OTC Bulletin Board

S & P Company Insight for CAPSOURCE FINANCIAL
 
 Profile

 
Business Summary: CapSource Financial, Inc., through its subsidiaries, engages in selling and leasing transportation equipment, primarily dry van and refrigerated truck trailers in the United States and Mexico. The company markets new and used truck trailers in the southwest United States.
 
Address
  2305 Canyon Boulevard
  Suite 103
  Boulder , CO 80302-5620
  Phone: 303-245-0515
  Fax: 303-245-0521
  Website: http://www.capsource-financial.com
Auditor
  Gordon Hughes & Banks
Transfer Agent
  U.S. Stock Transfer Corp.
Employees:  21
ShareHolders:  75
Founded:  1996
Domicile:  Colorado
 
  
 
 Background

 
CapSource Financial, Inc., through its subsidiaries, engages in selling and leasing transportation equipment, primarily dry van and refrigerated truck trailers in the United States and Mexico. The company markets new and used truck trailers in the southwest United States. It also owns and manages a lease/rental fleet of over-the-road truck trailers and related equipment. The company's rental fleet primarily consists of dry vans, flat beds, and trailer dollies. As of December 31, 2007, it owned 127 units. In addition, CapSource Financial, Inc. operates as a dealer for Hyundai truck trailers and related equipment. The company was founded in 1996 and is based in Boulder, Colorado with an additional office in St. Paul, Minnesota, as well as operating offices in Mexico and California.
History:  INCORPORATED in Colorado Feb. 16, 1996, as Mexican-American-Canadian Trailer Rentals, Inc. Name changed to CapSource Financial, Inc. June 3, 1999.
 
Subsidiaries:
Remolques y Sistemas Aliados de Transportacion, S.A. de C.V.
Rentas y Remolques de Mexico, S.A. de C.V.
 
 
Capital Expenditures, thousand. US Dollars
  Year  Amount
  2007  394
  2006  169
  2005  190
 
Research and Development Expenditures, thousand. US Dollars
  Year  Amount
  2007  0
 
  
 
 Management

 

Management
OfficersPosition
 Randolph M. PentelChairman
 Fred C. BoethlingPresident & Chief Executive Officer
 Alejandro  SanchezChief Financial Officer
 Steven E. ReichertSecretary & General Counsel

Directors
 Fred C. Boethling
 Lynch  Grattan
 Randolph M. Pentel
 Steven E. Reichert
 
  
 
 Annual Report

 
Annual Report
 
Income Statement
  20072006
Equipment sales$45,348,652$35,726,252
Rental income from operating leases500,100502,272
Other54,72357,760
Total sales45,903,47536,286,284
Direct cost of equipment sales42,657,57733,580,175
Depreciation and direct cost of trailers under operating leases396,085354,246
Total cost of sales43,053,66233,934,421
Gross profit2,849,8132,351,863
Selling, general and administrative expenses3,480,7363,739,314
Operating loss (630,923)(1,387,451)
Other expense:
Interest expense, net (1,002,368)(365,103)
Foreign exchange losses, net (62,037)(27,947)
Total other expense, net (1,064,405)(393,050)
Loss before provision for income taxes (1,695,328)(1,780,501)
Provision for income taxes (70,467)(48,701)
Net loss $(1,765,795)$(1,829,202)
Net loss per basic and diluted share $(0.09)$(0.11)
 
Balance Sheet
  20072006
Assets
Current assets:
Cash and cash equivalents$426,191$655,825
Rents and accounts receivable, net1,040,9421,454,464
Mexican value-added taxes receivable137,1941,174,527
Inventory5,718,48913,601,331
Advances to vendors14,536730,963
Prepaid insurance and other current assets121,67477,981
Total current assets7,459,02617,695,091
Property and equipment, net 1,241,5771,135,051
Other assets27,35538,494
Intangible assets, net 332,260431,938
Total assets$9,060,218$19,300,574
Liabilities and Stockholders Equity
Current liabilities:
Accounts payable and accrued expenses$1,699,639$9,837,829
Deposits and advance payments151,3161,384,201
Notes payable 3,327,7363,246,765
Payable to stockholder 2,641,5591,546,668
Total current liabilities7,820,25016,015,463
Notes payable746,6521,026,000
Common stock, $.01 par value204,333204,333
Additional paid-in capital15,213,32515,213,325
Accumulated deficit (14,924,342)(13,158,547)
Total stockholders equity493,3162,259,111
Total liabilities and stockholders equity$9,060,218$19,300,574
 
