 |
| | Business Summary: American Soil Technologies, Inc. engages in the development, manufacture, and marketing of polymer and other soil amendments to the agricultural, turf, and horticulture industries primarily in the United States. | | | Address
12224 Montague St.
Pacoima
, CA 91331-2206
Phone: 818-899-4686
Website: http://www.americansoiltech.com
| | Auditor |
|---|
Epstein, Weber & Conover
Scottsdale
, AZ | | Transfer Agent |
|---|
Standard Registrar & Transfer Co.
| Employees: 8
ShareHolders: 828 | Founded: 1985
Domicile: Nevada | | | |
| | American Soil Technologies, Inc. engages in the development, manufacture, and marketing of polymer and other soil amendments to the agricultural, turf, and horticulture industries primarily in the United States. Its products primarily include Agriblend, a soil amendment; Soil Medic, a slow release liquid fertilizer; and Nutrimoist, developed for homes, parks, golf courses, and other turf related applications. The company's products are used to decrease water usage, increase nutrient retention in soil, enhance seed germination and sprout emergence, clarify ponds, and increase the effectiveness of chemical fertilizers and biological additives. It markets its products through sales representatives and distributors. The company is based in Pacoima, California. | | History: INCORPORATED in Nevada Jan. 9, 1997, as New Directions Manufacturing, Inc.; and on Apr. 11, 1997, merged Premier Ventures & Exploration, Inc. (Predecessor). Name changed to American Soil Technologies, Inc. Jan. 7, 2000.
Predecessor was incorporated in Louisiana in 1985 as Omni-Answers, Inc. Name changed to Premier Ventures & Exploration, Inc. in 1996. | | | | Subsidiaries: |
|---|
Smart World Organics, Inc.
| | | | | | Capital Expenditures, thousand. US Dollars |
|---|
| Year | Amount | | 2008 | 17 |
| | | | | | Research and Development Expenditures, thousand. US Dollars |
|---|
| Year | Amount | | 2008 | 0 |
| | | | | |
|
Management
|
|---|
| Officers | Position |
|---|
| Carl P. Ranno | President, Chief Financial Officer & Chief Executive Officer | | Diana Visco | Secretary & Investor Relations Contact |
| | Directors |
|---|
| Scott Baker | | Neil C. Kitchen | | Carl P. Ranno | | | |
| | | | Capitalization as of 09/30/2008: | | | | | Authorized Shares | Outstanding Shares |
|---|
| Series A Preferred | 25,000,000 | 2,763,699so1 | | Common $0.001 par | 100,000,000 | 60,965,590 |
| | | | LONG TERM DEBT: $26,517. | | | | Common $0.001 par | | | |
Stockholders:
01/09/2009,
828.
| | PRINCIPAL STOCKHOLDERS: January 12, 2009, FLD Corporation owned or controlled 29.3% of the Common, and UTEK Corporation 10.5%. | | | |
Transfer Agent: Standard Registrar & Transfer Co.
Draper
, UT | | | | OTC Bulletin Board( Primary): SOYL | | | | Exchange | Year | High | Low |
|---|
| OTC Bulletin Board | 2008 | 0.1800 | 0.0100 | | OTC Bulletin Board | 2007 | 0.3500 | 0.0600 | | OTC Bulletin Board | 2006 | 0.9500 | 0.1700 | | OTC Bulletin Board | 2005 | 0.8500 | 0.2100 | | OTC Bulletin Board | 2004 | 1.0500 | 0.2300 | | OTC Bulletin Board | 2003 | 0.4100 | 0.0300 | | OTC Bulletin Board | 2002 | 0.6300 | 0.0500 | | OTC Bulletin Board | 2001 | 2.7500 | 0.3600 | | OTC Bulletin Board | 2000 | 12.5000 | 1.3750 |
|
| | | | DIVIDENDS: Common $0.001 par: None. | | | | | |
so1Consists of Series A Convertible Preferred. Dividend rate is equal to the prime rate. Series A shares are convertible into Common shares on a one-for-one basis. | |
| | Annual Report |
|---|
| | | Income Statement | |
| 2008 | 2007 |
|---|
| REVENUES |
|
| | Net Revenues | 561,704 | 764,591 | | EXPENSES |
|
| | Cost of Goods Sold (excluding Amortization of Intangible Assets) | (344,884) | (473,147) | | General and Administrative | (1,521,717) | (1,557,532) | | Sales and Marketing | (120,355) | (190,261) | | Research and Development | - | (9,801) | | Amortization of Intangible Assets | (507,157) | (293,672) | | Impairment of Intangible Assets | (845,390) | (400,000) | | Interest Income | - | 27 | | Interest Expense and Related Costs | (347,337) | (1,328,291) | | Change in Fair Value of Derivative Liability | 459,947 | 371,179 | | Other Income/expense | 8,907 | 17,226 | | Sales of Equipment | (21,794) | (11,549) | | Earnings before Taxes | (2,678,076) | (3,111,230) | | TAXES AND OTHER EXPENSES |
