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SPONGETECH DELIVERY SYSTEMS (OTCBB: SPNG)
Detailed Quote: http://www.otcpicks.com/quotes/SPNG.php
Company Profile: http://www.otcpicks.com/spongetech/spongetech.htm
SpongeTech Delivery Systems is a production stage company which designs, produces, markets and distributes cleaning products for vehicular use utilizing patented technology relating to sponges containing hydrophilic (liquid absorbing) foam polyurethane matrices. The Company's sponges are specially configured with an outer contact layer and an inner matrix, which is loaded with specially formulated soaps and wax that are released when the sponge is applied to a surface with minimal pressure. The Company's products are currently designed specifically for vehicular cleaning use. However, the Company is exploring the possibility of using its patented technology for the development of sponges for other uses, including for use with anti-bacterial, bath and kitchen soaps for household uses, as well as for use as a children's bath foam sponge.
SPNG News:
February 22 - SpongeTech Delivery Systems to be Featured on MoneyTV
MoneyTV, a nationally syndicated television program all about money and what makes it happen, will be featuring Spongetech Delivery Systems, Inc. (OTCBB: SPNG | news | PowerRating | PR Charts ) CEO Michael Metter next week. On the program, Mr. Metter announces substantial sold orders for SpongeTech's polymer auto wash sponge product.
MoneyTV is broadcast to 45 million TV homes in Western Europe, Wednesdays at 5:00 PM, on UPN-TV in the Virgin Islands and Puerto Rico Sundays at 8:00 AM and is also available in Thailand on the Broad TV Network.
A complete menu of TV listings is available at www.moneytv.net. Those interested can also contact SpongeTech Investor Relations at 1-877- SPONGE T or visit the company Web site at www.spongetech.com.
Publisher's Note:
Spongetech Delivery Systems is up to $.048 after we announced our profile for them on 1/29 at $.20 for a gain of 140% so far.
I spoke to the COO, Steven Moskowitz late last week and while he did not give me specific numbers, he said that the new advertising they are doing on cable channels is doing very, very well. They had a very large boost in sales their first week of their ads running and their ten person phone bank they set up to field the incoming calls from the commercials is staying very busy.
This is great news from the company. Their ads are producing very good incremental revenues, and the company is shipping all their order backlog on schedule with no production and supply delays.
The company has somewhere in the neighborhood of $16M in order backlog now excluding the orders they have already shipped this year and their online and new ad sales numbers. So, if they receive very few new distribution or retail orders for the rest of the year it looks like they could easily do $20M+ this year which is a huge increase over 2007.
We like SPNG a lot and think the stock is poised to continue it's upward march in the coming days and weeks.
Do your homework and take a look at SPNG today!
SPAR GROUP INCORPORATED (NASD: SGRP | news | PowerRating | PR Charts ) "Up 25.00% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/SGRP.php
SPAR Group, Inc., together with its subsidiaries, supplies merchandising and other marketing services in the United States and internationally. It provides merchandising services, as well as specific in-store services, including new store openings, new product launches, special seasonal or promotional merchandising, focused product support, and product recalls. It also offers in-store event staffing, product sampling, radio frequency identification services, technology services, and marketing research services. SPAR Group provides these services primarily on behalf of consumer product manufacturers and retailers at mass merchandisers, electronics store chains, drug store chains, and grocery stores. Its customers include home entertainment, general merchandise, health and beauty care, consumer goods, and food products companies. SPAR Group also has operations in Japan, Canada, Turkey, South Africa, India, Romania, China, Lithuania, Latvia, Australia, and New Zealand. The company was founded in 1967 and is headquartered in Tarrytown, New York.
SGRP News:
February 25 - SPAR Group Reports Fourth Quarter and Year-End 2007 Financial Results
SPAR Group, Inc. (NASD: SGRP | news | PowerRating | PR Charts ) reported financial results for the fourth quarter and year ended December 31, 2007.
For the fourth quarter of 2007, the company recorded net income of $1.5 million, equal to $0.08 per diluted share, compared with a net loss of $105,000, or $0.01 per share, for the same period in 2006. Net revenues rose 16% to $18.4 million from $15.8 million for the fourth quarter of 2006.
