OTC Bulletin Board
S & P Company Insight for ASTRATA GROUP INC |
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Profile
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| Business Summary: Astrata Group Incorporated, together with its subsidiaries, provides location-based information technology (IT) products and services. | | | Address
950 South Coast Drive
Suite 265
Costa Mesa
, CA 92626-1776
Phone: 714-641-1512
Fax: 714-360-0535
Website: http://www.astratagroup.com
| | Auditor |
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Windes & McClaughry
| | Transfer Agent |
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Interwest Transfer Co. Inc.
| Employees: 54
ShareHolders: 481 | Founded: 1996
Domicile: Nevada | | | |
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Background
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| Astrata Group Incorporated, together with its subsidiaries, provides location-based information technology (IT) products and services. Its products and services combine global positioning system positioning, wireless communications, and geographical information technology, which enable businesses and institutions to monitor, trace, or control the movement and status of machinery, vehicles, personnel, and other assets. The company offers advanced positioning products, as well as monitoring and airtime services to commercial and governmental entities in various markets, including homeland security, public safety, transportation, surveying, utility, construction, mining, and agriculture. Its products and services include surveying instrumentation, such as wireless communication and lasers; fleet management for specialized machines, including guidance for earth-moving equipment; positioning and IT technology for remote asset management and associated telematics products; field data collection equipment; and products and airtime communications services for track and trace applications. Astrata Group operates in the United States, western Europe, and Asia. The company was founded in 1986 and is headquartered in Costa Mesa, California. | | History: INCORPORATED in Nevada Mar. 13, 1996 as Sportsman's Wholesale Company. Name changed to Cetalon Corp. Mar. 13, 2001; and to Astrata Group Inc. Aug. 3, 2004.
January 15, 2003, the company (then known as Cetalon Corp.) filed a petition for relief under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the Central District of California, Los Angeles Division. On May 27, 2004, the Bankruptcy Court entered an order confirming the company's Plan of Reorganization (the Plan), followed by confirmation of the Plan by the Bankruptcy Court on May 28, 2004. The Plan was effected on June 8, 2004, and the Cetalon Corp. Liquidating Trust was created.
Pursuant to the Plan, all equity interests of Cetalon Corp. in existence prior to the Plan's effective date were cancelled. When and if all unpaid creditor claims assigned to the Trust were satisfied in full with interest, the company's pre-petition equity holders would then receive a pro-rata distribution of the remaining Trust assets based on their pre-petition percentage ownership of the company. Under the terms of the Plan, in August 2004, the company combined with Cadogan Investments Ltd., the London-based owner of Astrata South Africa (Pty) Limited, and with Optron Technologies, Inc., a Nevada company with operations in Singapore, Malaysia, Brunei and England. Pursuant to the Plan, the company issued approximately 6,275,000 Common shares in exchange for all shares of Cadogan Investments Ltd., and 1,800,000 Common shares to acquire all shares of Optron Technologies. The company also issued an additional 156,000 Common shares to the Trust for distribution pursuant to the terms of the Plan, an additional 609,000 Common shares in satisfaction of approximately $520,000 of administrative claims, and an additional 1,560,000 Common shares to certain administrative note holders in satisfaction of about $53,000 of administrative-claim notes payable and accrued interest.
On Dec. 16, 2004, the Bankruptcy Court closed the Cetalon Chapter 11 case. | | | | Subsidiaries: |
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Astrata (Asia Pacific) Pte Ltd
Astrata (B) Sdn Bhd
Astrata (Singapore) Pte Ltd
Astrata Europe Ltd.
Astrata GeoTrax Sdn Bhd
Astrata Malaysia Sdn Bhd
Astrata South Africa (Pty) Limited
Astrata Systems (Pty) Limited
Cadogan Investments Limited
CyberPro Software Solutions (Pty) Ltd
| | | | | | Capital Expenditures, thousand. US Dollars |
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| Year | Amount | | 2005 | 1,131 |
| | | | | Research and Development Expenditures, thousand. US Dollars |
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| Year | Amount | | 2005 | 1,255 |
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Management
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Management
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| Officers | Position |
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| Anthony J. Harrison | Chairman | | Anthony J. Bryan, Sr. | Vice Chairman | | Martin Euler | Chief Executive Officer | | Thomas Wagner | Chief Financial Officer | | Hoyt Layson, Jr. | Chief Technology Officer |
| | Directors |
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| Paul Barril | | Anthony J. Bryan, Sr. | | John Clough | | William Edward Corn | | Martin Euler | | Anthony J. Harrison | | Stefanie Powers | | | |
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Annual Report
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| Annual Report |
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| | | Income Statement | |
| 2008 | 2007 |
