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There has been some volume lately so news maybe soon ,we will see

G711

Latesrt News on CDOC


Updated:2006-05-31 10:19:15

High Growth Potential Saturday, June 3rd at the SCIA - Southern California Investment Association's National Investment Conference in Irvine, CA
Market Wire
 


MONARCH BEACH, CA -- (MARKET WIRE) -- 05/31/06 -- Attend this Saturday's conference for diverse investment opportunities, June 3rd from 7:15 a.m. to 1 p.m. at the Atrium Hotel at the Orange County Airport, 18700 MacArthur Boulevard, Irvine, CA 92612, located across from the John Wayne Airport, (SNA). Seating is limited to the buy/sell side and accredited investors. For discount, register in advance at: www.sciaonline.org.


A portion of the companies presenting every 15 minutes early Saturday Morning after the breakfast reception are: Coda Octopus Group, Inc., (PINKSHEETS: CDOC) Underwater Technologies: Imaging, Mapping & Defense; Loans4Less.com, Inc., IPO, (www.loans4less.com) Branded Mortgage Brokerage, JV's & Acquisitions; NextPhase Wireless, Inc., (OTCBB: NXPW) Customized Turnkey Wireless Networking Solutions; Premium Finance Fund, LP, from San Marcus with Life Insurance Funding; Provectus Pharmaceuticals, Inc. (OTCBB: PVCT) Core Technologies, Properties & Clinical Therapeutics; Rapid Link, Inc. (OTCBB: RPID) Cost Effective Calling Solutions; SuperVision Entertainment (PINKSHEETS: SVET) Entertainment, Hi-Tech & Resource Conglomerate; T-Lite Corporation (www.t-lite.net) Weight Loss Natural Products and more companies to be released.


About Southern California Investment Association:


SCIA National Small Cap Syndicate is a comprehensive national organization developed to facilitate stock support and capital formation for small and emerging-growth companies. The alliance consists of almost 200 influential member firms plus associates including NASD broker/dealers, bankers, investment advisors, analysts, market makers, venture capitalists, fund managers, media and accredited investors.


This team provides a wide range of services including, but not limited to equity and debt financing, institutional and retail stock support, market making, and mergers and acquisitions. The association provides current information on market climate, SEC regulation and is a valuable forum for investment opportunities. Companies desiring support or funding are encouraged to apply one month in advance.


Conference Schedule: Saturdays, August 5, October 7 and December 2 at the Orange County Hilton, Irvine.


SCIA Gold Conference Sponsors: Paulson Investment Company, Inc., The Largest Independent Brokerage Firm in the Pacific N.W., www.paulsoninvestment.com; Mark Stewart Securities, Inc., Market-Making, www.stewartsecurities.com; Continental Stock Transfer & Trust Co., Great Value with Flawless Executions, www.continentalstock.com; J. M. Dutton & Associates, LLC, One of The U.S.' Largest Issuers-Paid Equity Research Firm, www.jmdutton.com; Trilogy Capital Partners, Inc., Effective Financial & Communications Partner with Companies to Reach Full Market Value, www.trilogy-capital.com; Weinberg & Company, P.A., CPA Firm Servicing Small-Middle Market Public Companies, www.cpaweinberg.com; Securities Compliance Control, LLC, Corporate SEC Compliance Consultants; and Associate Sponsor: Corporate PR & Media Value Leader, Market Wire, www.marketwire.com.


