OTC Bulletin Board
S & P Company Insight for EAUTOCLAIMS INC |
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Profile
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| Business Summary: eAutoclaims, Inc. provides Internet-based vehicle collision claims services for insurance companies, managing general agents, third party claims administrators, and self-insured automobile fleet management companies in the United States and Canada. | | | Address 110 E. Douglas Road
Oldsmar
, FL 34677
Phone: 813-749-1020
Website: http://www.eautoclaims.com
| | | Transfer Agent |
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Equity Transfer Services Inc.
| Employees: 60 ShareHolders: 235 | Founded: 1995 Domicile: Nevada | | | |
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Background
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| eAutoclaims, Inc. provides Internet-based vehicle collision claims services for insurance companies, managing general agents, third party claims administrators, and self-insured automobile fleet management companies in the United States and Canada. It accepts assignment of claims from the customers and provides vehicle repairs through a network of repair shops. The company also provides online systems to connect clients with service providers of estimates, audits, and claims administration services. It offers eJusterSuite application, which provides outsourcing and application service provider solutions. The eJusterSuite allows carriers to manage appraisal assignments, monitor performance of appraisal sources through various metrics, and includes access to service partners for rental car procurement, assignment to salvage vendors, police report pick-up services, and several other service partners used by insurance adjusters. The company also provides AuditPro product, an estimate-auditing program, which allows an insurance company to create specific auditing guideline profiles based on state, county, zip, appraisal source, and a multitude of other environmental elements. In addition, it offers various outsourcing solutions, including centralized accident reporting; copies of accident reports; identifying the appropriate network repair facility and directing the policyholder to such facility; delivering repair estimates and photographs/digital images of damage to any location; auditing claims by in-house physical damage experts; assigning independent field appraiser; delivering parts and materials; computerized tracking and follow-up system; and replacement rental vehicles. The company was founded in 1995. It was formerly known as eAutoclaims.com, Inc. and changed its name to eAutoclaims, Inc. in 2004. eAutoclaims is based in Oldsmar, Florida. | | History: INCORPORATED in Nevada Aug. 7, 1996, as Samuel Hamann Graphix, Inc., to merge a California company of the same name (incorporated Oct. 26, 1995) July 22, 1997. Name changed to Transformation Processing, Inc. Mar. 19, 1997; to eAutoclaims.com, Inc. May 31, 2000; and to eAutoclaims, Inc. Oct. 26, 2004.
August 20, 1996, acquired Transformation Processing, Inc. (incorporated in Ontario Apr. 1, 1996) for 5,901,050 Common shares; and on Feb. 19, 1998, merged Transformation Processing, Inc. into the company.
August 23, 1999, filed a Notice of Intent for Division/Proposal Proceedings under the Bankruptcy and Insolvency Act of Canada, which is a method of reorganizing the financial affairs of a business to reduce or eliminate debt (the Proposal). On Nov. 25, 1999, the Superior Court of Justice for the Province of Ontario issued an Order approving the Proposal. The Proposal required Thomson Kernaghan & Co., Ltd. to deposit $375,000 with the trustee to satisfy obligations to the company's creditors under the Proposal. On May 8, 2000, BDO Dunwoody Limited, the Proposal trustee, executed a Certificate of Full Performance indicating the company had fully performed under the Proposal, which essentially discharged and compromised its debt that existed prior to Aug. 23, 1999. On May 31, 2000, the trustee received its discharge by an Order of the Canadian court.
May 31, 2000, merged eAutoclaims.com, Inc. (incorporated in Delaware Dec. 7, 1999) for 5,980,000 Common shares.
