OTC Bulletin Board

S & P Company Insight for CEREPLAST INC
 
 Profile

 
Business Summary: Cereplast, Inc. develops and commercializes bio-based resins in the United States. Its bio-resins are primarily made of renewable resources, such as corn, tapioca, wheat, and potatoes; and are used as substitutes for conventional and petroleum-based plastics in a various applications.
 
Address
  3411-3433 W El Segundo Blvd
  Hawthorne , CA 90250
  Phone: 310-676-5000
  Fax: 310-676-5003
  Website: http://www.cereplast.com
Auditor
  HJ Associates & Consultants
Transfer Agent
  U.S. Stock Transfer Corp.
Employees:  58
ShareHolders:  218
Founded:  2001
Domicile:  Nevada
 
  
 
 Background

 
Cereplast, Inc. develops and commercializes bio-based resins in the United States. Its bio-resins are primarily made of renewable resources, such as corn, tapioca, wheat, and potatoes; and are used as substitutes for conventional and petroleum-based plastics in a various applications. The company's resins are also used in various conventional converting processes, including injection molding, thermoforming, blow film, blow molding, and extrusion. In addition, its products are used in various applications and markets, including automotive, consumer electronics, medical, cosmetic packaging, furniture, and construction. Further, Cereplast serves plastic converters in the foodservice disposable packaging market. The company was incorporated in 2001. It was formerly known as Biocorp North America, Inc. and changed its name to Cereplast, Inc. in 2005. Cereplast is headquartered in Hawthorne, California.
History:  INCORPORATED in Nevada Sept. 14, 2001, as Biocorp North America, Inc.; name changed to NAT-UR, Inc. July 19, 2004, and to Cereplast, Inc. Mar. 18, 2005.
 
 
Capital Expenditures, thousand. US Dollars
  Year  Amount
  2007  1,419
  2006  965
  2005  114
 
Research and Development Expenditures, thousand. US Dollars
  Year  Amount
  2007  321
  2006  155
  2005  108
 
  
 
 Management

 

Management
OfficersPosition
 Frederic  ScheerChairman, Chief Financial Officer, Chief Accounting Officer & Chief Executive Officer
 Randy G. WoefelPresident & Chief Operating Officer
 Margaret  McMurrayChief Administrative Officer
 William  KellyChief Technology Officer
 Shriram  BagrodiaSR VP
 Jerome  RaphanaudSR VP
 Alec  PettigrewSR VP
 Mark  BartonSR VP

Directors
 Stephan  Garden
 Petros  Kitsos
 Frederic  Scheer
 Jacques  Vincent
 Randy G. Woefel
 
  
 
 Annual Report

 
Annual Report
 
Income Statement
  20072006
GROSS SALES$2,348,068$836,729
Sales Discounts, Returns & Allowances(168,070)(110,278)
NET SALES2,179,998726,451
COST OF SALES2,090,730641,602
GROSS PROFIT89,26884,849
OPERATING EXPENSES
Depreciation and Amortization373,687147,820
Financing Discount Costs3,243,460412,653
Marketing Expense252,275358,242
Professional Fees856,705413,115
Rent Expense367,276168,359
Research & Development321,450155,409
Salaries & Wages2,027,539683,617
Salaries & Wages - Stock Based Compensation3,142,477444,512
Other Operating Expenses1,429,672633,405
TOTAL OPERATING EXPENSES12,014,5413,417,132
Interest Income285,0836,203
Interest Expense(38,045)(57,673)
NET LOSS $(11,678,235)$(3,383,753)
BASIC AND DILUTED LOSS PER SHARE $(0.05)$(0.02)
 
Balance Sheet
  20072006
ASSETS
Current Assets
Cash$8,593,714$205,023
Accounts Receivable, Net431,020132,470
Inventory1,827,667976,079
Prepaid Expenses and Other Current Assets67,59048,059
Total Current Assets10,919,9911,361,631
Net Property and Equipment2,251,5951,201,482
Other Assets
Restricted Cash72,892--
Investments500500
Intangibles, Net18,72123,841
Deposits30,47826,344
Total Other Assets122,59150,685
Total Assets$13,294,177$2,613,798
LIABILITIES AND SHAREHOLDERS EQUITY
Current Liabilities
Accounts Payable$600,289$766,950
Other Payable146901
Accrued Expenses152,94752,318
Credit Line--47,468
Other Notes Payable--617,666
Capital Leases, Current Portion71,81256,640
Loan Payable, Current Portion11,13910,413
Total Current Liabilities836,3331,552,356
Captial Leases87,440110,212
Loan Payable3,87415,016
Common Stock, $0.001 par value259,302203,267
Additional Paid in Capital28,730,5478,718,157
Deferred Equity Offering Cost--(3,040,125)
Retained Earnings/(Deficit)(16,623,319)(4,945,085)
Total Shareholders Equity12,366,530936,214
Total Liabilities and Shareholders Equity$13,294,177$2,613,798
 
  
 
 Interim Report

 
Interim Report   
 
Data Not Available
 
 
 
 
  
 
 Pro Forma Report

 
Pro Forma Report   
 
Data Not Available
 
 
 
 
  
 
 Quarterly Report

 
Quarterly Report Information   
 
Quarterly Revenue, US$
YearQuarterRevenue
  2008   1890,000
  2008   21,050,000
  2008   31,410,000
  2007   1390,000
  2007   2480,000
  2007   3630,000
  2007   4740,000
  2007   Full Year 2,180,000
  2006   1120,000
  2006   2160,000
  2006   3170,000
  2006   Full Year 730,000
  2005   3170,000
  2005   Full Year 540,000
  2004   Full Year 620,000
 
 
Quarterly Net Income, US$
YearQuarterRevenue
  2008   1Nil
  2008   2Nil
  2008   3Nil
  2007   1Nil
  2007   2Nil
  2007   3Nil
  2007   4Nil
  2007   Full Year (11,680,000)
  2006   1(420,000)
  2006   2(570,000)
  2006   3(1,140,000)
  2006   Full Year (3,383,800)
  2005   3(250,000)
  2005   Full Year (1,119,000)
  2004   Full Year (290,000)
  2003   Full Year (190,000)
 
 
Quarterly EPS, US$
YearQuarterRevenue
  2008   1(.01)
  2008   2(.01)
  2008   3(.01)
  2007   1(.01)
  2007   2(.01)
  2007   3(.01)
  2007   4(.03)
  2007   Full Year (.05)
  2006   1Nil
  2006   2Nil
  2006   3(.01)
  2006   Full Year (.02)
  2005   3Nil
  2005   Full Year (.01)
  2004   Full Year Nil
 
  
 
 Stock Data

 
 
Capitalization as of 06/30/2008:
 
 Authorized SharesOutstanding Shares
Common $0.001 par495,000,000262,277,595
Preferred $0.001 par5,000,000None
 
LONG TERM DEBT: $60,510.
 
Common $0.001 par
 
Stockholders:  02/29/2008, 218.
PRINCIPAL STOCKHOLDERS: March 6, 2008, Frederic Scheer owned or controlled 43.0% of the Common.
 
Transfer Agent:  U.S. Stock Transfer Corp.   Glendale , CA
 
OTC Bulletin Board( Primary): CERP
 
ExchangeYearHighLow
OTC Bulletin Board20080.71000.0700
OTC Bulletin Board20070.95000.1000
OTC Bulletin Board20061.50000.2900
OTC Bulletin Board20050.31000.1500
 
DIVIDENDS: Common $0.001 par: No cash. Common split 33-for-1, Mar. 18, 2005.