Expect the Best





Cherry Lassen Kau
President
949-922-3003
Email Contact




20060531

Form 10-Q for FORCE PROTECTION INC


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15-May-2006

Quarterly Report



ITEM 2 - MANAGEMENT'S DISCUSSION AND ANALYSIS
CAUTIONARY STATEMENT CONCERNING FORWARD-LOOKING STATEMENTS

This Report contains forward-looking statements, including, without limitation, statements concerning possible or assumed future results of operations and those preceded by, followed by or that include the words "believes," "could," "expects," "intends," "anticipates," or similar expressions. Our actual results could differ materially from these anticipated in the forward-looking statements for many reasons including our ability to raise capital when necessary; availability of parts and raw materials for our products; continued customer acceptance of our products; on-going success of our research and development efforts and other risks described elsewhere in this report. Although we believe the expectations reflected in the forward-looking statements are reasonable, they relate only to events as of the date on which the statements are made, and our future results, levels of activity, performance or achievements may not meet these expectations. We do not intend to update any of the forward-looking statements after the date of this document to conform these statements to actual results or to changes in our expectations, except as required by law.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The Securities and Exchange Commission, or SEC, issued Financial Reporting release No. 60, "Cautionary Advice Regarding Disclosure About Critical Accounting Policies," or FRR 60, suggesting companies provide additional disclosure and commentary on their most critical accounting policies. In FRR 60, the SEC defined the most critical accounting policies as the ones that are most important to the portrayal of a company's financial condition and operating results, and require management to make its most difficult and subjective judgments, often as a result of the need to make estimates of matters that are inherently uncertain. The methods, estimates and judgments we use in applying these most critical accounting policies have a significant impact on the results we report in our financial statements.



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The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

As a general rule, financial information is accounted for and based on cost, not current market value. Revenues and gains should be matched using the accrual method with the expenses giving rise to the revenues and gains to determine earnings for the period. Expenses are necessarily incurred to produce revenue. Expenses are then "matched" in the same accounting period against the revenue generated. Revenues are recognized when they are earned and expenses are recognized in the same period as the related revenue (matching or using a systematic and rational allocation or expensing in the period in which they expire), not necessarily in the period in which we receive or expend cash.

We believe the following critical accounting policies and procedures, among others, affect our more significant judgments and estimates used in the preparation of our consolidated financial statements:


†          Revenue recognition;

†          Inventory cost and Associated Reserves; and

†          Allocation of direct and indirect cost of sales.




We recognize revenue upon formal acceptance of vehicles by customers. We receive performance based payments from the U.S. Army and U.S. Marines and record such payments as deferred revenue, carrying them on our balance sheet as such until acceptance by the customer.

In December 2004, FASB issued Statement No. 123(R), Share-Based Payment, which establishes accounting standards for transactions in which an entity receives employee services in exchange for (a) equity instruments of the entity or
(b) liabilities that are based on the fair value of the entity's equity instruments or that may be settled by the issuance of equity instruments. Effective in the third quarter of 2005, SFAS 123(R) will require us to recognize the grant-date fair value of stock options and equity based compensation issued to employees in the statement of operations. The statement also requires that such transactions be accounted for using the fair-value-based method, thereby eliminating use of the intrinsic method of accounting in APB No. 25, Accounting for Stock Issued to Employees, which was permitted under Statement 123, as originally issued. To date, we have expensed stock based compensation on the intrinsic method. We are currently evaluating the impact of Statement No. 123 (R) on our financial condition and results of operations.

In November 2004, the FASB issued Statement No. 151, Inventory Costs, to amend the guidance in Chapter 4, Inventory Pricing, of the FASB Accounting Research Bulletin No. 43, Restatement and Revision of Accounting Research Bulletins, which will become effective for us in fiscal year 2006. Statement No. 151 clarifies the accounting for abnormal amounts of idle facility expense, freight, handling costs, and wasted materials. The Statement requires that those items be recognized as current-period charges. Additionally, Statement No. 151 requires that allocation of fixed production overhead to the costs of conversion be based on normal capacity of the production facility. We are currently following Statement No. 151 and do not believe that Statement No. 151 will have a significant impact on our financial condition and results of operations.

Principles of Consolidation: The consolidated financial statements include the accounts of Force Protection, Inc., and our two wholly owned subsidiaries, Force Protection Industries, Inc. (formerly Technical Solutions Group, Inc.) and TSG International, Inc. for the three month period ended March 31, 2006. All inter-company balances and transactions are eliminated in consolidation.

Cash Equivalents: For purposes of reporting cash flows, we consider all highly liquid debt instruments purchased with maturity of three months or less to be cash equivalents. Cash equivalents consist primarily of United States government securities.



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Inventories: Inventories are stated at the lower of cost or market. The cost is determined under the first-in, first-out, or FIFO, base valuation method.