July 20, 2000, acquired Premier Express Claims, Inc. for $200,000 in cash, 320,000 Common shares, and $130,000 in the form of promissory notes. Premier was merged into the company on Feb. 1, 2001. | | | | | | Capital Expenditures, thousand. US Dollars |
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| Year | Amount | | 2007 | 325 |
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Management
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Management
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| Officers | Position |
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| William Austin Lewis, IV | Chairman | | Jeffrey D. Dickson | President & Chief Executive Officer | | Larry C. Colton | Secretary, Chief Accounting Officer & Chief Financial Officer | | Stacey Adams | Chief Operating Officer | | Marilyn Maginnes | Controller | | Jeffrey Dickson | Investor Relations Contact |
| | Directors |
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| Larry C. Colton | | Jeffrey D. Dickson | | Christopher Korge | | William Austin Lewis, IV | | John K. Pennington | | | |
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Annual Report
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| Annual Report |
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| | | Income Statement | |
| 2007 | 2006 |
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| Revenue: |
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| | Collision repairs management | 9,017,872 | 11,189,186 | | Fleet repairs management | 901,643 | 916,741 | | Fees and other revenue | 1,871,478 | 2,757,811 | | Total revenue | 11,790,993 | 14,863,738 | | Claims processing charges | 8,115,161 | 10,178,094 | | Selling, general and administrative expenses | 5,544,234 | 6,532,363 | | Depreciation and amortization | 454,772 | 459,133 | | Gain on Contract Termination | 1,944,637 |
| | Net loss | (378,537) | (2,305,852) | | Loss per common share-basic and diluted | Nil | ($0.04) | | Weighted-average shares | 83,713,683 | 70,822,785 |
| | | | Balance Sheet | |
| 2007 |
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| ASSETS |
| | Current Assets: |
| | Cash and cash equivalents | 795,047 | | Accounts receivable | 259,341 | | Prepaid expenses and other current assets | 88,415 | | Total current assets | 1,142,803 | | Property and equipment, net | 846,340 | | Restricted cash | 730,000 | | Goodwill | 1,093,843 | | Other assets | 35,800 | | Deferred income tax asset, net |
| | Total Assets | 3,848,786 | | LIABILITIES AND STOCKHOLDERS EQUITY |
| | Current Liabilities: |
| | Accounts payable, advanced payments and accrued expenses | 2,061,060 | | Notes payable, net of unamortized discount | 546,289 | | Current portion of capital lease obligation | 114,988 | | Current portion of deferred gain on building sale | 108,135 | | Total current liabilities | 2,830,472 | | Deferred gain on building sale, net of current portion | 477,599 | | Capital lease obligation | 198,924 | | Stockholders Equity |
| | Common stock - $0.001 par | 93,736 | | Additional paid-in capital | 30,739,288 | | Accumulated deficit | (30,444,051) | | Treasury Stock, at cost | (47,182) | | Total Stockholders Equity | 341,791 | | Total Liabilities and Stockholders Equity | 3,848,786 | | Common Shares | 93,736,071 | | Treasury Shares | 238,536 |
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Interim Report
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| Interim Report
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| | | Data Not Available | | | | | | | | | |
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Pro Forma Report
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| Pro Forma Report
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| | | Data Not Available | | | | | | | | | |
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Quarterly Report
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| Quarterly Report Information
