Turning Pennies into dollars: (OTCBB:GNAU), (PINKSHEETS: NXPC), (PINKSHEETS: RUNU), (OTCBB: OPAI), (OTCBB: FSRT)
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GENERAL AUTOMOTIVE COMPANY (OTCBB: GNAU)
General Automotive Company is a provider of original equipment and aftermarket automotive parts, mobile electronics, and related automotive products at multiple levels of distribution throughout the United States and internationally. Through its two wholly owned subsidiaries, Global Parts Direct and OE Source, the company focuses its efforts on utilizing its relationships with manufacturers in China, Korea and Japan to bring state-of-the-art automotive parts, accessories and products to automobile manufacturers and major parts distributors in the U.S. For more information on GAC and its products, visit www.generalautomotive.com.
GNAU News:
May 22 - General Automotive Revenues Increase 51 Percent for First Quarter 2008
Substantial Sales Increase Reflects Growing Demand for Replacement Parts
General Automotive Company (OTCBB: GNAU) ("GA"), a provider of original equipment and aftermarket automotive parts, mobile electronics and related products, today reported financial results for its first quarter ended March 31, 2008.
Revenue for the 2008 first quarter rose 51% to $4.07 million from $2.69 million in the 2007 first quarter. Gross profit for the 2008 first quarter was $345,000 compared to $482,000 in the prior-year period. The company recorded a net loss of $504,000, or $0.07 per diluted share, compared to a net loss of $443,000, or $1.15 per diluted share, in the 2007 first quarter.
President and CEO Joe DeFrancisci commented, "Since General Automotive became a public company on February 22, 2008, we've focused on building a platform for the company's future growth. We're pleased with our revenue increase, which was driven by initiatives such as working more closely with our major distributor customers to satisfy the growing demand for engine replacement parts. In tougher economic times, consumers tend to keep their cars longer, increasing the need for the parts General Automotive supplies. We also greatly strengthened our balance sheet, reducing total liabilities from $12.125 million to $4.4 million.
"To increase the efficiency of our operations going forward, we've been expanding our Asia sourcing activities and supplier quality programs. All of these actions are putting General Automotive in a good position to execute our growth strategy going forward. Our plan is to grow both organically and via acquisition within the auto parts and accessories product market. Our focus is on finding and acquiring market leaders with strong growth potential for revenue and profit improvement and outstanding management teams."
CFO Harry Christenson added, "Our selling, general and administrative expenses were consistent for the two comparative three-month periods ended March 31, 2008 and 2007. Although we achieved certain expense reductions in our day-to-day operations, they were offset by the new costs of being a public company of approximately $217,000. We recorded expenses of approximately $28,000 for the value of stock issued as compensation for services in the three months ended March 31, 2008 as compared to $312,000 in the same period of 2007. However, net loss improved by only approximately $148,000, due primarily to reduced gross profit margins."
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NEXPLORE CORPORATION (OTC: NXPC)
NeXplore Technologies is developing a Web 2.0 search engine and an assortment of social networking portals and tools that will enable users to personalize their Web experience and tailor it to their unique needs, interests, and online pursuits. The Company's social computing platform, MyCircle.com, offers an enhanced, user-friendly graphical interface search engine, combined with innovative backend technology, which enables users to improve the way they connect with information and other people on the Worldwide Web. MyCircle's Web 2.0 interface provides users with an online tool for sharing their Blogs, Voice-Over IP, photos and documents, podcasts and videocasts, classified advertising, instant messages, SMS text messages, Chat and personal profiles.
NXPC News:
May 22 - Detroit Red Wing Pavel Datsyuk Scores for NeXplore
Datsyuk Joins NeXplore Advisory Board, Serves as Spokesperson
NeXplore Corporation (OTC: NXPC) announced that Russian-born hockey phenom and acclaimed center for the Detroit Red Wings Pavel Datsyuk will serve as a spokesperson to help drive adoption of NeXplore Search, an innovative Web 2.0 search destination optimized for a superior end-user experience, rich-media display and social network integration. NeXplore Search is currently in public beta at www.NeXplore.com.
"NeXplore Search is fun and easy to use," said Datsyuk. "I'm proud to be part of the NeXplore team. Hockey fans will love NeXplore. It is easy to find and save video highlights of their favorite players. More pictures and videos help you to find what you're looking for fast."
"The excitement when Pavel steps on the ice is palpable. His energy and passion are electric, contagious. He fires up hockey fans and teammates alike whenever he has the puck. He is a world-class athlete - renowned as much for his awe-inspiring play as he is for his good sportsmanship. Pavel Datsyuk is a welcome and great addition to the NeXplore team," said Edward Mandel, chief executive officer of NeXplore Corporation.