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| Net sales | 13,445 | 3,472 | | Cost of goods sold | 9,399 | 1,882 | | Selling, general and administrative expenses | 11,044 | 7,951 | | Research and development expenses | 37 | 260 | | Loss on forgiveness of debt | -- | 4,419 | | Change in fair value of derivative warrant liability | -- | (1,801) | | Interest expense | 1,423 | 2,391 | | Other income (expense), net | (43) | (191) | | Income tax provision | 509 | (155) | | Equity in opers. of affiliate | (64) | (4) | | Income from continuing operations | (9,074) | (15,272) | | Discontinued operations | (442) | 593 | | Net income | (9,516) | (14,679) | | Basic and diluted income (loss) per common share |
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| | Continuing operations per share | ($0.34) | ($1.14) | | Discontinued operations | (0.02) | 0.04 | | Net income | (0.36) | (1.10) |
| | | | Balance Sheet | |
| 2008 |
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| ASSETS: |
| | Cash and cash equivalents | 1,032 | | Trade and other receivables, net | 1,048 | | Inventories | 286 | | Other assets | 461 | | Cost in excess of billings and estimated earnings on uncompleted contract | 3,289 | | Total current assets | 6,116 | | Property and equipment, net | 618 | | Goodwill | 300 | | Notes rec. | 75 | | Certificate of deposit and other restricted cash | 421 | | Total assets | 7,530 | | LIABILITIES: |
| | Accounts payable & accruals | 4,267 | | Salaries and benefits payable to officers and directors | 5,587 | | Interest pay. | 1,788 | | Income taxes | 518 | | Notes payable to stockholders | 1,884 | | Advance from stockholder | 142 | | Current portion of long-term liabilities | 191 | | Discontinued operations-current liabilities | 8 | | Other curr. liabs. | 1,716 | | Total current liabilities | 16,101 | | Long-term liabilities | 10 | | Preferred stock, $0.0001 par value | 1 | | Common stock, $0.0001 par value | 3 | | Additional paid-in capital | 38,278 | | Accumulated deficit | (46,471) | | Accumulated other comprehensive income | (392) | | Total liabilities | 7,530 |
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* Financial statements represent fiscal years ended Feb. 29 '08 and Feb. 28 '07. | | | |
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Interim Report
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| Interim Report
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| | | Data Not Available | | | | | | | | | |
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Pro Forma Report
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| Pro Forma Report
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| | | Data Not Available | | | | | | | | | |
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Quarterly Report
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| Quarterly Report Information
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| | | Quarterly Revenue, US$ |
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| Year | Quarter | Revenue | | 2009 |
1 | 3,030,000 | | 2008 |
1 | 1,010,000 | | 2008 |
2 | 1,620,000 | | 2008 |
3 | 4,720,000 | | 2008 |
4 | 3,090,000 | | 2008 |
Full Year
| 13,450,000 | | 2007 |
1 | 430,000 | | 2007 |
2 | 910,000 | | 2007 |
3 | 760,000 | | 2007 |
Full Year
| 3,470,000 | | 2006 |
1 | 3,500,000 | | 2006 |
2 | 4,790,000 | | 2006 |
3 | 3,880,000 | | 2006 |
Full Year
| 14,790,000 | | 2005 |
3 | 4,130,000 | | 2005 |
Full Year
| 14,680,000 | | 2004 |
2 | 3,700,000 |
| | | | | | Quarterly Net Income, US$ |
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| Year | Quarter | Revenue | | 2008 |
1 | N/A | | 2008 |
Full Year
| (9,070,000) | | 2007 |
1 | (3,940,000) | | 2007 |
2 | (1,690,000) | | 2007 |
3 | (980,000) | | 2007 |
4 | (2,820,000) | | 2007 |
Full Year
| (15,270,000) | | 2006 |
1 | (1,840,000) | | 2006 |
2 | (460,000) | | 2006 |
3 | (6,360,000) | | 2006 |
Full Year
| (14,948,200) | | 2005 |
1 | (2,780,000) | | 2005 |
2 | (2,560,000) | | 2005 |
3 | (3,390,000) | | 2005 |
Full Year
| (7,311,500) | | 2004 |
2 | (910,000) | | 2004 |
3 | (1,300,000) | | 2004 |
Full Year
| (20,000) |
| | | | | | Quarterly EPS, US$ |
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| Year | Quarter | Revenue | | 2009 |
1 | (.45) | | 2008 |
1 | (.18) | | 2008 |
2 | (.07) | | 2008 |
3 | (.04) | | 2008 |
4 | (.07) | | 2008 |
Full Year
| (.34) | | 2007 |
1 | (.15) | | 2007 |
2 | (.14) | | 2007 |
3 | (.60) | | 2007 |
Full Year
| (1.14) | | 2006 |
1 | (.24) | | 2006 |
2 | (.21) | | 2006 |
3 | (.27) | | 2006 |
Full Year
| (1.22) | | 2005 |
2 | (.09) | | 2005 |
3 | (.13) | | 2005 |
Full Year
| (.78) | | 2004 |
Full Year
| N/A |
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Stock Data
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| | | Capitalization as of 05/31/2008: | | | | | Authorized Shares | Outstanding Shares |
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| Preferred $0.0001 par | 75,000,000 | 2,835,238so1 | | Common $0.0001 par | 300,000,000 | 28,524,244 |
| | | | LONG TERM DEBT: $7,990. | | | | Common $0.0001 par | | | |
Stockholders:
05/19/2008,
481.
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Transfer Agent: Interwest Transfer Co. Inc.
Salt Lake City
, UT | | | | OTC Bulletin Board( Primary): ATTG | | | | Exchange | Year | High | Low |
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| OTC Bulletin Board | 2007 | 1.6500 | 0.4800 | | OTC Bulletin Board | 2006 | 2.7500 | 0.4500 | | OTC Bulletin Board | 2005 | 7.7000 | 0.8100 | | OTC Bulletin Board | 2004 | 6.0000 | 5.0000 |
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| | | | DIVIDENDS: Common $0.0001 par: No cash.
Common split 1.6-for-1, Feb. 12, 2001. | | | | | |
so1Closely held. Consists of 50,000 shares of Series A (liquidation preference $1.00 per share); 1,500,000 shares of Series A2 (liquidation preference $5.00 per share); and 1,285,238 shares of Series C (liquidation preference $7.80 per share). | |
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