MONROVIA, Calif., Aug. 20, 2014 (GLOBE NEWSWIRE) -- Everlert, Inc. (the "Company") (OTC:EVLI), reported its unaudited financial results for the quarter ended June 30, 2014. Below are just a few of the notable highlights reflected in the filing:
Highlights for the Quarter Ended June 30, 2014 vs December 31, 2013 & June 30, 2013
- The Company's gross margin percentage increased by 6% from 47% for Q2 2013 to 53% for Q2 2014. This is primarily due to the Company achieving a reduction in the cost of its inventory.
- The Company's cash position at June 30, 2014 was $40.4K, which was $6.2K greater than the $34.2K balance at December 31, 2013.
- The Company's Accounts Receivables balance increased by $13.2K, from $1.6K in FYE 2013 to $14.8K as of Q2 2014, due to an increase in sales for customers with credit terms.
- Total Long Term Liabilities decreased by $110K from $1.4M at December 31, 2013 to $1.3M at June 30, 2014, as a result of Management's focus on strengthening the Company's balance sheet and overall solvency.
- The Company was able to secure $435,000 in cash proceeds from the issuance of various financial instruments to accredited investors during Q1 and Q2 of 2014. These funds have been helpful in assisting the Company in achieving its aggressive growth targets.
- Of the Company's $6.2M Accumulated deficit, $4.1M (66% of total deficit) was attributable and separately classified in the balance sheet as being related to discontinued operations that occurred prior to the Totalpost merger in 2012, meaning the current operations only resulted in a $2M accumulated deficit since the merger.
- The Company was able to restructure a sizeable portion of its capital structure by working with its largest shareholder to exchange 550M shares of common stock for 100M shares of Preferred, Class "D" stock.
- The Company has had the wherewithal to invest approximately $94K during the first two quarters of 2014 to develop its new product line relating to Forensic X-Ray Scanners (i.e., Flatscan).
- The Company has hired three new senior members of the management team during the first two quarters of 2014, including a new CEO, VP of Mergers and Acquisitions, and a Director of Compliance.
- The Company covered the costs of preparing for three high-profile industry trade shows so far this year, which has helped build the Company's brand recognition in its respective industries and increase sales.
- The Company has made significant progress in completing the audits of two years of its financial statements through its auditor Kyle Tingle, CPA. The Company expects the audits to be completed during Q3.
John Taylor, Director of the Company, stated, "The Company's performance, as of the second quarter, is in-line with Management's targets for this year. We are striving to continue to strengthen the Company's balance sheet by retiring debt and expect to see an increase in sales during the remaining half of the year."
The Second Quarter Report (2014) is available on the OTC Markets at the following link:
Everlert, Inc. is in the business of Mail Management solutions and management through Totalpost Services, Inc., it is one of the most prominent providers of quality ink cartridges in the U.S. postage meter industry. Pitney Bowes, Neopost/Hasler, FP are a few of the meter cartridge manufactures that Everlert produces and distributes compatible cartridges for their machines. Virtually all U.S. based businesses use a postage meter cartridge on a daily basis to fulfill their mailing needs, creating a large demand for our quality cartridges.
Totalpost's brand and reputation is expanding into other highly profitable business markets such as mailroom equipment, mailroom services, returned mail recycling, disaster planning and recovery for the mail recovery functionality for companies, and its Forensic and Security Division for representation of its line of forensic and security x-ray scanning equipment. Our purpose is to create added value through enhancements and other improvements. Everlert, Inc. is a Nevada corporation and its corporate operations are located in Monrovia, California.
You should not place undue reliance on forward-looking statements in this press release. This press release contains forward-looking statements that involve risks and uncertainties. Words such as "will,'' "anticipates,'' "believes,'' "plans,'' "goal,'' "expects,'' "future,'' "intends,'' and similar expressions are used to identify these forward-looking statements. Actual results could differ materially from those anticipated in these forward-looking statements for many reasons, including the risks we face as described in this press release.
CONTACT: Everlert, Inc. 825 South Primrose Avenue, Suite A Monrovia, California 91016 Tel: (626) 263-5940 Fax: (626) 739-5754 www.everlert.netSource:Everlert Inc.