The 3rd quarter was the implementation of the ramp up (september), however the chinese operation was cash flow positive in July and August. Ultimately, I am not that interested to know what the actual sales were in the 3rd Qtr considering the following:
May 18th PR:
The first quarter milestones Exousia achieved, including the distribution agreement with Universal Forest Products, as well as contracts secured in China during first part of the second quarter, provides foundation for exponential growth the company has worked for since 2007. With the approvals now in place in China, combined with the production facilities in the U.S., Exousia expects to deliver on up to $20 million USD or more worth of production for the remainder of the year as it ramps up production each quarter.
Following numerous PR’s on orders received Exou announces that the company's wholly owned foreign entity (WOFE), Tianjin Exousia Advanced Materials Company Ltd., expects to be cash flow positive in China by the end of July, 2009. 'We have kept operating costs low while building a solid infrastructure for significant growth. Keeping our overhead under control while securing business relationships with these major Chinese companies has allowed us to achieve this milestone quickly,' continued Mr. Roddie. 'We are excited to see our efforts materialize in a substantive way.' 'While it has taken a little longer than we originally planned, we have successfully navigated the company towards increasing revenues that will result in our achieving a positive cash flow from China operations in the very near future,' stated Exousia CEO, J. Wayne Rodrigue.
Aug 4: We received updates on CUC, Bohai, CleanRoom, TuffCore, and this note on AEGEON "We are pleased with the aggressive sales effort by the AEGEON team and we anticipate rapid growth in our North American Coating Division sales for the remainder of 2009."
Aug 11: "NIG's senior management has repeated their intention to purchase a minimum of 200,000 gallons per year to honor their exclusive distribution agreement, which is for 10 years. The total value of the agreement is $80M to $100M or $8M to $10M per year. We, along with NIG, anticipate a surge in activity in the 3rd and 4th quarters." The strategic alliance between Exousia and NIG will initially be focused on the marketing, manufacturing and distribution of Exousia's family of Power Shield high-performance industrial coatings throughout China," commented Mr. Rodrigue. "After that, Mr. Zhang of NIG has requested permission to bring the PowerShield brand of coatings into Vietnam and Thailand where NIG already has several manufacturing facilities and are currently conducting business.
Since then: Updates on CUC, Pinggao Electric, Wuhan, & Dalian with this note on Sept 23: What we initially considered to be about a $100,000,000 market has been expanded to over $260,000,000 in annual revenue opportunity.
The 4th Qtr and beyond will be the interesting part to me. Whats even more intriguing to me is that we can get into this deal at only 23 cents a share!