Property, Plant and Equipment: Property and equipment are stated at cost or at the value of the operating agreement. We capitalize additions and improvements which include all material, labor and engineering cost to design, install or improve the asset. Routine repairs and maintenance are expensed as incurred. The capitalization threshold is $2,000 and a useful life greater than one year. Depreciation and amortization are computed using the straight-line method over the following estimated useful lives:


                        Leasehold improvements    20 years
                        Furniture and fixtures    3 years
                        Machinery and equipment   7 years
                        Tooling and molds         7 years
                        Vehicles                  5 years




Goodwill: Under SFAS No. 142. Goodwill and other Intangible Assets, all goodwill amortization ceased effective January 1, 2002. Rather, goodwill is now subject to only impairment reviews. A fair-value based test is applied at the reporting level. This test requires various judgments and estimates. A goodwill impairment loss will be recorded for any goodwill that is determined to be impaired. We follow SFAS 142, Goodwill and Intangible Assets, which requires us to test goodwill for potential impairment annually. When the carrying value exceeds fair value, the impairment is the difference between the carrying value of goodwill and the implied value. The implied value of goodwill is the difference between the fair value for the unit as a whole and the value of individual assets and liabilities using an "as-if" purchase price.

Estimates: The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Revenue Recognition: Our revenue is derived principally from the sale of our vehicles and associated spare parts and training services. Revenue from products and services is recognized at the time goods are shipped or services are provided to the customer, with an appropriate provision for returns and allowances. We receive performance based payments based on completion of specific milestones. These payments are recorded as Deferred Revenue and recognized on the profit and loss statement upon customer acceptance of the completed vehicle. It is our policy to not recognize revenue until customer acceptance. All advance payments are treated as "deferred revenue".

Dividend Policy: We have never declared or paid a cash dividend on our common stock, and we do not anticipate paying any cash dividends on our common stock in the foreseeable future. Any future determination to pay cash dividends on our common stock will be at the discretion of our board of directors and will depend upon our financial condition, operating results, capital requirements, restrictions contained in our agreements and other factors which our board of directors deems relevant. Under the terms of the Certificate of Designation for our Series D Convertible Preferred stock, we are obligated to pay a 6% dividend in cash or shares of common stock on the outstanding shares of Series D stock.

FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Overview: The Company returned to operating profitability for the three month period ended March 31, 2006, due to the increased production of our vehicles and the increased efficiency of our operations. Sales for this period from all sources generated gross revenue of $34,802,585 against which we incurred total cost of goods of $28,164,816 generating a gross profit of $6,637,769. We incurred G&A expenses of $5,859,538 plus R&D expenses in the amount of $663,590 resulting in an operating profit of $114,641. During this three month period, we delivered a total of 44 vehicles (1 Buffalo and 43 Cougar JERRV), and on February 3, 2006 we announced the award of a Letter Contract from the U.S. Army for the delivery of 19 Buffalo Vehicles with an option for an additional 22 vehicles,



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having a total estimated value of $35,000,000. In addition to operating profitability, we experienced positive cash flows from operations of $7,118,898 during the three month period ended March 31, 2006.

The following table sets forth our consolidated statements of operations for the three month period ended March 31 for the years 2005 and 2006. The discussion and analysis that follows should be read in conjunction with our consolidated financial statements and related notes included elsewhere in this report.


                      Consolidated Statement of Operations



                                Three Month Period Ended
                             March 31, 2006    March 31, 2005    Difference   % Change
  Revenues                  $     34,802,585        5,853,423    28,949,162        495 %
  Cost of Sales                   28,164,816        6,395,319    21,769,497        340 %

             Gross Profit          6,637,769         (541,896 )   7,179,665       1325 %
                   G.P. %                 19 %            (10 )%

  G&A Expense               $      5,859,538        2,991,444     2,868,094         96 %
  R&D Expense                        663,590          210,855       452,735        215 %
                Total G&A          6,523,128        3,202,299     3,320,829

  Operating Profit (Loss)   $        114,641       (3,744,195 )   3,858,836

  Interest Expense          $       (807,324 )       (277,256 )    (530,068 )
  Other Income/(Expense)              27,049           38,541       (11,492 )

        Net Income (Loss)   $       (665,634 )     (3,982,910 )   3,317,276




Revenue: Revenue for the three month period ended March 31, 2006 was $34,802,585 representing an increase of 495% compared to the same period in 2005. The increase during this period was due to the increased level of vehicle production we have achieved compared with last year, which is primarily the result of the JERRV contract, awarded in May 2005. Our revenue is derived from the sale of our Buffalo and Cougar vehicles and the sale of spare parts and other support services, however we do not record any income until our products are formally accepted by our customers The revenue reported during this three month period thus includes amounts we carried on our balance sheet during prior reporting periods as deferred revenue pending acceptance of the final products by the U.S. Army and the U.S. Marines. During the three month period ended March 31, 2006, we received approximately $33,000,000 from vehicle sales and $1,800,000 from the sale of spare parts and other support services. The revenue from the sale of spare parts has continuedd to increase over past quarters, driven by the increasing number of our vehicles delivered and deployed to areas of operations. We intend to continue to develop this spare parts business as an increasingly important part of our revenue base.

