Broadleaf Capital Files Form 10-K Management's Focus on Plan.Business Editors SAN JACINTO San Jacinto, river, c.130 mi (210 km) long, rising in SE Texas as the West Fork and flowing S to Galveston Bay. Its chief tributary is Buffalo Bayou, and both the bayou and the lower river are used for the Houston ship channel. , Calif.--(BUSINESS WIRE)--May 7, 2002 Broadleaf broad·leaf adj. Broad-leaved. Adj. 1. broadleaf - having relatively broad rather than needlelike or scalelike leaves broad-leafed, broad-leaved Capital Partners, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :BDLF) (OTCBB:BDLFE) today announced the Company filed its Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. Annual Report for the 2001 fiscal year on Friday, May 3, 2002, with the SEC. This was consistent with a press release April 26, 2002, indicating the filing could be anticipated by such a date. It is expected the stock's trading symbol Trading symbol See: Ticker symbol will be restored to "BDLF" within the next 24 hours. It can be accessed on the Securities and Exchange Commission Web site or at www.freeedgar.com. Broadleaf Capital Partners' Interim President, Robert Braner, stated, "With the completion and filing of this 10-K Annual Report, we believe the Company has now created a more level playing field See net neutrality. . Having achieved the restructuring of the Company's share capital, and a new Board of Directors as a result of the overwhelming shareholder support at our recent Annual Meeting, we are aggressively moving forward with our Plan for Success. The implementation of our strategy to rebuild the company and restore shareholder value is well underway." Donald Johnson, Interim CFO See Chief Financial Officer. , stated, "For the fiscal year ended Dec. 31, 2001, the Company reported a net loss of $3,655,086 and revenues of $15,125, as compared to a net loss of $8,616,328 and revenues of $764,814 for the fiscal year ended Dec. 31, 2000." It is important to recognize the current 2001 filing reflects judgment payable liabilities outstanding as of fiscal year 2001 in the amount of $2,083,300, allowances taken for bad debt plus bad debt write-offs represent another $500,541. Adjustments for unrealized loss Unrealized Loss A loss that results from holding onto an asset rather than cashing it in and officially taking the loss. Notes: Let's say you own a stock that is down 50%, but you haven't sold it to realize the loss yet. This is said to be an unrealized loss. on investments were $394,289. These adjustments and write-offs on original liabilities, however, do not reflect any final settlements negotiated in good faith and currently underway which would reduce significantly these liabilities. It is management's expectation that these reductions and adjustments should be noted and more visible in the Company's upcoming and future SEC filings. The entire 2001 operating year has been dedicated to the final elements of debt and liability negotiation, and the clean up and restructuring of the Company. The re-alignment of all liabilities to something less than a 10-cent-on-the-dollar amount has been an important target in the turnaround of the Company's operations. Management believes it can now begin to focus on improving the Company's currency and execution of its plan. |
|
||||||||||||

Printer friendly
Cite/link
Email
Feedback
Reader Opinion