OCwave
14 years ago
RESULTS OF OPERATIONS
Six Months Ended June 30, 2010 Compared to Six Months Ended June 30, 2009
Revenue – For the six months ended June 30, 2010, the Company had revenue from The
Answer® of $328,089 compared to the $239,478 of revenue generated for the six months ended
June 30, 2009, an increase of $88,611 or 37%. The increase in revenue is a result of increased unit
sales. Unit sales for the first six months of 2010 were 758,524 compared to unit sales of 492,600
for the first six months of 2009.
Gross Profit – For the six months ended June 30, 2010, the Company had a gross profit
of $114,591 compared to a gross profit of $93,478 for the six months ended June 30, 2009, an
increase of $21,113 or 22.6%. The increase in gross profit is a result of increased revenue as a
result of increased unit sales.
Operating Expenses – For the six months ended June 30, 2010, the Company had total
operating expenses of $803,632 representing a decrease of $195,488 or 24.3%, compared to the six
months ended June 30, 2009. This decrease was driven mostly by reduced public relations
expenses.
Other Income/(Expense) – Total other income/(expense), which represents the sum of
interest income, interest expense and other income or expense, for the six months ended June 30,
2010 was ($33,250) compared to ($38,767) for the six months ended June 30, 2009. This decrease
is due to lower interest rates on the term loan.
Net Loss – For the six months ended June 30, 2010, the Company had a net loss of
$722,291 representing a decrease in net loss of $222,118 or 23.5% compared to the six months
ended June 30, 2009. The decrease in net loss was due to increased gross profit driven by increased
unit sales.
OCwave
14 years ago
In May, 2009, the Company received a small purchase order from the U.S. Army, which
has field-tested The Answer® for a hot-water application for combat troops. The purchase order
included tooling (paid for by the U.S. Army) for a clip-and-lanyard part to connect The Answer® to
a bag. The first field tests were completed in October, 2009. The Answer® proved successful in
retaining heat (the most important criterion). The Company has worked with the Army to make
some adjustments to the overall package that are expected to improve ease of use in the field, and in
July, 2010 it submitted what it expects are final samples for evaluation. While the Company cannot
make any guarantees, it believes the Army is keen on the project and that this represents an exciting
opportunity to generate significant sales of The Answer®, to serve our troops, and eventually open
up additional applications within the military.
At National Restaurant Association Show held in Chicago, The Answer®
was on display at the booth of Diversified Foods, Inc., sole licensee for Hershey’s aseptic milk.
Bag-in-box packages containing Hershey’s aseptic chocolate and white milk were housed in
maintenance-free dispensing units designed specifically around The Answer®. The dispensers,
emblazoned with the Hershey’s logo, have been used at Hershey’s Chocolate World attraction in
Hershey, PA, changing the way Hershey’s Chocolate World delivers its milk. The Company has
received ten purchase orders from Diversified Foods and expects that the Hershey’s aseptic
chocolate and white milk system will be marketed widely to convenience stores, quick-serve
restaurants, and other foodservices outlets beginning in Q1 2011, though no guarantees can be made
at this time.
OCwave
14 years ago
The Board has named IDC founder, fundraiser and Chairman, Greg Abbott, to serve as
CEO. As the Company’s largest shareholder, Mr. Abbott has agreed to work without salary, at least
until the Company becomes cash flow positive. Due to the large number of projects on the
Company’s plate and their technical complexity, on April 1, 2010 the Company hired Greg Wuttke,
previously a part-time consultant for IDC. Prior to joining IDC full-time, Mr. Wuttke served for six
years as director of sales and marketing for the Morningstar Tomato Company, the world’s largest
and arguably most innovative tomato processor. Regarded as one of the foremost technical experts
in the aseptic bag-in-box industry, and passionate about IDC, Mr. Wuttke has also worked thirteen
years for the Scholle Corporation (the world’s largest bag-in-box company) and TetraPak (the
world’s largest packaging company). In addition to hiring Mr. Wuttke, the Company continues to
utilize strategic consultants to assist in marketing, engineering, and industry relations.
OCwave
14 years ago
Power Packaging and International Dispensing Corporation (IDC) Form Strategic Sales Alliance
INTL DISPENSING CORP (OTC) (USOTC:IDND)
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2 Months : August 2010 to October 2010
International Dispensing Corporation (IDC) (IDND.PK) today announced the signing of a global strategic sales alliance with Power Packaging, an Exel Company and the premier provider of manufacturing and packaging services to the world's largest consumer packaged goods companies (CPG). The partnership will combine IDC’s advanced dispensing technology and technical expertise with Power Packaging’s 40-year track record as an industry leader in contract manufacturing and packaging solutions.
“IDC is at the forefront of innovation for the food and beverage flexible packaging industry and we are excited about the opportunities our shared commitment represents,” says Geoff Campbell, President of Power Packaging. “We believe in IDC’s patented dispensing technology, The Answer™, which allows the customer’s product to maintain an aseptic state even after the commencement of dispensing, from first drop to last. It is a game-changing innovation that will benefit CPG companies around the world.”
“Our alliance with Power Packaging will open many doors for IDC. It enables IDC to offer a total composite solution for high-acid products and to have complete supply chain support for The Answer tap,” says Greg Abbott, founder and chairman of IDC. “We are thrilled to be teaming up with Power Packaging and its sterling record of achievement.”
Power Packaging is the largest food and beverage contract manufacturer in North America, with five advanced manufacturing and production facilities across the country. The partnership with IDC will focus on high-acid (juice, sports drinks, teas, etc.) aseptic opportunities for large-format flexible packaging, and will target leading branded CPG companies.
For more information, please visit www.idcdispensing.com.
