3SOF

holey moley     
 

are u in?

acting like BTSI. Will wait for pullback

Quote from: eliteG on June 27, 2005, 01:51:46 PM
holey moley

Holey Moley
Maybe it's ready now, Hawkeye! 

lol..no way you're the hawkeye    ...

MMIC needs to prove itself..I dont think it will but lets see what kind of day it gives us tomorrow

Quote from: eliteG on August 02, 2005, 02:07:57 AM
lol..no way you're the hawkeye ...

MMIC needs to prove itself..I dont think it will but lets see what kind of day it gives us tomorrow

The proof may be looking at you now.
It's rock and roll time!

Holey Moley...............Hawkeye.


+69.23% now

It's Hotttt.......on fire!!!!!!!!!

+92.31%

wow!!!!!...i looked at this yesterday and opted for MAGR...

Active.....
+ 16.00%......... Volume 1.1mil

Hello !
It seems to me is interesting !!!

1. Revenues. During the three-months ended June 30, 2005 we have net revenues of $948,549 compared to $311,045 during the same period in 2004, an increased of $637,504. Cost of sales were $794,659 or approximately 84% of our revenues during the three-month period ended June 30, 2005 as compared to $249,297 or approximately 80% during the same period in 2004

2. Increase in volume .

3. Aroon positive.




Quarterly Report
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATIONS.
Much of the discussion in this Item is "forward looking" as that term is used in Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934. Actual operations and results may materially differ from present plans and projections due to changes in economic conditions, new business opportunities, changed business conditions, and other developments. Other factors that could cause results to differ materially are described in our filings with the Securities and Exchange Commission.

There are several factors that could cause actual results or events to differ materially from those anticipated, and include, but are not limited to general economic, financial and business conditions, changes in and compliance with governmental laws and regulations, including various state and federal environmental regulations, our ability to obtain additional financing from outside investors and/or bank and mezzanine lenders and our ability to generate sufficient revenues to cover operating losses and position us to achieve positive cash flow.

Readers are cautioned not to place undue reliance on the forward-looking statements contained herein, which speak only as of the date hereof. We believe the information contained in this Form 10-QSB to be accurate as of the date hereof. Changes may occur after that date. We will not update that information except as required by law in the normal course of its public disclosure practices.

Additionally, the following discussion regarding our financial condition and results of operations should be read in conjunction with the financial statements and related notes contained in Item 1 of Part I of this Form 10-QSB, as well as the financial statements in Item 7 of Part II of our Form 10-KSB for the fiscal year ended December 31, 2004.

MANAGEMENT'S PLAN OF OPERATION

GENERAL

Beginning in the second quarter of 2004, as a result of a contribution to our capital by Mr. Wilbert H. Marmion, our key officer and director, of all of his shares of common stock in Marmion Investments, Inc., a Texas corporation d/b/a Marmion Air Service, we have entered the business of manufacturing and marketing of the explosion proof air conditioners, refrigeration systems, chemical filtration systems and building pressurizers. The explosion-proof market encompasses industries including oil and gas exploration and production, chemical plants, granaries and fuel storage depots. We feel there is significant demand for these systems anywhere sensitive computer systems and analysis equipment is located. We also provide residential and commercial HVAC service in Texas, as well as specialty service to Fortune 500 clients.

CURRENT BUSINESS PLAN

We manufacture and modify HVAC equipment for the Petrochemical industry specifically for hazardous location applications. We custom engineer special systems for strategic industrial environments. Additionally we perform new commercial HVAC construction services currently in the Houston, Texas area.

We currently target Refinery and Chemical plants service companies that build analyzer shelters, controls centers and computer rooms in corrosive or hazardous locations on our industrial side. Commercially we are emerging into the new HVAC construction market to take advantage of the constant new development taking place in the Houston area.

With the demand for oil and the price increasing constantly in today's market our position in this industry is poised to take advantage of the increasing boom in petroleum expansion taking place both here in the national market as well as the international markets emerging in Mexico, the Middle East and South America. We foresee the next cycle that has already begun while the commercial market and population expansion currently taking place in the gulf-coast area to continue long into the future.

Marmion Industries Corp. dba Marmion Air Service TACLB019367E. In November of 2004 the license was upgraded to TACLA019367C. This license allows us to sell air conditioners to unlimited tonnages, as opposed to the "B" license which limited us to sell equipment up to 20 tons.