Cost of Sales: Cost of sales for the three month period ended March 31, 2006 was $28,164,816 representing an increase of $21,769,497 compared to the same period in 2005. The increase during this period was due to the increased level of vehicle production, and the corresponding increased cost of direct and indirect labor and material associated with our manufacturing activities. The cost of sales for the three month period ended March 31, 2006 was 81% of gross revenues for such three month period representing a 19% gross profit for this period, compared with cost of sales of 110% of gross revenues for the same period in 2005. This improvement in our gross profit is the result in part of increasing efficiency of our manufacturing operations. As we continue to expand our production capacity, we expect to achieve increased cost efficiency from volume purchasing, improvements in our



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manufacturing processes and the allocation of indirect costs across a broader production base, resulting in a projected decrease in the cost of sales as a percentage of gross revenue.

General and Administrative Expenses: General and Administrative expenses for the three month period ended March 31, 2006 were $6,523,128 representing an increase of $3,320,829 compared to the same period in 2005. The G&A expenses for the period ended March 31, 2006 included $663,590 in research and development expense. We expect our General and Administrative expenses to increase over time as we continue to expand our production capacity to meet increasing sales demand, however we expect the percentage of our G&A expenses in relation to gross revenues to decrease as we achieve greater efficiencies in our operations. Thus, for example, during the three month period ended March 31, 2006, our General and Administrative expense was 19% of our gross revenue as compared with 54% for the same period in 2005.

Net Gain/(Loss): Net Loss for the three month period ended March 31, 2006 was $665,633 representing an improvement over the net loss of $3,982,910 incurred during the same period in 2005. The improved performance is due primarily to higher production volumes and improved operating cost efficiencies.

Backlog: On April 23, 2004 we announced a contract award to deliver Cougar Hardened Engineer Vehicles, or HEV, to the U. S. Marine Corps, of which fourteen were initially funded under the contract. On March 8, 2005 the U.S. Marine Corps exercised its option to increase the number of HEV vehicles by fourteen, for a total of twenty-eight vehicles. As of March 31, 2006 we delivered a total of twenty-seven HEV vehicles, and have a remaining backlog of one Cougar HEV vehicle to be delivered under this contract, with a value of approximately $400,000. On May 17, 2004 we announced the award of a contract to deliver twenty-one Buffalo vehicles to the U.S. Army and in October 2004 we were awarded a separate contract by the U.S. Army for an additional fifteen Buffalo vehicles. Initial deliveries under these two Buffalo contracts began during 2004 and 2005, and as of March 31, 2006 we have delivered all thirty-six Buffalo vehicles, leaving no backlog under these two contracts with the U.S. Army. During the second quarter of 2005 we announced the award of a new contract by the U.S. Marine Corps for delivery of one hundred twenty-two Cougar Joint EOD Rapid Response Vehicles ("JERRV") to be delivered during 2005 and 2006, with a total value (with associated spares parts and training) of $90,000,000. As of March 31, 2006, we have delivered 61 JERRV vehicles and have a remaining backlog of 61 vehicles under the JERRV contract with an approximate value of $45,000,000, including associated spares and support. During the three month period ended December 31, 2005, we also announced a new order from the U.S. Marine Corps. for the purchase of four Buffalo vehicles (with associated spares, service and training) for a total contract price of $3,852,026.00. We delivered all four of these Buffalo vehicles under such contract during 2005.

On February 3, 2006 we announced the award of a Letter Contract from the U.S. Army for the delivery of 19 Buffalo Vehicles with an option for an additional 27 vehicles. The Army subsequently reduced the number of the additional vehicles from 27 to 22, for a total of 41. The Letter Contract is subject to definitization of terms. Additionally, on March 2, 2006 we announced the award of a contract with the U. S. Army, whereby we agree to provide the Army with authorized stock list supplies to service its Buffalo route clearance vehicle for the sum of up to $5 million.

