OTC Bulletin Board
S & P Company Insight for MARKETING WORLDWIDE |
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Profile
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| Business Summary: Marketing Worldwide Corporation, through its subsidiaries, engages in the design, import, and distribution of automotive accessories for motor vehicles in the automotive aftermarket industry. It also offers design services and accessory programs for the transportation industry. | | | Address 2212 Grand Commerce Drive
Howell
, MI 48855
Phone: 517-540-0045
Fax: 517-540-0923
Website: http://www.mwwautomotive.com
| | Auditor |
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Russell Bedford Stefanou Mirchandani
New York | | Transfer Agent |
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Continental Stock & Transfer Co.
| Employees: 62 ShareHolders: 46 | Founded: 2003 Domicile: Delaware | | | |
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Background
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| Marketing Worldwide Corporation, through its subsidiaries, engages in the design, import, and distribution of automotive accessories for motor vehicles in the automotive aftermarket industry. It also offers design services and accessory programs for the transportation industry. An accessory program refers to a package of goods and services related to a single accessory for a particular type of automobile. The company's principal products include automotive body components, such as rear deck spoilers, running boards, body side moldings, stainless steel exhaust systems, side skirts or front ends, carbon fiber seat heater systems, and lights and fixtures. It sells its products to automobile manufacturers and its vehicle processing centers and distributors in the United States, Canada, Mexico, and Europe. Marketing Worldwide Corporation was founded in 1997 and is headquartered in Howell, Michigan. | | History: INCORPORATED in Delaware July 21, 2003.
October 31, 2003, issued 9,600,000 Common shares to acquire the membership interests in Marketing Worldwide LLC (MWWLLC), a Michigan limited liability company, in a tax-free exchange whereby MWWLLC became a wholly owned subsidiary of the company.
May 24, 2007, acquired Colortek, Inc. in exchange for 400,000 shares of the company's Common stock. | | | | Subsidiaries: |
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Colortek, Inc. Marketing Worldwide LLC Modelworxx GmbH MW Global Limited
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Management
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Management
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| Officers | Position |
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| Michael Winzkowski | Chairman, President, Secretary & Chief Executive Officer | | James E. Davis | Chief Financial Officer | | Adam S. Holdsworth | Investor Relations Contact |
| | Directors |
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| Michael Winzkowski | | | |
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Annual Report
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| Annual Report |
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| | | Income Statement | |
| 2009 | 2008 |
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| REVENUES |
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| | Services | 395,071 | 1,676,082 | | Sales | 4,112,870 | 6,629,579 | | Total Revenues | 4,507,941 | 8,305,661 | | EXPENSES |
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| | Cost of Services Provided | (482,119) | (1,445,148) | | Cost of Goods Sold | (2,511,477) | (4,198,919) | | Selling, General and Administrative Expenses | (4,209,179) | (4,818,937) | | Financial Expenses | (271,938) | (177,878) | | Other Income/expense | 60,112 | 90,863 | | Loss of Disposal of Equipment | (33,260) | - | | Earnings before Taxes | (2,939,920) | (2,244,358) | | TAXES AND OTHER EXPENSES |
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| | Provision for Income Tax | - | 4,592 | | Minority Interest (After Tax) | 24,298 | (35,422) | | Net Income (Loss) | (2,915,622) | (2,275,188) | | CHARGES ON NET INCOME |
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| | Dividends on Preferred Stock | (315,000) | (315,000) | | Net Income Available to Common Shareholders | (3,230,622) | (2,590,188) | | SUPPLEMENTARY INFO |
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| | Gross Profit/loss | 1,514,345.00 | 2,661,594.00 | | Operating Income (Loss) | (694,834.00) | (2,157,343.00) | | Basic EPS - Continuing Operations | (0.19) | (0.16) | | Diluted EPS - Continuing Operations | (0.19) | (0.16) |
| | | | Balance Sheet | |
| 2009 | 2008 |
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| ASSETS |
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| | Cash and Cash Equivalents | 114,482 | 1,003,071 | | Accounts Receivables | 844,679 | 1,150,871 | | Inventories | 615,910 | 1,107,478 | | Deferred Income Taxes | - | 188,271 | | Other Current Assets | 28,034 | 102,577 | | Total Current Assets | 1,603,105 | 3,552,268 | | NON CURRENT ASSETS |
