right to control the timing and the amount of stock sold to Fusion Capital. The company has the right to terminate the agreement at any time without any additional cost. The company also has the right, at its election to enter into a new agreement with Fusion Capital under which Fusion would be required to purchase up to an additional $6.0 million of the company's common stock on the same terms and conditions as the original agreement.
SUB SURFACE WASTE MANAGEMENT OF DELAWARE, INC. AND SUBSIDIARY Notes To Consolidated Condensed Financial Statements March 31, 2006 (Unaudited) The company has relied mostly on cash infusions from its parent company, U.S. Microbics, Inc., and the sale of its common stock during the first six years of its existence. Its parent company has limited resources and may not be able to continue to provide sufficient funds for SSWM to successfully continue its operations.
There can be no assurance that the company will generate revenues from operations or obtain sufficient capital on acceptable terms, if at all. Failure to obtain such capital or generate such operating revenues would have an adverse impact on the company's financial position and results of operations and ability to continue as a going concern.
The company's operating and capital requirements during the next fiscal year and thereafter will vary based on a number of factors, including: (i) the rate at which microbial products are shipped and generate profits; (ii) the necessary level of sales and marketing activities for environmental projects; and (iii) the level of effort needed to develop additional distribution channels to the point of commercial viability.
There can be no assurance that additional private or public financing, including debt or equity financing, will be available as needed, or, if available, on terms favorable to the company. Any additional equity financing may be dilutive to shareholders and such additional equity securities may have rights, preferences or privileges that are senior to those of the company's existing Common or Preferred Stock. Furthermore, debt financing, if available, will require payment of interest and may involve restrictive covenants that could impose limitations on the operating flexibility of the company. The failure of the company to successfully obtain additional future funding may jeopardize the company's ability to continue its business and operations.
The independent auditor's report on the company's September 30, 2005 financial statements included in this Annual Report states that the company's recurring losses raise substantial doubts about the company's ability to continue as a going concern.
Promissory Note
In addition, on August 4, 2004, the company entered into a loan agreement and convertible promissory note with Fusion Capital to borrow $200,000 at annual interest rate of 10%. The maturity date of the Note is January 31, 2005, and may be redeemed by us at any time, but subject to Fusion Capital's right to convert any outstanding principal and accrued interest due into our common shares. Prior to the maturity date, the Note shall convert at $0.25 per share. After the maturity date, the Note shall convert at a price equal to the lesser of (i) 50% of the average of the three (3) lowest closing sale prices of the common shares during the twelve (12) trading days prior to the submission of a conversion notice or (ii) $0.25 per share. In connection with the Note, Fusion Capital was issued 250,000 warrants with an exercise price of $.275 per share. If the Note is converted immediately prior to the maturity date, the company would issue approximately 840,000 shares of our common stock to Fusion Capital, including interest as of the maturity date, in addition to 250,000 shares of our common stock upon exercise of the Warrants issued to Fusion Capital pursuant to the Note. If the Note is converted after the maturity date, the company may issue more than 840,000 shares of our common stock to Fusion Capital, including interest as of the conversion date. The company has registered up to 1,500,000 in connection with the conversion of the Note to preserve its option to utilize its cash resources for purposes other than paying down the Note.
From and after the maturity date or after the occurrence of an event of default under the Note, the interest rate shall be increased to fifteen percent (15%) and shall be calculated in accordance with the terms of the Note. At any time after the maturity date, the company shall redeem Note for cash equal to 125% of the outstanding principal plus accrued interest. As of June 30, 2005 the note is in default.
The Company will continue to need additional capital to continue its operations and will endeavor to raise funds through the sale of equity shares and revenues from operations. There can be no assurance that the Company will obtain sufficient capital or generate revenues on acceptable terms, if at all. Failure to obtain such capital or generate such revenues would have an adverse impact on the Company's financial position and results of operations and ability to continue as a going concern.
