|By Marketwired .||
|February 14, 2014 07:59 PM EST||
LAKE ARROWHEAD, CA -- (Marketwired) -- 02/14/14 -- The Board of Directors and Executive Management of Feb 13, 2014 Rock Ridge Resources, Inc. (PINKSHEETS: RRRI) are pleased to provide their shareholders and the investment public a financial overview of the company's 2013 performance along with a forecast for 2014.
Rock Ridge Resources recently reported their annual report with OTC Markets. The following is a summary breakdown of that report:
During the 3rd quarter, the Company brought into compliance its Federal and State tax returns from 2007-2012 presenting a net operating loss carryover of $18,465,000 from previous years of operations by prior management. In 2013 the Company produced an annual income of $3,784,314 with a net income of $801,037. These numbers combine the oil factoring operations with Serenity Lodge, a wholly owned subsidiary of the Company.
To review the Consolidated Unaudited Statements of Income-Tax Cash Basis Reporting for the twelve months which ended December 31, 2013, go to OTCmarkets.com. In left corner type in symbol (RRRI) and on left margin click on filings and disclosures to review financial report.
Rock Ridge specializes in three business operations: (1) Oil & Gas Factoring and investments in oil & gas stocks. (2) Alcohol-Drug Treatment Facility and (3) Real Estate Investing. The Company is focused on helping small resource companies gain faster access to the working capital which is essential for their success in the sale of their oil. In the 4th quarter, the Company began purchasing oil & gas receivables from approved clients and began equity investments in companies such as Exxon Mobil, Halliburton and Core Labs.
Serenity Lodge is a cutting edge alcohol-drug treatment facility located in Lake Arrowhead, California. At the end of 2013, Serenity Lodge's accounts receivable totaled $1,658,000 from operations. The company reports on a cash basis and does not use the accrual method of accounting. Portions of this amount are still being collected and will reflect on our balance sheet once attained. In 2014 the company will begin reporting on an accrual basis because its sales will exceed the $5,000,000 IRS requirement for filing.
In the earlier part of the 3rd quarter, after the recent completion of 2 newly constructed houses, the Department of Health Services approved 12 additional beds to our existing license taking the facility to 30 private licensed beds. Each Serenity client enjoys the comfort of their own private bedroom, setting the facility apart from most treatment facilities that require clients to share rooms.
KC Hollmer, President of Rock Ridge, stated that with Dr. Elwood Cohen, D.O. Board Certified Primary Care Medicine, and Academy of Family Practice joined Serenity Lodge in the latter part of the 4th quarter, our company is now considered a medical assisted facility and therefore it was decided to incorporate an in-house electronic medical billing system for its billings to all insurance companies yielding the company a savings of approximately $250,000 in annual fees.
Serenity Lodge is off to a strong first quarter. January billings were $1,249,000 from its clients to insurance companies for services while collecting cash income of $459,000 with a net profit of $149,000. End of month Jan 31, receivables exceeded $2,000,000, which includes current billings and carryover from year ending 2013. The Company will continue to bill and collect on its outstanding receivables during 2014 and report accordingly.
RRRI stock price closed at $0.34 on 12-31-2013
For filings and disclosures go to OTCmarkets.com for more information on Rock Ridge Resources Inc. (RRRI)
Legal Notice Regarding Forward-Looking Statements:
This press release contains forward-looking information within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934 and is subject to the safe harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Rock Ridge Resources, Inc. to be materially different from the statements made herein. Except for any obligation under the U.S. federal securities laws, Rock Ridge Resources, Inc. undertakes no obligation to publicly update any forward-looking statement as a result of new information, future events or otherwise.
Rock Ridge Resources, Inc. Consolidated Unaudited Statements of Income - Tax Cash Basis For the twelve months ended December 31, 2013 RockRidge Serenity Combined ------------ ------------ ------------ INCOME Revenues 1,945 1,945 Management services 530,000 100,000 630,000 Patient income 3,047,104 3,047,104 Patient refund (101,735) (101,735) Real estate sale, gain 207,000 207,000 ------------ ------------ ------------ Total Income 531,945 3,252,369 3,784,314 Cost of Goods Sold Counseling 15,200 15,200 Detox 20,760 20,760 Medical 84,791 84,791 ------------ ------------ ------------ Total COGS - 120,751 120,751 ------------ ------------ ------------ Gross Profit 531,945 3,131,618 3,663,563 EXPENSE Advertising & marketing 139,573 139,573 Auto 92,280 92,280 Cleaning/housekeeping 23,352 23,352 Commission fee 105,424 105,424 Consultant 33,500 33,500 Contract Services 17,804 17,804 Depreciation 122,700 122,700 Dues & fees 5,822 5,822 Groceries 161,052 161,052 Housing 561,184 561,184 Insurance 147,145 147,145 Landscape/gardening 29,577 29,577 Professional fees 2,800 45,033 47,833 Lodge supplies 35,377 35,377 Management fee 530,000 530,000 Miscellaneous 8,476 8,476 Office expense 34 21,284 21,318 Payroll & payroll taxes 553,052 553,052 Permits 11,275 11,275 Real estate investmt exp 7,631 7,631 Recreation & movies 36,045 36,045 Repairs & maintenance 38,297 38,297 Taxes 582 37,004 37,586 Telephone 5,893 5,893 Travel 18,065 18,065 Utilities 72,265 72,265 - - ------------ ------------ ------------ Total Expense 11,047 2,851,479 2,862,526 ------------ ------------ ------------ NET INCOME 520,898 280,139 801,037 ============ ============ ============
Ayehu provides IT Process Automation & Orchestration solutions for IT and Security professionals to identify and resolve critical incidents and enable rapid containment, eradication, and recovery from cyber security breaches. Ayehu provides customers greater control over IT infrastructure through automation. Ayehu solutions have been deployed by major enterprises worldwide, and currently, support thousands of IT processes across the globe. The company has offices in New York, California, and Isr...