Marmion Industries Corp. began seven years ago as a HVAC company in Beaumont, Texas. We then moved to Houston to take advantage of the accessibility to a larger market in and around the Houston area. Marmion Industries Corp. has always been owned and operated by W. H. Marmion and Ellen Raidl Marmion, who are husband and wife. In the first few years we acquired an agreement with Nextel Corporation to provide service and replacement of HVAC machines across southern Texas. This enabled Marmion to grow at a rapid pace as we completed Nextel's 3-G upgrade in 2000 and accomplished $1.1 million in revenues. When the stock market reversed in the early 2001 Marmion had already begun building industrial grade machines and providing them to Petrochemical customers in the Houston area. At that time Nextel began tightening their services budgets due to the low price of their stock and approached us to reduce our pricing to a rate below our cost factor. We at that time made a strategic decision to concentrate on the Industrial markets and develop our line of explosion-proof machines as our core business. We developed and refined our product line and continued to market to a growing list of customers primarily in the Houston area. Making alliances with a major wall mount air conditioner manufacturer Marvair, a subsidiary of Airxcel Inc. that is owned by Citicorp we have been able to gain a large market share rapidly.

Our past experiences of cycles of business have led us to the conclusion that diversification is the key to both market share and survival. In 2004 we began making plans to open a commercial division and hired personnel to bid and supervise commercial projects. Marmion has through out its seven years in this business built and maintained a reputation for quality service. While every project has not gone without its challenges, we have

learned, adapted, and grown through each experience. Until 2003 we operated as an S corporation and in 2003 converted to C corp. in anticipation of going in to the public arena to give us the ability to grow more rapidly. Today Marmion has ten full time employees and depending on the commercial projects undertaken as many or more subcontractors to accomplish its business objectives. We have been able to survive in the market place due to our flexibility and eye on the future while correctly estimating future trends.

Our greatest strength comes from our team of employees and the number of years of experience we collectively bring to the table. What makes us succeed is our intense belief that we produce a better product and go the extra mile to provide service to our customers.

We see as our biggest challenge our continued ability to attract and keep excellent employees to accomplish our objectives due to the fact that we do not have any type of benefits program in effect. Cash flow has and remains a major challenge due to the fact that we are outgrowing our receivables and increasing our growth rate beyond 30 percent annually. Our customers normally pay on 45 to 60 day intervals and our suppliers bill us on 30 day terms. We need larger facilities and equipment to increase profitability and meet increasing demand. A lot of what we outsource could easily be made in our own shop if we had the proper equipment adding 10- 15 percent greater yield per job in the industrial sector. Additionally, new equipment would allow us to take on a diversified work load, which could add to our profitability.

Our long-term plans for growth include expanding our industrial base into Louisiana and abroad through new licensing and business contacts from ongoing marketing. We have just begun to tap into the commercial market in the Houston area; however, the licensing in Louisiana will allow us to do commercial projects there also. Market research has shown a higher percentage of profit in the other areas due fewer contractors to bid on the work. We believe that, with right personnel and growth capital, we can grow our commercial division over the next two years. With additional sales staff we can grow the industrial side of our business in line with the commercial side due to a number of factors.

We are acquiring third party certification on our industrial line of equipment that enables us to bid and successfully be awarded a wide variety of jobs. Because of third party certification, we will now be able to be specified into large multi-national petrochemical company's specifications. This gives us an edge and increased profit line. We are currently educating engineering companies in Houston of the options now available to them and their customers. We have and are continuing to put pressure on our competitors in this business and as we push further into what has been their territory we are constantly on the look out for potential acquisitions.

By attracting and keeping better employees and retaining our current ones we feel that continuing our 30 percent growth rate over the next 3-5 years will be sustainable. We feel that we will surpass that rate in 2005, but feel we should remain conservative in our estimates.

RESULTS OF OPERATIONS

REVENUE

THREE MONTHS ENDED JUNE 30, 2005 COMPARED TO THE THREE MONTHS ENDED JUNE 30,
2004.

Revenues. During the three-months ended June 30, 2005 we have net revenues of $948,549 compared to $311,045 during the same period in 2004, an increased of $637,504. Cost of sales were $794,659 or approximately 84% of our revenues during the three-month period ended June 30, 2005 as compared to $249,297 or approximately 80% during the same period in 2004.