Future Results: During the remainder of calendar year 2006 we expect to have incurred the majority of our presently anticipated infra-structure expansion costs and to achieve a substantially increased level of vehicle production capacity, resulting in increased revenues and profitability for such upcoming period. Set out below is a table showing actual and projected deliveries of our vehicles during 2004, 2005 and 2006 based on our internal estimates although our actual results may vary depending upon parts and material availability, actual production schedules, production efficiencies and other contingencies discussed in this report.


                      Vehicle Deliveries 2004, 2005 & 2006



                                              Actual                                    Projected
                      2004   Q1-2005   Q2-2005   Q3-2005   Q4-2005   Q1-2006   Q2-2006   Q3-2006   Q4-2006
Buffalo                  9         2        22         3         4         1        12        12        12
Cougar HEV               5         8         2         8         4         0         0         0         0
Cougar JERRV             0         0         0         2        16        43        62        60        60
Total                   14        10        24        13        24        44        74        72        72






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TRENDS, RISKS AND UNCERTAINTIES

The results of our operations for the period ended March 31, 2006 reflect the continued transition from net losses associated with our start up period to profitability as we evolve to become a manufacturing facility with stable production capability. During 2004 we were awarded contracts by the U.S. Army for a total of thirty six Buffalos and by the U.S. Marines for twenty eight Cougars, and were able to build 14 vehicles during that year. In 2005 we produced a total of total of 71 vehicles, representing an increase of 407%. During the three month period ended March 31, 2006, we produced a total of 44 vehicles, representing an annualized increase of 248%, and we are on track to achieve a minimum production capacity of 24 vehicles per month. During 2005, as we were working to complete our 2004 backlog, we also undertook the work necessary to increase our production capacity to meet the demand for our vehicles under the JERRV contract for one hundred twenty-two Cougars awarded in May 2005. This included substantial vehicle and automotive engineering work, manufacturing engineering development, hiring and training workers and the expansion of our manufacturing and administrative facilities. While the JERRV contract reflects a broader, growing demand for our vehicles, we continued to face the challenge of expanding our manufacturing capacity to fully exploit this opportunity. During 2005 we moved aggressively to meet this challenge by expanding our facilities, improving our operating systems and refining our manufacturing processes. These activities required a significant commitment of short term resources, but have positioned us to reap a long-term benefit. The results for the first quarter of 2006 demonstrate that we are beginning to be in a position to reap such benefits, in the form of increased liquidity and operating profitability.

We recognize there are risks associated with our on-going expansion activities. We continue to rely upon the U.S. Army and the U.S. Marine Corps for 100% of our sales, and if either customer elected not to issue further orders to us it would have a dramatic negative impact upon our financial performance. In addition, if we are delayed in meeting the delivery schedule under the JERRV contract, we may be obligated to pay liquidated damages for any delayed vehicle, and in the event of any substantial failure to perform, the customer could cancel the contract and/or claim additional damages. Payment of liquidated damages could negatively impact our future liquidity, and since we are incurring significant costs associated with our expansion program based on the expectation of future contract revenues, loss of the JERRV contract would have a dramatic impact on both our liquidity and our financial performance. We currently do not have any reason to expect that our customers will choose to stop buying our vehicles or that the JERRV contract would be cancelled.

In the past, we have encountered some difficulties in securing the necessary components for our vehicles, for example armor steel, truck chassis, axle sets and ballistic glass. To mitigate this risk, we have identified multiple vendors for certain components to ensure we have alternate sources of supply if necessary. Additionally, we have implemented a program of advance purchasing and stockpiling critical materials. For example, we currently have pre-purchased steel and truck parts to ensure availability of material needed for current and potential future orders. While we do not currently expect the potential non-availability of parts or raw materials to materially affect our operations, there is a possibility that delays or increased costs could negatively impact our financial performance if circumstances change. Apart from the foregoing, the main uncertainty about our future operations is whether we will continue to receive additional orders for our vehicles. It is impossible to predict with certainty whether such future orders will be placed by existing or new customers. If we do not receive future orders, it is unlikely that our business will continue. However, we believe our vehicles provide proven blast and ballistic protection, and that for so long as there is a risk of bodily harm to service personnel from explosive blasts, there will be a market for our products.

LIQUIDITY AND CAPITAL RESOURCES

Current Liquidity:For the three month period ended March 31, 2006, we had a starting cash balance of $1,217,509 and an ending cash balance of $6,146,738 representing a net increase in our cash position for such period of $4,929,229. During this period we incurred positive cash flows from operations of $7,198,742 and used $1,627,553



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in connection with our financing activities, including paying $1,250,000 of the principal amount due under our short term debt.