About Exel
Exel is the North American leader in contract logistics, providing customer-focused solutions to a wide range of industries including aerospace, automotive, chemical, consumer, energy, industrial, life sciences, retail and technology. Exel’s innovative supply chain solutions, skilled people and regional coverage, bring together all aspects of contract logistics in addition to a wider range of integrated, value added and specialist services. Exel is a wholly owned entity of Deutsche Post DHL, the world’s leading logistics group. For more information, visit www.exel.com.
About International Dispensing Corporation (IDC)
Founded in 1995, IDC is a research and development company that develops, manufactures, and licenses cutting-edge dispensing solutions for the packaging and foodservice industries. For more information about IDC and its products, visit www.idcdispensing.com
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OCwave
14 years ago
Healthy Sunkist Protein Shots Now Available in One Gallon Stand-up Pouches with The Answer
INTL DISPENSING CORP (OTC) (USOTC:IDND)
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Today : Monday 4 October 2010
International Dispensing Corporation (IDC) (IDND.PK) announced today the worldwide debut of its newest package: A one-gallon stand-up pouch featuring The Answer®, IDC’s patented, proprietary dispensing technology. This novel Multiserve SafePak™ will contain 48 liquid servings of nutritional protein shots from Sunkist.
Sunkist stand-up pouch (Photo: Protica)
Because the pouch is flexible, and because The Answer® tap maintains the freshness of the protein shots without need for refrigeration, the new package brings unprecedented versatility and benefits. The innovative large-format pouches, produced by Fres-Co, are easy to carry, collapse with use, and can be stored anywhere even after dispensing has commenced, giving them the mobility and convenience of single-serve packages. Moreover, they bring all the advantages of bulk packages, costing the consumer significantly less per serving and having a vastly reduced environmental footprint compared to single-serve packages.
The Sunkist® protein shots are produced under a license with BioBev LLC and manufactured by Protica® Inc., makers of the first protein shot, Profect® and dozens of the world’s smallest protein and energy drinks. The shots will initially be available in fruit punch, but will be followed up by a variety of flavors. Protica’s privately labeled and house brands have a wide distribution through tens of thousands of retail locations throughout the healthcare, sports nutrition, and mass retail channels.
The new Sunkist product and package will be sold beginning October 2010 through the SkyMall Catalog, which is exposed to over 640 million domestic airline travelers annually. Large retail outlets are being targeted for early 2011.
“Through our partnership with Sunkist, BioBev, IDC, and Fres-co, we are now able to make protein supplements available in bulk,” says Jim Duffy, founder and president of Protica. “Bulk packaging offers consumers a new level of flexibility in their buying decision. The unique one-gallon pouch saves consumers approximately 30% per serving, while in-depth life-cycle analyses indicate that large-format packaging with The Answer® dramatically reduces the amount of energy, greenhouse gas emissions, and landfill waste compared to single-serve packaging. It is an economical and environmentally responsible option for consumers to get the protein supplements they need for their active lifestyles.”
“The Answer® makes this package possible by keeping the contents safe with or without refrigeration,” says Greg Abbott, founder and chairman of IDC. “The Sunkist® pouch is a really ‘cool’, interactive package that consumers should enjoy. It is a bulk package, but it is also mobile. Each time you consume the product, you can roll up the pouch a bit more so that it becomes smaller with use. You can safely store it anywhere – in your car, office, backpack, fridge – without concern. At the end, you can squeeze out every last drop, eliminating waste, and when you finally dispose of the pouch you know you are burdening the environment with considerably less packaging material for the same amount of liquid.”
Abbott continues: “It is a product and package for the 21st Century - great for the body, the pocketbook, and the conscience - from Sunkist, one of the greatest and most trusted brands in America. We are delighted to be involved with Sunkist, BioBev, Protica, and Fres-co in this exciting new product launch.”
The Answer® has been scientifically validated by three FDA processing authorities and was written up in the peer-reviewed Journal of Food Protection (March, 2008).
An independent life-cycle analysis conducted by Allied Development, encompassing all areas of the supply chain, from resins to filling to shipping, documents that the MultiServe SafePak™ with The Answer® utilizes significantly less energy and greenhouse gases, and consumes far less landfill, than aseptic cartons, plastic bottles, and milk jugs.
For more information, please visit www.idcdispensing.com.
About Sunkist
Founded in 1893, Sunkist is America’s oldest and largest citrus marketing cooperative, owned by thousands of citrus growers in California and Arizona. Over the years, Sunkist has built an international citrus marketing organization and a brand that is one of the best known and most respected in the world. Today Sunkist is a leading licensor with hundreds of products around the globe bearing the famous Sunkist trademark.
About Protica
Founded in 2001, Protica, Inc. is a research-based nutraceutical firm headquartered in Whitehall, Pennsylvania. In its privately owned 250,000 square foot facility, Protica manufactures capsulized foods, such as Profect®, IsoMetric®, Fruitasia®, and Proasis®, in ready-to-drink form. To learn more about Protica please visit http://www.protica.com.
About International Dispensing Corporation
Founded in 1995, International Dispensing Corporation (IDC) is a research and development company that develops, manufactures, and licenses cutting-edge dispensing solutions for the packaging and foodservice industries. For more information about IDC and its products, please visit www.idcdispensing.com.
About BioBev
Founded by a team of highly experienced food and beverage marketing experts, BioBev, LLC is a company dedicated to creating new product concepts that deliver unique consumer benefits and experiences. BioBev is the creator and exclusive distributor for Sunkist Energy and Sunkist Protein, under a trademark license agreement from Sunkist Growers, Inc. To learn more about BioBev, please visit www.BioBev.com.
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6453591&lang=en
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