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SteroidStocks.com Says: (OTCBB:CCGI) - (OTCBB:BEAC) - (OTCBB:TMED) Are On Steroids!!!
(M2 PressWIRE Via Acquire Media NewsEdge) SteroidStocks.com Says: (OTCBB:CCGI) Car Charging Group, Inc. , (OTCBB:BEAC) Beacon Enterprise Solutions Group, Inc. and (OTCBB:TMED) Trimedyne, Inc. are on STEROIDS!
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About Car Charging Group, Inc.
Car Charging Group, Inc. is an owner and provider of electric vehicle (EV) charging stations with the mission to build-out a nationwide infrastructure, enabling EV and PHEV owners to charge their EVs anytime, anywhere. As part of its strategy, the Company owns, provides, installs and maintains electric vehicle charging units and works with its landowner partners to identify appropriate locations for its charging stations. The Company provides convenient, safe and affordable charging stations away from home in customer-friendly public locations, including municipalities, shopping malls and parking garages.
An estimated 40 million plug-in electric vehicles, such as the Nissan Leaf, GM Chevy Volt, Fisker Karma, Tesla Model S as well as many others, are expected to be on the road by 2030. Car Charging Group and other companies in the EV industry realize the need to establish charging station networks throughout the transportation infrastructure to provide easy access to energy everywhere drivers live and work. By investing at the forefront of the electric car revolution, Car Charging Group seeks to become the leading provider of electric car charging services. The Company launched its operations nationally in September of 2009 and is expanding its operations internationally.
Car Charging Group, Inc. is based in Miami, Florida. The Company's website can be viewed at www.carcharging.com.
News Today:
MIAMI BEACH, Fla., Aug 26, 2010 -- Car Charging Group, Inc. (OTCBB:CCGI) today announced that it has partnered with the City of Dania Beach Community Redevelopment Agency (CRA) to install and maintain charging stations for electric vehicles at the city's brand new garage, located near City Hall in Dania Beach, Florida. The EV charging stations are installed and are available for use to the public effective immediately.
Widely regarded as a cornerstone for revitalizing the area's downtown section, the garage features innovative architecture and eco-conscious features, including electric car charging stations. With parking spaces for 440 vehicles and a brand new hotel slated to begin construction within a few months, this environmentally-friendly parking structure is open and ready for business, complete with four charging stations provided by Car Charging Group, Inc. As the need for additional units becomes necessary, Car Charging will facilitate additional installations of EV Charging Stations.
Car Charging Group has installed ChargePoint(R) Networked Charging Stations for EVs which are manufactured by Coulomb Technologies (www.coulombtech.com), the industry leader in electric vehicle charging infrastructure. Through the aid of government tax incentives, subsidies, loan guarantees and grants, Car Charging provides EV charging stations at no charge to property owners/managers while retaining ownership, thus allowing drivers access to convenient locations and partners to realize a percentage of the charging revenue generated.
"We are pleased to be participating in Dania Beach's hard work to become an eco-conscious town and applaud the city on its efforts," said Michael D. Farkas, CEO of Car Charging Group. "This partnership helps to support the need for electric vehicle charging stations nationwide, and we are thrilled to have a nearby town help us lay the foundation."
Dania Beach CRA Director Jeremy Earle stated: "By offering the latest technology and an energy-friendly building, we are ensuring our city's future by responding to efficient energy awareness and consciousness for the environment."
In the coming months, developer Hank Thomas of The Greenhill Development Company will work closely with Dania Beach officials to complete the city's revitalization efforts. Several of the transformations planned include a new Broward County Library and City Hall, as well as a hotel, residential accommodations, commercial areas, modified street design and public art displays.
For more information regarding Dania Beach's Redevelopment Agency, please visit http://www.ci.dania-beach.fl.us/index.aspx?nid=207.
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About Beacon Enterprise Solutions Group, Inc.
Beacon Enterprise Solutions Group is an emerging global leader in the design, implementation and management of high performance Information Technology Systems ("ITS") infrastructure solutions. Beacon offers fully integrated, turnkey IT infrastructure solutions capable of fully servicing the largest companies in the world as they increasingly outsource to reduce costs while optimizing critical IT design and infrastructure management. Through an integrated team approach, Beacon offers a broad range of products and services including IT infrastructure design, implementation and management, application development and voice/data/security system integration, installation and maintenance. Beacon's client roster includes state and local agencies, educational institutions, and over 4,000 companies ranging in size from mid-sized companies to the Fortune 500. Beacon is headquartered in Louisville, Kentucky, with a regional headquarters in Dublin, Ireland and personnel located throughout the United States and Europe.
