Strategic Stocks To Watch CONVERTED ORGANICS INCORPORATED (OTCBB: COIN)
Up 15.79% on Tuesday
Converted Organics, Inc. focuses on the manufacture, sale, and distribution of natural soil amendment products combining nutritional and disease suppression characteristics. It uses organic food waste as raw material to manufacture soil amendment products. Converted Organics plans to sell and distribute these products in the agribusiness, turf management, and retail markets. The company was founded in 2003 and is headquartered in Boston, Massachusetts.
COIN News:
August 16 – Converted Organics (COIN) Announces 2011 Year-To-Date and Second Quarter Financial Results and Schedules Shareholder Conference Call
12-21-11 Strategic Stocks To Watch CONVERTED ORGANICS INCORPORATED (OTCBB: COIN)
Shareholder Conference Call to be held on Wednesday, August 17, 2011 at 10 AM ET
Converted Organics Inc. (OTCBB: COIN) announced that it had sales for the three months ended June 30, 2011 of $1,429,000 and income for the three months of $1,098,000 compared to sales of $1,245,000 and a loss of $3,325,000 for the same quarter last year. For the six months ended June 30, 2011 the Company reported sales of $2,169,000 and a loss of $649,000 compared to sales of $1,957,000 and a loss of $9,705,000 for the same period last year. Income generated in the quarter ended June 30, 2011 is attributable to gains on debt and equity transactions. Further detail is available in the Company’s Form 10-Q which was filed on August 15, 2011 and will be discussed during the Company’s shareholder conference call which is scheduled for Wednesday, August 17, 2011 at 10:00 AM EST.
“We are pleased with our results for 2011 overall which show increased sales and operating margins, and with our progress in developing our businesses. Profits in the second quarter were attributable to gains on debt and equity transactions related to share price fluctuations, however, we are confident that we are completing the restructuring process, which we began in 2010, and we are continuing to position the business to grow organically through acquisitions and other transactions,” said Edward Gildea, president of Converted Organics.
Converted Organics has scheduled a conference call on Wednesday, August 17, 2011 at 10:00 AM ET to update shareholders on recent business developments and discuss the Company’s results for the quarter ended June 30, 2011.
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