Scott Grizzle, chief marketing officer for NeXplore Corporation, said, "We are aggressively targeting sports enthusiasts during phase one of the NeXplore Search public beta rollout. We believe sports fans will share a natural affinity with and appreciation for the great performance and exciting, visually rich experience NeXplore Search offers. Sports fans are passionate, and we believe, have a strong influence on their peers. Once they give NeXplore Search a try, we're confident they'll help us spread the word."
Grizzle added, "Pavel Datsyuk personifies characteristics NeXplore operates by on a daily basis - speed, excitement, and an unrelenting drive to be the best. He is a class act on and off the ice, and we are thrilled to have him on board."
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RUDY NUTRITION INCORPORATED (OTC: RUNU) up 36.84% in morning trading
Founded by Notre Dame sports legend Daniel "Rudy" Ruettiger, Rudy Nutrition, Inc. is a manufacturer of health conscious "Rudy" branded products that offer great taste as well as healthy choices for parents, kids, athletes, and active people looking for something special. Rudy Nutrition is focused on creating, distributing and licensing "Rudy" branded products that offer healthier alternative choices backed by Rudy's inspirational message of hope - that "never give up" spirit immortalized in the movie "RUDY" - on every product.
RUNU News:
May 22 - Bold New Look Aims to Create a Greater Impact for the Rudy Brand
Rudy Nutrition, Inc. (OTC: RUNU) announced a new label design that reflects a bolder and more distinctive look. The new label design includes the same inspirational "Dream Big. Never Quit." message. Along with the new label, the bottle cap will be changed to the color gold. The fresh packaging alternative was designed to stand out from other brands in the beverage marketplace.
President of Rudy Beverage Rocky Brandonisio stated, "This more dynamic look will appeal to more consumers and is expected to create greater impact on-shelf." He went on to say, "It's still the same, easily recognizable Rudy label, but greater emphasis has been placed on the nostalgia of the Rudy name."
The changes to Rudy Beverage are part of an overall marketing strategy to continue nationwide momentum and penetration into new markets. "Dream Big. Never Quit." is the marketing campaign of Rudy Beverage. This message will be reinforced with testimonials and promotional materials featuring the soon to be announced current and former professional athlete celebrity endorsers.
"Rudy Beverage reminds us all that if we dream big and never quit, great things will happen," said Daniel "Rudy" Ruettiger, Chairman of Rudy Nutrition, Inc. "We strongly believe that this message will resonate with consumers."
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ORIENT PAPER INCORPORATED (OTCBB: OPAI) up 5.88% in morning trading Orient Paper engages mainly in the production and distribution of products such as copy paper, uncoated and coated paper, digital photo paper, corrugated paper, plastic paper, kraft paper, graphic design paper, antifraud thermal security paper and other paper and packaging-related products. For more information, visit www.orientalpapercorporation.com.
OPAI News:
May 21 - Orient Paper, Inc. Announces First Quarter 2008 Financial Results
Revenues Increased 66.04% to $13.5 million
Net Income Increased 85.51% to $1.4 million
EPS Doubled to $0.04 per diluted share
Orient Paper Inc. (OTCBB: OPAI) (the "Company"), a large paper milling manufacturer in China, announced its operating results for the first quarter of 2008. Net revenues for the first quarter of 2008 increased 66.04% to $13.5 million compared to $8.1 million for the first quarter of 2007. First quarter's net income was $1.4 million, compared to $0.78 million for the first quarter of 2007, with earnings per share increasing to $0.04 per diluted share compared to $0.02 per diluted share for the comparable period of 2007.
"We are very pleased with our first quarter results. During the quarter, our growth in revenues and the increase in net income, compared to last year's results, were due to a combination of a strong seller's market and higher sales volume in three product lines: Corrugated Paper, High-Grade Offset Paper and Mid-Grade Offset Paper. Additionally, the introduction of new product lines resulted in record profits for our company," Zhenyong Liu, Chief Executive Officer of Orient Paper stated. "In our previous news release, we stated that we have new permits that will enable us to continue to gain market share in China. While our first quarter results are more than satisfactory, we will continue to grow and significantly improve our Company's bottom line results. Additional growth will be achieved through strengthening our operational foundation through focusing our efforts on issues such as internal cost control, improved logistics coordination, advanced technology import, new product development and an increase in the overall managerial efficiency of the Company. We are delighted about the progress our company has realized in the past and look forward to building upon that in each succeeding quarter. Our focus is, and will remain, to provide increased value to our shareholders," Mr. Liu concluded.
First Quarter Highlights
The $5.4 million increase in net revenues during the first quarter of 2008 was attributable to increased demand for our products as a result of the closure of many small paper milling companies because of heightened environmental laws and regulations. In addition to the increased demand, we launched a successful market expansion plan that increased our sales volume in the domestic market.