Future Liquidity:During the three month period ended March 31, 2006 we experienced positive cash flows from operations of $7,118,898 and were able to retire a portion of our short term debt. During this period, we continued to manage our accounts payable, and continued to factor our U.S. Government receivables under the Purchase and Sale Agreement with GC Financial Services, Inc. which allows us to receive payment within 24-48 hours of vehicle deliveries and reduces the impact of the government contract payment cycle on our short term liquidity. During the remainder of 2006 we expect the infra-structure expenses we have incurred in connection with our production ramp-up will begin to level off or decline and that we will continue to experience increased levels of positive cash flows from operations as we increase the volume of vehicle production. Such positive cash flows will allow us to pay down all or a portion of our short term debt and reduce the level of our accounts payable. In addition, we are also undertaking to secure long-term, asset-based debt financing to provide liquidity to support our continued development and growth.

Uncertainties:The amount of working capital that we will require depends on several factors, including without limitation, the extent and timing of sales of our products, future inventory costs, the timing and costs associated with the expansion of our manufacturing, development, engineering and customer support capabilities, the timing and cost of our product development and enhancement activities and our operating results. The realization of a major portion of the assets shown on our balance sheet is dependent upon the success of such future operations. During 2006 we expect to be able to generate cash flows from operations sufficient to satisfy our cash requirements, but if we are unable to do so, we may need to seek alternative sources of cash. Potential sources of such cash could include senior debt facilities, new lines of credit, or additional sales of our securities. If we raise funds through the sale of securities, the common stock currently outstanding could be diluted. There is a risk that such additional financing may not be available, or may not be available on acceptable terms, and the inability to obtain additional financing or generate sufficient cash from operations could require us to reduce or eliminate expenditures for capital equipment, research and development, production, or marketing of our products, or otherwise curtail or discontinue our operations, which could have a material adverse effect on our business, financial condition and results of operations.

Inflation & Material Cost

We do not believe that inflation has had or is likely to have any significant impact on our revenues, and we currently are not facing any material shortages of material or parts. We currently have enough steel on hand or on order to manufacture our existing contracts, and we continue to purchase steel anticipating future requirements. If the price of steel increases significantly, the cost of our products could increase, and we may not be able to pass on this . . .

LOOKING BACK at this PR,things seem to be going as planed


Press Release Source: Coda Octopus Group, Inc


Coda Octopus Announces Record Annual Revenue; Company Is Poised for Continuing Strong Growth in the Year Ahead
Thursday November 10, 2:14 pm ET


NEW YORK, NY--(MARKET WIRE)--Nov 10, 2005 -- Coda Octopus Group, Inc (Other OTC:CDOC.PK - News) a world leader in underwater technology solutions, announced today that for its fiscal year ended October 31st, 2005 the Company achieved record annual revenue.
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Revenue Doubled During the Year to $4.5 million

The Company's sales for the year ended October 31st, 2005 (unaudited) reached $4.5 million, more than doubling those achieved in the previous year, and the highest in the Company's history.

Additionally, each of the months of August, September, and October surpassed the previous best monthly revenues achieved by the Company, resulting in fourth quarter revenue in excess of $1.8 million -- more than double the Company's previous best quarterly result.

Company Confident of Continuing Strong Growth

Jason Reid, President and CEO, commented, "These outstanding figures are the product of a lot of effort and commitment from our skilled workforce. Given the huge interest shown in our revolutionary 3D real time underwater imaging technology, the Echoscope, and the consistently strong sales across the rest of our product range, I am confident that we will continue to see strong growth in the year ahead."

Publication of Information and Disclosure Statement

The Company also announced that it has published an Information and Disclosure Statement, which will appear shortly on its website (www.codaoctopus.com) as well as on the official Pink Sheets site (www.pinksheets.com). This document includes background information on the Company and its management team, a description of its products and operations, as well as management's consolidated financial statements for Coda Octopus Group, Inc. for the periods ended October 31st, 2003 and 2004, and for the six months ended April 30th, 2005.

The Company is in the final stages of completing its first audit as a U.S. company subject for the first time to GAAP accounting, and expects to release the results for the year ended October 31st, 2005 soon.

