Pink Sheets

Jackfree notes in the comments of the previous Conforce posting that Conforce International (collected entries) issued their results for the quarter ended June 30, 2008.

Here's my take on it:

No cash. It's now tied up in accounts receivable. It appears shareholders continued to loan money to the company to pay some of the bills (although I don't know how much in this quarter). No interest, no terms.

Sharecount is unchanged, although that could change suddenly without warning given their balance sheet. They claim they can finance the EKO FLOR expansion from operations, but that seems fairly impossible unless they expect the field trial results to impress the customers so much that they'll front the costs of manufacturing. Personally I expect a fair amount of dilution.

All revenue so far has been from the terminal operations. Any revenues from the field trials will occur after the trials. Revenue for the quarter was $712K with $315K gross profit. $17K net loss.

Salaries dropped from last year from $120K to $102K. Commissions are up. Garbage disposal costs were $408 for the quarter.

It all depends on the results of the field trials.

I continue to own the stock.

Note that they claimed that they'd follow up by August 19 on the U.S. Military contractor deal but they never did [UPDATE: except via email].