COMMODORE ENVIRONMENTAL SERVICES, INC. ANNOUNCES SECOND QUARTER RESULTS.NEW YORK--(BUSINESS WIRE)--Aug. 14, 1995--Commodore Environmental Services The various combinations of scientific, technical, and advisory activities (including modification processes, i.e., the influence of manmade and natural factors) required to acquire, produce, and supply information on the past, present, and future states of space, atmospheric, , Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :COES COES College of Engineering and Science COES Committee on Open Electronic Systems COES Clinical Operational Equipment Sets ) today announced results for the second quarter ended June 30, 1995. (See table below) The decrease in revenues for the three and six month periods were primarily the result of the extinguishment of a mortgage receivable during 1994 which resulted in a reduction of ongoing income. The net loss of ($1,797,000), or ($.03) per share for the six months ended June 30, 1995 was primarily attributable to additional research and development expenses for Commodore's patented and patent-pending technologies in each of the first two quarters. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Paul E. Hannesson, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Commodore, "The Company is in the process of developing important relationships in the refrigerant re·frig·er·ant adj. 1. Cooling or freezing; refrigerating. 2. Reducing fever. n. 1. A substance, such as air, ammonia, water, or carbon dioxide, used to provide cooling either as the working substance of management business. Through Commodore's direct mail and sales efforts, as well as our recently announced non-exclusive alliance with Refron, Inc., a major nationwide distributor of CFC CFC See: Controlled foreign corporation refrigerants Chemical refrigerants are assigned an R number(sometimes the label replaces it with the word Freon) which is determined systematically according to molecular structure. The following is a list of refrigerants with their R numbers, IUPAC chemical name, molecular formula, and CAS number. , we began receiving mixed CFC materials for both selective destruction and outright destruction during the quarter. We expect that revenues from these initial processing orders will be booked in the second half of the year." -0-
COMMODORE ENVIRONMENTAL SERVICES, INC.
Condensed Statement of Operations
(Unaudited)
For the Three Months For the Six Months
Ended June 30, Ended June 30,
1995 1994 1995 1994
Net Revenues $ 160,000 $ 238,000 $ 328,000 $ 483,000 Net (Loss) $(953,000) $(728,000) $(1,797,000) $(1,308,000) Net (Loss) Per Share $(.02) $(.01) $(.03) $(.02) Weighted Average Number of Shares Outstanding 56,260,000 55,290,000 56,160,000 55,235,000
Commodore Environmental Services, Inc. (OTC:COES), based in New
York City, and its Ohio-based research subsidiaries Commodore
Laboratories, Inc. (formerly A.L. Sandpiper Corporation) and CFC
Technologies, Inc., have been involved in environmental services and
waste management since 1986. Commodore utilizes patented and
patent-pending technologies for the destruction and selective
destruction of refrigerants and other ozone-depleting substances.
Commodore has also developed patent and patent-pending technologies
to destroy PCBs, chemical weapons, dioxins and pesticides, and for
the concentration of radioactive waste.
CONTACT: INVESTOR RELATIONS Investor relations The process by which the corporation communicates with its investors. COUNSEL: Commodore Environmental -or- The Equity Group Services, Inc. Terry Hosmer (212) 836-9610 Inc. Melissa C. Berkowitz Rovert Goldstein (212) 371-8660 (212) 308-5800 |
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