Operating Expense. During the three-month period ended June 30, 2005, operating expenses were $223,021 or approximately 24% of revenue as compared to $319,265 or approximately 103% of revenue for the same period in 2004. Included is $35,178 in stock based compensation.

Personnel expenses were $80,826 or approximately 36% of our operating expenses during the three-month period ended June 30, 2005 as compared to $126,756 or approximately 40% of our operating expenses during the three-month period ended June 30, 2004.

General and administrative expenses for the three-month period ended June 30, 2005 included rent and utilities in the amount of $11,750, telephone costs in the amount of $5,351, costs of travel related to operations in the amount of $4,565, automotive costs in the amount of $2,565, and insurance costs totaling $8,164.

Professional fees, which are made up primarily of accounting fees and legal fees, totaled $73,667 during the three-month period ended June 30, 2005 as compared to $40,139 for the three-month period ended June 30, 2004. The professional fees related to preparation of our Securities Exchange Act reports, professional fees associated with the preparation of our Annual Meetings, and professional fees associated with consulting and representation.

Depreciation and amortization expense was $7,890 for the three-month period ended June 30, 2005, as compared to $7,906 for the three-month period ended June 30, 2004.

Operating Net Income. For the quarter ended June 30, 2005 we realized a net loss from continuing operations of ($69,131) or ($0.01) per share as compared to a net loss of ($257,517) for the second quarter of 2004, or ($6,280.90) per share.

SIX MONTHS ENDED JUNE 30, 2005 COMPARED TO THE SIX MONTHS ENDED JUNE 30, 2004.

Revenues. During the six-months ended June 30, 2005 we have net revenues of $1,449,944 compared to $393,659 during the same period in 2004, an increased of $1,056,285. Cost of sales were $1,099,304 or approximately 76% of our revenues during the six-month period ended June 30, 2005 as compared to $309,181 or approximately 79% during the same period in 2004.

Operating Expense. During the six-month period ended June 30, 2005, operating expenses were $707,992 or approximately 49% of revenue as compared to $671,232 or approximately 171% of revenue for the same period in 2004.

Personnel expenses were $202,934 or approximately 29% of our operating expenses during the six-month period ended June 30, 2005 as compared to $266,363 during the six-month period ended June 30, 2004.

General and administrative expenses for the six-month period ended June 30, 2005 included rent and utilities in the amount of $22,041, telephone costs in the amount of $10,292, costs of travel related to operations in the amount of $6,457, automotive costs in the amount of $6,806, and insurance costs totaling $12,756.

Professional fees, which are made up primarily of accounting fees and legal fees, totaled $376,902 during the six-month period ended June 30, 2005 as compared to $106,178 for the six-month period ended June 30, 2004. The professional fees related to preparation of our Securities Exchange Act reports, professional fees associated with the preparation of our Annual Meetings, and professional fees associated with consulting and representation.

Depreciation and amortization expense was $15,738 for the six-month period ended June 30, 2005, as compared to $18,812 for the six-month period ended June 30, 2004.

Operating Net Income. For the six-month ended June 30, 2005 we realized a net loss from continuing operations of ($357,352) or ($0.08) per share as compared to a net loss of ($586,754) for the same period in 2004, or ($27,970.67) per share.

LIQUIDITY AND CAPITAL RESOURCES

As of June 30, 2005, we had a deficiency in working capital of $850,522 made up of inventory, cash and accounts receivable of $384,790. Cash flow used for operating activities required $128,654 during the six-months ended June 30, 2005.

CRITICAL ACCOUNTING POLICIES

The preparation of our consolidated financial statements in conformity with accounting principles generally accepted in the United States requires us to make estimates and judgments that affect our reported assets, liabilities, revenues, and expenses, and the disclosure of contingent assets and liabilities. We base our estimates and judgments on historical experience and on various other assumptions we believe to be reasonable under the circumstances. Future events, however, may differ markedly from our current expectations and assumptions. While there are a number of significant accounting policies affecting our consolidated financial statements, we believe the following critical accounting policy involve the most complex, difficult and subjective estimates and judgments.