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| | | Quarterly Revenue, US$ |
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| Year | Quarter | Revenue | | 2008 |
1 | 1,580,000 | | 2008 |
2 | 1,570,000 | | 2008 |
3 | 1,470,000 | | 2007 |
1 | 4,020,000 | | 2007 |
2 | 3,410,000 | | 2007 |
3 | 2,800,000 | | 2007 |
Full Year
| 11,790,000 | | 2006 |
1 | 3,800,000 | | 2006 |
2 | 4,390,000 | | 2006 |
3 | 3,990,000 | | 2006 |
4 | 3,440,000 | | 2006 |
Full Year
| 15,620,000 | | 2005 |
1 | 4,120,000 | | 2005 |
2 | 3,530,000 | | 2005 |
3 | 3,550,000 | | 2005 |
4 | 3,450,000 | | 2005 |
Full Year
| 14,650,000 | | 2004 |
1 | 8,690,000 | | 2004 |
2 | 7,510,000 | | 2004 |
3 | 6,560,000 | | 2004 |
4 | 4,400,000 | | 2004 |
Full Year
| 27,160,000 | | 2003 |
1 | 8,160,000 | | 2003 |
2 | 7,830,000 | | 2003 |
3 | 9,390,000 | | 2003 |
4 | 8,680,000 | | 2003 |
Full Year
| 34,060,000 |
| | | | | | Quarterly Net Income, US$ |
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| Year | Quarter | Revenue | | 2008 |
1 | (650,000) | | 2008 |
2 | (430,000) | | 2008 |
3 | (230,000) | | 2007 |
1 | (310,000) | | 2007 |
2 | (540,000) | | 2007 |
3 | 870,000 | | 2007 |
Full Year
| (380,000) | | 2006 |
1 | (490,000) | | 2006 |
2 | 0 | | 2006 |
3 | (830,000) | | 2006 |
4 | (300,000) | | 2006 |
Full Year
| (1,612,000) | | 2005 |
1 | (550,000) | | 2005 |
2 | (610,000) | | 2005 |
3 | (770,000) | | 2005 |
4 | (520,000) | | 2005 |
Full Year
| (2,444,300) | | 2004 |
1 | 10,000 | | 2004 |
2 | (220,000) | | 2004 |
3 | (1,340,000) | | 2004 |
4 | (660,000) | | 2004 |
Full Year
| (2,210,800) | | 2003 |
1 | (880,000) | | 2003 |
2 | (540,000) | | 2003 |
3 | 180,000 | | 2003 |
4 | 60,000 | | 2003 |
Full Year
| (1,184,300) |
| | | | | | Quarterly EPS, US$ |
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| Year | Quarter | Revenue | | 2008 |
1 | (.01) | | 2008 |
2 | Nil | | 2008 |
3 | Nil | | 2007 |
1 | Nil | | 2007 |
2 | (.01) | | 2007 |
3 | .01 | | 2007 |
Full Year
| Nil | | 2006 |
1 | (.02) | | 2006 |
2 | Nil | | 2006 |
3 | (.01) | | 2006 |
4 | Nil | | 2006 |
Full Year
| (.03) | | 2005 |
1 | (.02) | | 2005 |
2 | (.03) | | 2005 |
3 | (.02) | | 2005 |
4 | (.01) | | 2005 |
Full Year
| (.08) | | 2004 |
1 | Nil | | 2004 |
2 | (.01) | | 2004 |
3 | (.06) | | 2004 |
4 | (.02) | | 2004 |
Full Year
| (.09) | | 2003 |
1 | (.05) | | 2003 |
2 | (.03) | | 2003 |
3 | .01 | | 2003 |
4 | Nil | | 2003 |
Full Year
| (.06) |
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Stock Data
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| | | Capitalization as of 07/31/2007: | | | | | Authorized Shares | Outstanding Shares |
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| Common $0.001 par | 150,000,000 | 93,497,535so1 | | Preferred $0.001 par | 5,000,000 | None |
| | | | LONG TERM DEBT: $198,924. | | | | Common $0.001 par | | | |
Stockholders:
07/31/2007,
235.
| | PRINCIPAL STOCKHOLDERS: July 31, 2007, William Lewis owned or controlled 28.9% of the Common, and Christopher Korge 7.7%. | | | |
Transfer Agent: Equity Transfer Services Inc.
Toronto
, Ontario | | | | OTC Bulletin Board( Primary): EACC | | | | Exchange | Year | High | Low |
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| OTC Bulletin Board | 2007 | 0.2000 | 0.0500 | | OTC Bulletin Board | 2006 | 0.3600 | 0.1100 | | OTC Bulletin Board | 2005 | 0.3550 | 0.1000 | | OTC Bulletin Board | 2004 | 0.6000 | 0.1800 | | OTC Bulletin Board | 2003 | 0.6200 | 0.0800 | | OTC Bulletin Board | 2002 | 1.0300 | 0.0800 | | OTC Bulletin Board | 2001 | 2.8000 | 0.3800 | | OTC Bulletin Board | 2000 | 1.5000 | 0.7500 | | OTC Bulletin Board | 1999 | 4.1250 | 0.2188 | | OTC Bulletin Board | 1998 | 2.1875 | 0.2200 |
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| | | | DIVIDENDS: Common $0.001 par: No cash.
Common reverse split 1-for-25, Oct. 15, 1999. | | | | | |
so1Excl. 238,536 in treas. | |
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