For additional information, please visit Beacon's corporate website: www.askbeacon.com
News Today:
LOUISVILLE, Ky., Aug 26, 2010 --Net Sales Growth Projected to Resume--
--SG&A Projected to Remain Stable--
Beacon Enterprise Solutions Group, Inc. (OTCBB: BEAC) (www.askbeacon.com) an emerging global leader in the design, implementation and management of high performance Information Technology Systems (ITS) infrastructure solutions, today discussed recent developments and outlook for 2011.
"We are more committed and confident today than ever before that we are on the right path to build Beacon into an internationally recognized brand in ITS infrastructure services," stated Bruce Widener, CEO of Beacon Solutions. "The decisions made this past quarter represented a course correction necessary to adequately realize the opportunities within the $70 billion global ITS infrastructure market. By eliminating the distractions and complexities of non-core, lower margin general contracting business and renewing the focus on our four core segments of professional services, we believe that Beacon is better positioned for growth and profitability in 2011 and beyond. We are acutely focused on the growth of our core professional services business by pursuing additional new engagements with numerous existing customers. Additionally, we're pursuing new customers by leveraging relationships with manufacturers and distributors of ITS infrastructure equipment and materials as well as technology and trade partners in related industries."
"Beacon's core business is solving our customers' problems with the design, construction and management of their information technology systems," commented Jerry Bowman, Chief Operating Officer of Beacon Solutions. "By providing ITS professional services on a managed services platform, our core business responds to an unmet market need, strengthens our competitive position and creates a win-win situation where we can provide substantial savings to our clients. The types of problems and solutions may change depending on the economy and the business objectives of the client, but the continuum that runs the gamut from downsizing to growth contains roughly equal amounts of work with very different drivers. In response, we have expanded the breadth of services offered within the ITS sector, due primarily to reduced internal resources and strategic sourcing efforts seen within our clients. As evidenced by client feedback and the aggregate future value of our project backlog, currently at $76 million, there is ample demand for our service offering and as a result we are preparing for our core business with existing clients to double in 2011."
Bowman continued, "The size of a company's project backlog only tells part of the story. A large backlog stacked with low-margin or difficult business can be a vanguard of challenges to come. We've spent the last quarter evaluating the backlog and deciding which business was consistent with our strategies and played to our core business capabilities. Our current core technical business units leverage the highest revenue streams and margin while providing the least risk."
"Rapid expansion of a services business requires some effort to scale. Even when a discontinued line of business is replaced by business more closely aligned with core strengths, there can be challenges. Services revenue is a balancing act between the ability to market capabilities and the capacity to adapt and scale to new client needs. We believe that the enhanced focus on our higher margin, core ITS business spread across Engineering, Service Delivery Management, Contract Services and Construction Management, will support a net sales level of $40 million or more in fiscal 2011. This is not a commentary on the growth potential of the business. We believe it is a realistic assessment of our ability to continue to focus sales and operations on our core business. We are also beginning to integrate empirical data into the projected distribution of net sales from quarter-to-quarter. Even managed services revenue is impacted by the peaks and valleys that are prevalent in the ITS project business, influencing the timing of new client intake and other factors. We believe that these factors will result in a ramping effect on the quarter-to-quarter net sales as we continue to scale our core business in fiscal 2011, with 35-40% of the annual net sales coming in the first half of fiscal 2011 and the balance in the last two quarters," concluded Bowman.
"In order to fund working capital for the continued planned growth of the Company, Beacon announced on August 17, 2010, that it had secured a new $4 million credit facility from a member of the Company's Board of Directors," stated Michael Grendi, Chief Financial Officer of Beacon Solutions. "The combination of the new credit facility and effective management of accounts receivable should be sufficient to provide for the Company's projected growth and liquidity needs throughout fiscal 2011."
"As a public Company, Beacon has had to invest in and maintain a certain level of SG&A expense. Since most of Beacon's SG&A expense is relatively fixed, Beacon expects SG&A to remain relatively constant near term during the expected net sales growth. The only expected significant increase in SG&A expense is sales commission's expense due to the continued growth," continued Grendi.