STOCK-BASED COMPENSATION

In December 2002, the FASB issued SFAS No. 148 - Accounting for Stock-Based Compensation - Transition and Disclosure. This statement amends SFAS No. 123 - Accounting for Stock-Based Compensation, providing alternative methods of voluntarily transitioning to the fair market value based method of accounting for stock based employee compensation. FAS 148 also requires disclosure of the method used to account for stock-based employee compensation and the effect of the method in both the annual and interim financial statements. The provisions of this statement related to transition methods are effective for fiscal years ending after December 15, 2002, while provisions related to disclosure requirements are effective in financial reports for interim periods beginning after December 31, 2002.

We elected to continue to account for stock-based compensation plans using the intrinsic value-based method of accounting prescribed by APB No. 25, "Accounting for Stock Issued to Employees," and related interpretations. Under the provisions of APB No. 25, compensation expense is measured at the grant date for the difference between the fair value of the stock and the exercise price.

RECENT ACCOUNTING PRONOUNCEMENTS

In March 2005, FASB Interpretation No. 47 "FIN 47" was issued, which clarifies certain terminology as used in FASB Statement No. 143, Accounting for Asset Retirement Obligations. In addition it clarifies when an entity would have sufficient information to reasonably estimate the fair value of an asset retirement obligation. FIN 47 is effective no later than the end of fiscal years ending after December 15, 2005. Early adoption of FIN 47 is encouraged. Management believes the adoption of FIN 47 will have no impact on the financials of the Company, once adopted.

In May 2005, the FASB issued FASB Statement No. 154, which replaces APB Opinion No. 20 and FASB No. 3. This Statement provides guidance on the reporting of accounting changes and error corrections. It established, unless impracticable retrospective application as the required method for reporting a change in accounting principle in the absence of explicit transition requirements to a newly adopted accounting principle. The Statement also provides guidance when the retrospective application for reporting of a change in accounting principle is impracticable. The reporting of a correction of an error by restating previously issued financial statements is also addressed by this Statement. This Statement is effective for financial statements for fiscal years beginning after December 15, 2005. Earlier application is permitted for accounting changes and corrections of errors made in fiscal years beginning after the date of this Statement is issued. Management believes this Statement will have no impact on the financial statements of the Company once adopted.

OFF-BALANCE SHEET ARRANGEMENTS

We do not have any off-balance sheet arrangements.

I grabbed a little bit of this yesterday as it was pulling back. Glad to see you guys looking at it too!I am interested to see where this thing goes. Time will tell I guess

Press Release Source: Marmion Industries Corp.


Marmion Industries Announces Successful Completion of Debut Commercial Project for H.I.S.D.
Tuesday August 23, 8:00 am ET


HOUSTON, Aug. 23 /PRNewswire-FirstCall/ -- Marmion Industries Corp. (OTC Bulletin Board: MMIC - News) announces the successful completion of the debut commercial project for Houston Independent School District (H.I.S.D.). This shows that we can step up to the plate and take on larger projects and complete them, enabling us to go after a larger segment of the available commercial work we have set our sights on.
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This project totaled more than $715,000.00 by completion and as a result of this we have been approached by other large general contractors and are currently bidding numerous additional projects. "We feel confidant that this will enable us to increase our revenue stream substantially going forward, bringing additional value to our shareholders," said W. H. Marmion, President. "Additionally, we are looking into ways to further streamline our operations and become even more competitive going forward."

About Marmion Industries Corp.

Marmion Industries Corp. (http://www.marmionair.com ) is a specialty company that manufactures and markets explosion-proof air conditioners, refrigeration systems, chemical filtration systems and building pressurizers. The explosion-proof market encompasses industries including oil and gas exploration and production, chemical plants, graineries and fuel storage depots. Additionally there is significant demand for these systems anywhere sensitive computer systems and analyzation equipment is located. Recognized by the Texas Dept. of Licensing and Regulation (TACLA019367C) as a contractor in the field of Heating Ventilation and Air Conditioning, the Company commenced residential and commercial HVAC Service operation in Texas in 1998 and has since provided specialty service to Fortune 500 clientele.

Safe Harbor for Forward-Looking Statements: Except for historical information contained herein the statements in this news release are forward- looking statements that involve risks and uncertainties and are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in the future periods to differ materially from forecasted results.

CONTACT: Shareholder Services of Marmion Industries Corp., 1-713-466-6585, or [email protected] .

that is one hell of a gap up this am. Hopefully it holds and keeps on going for a few days

MMIC up 51%, is anyone in it still ?