Operating income for the 2007 fourth quarter increased to $1.4 million, compared with an operating income of $11,000 in the corresponding period last year. Selling, general and administrative expenses for the 2007 fourth quarter were reduced to $5.1 million from $6.0 million a year ago, a decrease of 15%.
"We continue to show strong revenue growth in our international operations and are in the initial stages of executing on our new strategy to grow domestic revenues," said Gary Raymond, SPAR Group's president and chief executive officer. "Even in these early stages, we have seen an increase in domestic revenues that we will work to grow in the coming year. We will continue to focus on acquiring new clients in 2008, in addition to cost containment both domestically and internationally.
"As the world retail market becomes increasingly competitive, we see many opportunities in the near and long term for our services to help existing and potential clients differentiate themselves in crowded retail markets," Raymond said.
For the year ended December 31, 2007, revenues advanced 6% to $60.7 million from $57.3 million for the prior year. SPAR Group recorded a 2007 net loss of $2.5 million, equal to $0.13 per share, compared with a net loss of $621,000, or $0.03 per share, for 2006. The operating loss for 2007 was $2.0 million, compared with an operating loss of $724,000 in 2006. Selling, general and administrative expenses for 2007 amounted to $20.5 million, compared with $19.8 million a year ago.
Robert G. Brown, chairman of the board, added, "We are pleased with the progress that Gary Raymond has been able to make during the short time he has headed the company. Under his leadership, we will continue to refine and develop our services based on our customers' needs and look forward to strengthening our partnerships in the United States and abroad."
Revenues in the U.S. for the fourth quarter of 2007 increased to $9.4 million from $8.7 million in the same period last year. Net income for its U.S. operations in the fourth quarter of 2007 was $1.8 million, compared with net income of $160,000 for the fourth quarter of 2006.
For the year ended December 31, 2007, revenue in the U.S. was $29.4 million, compared with $34.1 million in 2006. Revenues in the U.S. in 2006 included $770,000 from the termination of a customer service agreement during the first quarter. The company posted a net loss of $1.5 million from its U.S. operations for 2007, compared with net income of $9,000 for 2006. Included in U.S. net income for 2006 was approximately $1.0 million, consisting of $100,000 from a favorable judgment award after related legal expenses, $770,000 from the termination of a customer service agreement and $175,000 from the settlement of a vendor lawsuit.
International revenues for the fourth quarter 2007 advanced to $9.0 million from $7.1 million last year. The International division posted a net loss for the 2007 fourth quarter of $359,000, compared with a net loss of $265,000 for the same period last year.
International revenues for the full year 2007 increased to $31.3 million from $23.2 million for the prior year. Included in the 2006 revenue was an additional quarter of revenue, totaling approximately $1.3 million, associated with the change to the reporting year of the company's joint venture in Japan. The international division posted a net loss of $979,000 for 2007, compared to a net loss of $630,000 for 2006.
VARSITY GROUP INCORPORATED (NASD: VSTY | news | PowerRating | PR Charts ) "Up 25.00% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/VSTY.php
Varsity Group, Inc. provides outsourcing solutions for the education institutions in the United States. Its solutions include online textbook, school supplies, and school uniform services. The company offers its solutions to private K-12 schools, colleges, and distance and continuing education markets under the brands Varsity Books and Campus Outfitters. Its eduPartners program is an online bookstore solution that focuses on meeting the needs of private middle and high schools. The company also provides ecommerce solutions for school's textbook procurement operations. Varsity Group, through the Campus Outfitters brand, sells school uniforms to the private K-12 school marketplace at retail locations in Indiana, Maryland, Michigan, North Carolina, New York, Ohio, Texas, and Virginia. It also offers its products through retail stores. The company, formerly known as, VarsityBooks.com, was founded in 1997. Varsity Group is headquartered in Fairfax, Virginia.