Gross profit was $2.5 million with a gross margin of 18.36% for the three months ended March 31, 2008, compared to $1.3 million in gross profit and a gross margin of 15.61% recorded during the first quarter 2007. The favorable variances resulted from the fact that the Company experienced an increase in their sales and related pricing which was greater than the increases noted in related costs during the period.
General, administrative, and research and development expenses in the quarter were $0.22 million, up $0.15 million from last year's first quarter level, reflecting the funding of a new research venture of the Company to increase the market position in other areas.
Net income in the first quarter was $1.4 million, an improvement of $0.67 million, or 85.51% from the prior year's $0.78 million. This increase reflects the higher revenues and improved cost efficiencies.
Fiscal 2008 Outlook
Orient Paper reaffirms previously issued guidance for its 2008 financial results, with total sales for 2008 to increase approximately 20% compared to 2007.
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FREESTAR TECHNOLOGY CORPORATION (OTCBB: FSRT) up 22.22% in morning trading
FreeStar Technology Corp. provides mission-critical solutions to the financial industry worldwide. Working with merchants and acquirers in more than twenty countries, its product suite has empowered partners to focus on their core competencies, while its innovative driven approach has enabled them to benefit from first to market advantage and realize their true potential. FreeStar Technology has adopted a partnership strategy for growth. Its partners are market leaders in their respective industries. These include IKEA, Finnair and Stockmann. Its subsidiaries, Rahaxi Processing Oy., Finland, FreeStar Technologies Ireland, Ltd., and FreeStar Dominicana S.A. Dominican Republic, continue to develop and implement first class products and solutions that enhance the service level its partners can offer their customers. For more information, visit www.freestartech.com and www.rahaxi.com.
FSRT News:
May 21 - FreeStar Technology Corporation Achieves Record Quarterly Revenue, Generating a 272% Increase in Hardware Sales Over the Past Nine Months
Revenue Generates an Increase of 178% Over the Past Nine Months; 2008 on Track to Exceed Company's Expectations in Cross-Border Transactional Processing and Hardware Sales
FreeStar Technology Corp. (OTCBB: FSRT), an international card payments processor and technology company, reported financial results for the three month and nine-month periods ended March 31, 2008.
Revenue for the three months ended March 31, 2008 was $1,629,150 compared to $1,125,634 for the three months ended March 31, 2007 an increase of $503,516 or approximately 45%. Revenue consisted of transaction processing and related revenue of $575,002, an increase of 19% over prior year. The Company processed a total of 4,047,161 transactions during the three months ended March 31, 2008, this number does not reflect the sales of POS (Point of Sale) terminals that are charged a flat recurring rate monthly fee rather than per transaction fee.
Revenue for the nine-month period ending March 31st 2008 showed a 85% increase over the same period ending March 31st 2007. The Company had revenue of $4,432,358 for the nine months ended March 31, 2007 compared to $2,399,396 for the nine months ended March 31, 2007, an increase of $2,032.962. Revenue consisted of transaction processing and related revenue was $1,575,507 compared to $1,443, 763 during the prior year an increase of 9%. The Company processed a total of 14,233,019 transactions. This number does not reflect the sales of POS (Point of Sale) terminals that are charged a flat recurring rate monthly fee rather than per transaction fee.
The Company reports continued trend in increases of consulting services. There was an increase of 60% with a total of $760,119 for the three months ended March 31, 2008 compared to $474,505 during the prior year. An increase of 178% with revenue of $2,049958 for the Nine months ended March 31, 2008, compared to $738,449 during the prior year.
"The Company's consulting revenue is generated primarily from the company's 50% stake in PLC (Project Life Cycle Partners). This will continue to increase with more terminals being deployed and further expansion into more countries with our Cross border payments processing ability. We expect to report increased revenue from consulting services in the Fiscal year ending June 30, 2008," stated Freestar's CEO Paul Egan.
Hardware and related revenue was $806,893 during the Nine months ended March 31, 2008 compared to $589,709 the prior year, an increase of 272%. "This has been a record year thus far in both Consulting services and Hardware sales. We will continue this trend as we expand our customer base and recognize additional revenue streams from both annual maintenance fees and service initiation fees. Our International projects are in progress and we can expect to see a healthy increase in processing revenue throughout 2008," stated CEO Paul Egan.
Commenting on the results, Ciaran Egan, Chief Financial Officer, said: "This has been a very exciting year thus far for Freestar Technology Corporation. We believe we have achieved significant progress as a company through our continued investment in technical infrastructure, raising our profile, visibility, and customer support network. As a global business, we have further demonstrated that we can secure and deliver a wide range of cutting edge payment solutions to a wide range client base across a world market.
"We believe that this is very much the beginning of what can ultimately be achieved by the Company. We have an excellent team, a growing reputation for delivering quality solutions and a significant market opportunity."
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