posted
Hi... I hate my first post to be a downer, but has anyone read the SEC filings on this? The p/l looks good, operating is down, revenue up, but there's a sabertooth in the underbrush that makes this an iffy hold. The leases are accounted for as liabilities in the 10Q, but the defaults are just hanging out there:
Item 3. Defaults Upon Senior Securities
In the first quarter of 2006 all of the Series 2000 Convertible Promissory Notes became due and are now in default. The total principal and interest due at March 31, 2007 is $3,399,966. The Company is formulating a plan to seek extensions of these notes. No collection action has been taken to date.
In addition to the above leases that are subject to litigation, there are four leases, with a recorded liability of $198,620, that are in default. As required by U.S. Generally Accepted Accounting Principles, the principal balance of the leases that are in default have been classified as current liabilities.
-------------------- Opinions are not facts. Never, ever, ever, fall in love with a stock. Posts: 146 | From: canada | Registered: Aug 2007
| IP: Logged |
posted
Itronics Increases Second Quarter 2007 Sales by 11 Percent; First Half Sales Up 24 Percent via COMTEX
August 15, 2007
RENO, Nev., Aug 15, 2007 /PRNewswire-FirstCall via COMTEX News Network/ --
Itronics Inc. (OTC Bulletin Board: ITRO; Frankfurt and Berlin Stock Exchanges: ITG) has filed its second quarter 2007 report on Form 10QSB, which is now available on the Securities and Exchange Commission web site at sec.gov. The Company reported sales increases of 11 percent for the quarter ended June 30, 2007 and 24 percent for the first six months of 2007 compared to 2006 results.
Key accomplishments for the quarter were a 487 percent increase in liquid photowaste volume, completion of a draft label for GOLD'n GRO Guardian, preparation and submittal of product samples to a laboratory for toxicity and physical property measurements, and negotiation of an agreement to enter into a long term supply arrangement with a foreign manufacturer of the repelling ingredient used in GOLD'n GRO Guardian, a deer repellant.
The increase in used photochemical volume was more than sufficient to supply raw materials for GOLD'n GRO fertilizer manufacturing in the quarter. Completion of the listed steps in preparing to register GOLD'n GRO Guardian with the U.S. Environmental Protection Agency means that Itronics is on schedule to complete the registration process in early 2008. Arranging for supply of a key ingredient is an important step in preparation for manufacturing and sale of GOLD'n GRO Guardian, expected to begin in the second quarter 2008. GOLD'n GRO Guardian deer repellent fertilizer is expected to produce the next major sales expansion for Itronics.
Goals outlined for the balance of 2007 are to continue the steady expansion of GOLD'n GRO liquid fertilizer sales and silver sales; increase the number of photowaste service customers to continue expansion of photochemical raw material supply; continue to advance registration of GOLD'n GRO Guardian liquid animal repellant fertilizer; and continue to acquire financing to support growth, all being implemented pursuant to Itronics eight-part, five-year business plan that was summarized in a press release on June 3, 2005.
Silver production increases expected in the second quarter were not achieved due to repeated damage to the refining furnaces because of electrical power surges from the power grid supplying the Company's factory. The Company is working with its electrical power supplier to correct the problem. Meantime, the planned expansion of the refinery is continuing. The Company's silver inventory increased in the second quarter and will continue to increase until the power supply problem is solved. Stable silver output is expected for the rest of the year. Silver is continuing to trade in the price range of $12.50 to $13.50 per troy ounce. These prices, which are about 10 percent higher than in 2006, are benefiting silver sales.
Photo Service revenues more than doubled in the second quarter and the Company continued discussions with photowaste service businesses to acquire additional supplies of photochemical raw material for fertilizer manufacturing. Early in the third quarter the Company shipped a photochemical concentrator to a customer, and replacement parts to another customer. Sales for this segment are expected to be up by more than 600 percent in the third quarter 2007 compared to the same quarter in 2006.
Mining Technical Services were stable at a low level in the second quarter while this division continued to advance its web based http://www.InsideMetals.com Gold Producer Stocks information portal. The Company launched an advertising campaign to junior gold and mineral exploration companies late in the second quarter which is expected to identify new technical services opportunities and could start generating advertising revenue in the third quarter.
Operating loss increased 37 percent compared to the prior year, principally due to a combination of the effects of the reduced silver sales and increased sales and marketing expenses. Net loss increased due primarily to a large swing in non cash "loss on derivative instruments" calculated and reported as required by current accounting standards
Results for the three and six months ended June 30, 2007, together with comparative figures for 2006 are summarized below:
ITRONICS INC. For the Quarter For the 6 Months Ended June 30 Ended June 30 2007 2006 2007 2006 REVENUE Fertilizer $752,694 $660,206 $1,169,749 $900,275 Silver $52,050 $88,397 $120,897 $160,742 Photo Services $42,646 $17,960 $87,978 $37,357 Mining Technical Services $1,675 $1,460 $6,628 $21,911 Total Revenues $849,065 $768,023 $1,385,252 $1,120,285 Gross Profit (Loss) $118,529 $139,811 $134,782 $133,046 Operating Income (Loss) ($615,102) ($449,934) ($1,285,139) ($1,008,331) Other Income (Expense) (including interest) ($309,361) ($262,256) ($250,078) ($489,324) Gain (Loss) on Derivative Instruments (non cash item related to financing) ($311,142) $986,137 ($168,753) $1,492,406 Net Income(Loss) ($1,235,605) $273,947 ($1,703,970) ($5,249) Net Income(Loss) Per Share ($0.003) $0.001 ($0.005) $- Average Weighted Outstanding Shares 374,749,000 213,590,000 366,715,000 206,315,000 About Itronics
Itronics, through its subsidiary, Itronics Metallurgical, Inc., is the only company in the world with a fully permitted "Beneficial Use Photochemical, Silver, and Water Recycling" plant located in the United States which can convert used photoliquids into pure silver and liquid fertilizers. At the Company's Reno, Nevada factory more than 99 percent of the silver and virtually all the other toxic heavy metals are extracted from used photoliquids. The purified liquids are converted into environmentally beneficial, chelated, micronutrient and multinutrient liquid fertilizers sold under the GOLD'n GRO trademark. The silver is refined and sold as bullion and 5 troy ounce, 0.999 pure, Silver Nevada Miner numismatic bars. The environmentally friendly liquid fertilizers can be used for lawns and houseplants, and are available, along with GOLD'n GRO liquid fertilizer injectors, at the Company's "e-store" catalog at http://goldngro.com . The popular Silver Nevada Miner bars are available at the Company's 'e-store' catalog at http://www.itromet.com .