VSTY News:
February 25 - Varsity Group Inc. to Be Acquired by Follett Corporation in an All-Cash Transaction for $0.20 per Share
Varsity Group Inc. (NASD: VSTY), a provider of online textbook sales and services to educational institutions nationwide, today announced that it has entered into a definitive merger agreement with a subsidiary of Follett Corporation, the nation's largest provider of library materials and library technology to K-12 schools, the leading operator of college bookstores and a major distributor of textbooks to institutions at all levels of education. Pursuant to the merger agreement, Follett will acquire all outstanding shares of Varsity Group for $0.20 per share in cash.
A tender offer to acquire all issued and outstanding shares of Varsity Group at a price of $0.20 in cash is expected to commence in the next two weeks. The tender offer is subject to a number of closing conditions and is presently expected to close in the second quarter of 2008. The Board of Directors of Varsity Group has unanimously approved the transaction and has recommended that Varsity Group stockholders accept the offer and tender their shares of Varsity Group pursuant to the offer.
"Completing this transaction will significantly enhance Varsity Group's ability to support our school customers and grow the business," said Eric J. Kuhn, chairman and co-founder of Varsity Group. "By combining Varsity Group's virtual bookstore expertise with Follett's distribution capabilities and understanding of the K-12 marketplace, our customers will receive superior customer service and fulfillment."
"As a pioneer in the online sales of textbooks, Varsity Group has established a solid virtual bookstore presence that will help us accelerate Follett's growth in this market," said Christopher D. Traut, president and chief executive officer of Follett Corporation. "In addition to our extensive involvement in serving K-12 schools and school districts, Follett manages the ecommerce needs for more than 900 colleges and universities across the country. We intend to leverage all of this expertise to enhance Varsity Group's level of value and service to customers."
Varsity Group also announced that an affiliate of Follett purchased Bank of America's interest in Varsity Group's line of credit. There are currently approximately $1.8 million of advances outstanding under the line of credit. In connection with this funding arrangement, Varsity Group has granted a warrant to an affiliate of Follett to acquire shares of Varsity Group common stock equal to the total advances made under the line of credit divided by the exercise price of $0.20 per share, subject to adjustment.
As of the date of the agreement, all the directors of Varsity Group and certain other stockholders, who in the aggregate hold approximately 20 percent of the outstanding shares, have agreed to support the merger and tender their shares in the tender offer. If the merger agreement is terminated under certain circumstances, Varsity Group will be obligated to pay a termination fee and expenses to the Follett subsidiary.
McDermott Will & Emery LLP served as legal advisor to Follett, and Latham & Watkins LLP represented Varsity Group.
SCENARIO SYSTEMS INTERNATIONAL (OTC: SSII | news | PowerRating | PR Charts ) "Up 26.67% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/SSII.php
Scenario Systems International (SSII) helps clients transform their IT to better support a high performing business. The company delivers measurable business value from a full range of innovative technology and consulting solutions. SSII personnel have years of experience helping clients around the world use their IT investments to drive innovation, productivity and growth to achieve higher performance. SSI's experienced integration professionals have been involved in some 50 engagements with Fortune 1000 companies that have driven upwards of $500M in synergy savings. Our professionals combine extensive hands-on experience with relevant industry and implementation backgrounds that averages over 20 years of experience per consultant.
SSII News:
February 25 - Scenario Systems International Inc. Announces Record Annual Revenue Growth by 890% While Company Profits Increase by Over 2030% From the Previous Year
Scenario Systems International (OTC: SSII | news | PowerRating | PR Charts ) announced that its annual revenues from the fiscal year ending December 31, 2007 were $1,420,000 compared with $143,000 for the comparable 2006 fiscal year ending December 31, 2006. Company profit for the 2007 fiscal year was $127,800 compared to $6,000 for fiscal year 2006.
"We are very pleased with our results for the year, which reflect strong, balanced growth and progress on our strategic initiatives," CEO William Boll stated. "Our target industries including Insurance, Banking and Financial Services, IT Infrastructure and the Best Management Practices markets all performed well for us during the year, confirming the value of our content-rich industry solutions," Boll continued. "Our current financial statements show strong, steady improvement, with services revenue and gross profit both exhibiting solid year-over-year and quarter-over-quarter growth."
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