Acme United (ACU – $16.83) received a $400,000 Building Reuse Grant in the form of a promissory note that gradually will be forgiven as the Company hires more people at its Rocky Mount, NC warehouse.
When Acme’s management was in negotiations to purchase the Rocky Mount facility, in the summer of 2013, if found out about the possibility of a grant from Edgecombe County and the North Carolina Department of Commerce based on job creation. The Company applied for the grant, and now received it.
We heard that when a company receives such a grant, it doesn’t have to return $10,000 of the promissory note it received for every full-time job it creates. So for every person that Acme hires at Rocky Mount, it can recognize an income of $10,000, with a maximum of $400,000, which equals 40 full-time employees.
Late August 2013, Acme United purchased a 340,000 square feet manufacturing and distribution center in Rocky Mount, North Carolina. The facility was acquired for [click to continue…]
This week we have an exciting update on Goldsource Mines (GXS) and financing news about Ironclad Performance Wear (ICPW) and Global Minerals (CTG).
Goldsource Mines (GXS – $0.255) was granted a Medium Scale Mining Permit by the Guyana Geology and Mines Commission for its Eagle Mountain gold deposit in Guyana. The permit grants permission to mine gold, diamonds, precious metals and precious minerals within a 250 hectare portion of its 5,050 hectare Eagle Mountain prospecting license. The project is now fully permitted for mining activities and ready for construction financing and subsequent Phase One development.
Because a medium scale mining permit is required under Guyana law to be held by a Guyanese national, Goldsource entered into an agreement with Kilroy Mining Inc, a private arm’s length Guyanese company.
This makes Kilroy the actual holder of the permit, but Goldsource will obviously conduct all mining operations on the property and will also fund all expenditures. In return, Kilroy will receive [click to continue…]
Earnings season is in full swing, so we’re discussing interesting quarterly results from Noble Roman’s (NROM) and Enterprise Group (E). In addition, we have an update on the acquisition of WaterFurnace (WFI).
Noble Roman’s, Inc. (NROM – $1.70), the franchisor and licensor of Noble Roman’s Pizza and Tuscano’s Italian Style Subs, continues to benefit from growth in its three primary venues, which are non-traditional franchises/licenses other than grocery stores, the sale of take-n-bake pizzas through grocery deli departments and stand-alone take-n-bake franchised locations.
Sales for the second quarter ended June 30, 2014 were $2.09 million, compared to $1.99 million in the comparable period of 2013, an increase of 5%. The increase was mainly due to a significant rise in royalties and fees from stand-alone take-n-bake locations, which were $221,000 for the second quarter of 2014 compared with $53,000 in same period last year. Net income was $503,000, or $.03 per share, for the quarter ended June 30, 2014, compared to [click to continue…]