About Coda Octopus

Founded in 1994 as Coda Technologies, recently public Coda Octopus is recognized internationally as a leading developer of underwater technologies for imaging, mapping, defense and survey applications. Based in New York, with R&D and manufacturing facilities in the UK and Norway, its key products include Octopus precision motion sensors, Coda and Octopus marine software and systems, Octopus thermal printers and the unique Coda Echoscope -- the first real-time 3D subsea sonar -- with particular applications in the homeland security and construction markets. With this patented new product, which revolutionizes subsea visualization, Coda Octopus believes it is well on its way to becoming the world's leading sonar technology company, with the further goal of becoming the top company in the broader $500 million international marine products market.

Additional information about Coda Octopus and its products is available on its website at http://www.codaoctopus.com

I hope we get a follow up on the News of the new sales office in FLA.

further DD @

http://www.investorshub.com/boards/board.asp?board_id=5306

Breakout chart,real nice with the volume


http://stockcharts.com/h-sc/ui?s=cdoc&p=D&yr=0&mn=3&dy=0&id=p38014569686

Will somebody at least reply I`ve been talking to myself for  about 3 months

Well we are up over 30% today and the volume is amazing.check out the board  at IHUB for DD

http://www.investorshub.com/boards/board.asp?board_id=5306

Something must be brewing after the new sales office opened last week check out IHUB for full DD

News out 5-5-06

Coda Octopus Opens New Office in Florida to Accommodate Planned US Sales Team Expansion
Friday May 5, 10:40 am ET


NEW YORK, NY--(MARKET WIRE)--May 5, 2006 -- Coda Octopus Group, Inc. (Other OTC:CDOC.PK - News), a world leader in 3D subsea technology with key applications in port security and defense, today announced that it has opened a new sales and marketing office in St. Petersburg, Florida, which became operational on May 1st 2006.
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Jason Reid, CEO, commented, "The new space is an addition to the Company's nearby existing office and will enable us to expand our US sales operations, which are already run out of Florida. Within a short period of time, we expect to have up to six staff working from this facility. The opening of this office reflects the Company's commitment to the region which is becoming an increasingly important one in the marine industry; it will also help us to build on our already close association with the University of South Florida, which is a key player in the industry."

About Coda Octopus

Founded in 1994 as Coda Technologies, Coda Octopus is recognized internationally as a leading developer of underwater technologies for imaging, mapping, defense and survey applications. Based in New York, with R&D, manufacturing, and sales facilities in the UK, Norway, and Florida its key products include Octopus precision motion sensors, Coda and Octopus marine software and systems, Octopus thermal printers and the unique Coda Echoscope -- the first real-time 3D subsea sonar -- with particular applications in the homeland security and construction markets. With this patented new product, which revolutionizes subsea visualization, Coda Octopus believes it is well on its way to becoming the world's leading sonar technology company.

For further information, please visit http://www.codaoctopus.com or contact Coda Octopus at [email protected]

Safe Harbor Statement: Except for historical information, the matters set forth herein, which are forward-looking statements, involve certain risks and uncertainties that could cause actual results to differ. Potential risks and uncertainties include, but are not limited to, market acceptance of Coda Octopus' planned products and their level of sales, the competitive environment and successful technical and economic implementation.



Contact:
     Contact
     Press (North America)
     Ken Donenfeld
     DGI Investor Relations, Inc
     [email protected]
     tel +1 212 425 5700
     
     Investor Relations
     Ira Weingarten
     Equity Communications, LLC
     [email protected]
     tel +1 805 897 1880

ftp://

Thanks to our friends at IHUB this looks interesting

http://www.investorshub.com/boards/read_msg.asp?message_id=10969110&txt2find=csjj+

Moving again closed @ .80 any sort of news this could take off

MORE DD from our friends at  IHUB

==>Results from the Arrowhead Winery, which already was a serious step out of the lab environment showed production of some 50% Hydrogen. At Welch, McClelland is confident to obtain a gas containing between 70 and 80% Hydrogen with no Methane, which is difficult to separate, while the CO2 is comparatively easy to scrub...

Don't forget that the Hydrogen production is only one facet of NNLX, as they have many others, admittedly none with so much potential. With some 48 million shares outstanding, this gives NNLX a market cap on ONLY some $15 million, which is trivial when their patents, that practically control the bacterial production of Hydrogen worldwide, are worth in the hundreds of million, in my view and so many crap companies have stock prices North of $1.00/share...