  
 
 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   12,090,000
  2008   26,870,000
  2007   110,660,000
  2007   210,140,000
  2007   314,190,000
  2007   410,910,000
  2007   Full Year 45,900,000
  2006   15,490,000
  2006   24,300,000
  2006   310,970,000
  2006   Full Year 36,290,000
  2005   13,180,000
  2005   26,060,000
  2005   36,080,000
  2005   Full Year 20,610,000
  2004   11,330,000
  2004   21,400,000
  2004   31,970,000
  2004   Full Year 7,220,000
  2003   1770,000
  2003   21,110,000
  2003   31,970,000
  2003   42,360,000
  2003   Full Year 6,210,000
 
 
Quarterly Net Income, US$
YearQuarterRevenue
  2008   1(810,000)
  2008   2(250,000)
  2007   1(340,000)
  2007   2(290,000)
  2007   3(470,000)
  2007   4(660,000)
  2006   1(230,000)
  2006   2(1,190,000)
  2006   3(190,000)
  2006   Full Year (1,829,200)
  2005   1(720,000)
  2005   2(330,000)
  2005   3(270,000)
  2005   Full Year (1,794,500)
  2004   1(310,000)
  2004   2(420,000)
  2004   3(340,000)
  2004   Full Year (1,576,200)
  2003   1(420,000)
  2003   2(460,000)
  2003   3(520,000)
  2003   4(870,000)
  2003   Full Year (2,267,500)
 
 
Quarterly EPS, US$
YearQuarterRevenue
  2008   1(.04)
  2008   2(.01)
  2007   1(.02)
  2007   2(.01)
  2007   3(.02)
  2007   4(.03)
  2007   Full Year (.09)
  2006   1(.02)
  2006   2(.07)
  2006   3(.01)
  2006   Full Year (.11)
  2005   1(.07)
  2005   2(.03)
  2005   3(.02)
  2005   Full Year (.16)
  2004   1(.03)
  2004   2(.04)
  2004   3(.03)
  2004   Full Year (.16)
  2003   1(.05)
  2003   2(.06)
  2003   3(.06)
  2003   4(.10)
  2003   Full Year (.27)
 
  
 
 Stock Data

 
 
Capitalization as of 03/31/2008:
 
 Authorized SharesOutstanding Shares
Common $0.01 par100,000,00020,433,321
Preferred $0.01 parN.R.None
 
LONG TERM DEBT: $1,032,978.
 
Common $0.01 par
 
COMMON OFFERED: March 4, 2003, the company, through underwriter Public Securities, Inc., offered up to 3,000,000 Common shares at $1.75 per share; comm., $0.175 per share. Offering was on a best efforts, 300,000 shares minimum - 3,000,000 shares maximum basis. Offering was to continue until all shares were sold or for four months, whichever occurred first-- 348,339 shares were sold.
 
Stockholders:  03/29/2008, 75.
PRINCIPAL STOCKHOLDERS: March 31, 2008, Randolph Pentel owned or controlled 53.7% of the Common, Pandora Select Partners LP 19.6% and Whitebox Intermarket Partners LP 19.5%.
 
Transfer Agent:  U.S. Stock Transfer Corp.   Glendale , CA
 
OTC Bulletin Board( Primary): CPSO
 
ExchangeYearHighLow
OTC Bulletin Board20072.00000.3000
OTC Bulletin Board20062.50000.6100
OTC Bulletin Board20051.01000.4800
OTC Bulletin Board20042.25000.5100
 
DIVIDENDS: Common $0.01 par: None.