"As previously discussed in Beacon's Form 8-K on August 20, 2010, Beacon has reported Beacon Solutions AG as a discontinued operation for financial reporting purposes. Beacon Solutions AG (a stand-alone corporation, which is 100% owned by BESG Ireland Ltd.) has no current operating activities or employees. Beacon is currently engaged in discussions and is pursuing various avenues to reach a satisfactory conclusion relating to a dispute regarding the data center construction project in Zurich, Switzerland and does not expect the outcome to have a material impact on its financial condition or future operating results," concluded Grendi.
"Gross margin for the company's core professional services business is targeted to blend at 40% or higher," added Widener. "Historically, gross margin for the core professional services business has been in line with these expectations. Over the past two quarters however, the general contracting business in the company's Swiss subsidiary (Beacon Solutions AG) blended margins down to the low-to-mid twenty percent range. With the renewed focus on the Company's core professional services business, we expect to once again consistently realize gross margins that have historically ranged from 37 percent to 58 percent. As the Company continues to grow net sales in its core business units while achieving its targeted gross margins over the next several quarters, the expectation is that we will achieve sustainable profitability in the near future."
"The difficult decisions we made this past quarter were necessary to ensure that the Company is set on a course for continued, sustained success. As we conclude fiscal 2010 and rapidly approach fiscal 2011, we are employing a renewed, disciplined approach to signing new business that upholds our mission of building Beacon into an internationally recognized brand in ITS infrastructure services by focusing on the pursuit of quality projects, with quality clients, which include some of the largest corporations in the world."
Aggregate Future Value of Project Backlog:
Aggregate Future Value of Project Backlog reflects the projected revenue impact of existing engagements over a one to four year period and is subject to change as work is completed and/or the scope of various engagements changes over time. This number includes the projected value of previously announced, multi-year ITS managed services engagements as well as short-term projects for which the Company has been engaged to provide network design, engineering, implementation and/or project management services.
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About TRIMEDYNE, INC.
Trimedyne manufactures proprietary Holmium lasers and patented fiber optic laser devices for vaporizing the prostate to treat BPH, vaporizing spinal disc tissue to treat herniated or ruptured discs and in a variety of other, minimally invasive procedures, many of which are performed on an outpatient basis at substantially less cost than conventional surgery. For product, press release, financial, SEC Reports and other information, please visit Trimedyne's website, http://www.trimedyne.com.
News Today :
LAKE FOREST, CA, Aug 26, 2010 -- TRIMEDYNE, INC. (OTCBB: TMED) today reported its financial results for the quarter and nine month period ended June 30, 2010.
Revenues for the current quarter were $1,515,000, a decrease of 27% from revenues of $2,068,000 for the prior year's quarter. The $553,000 decrease in revenues was due to lower revenues from sales of fiber optic devices and lasers, as the current worldwide recession has caused many people to put-off elective, outpatient medical procedures, such as those in which the Company's products are used. The gross profit margin in the current quarter was 49% of revenues, compared to 40% for the prior year quarter, due to the Company's tight control of costs. The Company had a net loss of $62,000 or $0.00 per share for the current quarter, a 32% reduction from the loss of $82,000 or $0.00 per share for the prior year quarter.
For the nine months ending June 30, 2010, revenues were $4,896,000, an 8% decrease over revenues of $5,310,000 in the prior year period, and the Company's net loss for this period was $669,000 or $0.04 per Share, a 23% reduction from the net loss of $872,000 or $0.05 per Share for the prior year period.
Commenting on the financial results for the quarter, Marvin P. Loeb, Sc.D., Chairman of Trimedyne, said, "While we are disappointed in the decline in revenues in the Quarter ended June 30, 2010, our cost reduction efforts increased our gross profit margin to 49% from 40% and reduced our loss for the quarter to $62,000, an 80% reduction from our loss of $307,000 for the immediately preceding quarter ending March 31, 2010."
The Company's Business
Trimedyne developed a new side firing optical fiber for use with 80 and 100 watt Holmium Lasers for the treatment of benign prostate hyperplasia or BPH, commonly called an enlarged prostate, primarily for sale to Lumenis Ltd. of Yokneam, Israel ("Lumenis"), one of the world's largest manufacturers of medical lasers with annual sales of about $250 million. Lumenis markets certain of its products through Boston Scientific Corporation in the U.S. and Japan.