SUB SURFACE WASTE MANAGEMENT OF DELAWARE, INC. AND SUBSIDIARY Notes To Consolidated Condensed Financial Statements March 31, 2006 (Unaudited) Any additional equity financing may be dilutive to shareholders and such additional equity securities may have rights, preferences or privileges that are senior to those of the Company's existing common or preferred stock. Furthermore, debt financing, if available, will require payment of interest and may involve restrictive covenants that could impose limitations on the operating flexibility of the Company. The failure of the Company to successfully obtain additional future funding may jeopardize the Company's ability to continue its business and operations.
The Company's operating and capital requirements during the next fiscal year and thereafter will vary based on a number of factors, including: (i) the rate at which microbial products are shipped and generate profits; (ii) the necessary level of sales and marketing activities for environmental projects; and (iii) the level of effort needed to develop additional distribution channels to the point of commercial viability.
Risks And Uncertainties
This Report contains 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. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Forward-looking statements usually contain the words "estimate," "anticipate," "believe," "expect," or similar expressions, and are subject to numerous known and unknown risks and uncertainties. In evaluating such statements, prospective investors should carefully review various risks and uncertainties identified in this Report, including the matters set forth under the captions "Risk Factors" and in the Company's other SEC filings. These risks and uncertainties could cause the Company's actual results to differ materially from those indicated in the forward-looking statements. The Company undertakes no obligation to update or publicly announce revisions to any forward-looking statements to reflect future events or developments.
Impact of Inflation
The effect of inflation on the Company's revenue and operating results was not significant. The Company's operations are located in North America and there are no seasonal aspects that would have a material effect on the Company's financial condition or results of operations.
Off-Balance Sheet Arrangements
The Company does not maintain off-balance sheet arrangements not does it participate in non-exchange traded contracts requiring fair value accounting treatment.
IP: Logged |
imakmony2005
unregistered
posted
The Company has approximately $5,885.000 remaining to be used on its equity financing agreement with Fusion Capital. However, in order to use this financing, the stock price must be $0.10 or better for a specified period of time.
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posted
although that paragraph sounds good, read the two after it in that release...doesn't sound too good...
The Company has approximately $5,885.000 remaining to be used on its equity financing agreement with Fusion Capital. However, in order to use this financing, the stock price must be $0.10 or better for a specified period of time.
There can be no assurance that additional private or public financing, including debt or equity financing, will be available as needed, or, if available, on terms favorable to the Company. Any additional equity financing may be dilutive to shareholders and such additional equity securities may have rights, preferences or privileges that are senior to those of the Company's existing common or preferred stock. Furthermore, debt financing, if available, will require payment of interest and may involve restrictive covenants that could impose limitations on the operating flexibility of the Company. The failure of the Company to successfully obtain additional future funding may jeopardize the Company's ability to continue its business and operations.
The independent auditors report on our September 30, 2005 financial statements included in the Form 10-KSB states that our difficulty in generating sufficient cash flow to meet its obligations and sustain operations raise substantial doubts about the ability to continue as a going concern.
do your DD
-------------------- Eat, Drink, and Be Merry
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imakmony2005
unregistered
posted
Im thinking buy back in progress, They got the cash, Very high volume, Take it passed .10. HMM
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posted
This is a shakerzzz play, and while all the reasons for volume that you guys are finding may be valid, the real reason this is flying is because the momentum players are in. It's a good chance to make cash, just be careful of the dump. I'm not bashing, just informing. I may get in tomorrow myself.
-------------------- "I will smack you in the mouth, I'm Neil Diamond"- Will Ferrell
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posted
Doni- Shakerzzz pumped this? Dang. Any idea wha time he started pumping it? Must have been late in the day. If your right than this will tank after the gap.
posted
Should I sell out and cut my losses before it plumits?
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imakmony2005
unregistered
posted
IF THATS THE CASE THAN BUY NOW AT .0165.
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imakmony2005
unregistered
posted
This is as low as i have seen and if its a group play like donboy says than there screwed cuz its right where they got it at.BUY, IMO
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imakmony2005
unregistered
posted
Ok i risked it in deep now up, cost avg .0150 run.
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