Headquartered in Reno, Nevada, Itronics Inc. is a "Creative Environmental Technology" company and a world leader in photochemical recycling. The Company also provides project planning and technical services to the gold mining industry and operates the popular InsideMetals.com web site, http://www.insidemetals.com. which provides a value-added WORLD VIEW of Gold Producer Stocks and Junior Gold Stocks. Itronics has received numerous domestic and international awards that recognize its ability to successfully create and implement new recycling and fertilizer technologies
Posts: 75 | From: Hampton | Registered: Sep 2006
| IP: Logged |
posted
This stock returned an 85% gain off of the price it is at right now late last week. This PPS is to low and it's a bottom in my opinion. I'm back in at .0069
-------------------- Nothing moves a sub like news!!! Posts: 3346 | From: Leominster,MA,US | Registered: Jul 2003
| IP: Logged |
posted
Thats it I'm out .0061 will be an all time low here, but I assume that the MM who is taking this down read the board and brought it down to screw me so they win, but it will be the last time I share my buying or selling price here!
-------------------- Nothing moves a sub like news!!! Posts: 3346 | From: Leominster,MA,US | Registered: Jul 2003
| IP: Logged |
quote:Originally posted by retiredat49: DOMS HAS been either shorting or dumping this one for a while now...I warned of this 3 days ago...
Well we now have DOMS on the BID at .0061 after they drove it down here on short volume, so what does that tell you?
What we have here today is a confirmed double bottom of an all time low, and if it trades even one share at .0061 that will be a new all time low.
The revs are up the cash on hand is up and the asset values are up.
Any dilution on this stock is minimal per their year over year filings.
and now we have a spread of .0061 x .0068 and I see that as a means to slow down trading in an effort to take it lower, but that does not always work, and it could also mean that somebody wants all the shares between the bid and ask!!!
-------------------- Nothing moves a sub like news!!! Posts: 3346 | From: Leominster,MA,US | Registered: Jul 2003
| IP: Logged |
posted
AXcess News: Solid Earnings Overlooked in Market Selloff via COMTEX
August 17, 2007
HOUSTON, TX, Aug 17, 2007 (MARKET WIRE via COMTEX News Network) --
Global markets took a beating over growing credit concerns in Europe and the United States with many stocks hit hard despite solid earnings results.
Reno-based Itronics, Inc. (OTCBB: ITRO) reported an 11 percent increase in second-quarter sales while Royal Gold (NASDAQ: RGLD) reported record results for the year, yet both companies' shares weren't reflecting those results.
Itronics, which manufactures five-ounce silver bars from recycled photochemicals, reported an 11 percent increase in sales for the quarter ending June 30, 2007 and 24 percent increase for six-months.
Royal Gold reported a 76 percent increase in royalties for the fourth-quarter ending June 30, 2007, which was a new record for the Denver-based company.
Itronics noted that photochemical waste volume shot up nearly 500 percent in the period. The Company manufactures environmentally friendly liquid fertilizers from the fluids, removing the heavy metals in the process which silver is then extracted from. The higher its raw material resources the more silver concentrate recovered and the greater amount of GOLD'n GRO brand liquid fertilizer is manufactured, which is why the Company's sales have been on the rise for the last three quarters.
Royal Gold's chief executive, Tony Jensen, credited the company's growth to higher metals prices and its royalty acquisition program.
While both companies saw strong results, lagging silver and gold prices over the past week only slightly improved Friday, mostly due to the spill over in market sentiment that sent stocks tumbling worldwide as credit worries infected Wall Street until this morning when the Fed cut direct loan rates to banks a half point, helping lift stocks near the close of the trading session.
Note to Editors: "News Features" are stories provided to publishers copyright-free for print or online display at no charge. All we ask is that publishers include our byline (AXcess News) as the source, and a link to our Web site: http://www.axcessnews.com. If you are interested in displaying our news on a regular basis, please contact our editorial department at: 502-868-9007.
This prospectus relates to the resale by the selling stockholders of up to 75,000,000 shares of our common stock, par value $.001 per share, issuable upon conversion of secured convertible notes acquired by the selling stockholders in our July 15, 2005, our July 31, 2006, our November 3, 2006, our January 11, 2007, and our March 7, 2007 private offerings. The secured convertible notes are convertible into our common stock at the lower of $0.10 or at a discount of 45% to the average of the three lowest intraday trading prices for the common stock on a principal market for the 20 trading days before but not including the conversion date. The selling stockholders may sell common stock from time to time in the principal market on which the stock is traded at the prevailing market price or in negotiated transactions. The selling stockholders may be deemed to be underwriters of the shares of common stock, which they are offering. We will pay the expenses of registering these shares.
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
![[Big Grin]](biggrin.gif)