Feb. 27, 2017 10:45 PM EST Reads: 753
Tintri VM-aware storage is the simplest for virtualized applications and cloud. Organizations including GE, Toyota, United Healthcare, NASA and 6 of the Fortune 15 have said "No to LUNs." With Tintri they manage only virtual machines, in a fraction of the footprint and at far lower cost than conventional storage. Tintri offers the choice of all-flash or hybrid-flash platform, converged or stand-alone structure and any hypervisor. Rather than obsess with storage, leaders focus on the business app...
Feb. 27, 2017 10:15 PM EST Reads: 622
Addteq is one of the top 10 Platinum Atlassian Experts who specialize in DevOps, custom and continuous integration, automation, plugin development, and consulting for midsize and global firms. Addteq firmly believes that automation is essential for successful software releases. Addteq centers its products and services around this fundamentally unique approach to delivering complete software release management solutions. With a combination of Addteq's services and our extensive list of partners,...
Feb. 27, 2017 10:00 PM EST Reads: 1,287
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform and how we integrate our thinking to solve complicated problems. In his session at 19th Cloud Expo, Craig Sproule, CEO of Metavine, demonstrated how to move beyond today's coding paradigm and sh...
Feb. 27, 2017 09:15 PM EST Reads: 4,169
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm.
Feb. 27, 2017 08:30 PM EST Reads: 842
Big Data, cloud, analytics, contextual information, wearable tech, sensors, mobility, and WebRTC: together, these advances have created a perfect storm of technologies that are disrupting and transforming classic communications models and ecosystems. In his session at @ThingsExpo, Erik Perotti, Senior Manager of New Ventures on Plantronics’ Innovation team, provided an overview of this technological shift, including associated business and consumer communications impacts, and opportunities it m...
Feb. 27, 2017 08:00 PM EST Reads: 7,959
For organizations that have amassed large sums of software complexity, taking a microservices approach is the first step toward DevOps and continuous improvement / development. Integrating system-level analysis with microservices makes it easier to change and add functionality to applications at any time without the increase of risk. Before you start big transformation projects or a cloud migration, make sure these changes won’t take down your entire organization.
Feb. 27, 2017 07:45 PM EST Reads: 1,614
WebRTC is about the data channel as much as about video and audio conferencing. However, basically all commercial WebRTC applications have been built with a focus on audio and video. The handling of “data” has been limited to text chat and file download – all other data sharing seems to end with screensharing. What is holding back a more intensive use of peer-to-peer data? In her session at @ThingsExpo, Dr Silvia Pfeiffer, WebRTC Applications Team Lead at National ICT Australia, looked at differ...
Feb. 27, 2017 07:45 PM EST Reads: 7,370
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
Feb. 27, 2017 07:30 PM EST Reads: 2,259
SYS-CON Events announced today that IoT Now has been named “Media Sponsor” of SYS-CON's 20th International Cloud Expo, which will take place on June 6–8, 2017, at the Javits Center in New York City, NY. IoT Now explores the evolving opportunities and challenges facing CSPs, and it passes on some lessons learned from those who have taken the first steps in next-gen IoT services.
Feb. 27, 2017 07:15 PM EST Reads: 1,978
The Internet of Things can drive efficiency for airlines and airports. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Sudip Majumder, senior director of development at Oracle, discussed the technical details of the connected airline baggage and related social media solutions. These IoT applications will enhance travelers' journey experience and drive efficiency for the airlines and the airports.
Feb. 27, 2017 07:00 PM EST Reads: 2,600
SYS-CON Events announced today that WineSOFT will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Based in Seoul and Irvine, WineSOFT is an innovative software house focusing on internet infrastructure solutions. The venture started as a bootstrap start-up in 2010 by focusing on making the internet faster and more powerful. WineSOFT’s knowledge is based on the expertise of TCP/IP, VPN, SSL, peer-to-peer, mob...
Feb. 27, 2017 07:00 PM EST Reads: 2,204
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain.
Feb. 27, 2017 06:45 PM EST Reads: 2,255
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, whic...
Feb. 27, 2017 06:30 PM EST Reads: 2,137
Have you ever noticed how some IT people seem to lead successful, rewarding, and satisfying lives and careers, while others struggle? IT author and speaker Don Crawley uncovered the five principles that successful IT people use to build satisfying lives and careers and he shares them in this fast-paced, thought-provoking webinar. You'll learn the importance of striking a balance with technical skills and people skills, challenge your pre-existing ideas about IT customer service, and gain new in...
Feb. 27, 2017 06:15 PM EST Reads: 525