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| | Property, Plant and Equipment, Net | 3,052,522 | 3,456,624 | | Other Intangible Assets | 80,000 | 110,000 | | Capitalized Finance Costs, Net | 337,750 | 470,043 | | Other Assets | 48,750 | 71,412 | | Total Assets | 5,122,127 | 7,660,347 | | LIABILITIES |
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| | Accounts Payable | 1,109,207 | 865,058 | | Warranty Liability | 66,216 | 126,983 | | Line-of-credit | 739,832 | 400,000 | | Notes Payable and Capital Leases, Current Portion | 1,919,692 | 1,356,002 | | Other Current Liabilities | 407,834 | 621,117 | | Total Current Liabilities | 4,242,781 | 3,369,160 | | NON CURRENT LIABILITIES |
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| | Notes Payable-long-term | - | 653,776 | | Capital Lease, Long-term | 21,247 | 38,230 | | Minority Interest | - | 134,298 | | Preferred Stock Convertible | 3,499,950 | 3,499,950 | | Preferred Stock Convertible | 1,192 | 1,192 | | SHAREHOLDERS' EQUITY |
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| | Common Stock - Par Value | 17,835 | 16,545 | | Additional Paid in Capital | 9,639,388 | 8,993,683 | | Deficit | (12,192,340) | (8,961,715) | | Accumulated Other Comprehensive Income (Loss) | (107,929) | (84,772) | | Total Shareholders Equity | (2,641,851) | (35,067) | | Total Liabilities & Shareholders Equity | 5,122,127 | 7,660,347 |
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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 | | 2010 |
1 | 1,510,000 | | 2010 |
2 | 980,000 | | 2009 |
1 | 1,400,000 | | 2009 |
2 | 630,000 | | 2009 |
3 | 1,010,000 | | 2009 |
4 | 1,470,000 | | 2009 |
Full Year
| 4,510,000 | | 2008 |
1 | 2,730,000 | | 2008 |
2 | 2,290,000 | | 2008 |
3 | 1,880,000 | | 2008 |
4 | 1,410,000 | | 2008 |
Full Year
| 8,310,000 | | 2007 |
1 | 2,160,000 | | 2007 |
2 | 2,240,000 | | 2007 |
3 | 1,560,000 | | 2007 |
4 | 1,490,000 | | 2007 |
Full Year
| 7,450,000 | | 2006 |
1 | 1,950,000 | | 2006 |
2 | 2,260,000 | | 2006 |
3 | 2,380,000 | | 2006 |
4 | 2,880,000 | | 2006 |
Full Year
| 9,480,000 | | 2005 |
1 | 1,620,000 | | 2005 |
2 | 1,870,000 | | 2005 |
3 | 2,250,000 | | 2005 |
4 | 2,350,000 | | 2005 |
Full Year
| 8,100,000 |
| | | | | | Quarterly Net Income, US$ |
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| Year | Quarter | Revenue | | 2010 |
1 | (4,310,000) | | 2010 |
2 | 2,510,000 | | 2009 |
1 | (860,000) | | 2009 |
2 | (850,000) | | 2009 |
3 | (440,000) | | 2009 |
4 | (840,000) | | 2009 |
Full Year
| (2,920,000) | | 2008 |
1 | (370,000) | | 2008 |
2 | (230,000) | | 2008 |
3 | (460,000) | | 2008 |
4 | (1,530,000) | | 2008 |
Full Year
| (2,590,000) | | 2007 |
1 | 30,000 | | 2007 |
2 | 130,000 | | 2007 |
3 | (5,140,000) | | 2007 |
Full Year
| (6,920,000) | | 2006 |
Full Year
| 310,000 | | 2005 |
Full Year
| 180,000 |
| | | | | | Quarterly EPS, US$ |
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| Year | Quarter | Revenue | | 2010 |
1 | (.24) | | 2010 |
2 | (.06) | | 2009 |
1 | (.05) | | 2009 |
2 | (.05) | | 2009 |
3 | (.03) | | 2009 |
4 | (.05) | | 2009 |
Full Year
| (.19) | | 2008 |
1 | (.02) | | 2008 |
2 | (.01) | | 2008 |
3 | (.03) | | 2008 |
4 | (.10) | | 2008 |
Full Year
| (.16) | | 2007 |
1 | Nil | | 2007 |
2 | Nil | | 2007 |
3 | (.45) | | 2007 |
4 | (.08) | | 2007 |
Full Year
| (.47) | | 2006 |
1 | Nil | | 2006 |
2 | Nil | | 2006 |
3 | .01 | | 2006 |
4 | .02 | | 2006 |
Full Year
| .02 | | 2005 |
1 | Nil | | 2005 |
2 | Nil | | 2005 |
3 | .01 | | 2005 |
4 | .02 | | 2005 |
Full Year
| .02 |
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Stock Data
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| | | Capitalization as of 09/30/2009: | | | | | Authorized Shares | Outstanding Shares |
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| Common $0.001 par | 100,000,000 | 17,835,091 | | Preferred $0.001 par | 10,000,000 | 4,692,308so2 |
| | | | LONG TERM DEBT: $21,247. | | | | Common $0.001 par | | | |
Stockholders:
01/04/2010,
46.
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Transfer Agent: Continental Stock & Transfer Co.
New York
, NY | | | | OTC Bulletin Board( Primary): MWWC | | | | Exchange | Year | High | Low |
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| OTC Bulletin Board | 2009 | 0.5500 | 0.0500 | | OTC Bulletin Board | 2008 | 0.8000 | 0.0500 | | OTC Bulletin Board | 2007 | 0.9000 | 0.4000 | | OTC Bulletin Board | 2006 | 1.2500 | 0.3500 |
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| | | | DIVIDENDS: Common $0.001 par: None. | | | | | |
so2Consists of 3,500,000 Series A Conv. Preferred shares and 1,192,308 Series B Conv. Preferred shares. Series A is convertible into Common at a price based on the liquidation preference ($1 per share) plus dividends divided by the conversion price ($0.50 per share), subject to adjustments. Series B is convertible into Common at an initial conversion price of $16.90, subject to adjustments. | |
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