|
| | Provision for Income Tax | (800) | (800) | | Net Income (Loss) | (2,678,876) | (3,112,030) | | SUPPLEMENTARY INFO |
|
| | Gross Profit/loss | 216,820.00 | 291,444.00 | | Operating Income (Loss) | (2,777,799.00) | (2,159,822.00) | | Basic Eps-continuing Operations | (0.05) | (0.07) | | Diluted EPS | (0.05) | (0.07) |
| | | | Balance Sheet | |
| 2008 | 2007 |
|---|
| Assets- |
|
| | CURRENT ASSETS |
|
| | Cash and Cash Equivalents | 6,286 | 34,855 | | Accounts Receivables | 50,954 | 61,008 | | Inventories | 139,324 | 250,066 | | Prepaid Expenses and Other Current Assets | 36,123 | 32,975 | | Total Current Assets | 232,687 | 378,904 | | NON CURRENT ASSETS |
|
| | Property and Equipment, net | 151,728 | 304,470 | | Goodwill | 364,600 | 364,600 | | Intangible Assets | 1,407,553 | 2,760,100 | | Deposits and Other Assets | 217,756 | 133,970 | | Total Assets | 2,374,324 | 3,942,044 | | Liabilities- |
|
| | CURRENT LIABILITIES |
|
| | Accounts Payable | 993,363 | 579,320 | | Accrued Expenses | 529,104 | 195,148 | | Notes Payable | 1,947,862 | 1,788,997 | | Notes Payable to Related Parties | 917,612 | 89,005 | | Capital Lease Obligations | 16,358 | 19,956 | | Derivative Liability | 11,580 | 471,527 | | Total Current Liabilities | 4,415,879 | 3,143,953 | | NON CURRENT LIABILITIES |
|
| | Notes Payable | 3,729 | 206,096 | | Debentures Payable-related Parties | - | 1,035,303 | | Capital Lease Obligations | 22,788 | 39,147 | | Preferred Stock Convertible | 1,381,849 | 1,381,849 | | SHAREHOLDERS' EQUITY |
|
| | Common Stock-par Value | 60,966 | 52,674 | | Additional Paid in Capital | 19,473,604 | 18,388,636 | | Accumulated Deficit | (22,984,490) | (20,305,614) | | Total Shareholders Equity | (2,068,072) | (482,455) | | Total Liabilities & Shareholders Equity | 2,374,324 | 3,942,044 |
| | | |
| | Interim Report
|
|---|
| | | Data Not Available | | | | | | | | | |
| | Pro Forma Report
|
|---|
| | | Data Not Available | | | | | | | | | |
| | Quarterly Report Information
|
|---|
| | | Quarterly Revenue, US$ |
|---|
| Year | Quarter | Revenue | | 2009 |
1 | 70,000 | | 2008 |
1 | 80,000 | | 2008 |
2 | 210,000 | | 2008 |
3 | 140,000 | | 2008 |
4 | 120,000 | | 2008 |
Full Year
| 560,000 | | 2007 |
1 | 250,000 | | 2007 |
2 | 330,000 | | 2007 |
3 | 330,000 | | 2007 |
4 | 180,000 | | 2007 |
Full Year
| 910,000 | | 2006 |
1 | 120,000 | | 2006 |
2 | 240,000 | | 2006 |
3 | 80,000 | | 2006 |
4 | 150,000 | | 2006 |
Full Year
| 590,000 | | 2005 |
1 | 250,000 | | 2005 |
2 | 220,000 | | 2005 |
3 | 50,000 | | 2005 |
4 | 130,000 | | 2005 |
Full Year
| 640,000 | | 2004 |
1 | 240,000 | | 2004 |
2 | 140,000 | | 2004 |
3 | 160,000 | | 2004 |
4 | 50,000 | | 2004 |
Full Year
| 600,000 |
| | | | | | Quarterly Net Income, US$ |
|---|
| Year | Quarter | Revenue | | 2009 |
1 | (340,000) | | 2008 |
1 | (410,000) | | 2008 |
2 | (470,000) | | 2008 |
3 | (490,000) | | 2008 |
4 | (1,300,000) | | 2008 |
Full Year
| (2,680,000) | | 2007 |
1 | (640,000) | | 2007 |
2 | (730,000) | | 2007 |
3 | (730,000) | | 2007 |
Full Year
| (4,540,000) | | 2006 |
1 | (670,000) | | 2006 |
2 | (580,000) | | 2006 |
3 | (520,000) | | 2006 |
Full Year
| (2,311,900) | | 2005 |
1 | (750,000) | | 2005 |
2 | (340,000) | | 2005 |
3 | (450,000) | | 2005 |
Full Year
| (2,075,400) | | 2004 |
1 | (400,000) | | 2004 |
2 | (370,000) | | 2004 |
3 | (390,000) | | 2004 |
Full Year
| (1,654,800) |
| | | | | | Quarterly EPS, US$ |
|---|
| Year | Quarter | Revenue | | 2009 |
1 | (.01) | | 2008 |
1 | (.01) | | 2008 |
2 | (.01) | | 2008 |
3 | (.01) | | 2008 |
4 | (.02) | | 2008 |
Full Year
| (.05) | | 2007 |
1 | (.02) | | 2007 |
2 | (.02) | | 2007 |
3 | (.02) | | 2007 |
4 | (.03) | | 2007 |
Full Year
| (.11) | | 2006 |
1 | (.03) | | 2006 |
2 | (.02) | | 2006 |
3 | (.02) | | 2006 |
4 | (.02) | | 2006 |
Full Year
| (.08) | | 2005 |
1 | (.05) | | 2005 |
2 | (.02) | | 2005 |
3 | (.02) | | 2005 |
4 | (.02) | | 2005 |
Full Year
| (.10) | | 2004 |
1 | (.04) | | 2004 |
2 | (.04) | | 2004 |
3 | (.04) | | 2004 |
4 | (.04) | | 2004 |
Full Year
| (.16) |
| | | |
| |
|