BPH is a condition which affects an estimated 50% of men over age 55 and an increasing percentage of men at older ages. About 200,000 men are treated each year in the U.S. with laser or radiofrequency ("RF") energy or other means to treat this condition. The laser procedure can be performed on an outpatient basis and minimizes the adverse effects of the RF surgical procedure, which typically requires a hospital stay and entails significant bleeding and the risks of a blood transfusion, infection, impotence and incontinence.
The Company has begun marketing its new side-firing fiber-optic device under our VaporMAX(R) trademark at a price significantly lower than the prices of side firing fibers marketed by certain of our competitors. Our VaporMAX(R) Fiber is very durable and is designed to operate at 80 or 100 watts of Holmium Laser energy for one hour or longer. Side firing fibers made by certain of our competitors sometimes fail before a BPH patient's treatment has been completed, interrupting the procedure and requiring the hospital to use a second fiber.
On August 1, 2010, Wade B. Hampton joined the Company as Director of U.S. Sales. Mr. Hampton previously served as a Senior Vice President of Accuracy, Inc. and, earlier, of Lumenis. On the same date, Baron Minor Group, Inc. ("BMG"), of which Mr. Hampton is a principal, entered into a Sales Management Agreement with the Company to market the Company's lasers and fiber-optic devices on a commission basis through its 15 laser sales representatives in the United States. Some of these sales representatives were formerly employed by Lumenis.
BMG also agreed to assist the Company on sales of its products outside the United States. The Company granted a Non-Qualified Stock Option to purchase 60,000 shares of the Company's Common Stock at its closing price on August 1, 2010 to each of Mr. Hampton and BMG.
The Company's Financial Condition
The Company's working capital has declined, and it has incurred losses during the past four years from operations and the development of its new side firing optical fiber device. There can be no assurance that the Company will be able to maintain or achieve sales growth to offset these losses, or that the Company will again become profitable.
The Company has taken various steps to reduce its costs through a significant reduction in personnel positions and overhead costs. Also the Company's Chairman has deferred all of his salary and the Company's President has deferred 15% of his salary.
The Company recently renegotiated its lease on its facility in Lake Forest, California and signed a new lease agreement which will result in a savings of over $111,000 in rent expense through the next twelve months. The Company also plans to raise additional capital through the sale of notes, debentures, equity capital or other Company assets. However, there is no assurance these efforts will be successful.
Based on its current cash flow projections, the Company expects its existing resources will be sufficient to fund its operations through December 31, 2010. However, the Company's management is unsure if the Company's liquidity and anticipated revenues will be sufficient to meet its obligations as they become due for the next 12 months from June 30, 2010. This raises substantial doubt about the Company's ability to continue as a going concern (See "The Company's Dispute with Lumenis" for information on $200,000 of the proceeds of Notes, recently purchased by the Company's Chairman & CEO, being available for use in operations by the Company).
The Company's Dispute with Lumenis
In June 2010, the Company began negotiating an amicable settlement of its claims against Lumenis. If the Company and Lumenis do not promptly reach an amicable settlement of the Company's claims against Lumenis, the Company will again take legal action against Lumenis.
On August 20, 2010, The Company sold to Marvin P. Loeb, its Chairman and CEO, $500,000 of 6% Senior Secured Convertible Notes ("the Notes") due five (5) years from their date of issue. The Notes are secured by all of the assets of the Company, are redeemable by the holder and are convertible, with accrued interest, into Common Stock of the Company at its closing price on August 20, 2010. Up to $200,000 of the proceeds of the Notes will be used for operations and the balance will be used, if a settlement with Lumenis is not promptly reached, to pay any legal fees and costs in the Company's legal action against Lumenis which are not covered by a contingent fee agreement.
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About SteroidStocks.com
SteroidStocks.com is written and published by SteroidStocks.com employees. Readers are advised that this analysis report is issued solely for informational purposes. Neither the information presented nor any statement or expression of opinion, or any other matter herein, directly or indirectly constitutes a representation by the publisher nor a solicitation of the purchase or sale of any securities. The information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of the available data. The owner, publisher, editor and their associates are not responsible for errors and omissions. They may from time to time have a position in the securities mentioned herein and may increase or decrease such positions without notice. Any opinions expressed are subject to change without notice. SteroidStocks.com encourages readers and investors to supplement the information in these reports with independent research and other professional advice. For additional information, please visit www.steroidstocks.com or e-mail info@steroidstocks.com.
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