Remember also that the stock once traded much higher, @$1.10 in fact, on much less exciting prospects. I have spoken on several occasions to both McClelland and Felder and I feel confident they will pull it off with the help of several experts in the field, such as Dr. Sergey Gazenko...

As for the stock price, a move from .19 to double that at .385 is naturally followed by a temporary pull back, which btw, ended higher that the closest support at .315. I can't see it extending much below the next support at .28, while the following support line, a very strong one at that is, at .22. Now, the 38.2% Fibonacci retracement happens to be at .31, while 50% is located at .29 and 61.8% is at .27: that's why I see the bottom here at no lower than .27 to .28, unless there is a market melt-down and this may be a good opportunity to add...

I have ample experience picking core stocks that are runners, such as CHAR from $1.94 to $7.43, SUWN from .17 to $1.68, NNVC from .22 to $3.75 and I bought my first 50,000 NNLX shares at .059, before the news came out. I set an initial target, like $1.00 in the case of SUWN, based on chart work and stock fundamentals and sell enough of my position (20% in SUWN case) when target is reached that the balance of the stock is free of cost and can run wherever it may go.

In the case of NNLX, the obvious initial target is .90 with $3.00 likely to be reached after NNLX announce a partnership with the likes of BP or PowerGen...

Stockfetcher is great  end of day charting for like 8 bucks a month you can set various indicators

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Some more info ............... up 13% on Friday

Thanks to our friends at IHUB

U.S. Sustainable Energy Corporation and Nanobac Pharmaceuticals, Inc. Investigate Nanobacteria Link to Energy Production

John Stanton, Chairman of both Nanobac and U.S. Sustainable, stated that Nanobac's continuing research with the National Aeronantics and Space Administration ("NASA") suggests potential energy, as well as healthcare, implications of nanobacteria. Our goal is to discover, or invent, and then commercialize technologies that enhance our way of life through sustainable energy development that "does no harm" to our health, or environment.`

U.S. Sustainable Energy Corporation and Nanobac Pharmaceuticals, Inc. Investigate Nanobacteria Link to Energy Production

U.S. Sustainable Energy Corporation ("U.S. Sustainable" or "the Company") announced today that it is investigating and conducting joint research with Nanobac Pharmaceuticals, Inc. ("Nanobac") (OTC BB: NNBP) on a possible connection between nanobacteria, or calcifying nano-particles, and its proprietary process for the production of biofuels from various biomass feedstocks using the Company's technologies.

The Company's technologies will include the rights to the certain patents and intellectual property rights currently contained in EarthFirst Technologies, Inc. (OTC BB: EFTI). Under EarthFirst's previously announced planned merger with Cast-Crete Corporation, EarthFirst/Cast-Crete will become the co-proponent of the Plan of Reorganization of CyberCare, Inc. ("CyberCare") (OTC: CYBR). After the merger with Cast-Crete and CyberCare's emergence from reorganization, EarthFirst/Cast-Crete intend to combine the existing energy technologies with CyberCare's technology assets. The surviving entity will be known as U.S. Sustainable Energy Corporation.

Nanobac has previously announced published research that demonstrated the role nanobacteria play in the production of electricity. A fuel cell was used to enrich a microbial consortium generating electricity. Nanobacteria-like particles were present on the biofilm surface.

John Stanton, Chairman of both Nanobac and U.S. Sustainable, stated that Nanobac's continuing research with the National Aeronantics and Space Administration ("NASA") suggests potential energy, as well as healthcare, implications of nanobacteria. Our goal is to discover, or invent, and then commercialize technologies that enhance our way of life through sustainable energy development that "does no harm" to our health, or environment.

It has been substantiated that calcific diseases propagate in microgravity because nanobacteria growth in that environment is accelerated. We are specifically investigating whether or not the vacuum created in the biofuel production process might accelerate nanobacteria growth, thus enhancing biofuel productivity.

Investors are cautioned that certain statements contained in this document as well as some statements in periodic press release and some oral statement of Nanobac Pharmaceuticals, Inc. officials are "Forward-Looking Statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward-Looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "believes," "anticipates," "intends," "plans," "expects," and similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future Nanobac actions, which may be provided by management, are also forward-looking statements as defined by the Act. Forward-Looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements and to vary significantly from reporting period to reporting period. Although management believes that the assumptions will, in fact, prove to be correct or that actual future results will not be different from the expectations expressed in this report. These statements are not guarantees of future performance and Nanobac has no specific intention to update these statements.